iTonic Holdings Ltd Form 6-K Filing
This report contains the unaudited condensed consolidated financial statements for iTonic Holdings Ltd. as of June 30, 2026, and for the six-month periods ended June 30, 2026, and 2025. The financial statements include a balance sheet, statements of operations and comprehensive loss, and statements of cash flows. Key highlights include: Balance Sheet: Total Assets increased significantly from $9,096,296 as of December 31, 2025, to $26,575,860 as of June 30, 2026. This increase was driven by a rise in current assets, particularly "Prepayments and other current assets." Total Liabilities also increased from $969,832 to $1,922,626. Total Equity saw a substantial increase from $8,126,464 to $24,653,234, mainly due to a significant increase in additional paid-in capital from a private placement. Statements of Operations: Revenues increased from $67,507 for the six months ended June 30, 2025, to $100,906 for the same period in 2026. However, Cost of revenues also increased, leading to a gross profit of $64,710 in 2026 compared to $53,348 in 2025. Operating expenses saw a dramatic rise, particularly general and administrative expenses and research and development expenses, resulting in a significant increase in the loss from operations, from $2,080,555 in 2025 to $5,081,734 in 2026. Other income (expenses) also became significantly negative in 2026 due to goodwill and intangible asset impairment losses. Consequently, the net loss widened considerably from $2,037,496 in 2025 to $6,782,691 in 2026. Statements of Cash Flows: Net cash used in operating activities decreased from $2,830,921 in 2025 to $729,098 in 2026, despite the increased net loss, due to significant changes in operating assets and liabilities. Investing activities show a substantial outflow of $20,002,405 in 2026, primarily due to an advance for business combinations, compared to $1,402,738 in 2025. Financing activities provided significant positive cash flow in 2026 ($20,017,971), mainly from the issuance of equity securities in a private placement, contrasting with a net cash used in 2025 ($116,353). Going Concern: The report notes that the company