Company: AGTX
Filing Date: 2025-02-18
Form Type: 10-Q
Source: 0001477932-25-001090
Chunk: 16

Company: Agentix Corp.
Filing Date: 2025-02-18
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 consulting fees.

 5Table of Contents

For the nine months ended December 31, 2024, we incurred total research and development expenses of $90,638 as compared to $129,244 for the nine months ended December 31, 2023, a decrease of $38,606. The decrease was primarily due to a $210,550 charge that was originally billed in March 2023 but subsequently voided during the nine months ended December 31, 2023, which resulted in a one-time credit in the prior period. This impact was partially offset by higher R&D consulting and patent maintenance costs in 2024.

For the nine months ended December 31, 2024, general and administrative expenses were $52,550 as compared to $325,545 for the nine months ended December 31, 2023, a decrease of $272,995. The decrease was mainly related to a royalty fee we incurred during our nine months ended December 31, 2023 related to patents, which we did not have a similar expense during our nine months ended December 31, 2024.

For the nine months ended December 31, 2024, foreign exchange loss was $15,376 as compared to a gain of $3,212 for the nine months ended December 31, 2023, which was due primarily to the fluctuations in currency exchange rates.

For the nine months ended December 31, 2024, interest expense, net was $28,774 as compared to $13,603 for the nine months ended December 31, 2023. The increase in interest expense related to our loan activity during the nine months ended December 31, 2024 as compared to the same period in 2023.

For the nine months ended December 31, 2023, we received R&D credits totaling $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 December 31, 2024.

Liquidity and Capital Resources

Our unaudited 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 unaudited consolidated financial statements for the nine months ended December 31, 2024, we had an accumulated deficit, we had a net loss along with negative cash generated from