Safety Shot, Inc. (Safety Shot) reported its financial performance for the quarter ended June 30, 2024, revealing a net loss of $8,274,094, a significant increase from the net loss of $359,591 in the same period in 2023. The company's revenue from sales was $710,240 for the quarter, compared to $23,305 in the previous year. However, the cost of sales exceeded the revenue, resulting in a gross profit of $205,712, which was overshadowed by substantial operating expenses totaling $8,618,618. The diluted net loss per share was $0.16, compared to a loss of $0.01 per share in 2023. Safety Shot's total assets decreased to $10,694,624 from $12,709,180 at the end of 2023, while total liabilities increased slightly to $4,225,173 from $3,892,044. The company's cash position also weakened, with cash on hand decreasing from $3,833,349 to $3,223,783. In terms...Show More

Safety Shot, Inc. (Safety Shot) reported its financial performance for the quarter ended June 30, 2024, revealing a net loss of $8,274,094, a significant increase from the net loss of $359,591 in the same period in 2023. The company's revenue from sales was $710,240 for the quarter, compared to $23,305 in the previous year. However, the cost of sales exceeded the revenue, resulting in a gross profit of $205,712, which was overshadowed by substantial operating expenses totaling $8,618,618. The diluted net loss per share was $0.16, compared to a loss of $0.01 per share in 2023. Safety Shot's total assets decreased to $10,694,624 from $12,709,180 at the end of 2023, while total liabilities increased slightly to $4,225,173 from $3,892,044. The company's cash position also weakened, with cash on hand decreasing from $3,833,349 to $3,223,783. In terms of business development, Safety Shot launched its dietary supplement in December 2023, which is designed to lower blood alcohol content. The company continues to focus on its health and wellness product lines and is committed to innovation in this area. Looking ahead, Safety Shot faces substantial doubt about its ability to continue as a going concern, as noted by its auditors, due to significant accumulated deficits and cash flow used in operations. Despite this, the company is pursuing expansion and development plans and has generated revenue through product sales and intellectual property licensing.