Company: SCTH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001017386-25-000073
Chunk: 17

Company: Securetech Innovations, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 17
---
 and 2024

The following table sets forth the results of our operations for the three months ended March 31, 2025 and 2024.

Three months ended March 31,

2025

2024

Sales
$
-
$
12,885

Cost of goods sold
 
-
 
(3,080)

Gross profit
 
-
 
9,805

Operating expenses
 
(90,935)
 
(90,496)

Loss from operations
 
(90,935)
 
(80,691)

Other income (expense)
 
(3,430)
 
(790)

Net loss
$
(94,365)
$
(81,481)

Sales

Sales for the three months ended March 31, 2025, totaled $-0-, compared to $12,885 for the same period in 2024. The decline in sales was due to Management's efforts to secure new financing sources and redirect the company’s overall strategic focus. All sales during the 2024 period were generated by the Top Kontrol product line.

Cost of Goods Sold

Our cost of goods sold consists primarily of purchasing components and circuitry from various vendors and then utilizing third-party contract manufacturing facilities to produce our products, with final assembly conducted at our Minnesota headquarters. Cost of goods sold for the three months ended March 31, 2025, was $-0-, compared to $3,080 for the same period of 2024. As a percentage of overall sales, the cost of goods sold was 23.9% during the three months ended March 23, 2024.

Gross Profit

Gross profit for the three months ended March 31, 2025, was $-0-, compared to $9,805 for the same period of 2024. Our gross profit margin was 76.1% during the three months ended March 31, 2024.

Operating Expenses

Three Months Ended March 31,

2025

2024

Operating expenses:

General and administrative
$
90,935
$
90,496

Operating expenses
$
90,935
$
90,496

Our operating expenses for the fiscal period consisted solely of general and administrative expenses. Total operating expenses were $90,935 during the three months ended March 31, 2025, compared to $90,496 for the same period of 2024, representing an increase in operating expenses of $439, or 0.5%, from the three months ended March 31