BICX - BioCorRx posts wider Q1 loss raises going concern doubts

BioCorRx ([[BICX]]) posted a wider first-quarter net loss and said that it had "substantial doubt" about being able to continue as a going concern.The company believes that its current cash on hand will not be sufficient to fund its projected operating requirements for the next twelve months.Total net revenues for the three months ended March 31, fell to $10,124 from $ 36,895 in the prior-year period.The company's net loss widened to $1.58M compared with a net loss of $1.08M last year, primarily due to the lower grant income incurred in 2021.During the first quarter of 2021, the company recognized grant income of $90,232 as compared to $564,086 for the comparable period last year.Total operating expenses were $1.59M versus $1.55M last year.As of March 31, 2021, the company had cash of about $1.91M.BioCorRx will be dependent upon raising additional capital through placement of its shares in order to implement the company’s business

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BioCorRx posts wider Q1 loss, raises going concern doubts