Company: AIBT
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001096906-25-000861
Chunk: 23

Company: AIBOTICS, INC.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 23
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 ended March 31, 2025 compared to the three months ended March 31, 2024 our general and administrative expense increased by $170,775, or 47%, from $360,872 to $531,647. The increase in general and administrative expenses was the result of increased legal & professional services of $13,371, increase in board compensation of $15,000, increase in product development expense of $119,967, increase in other business expenses of $4,333, increase in advertising & marketing of $7,081, and increase in consulting fees of $18,125. 

Other Expense

Other expense for the three months ended March 31, 2025 and 2024 was composed of interest expense.

For the three months ended March 31, 2025 compared to the three months ended March 31, 2024 our interest expense decreased by $3,137, or 5%, from $65,070 to $61,933. The decrease primarily resulted from no interest expense related to debt discount amortization from the Company’s convertible notes during the period ended March 31, 2025 as compared to approximately $9,000 in debt amortization costs recognized in the corresponding period ended March 31, 2024 partially offset by full three month period interest expense recognized for Note payable - related party during the period ended March 31, 2025.  

Net Loss

For the three months ended March 31, 2025 and 2024 we had a net loss of $591,397 and $425,942, respectively.

Liquidity and Capital Resources

Liquidity is the ability of an enterprise to generate adequate amounts of cash to meet its needs for cash requirements. As of March 31, 2025, we had $156,737 in cash and cash equivalents compared to $185,097 at December 31, 2024, a decrease of $28,360 resulting 

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primarily from cash used in our operations. As of March 31, 2025, we had undiscounted obligations in the amount of approximately $1.1 million relating to the payment of indebtedness due within one year.

As of March 31, 2025, we had a working capital deficiency of $4,944,635 down from a working capital deficiency of $4,666,666 as of December 31, 2024. At March 31, 2025 our current assets were $156,737