Aequus Reports Second Quarter 2023 Financial Highlights and General Update
Net losses decreased by 9.22 % in Second Quarter 2023 compared to the same period last year, with the Second Quarter 2023 net loss of $700,875 versus a $772,100 loss in the three months ended June 30, 2022 (“Second Quarter 2022”).
- Net losses decreased by 9.22 % in Second Quarter 2023 compared to the same period last year, with the Second Quarter 2023 net loss of $700,875 versus a $772,100 loss in the three months ended June 30, 2022 (“Second Quarter 2022”).
- Highlights from the quarter are as follows:
Sales and marketing costs for Second Quarter 2023 were $372,844 compared to $663,082 in Second Quarter 2022, a decrease of $290,238 or 44%. - The Company incurred research and development (“R&D”) expenses of $25,824 in Second Quarter 2023 compared to $7,945 in Second Quarter 2022.
- General and administration (“G&A”) expenses were $353,584 in Second Quarter 2023 compared to $457,177 in Second Quarter 2022, a decrease of $103,593.