IIOT-OXYS, Inc. reported a significant decline in financial performance for the fiscal year ending December 31, 2024, with revenues dropping to $2,500 from $114,666 in 2023. The company incurred a net loss of $764,655, a decrease from the previous year's loss of $1,136,460. Operating expenses for 2024 totaled $428,274, which included payroll costs of $200,000 and legal fees of $147,991. The substantial decrease in revenue was attributed to limited funding for sales and marketing efforts, which has hindered the company's ability to grow its customer base and increase sales.
In terms of operational developments, IIOT-OXYS has faced challenges in raising capital, which has affected its strategic initiatives. The company has not been able to secure significant funding through existing financing agreements, leading to a working capital deficit of $2,477,428 as of December 31, 2024. The leadership team has not received compensation since mid-April 2023, and the company is exploring options for mergers or acquisitions to enhance its market position. As of April 28, 2025, the company employed only two individuals, including its CEO and COO, reflecting a lean operational structure.
Despite these challenges, IIOT-OXYS continues to focus on its core business of developing edge computing systems for the Industrial Internet. The company aims to leverage its proprietary algorithms and data analytics capabilities to serve markets such as smart manufacturing and structural health monitoring. The global smart manufacturing market is projected to grow from $233.3 billion in 2024 to $479 billion by 2029, indicating potential opportunities for IIOT-OXYS if it can secure adequate funding for its operations and marketing efforts.
Looking ahead, the company anticipates moderate revenue growth in 2025, contingent upon its ability to raise funds for sales and marketing initiatives. Management believes that the value created through its business development efforts and the strength of its technology could attract potential partners for acquisition or merger. However, the company acknowledges the significant headwinds it faces, including market conditions and competition from larger firms in the edge computing space. The outlook remains uncertain, with management emphasizing the need for strategic funding to support future growth.
About IIOT-OXYS, Inc.
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