Summary by Futu AI
Safety Shot, Inc. (Safety Shot) reported its financial performance for the quarter ended March 31, 2024, revealing a net loss of $15,674,671, a significant increase from the $1,292,412 loss in the same period the previous year. The company's revenue from sales was $170,732, compared to $34,788 year-on-year, while the cost of sales surged to $2,383,285 from $23,965. This resulted in a gross profit of negative $2,212,553, a stark contrast to the modest profit of $10,823 in the prior year. Operating expenses also rose sharply to $12,956,552 from $1,244,953. Basic net loss per share for the quarter was $(0.33), compared to $(0.05) in the previous year. Total assets decreased to $9,214,880 from $12,709,180, and total liabilities and shareholders' equity also saw a reduction. The company's cash position weakened, with cash and cash equivalents...Show More