Cycurion, Inc.

For the period ended Sep 30, 2025. Filed Nov 14, 2025.

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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, 2025 · Filed Nov 14, 2025

CYCU$2.470.0%Stored close · as of Nov 10, 2026

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Contents

Consolidated Balance Sheets

	September 30, 2025	December 31, 2024
Assets:
Cash and cash equivalents	$3,652,074	$38,742
Restricted cash	-	2,048
Accounts receivable, net	3,097,054	10,353,708
Other receivables	230,175	434,391
Prepaid expenses and other current assets	57,137	99,463
Total current assets	7,036,440	10,928,352
Deposit for acquisition target	-	2,000,000
Property and equipment, net	-	20,321
Software development costs	4,419,981	4,151,981
Intangible assets, net	-	25,000
Security deposits	10,351	10,351
Goodwill	20,842,508	6,592,304
Investments held in trust account	-	1,834,540
Total non-current assets	25,272,840	14,634,497
Total Assets	$32,309,280	$25,562,849
Liabilities, Mezzanine and Stockholders’ Equity:
Bank loan-revolving credit line	$3,231,067	$3,249,067
Bank loan - current portion	276,012	774,095
Loans payable - current portion	885,240	408,516
Factoring liability	1,681,981	-
Subordinated convertible promissory notes	-	3,333,335
Promissory notes	2,658,663	2,486,989
Loans payable - related parties	123,650	148,088
Accounts payable	2,508,771	3,578,374
Due to related party	18,000	-
Accrued liabilities	4,053,326	3,601,242
Excise tax payable	1,167,173	1,157,161
Total current liabilities	16,603,883	18,736,867
Loans payable - non-current portion	295,296	146,798
Series A Convertible preferred stock ($0.001 par value, 500,000 shares designated, 0 and 345,528 issued and outstanding, respectively)	-	1,294,117
Total non-current liabilities	295,296	1,440,915
Total liabilities	16,899,179	20,177,782
Commitments and contingencies (Note 21)
Mezzanine Equity:
Common stock subject to possible redemption, $0.0001 par value, 0 and 5,796 shares at redemption value of approximately $11.03 per share, respectively	-	1,917,309
Stockholders’ Equity:
Preferred stock ($0.0001 par value, 20,000,000 shares authorized)
Series A convertible preferred stock ($0.0001 par value, 110,000 shares designated, 0 and 0 issued and outstanding, respectively)	-	-
Series B convertible preferred stock ($0.0001 par value, 3,000 shares designated, 1 and 3,000 issued and outstanding, respectively)	-	-
Series C convertible preferred stock ($0.0001 par value, 5,000 shares designated, 4,851 issued and outstanding)	-	-
Series D convertible preferred stock ($0.0001 par value, 6,666,700 shares designated, 150,000 and 0 issued and outstanding, respectively)	15	-
Series E convertible preferred stock ($0.0001 par value, 100 shares designated, 51 and 0 issued and outstanding, respectively)	-	-
Series F convertible preferred stock ($0.0001 par value, 10,000 shares designated, 0 and 0 issued and outstanding, respectively)	-	-
Series G convertible preferred stock ($0.0001 par value, 10,000 shares designated, 3,318 and 0 issued and outstanding, respectively)
Common stock ($0.0001 par value, 300,000,000 shares authorized, 2,662,489 and 353,087 shares issued and outstanding, respectively)	266	35
Additional paid in capital	40,866,328	6,671,084
Accumulated deficit	(21,773,931)	(3,203,361)
Total stockholders’ equity attributable to Cycurion	19,092,678	3,467,758
Deficit attributable to noncontrolling interests	(3,682,577)	-
Total stockholders’ equity	15,410,101	3,467,758
Total liabilities and stockholders’ equity	$32,309,280	$25,562,849
See accompanying notes to unaudited consolidated financial statements.

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