Sentage (US:SNTG) Prnewswire·2024-12-17 21:00Core Viewpoint - Sentage Holdings Inc. reported a significant decline in total operating revenue for the first six months of fiscal year 2024, with revenue dropping to $nil from $82 in the same period last year, indicating a 100% decrease as the company shifts focus to new business ventures [2][11]. Financial Highlights - Total operating revenue was $nil for the six months ended June 30, 2024, compared to $82 for the same period last year, representing a 100% decrease [2]. - The net loss for the first half of fiscal year 2024 was $1.12 million, slightly higher than the net loss of $1.08 million for the same period last year [3][6]. - Basic and diluted loss per share was $0.47, compared to $0.46 for the same period last year [7][15]. Operating Expenses - Selling, general and administrative expenses increased by $43,366, or 4%, to $1,123,711 in the first half of fiscal year 2024 from $1,080,345 for the same period last year [4]. - Professional consulting expenses rose by $122,525, or 30%, to $534,675, primarily due to higher payments for consulting services [4]. Cash and Cash Equivalents - As of June 30, 2024, the company had cash and restricted cash totaling $1.61 million, down from $2.26 million as of December 31, 2023 [8][16]. Cash Flow - Net cash used in operating activities was $1.09 million, compared to $1.01 million for the same period last year [9]. - Net cash provided by financing activities was $0.43 million, a significant improvement from a net cash used of $(4,709) for the same period last year [10].