Complete Filing Data
LUDWIG ENTERPRISES, INC. reported Stockholders Equity of -$4.39 million for FY2025.
All values from 10-K, 20-F, and 10-Q filings on SEC EDGAR, organized by financial statement. Scroll each table horizontally for the full history. Blank cells mean LUDWIG ENTERPRISES, INC. did not report that metric for that period in XBRL — often because accounting standards changed which tag a company files under (for example, most companies moved revenue to the ASC-606 tag in 2018), so a metric may continue in a different row. Rows marked * merge those successor tags into one continuous series, preferring the audited value from the newest-standard tag where periods overlap.
Income Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Net Income * | -$2.2M | -$3.0M | -$2.5M | -$965.2K |
| Operating Income Loss | -$1.8M | -$1.3M | -$1.4M | $560.5K |
| Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest | -$2.2M | -$3.1M | -$2.4M | -$965.2K |
| Research And Development Expense | $231.6K | $165.6K | $411.0K | |
| General And Administrative Expense | $1.1M | $964.7K | ||
| Operating Expenses | $1.8M | $1.3M | $1.4M | |
| Nonoperating Income Expense | -$461.8K | -$1.8M | -$1.0M | |
| Interest Expense Nonoperating | $91.9K | $56.8K | ||
| Income Loss From Continuing Operations Per Basic Share | -$0.01 | -$0.02 | -$0.01 | |
| Income Loss From Continuing Operations | -$2.2M | -$3.1M | -$2.4M | |
| Income Loss From Continuing Operations Per Diluted Share | -$0.01 | -$0.02 | -$0.01 | |
| Revenues | $217.00 | |||
| Interest Expense | $15.7K | $14.1K | ||
| Income Loss From Discontinued Operations Net Of Tax | $34.8K | -$78.1K |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income * | $31.3K | -$649.4K | -$540.9K | -$885.9K | -$364.2K | -$1.6M | -$447.5K | -$583.4K | -$975.8K | -$304.0K | -$143.8K | -$87.5K |
| Operating Income Loss | -$371.4K | -$585.6K | -$524.9K | -$354.5K | -$301.3K | -$365.6K | -$195.6K | -$257.9K | $820.5K | $200.5K | ||
| Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest | $31.3K | -$649.4K | -$540.9K | -$749.1K | -$322.5K | -$1.6M | -$447.5K | -$583.4K | ||||
| Research And Development Expense | $80.3K | $76.1K | $74.2K | $42.1K | $71.6K | $34.5K | ||||||
| General And Administrative Expense | $291.0K | $509.6K | $450.7K | $312.6K | $229.8K | $365.6K | $161.1K | $273.8K | ||||
| Operating Expenses | $371.4K | $585.6K | $524.9K | $354.7K | $301.3K | $365.6K | ||||||
| Nonoperating Income Expense | $402.6K | -$63.8K | -$16.0K | -$394.6K | -$21.2K | -$1.2M | ||||||
| Interest Expense Nonoperating | $32.6K | $6.2K | $16.8K | $14.2K | ||||||||
| Income Loss From Continuing Operations Per Basic Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$0.01 | ||||||
| Income Loss From Continuing Operations | $31.3K | -$649.4K | -$540.9K | -$749.1K | -$322.5K | -$1.6M | ||||||
| Income Loss From Continuing Operations Per Diluted Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$0.01 | ||||||
| Revenues | $207.00 | $10.00 | ||||||||||
| Interest Expense | $16.8K | $14.2K | $7.6K | $4.0K | $2.6K | $2.6K | $2.6K | |||||
| Income Loss From Discontinued Operations Net Of Tax | -$136.8K | -$41.7K | -$32.5K |
Balance Sheet
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Stockholders Equity * | -$4.4M | -$2.4M | -$1.5M | -$826.2K | -$57.7K |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $6.7K | $108.3K | $516.2K | $125.0K | |
