Hypha Labs (fka Digipath) Files Q1 2025 10-Q
Ticker: FUNI · Form: 10-Q · Filed: Feb 14, 2025 · CIK: 1502966
Sentiment: neutral
Topics: 10-Q, quarterly-report, company-name-change
TL;DR
Hypha Labs 10-Q filed. Q1 2025 results out.
AI Summary
Hypha Labs, Inc. filed its 10-Q for the period ending December 31, 2024. The company, formerly known as Digipath, Inc., is incorporated in Nevada and operates in the testing laboratories sector. The filing covers the first quarter of their 2025 fiscal year, which began on October 1, 2024.
Why It Matters
This filing provides investors with the latest financial performance and operational updates for Hypha Labs, Inc. as of the end of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new disclosures.
Key Players & Entities
- Hypha Labs, Inc. (company) — Filer of the 10-Q
- Digipath, Inc. (company) — Former name of Hypha Labs, Inc.
- 2024-12-31 (date) — End of the reporting period
- 2025-02-14 (date) — Filing date
- 2025 (date) — Fiscal year
- 2024 (date) — Fiscal year
FAQ
What is the fiscal year end for Hypha Labs, Inc.?
Hypha Labs, Inc.'s fiscal year ends on September 30.
When was the company formerly known as Digipath, Inc.?
The company was formerly known as Digipath, Inc. and changed its name on September 19, 2018.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending December 31, 2024, which is the first quarter of their 2025 fiscal year.
What is the business address of Hypha Labs, Inc.?
The business address is 5940 S. Rainbow Boulevard, Las Vegas, NV 89118.
What is the Standard Industrial Classification (SIC) code for Hypha Labs, Inc.?
The SIC code is 8734, which falls under SERVICES-TESTING LABORATORIES.
Filing Stats: 4,598 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2025-02-14 16:47:46
Filing Documents
- form10-q.htm (10-Q) — 903KB
- ex31-1.htm (EX-31.1) — 12KB
- ex32-1.htm (EX-32.1) — 5KB
- image_001.jpg (GRAPHIC) — 5KB
- 0001493152-25-006922.txt ( ) — 5860KB
- funi-20241231.xsd (EX-101.SCH) — 49KB
- funi-20241231_cal.xml (EX-101.CAL) — 64KB
- funi-20241231_def.xml (EX-101.DEF) — 202KB
- funi-20241231_lab.xml (EX-101.LAB) — 429KB
- funi-20241231_pre.xml (EX-101.PRE) — 348KB
- form10-q_htm.xml (XML) — 852KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 3 ITEM 1.
FINANCIAL STATEMENTS (Unaudited)
FINANCIAL STATEMENTS (Unaudited) 3 Consolidated Balance Sheets as of December 31, 2024 (Unaudited) and September 30, 2024 3 Consolidated Statements of Operations for the Three Months Ended December 31, 2024 and 2023 (Unaudited) 4 Consolidated Statements of Stockholders' Deficit for the Three Months Ended December 31, 2024 and 2023 (Unaudited) 5 Consolidated Statements of Cash Flows for the Three Months Ended December 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 21 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 24 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 25
- OTHER INFORMATION
PART II - OTHER INFORMATION 25 ITEM 1.
Legal Proceedings
Legal Proceedings 25 ITEM 1A.
RISK FACTORS
RISK FACTORS 25 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 25 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 25 ITEM 4. MINE SAFETY DISCLOSURES 25 ITEM 5. OTHER INFORMATION 25 ITEM 6. EXHIBITS 26
SIGNATURES
SIGNATURES 27 2 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS . HYPHA LABS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2024 September 30, 2024 (Unaudited) Assets Current assets: Cash $ 36,583 $ 91,166 Prepaids and other current assets 46,120 289,024 Deferred offering costs 95,000 30,000 Total current assets 177,703 410,190 Fixed assets, net 26,928 26,609 Right-of-use asset 54,012 57,006 Total non-current assets 80,940 83,615 Total Assets $ 258,643 $ 493,805 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable $ 143,897 $ 86,348 Accrued expenses 174,378 166,726 Accrued expenses – related parties 18,423 25,923 Accrued expenses 18,423 25,923 Current maturities of notes payable 20,000 - Current maturities of convertible notes payable, net of discounts 1,078,235 1,078,235 Lease liability – current 37,649 36,428 Total current liabilities 1,472,582 1,393,660 Non-current liabilities: Lease liability - long term 16,939 26,838 Total non-current liabilities 16,939 26,838 Total Liabilities 1,489,521 1,420,498 Series B convertible preferred stock, $ 0.001 par value, 1,500,000 shares authorized; 333,600 shares issued and outstanding as of December 31, 2024 and September 30, 2024 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 December 31, 2024 and September 30, 2024 1,048 1,048 Series C preferred stock, $ 0.001 par value, 1,000 shares authorized; 1,000 shares and 0 shares issued and outstanding as of December 31, 2024 and September 30, 2024, respectively 1 - Preferred stock, value 1 - Common stock, $ 0.001 par value, 250,000,000 shares authorized; 126,546,825 shares and 123,046,825 shares issued and outstanding at December 31, 2024 and September