$WORX

SCWorx Corp.

CIK:0001674227|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 706,049	$ 682,632	$ 1,450,948	$ 1,402,931
Cost of revenue	375,626	502,215	746,416	1,085,651
Gross profit	330,423	180,417	704,532	317,280
Operating expenses:
Legal and professional	124,166	111,339	282,521	315,318
Salaries and wages	139,285	155,276	279,731	239,554
General and administrative	187,040	207,329	397,277	389,932
Depreciation	886		1,771
Total operating expenses	451,377	473,944	961,300	944,804
Loss from operations	(120,954)	(293,527)	(256,768)	(627,524)
Other income (expense)
Interest expense		(1,534,454)	(37,953)	(1,676,760)
Loss on shares issued for legal settlement		(78,104)		(78,104)
Total other expense		(1,612,558)	(37,953)	(1,754,864)
Net loss before income taxes	(120,954)	(1,906,085)	(294,721)	(2,382,388)
Provision for (benefit from) income taxes
Net loss	$ (120,954)	$ (1,906,085)	$ (294,721)	$ (2,382,388)
Net loss per share, basic (in Dollars per share)	$ (1.35)	$ (82.27)	$ (3.31)	$ (140.13)
Net loss per share, diluted (in Dollars per share)	$ (1.35)	$ (82.27)	$ (3.31)	$ (140.13)
Weighted average common shares outstanding, basic (in Shares)	89,269	23,169	89,023	17,001
Weighted average common shares outstanding, diluted (in Shares)	89,269	23,169	89,023	17,001

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (294,721)	$ (2,382,388)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount	34,175	1,458,243
Loss on shares issued for legal settlement		78,104
Depreciation	1,771
Stock based compensation	16,139
Credit loss expense		35,200
Changes in operating assets and liabilities:
Accounts receivable	51,592	(74,700)
Prepaid expenses and other assets	(108,116)	(27,067)
Accounts payable and accrued liabilities	1,343	(9,013)
Deferred revenue	39,375	(134,833)
Net cash used in operating activities	(258,442)	(1,056,454)
Cash flows from investing activities:
Additions to intangible assets	(138,021)
Net cash used in investing activities:	(138,021)
Cash flows from financing activities:
Proceeds from loans payable, net		1,385,000
Payments on loans payable		(27,369)
Payments on shareholder advance		(67,622)
Proceeds from the exercise of warrants, net of costs	15,502
Net cash provided by financing activities	15,502	1,290,009
Net (decrease) increase in cash	(380,961)	233,555
Cash, beginning of period	1,644,439	106,654
Cash, end of period	1,263,478	340,209
Supplemental disclosures of cash flow information:
Cash paid for interest		73
Cash paid for income taxes
Non-cash investing and financing activities:
Shares issued for conversion of convertible loans and interest	42,857	1,596,122
Shares issued for accrued legal settlement		283,906
Warrants issued in conjunction with convertible loans		$ 1,385,000

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 1,263,478	$ 1,644,439
Accounts receivable, net	261,758	313,350
Prepaid expenses and other assets	173,743	65,627
Total current assets	1,698,979	2,023,416
Property and equipment, net	8,449	10,220
Intangible assets	158,040	20,019
Goodwill	5,842,433	5,842,433
Total assets	7,707,901	7,896,088
Current liabilities:
Accounts payable and accrued liabilities	427,669	433,469
Deferred revenue	198,125	158,750
Convertible loans payable, net of discounts - current portion		1,539
Total current liabilities	775,632	743,596
Total liabilities	775,632	743,596
Commitments and contingencies (Note 6)
Stockholders’ equity:
Series A Convertible Preferred stock, $0.001 par value; 900,000 shares authorized; 39,810 shares issued and outstanding	40	40
Common stock, $0.001 par value; 150,000,000 shares authorized; 89,268 and 88,309 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	89	88
Additional paid-in capital	42,647,036	42,572,539
Accumulated deficit	(35,714,896)	(35,420,175)
Total stockholders’ equity	6,932,269	7,152,492
Total liabilities and stockholders’ equity	7,707,901	7,896,088
Related Party
Current liabilities:
Accounts payable and accrued liabilities - related party	$ 149,838	$ 149,838