Sigma Labs (NASDAQ: SGLB), a leading developer of in-process quality assurance software for the commercial 3D metal printing industry, on Thursday released its financial and operational results for the third quarter ended September 30, 2020. “The third quarter of 2020 was about execution and laying the foundation for a successful 2021, and we are very pleased to have made significant progress in each of the strategic initiatives that we established at the beginning of the year,” Mark K. Ruport, president and chief executive officer of Sigma Labs, said in the press release. “On the financial front, our balance sheet expanded during the third quarter by $3.5 million from the exercise of preferred warrants from our January 2020 private placement of convertible preferred stock and warrants. This, paired with a continued reduction in cash burn, has better positioned Sigma to weather any macro-economic storms that may arise over the coming months and extends our cash runway well into 2021.”
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About Sigma Labs Inc.
Sigma Labs is a leading provider of quality assurance software to the commercial 3D metal printing industry under the PrintRite3D(R) brand. Sigma specializes in the development and commercialization of real-time monitoring solutions known as PrintRite3D for 3D metal advanced manufacturing technologies. PrintRite3D detects and classifies defects and anomalies real-time during the manufacturing process and informs the production manager of quality issues. Sigma Labs believes its software product will be a major catalyst for the acceleration and adoption of 3D metal printing. For more information, please visit www.SigmaLabsInc.com.
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