$SIGY
Sigyn Therapeutics, Inc.

2024 Q3 Form 10-Q Financial Statement

#000149315224033048 Filed on August 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $564.8K $324.9K
YoY Change 44.79% 2.37%
% of Gross Profit
Research & Development $206.2K $240.4K
YoY Change -4.21% 9.71%
% of Gross Profit
Depreciation & Amortization $1.363K $1.364K
YoY Change -20.57% -20.47%
% of Gross Profit
Operating Expenses $808.5K $602.8K
YoY Change 25.77% 5.02%
Operating Profit -$808.5K -$602.8K
YoY Change 25.77% 5.02%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$388.5K -$259.6K
YoY Change 47.75% 74.08%
Pretax Income -$1.197M -$862.4K
YoY Change 32.15% 19.26%
Income Tax
% Of Pretax Income
Net Earnings -$1.197M -$862.4K
YoY Change 32.15% 19.26%
Net Earnings / Revenue
Basic Earnings Per Share -$0.94 -$0.70
Diluted Earnings Per Share -$0.94 -$0.70
COMMON SHARES
Basic Shares Outstanding 1.264M shares 1.225M shares
Diluted Shares Outstanding 1.269M shares 1.238M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $164.8K $53.64K
Short-Term Investments
Other Short-Term Assets $54.32K $42.73K
YoY Change 0.06% -22.53%
Inventory $50.00K $50.00K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $269.1K $146.4K
YoY Change 59.36% 13.65%
LONG-TERM ASSETS
Property, Plant & Equipment $11.05K $12.41K
YoY Change -34.65% -33.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.71K $20.71K
YoY Change 0.0% 0.0%
Total Long-Term Assets $158.3K $173.8K
YoY Change -27.49% -25.42%
TOTAL ASSETS
Total Short-Term Assets $269.1K $146.4K
Total Long-Term Assets $158.3K $173.8K
Total Assets $427.4K $320.2K
YoY Change 10.39% -11.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $611.6K $488.4K
YoY Change 69.14% 43.66%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.275M $3.900M
YoY Change 11.9% 20.14%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $74.75K $92.69K
YoY Change -47.51% -41.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.275M $3.900M
Total Long-Term Liabilities $74.75K $92.69K
Total Liabilities $4.350M $3.992M
YoY Change 9.77% 17.28%
SHAREHOLDERS EQUITY
Retained Earnings -$14.16M -$12.96M
YoY Change 39.28% 39.98%
Common Stock $142.00 $126.00
YoY Change -96.79% -97.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.923M -$3.672M
YoY Change
Total Liabilities & Shareholders Equity $427.4K $320.2K
YoY Change 10.39% -11.51%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$1.197M -$862.4K
YoY Change 32.15% 19.26%
Depreciation, Depletion And Amortization $1.363K $1.364K
YoY Change -20.57% -20.47%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_802_eus-gaap--BasisOfAccounting_zFvNyIO8B4E3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – <span id="xdx_82D_zjmiM7mla6wc">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and include all adjustments necessary for the fair presentation of the Company’s financial position and results of operations for the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company currently operates in one business segment. The Company is not organized by market and is managed and operated as one business. A single management team reports to the chief operating decision maker, the Chief Executive Officer, who comprehensively manages the entire business. The Company does not currently operate any separate lines of businesses or separate business entities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Going Concern</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company had an accumulated deficit of $<span id="xdx_90E_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20240630_zQS6x6p3MbB1" title="Accumulated deficit">12,961,983</span> at June 30, 2024, had a working capital deficit of $<span id="xdx_90D_ecustom--WorkingCapitalDeficit_iI_c20240630_ztEOQzIbvQA3" title="Working capital">3,753,241</span> at June 30, 2024, had net losses of $<span id="xdx_904_eus-gaap--NetIncomeLoss_iN_di_c20240401__20240630_z2CVJHHwjmeh" title="Net loss">862,383</span> and $<span id="xdx_903_eus-gaap--NetIncomeLoss_iN_di_c20240101__20240630_z9U7qyM5FvJc" title="Net loss">1,620,471</span>, and $<span id="xdx_90A_eus-gaap--NetIncomeLoss_iN_di_c20230401__20230630_z6oj7GFVPFGa" title="Net loss">723,124</span> and $<span id="xdx_900_eus-gaap--NetIncomeLoss_iN_di_c20230101__20230630_z7glfN4ERH9f" title="Net loss">2,064,160</span> for the three and six months ended June 30, 2024 and 2023, respectively, and net cash used in operating activities of $<span id="xdx_90A_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_di_c20240101__20240630_zx9PYUKXvrr" title="Net cash provided by used in operating activities">418,406</span> and $<span id="xdx_904_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_di_c20230101__20230630_zZbA9j6wJ2Ud" title="Net cash provided by used in operating activities">891,267</span> for the six months ended June 30, 2024 and 2023, respectively, with no revenue earned since inception, and a lack of operational history. These matters raise substantial doubt about the Company’s ability to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While the Company is attempting to expand operations and increase revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public offering or an asset sale transaction. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While management believes in the viability of its strategy to generate revenues and in its ability to raise additional funds or transact an asset sale, there can be no assurances to that effect or on terms acceptable to the Company. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern for a year from the date of issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-12961983 usd
CY2024Q2 SIGY Working Capital Deficit
WorkingCapitalDeficit
3753241 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-862383 usd
us-gaap Net Income Loss
NetIncomeLoss
-1620471 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-723124 usd
us-gaap Net Income Loss
NetIncomeLoss
