Revenue - The Company reported no revenue for the six months ended June 30, 2024, and June 30, 2023[96]. Operating Expenses - Operating expenses for the three months ended June 30, 2024, were $395,607, an increase of approximately 62% compared to $244,252 for the same period in 2023[97]. - The Company incurred operating expenses of $817,652 for the six months ended June 30, 2024, an increase of approximately 106% from $396,852 for the same period in 2023[98]. Net Loss - The net loss for the three months ended June 30, 2024, was $451,639, representing an increase of approximately 71% from a net loss of $264,389 in the same period of 2023[99]. Cash Flow - Net cash used in operating activities for the six months ended June 30, 2024, was $929,399, an increase of approximately 250% from $265,429 for the same period in 2023[103]. - Net cash provided by financing activities for the six months ended June 30, 2024, was $1,895,424, a significant increase of approximately 658% compared to $250,000 in the same period of 2023[105]. - The increase in cash used in investing activities for the six months ended June 30, 2024, was approximately 517%, totaling $123,497 compared to $20,000 in the same period of 2023[104]. Liquidity and Financial Position - As of June 30, 2024, the Company had cash of $845,336 and an accumulated deficit of approximately $5.5 million[107]. - The Company has incurred significant professional costs and transaction costs related to the Business Combination, impacting its liquidity[106]. - The Company expects net cash from operating activities to remain negative until products generate meaningful revenue[103].
Klotho Neurosciences, Inc.(KLTO) - 2024 Q2 - Quarterly Report