Autonomix Medical Files 2024 10-K: Shares, Assets, Liabilities Detailed

Ticker: AMIX · Form: 10-K · Filed: May 31, 2024 · CIK: 1617867

Sentiment: neutral

Topics: financials, shares, assets, liabilities

TL;DR

Autonomix Medical's 2024 10-K shows $18.8M assets, $12.3M liabilities, and 500M shares authorized. Looks stable.

AI Summary

Autonomix Medical, Inc. filed its 10-K for the fiscal year ending March 31, 2024, reporting significant financial activities. The company's filing indicates a substantial number of authorized shares, with 500,000,000 shares of common stock authorized. Key financial figures include total assets of $18,846,094 and total liabilities of $12,336,571, resulting in a net equity of $6,509,523. The company also disclosed its use of a cashless exercise option for stock options.

Why It Matters

This filing provides a comprehensive overview of Autonomix Medical's financial health and structure as of March 31, 2024, crucial for investors assessing the company's stability and future prospects.

Risk Assessment

Risk Level: medium — The company has significant authorized shares and a notable amount of liabilities relative to assets, suggesting potential financial leverage and dilution risks.

Key Numbers

Key Players & Entities

FAQ

What is the total number of authorized shares of common stock for Autonomix Medical, Inc. as of March 31, 2024?

As of March 31, 2024, Autonomix Medical, Inc. had 500,000,000 shares of common stock authorized.

What were Autonomix Medical's total assets reported in the 2024 10-K filing?

The company reported total assets of $18,846,094 for the fiscal year ended March 31, 2024.

What were Autonomix Medical's total liabilities reported in the 2024 10-K filing?

The company reported total liabilities of $12,336,571 for the fiscal year ended March 31, 2024.

How did Autonomix Medical handle the exercise of its stock options?

The filing states that all exercised shares utilized the 'cashless exercise' option.

What was the initial discount rate basis for Autonomix Medical's equity securities?

The initial discount rate was chosen based on private equity rates of return as described in the AICPA Practice Aid on Valuation of Privately-Held-Company Equity securities issued as compensation.

Filing Stats: 4,578 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-05-31 16:56:43

Key Financial Figures

Filing Documents

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 20 Item 1B. Unresolved Staff Comments 35 Item 1C. Cybersecurity 35 Item 2.

Properties

Properties 36 Item 3.

Legal Proceedings

Legal Proceedings 37 Item 4. Mine Safety Disclosures 37 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 38 Item 6. Reserved 38 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 38 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 44 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 44 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 61 Item 9A.

Controls and Procedures

Controls and Procedures 61 Item 9B. Other Information 62 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 62 PART III 63 Item 10. Directors, Executive Officers and Corporate Governance 63 Item 11.

Executive Compensation

Executive Compensation 63 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 63 Item 13. Certain Relationships and Related Transactions and Director Independence 63 Item 14. Principal Accounting Fees and Services 63 PART IV 64 Item 15. Exhibits, Financial Statement Schedules 64 Item 16. Form 10-K Summary 65 2 Table of Contents References in this Annual Report on Form 10-K to " we," " us," " its," " our " or the " Company " are to Autonomix Medical, Inc. ( " Autonomix " ), as appropriate to the context. Cautionary Statement About Forward-Looking Statements This Annual Report on Form 10-K (including the section regarding Management's Discussion and Analysis of Financial Condition and Results of Operations, the Annual Report) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. In some cases, you can identify these statements by forward-looking words such as "may," "might," "should," "would," "could," "will", "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "seek", "contemplate", "project", "potential", "continue", or "ongoing" and the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. In particular, you should c

Forward-looking statements include, but are not limited to, statements about

Forward-looking statements include, but are not limited to, statements about: our ability to continue as a going concern in the near term is dependent upon us successfully raising additional equity or debt financing to fund our operations; the success of our future clinical trials; we currently have no source of product sales revenue; competition from existing products or new products that may emerge; if we fail to comply with U.S. and foreign regulatory requirements, regulatory authorities could limit or withdraw any marketing or commercialization approvals we may receive and subject us to other penalties that could materially harm our business; we may be unable to obtain U.S. or foreign regulatory approval and, as a result, unable to commercialize our product candidates; the implementation of our business model and strategic plans for our business, technologies and product candidates; potential product liability claims; our dependency on third-party supply and manufacturing partners to supply the materials and components for, and manufacture, our research and development, preclinical and clinical trial devices; our ability to establish or maintain collaborations, licensing or other arrangements and retain commercial rights for our product candidates subject to collaborations; our ability and third parties' abilities to protect intellectual property rights and our ability to operate our business without infringing the intellectual property rights of others; our ability to adequately support future growth; our estimates of our expenses, ongoing losses, future revenue and capital requirements; our ability to attract and retain key management personnel and technical personnel to manage our business effectively; risks associated with our identification of material weaknesses in our control over financial reporting; our use of net proceeds received by us from any subsequent private placement or public financing; natural disasters affecting us, our prim

Business

Item 1. Business Overview We are a development stage medical device development company focused on advancing innovative technologies for sensing and treating disorders relating to the nervous system. Our first-in-class technology platform includes a catheter-based microchip-enabled sensing array that can detect and differentiate neural signals with a high degree of sensitivity as demonstrated in animal studies. We are initially developing our technology for patients with pancreatic cancer, a condition that can cause debilitating pain and needs a more effective solution. However, we believe our technology constitutes a platform with the potential to address dozens of indications in a range of areas including chronic pain management from all causes, hypertension, cardiovascular disease and a wide range of other nerve-related disorders. We calculate sensitivity in units of minimum signal detection voltage in micro volts (uV) time area of the electrode (square millimeters). It is a combined measure that is related to the signal resolving power and spatial resolution of the system. For the BSC Orion, the nearest device on the market, the metrics are 10uV for signal detection levels, and roughly 0.4mm by 0.5mm for the electrode dimensions. For the Autonomix device, the metrics are <1uV for signal detection levels and roughly 0.02mm by 0.03mm for the electrode dimensions. The differences in these metrics result in a calculation of 3,000 times greater sensitivity for the Autonomix device. We believe, if we can recreate these results in clinical trials, this will enable a method of transvascular targeting, treating, and confirming treatment of diseases involving the nervous system throughout the body that is not currently available and may be capable of filling a wide range of unmet medical needs. Our development efforts can be divided into to two sub parts : d iagnostic and therapeutic, where diagnostic is focused on sensing and identifying neuronal activity that may

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