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Nu-Med Plus, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing no revenue for the period. Operating expenses for the three months ended September 30, 2024, were $17,417, compared to $15,146 in the same period of the previous year.
The company reported a net loss of $18,677 for the three months ended September 30, 2024, compared to a net loss of $16,406 in the previous year.
For the nine months ended September 30, 2024, operating expenses were $54,037, compared to $65,190 in the same period of 2023. The net loss for the nine-month period was $57,790, down from $68,930 in 2023.
As of September 30, 2024, Nu-Med Plus reported total assets of $6,841 and liabilities of $211,382, resulting in a working capital deficiency of $204,541.
The company acknowledges its dependence on additional funding to continue operations and execute its business plan, with planned expenditures of approximately $1,200,000 over the next 12 months.
Nu-Med Plus is focused on developing technologies in the medical device field, specifically related to nitric oxide delivery systems. The company has developed several prototypes but requires further funding to continue development.
The company experienced a change in executive leadership following the termination of a Share Exchange Agreement with YourSpace America, Inc. on October 28, 2024. William Hayde was appointed as President and CEO.
Nu-Med Plus does not anticipate any revenue in the near future, as its products are still in the development stage and require FDA approval for commercial use.
The company does not have any off-balance sheet arrangements and does not anticipate entering into any such arrangements.
Nu-Med Plus identified a need for additional capital to continue its operations and noted that without such funding, its ability to remain in business is at risk.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Nu-Med Plus Inc quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.