BIOADAPTIVES INC
For the period ended Sep 30, 2024. Filed Nov 19, 2024.
View on SEC.govAbout 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.
Sep 30, 2024 · Filed Nov 19, 2024
BDPTStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-19.
0001640334-24-001302
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of operationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-19.
0001640334-24-001752
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of operationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 75 previous paragraphs and 73 current paragraphs.
60 unchanged; 12 reworded; 1 added; 1 removed; 2 previous and 0 current paragraphs rearranged.
Tables are not compared: 4 previous and 4 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
During the three months ended September 30, 2024, the Company did not generate any revenues.
Removed paragraphs (1)
Previous report
Cost of Sales
Reworded paragraphs (12)
Previous wording
Liquidity -- Financial Performance – Three and Six Months Ended June 30, 2024 and 2023
Current wording
Liquidity -- Financial Performance – Three and Nine months Ended September 30, 2024 and 2023
Previous wording
We had a net loss of $183,017 for the three-month period ended June 30, 2024, which was $39,100 more than the net loss of $143,917 for the three-month period ended June 30, 2023. The change in our results is mainly due to the Change in other income (Expenses), impairment loss of patent and write-off of inventories recorded as const of revenue.
Current wording
We had a net loss of $37,649 for the three-month period ended September 30, 2024, which was $24,588 more than the net loss of $13,061 for the three-month period ended September 30, 2023. The change in our results is mainly due to the Change in other income (Expenses), impairment loss of patent and write-off of inventories recorded as const of revenue.
Previous wording
We had a net loss of $489,724 for the six-month period ended June 30, 2024, which was $58,620 more than the net loss of $431,104 for the six-month period ended June 30, 2023. The change in our results is mainly due to impairment loss of patent and write-off of inventories recorded as const of revenue.
Current wording
We had a net loss of $527,373 for the nine-month period ended September 30, 2024, which was $83,208 more than the net loss of $444,165 for the nine-month period ended September 30, 2023. The change in our results is mainly due to impairment loss of patent and write-off of inventories recorded as const of revenue.
Previous wording
Other expenses consist of interest expenses of $72,584 and $103,316, change in fair value of derivative liabilities of $279,280 and $252,844, other income of $4,950 and 0 and unrealized loss on marketable securities of $0 and $20 for the six months ended June 30, 2024 and 2023, respectively.
Current wording
Other expenses consist of interest expenses of $9,697 and $20,625, change in fair value of derivative liabilities of $93,989 and $261,488, unrealized loss on marketable securities of $0 and $11 and loss for debt settlement of $0 and $161,700 for the three months ended September 30, 2024 and 2023, respectively.
Previous wording
As a result of our operating expenses the Company reported a net loss of $183,017 and $143,917 for the three months ended June 30, 2024 and 2023, respectively.
Current wording
As a result of our operating expenses, the Company reported a net loss of $37,649 and $13,061 for the three months ended September 30, 2024 and 2023, respectively.
Previous wording
The following table summarizes key items of comparison and their related increase (decrease) for the six-month periods ended June 30, 2024, and 2023:
Current wording
The following table summarizes key items of comparison and their related increase (decrease) for the nine-month periods ended September 30, 2024, and 2023:
Previous wording
Other expenses consist of interest expenses of $17,969 and $52,253, change in fair value of derivative liabilities of $77,020 and $35,705, other income of $4,950 and 0 and unrealized loss on marketable securities of $0 and 20 for the three months ended June 30, 2024 and 2023, respectively.
Current wording
Other expenses consist of interest expenses of $82,281 and $123,941, change in fair value of derivative liabilities of $185,291 and $8,644, other income of $4,950 and 0, unrealized loss on marketable securities of $0 and $31 and loss on settlement of debt $0 and $161,700 for the nine months ended September 30, 2024 and 2023, respectively.
Previous wording
As a result of our operating expenses the Company reported a net loss of $489,724 and $431,104 for the six months ended June 30, 2024 and 2023, respectively.
Current wording
As a result of our operating expenses the Company reported a net loss of $527,373 and $444,165 for the nine months ended September 30, 2024 and 2023, respectively.
Previous wording
Our balance sheet as of June 30, 2024, reflects current assets of $8,735, including cash in the amount of $235. We currently meet cash requirements by infusions of cash from issuance of notes to finance partners, through RegA subscriptions and advances from shareholders. Most of these notes have conversion features that require accounting for derivative liabilities. We are hopeful that future Reg. A+ offerings will help to reduce our financing costs but can provide no assurances as to whether our offering will be successful.
Current wording
Our balance sheet as of September 30, 2024, reflects current assets of $46,393, including cash in the amount of $43,893. We currently meet cash requirements by infusions of cash from issuance of notes to finance partners, through RegA subscriptions and advances from shareholders. Most of these notes have conversion features that require accounting for derivative liabilities. We are hopeful that future Reg. A+ offerings will help to reduce our financing costs but can provide no assurances as to whether our offering will be successful.
Previous wording
Net cash used in operating activities during the six months ended June 30, 2024, was $92,637, an increase of $16,309 from net cash used of $76,328 in operating activities during the six months ended June 30, 2023.
Current wording
Net cash used in operating activities during the nine months ended September 30, 2024, was $148,979, an increase of $16,502 from net cash used of $132,477 in operating activities during the nine months ended September 30, 2023.
Previous wording
Net cash provided by financing activities during the six months ended June 30, 2024 was $32,096 from proceeds from notes payable. Net cash provided by financing activities during the six months ended June 30, 2023 was $91,044 from proceeds from related party.
Current wording
Net cash provided by financing activities during the nine months ended September 30, 2024 was $132,096 from proceeds from notes payable and issuance of preferred stock. Net cash provided by financing activities during the nine months ended September 30, 2023 was $259,144 from proceeds from issuance of common stock, related party, net of repayment, and convertible notes.
Previous wording
The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred losses since inception and had an accumulated deficit of $8,753,869, and a working capital deficit of $1,838,312 as of June 30, 2024. The Company requires capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the future issuances of common stock is unknown. Obtaining additional financing, successful development of the Company’s contemplated plan of operations, and the transition, ultimately, to profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raises substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.
Current wording
The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred losses since inception and had an accumulated deficit of $6,861,859, and a working capital deficit of $1,805,361 as of September 30, 2024. The Company requires capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the future issuances of common stock is unknown. Obtaining additional financing, successful development of the Company’s contemplated plan of operations, and the transition, ultimately, to profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raises substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
Our revenues have been derived entirely from product sales. It reflects a mixture predominantly through wholesale of LiveStock Impact, Inc products and the retail of a small amount of BioAdaptives human supplements. Because of the wholesale element, margins for products are much tighter than previously when all sales were through retail web sales.
Previous report — wording carried elsewhere
Our cost of sales is primarily derived from contract manufacturing expenses and shipping and handling expenses related to customer fulfillment. We also expense marketing expenses, which includes the cost of samples or products provided for promotional purposes and website content development. We have contracted for consulting services relating to website and product label redesign and another web sales outreach campaign, and we expect expenses to accrue for such services in 3 rd.Q 2024, and beyond.