Cycurion, Inc.
For the period ended Dec 31, 2024. Filed Apr 17, 2025.
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FY2024 · Filed Apr 17, 2025
CYCU$2.47+3.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
CYCURION, INC. AND ITS SUBSIDIARIES
| December 31, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets | ||
| Cash and Cash Equivalent | $38,742 | $607,869 |
| Restricted cash | 2,048 | - |
| Accounts receivable, net | 10,353,708 | 7,093,371 |
| Other receivables | 434,391 | 455,979 |
| Note receivable - WAVS | - | 200,000 |
| Prepaid expenses and other current assets | 99,463 | 56,015 |
| Total current assets | $10,928,352 | $8,413,234 |
| Non-current assets | ||
| Deposit for acquisition target | 2,000,000 | 2,000,000 |
| Fixed assets, net | 20,321 | 33,662 |
| Software development costs, net | 4,151,981 | 3,703,981 |
| Intangible asset, net | 25,000 | 41,667 |
| Security deposits | 10,351 | 10,351 |
| Goodwill | 6,592,304 | 6,592,304 |
| Investments held in Trust Account | 1,834,540 | - |
| Total non-current assets | 14,634,497 | 12,381,965 |
| Total Assets | $25,562,849 | $20,795,199 |
| Liabilities, Mezzanine and Stockholders’ Equity | ||
| Current liabilities | ||
| Bank loan-revolving credit line | 3,249,067 | 2,996,753 |
| Bank loan-current portion | 774,095 | 742,141 |
| Loans payable – current portion | 408,516 | 408,516 |
| Subordinated convertible promissory notes | 3,333,335 | 3,333,335 |
| Promissory notes | 2,156,989 | 1,561,111 |
| Loans payable - related parties | 148,088 | 587,400 |
| Accounts payable | 3,552,674 | 2,066,760 |
| Accrued liabilities | 3,601,242 | 2,158,255 |
| Income Tax Payable | 12,500 | - |
| Franchise tax payable | 13,200 | - |
| Excise tax payable | 1,157,161 | - |
| Advance from Sponsor | 330,000 | - |
| Deferred revenue | - | 253,902 |
| Total current liabilities | 18,736,867 | 14,108,173 |
| Long-term loan payable | 146,798 | 146,798 |
| Series A convertible preferred stock ($0.001 par value, 500,000 shares designated, 345,528 issued and outstanding) | 1,294,117 | 1,294,117 |
| Total non-current liabilities | 1,440,915 | 1,440,915 |
| Total Liabilities | $20,177,782 | $15,549,088 |
| Commitments and contingencies [Note 18] | - | - |
| Mezzanine Equity | ||
| Common stock subject to possible redemption, $0.0001 par value, 173,879 shares at redemption value of approximately $11.03 per share at December 31, 2024 | 1,917,309 | - |
| Stockholders’ Equity | ||
| Preferred stock ($0.0001 par value, 20,000,000 shares authorized) | ||
| Series B convertible preferred stock ($1.00 stated value, 3,000 shares designated, 3,000 and 2,000 issued and outstanding, respectively) | - | - |
| Series C convertible preferred stock ($82.46 stated value, 5,000 shares designated, 4,851 issued and outstanding) | - | - |
| Common stock ($0.0001 par value, 70,000,000 shares authorized, 10,592,607 and 7,341,607 shares issued and outstanding) | 1,059 | 1,028 |
| Additional paid in capital | 6,670,060 | 9,678,045 |
| Accumulated deficit | (3,203,361) | (4,432,962) |
| Total Stockholders’ Equity | 3,467,758 | 5,246,111 |
| Total Liabilities and Stockholders’ Equity | $25,562,849 | $20,795,199 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.