Sigma Labs Announces Third Quarter Financial Results
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Sigma Labs Announces Third Quarter Financial Results

SANTA FE, N.M., Nov. 14, 2016 (GLOBE NEWSWIRE) -- Sigma Labs, Inc. (OTCQB:SGLB) (“Sigma Labs” or the “Company”), a provider of quality assurance software under the PrintRite3D® brand, today announced financial results for the three months ended September 30, 2016.

Recent Highlights

“Sigma Labs continued to focus on long term growth this quarter – winning new contracts and positioning the Company for faster expansion going forward,” said Mark Cola, President & CEO of Sigma Labs. “We are aggressively pursuing new business development opportunities and are encouraged by the high level of interest our software solutions receive in the industry – resulting in the potential for many new customer relationships, such as with Siemens. At the same time, we launched INSPECT™ 1.3.2 this quarter and are about to launch version 2.0 at the Formnext show in Frankfurt later this week. We also recently completed a private placement that brought in funds to fuel future R&D and sales. All in all, we believe the Company is in good shape to achieve higher top line growth as we turn the corner on fiscal 2017.”

2016 Third Quarter Financial Results
Revenue for the three months ended September 30, 2016 was approximately $0.2 million versus approximately $0.3 million for the same period in 2015. The Company reported a net loss for the third quarter of approximately $0.7 million, or $(0.11) per diluted share, versus a loss of approximately $0.6 million, or $(0.09) per diluted share, for the third quarter of 2015.

Investor Conference Call
The Company will host a conference call to discuss its 2016 third quarter financial results today, November 14, 2016, at 11:00 a.m. Eastern Time. To participate in the call, please dial toll free 1-844-802-2441, or 1-412-317-5134, approximately five minutes before the conference call time stated above. A live webcast of the call can also be accessed on the Sigma Labs website at www.sigmalabsinc.com. A recording will be available on the Company's website upon completion of the call.

About Sigma Labs, Inc.
Sigma Labs, Inc. develops and engineers advanced, in-process, non-destructive quality inspection systems for commercial firms worldwide seeking productive solutions for metal-based additive manufacturing or 3D printing, and other advanced manufacturing technologies. For more information please visit us at www.sigmalabsinc.com

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements often contain words such as "expects," "anticipates," "intends," "believes" or "will." Our forward-looking statements are subject to a number of risks, uncertainties and assumptions that could adversely affect us, including the risks set forth in our annual report on Form 10-K. The forward-looking statements in this press release are made only as of the date of this press release. We undertake no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise.

Sigma Labs, Inc. 
Condensed Statements of Operations 
(Unaudited) 
      
 Three Months EndedNine Months Ended 
 September 30, 2016September 30, 2015September 30, 2016September 30, 2015 
      
INCOME     
  Services$  189,951 $  266,566 $  642,230 $  648,515  
  Total Revenue   189,951     266,566     642,230     648,515   
      
COST OF SERVICE REVENUE   69,259    25,250    207,744    138,379  
      
  GROSS PROFIT   120,693     241,316     434,486     510,136   
      
EXPENSES     
  Other General and Administration   437,873    293,187    1,345,576    886,965  
  Payroll Expense   259,011    191,399    727,494    338,533  
  Stock-Based Compensation   105,630    221,500    236,554    478,500  
  Research and Development   37,532    122,517    88,504    206,545  
  Total Expenses   840,046     828,603     2,398,128     1,910,543   
      
OTHER INCOME (EXPENSE)     
  Interest Income   35    265    288    1,137  
  Other Income   -     -     31,626    -   
Venture   (3)   (108)   (105)   (108) 
  Total Other Income (Expense)   32     157     31,809     1,029   
      
LOSS BEFORE INCOME TAXES   (719,320)   (587,130)   (1,931,833)   (1,399,378) 
      
Provision for income Taxes   -      -      -      -    
      
Net Loss$   (719,320)$   (587,130)$   (1,931,833)$   (1,399,378) 
      
Loss per Common Share - Basic and Diluted$   (0.11)$   (0.09)$   (0.31)$   (0.22) 
      
Weighted Average Number of Shares     
  Outstanding - Basic and Diluted 6,267,577  6,259,349  6,267,577  6,243,642  
      

 

Sigma Labs, Inc. 
Unaudited Condensed Balance Sheets 
    
    
 September 30, 2016December 31, 2015 
    
ASSETS   
  Current Assets   
  Cash$  137,702 $  1,539,809  
  Accounts Receivable, net   119,599    280,222  
  Inventory   84,659    20,129  
  Prepaid Assets   34,097    38,687  
  Total Current Assets   376,057     1,878,847   
    
    
  Other Assets   
  Property and Equipment, net   609,782    714,754  
  Intangible Assets, net   222,674    167,644  
  Investment in Joint Venture   500    9,222  
  Prepaid Stock Compensation    208,848    418,547  
  Total Other Assets   1,041,804     1,310,167   
    
TOTAL ASSETS$   1,417,861  $   3,189,014   
    
LIABILITIES AND STOCKHOLDERS' EQUITY    
  Current Liabilities   
  Accounts Payable$  143,217 $  38,393  
  Accrued Expenses   96,322    71,523  
  Total Current Liabilities   239,539     109,916   
    
TOTAL LIABILITIES   239,539    109,916  
    
  Stockholders' Equity    
  Preferred Stock, $0.001 par; 10,000,000 shares authorized;  
  None issued and outstanding   -     -   
  Common Stock, $0.001 par; 15,000,000 shares authorized;  
  6,267,577 and 6,239,073 issued and outstanding at   
  September 30, 2016 and 2015, respectively   6,268    6,239  
  Additional Paid-In Capital   10,668,007    10,636,979  
  Accumulated Deficit   (9,495,953)   (7,564,120) 
  Total Stockholders' Equity    1,178,322     3,079,098   
    
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $   1,417,861  $   3,189,014   
    


Investor Relations Contact:
Chris Witty
cwitty@darrowir.com; 646-438-9385