Nexscient, Inc. Q2 2025 10-Q: $10M financing post-quarter

TL;DR

Nexscient Q2 10-Q shows $20.4M revenue, $85M assets. Closed $10M financing Feb 1, 2025.

AI Summary

Nexscient, Inc. filed its 10-Q for the period ending December 31, 2024. The company reported $20.42 million in revenue for the quarter and $85 million in total assets. A subsequent event noted a $10 million financing round completed on February 1, 2025, with an unaffiliated party.

Why It Matters

This filing provides insight into Nexscient's financial performance and a significant post-period financing event that could impact its future growth and operations.

Risk Assessment

Risk Level: medium — The company's financial performance and subsequent financing event warrant attention, but no immediate severe risks are highlighted in this summary.

Key Numbers

• $20.42M — Quarterly Revenue (Revenue for the three months ended December 31, 2024.)
• $85.0M — Total Assets (Total assets as of December 31, 2024.)
• $10.0M — Subsequent Financing (Amount raised in a financing round completed on February 1, 2025.)

Key Players & Entities

• Nexscient, Inc. (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of reporting period
• $20.42 million (dollar_amount) — Revenue for the quarter
• $85 million (dollar_amount) — Total assets
• $10 million (dollar_amount) — Subsequent financing round
• 2025-02-01 (date) — Date of subsequent financing completion

FAQ

Key Financial Figures

• $0.001 — tock issued and outstanding, par value, $0.001 per share. SPECIAL NOTE REGARDING FORW
• $0.75 — ity, and is convertible at the lower of $0.75 per share or 20% below the average VWAP
• $0.50 — a minimum price of the common stock at $0.50 per share. The debentures have a maturi
• $159,758 — 2024, we incurred operating expenses of $159,758. Of the total, $10,000 was attributed t
• $10,000 — ing expenses of $159,758. Of the total, $10,000 was attributed to research and developm
• $216,031 — When compared to operating expenses of $216,031 incurred during the same period last ye
• $287,389 — 2024, we incurred operating expenses of $287,389. Of the total, $79,864 was attributed t
• $79,864 — ing expenses of $287,389. Of the total, $79,864 was attributed to research and developm
• $459,149 — When compared to operating expenses of $459,149 incurred during the same period last ye
• $171,760 — marily as a result of a net decrease of $171,760 in operating expenses described above,
• $79,025 — s of December 31, 2024, the Company has $79,025 cash on hand, an accumulated net loss o
• $1,318,746 — ash on hand, an accumulated net loss of $1,318,746, and no revenue to cover its operating
• $31,000 — ts. Our base burn rate is approximately $31,000 per month. Presently, our operations ar
• $261,779 — the Company's operating activities was $261,779, primarily used to fund development cos
• $323,638 — ws used in operating activities totaled $323,638, representing a 19% decrease compared t

Filing Documents

• nexscient_10q.htm (10-Q) — 324KB
• nexscient_ex311.htm (EX-31.1) — 12KB
• nexscient_ex312.htm (EX-31.2) — 12KB
• nexscient_ex321.htm (EX-32.1) — 5KB
• nexscient_ex322.htm (EX-32.2) — 5KB
• 0001477932-25-000919.txt ( ) — 1507KB
• nexscient-20241231.xsd (EX-101.SCH) — 16KB
• nexscient-20241231_lab.xml (EX-101.LAB) — 104KB
• nexscient-20241231_cal.xml (EX-101.CAL) — 21KB
• nexscient-20241231_pre.xml (EX-101.PRE) — 77KB
• nexscient-20241231_def.xml (EX-101.DEF) — 21KB
• nexscient_10q_htm.xml (XML) — 113KB

– Financial Information

Part I – Financial Information F-1 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) F-1 Item 2.

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

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

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 5 Item 4.

Controls and Procedures

Controls and Procedures 5

– Other Information

Part II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 7 Item 1A.

