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Ludwig Enterprises Inc (LUDG+13.00%). has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net loss of $3,016,884 for the year, with net cash used in operating activities amounting to $660,302. Ludwig Enterprises recorded a working capital deficit of $2,378,145 as of December 31, 2024.
The company has not generated significant revenues and continues to rely on raising capital to fund its operations. It plans to focus on developing genomic technology products using mRNA biomarkers.
Ludwig Enterprises has dissolved two of its subsidiaries, mRNA for Life, Inc. and Precision Genomics, Inc., and sold its subsidiary Exousia Ai, Inc. to Marijuana, Inc. for $203,319.
During the year, the company issued several promissory notes and convertible notes, with a total principal amount of $628,708, to raise funds for its operations.
The company has also issued common stock and warrants as inducements related to note extensions and fundraising activities.
Ludwig Enterprises has identified its primary focus as developing products that use mRNA genetic biomarkers to assess inflammation and related chronic diseases.
The company acknowledges the existence of substantial doubt about its ability to continue as a going concern due to recurring losses and negative cash flows.
Ludwig Enterprises is actively seeking to raise additional capital and explore strategic partnerships to support its business operations and research initiatives.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Ludwig Enterprises Inc annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.