Regen BioPharma Reports Stable Revenue but Significant Losses for Fiscal Year 2024

Regen BioPharma, Inc. reported its financial results for the fiscal year ending September 30, 2024, revealing total revenues of $236,560, consistent with the previous year. The revenue comprised $110,000 from related parties and $126,560 from licenses granted to Oncology Pharma, Inc. Operating expenses significantly decreased to $653,781 from $923,509 in the prior year, primarily due to reduced consulting and professional fees, which fell from $606,237 to $363,961. Despite the reduction in operating expenses, the company recorded a net loss of $668,255, a shift from a net income of $1,156,507 in the previous fiscal year, largely attributed to a substantial derivative income recognized in 2023.

The company’s working capital deficit increased to $(5,235,105) as of September 30, 2024, compared to $(5,176,966) the previous year. Current assets rose to $143,351, driven by an increase in accounts receivable, while current liabilities also increased to $5,378,456. The company reported a cash balance of $716 at the end of the fiscal year, down from $121,037 in 2023, indicating a net cash used in operating activities of $(751,536), a significant increase from $(173,917) in the prior year.

Strategically, Regen BioPharma has engaged in various financing activities, including the issuance of common shares for cash and services. Notably, the company issued 500,000 common shares as a commitment fee in connection with a $250,000 promissory note. The company also entered into a securities purchase agreement with Coventry Enterprises, LLC, which included a 10% unsecured promissory note. These actions reflect the company's ongoing efforts to secure funding for its operations and development plans.

Operationally, Regen BioPharma continues to focus on the development of regenerative medical applications, although it has not yet licensed any therapies for marketing. The company’s management has indicated that it will require additional capital to support its business model and ongoing research and development efforts. The outlook remains cautious, with management acknowledging substantial doubt about the company's ability to continue as a going concern without securing further funding.

In summary, Regen BioPharma's fiscal year 2024 results highlight a stable revenue stream but significant operational losses and increased liabilities. The company is actively pursuing financing options to support its development initiatives while navigating the challenges of maintaining liquidity and operational viability.