Sigma Labs Reports Second Quarter 2019 Financial Results

Condensed Statements of Operations
(Unaudited)

  Three Months Ended
June 3 0,
   Six Months Ended
June 30,
 
  2019     2018     2019     2018  
            
REVENUES$33,582  $98,663  $98,032  $202,078 
                
COST OF REVENUE 60,625   68,568   157,180   142,363 
                
GROSS PROFIT   (27,043 )     30,095       (59,148 )     59,715  
                
OPERATING EXPENSES:               
Salaries & Benefits   581,356       426,049       1,093,916       824,706  
Stock-Based Compensation   220,360       423,067       474,566       584,589  
Operating R&D Costs   118,845       95,045       264,117       217,022  
Investor & Public Relations   157,318       103,197       315,107       283,596  
Legal & Professional Service Fees   218,919       177,929       403,489       316,352  
Office Expenses   184,068       110,936       350,178       206,042  
Depreciation & Amortization   49,203       48,253       97,586       95,574  
Other Operating Expenses   38,994       38,035       77,203       71,760  
Total Operating Expenses   1,569,064       1,422,511       3,076,162       2,599,641  
                               
LOSS FROM OPERATIONS   (1,596,107 )     (1,392,416 )     (3,135,310 )     (2,539,926 )
                               
OTHER INCOME (EXPENSE)                              
Interest Income   7,016       3,719       12,798       17,086  
State Incentives   -       -       51,877       -  
Exchange Rate Gain (Loss)   (2,264 )     1,304       (2,710 )     1,304  
Interest Expense   (2,136 )     (1,411 )     (4,258 )     (1,411 )
Loss on Disposal of Assets   -       -       -       (36,733 )
Total Other Income (Expense)   2,616       3,612       57,707       (19,754 )
                               
LOSS BEFORE PROVISION FOR INCOME TAXES   (1,593,491 )     (1,388,804 )     (3,077,603 )     (2,559,680 )
                               
Provision for income Taxes   -       -       -       -  
                               
Net Loss $ (1,593,491 )   $ (1,388,804 )   $ (3,077,603 )   $ (2,559,680 )
                               
                               
Net Loss per Common Share – Basic and Diluted $ (0.15 )   $ (0.25 )   $ (0.31 )   $ (0.48 )
                               
Weighted Average Number of Shares Outstanding – Basic and Diluted   10,777,590       5,572,015       10,063,806       5,286,362  
                               

Sigma Labs, Inc.

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