Company: HYEX
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001096906-25-000753
Chunk: 11

Company: HEALTHY EXTRACTS INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 7
Chunk 11
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2025, general and administrative expenses consisted mainly of advertising of $222,827, consulting fees of $105,500, stock-based compensation $48,991, salaries and wages of $48,535 and accounting and legal fees of $36,650. For the three months ended March 31, 2024, general and administrative expenses consisted advertising fees of $127,849, consulting fees of $105,000, accounting and legal fees of $73,631, stock-based compensation of $58,314, and salaries and wages of $44,123. For the three months ended March 31, 2025, the increase was due in part to an increase to our advertising fees which increased our revenue.

Other Income (Expense)

Other income (expense) was $(290,011) for the three months ended March 31, 2025, compared to $(799,185) for the three months ended March 31, 2024, a decrease of $509,174, or 64%. In the three months ended March 31, 2025, other income (expense) consisted of interest expense, net of interest income of ($34,558) and change in fair value on derivative of $(255,454). In the three months ended March 31, 2024, other income (expense) consisted of interest expense, net of interest income of ($42,557) and change in fair value on derivative of $(756,628). Change in fair value of derivative was related to the conversion of convertible debts into shares of common stock.

Net Income (Loss)

Net income (loss) was $(398,860), or $(0.13) per share, for the three months ended March 31, 2025, compared to $(861,259), or $(0.30) per share, for the three months ended March 31, 2024.

Our net income (loss) varies from period to period primarily because of the change in fair value on derivative and our increase in general and administrative expenses.

29

Liquidity and Capital Resources

Introduction

During the three months ended March 31, 2025, we had positive operating cash flows. Our cash on hand as of March 31, 2025 was $118,798. We also had positive net cash from operations for the year ended December 31, 2024, but we still have both short- and medium-term cash needs. We anticipate that these needs will be satisfied through increased revenues and the