Expion360 Inc

NASDAQ:XPONUnited States

Nov 14, 2024

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• -- Earnings Flash (XPON) EXPION360 Reports Q3 Revenue $1.4M, from 4:07PM ET on Thursday Nov 14, 2024 by MT Newswires

  4:07PM ET on Thursday Nov 14, 2024 by MT Newswires
  Companies Mentioned: XPON
  04:07 PM EST, 11/14/2024 (MT Newswires) -- ...

• Press Release: Expion360 Reports Third Quarter 2024 Financial Results, from 4:05PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:05PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: XPON
  (basic and diluted) $ (24.55) $ (26.25) $ (78.63) $ (76.62) ========== ========== =========== ========== Weighted-average number of common shares outstanding 358,990 69,107 168,219 68,787 Expion360 Inc. Statements of Cash Flows (Unaudited) For the Nine Months Ended September 30, ----------------------------- 2024 2023 ------------- -------------- Cash flows from operating activities Net loss $(13,227,828) $(5,270,281) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 139,876 153,714 Amortization of convertible note costs 667,144 -- Loss on sale of property and equipment 146,760 3,426 Decrease in allowance for doubtful accounts -- (18,804) Stock-based settlement 209,000 251,680 Stock-based compensation 545,527 189,831 Decrease in right-of-use assets and lease liabilities (67,777) -- Increase in derivative liability 5,886,823 -- Changes in operating assets and liabilities: Increase in accounts receivable (283,637) (156,445) Decrease in inventory 460,100 371,653 Increase in prepaid/in-transit inventory (1,198,042) 38,964 Increase in prepaid expenses and other current assets (89,027) (45,759) Decrease in deposits 31,425 5,005 Increase in accounts payable 47,646 206,986 Increase in customer deposits 23,826 46,190 Increase / (decrease) in accrued expenses and other current liabilities 48,851 (6,371) Increase in right-of-use assets and lease liabilities 10,002 22,494 ----------- ---------- Net cash used in operating activities (6,649,331) (4,207,717) Cash flows from investing activities Purchases of property and equipment (10,550) (20,170) Net proceeds from sale of property and equipment 132,611 36,748 ----------- ---------- Net cash provided by investing activities 122,061 16,578 Cash flows from financing activities Principal payments on convertible note (2,750,000) -- Principal payments on long-term debt (109,352) (148,986) Principal payments on stockholder promissory notes (762,500) -- Net proceeds from exercise of warrants 31,420 49,777 Net proceeds from issuance of common stock 9,510,181 -- ----------- ---------- Net cash provided by / (used in) financing activities 5,919,749 (99,209) Net change in cash and cash equivalents (607,521) (4,290,348) Cash and cash equivalents, beginning 3,932,698 7,201,244 ----------- ---------- Cash and cash equivalents, ending $ 3,325,177 $ 2,910,896 ----------- ---------- For the Nine Months Ended September 30, --------------------------------- Supplemental disclosure of cash flow information: 2024 2023 ------------------------------------ -------------- ----------------- Cash paid for interest $ 61,570 $ 92,136 Cash paid for franchise taxes $ -- $ 1,342 Non-cash financing activities: Acquisition/modification of operating lease right-of-use asset and lease liability $ -- $ (13,993) Issuance of common stock for payment on accrued interest $ 90,839 $ -- Issuance of common stock for payment on accrued compensation $ 36,029 $ -- Cashless warrant exercises $ -- $ 41