Nu-Med Plus, Inc. reported its financial results for the three and nine months ended September 30, 2024, revealing continued operational challenges and strategic developments. The company, which focuses on the design and marketing of medical devices utilizing nitric oxide, has not generated any revenue during the reporting period.

As of September 30, 2024, Nu-Med Plus had total assets of $6,841, a decrease from $6,806 at the end of 2023. Current assets included $4,041 in cash and $2,800 in prepaid expenses. Current liabilities rose to $211,382 from $160,207 at the end of 2023, contributing to a working capital deficiency of $204,541. The stockholders' deficit slightly increased to $(9,882,777) from $(9,824,987) at the end of the previous fiscal year.

Operating expenses for the three months ended September 30, 2024, totaled $17,417, up from $15,146 in the same period of 2023. This increase was primarily driven by higher professional fees and filing costs, which were partially offset by reductions in investor relations and rent expenses. The operating loss for the quarter was $(17,417), compared to $(15,146) in the prior year. The net loss for Q3 2024 was $(18,677), compared to $(16,406) in Q3 2023.

For the nine months ended September 30, 2024, total operating expenses were $54,037, a decrease from $65,190 in the same period in 2023. This reduction was mainly due to lower legal fees and rent expenses. The net loss for the nine-month period was $(57,790), an improvement from $(68,930) in 2023.

In terms of strategic developments, Nu-Med Plus entered into a Share Exchange Agreement for a merger with YourSpace America, Inc. on April 25, 2024, which was later amended to close upon completion of YSA's financial audit. However, on October 28, 2024, the agreement was terminated, and Mr. Colvin resigned as President and CEO, with Mr. Hayde appointed as his successor.

The company is currently suspended in product development pending a capital infusion, requiring approximately $1.2 million in funding over the next 12 months to execute its business plan. Nu-Med Plus continues to rely on a small group of investors for funding, and without additional financing, its operational viability may be at risk.