Summary by Moomoo AI
Signing Day Sports, Inc. (SGN.US) reported its financial results for the quarter ended September 30, 2024. The company's net revenues remained stable at approximately $55,000 compared to the same period last year. However, the cost of revenues increased by 195.6%, primarily due to the purchase of e-commerce apparel. Advertising and marketing expenses decreased by 101.7% due to a more economical strategy, while general and administrative expenses rose by 157.9%, driven by increases in legal, corporate regulatory, stock-based compensation, and insurance expenses. The total other expense, net, decreased by 48.8% mainly due to reduced interest expense. The net loss for the quarter was $1.602 million, an increase from the net loss of $919,625 in the previous year. The company's cash and cash equivalents stood at...Show More