| Amortization Of Debt Discount Premium | $796.3K | $15.0K | $469.5K | ||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect | -$6.7K | -$101.6K | -$407.9K | ||
| Retained Earnings Accumulated Deficit | -$9.5M | -$7.3M | -$4.2M | -$1.8M | |
| Preferred Stock Value | $7.0K | $7.0K | $7.0K | $7.0K | |
| Liabilities Current | $4.6M | $2.6M | $1.6M | $1.3M | |
| Liabilities And Stockholders Equity | $247.5K | $197.6K | $112.5K | $516.2K | |
| Common Stock Value | $162.6K | $160.5K | $155.5K | $315.2K | |
| Assets Current | $238.4K | $197.6K | $112.5K | $516.2K | |
| Assets | $247.5K | $197.6K | $112.5K | $516.2K | |
| Liabilities | $4.6M | $2.6M | $1.6M | $1.3M | |
| Convertible Notes Payable Current | $1.2M | $578.7K | $828.3K | ||
| Other Notes Payable Current | $1.3M | $1.4M | $1.4M | ||
| Accounts Payable And Accrued Liabilities Current | $791.4K | $353.1K | $204.0K | $6.9K | |
| Deferred Offering Costs | $113.0K | $60.0K | |||
| Deferred Sales Inducements Amortization Expense | $1.0M | $517.5K | |||
| Inventory Net | $4.5K | $3.0K | |||
| Notes And Loans Receivable Net Current | $106.0K | $100.0K | |||
| Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction | $15.0K | ||||
| Amortization Of Debt Discount | $15.0K | $469.5K | -$435.1K | ||
| Gains Losses On Extinguishment Of Debt | -$117.2K | $44.5K | |||
| Repayments Of Convertible Debt | $55.0K | ||||
| Reclassification From Convertible Notes To Notes Payable | $640.0K | $507.1K |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stockholders Equity * | -$3.3M | -$3.4M | -$2.8M | -$2.3M | -$2.0M | -$1.6M | -$1.5M | -$1.3M | -$997.3K | -$1.3M | -$429.3K | -$149.4K | -$70.2K |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $3.3K | $142.5K | $16.6K | $43.4K | $201.9K | $345.5K | $6.6K | $85.8K | $288.3K | $4.7K | |||
| Amortization Of Debt Discount Premium | $197.3K | $115.1K | $7.0K | $8.0K | -$61.7K | -$152.7K | -$100.8K | ||||||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect | $9.8K | $237.1K | -$227.9K | ||||||||||
| Retained Earnings Accumulated Deficit | -$8.4M | -$8.4M | -$7.8M | -$7.1M | -$6.2M | -$5.9M | -$3.8M | ||||||
| Preferred Stock Value | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | ||||||
| Liabilities Current | $3.6M | $3.8M | $3.0M | $2.5M | $2.3M | $2.0M | $1.4M | ||||||
| Liabilities And Stockholders Equity | $261.6K | $401.3K | $252.9K | $136.9K | $246.2K | $349.6K | $10.8K | ||||||
| Common Stock Value | $162.6K | $161.6K | $161.6K | $159.9K | $159.0K | $155.5K | $323.6K | ||||||
| Assets Current | $252.8K | $400.7K | $252.9K | $136.9K | $246.2K | $349.6K | $10.8K | ||||||
| Assets | $261.6K | $401.3K | $252.9K | $136.9K | $246.2K | $349.6K | $10.8K | ||||||
| Liabilities | $3.6M | $3.8M | $3.0M | $2.5M | $2.3M | $2.0M | |||||||
| Convertible Notes Payable Current | $687.6K | $490.3K | $678.7K | $584.0K | $490.0K | $398.0K | $100.0K | $640.0K | |||||
| Other Notes Payable Current | $1.3M | $1.3M | $1.4M | $1.3M | $1.3M | ||||||||
| Accounts Payable And Accrued Liabilities Current | $1.3M | $1.1M | $899.8K | ||||||||||
| Deferred Offering Costs | $113.0K | $113.0K | $112.8K | $60.0K | |||||||||
| Deferred Sales Inducements Amortization Expense | |||||||||||||
| Inventory Net | $4.5K | $3.0K | $3.0K | ||||||||||
| Notes And Loans Receivable Net Current | $106.0K | $104.0K | $102.0K | ||||||||||
| Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction | $15.0K | ||||||||||||
| Amortization Of Debt Discount | $7.0K | $61.7K | $220.0K | ||||||||||
| Gains Losses On Extinguishment Of Debt | -$117.2K | ||||||||||||
| Repayments Of Convertible Debt | |||||||||||||
| Reclassification From Convertible Notes To Notes Payable |
Cash Flow Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Net Cash Provided By Used In Operating Activities | -$644.8K | -$660.3K | -$647.9K | -$444.8K |
| Net Cash Provided By Used In Financing Activities | $647.3K | $558.7K | $240.0K | $836.0K |
| Increase Decrease In Accounts Payable And Accrued Liabilities | $464.7K | $316.2K | $197.1K | $14.1K |
| Proceeds From Convertible Debt | $750.0K | $618.7K | $240.0K | |
| Increase Decrease In Prepaid Expense | -$12.9K | $23.6K | $4.1K | |
| Payments Of Stock Issuance Costs | $53.0K | $60.0K | ||
| Increase Decrease In Inventories | $1.5K | $3.0K | ||
| Proceeds From Related Party Debt | $61.0K | $5.0K | ||
| Proceeds From Issuance Of Convertible Preferred Stock | $240.0K | $830.0K | ||
| Proceeds From Cash Advance From Investor | $50.0K | |||
| Net Cash Provided By Used In Investing Activities | -$9.2K |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q1 2025 | Q1 2024 | Q1 2023 |
|---|---|---|---|
| Net Cash Provided By Used In Operating Activities | -$89.6K | -$102.9K | -$297.9K |
| Net Cash Provided By Used In Financing Activities | $99.4K | $340.0K | $70.0K |
| Increase Decrease In Accounts Payable And Accrued Liabilities | $277.8K | $75.1K | $2.7K |
| Proceeds From Convertible Debt | $100.0K | $290.0K | |
| Increase Decrease In Prepaid Expense | -$9.2K | ||
| Payments Of Stock Issuance Costs | $52.8K | ||
| Increase Decrease In Inventories | |||
| Proceeds From Related Party Debt | $52.2K | ||
| Proceeds From Issuance Of Convertible Preferred Stock | $290.0K | $70.0K | |
| Proceeds From Cash Advance From Investor | $50.0K | ||
| Net Cash Provided By Used In Investing Activities |
Per-Share & Share Counts
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Earnings Per Share Basic | $-0.01 | $-0.02 | $-0.01 | |
| Weighted Average Number Of Shares Outstanding Basic | 161.8M | 158.6M | ||
| Weighted Average Number Of Diluted Shares Outstanding | 161.8M | 158.6M | 286.6M | |
| Earnings Per Share Diluted | $-0.01 | $-0.02 | $-0.01 | |
| Preferred Stock Shares Issued | 7.0M | 7.0M | 7.0M | 7.0M |
| Preferred Stock Shares Outstanding | 7.0M | 7.0M | 7.0M | 7.0M |
| Preferred Stock Shares Authorized | 7.0M | 7.0M | 7.0M | 7.0M |
| Preferred Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 |
| Common Stock Shares Outstanding | 162.6M | 160.5M | 155.5M | 315.2M |
| Common Stock Shares Issued | 162.6M | 160.5M | 155.5M | 315.2M |
| Common Stock Shares Authorized | 1.25B | 1.25B | 1.25B | 1.25B |
| Common Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Issued Price Per Share | $0.25 | $0.37 |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|
| Earnings Per Share Basic | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-0.01 | $0.00 | $0.00 |
| Weighted Average Number Of Shares Outstanding Basic | 162.0M | 161.6M | 161.2M | 159.4M | 159.0M | 155.5M | 315.2M | 319.4M |
| Weighted Average Number Of Diluted Shares Outstanding | 862.0M | 161.6M | 161.2M | 159.4M | 159.0M | 155.5M | 315.2M | 319.4M |
| Earnings Per Share Diluted | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-0.01 | $0.00 | $0.00 |