-2064160 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-418406 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-891267 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_848_eus-gaap--UseOfEstimates_zYT8RmlZlSu2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_z0wc13p2TWBh">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of these financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the financial statements and the reported amounts of net sales and expenses during the reported periods. Actual results may differ from those estimates and such differences may be material to the financial statements. The more significant estimates and assumptions by management include among others: warrant valuation. The Company calculates the fair value of warrants using the Black-Scholes option-pricing method. The Black-Scholes option-pricing method requires the use of subjective assumptions, including stock price volatility, the expected life of stock options, risk free interest rate and the fair value of the underlying common stock on the date of grant. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q2 us-gaap Advertising Expense
AdvertisingExpense
8 usd
us-gaap Advertising Expense
AdvertisingExpense
346 usd
CY2023Q2 us-gaap Advertising Expense
AdvertisingExpense
100 usd
us-gaap Advertising Expense
AdvertisingExpense
284 usd
CY2024Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
240429 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
473022 usd
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
219159 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
367002 usd
CY2024Q2 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84A_eus-gaap--ConcentrationRiskCreditRisk_zTVRdX8nRtXk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zIKdSOqdCQVj">Concentrations, Risks, and Uncertainties</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Business Risk</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Substantial business risks and uncertainties are inherent to an entity, including the potential risk of business failure.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is headquartered and operates in the United States. To date, the Company has generated no revenues from operations. There can be no assurance that the Company will be able to raise additional capital and failure to do so would have a material adverse effect on the Company’s financial position, results of operations and cash flows. Also, the success of the Company’s operations is subject to numerous contingencies, some of which are beyond management’s control. Currently, these contingencies include general economic conditions, price of components, competition, and governmental and political conditions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Interest rate risk</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and liabilities do not have material interest rate risk.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Credit risk</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is exposed to credit risk from its cash in banks. The credit risk on cash in banks is limited because the counterparties are recognized financial institutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Seasonality</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The business is not subject to substantial seasonal fluctuations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Major Suppliers</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sigyn Therapy is comprised of components that are supplied by various industry vendors. Additionally, the Company is reliant on third-party organizations to conduct clinical development studies that are necessary to advance Sigyn Therapy toward the marketplace.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Should the relationship with an industry vendor or third-party clinical development organization be interrupted or discontinued, it is believed that alternate component suppliers and third-party clinical development organizations could be identified to support the continued advancement of Sigyn Therapy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
19787 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16902 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12411 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15296 usd
CY2024Q2 us-gaap Depreciation
Depreciation
1364 usd
us-gaap Depreciation
Depreciation
2885 usd
CY2023Q2 us-gaap Depreciation
Depreciation
1715 usd
us-gaap Depreciation
Depreciation
3430 usd
CY2024Q2 us-gaap Cash
Cash
1548605 usd
CY2024Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2010027 usd
CY2023Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2507636 usd
CY2024Q2 SIGY Debt Instrument Original Discount
DebtInstrumentOriginalDiscount
-106549 usd
CY2023Q4 SIGY Debt Instrument Original Discount
DebtInstrumentOriginalDiscount
-225835 usd
CY2024Q2 SIGY Beneficial Conversion Feature
BeneficialConversionFeature
-7081 usd
CY2023Q4 SIGY Beneficial Conversion Feature
BeneficialConversionFeature
-22013 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
115953 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
49489 usd
CY2024Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
1780444 usd
CY2023Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
2210299 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1281216 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
728811 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
2010027 usd
CY2022Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2279316 usd
CY2023 SIGY Convertible Notes Payable Issued
ConvertibleNotesPayableIssued
1748520 usd
CY2023 SIGY Conversion Of Debt For Common Stock
ConversionOfDebtForCommonStock
-1520200 usd
CY2023Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2507636 usd
CY2023Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2507636 usd
SIGY Convertible Notes Payable Issued
ConvertibleNotesPayableIssued
576747 usd
SIGY Conversion Of Debt For Common Stock
