Sunshine Biopharma Files Q3 2024 10-Q

TL;DR

**Sunshine Biopharma dropped its Q3 2024 10-Q. Check financials.**

AI Summary

Sunshine Biopharma Inc. filed its 10-Q for the period ending September 30, 2024. The company reported its financial results and provided updates on its business operations. Specific financial figures and operational details for the third quarter of 2024 are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Sunshine Biopharma, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a biopharmaceutical company, Sunshine Biopharma faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• Q3 2024 — Reporting Period (Financials and operations for the third quarter of 2024 are detailed.)
• 2024-09-30 — As of Date (Indicates the specific date for which financial position is reported.)
• 2024-11-05 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Sunshine Biopharma Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-05 (date) — Filing date

FAQ

Key Financial Figures

• $0 — he registrant's common stock, par value $0.001, issued and outstanding as of Novem
• $280 — Warrant. The public offering price was $280 per Common Unit and $278 per Pre-Funded
• $278 — ring price was $280 per Common Unit and $278 per Pre-Funded Unit. The Pre-Funded War
• $2.00 — nded Warrants have an exercise price of $2.00 per share. The Pre-Funded Warrants are
• $4,200 — cise price of each Series A Warrant was $4,200 per share of common stock or pursuant t
• $4,760 — cise price of each Series B Warrant was $4,760 per share of common stock. The Series B
• $2,440 — s common stock valued at $ 4,514,000 or $2,440 per share. Nora Pharma sells generic ph
• $250,000 — in the form of twenty (20) payments of $250,000 CAD for every $1,000,000 CAD increase i
• $1,000,000 — (20) payments of $250,000 CAD for every $1,000,000 CAD increase in gross sales (as defined
• $3,632,000 — with him. The total earn-out amount of $3,632,000 has been recorded as a salary payable.
• $0.10 — preference equal to the stated value of $0.10 per share, relative to the common stock
• $4,440 — se price of the Tradeable Warrants from $4,440 to $220. The Company entered into the a
• $220 — f the Tradeable Warrants from $4,440 to $220. The Company entered into the amendment
• $4,438 — ogether at a combined offering price of $4,438. The Pre-Funded Warrants were immediate
• $2 — ly exercisable, at an exercise price of $2.00, and could be exercised at any time

Filing Documents

• sunshine_i10q-093024.htm (10-Q) — 717KB
• sunshine_ex3101.htm (EX-31.1) — 13KB
• sunshine_ex3102.htm (EX-31.2) — 13KB
• sunshine_ex3201.htm (EX-32.1) — 6KB
• image_001.jpg (GRAPHIC) — 6KB
• 0001683168-24-007622.txt ( ) — 3923KB
• sbfm-20240930.xsd (EX-101.SCH) — 31KB
• sbfm-20240930_cal.xml (EX-101.CAL) — 45KB
• sbfm-20240930_def.xml (EX-101.DEF) — 155KB
• sbfm-20240930_lab.xml (EX-101.LAB) — 284KB
• sbfm-20240930_pre.xml (EX-101.PRE) — 245KB
• sunshine_i10q-093024_htm.xml (XML) — 401KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Consolidated Statements of Operations for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 4 Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 5 Consolidated Statement of Shareholders' Equity for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 6 Notes to Unaudited Consolidated Financial Statements 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 16 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 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

FINANCIAL

PART I. FINANCIAL INFORMATION

FINANCIAL

ITEM 1. FINANCIAL Sunshine Biopharma Inc. Consolidated Balance Sheets September 30, December 31, 2024 2023 (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 12,206,655 $ 16,292,347 Accounts receivable 3,218,682 2,552,362 Inventory 9,820,730 5,734,755 Prepaid expenses 735,796 310,591 Total Current Assets 25,981,863 24,890,055 Long-Term Assets: Property & equipment 590,801 365,868 Intangible assets 2,942,684 1,444,259 Right-of-use-asset 541,468 646,779 Total Long-Term Assets 4,074,953 2,456,906 TOTAL ASSETS $ 30,056,816 $ 27,346,961 LIABILITIES Current Liabilities: Accounts payable & accrued expenses $ 4,157,253 $ 2,585,466 Earnout payable – 2,547,831 Income tax payable 254,971 299,869 Current portion - right-of-use-liability 116,253 118,670 Total Current Liabilities 4,528,477 5,551,836 Long-Term Liabilities: Deferred tax liability 48,729 48,729 Right-of-use-liability 440,298 539,035 Total Long-Term Liabilities 489,027 587,764 TOTAL LIABILITIES 5,017,504 6,139,600 SHAREHOLDERS' EQUITY Preferred Stock, Series B $ 0.10 par value per share; 1,000,000 shares authorized; 130,000 and 10,000 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 13,000 1,000 Common Stock, $ 0.001 par value per share; 3,000,000,000 shares authorized; 1,999,660 and 14,012 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 2,000 14 Capital paid in excess of par value 91,737,284 84,415,900 Accumulated comprehensive income 168,590 696,105 Accumulated (Deficit) ( 66,881,562 ) ( 63,905,658 ) TOTAL SHAREHOLDERS' EQUITY 25,039,312 21,207,361 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 30,056,816 $ 27,346,961 See Accompanying Notes To These Financial Statements 3 Sunshine Biopharma Inc. Consolidated Statements of Operations and Comprehensive Loss (Unaudited) 3 Months

View Full Filing

View this 10-Q filing on SEC EDGAR