Mitesco, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
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CONSOLIDATED STATEMENTS OF OPERATIONS
| For the Years Ended | |||
|---|---|---|---|
| December 31, | |||
| 2024 · 2023 | |||
| Revenue | $43,700 | $ | - |
| Operating expenses: | |||
| Cost of operations | 15,922 | - | |
| General and administrative | 1,191,319 | 2,454,668 | |
| Impairment of fixed assets | - | 132,000 | |
| Total operating expenses | 1,207,241 | 2,586,668 | |
| Net Operating Loss | (1,163,541) | (2,586,668) | |
| Other income (expense): | |||
| Interest expense | (409,745) | (1,615,591) | |
| Interest expense - related parties | (28,474) | (109,502) | |
| Equity investment incentives | - | (7,644,077) | |
| Financing costs | - | (18,617) | |
| Loss on legal settlement | - | (18,759) | |
| Loss on true-up shares | - | (119,370) | |
| (Loss) Gain on settlement of accounts payable | 2,289,283 | 185,487 | |
| Gain on sale of assets | - | 8,876 | |
| Gain on conversion of notes into common stock | 515,964 | 25,000 | |
| (Loss) on conversion of accrued salaries and Series D preferred stock into Series F preferred stock | - | (25,000) | |
| Gain on settlement of operating leases | 869,690 | - | |
| Other Income | - | 40,622 | |
| Loss on revaluation of derivative liabilities | (4,585,124) | (85,773) | |
| Total other income (expense) | (1,348,406) | (9,376,704) | |
| Loss before provision for income taxes | (2,511,947) | (11,963,372) | |
| Provision for income taxes | - | - | |
| Net loss from continuing operations | $(2,511,947) | $(11,963,372) | |
| Net loss from discontinued operations | - | (1,368,991) | |
| Net loss | (2,511,947) | (13,332,363) | |
| Preferred stock dividends | (893,828) | (1,600,241) | |
| Preferred stock dividends - related parties | (139,901) | (119,540) | |
| Deemed contribution | 703,420 | - | |
| Net loss available to common shareholders | $(2,842,256) | $(15,052,144) | |
| Net loss per share from continuing operations – basic | $(0.42) | $(2.64) | |
| Net loss per share from discontinued operations – basic | 0.00 | (0.26) | |
| Net loss per share - basic and diluted - basic | (0.42) | (2.91) | |
| Net loss per share from continuing operations – diluted | $(0.42) | $(2.64) | |
| Net loss per share from discontinued operations – diluted | 0.00 | (0.26) | |
| Net loss per share - basic and diluted - diluted | (0.42) | (2.91) | |
| Weighted average shares outstanding - basic | 6,733,863 | 5,178,468 | |
| Weighted average shares outstanding - diluted | 6,733,863 | 5,178,468 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.