ConversionOfDebtForCommonStock
-1074356 usd
CY2024Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2010027 usd
CY2024Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2010027 usd
CY2022Q4 SIGY Debt Instrument Note Discounts
DebtInstrumentNoteDiscounts
642660 usd
CY2023 SIGY Note Discounts Issued In Conjunction With Debt
NoteDiscountsIssuedInConjunctionWithDebt
1695855 usd
CY2023 SIGY Accretion Of Note Discounts
AccretionOfNoteDiscounts
2041178 usd
CY2023Q4 SIGY Debt Instrument Note Discounts
DebtInstrumentNoteDiscounts
297337 usd
CY2023Q4 SIGY Debt Instrument Note Discounts
DebtInstrumentNoteDiscounts
297337 usd
SIGY Note Discounts Issued In Conjunction With Debt
NoteDiscountsIssuedInConjunctionWithDebt
317871 usd
SIGY Accretion Of Note Discounts
AccretionOfNoteDiscounts
385625 usd
CY2024Q2 SIGY Debt Instrument Note Discounts
DebtInstrumentNoteDiscounts
229583 usd
CY2024Q2 SIGY Debt Instrument Note Discounts
DebtInstrumentNoteDiscounts
229583 usd
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
2210299 usd
CY2024Q2 us-gaap Notes Payable Current
NotesPayableCurrent
1780444 usd
CY2023Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.81 pure
CY2024Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.19 pure
CY2024Q2 SIGY Advance From Shareholder
AdvanceFromShareholder
70000 usd
CY2023Q4 SIGY Advance From Shareholder
AdvanceFromShareholder
80000 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1148 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1148 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
32 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
32 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1263653 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1288415 shares
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
232937 usd
CY2024Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
6.00
us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
38826 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
559839 shares
CY2023Q2 us-gaap Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
198000 usd
CY2024Q1 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
64100 shares
CY2023 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
50000 usd
CY2024Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
37500 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
75000 usd
CY2023Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
37500 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
75000 usd
CY2023Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
352965 shares
CY2021Q2 us-gaap Payments For Rent
PaymentsForRent
5955 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
35838 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
35838 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
17919 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
17919 usd
us-gaap Lease Cost
LeaseCost
35838 usd
us-gaap Lease Cost
LeaseCost
35838 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
17919 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
17919 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
38097 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
36987 usd
SIGY Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
38097 usd
SIGY Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
36987 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10 pure
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10 pure
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
39045 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
79456 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
54225 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
172726 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10 pure
CY2024Q2 SIGY Lease Liability Present Values
LeaseLiabilityPresentValues
215147 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
65409 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
92689 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
158098 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14628 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
581247 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
463463 shares
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
474413 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
459169 shares
us-gaap Net Income Loss
NetIncomeLoss
-1620471 usd
us-gaap Net Income Loss
NetIncomeLoss
-2064160 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-862383 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-723124 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1234241 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1022795 shares
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1238085 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1083277 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1234241 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1022795 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1238085 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1083277 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.31
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.31
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.02
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.67
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.67
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0001493152-24-033048-index-headers.html Edgar Link pending
0001493152-24-033048-index.html Edgar Link pending
0001493152-24-033048.txt Edgar Link pending
0001493152-24-033048-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
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ex32-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
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R1.htm Edgar Link pending
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sigy-20240630.xsd Edgar Link pending
sigy-20240630_cal.xml Edgar Link unprocessable
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