SS Innovations International Inc

For the period ended Jun 30, 2024. Filed Sep 6, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Sep 6, 2024

SSII$2.11+11.1%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Financial Statements

	AS OF
	June 2024	Dec 2023
ASSETS · Restated
Current Assets:
Cash and cash equivalents	$1,454,675	$2,022,276
Restricted cash	5,619,490	5,029,650
Accounts receivable, net of allowances	4,603,800	1,901,244
Inventory	6,443,067	6,447,131
Prepaids and other current assets	4,501,398	3,890,017
Total Current Assets	22,622,430	19,290,319
Non- Current Assets:
Property, plant, and equipment, net	2,023,645	706,405
Right of use asset	2,448,918	2,657,554
Long Term Receivable	5,265,908	2,365,013
Restricted cash (Non current)	327,012	35,919
Loans & Advances (Related Party)	1,297,410	1,567,559
Prepaids and other non current assets	4,332,081	4,322,444
Total Non-Current Assets	15,694,975	11,654,894
Total Assets	38,317,405	30,945,213
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
Current Liabilities
Bank Overdraft Facility	7,707,534	6,018,926
Notes payable	4,450,000	-
Right of use liability, current portion	428,705	396,784
Accounts payable	1,295,003	901,550
Other accrued liabilities	3,844,064	577,040
Total Current Liabilities	17,725,305	7,894,300
Right of use liability, non current portion	2,125,906	2,351,113
Long term Liabilities	544,122	544,122
Other accrued liabilities (Non- Current)	939,150	939,150
	3,609,178	3,834,385
Total Liabilities	21,334,483	11,728,685
Commitments and contingencies
Stockholders’ (deficit) equity :
Common stock, 250,000,000 shares authorized, $0.0001 par value,170,738,194 shares and 170,710,694 shares issued and outstanding as of June 30, 2024 and December 31, 2023 respectively	17,073	17,071
Minority Interest	-
Preferred stock, $0.0001 par value per share; authorized 5,000,000 shares of Series A Non-Convertible Preferred Stock, 5000 shares and 5000 shares issued and outstanding as of June 30, 2024 and December 31, 2023	1	1
Translation adjustment	(378,165)	(374,087)
Additional Paid in Capital	48,455,054	45,104,889
Capital Reserve	899,917	899,917
Accumulated deficit	(32,010,958)	(26,431,263)
Total stockholders’ (deficit) equity	16,982,922	19,216,528
Total liabilities and stockholders’ (deficit) equity	$38,317,405	$30,945,213

CONSOLIDATED STATEMENTS OF OPERATIONS

	Three Month ended		Six Month ended
	June	June	June	June
	2024	2023	2024	2023
REVENUES
System Sales	$4,175,755	1,537,224	$11,312,947	3,028,534
Instruments Sale	182,088	-	266,785	-
Warranty Sales	28,207	38,082	37,278	58,151
Cost of revenue	(3,345,560)	(1,351,143)	(7,499,849)	(2,351,347)
GROSS (LOSS) PROFIT	1,040,491	224,163	4,117,163	735,339
OPERATING EXPENSES:
Research & Development	30,068	-	426,118
Selling, general and administrative	3,777,479	1,983,053	9,102,278	3,400,013
TOTAL OPERATING EXPENSES	3,807,546	1,983,053	9,528,396	3,400,014
Loss from operations	(2,767,056)	(1,758,890)	(5,411,234)	(2,664,675)
OTHER INCOME (EXPENSE):
Interest Expenses	(229,521)	-	(399,004)	-
Finance Income	64,741		127,600
Interest and other income, net	2	(91,533)	102,943	(173,791)
TOTAL OTHER (EXPENSE) INCOME	(164,778)	(91,533)	(168,461)	(173,791)
NET LOSS	(2,931,834)	(1,850,423)	(5,579,695)	(2,838,466)
Net loss attributable to SS Innovations International Inc.	$(2,931,834)	$(1,850,423)	(5,579,695)	(2,838,466)
Net loss per share - basic and diluted	(0.02)	(0.01)	(0.03)	(0.03)
Weighted average	170,738,204	133,791,407	170,738,204	98,172,406

	June	June	June	June
	2024	2023	2024	2023
NET LOSS	(2,931,834)	(1,850,423)	(5,579,695)	(2,838,466)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation	(1,689)	-	(4,078)	-
COMPREHENSIVE LOSS	(2,933,523)	(1,850,423)	(5,583,773)	(2,838,466)

