Sigma Labs Reports Second Quarter 2018 Financial Results

Condensed Statements of Operations
(Unaudited)

      
  Three Months Ended
June 30,
   Six Months Ended
June 30,
 
  2018     2017     2018     2017  
            
REVENUES$98,663  $290,553  $202,078  $405,076 
                
COST OF REVENUE 68,568   111,412   142,363   185,946 
                
GROSS PROFIT   30,095       179,141       59,715       219,130  
                
OPERATING EXPENSES:               
Salaries & Benefits 426,049   346,994   824,706   785,204 
Stock-Based Compensation 423,067   166,773   584,589   306,405 
Operating R&D Costs 95,045   131,908   217,022   186,413 
Investor & Public Relations 103,197   131,780   283,596   243,913 
Legal & Professional Service Fees 177,929   189,856   316,352   289,494 
Office Expenses 110,936   64,739   206,042   148,944 
Depreciation & Amortization   48,253       45,503       95,574       91,651  
Other Operating Expenses   38,035       30,681       71,760       62,692  
Total Operating Expenses   1,422,511       1,108,234       2,599,641       2,114,717  
                               
LOSS FROM OPERATIONS   (1,392,416 )     (929,093 )     (2,539,926 )     (1,895,587 )
                               
OTHER INCOME (EXPENSE)                              
Interest Income   3,719       12,598       17,086       12,941  
State Incentives   -       -       -       152,068  
Change in fair value of derivative liabilities   -       -       -       93,206  
Exchange Rate Gain   1,304       -       1,304       -  
Interest Expense   (1,411 )     (49,862 )     (1,411 )     (99,178 )
Debt discount amortization   -       (22,382 )     (36,733 )     (22,382 )
Loss on Disposal of Assets   -       -               (56,441 )
Total Other Income (Expense)   3,612       (59,646 )     (19,754 )     80,214  
                               
LOSS BEFORE PROVISION FOR INCOME TAXES   (1,388,804 )     (988,741 )     (2,559,680 )     (1,815,373 )
                               
Provision for income Taxes   -       -       -       -  
                               
Net Loss $ (1,388,804 )   $ (988,741 )   $ (2,559,680 )   $ (1,815,373 )
                               
                               
Net Loss per Common Share – Basic and Diluted $ (0.25 )   $ (0.22 )   $ (0.48 )   $ (0.43 )
                               
Weighted Average Number of Shares Outstanding – Basic and Diluted   5,572,015       4,570,199       5,286,362       4,207,116  
                               

Sigma Labs, Inc.

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