Company: AIBT
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001096906-25-000487
Chunk: 11

Company: AIBOTICS, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 7
Chunk 11
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ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

The following discussion of our financial condition and results of operations should be read in conjunction with the audited financial statements and the notes to those statements included elsewhere in this report. This discussion contains forward-looking statements that involve risks and uncertainties. You should specifically consider the various risk factors identified in this report that could cause actual results to differ materially from those anticipated in these forward-looking statements.

Results of Operations and Financial Condition for the Year Ended December 31, 2024 as Compared to the Year Ended December 31, 2023

Sales and Cost of Sales

We did not have any revenue or cost of revenue from operations for the years ended December 31, 2024 and 2023.

Expenses from Operations

Expenses from operations for the years ended December 31, 2024 and 2023, consisted solely of general and administrative expenses. General and administrative expenses consisted primarily of consulting fees, board compensation, and legal and professional services. For the year ended December 31, 2024 compared to the year ended December 31, 2023 our general and administrative expense increased by $1,018,093 or 165%, from $616,724 to $1,634,817. The increase in general and administrative expenses was the result of increased amortization expenses of $607,664, increase in board compensation of $101,250, increase in product development expense of $178,665 and increase in consulting fees of $47,000. 

Other Expense

Other expense for the years ended December 31, 2024 and 2023 was composed of interest expense..

For the year ended December 31, 2024 compared to the year ended December 31, 2023 our interest expense decreased $351,165, or 62%, from $564,623 to $213,458. The decrease primarily resulted from $500,000 less in debt discount amortization from the Company’s convertible notes partially offset by $232,000 of additional interest expense accrued during the third quarter of 2024 due to the default interest on the Company’s convertible note payables in default.

Net Loss

For the years ended December 31, 2024 and 2023 we had a net loss of $1,848,275 and $1,181,347, respectively.

Liquidity and Capital Resources

Liquidity is the ability of an enterprise to generate adequate amounts of cash