GTX CORP

CIK:0001375793|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Total revenues	$ 32,017	$ 44,163	$ 72,785	$ 92,481
Total cost of goods sold	11,070	14,933	33,446	20,063
Gross margin	20,947	29,230	39,339	72,418
Operating expenses:
Wages and benefits	38,752	48,918	116,818	131,801
Professional fees	25,000	11,138	46,974	67,420
Sales and marketing expenses	1,246	3,075	5,084	10,859
General and administrative	49,991	53,693	104,042	125,939
Total operating expenses	114,989	116,824	272,918	336,019
Loss from operations	(94,042)	(87,594)	(233,579)	(263,601)
Other income/(expenses):
Amortization of debt discount	(11,250)	(8,836)	(24,500)	(20,236)
Interest expense and financing costs	(63,889)	(57,428)	(146,466)	(121,165)
Total other income/(expenses)	(75,139)	(66,264)	(170,966)	(141,401)
Net loss	$ (169,181)	$ (153,858)	$ (404,545)	$ (405,002)
Weighted average number of common shares outstanding - basic	37,710,876	33,845,931	36,972,212	33,672,305
Weighted average number of common shares outstanding - diluted	37,710,876	33,845,931	36,972,212	33,672,305
Net income/(loss) per common share - basic	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.01)
Net income/(loss) per common share - diluted	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.01)
Product [Member]
Total revenues	$ 8,132	$ 16,607	$ 22,501	$ 41,549
Total cost of goods sold	7,105	11,851	25,197	16,326
Service [Member]
Total revenues	23,885	27,556	50,284	50,932
Other [Member]
Total cost of goods sold	$ 3,965	$ 3,082	$ 8,249	$ 3,737

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Cash flows from operating activities
Net loss	$ (404,545)	$ (405,002)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	29,789	43,919
Stock based compensation	1,200	47,024
Amortization of debt discount	24,500	20,236
Changes in operating assets and liabilities:
Accounts receivable	(5,097)	168
Inventory	15,867	5,098
Other current and non-current assets		(1,463)
Accounts payable and accrued expenses	133,077	(230,134)
Accrued expenses - related parties	14,585	209,438
Deferred revenues	2,177	1,499
Accrued interest and financing costs	12,451	56,302
Net cash used in operating activities	(175,996)	(252,915)
Cash flows from investing activities
Property and equipment purchases	(984)	(3,000)
Net cash used in investing activities	(984)	(3,000)
Cash flows from financing activities
Proceeds from issuance of convertible debt	50,000	200,000
Proceeds from issuance of debt	43,875	40,000
Proceeds from sale of preferred stock	55,000
Payments on notes	(9,620)	(14,930)
Payments on debt	(8,761)	(8,019)
Net cash provided by financing activities	130,494	217,051
Net change in cash and cash equivalents	(46,486)	(38,864)
Cash and cash equivalents, beginning of period	53,501	68,440
Cash and cash equivalents, end of period	7,015	29,576
Supplemental disclosure of cash flow information:
Income taxes paid
Interest paid	7,943
Supplemental disclosure of noncash investing and financing activities:
Issuance of common stock for conversion of debt and interest	34,000
Debt discount on convertible notes	$ 7,500	$ 8,000

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 7,015	$ 53,501
Accounts receivable, net	16,967	11,870
Inventory	221,539	237,406
Investment in marketable securities	649	649
Other current assets	6,252	6,253
Total current assets	252,422	309,679
Property and equipment, net	17,145	18,333
Intangible assets, net	178,465	206,081
Total assets	448,032	534,093
Current liabilities:
Accounts payable	178,406	157,086
Deferred revenues	11,420	9,244
Short-term debt – line of credit	76,881	85,642
Short-term debt - CARE loans	20,569	18,056
Total current liabilities	4,851,462	4,590,666
Long-term convertible debt	230,000	260,000
Long-term debt - CARE loan	129,431	131,944
Total liabilities	5,210,893	4,982,610
Commitments and contingencies (Note 12)
Stockholders’ deficit:
Common stock, $0.0001 par value; 2,071,000,000 shares authorized; 37,710,876 and 34,745,931 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	3,771	3,474
Additional paid-in capital	25,212,730	25,122,881
Accumulated deficit	(29,979,439)	(29,574,894)
Total stockholders’ deficit	(4,762,861)	(4,448,517)
Total liabilities and stockholders’ deficit	448,032	534,093
Series A Preferred Stock [Member]
Stockholders’ deficit:
Preferred stock	14	14
Series B Preferred Stock [Member]
Stockholders’ deficit:
Preferred stock
Series C Preferred Stock [Member]
Stockholders’ deficit:
Preferred stock
Series D Preferred Stock [Member]
Stockholders’ deficit:
Preferred stock	8	8
Series E Preferred Stock [Member]
Stockholders’ deficit:
Preferred stock	55
Nonrelated Party [Member]
Current liabilities:
Accrued expenses	444,431	332,001
Convertible notes, related parties, net of discount	1,621,000	1,552,250
Notes payable	194,651	146,195
Related Party [Member]
Current liabilities:
Accrued expenses	1,026,911	1,012,999
Convertible notes, related parties, net of discount	1,232,193	1,232,193
Notes payable	$ 45,000	$ 45,000