Alzamend Neuro, Inc. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Alzamend Neuro, Inc. filed its quarterly report (10-Q) for the period ending January 31, 2024, detailing its financial status and business operations.</b>

AI Summary

Alzamend Neuro, Inc. (ALZN) filed a Quarterly Report (10-Q) with the SEC on March 25, 2024. Alzamend Neuro, Inc. filed a 10-Q report for the period ending January 31, 2024. The company's fiscal year ends on April 30. The filing was made on March 25, 2024. The SIC code for Alzamend Neuro, Inc. is 2834 (Pharmaceutical Preparations). The company's business and mailing address is 3500 Lenox Rd. NE, Suite 1500, Atlanta, GA 30326.

Why It Matters

For investors and stakeholders tracking Alzamend Neuro, Inc., this filing contains several important signals. This 10-Q filing provides investors with an update on Alzamend Neuro's financial performance and operational activities for the third quarter of its fiscal year. Understanding the details within this report is crucial for assessing the company's progress in its pharmaceutical development and its overall financial health.

Risk Assessment

Risk Level: medium — Alzamend Neuro, Inc. shows moderate risk based on this filing. The company is in the pharmaceutical preparations industry, which is subject to significant regulatory hurdles, lengthy development cycles, and high R&D costs, posing inherent risks to financial performance and market success.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to understand Alzamend Neuro's current financial position and future prospects.

Key Numbers

• 2024-01-31 — Period End Date (Quarterly report)
• 2024-03-25 — Filing Date (10-Q submission)
• 0430 — Fiscal Year End (Company's fiscal year)
• 2834 — SIC Code (Pharmaceutical Preparations)

Key Players & Entities

• Alzamend Neuro, Inc. (company) — Filer
• 2024-01-31 (date) — Period of report
• 2024-03-25 (date) — Filed as of date
• 2834 (industry_code) — Standard Industrial Classification
• 3500 LENOX RD. NE (address) — Business street 1
• ATLANTA (city) — Business city
• GA (state) — Business state
• 30326 (zip_code) — Business zip

FAQ

Industry Context

Alzamend Neuro operates in the pharmaceutical preparations industry, focusing on the development of treatments for neurological and psychiatric disorders.

Regulatory Implications

As a pharmaceutical company, Alzamend Neuro is subject to stringent regulations from bodies like the FDA regarding drug development, testing, and approval processes.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and cash flow.
2. Review any disclosed risk factors related to drug development and regulatory approval.
3. Compare key financial metrics to previous periods to identify trends.

Key Dates

• 2024-01-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-03-25: Filing Date — Date Alzamend Neuro, Inc. submitted its 10-Q report.

Year-Over-Year Comparison

This filing is a 10-Q for the period ending January 31, 2024, providing an update from previous filings.

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share ALZN NASDAQ Capit
• $0 — 024 and 2023, with an exercise price of $0.006, from its anti-dilutive securities
• $22.50 — tal purchase price of $ 15,000,000 , or $22.50 per share with 333,333 warrants with a
• $15,000,000 — Warrants"). The total purchase price of $15,000,000 was in the form of a non-interest beari

Filing Documents

• az3424010q.htm (10-Q) — 823KB
• ex31_1.htm (EX-31.1) — 8KB
• ex31_2.htm (EX-31.2) — 8KB
• ex32_1.htm (EX-32.1) — 5KB
• 0001214659-24-005088.txt (&nbsp;) — 3932KB
• alzm-20240131.xsd (EX-101.SCH) — 38KB
• alzm-20240131_cal.xml (EX-101.CAL) — 32KB
• alzm-20240131_def.xml (EX-101.DEF) — 135KB
• alzm-20240131_lab.xml (EX-101.LAB) — 268KB
• alzm-20240131_pre.xml (EX-101.PRE) — 215KB
• az3424010q_htm.xml (XML) — 521KB

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Balance Sheets 3 Condensed Statements of Operations 4 Condensed Statements of Stockholders' (Deficit) Equity 5 Condensed Statements of Cash Flows 9 Notes to Condensed Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33 PART II. OTHER INFORMATION 35 Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3. Defaults Upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 35 Item 6. Exhibits 36

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Alzamend Neuro, Inc. Condensed Balance Sheets (Unaudited) January 31, 2024 April 30, 2023 ASSETS CURRENT ASSETS Cash $ 282,867 $ 5,140,859 Prepaid expenses and other current assets 310,738 447,589 Prepaid expenses - related party - 247,334 TOTAL CURRENT ASSETS 593,605 5,835,782 Property, plant and equipment, net 189,031 79,843 TOTAL ASSETS $ 782,636 $ 5,915,625 LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 3,826,457 $ 2,870,122 TOTAL CURRENT LIABILITIES 3,826,457 2,870,122 LONG-TERM LIABILITIES Warrant liability 742,263 - TOTAL LIABILITIES 4,568,720 2,870,122 COMMITMENTS AND CONTINGENCIES MEZZANINE EQUITY Series B Convertible Preferred Stock, $ 0.0001 shares designated; 1,220 and nil 0 issued and outstanding as of January 31, 2024 and April 30, 2023, respectively 477,737 - STOCKHOLDERS' (DEFICIT) EQUITY Series A Convertible Preferred Stock, $ 0.0001 shares designated; nil 0 issued and outstanding as of January 31, 2024 and April 30, 2023 - - Common stock, $ 0.0001 par value: 300,000,000 shares authorized; 6,618,766 and 6,462,675 issued and outstanding as of January 31, 2024 and April 30, 2023, respectively 662 646 Additional paid-in capital 48,974,396 62,000,814 Note receivable for common stock – related party - ( 14,883,295 ) Subscription receivable for preferred stock – related party ( 70,000 ) - Accumulated deficit ( 53,168,879 ) ( 44,072,662 ) TOTAL STOCKHOLDERS' (DEFICIT) EQUITY ( 4,263,821 ) 3,045,503 TOTAL LIABILITIES MEZZANINE AND STOCKHOLDERS' (DEFICIT) EQUITY $ 782,636 $ 5,915,625 The accompanying notes are an integral part of these unaudited condensed financial statements. 3 Alzamend Neuro, Inc. Condensed Statements of Operations (Unaudited) For the Three Months Ended January 31, For

View Full Filing

View this 10-Q filing on SEC EDGAR