Summary by Futu AI
Aclarion, Inc., a healthcare technology company, reported financial results for the quarter ended June 30, 2024. Revenue for the quarter was $10,971, a decrease from $17,072 in the same period last year. The company experienced a gross loss of $12,323 compared to a loss of $2,229 in the previous year, primarily due to the conclusion of certain clinical activities. Operating expenses totaled $1,123,238, with a decrease in general and administrative expenses from $946,175 to $696,099. The net loss for the quarter was $1,238,077, an improvement from a net loss of $1,464,557 in the prior year. The company's cash position, including restricted cash, was $1,182,687, which is expected to fund operations into the third quarter of 2024. Aclarion's future plans include raising additional funds to continue technology development, with management actively seeking funding options. The company's financial statements reflect the impact of a reverse stock split and the issuance of new shares through a public offering and an equity line agreement.
