Company: SCTH
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001017386-25-000115
Chunk: 27

Company: Securetech Innovations, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 27
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 for the same period of 2024, representing a decrease of ($14,235), or a (100.0%) decrease compared to the previous fiscal period. All sales were attributable to Top Kontrol. 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 six months ended June 30, 2025, was $-0-, compared to $3,421 for the same period of 2024. As a percentage of overall sales, the cost of goods sold was 24.0% during the six months ended June 30, 2024.

Gross Profit

Our gross profit for the six months ended June 30, 2025, was $-0-, compared to $10,814 for the same period in 2024. Our gross profit margin was 76.0% during the six months ended June 30, 2024.

Operating Expenses

Six Months Ended June 30,

2025

2024

Operating expenses:

General and administrative
$
177,793
$
184,226

Research and development
 
2,146
 
-

Operating expenses
$
179,939
$
184,226

Our operating expenses for the fiscal period consisted of two components: general and administrative expenses and research and development expenses. Total operating expenses were $179,939 during the six months ended June 30, 2025, compared to $184,226 for the same period of 2024, representing a decrease in operating expenses of ($4,287), or (2.3%), from the six months ended June 30, 2024.

Loss From Operations

As a result of the foregoing, our loss from operations was ($179,939) during the six months ended June 30, 2025, compared with ($173,412) for the same period of 2024. This $6,527, or 3.8%, increase in our loss from operations was primarily attributable to a lack of any sales efforts and related expenses during the fiscal period ended June 30, 2025.

Other Income (Expense)

Our other income (expense) is comprised of