Company: SINT
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021930
Chunk: 30

Company: Sintx Technologies, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 30
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. This decision was part
of an ongoing strategic review of our operations aimed at improving operational efficiency and reducing costs.

On
August 12, 2024, the board of directors approved a plan to cease efforts to make the armor plant operational. This decision was made
to streamline operations and focus on core business areas that align with our long-term strategic goals. The armor plant
had not been fully operational since the acquisition of the armor equipment in July 2021 and had been completely shut down since October
2023 due to the malfunctioning of the sintering furnace. In connection with this decision, we incurred an impairment charge
of approximately $4.6 million during the year ended December 31, 2024. This charge primarily relates to the write-down of certain long-lived
assets associated with the armor plant to their estimated fair value.

As
discussed in Note 2 to the condensed consolidated financial statements, on February 19, 2025, we entered into an Entity Acquisition
Agreement (the “Agreement”) with Tethon Corporation (“Tethon”), pursuant to which the Company sold to Tethon
all of the issued and outstanding shares of TA&T in exchange for the assumption by Tethon of the outstanding liabilities of TA&T.

As
discussed in Note 1 to the condensed consolidated financial statements, in October 2025, we received FDA 510(k) clearance for
a new foot and ankle osteotomy wedge system, enabling SINTX’s commercial entry into reconstructive foot and ankle surgery in the
United States. Revenue is expected to begin during the first half of 2026.

As
discussed in Note 14 to the condensed consolidated financial statements, in October 2025, we entered into the 2025 ATM Agreement
to sell shares of its common stock from time to time, through an “at the market offering” program, having an aggregate offering
price of $6,413,876 was filed with the SEC.

As
discussed in Note 12 to the condensed consolidated financial statements, in October 2025, we entered into a sublease agreement
to lease the SINTX armor facility, that is expected to save the Company approximately $950,000 over the sublease term.

We believe that based on our existing capital resources and funds generated by our operations, there is no significant
uncertainty of the Company’s ability to continue as a going concern through at least November 12, 2026.

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