Company: AGTX
Filing Date: 2025-07-16
Form Type: 10-K
Source: 0001477932-25-005077
Chunk: 168

Company: Agentix Corp.
Filing Date: 2025-07-16
Form: 10-K
Item: Item 2
Chunk 168
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2024, interest expense, net was $42,669 and $21,034, respectively. The net increase in interest expense related to our increase in loan activity during the year ended March 31, 2025 as compared to our year ended March 31, 2024.

For the year ended March 31, 2025 and 2024, we received R&D credits totaling $0 and $198,371 related to our R&D efforts that occurred at our Agentix Australia Pty Ltd entity. We did not receive any R&D credits for the comparable period ended March 31, 2025.

For the year ended March 31, 2025, cash used from our operating activities was $125,078 of cash as compared to a use of cash of $110,429 during the year ended March 31, 2024.

For the year ended March 31, 2025, cash from financing was $100,00 versus $93,000 for our year ended March 31, 2024. Cash from financings during the year ended March 31, 2025 consisted of $100,000 from loan proceeds received. Cash from financings during the year ended March 31, 2024 consisted of $163,000 from loan proceeds received offset by our payment of $70,000 on our loans.

We did not incur or obtain cash from investing activities during our year ended March 31, 2025 and 2024, respectively.

Liquidity and Capital Resources

Our consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in our consolidated financial statements for the year ended March 31, 2025, we had an accumulated deficit, we did not incur any revenue and we had a net loss along with negative cash generated from our operations. In addition, we owe our vendors and related parties $3,204,523 as of March 31, 2025. Although, on January 15, 2023 and June 15, 2023, we entered into two separate Mezzanine Secured Note (“Notes”) in the principal amount up to $200,000 and $500,000, respectively, with Gray’s Peak Private Credit LLC (see Note 3 to the consolidated financial statements), the debt maturity of these Notes is short term. These factors raise substantial doubt about our ability to continue as