Agentix Corp. (formerly FairWind Energy, Inc.) reported its financial results for the six months ended September 30, 2024, revealing significant challenges in revenue generation and profitability. The company, which focuses on developing therapeutic agents for metabolic diseases, reported no revenue for both the current and prior fiscal periods.

Total operating expenses for the three months ended September 30, 2024, were $93,010, a substantial decrease from $353,155 in the same period of 2023. For the six months ended September 30, 2024, operating expenses totaled $244,315, down from $754,290 in the previous year. This reduction was primarily attributed to lower professional fees, research and development costs, and general administrative expenses. Specifically, professional fees decreased to $141,310 from $237,307, while research and development expenses fell to $67,351 from $216,548. General and administrative expenses also saw a decline, totaling $35,654 compared to $300,435 in the prior year.

Despite the reduction in expenses, Agentix Corp. reported a net loss of $(241,386) for the six months ended September 30, 2024, an improvement from a net loss of $(588,530) in the same period of 2023. The loss before income tax provision for the three months ended September 30, 2024, was $(90,669), compared to $(178,972) in the prior year. The accumulated deficit as of September 30, 2024, stood at $(409,558), up from $(178,972) a year earlier.

The company’s cash position has also deteriorated, with cash at the end of the reporting period amounting to $6,345, down from $27,538 a year prior. Agentix Corp. reported a net cash provided by operating activities of $4,979 for the six months ended September 30, 2024, a significant improvement from $(7,063) in the same period of 2023. However, the company continues to face substantial funding needs to support its operations and business plan.

Total current assets increased to $169,960 as of September 30, 2024, from $106,372 as of March 31, 2024. Conversely, total current liabilities rose to $3,006,736 from $2,666,594 during the same period, resulting in a worsening stockholders' deficit of $(2,836,776).

Agentix Corp. has also engaged in financing activities, including the issuance of debt totaling $30,000 for the six months ended September 30, 2024, down from $70,000 in the previous year. The company is actively seeking additional funding through equity or debt financing to sustain its operations, although there is substantial doubt regarding its ability to continue as a going concern.