Product Development and Innovation - Bonk, Inc. launched the Sure Shot Dietary Supplement in December 2023, aimed at reducing blood alcohol content with 28 active ingredients [174][177]. - Clinical trials for the Sure Shot Dietary Supplement showed a statistically significant reduction in Blood Alcohol Content (BAC) with a p-value of 0.002, indicating effectiveness [183]. - The Sure Shot Dietary Supplement is manufactured in compliance with Good Manufacturing Practices (GMP) to ensure quality and safety [178]. - The company has conducted extensive informal research since 2010, involving hundreds of pre-clinical tests to refine the Sure Shot Dietary Supplement [185]. - The company has received a Notice of Allowance for a new patent related to the Sure Shot Dietary Supplement, indicating ongoing innovation and product development [196]. Financial Performance - Beverage sales for the three months ended September 30, 2025, reached $1,514,817, a significant increase from $110,213 in the same period in 2024, reflecting a growth of approximately 1,274% [205]. - For the nine months ended September 30, 2025, beverage sales totaled $1,601,866, compared to $519,793 in 2024, representing a growth of approximately 208% [213]. - The company reported a net loss of $33,581,216 for the three months ended September 30, 2025, compared to a net loss of $11,929,277 in 2024 [205]. - Total operating expenses for the three months ended September 30, 2025, were $17,215,566, compared to $11,348,320 in 2024, marking an increase of 52% [207]. - Total operating expenses for the nine months ended September 30, 2025, were $26,990,405, a decrease from $32,923,489 in 2024, indicating a reduction of 18% [215]. Acquisitions and Market Strategy - The company completed the acquisition of Yerbaé, a premium plant-based energy beverage company, on June 27, 2025, to enhance its presence in the functional beverage market [175][190]. - The company is exploring digital asset opportunities through a transaction with Bonk, aiming to integrate blockchain technologies into marketing strategies [176][189]. - The company aims to enhance consumer engagement through a Revenue Sharing Agreement, issuing shares in exchange for a percentage of gross revenue from LetsBonk.fun [195]. Cost and Revenue Analysis - Cost of sales for the three months ended September 30, 2025, was $1,480,760, up from $402,399 in 2024, indicating a rise of 268% due to increased revenues [206]. - Cost of sales for the nine months ended September 30, 2025, was $1,522,942, down from $2,549,099 in 2024, reflecting a decrease of 40% due to a one-time inventory write-off in 2024 [214]. Research and Development Expenses - Research and development expenses increased from $100,591 in 2022 to $1,637,117 in 2023, reflecting the company's commitment to product innovation [185]. Regulatory Environment - The company is subject to various regulations affecting the production and sale of its products, which could impact future operations and financial performance [198].
JUPITER WELLNESS(JUPW) - 2025 Q3 - Quarterly Report