Biotricity (US:BTCY)2025-11-14 20:38Financial Performance - Total revenue for the six months ended September 30, 2025, was $7,759,788, representing a 20% increase from $6,468,589 in the same period of 2024[10]. - Gross profit for the three months ended September 30, 2025, was $3,181,498, up 29% from $2,459,174 in the same quarter of 2024[10]. - The net loss attributable to common stockholders for the six months ended September 30, 2025, was $1,526,616, compared to a loss of $8,601,321 in the same period of 2024[10]. - The company experienced a comprehensive loss of $1,553,499 for the six months ended September 30, 2025, compared to $8,707,114 in the same period of 2024[10]. - The net loss before dividends for the period of $690,913 for the three months ended September 30, 2025, compared to a net loss of $1,362,890 for the same period in 2024, indicating a year-over-year improvement[11]. - For the six months ended September 30, 2025, Biotricity reported a net loss of $1,362,890, a significant improvement compared to a net loss of $5,256,288 for the same period in 2024, representing a reduction of approximately 74%[14]. Revenue Breakdown - Technology fees for the six months ended September 30, 2025, amounted to $6,882,846, up from $6,081,064 in 2024, reflecting a growth of 13%[28]. - Device sales increased significantly to $876,942 for the six months ended September 30, 2025, compared to $387,525 in 2024, marking a growth of 126%[28]. Assets and Liabilities - Total current assets increased to $5,536,234 as of September 30, 2025, from $4,639,292 as of March 31, 2025[8]. - Total liabilities rose to $37,984,860 as of September 30, 2025, compared to $35,655,054 as of March 31, 2025[8]. - Cash decreased to $308,460 as of September 30, 2025, from $365,145 as of March 31, 2025[8]. - The company reported a working capital deficiency of $18,077,790 as of September 30, 2025, compared to $15,996,856 as of March 31, 2025, highlighting liquidity concerns[21]. Equity and Stockholder Information - The number of common shares outstanding increased to 26,791,608 as of September 30, 2025, from 26,081,295 as of March 31, 2025[8]. - The total common shares issued increased to 26,952,280 as of September 30, 2025, up from 26,728,441 as of June 30, 2025, representing a growth of approximately 0.84%[11]. - The total stockholders' deficiency increased from $32,798,917 to $33,412,378, indicating a decline in overall equity position[11]. - The company’s accumulated deficit reached $140,968,401 as of September 30, 2025, reflecting ongoing financial challenges[11]. Cash Flow and Financing - Cash generated from operating activities was $42,241 for the six months ended September 30, 2025, a turnaround from cash used of $1,891,299 in the same period of 2024[14]. - Cash paid for interest during the six months ended September 30, 2025, was $1,683,697, compared to $1,235,256 in the same period of 2024, indicating increased financing costs[14]. - The Company issued $11,275,500 in Series A Convertible Promissory Notes, which accrue interest at 12% per annum, with a maturity date of one year from the final closing date[75]. - The Company issued Series C Notes totaling $1,812,700 with net proceeds of $1,100,430 after financing fees[104]. Stock-Based Compensation - The company recorded stock-based compensation of $6,001 for the ESOP during the period, contributing to the overall equity adjustments[11]. - Stock-based compensation under the ESOP was recorded at $115,863, reflecting the company's commitment to employee incentives[13]. - The Company recognized stock-based compensation of $6,001 and $11,936 for the three and six months ended September 30, 2025, respectively[202]. Employee Stock Purchase Plan (ESPP) - The Company adopted the Employee Stock Purchase Plan (ESPP) allowing eligible employees to purchase shares at a discount[206]. - The purchase price under the ESPP cannot be less than 85% of the fair market value on the commencement or purchase date[206]. - Employees can withdraw from the ESPP due to financial hardship with a request made at least 20 business days before the end of the offering period[206]. - The ESPP aims to incentivize employee ownership and engagement within the Company[206].