Sigma Additive Solutions Reports First Quarter 2023 Financial Results

 

 

Sigma Additive Solutions, Inc.

Condensed Statements of Cash Flows

(Unaudited)

 

 

 

 

March 31, 2023

 

 

March 31, 2022

 

 

 

Three Months Ended

 

 

 

March 31, 2023

 

 

March 31, 2022

 

OPERATING ACTIVITIES

 

 

 

 

 

 

 

 

Net Loss

 

$

(1,751,699

)

 

$

(2,207,395

)

Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:

 

 

 

 

 

 

 

 

Noncash Expenses:

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

 

28,127

 

 

 

31,584

 

Stock-Based Compensation - Employees

 

 

224,850

 

 

 

170,976

 

Stock-Based Compensation - Third Party Services

 

 

(489

)

 

 

11,713

 

Stock-Based Compensation - Directors

 

 

7,728

 

 

 

21,721

 

Stock-Based Compensation

 

 

-

 

 

 

-

 

Change in Assets and Liabilities:

 

 

 

 

 

 

 

 

Accounts Receivable

 

 

161,171

 

 

 

151,170

 

Inventory

 

 

6,541

 

 

 

(72,019

)

Prepaid Assets

 

 

(129,777

)

 

 

(50,996

)

Accounts Payable

 

 

123,148

 

 

 

114,105

 

Deferred Revenue

 

 

33,370

 

 

 

11,421

 

Accrued Expenses

 

 

(12,507

)

 

 

(209,299

)

NET CASH USED IN OPERATING ACTIVITIES

 

 

(1,309,537

)

 

 

(2,027,019

)

 

 

 

 

 

 

 

 

 

INVESTING ACTIVITIES

 

 

 

 

 

 

 

 

Purchase of Property and Equipment

 

 

-

 

 

 

(83,248

)

Purchase of Intangible Assets

 

 

(47,690

)

 

 

(58,851

)

NET CASH USED IN INVESTING ACTIVITIES

 

 

(47,690

)

 

 

(142,099

)

 

 

 

 

 

 

 

 

 

FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

NET CASH PROVIDED BY FINANCING ACTIVITIES

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

NET CHANGE IN CASH FOR PERIOD

 

 

(1,357,227

)

 

 

(2,169,118

)

 

 

 

 

 

 

 

 

 

CASH AT BEGINNING OF PERIOD

 

 

2,845,931

 

 

 

11,447,047

 

 

 

 

 

 

 

 

 

 

CASH AT END OF PERIOD

 

$

1,488,704

 

 

$

9,277,929

 

 

 

 

 

 

 

 

 

 

Supplemental Disclosures:

 

 

 

 

 

 

 

 

Noncash Investing and Financing Activities Disclosure:

 

 

 

 

 

 

 

 

Preferred Stock Dividends

 

$

11,748

 

 

$

14,220

 

Conversion of Preferred Shares to Common Shares

 

 

188,830

 

 

 

-

 

Other Noncash Operating Activities Disclosure:

 

 

 

 

 

 

 

 

Issuance of Securities for services

 

$

7,239

 

 

$

33,434

 

Disclosure of Cash Paid for:

 

 

 

 

 

 

 

 

Interest

 

$

3,235

 

 

$

1,319

 

Income Taxes

 

$

-

 

 

$

-

 



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