| Preferred Stock Shares Issued | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | |
| Preferred Stock Shares Outstanding | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | |
| Preferred Stock Shares Authorized | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | |
| Preferred Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Common Stock Shares Outstanding | 162.6M | 161.6M | 161.6M | 159.9M | 159.0M | 155.5M | 323.6M | |
| Common Stock Shares Issued | 162.6M | 161.6M | 161.6M | 159.9M | 159.0M | 155.5M | 323.6M | |
| Common Stock Shares Authorized | 1.25B | 1.25B | 1.25B | 1.25B | 1.25B | 1.25B | 1.25B | |
| Common Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Shares Issued Price Per Share |
Other Metrics
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Stock Issued During Period Value Issued For Services | $226.4K | $317.8K | $258.7K | $91.5K |
| Additional Paid In Capital | $4.9M | $4.7M | $2.6M | $637.6K |
| Prepaid Expense Current | $14.9K | $27.8K | ||
| Labor And Related Expense | $1.0M | $517.5K | ||
| Stock Issued During Period Value New Issues | $100.8K | $370.0K | $6.0K | |
| Issuance Of Stock And Warrants For Services Or Claims | $226.4K | $317.8K | ||
| Interest Paid Net | $12.8K | $5.0K | ||
| Income Loss Attributable To Parent | -$1.5M | -$560.5K | ||
| Other Noncash Income Expense | ||||
| Stock Issued During Period Value Conversion Of Convertible Securities | $950.2K | |||
| Stock Issued For Services | $317.8K | $258.7K | -$91.5K | |
| Stock Issued During Period Shares New Issues | 500.0K | 1.0M | ||
| Investment Income Interest | $6.0K | |||
| Adjustment Of Warrants Granted For Services | $677.1K | |||
| Stock Issued For License Fee | $370.0K | |||
| Inducement Expense | $517.5K | |||
| Fair Value Adjustment Of Warrants | -$535.3K |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Issued During Period Value Issued For Services | $60.0K | $166.4K | $50.1K | $227.8K | $36.3K | $46.0K | $176.4K | $58.5K | ||||
| Additional Paid In Capital | $4.9M | $4.9M | $4.9M | $4.6M | $4.0M | $3.3M | $2.3M | |||||
| Prepaid Expense Current | $26.0K | $38.2K | $18.5K | $33.5K | $44.3K | $4.1K | $4.1K | $4.1K | ||||
| Labor And Related Expense | $377.8K | $520.0K | $186.2K | $102.9K | ||||||||
| Stock Issued During Period Value New Issues | $100.8K | $520.0K | $370.0K | $6.0K | ||||||||
| Issuance Of Stock And Warrants For Services Or Claims | $166.4K | $227.8K | ||||||||||
| Interest Paid Net | $5.0K | |||||||||||
| Income Loss Attributable To Parent | -$491.4K | -$343.0K | -$398.1K | -$195.6K | -$257.9K | -$820.5K | -$200.5K | |||||
| Other Noncash Income Expense | -$394.6K | -$21.2K | -$1.2M | -$251.9K | -$325.5K | -$155.3K | -$103.5K | |||||
| Stock Issued During Period Value Conversion Of Convertible Securities | $520.0K | $795.7K | ||||||||||
| Stock Issued For Services | $227.8K | $176.4K | ||||||||||
| Stock Issued During Period Shares New Issues | ||||||||||||
| Investment Income Interest | $2.0K | $2.0K | $2.0K | |||||||||
| Adjustment Of Warrants Granted For Services | $677.1K | |||||||||||
| Stock Issued For License Fee | $677.1K | $370.0K | ||||||||||
| Inducement Expense | $520.0K | |||||||||||
| Fair Value Adjustment Of Warrants | -$630.6K | -$172.7K |
Most recent annual filing with the SEC: March 16, 2026
Data sourced from SEC EDGAR public filings as of August 8, 2026.