Company: SINT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024040
Chunk: 27

Company: Sintx Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 27
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 to the medical community. Our current research and development
pipeline is centered on medical-grade devices that incorporate antimicrobial properties, enhanced imaging capabilities, and durability
under physiological conditions, which are critical for orthopedic implants, spinal fusion devices, and other surgical tools. As we transition
our focus away from industrial applications, we anticipate this strategic shift will enable us to better serve the medical sector, address
critical unmet needs, and position SINTX as a leading provider in the medical device market. By focusing on partnerships and collaborations
with healthcare institutions and industry leaders, SINTX is positioned to expand its footprint in the medical device sector and drive
shareholder value through sustainable, high-impact innovations.

On
August 8, 2024, the Board of Directors approved a plan to implement a Company-wide reduction in the workforce. This decision was part
of the Company’s ongoing strategic review of its operations aimed at improving operational efficiency and reducing costs.

On
August 12, 2024, the Board of Directors approved a plan to cease efforts to make the armor plant operational. This decision was made
to streamline operations and focus on core business areas that align with the Company’s long-term strategic goals. The armor plant
has not been fully operational since the acquisition of the armor equipment in July 2021 and has been completely shut down since October
2023 due to the malfunctioning of the sintering furnace. In connection with this decision, the Company incurred an impairment charge
of approximately $4.6 million during the year ended December 31, 2024. This charge primarily relates to the write-down of certain long-lived
assets associated with the armor plant to their estimated fair value.

As
explained in Note 2, on February 19, 2025, the Company entered into an Entity Acquisition Agreement (the “Agreement”) with
Tethon Corporation (“Tethon”), pursuant to which the Company sold to Tethon all of the issued and outstanding shares of TA&T
in exchange for the assumption by Tethon of the outstanding liabilities of TA&T.

As a result of these uncertainties, management has concluded that substantial doubt exists about the Company’s ability to continue
as a going concern for 12 months from the date these condensed consolidated financial statements are issued. The condensed consolidated financial statements
do not include any adjustments that might result from the outcome of these uncertainties.

Cash
Flows

The
following table summarizes, for the periods indicated, cash flows from operating, investing and