LIPOCINE INC.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Sep 2025 | Jun 2025 | Mar 2025 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-2.6M | $-3.7M | $-3.2M | $-2.2M | $-1.9M | $-2.2M | $-3.1M | $3.5M |
| Depreciation & Amortization | — | $14.8K | — | — | $15.6K | — | — | $8.5K |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $58.1K | $65.4K | $53.3K | $65.2K | $71.0K | $107.9K | $102.3K | $99.3K |
| Net Cash from Operating Activities | $-3.0M | $-2.3M | $-3.0M | $-1.9M | $-2.0M | $-2.8M | $-2.5M | $2.4M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | — | $-9.9M | — | — | $-882.1K | — | — | $-4.1M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | $8.1K |
| Net Cash from Financing Activities | — | $12.0M | — | — | — | — | — | $-8.1K |
| Net Change in Cash | — | $-190.2K | — | — | $-2.9M | — | — | $-1.7M |
| Free Cash Flow | — | — | — | — | — | — | — | — |