Company: SINT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010496
Chunk: 3

Company: Sintx Technologies, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 3
---
 conduct research and development
and regulatory clearance and approval activities necessary to bring our products to market, and to establish effective marketing and sales
capabilities. Our existing capital resources are not sufficient to enable us to fund the completion of the development and commercialization
of all our product candidates.

To date, the Company’s operations have been
principally financed from proceeds from the issuance of preferred and common stock and, to a lesser extent, cash generated from product
sales. It is anticipated that the Company will continue to generate operating losses and use cash in operations. The Company’s continuation
as a going concern is dependent upon its ability to increase sales, decrease expenses and raise additional funding. Whether and when the
Company can attain profitability and positive cash flows from operations or obtain additional financing is uncertain.

    8

On February 25, 2021, the Company entered into an
Equity Distribution Agreement ( the “ATM Agreement”) with Maxim Group LLC (the “Agent”) as sales agent, as amended
on January 10, 2023 and October 12, 2023,pursuant to which the Company, could offer and sell shares of the Company’s common stock,
par value $0.01 per share (the “Shares”), initially up to an aggregate offering price of $15,000,000, from time to time in
an at-the-market public offering. On March 22, 2024, the Company suspended sales under the ATM Agreement and terminated the continuous
offering. On July 11, 2024, the Company filed a Prospectus Supplement with the SEC adjusting the amount available for sale under the ATM
Agreement to $3.1 million and shortly thereafter begin offering and selling Shares under the ATM Agreement to the public. During the year
ended December 31, 2024, 602,357 Shares were sold under the ATM Agreement for gross proceeds of approximately $3.7 million. Because the
Company is subject to General Instruction I.B.6 of Form S-3, it is restricted from selling securities in a public primary offering with
a value exceeding one-third of its public float (the market value of our common stock held by our non-affiliates) in any 12-month period
so long as its public float remains below $75.0 million. As of December 31, 2024, there was no capacity to offer and sell Shares under
the ATM Agreement.

On February 2, 2024, the Company closed a public