Siyata Mobile Inc

NASDAQ:SYTAUnited States

For the three and 12 months ended December 31
12 months 12 months 3 months 3 months ended ended ended ended Dec 31, Dec 31, Dec 31, 2023 Dec 31, 2022 2023 2022 Revenue 8,233,301 6,481,910 1,877,557 2,111,523 Cost Of Sales (5,575,372) (5,092,011) (1,010,732) (1,941,451) ----------- ----------- ---------- ---------- Gross Profit 2,657,929 1,389,899 866,825 170,072 32.3% 21.4% 46.2% 8.1% Expenses Amortization and depreciation (Note 6,7) 1,754,957 1,142,165 446,318 330,931 Development expenses (Note 7) 578,356 339,828 405,254 39,891 Selling and marketing (Note 14) 4,784,994 4,723,309 1,320,066 1,289,108 General and administrative (Note 15) 6,080,014 7,435,016 1,667,918 2,750,314 (Gain) loss on valuation of inventory (Note 5) (161,450) 813,205 (161,450) 509,889 Loss (income) from water damage (Note 5) (834,713) 544,967 (49,272) 544,967 Bad debts (recovered) (Note 4) 47,526 86,103 20,866 22,818 Share-based payments (Note 12) 930,564 2,888,704 156,959 410,009 ----------- ----------- ---------- ---------- Total Operating Expenses 13,180,248 17,973,297 3,806,659 5,897,927 Net Operating Loss (10,522,319) (16,583,398) (2,939,834) (5,727,855) OTHER EXPENSES Finance expense (Note 16) 841,815 181,413 732,782 52,967 Foreign exchange (49,258) 586,794 139,236 387,259 Change in fair value of convertible promissory note - 4,794,710 - 1,069,348 Change in fair value of warrant liability (Note 11) - - - Transaction costs (Note 17) 1,517,389 (8,245,662) (44,376) (1,082,474) Transaction Costs 99,529 1,398,598 99,529 433,351 ----------- ----------- ---------- ---------- Total Other Expenses 2,409,475 (1,284,147) 927,171 860,451 Net Loss For The Period (12,931,794) (15,299,251) (3,867,005) (6,588,306) Translation Adjustment - 137,609 (1,019) Comprehensive Loss For The Period (12,931,794) (15,161,642) (3,867,005) (6,589,325) Weighted average shares 228,578 29,964 463,229 56,791 Basic and diluted loss per share $ (56.57) $ (510.59) $ (8.35) $ (116.03)