Sigma Labs Announces Full Year 2018 Financial Results
| | | |
Sigma Labs, Inc. | | |
Condensed Statements of Operations
| | |
(Unaudited) | | | | | | | | | |
Twelve Months Ended | | | | |
December 31,
2018 | |
December 31,
2017 | | | | | | | | | |
REVENUES | $ | 388,574 | | | $ | 641,049 | | | | | | | | | | |
COST OF REVENUES | | 270,107 | | | | 272,372 | | | | | | | | | | | |
GROSS PROFIT (Loss) | |
118,467 | | | |
368,677 | | | | | | | | | | |
EXPENSES | | | | | | | Salaries & Benefits | | 2,056,584 | | | | 1,509,672 | | | | | Stock-Based Compensation | | 1,145,530 | | | | 719,796 | | | | | Operating & R&D Costs | | 493,410 | | | | 302,043 | | | | | Investor & Public Relations | | 633,035 | | | | 554,990 | | | | | Legal & Professional Services Fees | | 564,854 | | | | 563,300 | | | | | Office Expense | | 466,657 | | | | 324,920 | | | | | Depreciation & Amortization | | 192,374 | | | | 196,943 | | | | | Other Operating Expenses | | 134,827 | | | | 95,989 | | | | |
Total Expenses | |
5,687,271 | | | |
4,267,654 | | | | |
OPERATING INCOME (LOSS) | |
(5,568,804 |
) | | |
(3,898,977 |
) | | | | | | | | | |
OTHER INCOME (EXPENSE) | | | | | | | Interest Income | | 35,178 | | | | 40,107 | | | | | State Incentives | | - | | | | 154,568 | | | | | Change in fair value of derivative liabilities | | - | | | | (186,908 | ) | | | | Exchange Rate Gain (Loss) | | 162 | | | | - | | | | | Interest Expense | | (3,966 | ) | | | (161,852 | ) | | | | Loss on Disposal of Assets | | (36,733 | ) | | | (13,161 | ) | | | | Debt Discount Amortization | | - | | | | (358,280 | ) | | | |
Total Other Income (Loss) | |
(5,359 |
) | | |
(525,526 |
) | | | | | | | | | | | | | | | | |
LOSS BEFORE PROVISION FOR INCOME TAXES | |
(5,574,163 |
) | | |
(4,424,503 |
) | | | | | | | | | |
Provision for income Taxes | |
-
| | | |
-
| | | | | | | | | | |
Net Loss |
$ |
(5,574,163 |
) | |
$ |
(4,424,503 |
) | | | | | | | | | | Preferred Dividends | | (15,125 | ) | | | - | | | | | | | | | | |
Net Loss applicable to Common Stockholders |
$ |
(5,589,288 |
) | |
$ |
(4,424,503 |
) | | | | | | | | | |
Net Loss per Common Share - Basic and Diluted |
$ |
(0.81 |
) | |
$ |
(1.00 |
) | | | | |
Weighted Average Number of Shares
| | | | | |
Outstanding - Basic and Diluted | | 6,898,047 | | | | 4,403,479 | | | | | | | | | | |
|
