Regenerex Pharma, Inc. reported a net loss of $802,132 for the six months ended September 30, 2024, a significant improvement compared to a net loss of $2,987,024 for the same period in 2023. This reduction in net loss is attributed to a substantial decrease in operating expenses, which totaled $512,664 in the current period, down from $2,946,097 in the prior year.
The company's total current assets as of September 30, 2024, were $1,835,000, a decline from $2,912,000 as of March 31, 2024. Total assets also decreased to $632,954,000 from $766,680,000 during the same timeframe. This decline in total assets reflects a broader trend of financial contraction within the company.
On the liabilities side, total current liabilities increased to $4,850,523 from $3,843,362 as of March 31, 2024. Total liabilities rose to $5,390,117, up from $4,828,506 in the previous reporting period. The accumulated deficit as of September 30, 2024, stood at $(6,417,982), worsening from $(5,615,850) as of March 31, 2024. Additionally, the total stockholders’ deficit increased to $(4,757,163) from $(4,061,826) in the prior period.
Cash and cash equivalents decreased slightly to $294 from $372 as of March 31, 2024. The net cash used in operating activities for the six months ended September 30, 2024, was $(181,938), an improvement from $(293,286) in 2023. However, net cash provided by financing activities also decreased to $181,860 from $304,530 in the previous year.
Overall, Regenerex Pharma's financial performance for the first half of fiscal 2024 shows a marked reduction in losses and operating expenses, despite a decline in total assets and an increase in liabilities. The company continues to navigate a challenging financial landscape while managing its operational costs.
About REGENEREX PHARMA, INC.
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