$NWTG

Newton Golf Company, Inc.

CIK:0001934245|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]
Net Sales	$ 1,316,000	$ 2,068,000	$ 2,307,000	$ 3,278,000
Cost of goods sold	405,000	669,000	768,000	1,027,000
Gross profit	911,000	1,399,000	1,539,000	2,251,000
Operating expenses
Selling, general and administrative expenses	2,103,000	2,763,000	4,998,000	5,304,000
Research and development	348,000	143,000	696,000	425,000
Total operating expenses	2,451,000	2,906,000	5,694,000	5,729,000
Loss from operations	(1,540,000)	(1,507,000)	(4,155,000)	(3,478,000)
Interest (expense) income, net	(43,000)	29,000	(45,000)	74,000
Amortization of debt discount	(35,000)		(37,000)
Loss on disposal of asset	(16,000)		(16,000)
Change in fair value of warrant liabilities	(644,000)	(42,000)	(684,000)	1,359,000
Net loss	$ (2,278,000)	$ (1,520,000)	$ (4,937,000)	$ (2,045,000)
Loss per share, basic	$ (0.49)	$ (0.34)	$ (1.07)	$ (0.74)
Loss per share, dilued	$ (0.49)	$ (0.34)	$ (1.07)	$ (0.74)
Weighted average common shares outstanding, basic	4,606,137	4,509,619	4,599,535	2,778,595
Weighted average common shares outstanding, diluted	4,606,137	4,509,619	4,599,535	2,778,595

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net Loss	$ (4,937,000)	$ (2,045,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	163,000	140,000
Amortization of deferred software licensing agreement	17,000	17,000
Amortization of pre-paid consulting	153,000
Amortization of debt discount	37,000
Change in reserve for inventory obsolescence	(14,000)	38,000
Loss on disposal of assets	16,000
Change in fair value of warrants loss (gain)	684,000	(1,359,000)
Changes in ROU asset	19,000	17,000
Stock based compensation - expense	279,000	94,000
Changes in operating assets and liabilities
Accounts receivable	(210,000)	(47,000)
Inventory	(18,000)	(160,000)
Prepaids and other current assets	35,000	(31,000)
Accounts payable and accrued expenses	805,000	419,000
Lease liability	(19,000)	(17,000)
Customer deposits	175,000	157,000
Net cash used in operating activities	(2,815,000)	(2,777,000)
Cash Flows from Investing Activities
Purchase of property and equipment	(169,000)	(291,000)
Net cash used in investing activities	(169,000)	(291,000)
Cash Flows from Financing Activities
Software licensing obligation	(27,000)	(28,000)
Convertible debt, net	2,200,000
Offering costs	(45,000)
Repurchase of common stock		(500,000)
Proceeds from over-allotment, net		(49,000)
Net cash provided by (used in) financing activities	2,128,000	(577,000)
Net decrease in cash	(856,000)	(3,645,000)
Cash and cash equivalents beginning of period	1,298,000	7,650,000
Cash and cash equivalents end of period	442,000	4,005,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Exercise of cashless warrants		12,067,000
Fair value of warrants issued accounted as debt discount	234,000
Recognition of Right of Use Asset and lease obligations		$ 85,000

Condensed Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 442,000	$ 1,298,000
Accounts receivable, net of allowance for doubtful accounts of $69,000 and $69,000, respectively	312,000	102,000
Inventory, net of reserve for obsolescence of $121,000 and $135,000, respectively	406,000	374,000
Prepaid expenses and other current assets	226,000	413,000
Total Current Assets	1,386,000	2,187,000
Property and equipment, net	862,000	880,000
Right-of-use asset, net	65,000	84,000
Software licensing agreement, net	8,000	25,000
Deferred offering costs	168,000	123,000
Total Assets	2,489,000	3,299,000
Current Liabilities:
Accounts payable and accrued expenses	2,227,000	1,428,000
Customer deposits	250,000	75,000
Lease liability, current	42,000	40,000
Software licensing obligation, current	14,000	41,000
Warrant liability	1,429,000	745,000
Total Current Liabilities	3,962,000	2,329,000
Lease obligations – noncurrent	23,000	44,000
Total Liabilities	5,988,000	2,373,000
Commitments and Contingencies
Stockholders’ Equity (Deficiency):
Preferred stock $.01 par value, 5,000,000 shares authorized, no shares issued and outstanding, respectively
Common stock, $.01 par value, 45,000,000 shares authorized, 4,670,396 and 4,592,063 shares issued and outstanding, respectively	47,000	45,000
Additional paid-in-capital	29,480,000	28,970,000
Accumulated deficit	(33,026,000)	(28,089,000)
Total Stockholders’ (Deficiency) Equity	(3,499,000)	926,000
Total Liabilities and Stockholders’ (Deficiency) Equity	2,489,000	3,299,000
Nonrelated Party [Member]
Current Liabilities:
Convertible debt	1,562,000
Related Party [Member]
Current Liabilities:
Convertible debt	$ 441,000