Sigma Labs Announces Financial Results for the Second Quarter Ended June 30, 2017 and Provides Corporate Update

 

  Sigma Labs, Inc.
  Condensed Statements of Cash Flows
  (Unaudited)
      
    Six Months ended
     2017    2016 
      
OPERATING ACTIVITIES   
  Net Loss$ (1,932,706) $ (1,212,513)
  Adjustments to reconcile Net Income (Loss) to Net Cash
used in operating activities:
   
   Noncash Expenses:   
  Amortization  6,526    5,764 
  Depreciation  85,125    87,054 
  Stock Compensation  307,445    130,913 
  Loss on Joint Venture -   103 
  Revaluation of derivative liability and debt discount related to
notes payable
  (93,206)  - 
  Note payable original issue discount  49,589   - 
  Note payable debt discount amortization  56,441   - 
   Change in assets and liabilities:   
  Accounts Receivable  52,769    27,564 
  Inventory  (40,586)   (70,765)
  Prepaid Assets  (1,120)   7,344 
  Accounts Payable  25,430    63,974 
  Accrued Expenses  40,220    46,006 
    NET CASH USED IN OPERATING ACTIVITIES   (1,444,073 )    (914,556 )
      
INVESTING ACTIVITIES   
  Purchase of Furniture and Equipment  (11,380)     (25,430 )
    Purchase of Intangible Assets    (22,054 )      (46,835 )
    Notes receivable    (762,034 )      -   
    NET CASH USED IN INVESTING ACTIVITIES    (795,468 )      (72,265 )
           
FINANCING ACTIVITIES      
    Proceeds from issuance of common stock and warrants    5,225,649       -  
    NET CASH PROVIDED BY FINANCING ACTIVITIES    5,225,649        -  
           
NET CASH DECREASE FOR PERIOD    2,986,108        (986,821 )
           
CASH AT BEGINNING OF PERIOD    398,391        1,539,809  
           
CASH AT END OF PERIOD $  3,384,499     $  552,988  
           
Supplemental Disclosure of Cash Flow Information:      
    Cash paid during the period for:      
      Interest $  50,418     $ -  
      Income Taxes $ -     $ -  
           
Supplemental Schedule of Noncash Investing and Financing Activities:    
    Issuance of Common Stock for services $  51,408     $  44,998  
           

Investor Relations Contact:
Bret Shapiro
Managing Director
CORE IR
561-479-8566 
brets@coreir.com



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