sunspotter
2 months ago
"The Company has not developed a commercially viable product, has not generated any significant revenue to date, and has incurred losses since inception, resulting in a net accumulated deficit at September 30, 2024. These factors raise substantial doubt about the Companyβs ability to continue as a going concern."
No kidding.
Still, we have an explanation why the normally amiable if somewhat obtuse PnP has been a bit snitty recently:
"General and administrative fees dropped by $41,429 from $85,018 to $43,589 primarily from a decrease in spending on social media advertising"
A 50% pay cut will do that to a chap.
Mind you, I do wonder why an alleged R&D start-up is spending any money on social media, especially as in the last two years they've spent almost as much on social media as they claim to have spent on R&D:
"Research and development expenditures increased slightly year over year with a change of $2,669 from $75,956 to $78,625"
Something not quite right with this picture, somehow.
Here's the full 10-Q (unaudited) in all its gory detail:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1128189/000107997324001493/pktx_10q-093024.htm