$RSCF

REFLECT SCIENTIFIC INC

CIK:0001103090|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenues	$ 514,023	$ 525,874	$ 1,532,849	$ 891,385
Cost of goods sold	186,197	195,888	604,677	373,371
Gross profit	327,826	329,986	928,172	518,014
Operating Expenses
Salaries and wages	137,943	155,677	428,611	472,521
General and administrative	87,552	84,331	327,411	272,684
Research and development	3,092	9,082	15,072	20,528
Total Operating Expenses	228,587	249,090	771,094	765,733
INCOME (LOSS) FROM OPERATIONS	99,239	80,896	157,078	(247,719)
Other Income (Expense)	10,791	5,368	29,968	5,368
NET INCOME (LOSS) BEFORE INCOME TAXES	110,030	86,264	187,046	(242,351)
INCOME TAX EXPENSE	(100)		(100)	(312)
NET INCOME (LOSS)	$ 109,930	$ 86,264	$ 186,946	$ (242,663)
Income (loss) per common share
Basic (in Dollars per share)	$ 0	$ 0	$ 0	$ 0
Diluted (in Dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted average shares outstanding
Basic (in Shares)	85,664,086	85,214,086	85,664,086	85,214,086
Diluted (in Shares)	85,664,086	85,664,086	85,664,086	85,214,086

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 186,946	$ (242,663)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Stock-based compensation		20,625
Amortization of right-of-use assets	54,035	44,192
Changes in operating assets and liabilities:
Accounts receivable	(163,907)	9,147
Inventories	196,617	(123,602)
Prepaid expenses and other current assets	(3,451)	10,528
Accounts payable and accrued expenses	(25,054)	25,307
Customer deposits	(447,444)	260,604
Operating lease liabilities	(45,285)	(46,619)
Net cash (used in) provided by operating activities	(247,543)	(42,481)
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash from investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Net cash from financing activities
NET CHANGE IN CASH AND CASH EQUIVALENTS	(247,543)	(42,481)
CASH AND CASH EQUIVALENTS
Beginning of the period	1,277,951	1,381,927
End of the period	1,030,408	1,339,446
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest
Cash paid for income taxes

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 1,030,408	$ 1,277,951
Accounts receivable, net	272,098	108,191
Inventories, net	775,676	972,293
Prepaid expenses and other current assets	15,166	11,715
Total Current Assets	2,093,348	2,370,150
Operating lease right-of-use assets	181,618	235,653
Goodwill	60,000	60,000
Other long-term assets	3,100	3,100
TOTAL ASSETS	2,338,066	2,668,903
Current Liabilities
Accounts payable and accrued expenses	61,187	86,241
Customer deposits		447,444
Current portion of operating lease liabilities	78,065	62,681
Total Current Liabilities	139,252	596,366
Operating lease liabilities, net of current portion	119,294	179,963
TOTAL LIABILITIES	258,546	776,329
Stockholders' Equity
Preferred Stock, $0.01 par value, 5,000,000 shares authorized; none issued and outstanding as of September 30, 2024 and December 31, 2023
Common stock, $0.01 par value, 100,000,000 shares authorized; 85,664,086 shares issued and outstanding as of September 30, 2024 and December 31, 2023	856,640	856,640
Additional paid-in capital	20,302,681	20,302,681
Accumulated deficit	(19,079,801)	(19,266,747)
TOTAL STOCKHOLDERS’ EQUITY	2,079,520	1,892,574
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 2,338,066	$ 2,668,903