Hypha Labs, Inc. Files 10-Q for Q2 2024
Ticker: FUNI · Form: 10-Q · Filed: May 20, 2024 · CIK: 1502966
Sentiment: neutral
Topics: 10-Q, quarterly-report, company-filing
TL;DR
Hypha Labs (formerly Digipath) filed its Q2 2024 10-Q. Check financials.
AI Summary
Hypha Labs, Inc. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as Digipath, Inc., is incorporated in Nevada and operates in the testing laboratories sector. Its business address is located at 5940 S. Rainbow Boulevard, Las Vegas, NV 89118.
Why It Matters
This filing provides a quarterly update on Hypha Labs, Inc.'s financial performance and operational status, which is crucial for investors and stakeholders to assess the company's trajectory.
Risk Assessment
Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial reporting and market performance.
Key Numbers
- 2024-03-31 — Period End Date (The end of the reporting quarter for the 10-Q filing.)
- 2024-05-20 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Hypha Labs, Inc. (company) — Filer of the 10-Q
- Digipath, Inc. (company) — Former company name
- 20240331 (date) — End of reporting period
- 20240520 (date) — Filing date
- 5940 S. RAINBOW BOULEVARD (address) — Business and mailing address
- LAS VEGAS (location) — City of business address
- NV (location) — State of incorporation and business address
- 89118 (zip_code) — Zip code of business address
- 8734 (industry_code) — Standard Industrial Classification for Testing Laboratories
FAQ
What is the primary business of Hypha Labs, Inc.?
Hypha Labs, Inc. operates in the SERVICES-TESTING LABORATORIES sector, with SIC code 8734.
When is Hypha Labs, Inc.'s fiscal year end?
Hypha Labs, Inc.'s fiscal year ends on September 30th (0930).
What was the previous name of Hypha Labs, Inc.?
Hypha Labs, Inc. was formerly known as Digipath, Inc. and DigiPath, Inc.
What is the business address of Hypha Labs, Inc.?
The business address is 5940 S. Rainbow Boulevard, Las Vegas, NV 89118.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending March 31, 2024.
Filing Stats: 4,645 words · 19 min read · ~15 pages · Grade level 14.8 · Accepted 2024-05-20 16:30:54
Filing Documents
- form10-q.htm (10-Q) — 1108KB
- ex3-9.htm (EX-3.9) — 3KB
- ex31-1.htm (EX-31.1) — 19KB
- ex32-1.htm (EX-32.1) — 8KB
- ex3-9_001.jpg (GRAPHIC) — 214KB
- ex3-9_002.jpg (GRAPHIC) — 279KB
- ex3-9_003.jpg (GRAPHIC) — 393KB
- ex3-9_004.jpg (GRAPHIC) — 294KB
- form10-q_001.jpg (GRAPHIC) — 14KB
- 0001493152-24-020708.txt ( ) — 7934KB
- digp-20240331.xsd (EX-101.SCH) — 49KB
- digp-20240331_cal.xml (EX-101.CAL) — 71KB
- digp-20240331_def.xml (EX-101.DEF) — 202KB
- digp-20240331_lab.xml (EX-101.LAB) — 407KB
- digp-20240331_pre.xml (EX-101.PRE) — 321KB
- form10-q_htm.xml (XML) — 1006KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 3 ITEM 1.
FINANCIAL STATEMENTS (Unaudited)
FINANCIAL STATEMENTS (Unaudited) 3 Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and September 30, 2023 3 Consolidated Statements of Operations for the Three and Six Months Ended March 31, 2024 and 2023 (Unaudited) 4 Consolidated 5 Consolidated Statements of Cash Flows for the Six Months Ended March 31, 2024 and 2023 (Unaudited) 6 Notes to the Consolidated Financial Statements (Unaudited) 7 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 19 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 22 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 22
- OTHER INFORMATION
PART II - OTHER INFORMATION 23 ITEM 1.
Legal Proceedings
Legal Proceedings 23 ITEM 1A.
RISK FACTORS
RISK FACTORS 23 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 23 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 23 ITEM 4. MINE SAFETY DISCLOSURES 23 ITEM 5. OTHER INFORMATION 23 ITEM 6. EXHIBITS 23
SIGNATURES
SIGNATURES 25 2 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS . HYPHA LABS, INC. (FORMERLY DIGIPATH, INC.) AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS March 31, 2024 September 30, 2023 (Unaudited) Assets Current assets: Cash $ 1,063,401 $ 271,006 Note receivable, net of allowance of $ 625,000 - - Other current assets 321,943 8,570 Assets held for sale - current - 486,222 Total current assets 1,385,344 765,798 Assets held for sale – long term - 643,666 Total non-current assets - 643,666 Total Assets $ 1,385,344 $ 1,409,464 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable $ 102,140 $ 122,094 Accrued expenses 323,030 328,491 Accrued expenses – related party 20,000 12,390 Current maturities of notes payable - 565,000 Current maturities of convertible notes payable, net of discounts 1,078,235 1,385,932 Current maturities of convertible notes payable related parties, net of discounts - 339,252 Liabilities held for sale - current - 368,655 Total current liabilities 1,523,405 3,121,814 Non-current liabilities: Liabilities held for sale – long term - 159,156 Total non-current liabilities - 159,156 Total Liabilities 1,523,405 3,280,970 Series B convertible preferred stock, $ 0.001 par value, 1,500,000 shares authorized; 333,600 shares issued and outstanding as of March 31, 2024 and September 30, 2023 333,600 333,600 Commitments and contingencies - - Stockholders' Deficit: Series A convertible preferred stock, $ 0.001 par value, 6,000,000 shares authorized; 1,047,942 shares issued and outstanding as of March 31, 2024 and September 30, 2023 1,048 1,048 Series C convertible preferred stock, $ 0.001 par value, 1,000 shares authorized; 0 shares issued and outstanding as of March 31, 2024 and September 30, 2023, respectively - - Preferred stock, value - - Common stock, $ 0.001 par value, 250,000,000 shares authorize