Ainos, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Ainos, Inc. filed its 2023 10-K, detailing financial performance, subsequent events including financing, and stock compensation plans.</b>

AI Summary

Ainos, Inc. (AIMDW) filed a Annual Report (10-K) with the SEC on March 8, 2024. Ainos, Inc. reported its 2023 fiscal year-end results on March 8, 2024. The company's primary business is in Pharmaceutical Preparations (SIC 2834). Key subsequent events include financing activities and private placements in early 2024. The filing details various stock-based compensation plans, including stock options, warrants, and RSUs. Sales of COVID-19 Antigen Rapid Test Kits were reported for 2022 and 2023.

Why It Matters

For investors and stakeholders tracking Ainos, Inc., this filing contains several important signals. The 10-K filing provides a comprehensive overview of Ainos, Inc.'s financial health and operational activities for the fiscal year ended December 31, 2023, crucial for investors assessing the company's current standing. Subsequent events, such as the Lind Financing and private placements in early 2024, indicate potential capital infusion and strategic financial maneuvers that could impact future operations and growth.

Risk Assessment

Risk Level: medium — Ainos, Inc. shows moderate risk based on this filing. The company's financial performance and operational details are presented in a standard 10-K filing, which typically contains forward-looking statements and risk factors that require careful investor due diligence.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Ainos, Inc.'s financial position and future prospects, paying close attention to subsequent financing events.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-08 — Filing Date (Date the 10-K was filed)
• 2834 — SIC Code (Standard Industrial Classification for Pharmaceutical Preparations)
• 2024-01-23 — Private Placement Date (Subsequent event date)
• 2024-01-30 — Financing Date (Subsequent event date)

Key Players & Entities

• Ainos, Inc. (company) — Filer name and business address
• 20231231 (date) — Conformed period of report
• 20240308 (date) — Filed as of date
• San Diego, CA (location) — Business and mail address
• 858-869-2986 (phone) — Business phone number
• AMARILLO BIOSCIENCES INC (company) — Former company name
• Lind Financing (financing) — Subsequent event
• COVID-19 Antigen Rapid Test Kits (product) — Sales category

FAQ

Risk Factors

• Financial Performance [medium — financial]: The filing details the company's financial performance for the fiscal year ended December 31, 2023, including revenue, net income, and other financial metrics.
• Regulatory Compliance [medium — regulatory]: As a pharmaceutical company, Ainos, Inc. is subject to various regulatory requirements and oversight from health authorities.
• Market Conditions [medium — market]: The company operates in the pharmaceutical and diagnostics market, which is subject to competitive pressures, technological advancements, and changing market demands.
• Operational Risks [medium — operational]: Risks related to product development, manufacturing, supply chain, and commercialization of its products are inherent to the company's operations.
• Subsequent Financing Events [medium — financial]: Recent financing activities and private placements in early 2024 present both opportunities and potential risks related to capital structure and dilution.

Key Financial Figures

• $0 — he registrant's common stock, par value $0.01, which is the only class of common o

Filing Documents

• aimd_10k.htm (10-K) — 1508KB
• aimd_ex94.htm (EX-9.4) — 15KB
• aimd_ex1025.htm (EX-10.25) — 57KB
• aimd_ex231.htm (EX-23.1) — 3KB
• aimd_ex241.htm (EX-24.1) — 12KB
• aimd_ex311.htm (EX-31.1) — 12KB
• aimd_ex312.htm (EX-31.2) — 12KB
• aimd_ex321.htm (EX-32.1) — 5KB
• aimd_ex322.htm (EX-32.2) — 4KB
• aimd_ex971.htm (EX-97.1) — 41KB
• aimd_ex1025img21.jpg (GRAPHIC) — 2KB
• aimd_10kimg2.jpg (GRAPHIC) — 4KB
• aimd_ex231img1.jpg (GRAPHIC) — 4KB
• aimd_ex1025img93.jpg (GRAPHIC) — 2KB
• aimd_ex1025img9.jpg (GRAPHIC) — 2KB
• aimd_ex1025img45.jpg (GRAPHIC) — 2KB
• aimd_ex1025img3.jpg (GRAPHIC) — 2KB
• aimd_ex1025img189.jpg (GRAPHIC) — 2KB
• 0001654954-24-002897.txt (&nbsp;) — 5970KB
• aimd-20231231.xsd (EX-101.SCH) — 63KB
• aimd-20231231_lab.xml (EX-101.LAB) — 355KB
• aimd-20231231_cal.xml (EX-101.CAL) — 51KB
• aimd-20231231_pre.xml (EX-101.PRE) — 284KB
• aimd-20231231_def.xml (EX-101.DEF) — 151KB
• aimd_10k_htm.xml (XML) — 670KB

BUSINESS

BUSINESS 3 ITEM 1A.

RISK FACTORS

RISK FACTORS 15 ITEM 1B. UNRESOLVED STAFF COMMENTS 38 ITEM 1C. CYBERSECURITY 38 ITEM 2. DESCRIPTION OF PROPERTY 39 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 39 ITEM 4. MINE SAFETY DISCLOSURES 39 PART II 40 ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY AND RELATED SHAREHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES 40 ITEM 6. [RESERVED] 41 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 41 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 47 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 47 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 47 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 47 ITEM 9B. OTHER INFORMATION 48 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 48 PART III 49 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE 49 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 52 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 55 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 57 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 58 PART IV 59 ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 59 ITEM 16. FORM 10-K SUMMARY 64 2 Table of Contents PART I The following contains forward-looking statements that involve risks and uncertainties. The Company's actual results could differ materially from those discussed in the forward-looking statements as a result of certain factors, including those discussed elsewhere in this Form 10-K. The following discussion should be read in conjunction with the Consolidated Financial Statements and the Notes thereto included elsewhere in this Form 10-K.

BUSINESS

ITEM 1. BUSINESS. Overview Ainos, Inc. (the "Company"), incorporated in the State of Texas in 1984, is a diversified healthcare company focused on the development of novel point-of-care testing (the "POCT"), therapeutics based on very low-dose interferon alpha (the "VELDONA"), and synthetic RNA-driven preventative medicine. Our product pipeline includes commercial-stage VELDONA Pet cytoprotein supplements, clinical-stage VELDONA human therapeutics and telehealth-friendly POCTs powered by the AI Nose technology platform. We have historically involved in the research and development of therapeutics based on VELDONA. Building on our research and development on VELDONA since inception, we are focused on commercializing a suite of VELDONA-based products including VELDONA Pet cytoprotein supplements and human related VELDONA therapeutics. In 2021 and 2022, we acquired certain types of intellectual property from controlling shareholder, Ainos Inc., a Cayman Island corporation ("Ainos KY"), to expand product portfolio into POCTs aimed to provide connected, rapid, and convenient testing for a broad range of health conditions. Pivoting from the sales of COVID-19 POCT, we aim to commercialize POCTs that detect volatile organic compounds (the "VOC") emitted by the body, powered by our AI Nose technology platform. Our lead VOC POCT candidate, Ainos Flora, aims to test female vaginal health and certain common sexually transmitted infections (the "STIs") quickly and easily. We believe the following attributes differentiate us from other diversified life science companies: - intuitive, telehealth-friendly point-of-care testing - AI-powered VOC testing platform - decades of proprietary low-dose oral interferon clinical research - capital-efficient business model - outsourced manufacturing - global distribution relationships Our Technologies VELDONA Interferons are proteins made by host cells in response to the presence of pathogens. Interferons allow for com

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View this 10-K filing on SEC EDGAR