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Stimcell Energetics Inc. (STME0.00%) has submitted its Form 10-Q filing for the quarterly period ended November 30, 2024.
The filing includes financial statements for the quarter, showing total assets of $38,346 and total liabilities of $1,021,051, resulting in a stockholders' deficit of $982,705.
The company reported operating expenses of $130,698 for the three-month period ended November 30, 2024, compared to $42,562 in the same period the previous year, marking an increase of 207.1%.
Consulting fees for the quarter were $34,743, up from $29,470 in the previous year, while foreign exchange losses increased significantly to $50,774 from $4,641.
Management fees amounted to $22,500 for the quarter, with no such fees recorded in the prior year.
The company reported a net loss of $139,508 for the quarter, compared to $60,547 in the previous year, representing a 130.4% increase.
Cash used in operating activities was $39,436 for the six months ended November 30, 2024, with cash provided by financing activities amounting to $30,000.
The company did not generate any revenue during the three and six months ended November 30, 2024, and 2023.
Stimcell Energetics Inc. is focused on the development and commercialization of therapeutic and non-therapeutic products, including those based on its proprietary eBalance® Technology.
The filing notes that the company has not achieved profitable operations and has an accumulated deficit of $10,501,690, raising substantial doubt about its ability to continue as a going concern.
Management intends to obtain additional funding through borrowing, issuing promissory notes, and private placement of common stock.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Stimcell Energetics Inc. quarterly 10-Q report dated January 14, 2025. To report an error, please email earnings@qz.com.