Sigma Labs Announces Full Year 2017 Financial Results
|
Sigma Labs, Inc. | |
Condensed Statements of Operations
| |
(Unaudited) | | | | | | | |
Twelve Months |
Twelve Months | | | |
December 31, 2017 |
December 31, 2016 | | | | | | | |
REVENUES | $ | 641,049 | | $ | 942,222 | | | | | | | | |
COST OF REVENUES | | 272,372 | | | 228,902 | | | | | | | | |
GROSS PROFIT | |
368,677 | | |
713,320 | | | | | | | | |
EXPENSES | | | | | Salaries & Benefits | | 1,509,672 | | | 1,230,267 | | | | Stock-Based Compensation | | 719,796 | | | 341,558 | | | | Operating & R&D Costs | | 302,043 | | | 120,638 | | | | Investor & Public Relations | | 666,003 | | | 621,407 | | | | Legal & Professional Services Fees | | 563,300 | | | 313,432 | | | | Office Expense | | 324,920 | | | 272,895 | | | | Depreciation & Amortization | | 196,943 | | | 178,841 | | | | Other Operating Expenses | | 137,989 | | | 132,220 | | | |
Total Expenses | |
4,420,667 | | |
3,211,258 | | | | | | | | | | | | |
OPERATING INCOME | |
(4,051,990 |
) | |
(2,497,938 |
) |
-
| |
OTHER INCOME (EXPENSE) | | | | | Interest Income | | 40,107 | | | 355 | | | | State Incentives | | 154,568 | | | 51,703 | | | | Decrease in fair value of derivative liabilities | | (186,908 | ) | | 354,644 | | | | Interest Expense | | (161,852 | ) | | (40,228 | ) | | | Loss on Disposal of Assets | | (13,161 | ) | | - | | | | Debt Discount Amortization | | (358,280 | ) | | (89,570 | ) | | |
Total Other Income | |
(525,526 |
) | |
276,904 | | | | | | | | |
LOSS BEFORE PROVISION FOR INCOME TAXES | |
(4,577,516 |
) | |
(2,221,034 |
) | | | | | | | |
Provision for income Taxes | |
-
| | |
-
| | | | | | | | |
Net Loss |
$ |
(4,577,516 |
) |
$ |
(2,221,034 |
) | | | | | | | |
Net Loss per Common Share - Basic and Diluted |
$ |
(1.04 |
) |
$ |
(0.71 |
) | | | | | | | |
Weighted Average Number of Shares
| | | | |
Outstanding - Basic and Diluted | | 4,403,479 | | | 3,125,022 | | | | |
|
