Sigma Additive Solutions Reports Second Quarter 2022 Financial Results

About Sigma Additive Solutions

Sigma Additive Solutions (NASDAQ: SASI), is a leading provider of in-process quality assurance (IPQA®) software to the additive manufacturing industry. Sigma specializes in the development and commercialization of real-time monitoring solutions known as PrintRite3D® for 3D metal and polymer advanced manufacturing technologies. PrintRite3D detects and classifies defects and anomalies real-time during the manufacturing process, enabling significant cost-savings and production efficiencies. Sigma is dedicated to setting the quality standard for Additive Manufacturing and accelerating the worldwide adoption of 3D metal and polymer printing. For more information, please visit www.sigmaadditive.com.  

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are risks relating to, among other things, market and other conditions, Sigma Labs' business and financial condition, the extent of the market's acceptance of PrintRite3D® version 7.0, Sigma Labs' ability to satisfy its capital needs through increasing its revenue and obtaining additional financing, and general economic, industry or political conditions in the United States or internationally. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see disclosures contained in Sigma Labs' public filings with the SEC, including the "Risk Factors" in Sigma Labs' Annual Report on Form 10-K, and which may be viewed at www.sec.gov.

Contacts:
Investor Contact:
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
SASI@mzgroup.us
www.mzgroup.us

Company Contact:
Christopher Ryan
Vice President, Marketing
Sigma Additive Solutions
chris.ryan@sigmaadditive.com

Sigma Labs, Inc.

Condensed Balance Sheets

 

June 30, 2022

(Unaudited)

December 31, 2021

     

ASSETS

   

Current Assets:

   

Cash

$6,933,499

$11,447,047

Accounts Receivable, net

291,758

412,192

Inventory

783,666

710,080

Prepaid Assets

131,475

114,278

Total Current Assets

8,140,398

12,683,597

Other Assets:

   

Property and Equipment, net

265,678

232,282

Intangible Assets, net

1,029,315

925,111

Total Other Assets

1,294,993

1,157,393

TOTAL ASSETS

$9,435,391

$13,840,990

LIABILITIES AND STOCKHOLDERS’ EQUITY

   

Current Liabilities:

   

Accounts Payable

$240,400

$206,442

Deferred Revenue

130,704

148,855

Accrued Expenses

253,754

625,942

Total Current Liabilities

624,858

981,239

TOTAL LIABILITIES

624,858

981,239

Stockholders’ Equity

   

Preferred Stock, $0.001 par value; 10,000,000 shares authorized; 465 shares issued and outstanding

1

1

Common Stock, $0.001 par value; 24,000,000 shares authorized; 10,498,802 shares issued and outstanding

10,499

10,499

Additional Paid-In Capital

53,876,218

53,442,431

Accumulated Deficit

(45,076,185

(40,593,180

Total Stockholders’ Equity

8,810,533

12,859,751

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$9,435,391

$13,840,990


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