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Mangoceuticals | 10-K: FY2024 Annual Report

SEC ·  Mar 20 21:30

Summary by Moomoo AI

Mangoceuticals reported FY2024 financial results with revenue declining 15.8% to $615,873, while net loss improved 5.5% to $8.7 million. The diluted loss per share showed significant improvement of 43.6% to $4.84. The company ended the year with a cash position of $58,653 as of December 31, 2024.The company executed several strategic initiatives throughout 2024-2025, including key marketing and distribution agreements with Marius Pharmaceuticals and ISFLST, Inc. Financial arrangements included a Securities Purchase Agreement with Platinum Point Capital and a $150,000 Promissory Note with Cohen Enterprises. A notable debt settlement of $516,250 with Barstool Sports was completed in January 2025.Management has implemented enhanced corporate governance measures, including a new Code of Business Conduct and Ethics and an Advisory Board Charter. However, the company faces ongoing challenges including working capital deficit and the need for additional financing. The competitive market environment and regulatory compliance requirements remain key risk factors affecting operations.
Mangoceuticals reported FY2024 financial results with revenue declining 15.8% to $615,873, while net loss improved 5.5% to $8.7 million. The diluted loss per share showed significant improvement of 43.6% to $4.84. The company ended the year with a cash position of $58,653 as of December 31, 2024.The company executed several strategic initiatives throughout 2024-2025, including key marketing and distribution agreements with Marius Pharmaceuticals and ISFLST, Inc. Financial arrangements included a Securities Purchase Agreement with Platinum Point Capital and a $150,000 Promissory Note with Cohen Enterprises. A notable debt settlement of $516,250 with Barstool Sports was completed in January 2025.Management has implemented enhanced corporate governance measures, including a new Code of Business Conduct and Ethics and an Advisory Board Charter. However, the company faces ongoing challenges including working capital deficit and the need for additional financing. The competitive market environment and regulatory compliance requirements remain key risk factors affecting operations.
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