Sigma Additive Solutions Reports Second Quarter 2023 Financial Results

 

 

Sigma Additive Solutions, Inc.

Condensed Statements of Operations

(Unaudited)

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES

 

$

97,043

 

 

$

236,660

 

 

$

227,202

 

 

$

288,504

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COST OF REVENUE

 

 

36,491

 

 

 

193,075

 

 

 

100,155

 

 

 

233,166

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GROSS PROFIT

 

 

60,552

 

 

 

43,585

 

 

 

127,047

 

 

 

55,338

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries & Benefits

 

 

554,182

 

 

 

1,184,818

 

 

 

1,485,764

 

 

 

2,476,828

 

Stock-Based Compensation

 

 

138,489

 

 

 

167,439

 

 

 

363,339

 

 

 

338,415

 

Operations and R&D Costs

 

 

105,259

 

 

 

146,885

 

 

 

231,971

 

 

 

290,303

 

Investor, Public Relations and Marketing

 

 

57,824

 

 

 

152,300

 

 

 

112,768

 

 

 

246,626

 

Organization Costs

 

 

38,240

 

 

 

60,817

 

 

 

89,438

 

 

 

119,566

 

Legal & Professional Service Fees

 

 

152,025

 

 

 

144,528

 

 

 

336,276

 

 

 

355,944

 

Office Expenses

 

 

94,190

 

 

 

303,600

 

 

 

248,689

 

 

 

509,032

 

Depreciation & Amortization

 

 

21,470

 

 

 

29,861

 

 

 

49,597

 

 

 

61,445

 

Other Operating Expenses

 

 

202,892

 

 

 

89,177

 

 

 

294,873

 

 

 

176,964

 

Total Operating Expenses

 

 

1,364,571

 

 

 

2,279,425

 

 

 

3,212,715

 

 

 

4,575,123

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LOSS FROM OPERATIONS

 

 

(1,304,019

)

 

 

(2,235,840

)

 

 

(3,085,668

)

 

 

(4,519,785

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER INCOME (EXPENSE)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Income

 

 

9

 

 

 

1,176

 

 

 

17

 

 

 

2,747

 

State Incentives

 

 

-

 

 

 

-

 

 

 

-

 

 

 

76,628

 

Exchange Rate Gain (Loss)

 

 

(849

)

 

 

(10,436

)

 

 

(3,352

)

 

 

(10,766

)

Interest Expense

 

 

(3,235

)

 

 

(2,070

)

 

 

(6,471

)

 

 

(3,389

)

Other Income

 

 

-

 

 

 

-

 

 

 

35,680

 

 

 

-

 

Total Other Income (Expense)

 

 

(4,075

)

 

 

(11,330

)

 

 

25,874

 

 

 

65,220

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LOSS BEFORE PROVISION FOR INCOME TAXES

 

 

(1,308,094

)

 

 

(2,247,170

)

 

 

(3,059,794

)

 

 

(4,454,565

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for income Taxes

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

$

(1,308,094

)

 

$

(2,247,170

)

 

$

(3,059,794

)

 

$

(4,454,565

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred Dividends

 

 

(10,688

)

 

 

(14,220

)

 

 

(22,435

)

 

 

(28,440

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss Applicable to Common Stockholders

 

$

(1,318,782

)

 

$

(2,261,390

)

 

$

(3,082,229

)

 

$

(4,483,005

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss per Common Share – Basic and Diluted

 

$

(0.12

)

 

$

(0.22

)

 

$

(0.29

)

 

$

(0.43

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Shares Outstanding – Basic and Diluted

 

 

10,772,713

 

 

 

10,498,802

 

 

 

10,731,922

 

 

 

10,498,802

 





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