MDWerks, Inc. reported significant financial developments in its 10-Q filing for the period ending September 30, 2024. The company’s total assets increased to $3,294,954, up from $3,233,068 as of December 31, 2023. Current assets also rose to $579,687, compared to $549,217 at the end of the previous fiscal year. However, cash reserves decreased to $62,478 from $115,111, while accounts receivable saw a notable increase to $209,200, up from $106,734.

Total liabilities increased to $2,389,217 from $2,072,851, with current liabilities rising to $1,342,044 from $1,067,106. Stockholders’ equity decreased to $905,737 from $1,160,217, primarily due to an accumulated deficit of $(1,648,868) as of September 30, 2024.

In terms of revenue, MDWerks reported $1,058,707 for the three months ended September 30, 2024, a significant increase from $0 in the same period of 2023. For the nine months ended September 30, 2024, total revenue reached $2,015,261, also compared to $0 for the same period in the prior year. Operating expenses for the three months ended September 30, 2024, were $569,938, a substantial rise from $129,132 in 2023.

Net income for the three months ended September 30, 2024, was $157,024, compared to a net income of $35,491 for the same period in 2023. However, for the nine months ended September 30, 2024, the company reported a net loss of $(909,480), a significant increase from a loss of $(75,712) in the same period of 2023.

Cash used in operating activities for the nine months ended September 30, 2024, was $(662,693), compared to $(266,815) in 2023. Conversely, cash provided by financing activities increased to $617,050 from $491,648 in the previous year. These figures reflect the company's ongoing adjustments and strategic decisions in a changing market environment.