Revenue and Profit - Gross revenue for the three-month period ended June 30, 2019, was $61,600, an increase of $56,800 or 1,183% compared to $4,800 in the same quarter last year [142]. - Gross profit for the three-month period ended June 30, 2019, was $42,400, reflecting an increase of $40,128 or 1,766% from $2,272 in the comparable quarter a year ago [144]. - For the six-month period ended June 30, 2019, gross revenue was $112,400, up $98,000 or 681% from $14,400 in the same period last year [149]. Net Loss and Expenses - The net loss for the three-month period ended June 30, 2019, was $88,233, significantly reduced from $6,432,404 in the comparable quarter a year ago [148]. - Research and development expenses for the three-month period ended June 30, 2019, were $0, a decrease of 100% from $4,200 in the same quarter last year [146]. - General and administrative expenses for the six-month period ended June 30, 2019, totaled $594,546, an increase of $84,000 or 17% compared to $510,546 in the same period last year [152]. Cash Position and Operating Activities - The company had approximately $204,112 in cash on hand as of June 30, 2019, with an estimated monthly cash burn rate of $100,000 [140]. - Net cash used in operating activities for the six-month period ended June 30, 2019, was $602,380, an increase of $192,678 or 47% from $409,702 in the comparable period last year [161]. - The company raised $689,890 through the issuance of convertible debt in the six-month period ended June 30, 2019 [162]. Going Concern - The company has a working capital deficit of $2,789,894 as of June 30, 2019, raising substantial doubt about its ability to continue as a going concern [163].
Creative Medical Technology (CELZ) - 2019 Q2 - Quarterly Report