Company: BSAI
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001096906-25-001383
Chunk: 24

Company: BLUSKY AI INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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 to the Six months ended June 30, 2024

We had net loss of $1,381,531 for the six-month period ended June 30, 2025, and a net loss of $759,509 for the six-month period ended June 30, 2024. This change in our results over the two periods is primarily the result of an increase in consulting expense and the elimination of derivative liabilities during the current period. The following table summarizes key items of comparison and their related increase (decrease) for the three-month periods ended June 30, 2025 and 2024:

  Six Months Ended  Increase/   June 30, 2025  June 30, 2024  (Decrease) General and Administrative $1,687,294  $260,175  $1,427,119 Depreciation and Amortization Expenses  -   362   (362 )Total Operating Expenses  1,687,294   260,537   1,426,757 Loss from Operations  (1,687,294 )  (260,537 )  (1,426,757 )Other Income (expense)  96   -   96 Change in Derivative Liabilities  -   49,036   49,036 Initial Derivative Expense  -   (193,582 )  193,582 Gain on Extinguishment of Debt  338,673   -   338,673 Interest Expense  (33,006 )  (354,426 )  321,420 Loss from Operations Before Taxes  (1,381,531 )  (759,509 )  (622,022 )Provision for Income Taxes  -   -   - Net Loss $(1,381,531 ) $(759,509 ) $(622,022 )

General and administrative expenses increased for the six-month period ended June 30, 2025 because of higher consulting and investor relations expenses, compared to the six-month period ended June 30, 2024.

Changes in derivative liabilities was because of the elimination of the derivative liabilities in the current year that was reported under the gain on extinguishment of debt.

Interest expense decreased in 2025 because of the interest expense related to settled notes was lower and the decrease of amort