Accustem Sciences Files 10-Q for Q1 2024

TL;DR

Accustem Sciences filed its Q1 2024 10-Q. Financials and operations update.

AI Summary

Accustem Sciences Inc. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as AccuStem Sciences Ltd, is incorporated in Delaware and operates in the Pharmaceutical Preparations sector. Its business and mailing address is located at 5 Penn Plaza, New York, NY.

Why It Matters

This filing provides a quarterly update on Accustem Sciences' financial performance and operational status, crucial for investors and stakeholders to assess the company's trajectory.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant new information presented in the provided snippet.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Quarterly filing covers this period.)
• 2024-05-20 — Filing Date (Date the 10-Q was officially submitted.)

Key Players & Entities

• Accustem Sciences Inc. (company) — Filer
• AccuStem Sciences Ltd (company) — Former company name
• 5 Penn Plaza, 19th Floor, #1954, New York, NY 10001 (location) — Business and mailing address
• 2834 (industry_code) — Standard Industrial Classification (Pharmaceutical Preparations)

FAQ

Key Financial Figures

• $0.001 — were 11,346,535 shares of Common Stock, $0.001 par value outstanding. Table of Conte
• $1.0675 — m EUROS to USD using exchange rate of 1:$1.0675 ) 50,000 ($ 53,375 ) within 30 days

Filing Documents

• form10-q.htm (10-Q) — 555KB
• ex31-1.htm (EX-31.1) — 15KB
• ex31-2.htm (EX-31.2) — 15KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-020584.txt ( ) — 3295KB
• acut-20240331.xsd (EX-101.SCH) — 22KB
• acut-20240331_cal.xml (EX-101.CAL) — 30KB
• acut-20240331_def.xml (EX-101.DEF) — 92KB
• acut-20240331_lab.xml (EX-101.LAB) — 221KB
• acut-20240331_pre.xml (EX-101.PRE) — 170KB
• form10-q_htm.xml (XML) — 475KB

- FINANCIAL INFORMATION

PART I- FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of March 31, 2023 (Unaudited) and December 31, 2022 2 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2023 and 2022 3 Unaudited Condensed Statements of Changes in Stockholder's Deficit for the Three Months Ended March 31, 2023 and 2022 4 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2023 and 2022 5 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 18 Item 4.

Controls and Procedures

Controls and Procedures 18

- OTHER INFORMATION

PART II - OTHER INFORMATION 20 Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A.

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 20

SIGNATURES

SIGNATURES 21 i PART I - FINANCIAL INFORMATION Item 1. Financial Statements The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information which are the accounting principles that are generally accepted in the United States of America and in accordance with the instructions for Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the condensed consolidated financial statements contain all material adjustments, consisting only of normal recurring adjustments necessary to present fairly the financial condition, results of operations and cash flows of the Company for the interim periods presented. The results for the period ended March 31, 2024 are not necessarily indicative of the results of operations for the full year. These financial audited consolidated financial statements for the fiscal years December 31, 2023 and 2022 included in our annual report on Form 10-K filed with the US. Securities and Exchange Commission (the "SEC") on March 22, 2024. 1 ACCUSTEM SCIENCES INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current Assets Cash $ 9,373 $ 21,481 Prepaid expenses 38,428 108,368 Total Current Assets 47,801 129,849 Equipment, net 3,140 4,048 TOTAL ASSETS $ 50,941 $ 133,897 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 649,480 $ 578,378 Related party payable 1,801,908 1,454,986 Accrued expenses 219,567 156,434 Note Payable - 55,679 Total Current Liabilities 2,670,955 2,245,477 TOTAL LIABILITIES 2,670,955 2,245

View Full Filing

View this 10-Q filing on SEC EDGAR