$LUCY

Innovative Eyewear Inc

CIK:0001808377|SEC Filings

CONDENSED 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]
Revenues, net	$ 1,010,519	$ 579,230	$ 1,784,080	$ 1,033,731
Less: Cost of Goods Sold	(768,004)	(591,895)	(1,366,120)	(825,863)
Gross Profit	242,515	(12,665)	417,960	207,868
Operating Expenses:
General and administrative	(1,218,569)	(1,310,865)	(2,808,620)	(2,402,213)
Sales and marketing	(551,812)	(544,318)	(1,335,862)	(1,331,718)
Research and development	(142,093)	(268,224)	(280,202)	(478,800)
Related party management fee	(35,000)	(35,000)	(70,000)	(70,000)
Total Operating Expenses	(1,947,474)	(2,158,407)	(4,494,684)	(4,282,731)
Other Income (Expense), net	34,141	64,978	96,538	190,066
Net Loss	$ (1,670,818)	$ (2,106,094)	$ (3,980,186)	$ (3,884,797)
Weighted average number of shares outstanding, basic	6,405,240	3,214,790	6,326,031	2,836,222
Weighted average number of shares outstanding, diluted	6,405,240	3,214,790	6,326,031	2,836,222
Loss per share, basic	$ (0.26)	$ (0.66)	$ (0.63)	$ (1.37)
Loss per share, diluted	$ (0.26)	$ (0.66)	$ (0.63)	$ (1.37)

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net Loss	$ (3,980,186)	$ (3,884,797)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	19,984	38,370
Amortization	38,386	35,379
Interest income on debt securities (U.S. Treasury bills)	(10,604)	(10,943)
Realized gain on debt securities (U.S. Treasury bills)	(11,534)	(104,816)
Stock-based compensation	399,317	342,290
Nonemployee stock-based payment expense	9,540	12,923
Expenses paid by Tekcapital and Affiliates	123,833	140,816
Provision for doubtful accounts	8,187	7,745
Changes in operating assets and liabilities:
Accounts receivable	(2,437)	47,666
Accounts payable and accrued expenses	(511,513)	(285,440)
Prepaid expenses	(335,529)	(75,600)
Inventory prepayments	(18,285)	136,273
Inventory	(102,748)	(845,282)
Other assets	51,265	(18,684)
Contract assets and deferred revenue	(32,394)	36,547
Net cash flows from operating activities	(4,354,718)	(4,427,553)
Investing Activities
Purchases of debt securities (U.S. Treasury bills)	(2,565,836)	(1,274,320)
Proceeds from redemption of debt securities (U.S. Treasury bills)	1,300,000	5,000,000
Loans made to Tekcapital Europe, Ltd.		(250,000)
Repayment of amounts loaned to Tekcapital Europe, Ltd.	300,000	250,000
Patent costs	(106,348)	(19,120)
Purchases of property and equipment		(40,648)
Net cash flows from investing activities	(1,072,184)	3,665,912
Financing Activities
Proceeds from at-the-market offerings of common stock	1,411,455
Proceeds from exercises of warrants		5,694,619
Proceeds from sale of common stock withheld from employees to cover withholding taxes on vested restricted share units	34,010	27,424
Incurrence of obligation under long-term payment plan with vendor		121,059
Payments made under long-term payment plan with vendor	(24,453)	(20,177)
Repayment of amounts due to Tekcapital and Affiliates	(50,000)	(62,889)
Net cash flows from financing activities	1,371,012	5,760,036
Net Change in Cash and cash equivalents	(4,055,890)	4,998,395
Cash and cash equivalents at Beginning of Period	6,511,036	2,628,987
Cash and cash equivalents at End of Period	2,455,146	7,627,382
Significant Non-Cash Transactions
Expenses paid for by Tekcapital and Affiliates, reported as change in Due to/from Tekcapital and Affiliates	123,833	140,816
Issuance of shares for prepayment to brand ambassador		$ 30,001

CONDENSED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 2,455,146	$ 6,511,036
Investments	1,287,974
Accounts receivable, net	136,402	142,152
Prepaid expenses	591,759	263,730
Inventory prepayments	456,702	438,417
Inventory, net	1,772,410	1,745,136
Due from Tekcapital and Affiliates		334,582
Other current assets	85,240	60
Total Current Assets	6,785,633	9,435,113
Non-Current Assets
Intangible assets, net	627,930	559,968
Property and equipment, net	31,368	61,777
Other non-current assets	28,219	83,075
TOTAL ASSETS	7,473,150	10,139,933
Current Liabilities
Accounts payable and accrued expenses	497,489	985,417
Deferred revenue	19,871	59,889
Due to Tekcapital and Affiliates	45,366
Total Current Liabilities	562,726	1,045,306
Non-Current Liabilities
Long-term payment plan with vendor	4,035	28,488
Deferred revenue	7,624
TOTAL LIABILITIES	574,385	1,073,794
Commitments and contingencies (see Note 9)
Stockholders’ Equity
Common stock (par value $0.00001, 50,000,000 shares authorized: 6,405,728 and 5,479,861 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively)	64	55
Additional paid-in capital	43,206,006	41,393,203
Accumulated deficit	(36,307,305)	(32,327,119)
TOTAL STOCKHOLDERS’ EQUITY	6,898,765	9,066,139
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 7,473,150	$ 10,139,933