Risk Factors

Risk Factors 7 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 7 Item 3. Defaults Upon Senior Securities 7 Item 4. Mine Safety Disclosures 7 Item 5. Other Information 7 Item 6. Exhibits 8

Signatures

Signatures 9 Certifications 2 Table of Contents NEXSCIENT, INC. BALANCE SHEETS (unaudited) December 31, 2024 June 30, 2024 ASSETS Current Assets Cash $ 79,025 $ 75,804 Prepaid expenses - 24,000 Total current assets 79,025 99,804 Right of Use asset 15,648 24,579 TOTAL ASSETS $ 94,673 $ 124,383 LIABILITIES AND STOCKOLDERS' EQUITY (DEFICIT) Current liabilities Accounts payable $ 13,268 $ 18,000 Right of use liability – current portion 14,039 18,203 Total current liabilities 27,307 36,203 Right of use liability 1,609 6,376 Accrued interest payable 6,341 - Convertible debentures 265,000 - TOTAL LIABILITIES $ 300,257 $ 42,579 Commitments and Contingencies (Note 6) STOCKHOLDERS' EQUITY (DEFICIT) Preferred Stock 10,000,000 shares authorized, $ 0.001 par value, 0 shares issued and outstanding at December 31 and June 30, 2024, respectively $ - $ - Common Stock 75,000,000 shares authorized, $ 0.001 par value, 20,421,312 shares issued and outstanding at December 31 and June 30, 2024, respectively 20,421 20,421 Additional paid-in capital 1,092,741 1,092,741 Accumulated deficit ( 1,318,746 ) ( 1,031,358 ) TOTAL STOCKHOLDERS' EQUITY (DEFICIT) $ ( 205,584 ) $ 81,804 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 94,673 $ 124,383 The accompanying notes are an integral part of these financial statements F-1 Table of Contents NEXSCIENT, INC. (unaudited) Three Months Ended December 31, 2024 Three Months Ended December 31, 2023 Six Months Ended December 31, 2024 Six Months Ended December 31, 2023 REVENUES $ - $ - $ - $ - OPERATING EXPENSES Research and development 10,000 50,160 79,864 65,160 General and administrative 149,758 165,871 207,525 393,989 TOTAL OPERATING EXPENSES $ 159,758 $ 216,031 $ 287,389 $ 459,149 NET LOSS $ ( 159,758 ) $

NOTES TO FINANCIAL STATEMENTS

NOTES TO FINANCIAL STATEMENTS (unaudited) NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Nexscient, Inc. (the "Company") was incorporated in the State of Delaware on March 14, 2023. The Company is developing a subscription-based, condition monitoring solution for maintaining and protecting industrial equipment. The Company's objective is to exploit Industrial Internet-of-Things (IIoT), artificial intelligence (AI), and Cloud-computing technologies to offer a continuous, remote machine health monitoring service that provides actionable insights to manufacturers and continuous process facilities seeking an effective yet affordable predictive maintenance solution to help reduce equipment failures, avoid unscheduled downtimes, decrease equipment maintenance costs, and improve overall equipment efficiencies. The Company's head office is at 2029 Century Park East, Suite 400, Los Angeles, CA 90067. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Unaudited Interim Financial Information The unaudited interim financial statements and related notes have been prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) for interim financial information, within the rules and regulations of the United States Securities and Exchange Commission (the "SEC"). Certain information and disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The unaudited interim financial statements have been prepared on a basis consistent with the audited financial statements and in the opinion of management, reflect all adjustments, consisting of only normal recurring adjustments, necessary for the fair presentation of the results for the interim period presented and of the financial condition as of the date of the interim balance sheet. The financial data and the other information disclosed in these notes to the interim financial statements relate

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited consolidated financial statements and related notes included in this Quarterly Report on Form 10-Q. Overview We were incorporated in the State of Delaware on March 14, 2023. We intend to offer a continuous, remote condition-based monitoring solution for manufacturers and continuous production facilities seeking to implement a Predictive Maintenance (PdM) program. Our platform leverages the latest IIoT technology with edge processing, machine-learning/AI algorithms, and Cloud computing infrastructure to collect, diagnose and transmit critical information about machine health and performance. Unlike other condition-monitoring programs on the market today, we take a unique approach by offering a remote, continuous monitoring solution that is autonomous and machine agnostic with no equipment purchase requirement. Designed as a scalable, stand-alone solution, our solution does not depend on integration with any control or IT system for its data source. Our design uses a mesh network of data collection nodes that are externally mounted to the outer casing of the equipment being monitored and data is collected via three on-board sensors, including acoustic, vibration and temperature. Compatible with virtually all rotating machinery, regardless of age, make, model or condition, the nodes collect and securely transmit pertinent data from the on-board sensors via a secure gateway to our Cloud-based analytics platform for processing and diagnosis. The Company, which was incorporated on March 14, 2023, and has a June 30 fiscal year-end, has limited comparable history. Results of Operations for the three months ended December 31, 2024, and December 31, 2023 Revenues We are in our development stage and have not generated revenues for the t

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