SS INNOVATIONS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

Common Stock · Additional · Additional · Accumulated · Total
Preferred Stock · Common Stock · Common Stock · to be Issued · Paid-In · Paid-In · Accumulated · other · Capital · Stockholders'
	Number	Amount	Number	Amount	Number	Amount	Number	Amount	Capital	Capital	Deficit	comprehensive	Reserve	Deficit
BALANCE AT DECEMBER 31, 2023
(Restated)	5,000	1			170,710,694	17,071	12,500	4,849,280		40,255,609	(26,431,263)	(374,087)	899,917	19,216,528
Stock based compensation expense					-	-		1,937,202			-			1,937,202
Common stock issued					12,500	1	(12,500)	(50,000)		49,999				-
Stock issued for services					15,000	1				101,250				101,251
Translation adjustment												(2,389)		(2,389)
Net loss			-	-			-	-	-		(2,647,861)			(2,647,861)
BALANCE AT March 31, 2024	5,000	1	-	-	170,738,194	17,073	-	6,736,482	-	40,406,858	(29,079,124)	(376,476)	899,917	18,604,731
Stock based compensation expense								1,311,714						1,311,714
Translation adjustment												(1,689)		(1,689)
Net loss											(2,931,834)			(2,931,834)
BALANCE AT June 30,2024	5,000	1	-	-	170,738,194	17,073	-	8,048,196	-	40,406,858	(32,010,958)	(378,165)	899,917	16,982,922
BALANCE AT DECEMBER 31, 2022			53,887,738	5,388					11,005,896		(10,691,071)			320,213
Stock issued for services									432,672					432,672
Stock based compensation expense			-	-					1,597,693		-			1,597,693
Common stock issued			11,555,599	1,156										1,156
Translation adjustment											-			-
Accumulated other comprehensive income (loss)											(2,004,320)			(2,004,320)
Net loss			-	-			-	-	-		-			-
BALANCE AT March 31, 2023			65,443,337	6,544			-	-	13,036,261		(12,695,391)			347,414
Recapitalization			(65,443,337)	(6,544)	6,544,334	654.00			(13,036,261)	13,042,151				-
Conversion of Notes Payable to equity					7,709,871	771				6,137,770				6,138,541
Recapitalization					131,917,051	13,191				(13,191)	(4,556,208)			(4,556,208)
Accumulated other Comprehensive income (loss)												742,271		742,271.00
Net loss											(1,850,423)			(1,850,423)
BALANCE AT June 30, 2023			-	-	146,171,256	14,616	-	-	-	19,166,730	(19,102,022)	742,271		821,595

CONSOLIDATED STATEMENTS OF CASH FLOW

	For the Six Months ended
	June, 2024	June, 2023
Cash flows from operating activities:
Net loss	$(5,579,695)	$(2,838,466)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation & amortization	379,608	310,897
Operating lease liability net	149,215
Non cash lease expense
Stock compensation expense	3,248,916	-
Accounts receivable	(2,702,556)	-
Inventory	4,064	-
Prepaid and other current assets	(902,474)	(10,626,023)
Accounts payable and accured expenses	3,660,476	2,632,123
Prepaids and other non current assets	(9,637)	-
Lease Payments	(342,501)	-
Other Net cash used in operating activities	(2,094,584)	(10,521,468)
Cash flows from investing activities:
Notes Receivables - Acquisition	-	3,000,000
Purchase of property	(1,488,212)	(736,006)
Long Term Receivable	(2,900,895)	(3,771,547)
Long Term Receivable- Related Party	270,149	-
Net cash used in investing activities	(4,118,959)	(1,507,552)
Cash flows from financing activities:
Acquisition of common stock	-
Repayment of Notes	-	(2,775,000)
Proceeds from Notes payable	4,450,000	-
Net Proceeds of Demand Notes Payable (Bank Overdraft)	1,688,608	4,963,385
Accumulated other comprehensive income (loss)	-	899,917
Proceed from securities offering	101,252	8,170,061
Net cash provided by financing activities	6,239,860	11,258,363
Net change in cash	26,318	(770,657)
Effect of exchange rate on cash	(4,080)	(157,645)
Cash at beginning of year	7,051,927	1,351,364
Cash at end of year	$7,074,165	$423,062

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.