ZIVO BIOSCIENCE(US:ZIVO)2025-11-14 21:39Revenue Performance - Total revenue for the three months ended September 30, 2025, was $65,625, a 108% increase from $31,500 in the same period in 2024[100] - For the nine months ended September 30, 2025, total revenue was $119,025, an increase of $51,805 from $67,220 in the same period in 2024[108] Profitability and Loss - Gross margin for the same quarter was $21,288, compared to $9,450 in the prior year, reflecting improved profitability[100] - The net loss for the three months ended September 30, 2025, was $1,033,056, compared to a net loss of $2,268,597 in the same period last year[100] Expenses - Research and development expenses decreased to approximately $203,444 in Q3 2025 from $326,361 in Q3 2024, a reduction of about 37%[104] - General and administrative expenses were approximately $836,187 for Q3 2025, down from $1.9 million in Q3 2024, a decrease of approximately 56%[107] - Research and development expenses for the nine months ended September 30, 2025, totaled approximately $3.5 million, up from $2.9 million in the comparable period in 2024[111] - Gross research and development spending for the nine months ended September 30, 2025, was approximately $710,000, a decrease of $2.2 million from the same period in 2024[112] - Labor and other internal expenses decreased to $643,628 in 2025 from $2,855,500 in 2024, primarily due to a reduction in non-cash compensation[113] - General and administrative expenses were approximately $3.4 million for the nine months ended September 30, 2025, down from $8.9 million in the prior year, reflecting a decrease of approximately $5.5 million[115] Cash Flow and Liquidity - The company incurred cash used in operating activities of $2.2 million for the nine months ended September 30, 2025, a decrease of $1.2 million from the comparable prior year period[125] - Financing activities generated approximately $688,000 in the nine months ended September 30, 2025, a decrease of approximately $2.3 million from $3.3 million in the prior year[127] - As of September 30, 2025, the company had cash of $57,222, indicating a critical liquidity position[116] - The company estimates a cash requirement of approximately $6.0 million over the next 12 months to fund basic operations, excluding research and development[128] Funding and Agreements - The company entered into a Convertible Loan Agreement for $250,000 at an interest rate of 10%, with a term of 24 months, as part of a $2 million unsecured convertible note program[118] - The company has entered into twenty-one License Co-Development Participation Agreements for an aggregate of $2,985,000, providing a 44.775% revenue share from licensing fees[119] - The company has substantial doubt about its ability to continue as a going concern without securing additional funding[122] Product Marketing - ZIVO's algal biomass is being marketed under the brand Zivolife®, focusing on the North American green powder food market[96] - The company plans to leverage its GRAS study and cGMP audit record to support the sale of its algal biomass as a dietary supplement[101]