Agentix Corp. Reports Continued Revenue Lack and $143,894 Net Loss for December Quarter

Agentix Corp. reported its financial results for the quarter ending December 31, 2024, revealing a continued lack of revenue, consistent with the previous fiscal period. The company recorded a net loss of $143,894 for the three months ended December 31, 2024, compared to a net income of $6,374 for the same period in 2023. For the nine months ending December 31, 2024, the net loss was $385,280, a decrease from a loss of $582,156 in the prior year. The company's accumulated deficit increased to $6,339,760 as of December 31, 2024, up from $5,954,480 at the end of the previous fiscal year.

In terms of operational expenses, Agentix Corp. reported total operating expenses of $96,815 for the three months ended December 31, 2024, a significant increase from $15,846 in the same period last year. This rise was primarily driven by increased research and development costs, which totaled $23,287, compared to a gain of $87,304 in the prior year, largely due to a one-time credit in 2023. General and administrative expenses also decreased to $16,896 from $25,110, reflecting lower software expenses. The company experienced a foreign exchange loss of $35,784, contrasting with a gain of $25,434 in the previous year.

Agentix Corp. has not made any significant acquisitions or product launches during this reporting period. The company continues to focus on its clinical-stage biotechnology initiatives aimed at developing therapeutic agents for metabolic diseases. As of December 31, 2024, the company had 40,066,951 shares of common stock outstanding, with no changes in the number of shares issued compared to the previous fiscal period. The company’s cash position improved slightly to $8,273 from $6,535 at the end of the previous quarter, but it remains insufficient to support ongoing operations.

The company’s financial position raises concerns about its ability to continue as a going concern, as it reported negative cash flows from operations and significant liabilities totaling $3,070,854. Agentix Corp. is actively seeking additional funding to support its operations and development activities, which may involve equity financing or debt financing. However, the company cautions that there are no assurances it will be able to secure the necessary funding, which is critical for its survival and future growth.

Looking ahead, Agentix Corp. acknowledges the challenges it faces in generating sufficient revenue and maintaining operations. The management has indicated that the company will need to implement its business plan effectively and secure additional financing to continue its development efforts. The outlook remains uncertain, with the potential for further losses if funding is not obtained. The company has not reported any material subsequent events since the end of the reporting period, aside from a $24,000 receipt from a related party loan.