CTT Pharmaceutical Reports Increased Net Loss and Decreased Equity for Six Months Ending June 30, 2026

CTT Pharmaceutical Holdings, Inc. reported a net loss of $99,908 for the six months ending June 30, 2026, compared to a net loss of $90,273 for the same period in 2025, marking an increase in losses of $9,635. The company's total operating expenses rose to $99,908, up from $90,273 in the previous year, primarily driven by an increase in consulting fees, which climbed from $60,210 to $71,711. The basic and diluted loss per share remained at $(0.00) for both periods, with the weighted average shares outstanding increasing from 57,271,737 to 59,045,065.

In terms of equity, CTT Pharmaceutical's total equity decreased to $26,043 as of June 30, 2026, down from $82,139 a year earlier. The company issued 750,000 common shares for services valued at $60,000 and 135,000 shares for cash, generating $10,801. This contrasts with the previous year, where 1,100,000 shares were issued for services and 2,157,895 shares for cash, totaling $79,999. The increase in shares outstanding reflects the company's ongoing efforts to raise capital amid its operational challenges.

Operationally, CTT Pharmaceutical has not yet commenced revenue-generating activities, as indicated in the filing. The company continues to focus on developing its drug delivery systems technology, particularly fast-dissolving oral methods. The filing also noted that the company received approval for a CIP Application from the United States Patent Office for a Nicotine Strip, which could represent a significant strategic development. Additionally, CTT has signed a Letter of Intent (LOI) with a European company to explore a potential partnership, although discussions are still in the early stages.

The company’s cash position at the end of the reporting period was $31, a decrease from $32,440 at the end of June 2025. CTT Pharmaceutical's management has expressed concerns regarding its ability to continue as a going concern, citing ongoing losses and a lack of resources. The company plans to utilize approximately $500,000 obtained through an equity line of credit or other financing to establish a manufacturing facility in 2026. However, management acknowledges that if these efforts are unsuccessful, operations will likely continue in their current form.

Looking ahead, CTT Pharmaceutical anticipates that operating losses will persist in the near term as it works to establish manufacturing capabilities and generate revenue. The company has indicated that its financial statements do not reflect any adjustments that might result if it is unable to continue as a going concern, highlighting the uncertainty surrounding its future operations.