Company: BSAI
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001096906-25-001383
Chunk: 60

Company: BLUSKY AI INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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 General and Administrative $1,541,189  $136,438  $1,404,751 Depreciation and Amortization Expenses  -   181   (181 )Total Operating Expenses  1,541,189   136,619   1,404,570 Loss from Operations  (1,541,189 )  (136,619 )  (1,404,570 )Change in Derivative Liabilities  -   65,294   65,294 Initial Derivative Expense  -   (136,466 )  136,466 Interest Expense  (15,731 )  (294,738 )  279,007 Loss from Operations Before Taxes  (1,556,920 )  (502,529 )  (1,054,391 )Provision for Income Taxes  -   -   - Net Loss $(1,556,920 ) $(502,529 ) $(1,054,391 )

General and administrative expenses increased for the three-month period ended June 30, 2025 because of an increase in consulting, legal and investor relations expenses, compared to the three-month period ended June 30, 2024.

Changes in derivative liabilities was due to the elimination of the derivative liabilities in the current year that was reported under the gain on extinguishment of debt in the first three months of the 2025 fiscal year.

Interest expense decreased for the three-month period ended June 30, 2025 because the interest expense related to settled notes was lower and the decrease of amortization of existing debt discounts.

Six months ended June 30, 2025 compared 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,