In This Story
RGPX (RGPX) has filed its Form 10-Q for the quarterly period ending December 31, 2024. The filing is accessible filing.
The report indicates that RGPX has not generated any revenue for the nine months ending December 31, 2024, and recorded a net loss of $1,116,656, a decrease from the $3,251,000 net loss in the same period of the previous year.
The company attributes the reduced net loss to lower research and development expenses, stock-based compensation, and administrative expenses, despite a slight increase in payroll and interest expenses.
RGPX's balance sheet shows total assets of $646,860 and total liabilities of $5,700,574 as of December 31, 2024, resulting in a stockholders' deficit of $5,053,714.
The company's cash flow from operating activities was negative $340,651, with no cash used in investing activities and $340,617 provided by financing activities for the nine months ending December 31, 2024.
RGPX continues to face significant liquidity challenges and requires additional capital to launch its business and reduce liabilities. The company acknowledges substantial doubt about its ability to continue as a going concern.
The filing outlines RGPX's strategy to develop and market wound care healing products, including proprietary technologies for chronic and acute wounds.
The company has engaged in managed care agreements with southeastern states and is negotiating with distributors in the Middle East to expand its market reach.
RGPX's internal controls over financial reporting were deemed ineffective as of December 31, 2024, and the company plans to seek guidance from third-party experts to address these issues.
The filing also notes that RGPX is not involved in any material litigation as of the report date.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the RGPX quarterly 10-Q report dated February 7, 2025. To report an error, please email earnings@qz.com.