Sigma Additive Solutions Reports Second Quarter 2022 Financial Results

Sigma Labs, Inc.
Condensed Statements of Operations
(Unaudited)

 

Three Months Ended
June 30,

Six Months Ended
June 30,

 

2022

2021

2022

2021

         

REVENUES

 

$236,660

 

$144,148

 

$288,504

 

$602,288

                 

COST OF REVENUE

 

193,075

 

116,397

 

233,166

 

244,728

                 

GROSS PROFIT

 

43,585

 

27,751

 

55,338

 

357,560

                 

OPERATING EXPENSES:

               

Salaries & Benefits

 

1,184,818

 

985,348

 

2,476,828

 

1,832,520

Stock-Based Compensation

 

167,439

 

116,441

 

338,415

 

233,919

Operations and R&D Costs

 

146,885

 

280,700

 

290,303

 

477,040

Investor, Public Relations and Marketing

 

152,300

 

114,762

 

246,626

 

223,103

Organization Costs

 

60,817

 

158,529

 

119,566

 

236,145

Legal & Professional Service Fees

 

144,528

 

244,019

 

355,944

 

420,866

Office Expenses

 

303,600

 

151,871

 

509,032

 

300,096

Depreciation & Amortization

 

29,861

 

25,783

 

61,445

 

48,814

Other Operating Expenses

 

89,177

 

91,198

 

176,964

 

177,554

Total Operating Expenses

 

2,279,425

 

2,168,651

 

4,575,123

 

3,950,057

                 

LOSS FROM OPERATIONS

 

(2,235,840

 

(2,140,900

 

(4,519,785

 

(3,592,497

                 

OTHER INCOME (EXPENSE)

               

Interest Income

 

1,176

 

7,018

 

2,747

 

7,073

Gain on Derivative Liability

 

-

 

290,156

 

-

 

1,092,441

State Incentives

 

-

 

-

 

76,628

 

-

Exchange Rate Gain (Loss)

 

(10,436)

 

208

 

(10,766)

 

158

Interest Expense

 

(2,070)

 

(2,029

 

(3,389)

 

(3,382)

Total Other Income (Expense)

 

(11,330 )

 

295,353

 

65,220

 

1,096,290

                 

LOSS BEFORE PROVISION FOR INCOME TAXES

 

(2,247,170 )

 

(1,845,547

 

(4,454,565 )

 

$ (2,496,207 )

                 

Provision for income Taxes

 

-

 

-

 

-

 

-

                 

Net Loss

 

(2,247,170 )

 

$ (1,845,547

 

$ (4,454,565 )

 

$ (2,496,207 )

                 

Preferred Dividends

 

(14,220)

 

(14,220

 

(28,440)

 

(75,127)

                 

Net Loss Applicable to Common Stockholders

 

$ (2,261,390 )

 

$ (1,859,767

 

$ (4,483,005 )

 

$ (2,571,334 )

                 

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