As of September 30, 2024, Nordicus Partners Corporation reported total current assets of $118,469, a significant increase from $49,933 as of March 31, 2024. Total assets surged to $20,785,208 from $1,807,573 in the same period. Current liabilities also rose sharply to $152,868 from $26,405, while total equity attributed to the parent increased to $19,679,284 from $1,781,168.

For the three months ended September 30, 2024, the company generated revenue of $2,500, unchanged for the six-month period. Operating expenses for the quarter totaled $509,895, leading to a loss from operations of $(507,395) and a net loss of $(507,396). This represents a substantial increase in net loss compared to $(98,790) for the same period in 2023. For the six months ending September 30, 2024, the net loss was $(765,565), compared to $(139,086) in the prior year.

The company’s cash flow from operating activities showed a significant increase in cash used, totaling $(599,871) for the six months ending September 30, 2024, compared to $(100,136) in the previous year. Cash at the end of the period was $46,131, up from $10,772 a year earlier. Notably, the company acquired $134,572 in cash through acquisitions during this period, a first for the company.

Strategically, Nordicus Partners completed the acquisition of 95% of Orocidin A/S, a clinical-stage biopharmaceutical company, in May 2024, which has since become a subsidiary. The company also issued 3,800,000 restricted shares valued at $19 million as part of this acquisition. Additionally, the company acquired a 4.99% interest in Mag Mile Capital, Inc. in June 2023.

In terms of operational changes, the company has seen significant increases in officer compensation expenses, which rose 61% to $49,104 for the three months ended September 30, 2024, and 71% to $98,546 for the six-month period. General and administrative expenses also surged, reflecting increased costs associated with the company’s subsidiaries.

The company executed a 1-for-10 reverse stock split on November 8, 2024, which did not affect the authorized shares or par value. As of September 30, 2024, the company reported an accumulated deficit of $44,642,481 and raised substantial doubt about its ability to continue as a going concern, indicating a need for financing through existing cash, private placements, and warrant exercises.