Applied DNA Sciences Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Applied DNA Sciences Inc. filed its 10-Q for Q3 FY2023, detailing financial positions and segment revenues.</b>

AI Summary

APPLIED DNA SCIENCES INC (BNBX) filed a Quarterly Report (10-Q) with the SEC on February 8, 2024. Applied DNA Sciences Inc. reported its 10-Q filing for the period ending December 31, 2023. The filing covers the fiscal quarter from October 1, 2023, to December 31, 2023. Key financial statement items such as Common Stock, Retained Earnings, Noncontrolling Interest, and Additional Paid-In Capital are detailed as of December 31, 2023, and September 30, 2023. The company's operating segments include Therapeutic DNA Production (Service), DNA Tagging and Security Products (Service and Product), and MDx Testing Services (Clinical Laboratory Service Revenues). Subsequent events include details regarding Private Common Warrants as of January 31, 2024.

Why It Matters

For investors and stakeholders tracking APPLIED DNA SCIENCES INC, this filing contains several important signals. This filing provides investors with the latest financial performance and position of Applied DNA Sciences Inc. for the specified quarterly period. Understanding the segment revenues and financial statement details is crucial for assessing the company's operational performance and financial health.

Risk Assessment

Risk Level: medium — APPLIED DNA SCIENCES INC shows moderate risk based on this filing. The company's financial health and operational performance are subject to the inherent risks of a biotechnology and security solutions company, including market acceptance, regulatory changes, and competition, as detailed in their filings.

Analyst Insight

Investors should review the detailed segment revenues and financial statement changes to assess the company's growth trajectory and profitability.

Revenue Breakdown

Key Numbers

• 20231231 — Period End Date (Conformed Period of Report)
• 20240208 — Filing Date (Filed As Of Date)
• 2023-10-01 — Quarter Start Date (Reporting period for Q1)
• 2023-12-31 — Quarter End Date (Reporting period for Q1)
• 2024-01-31 — Subsequent Event Date (Date for Private Common Warrants)

Key Players & Entities

• APPLIED DNA SCIENCES INC (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240208 (date) — Filed as of date
• 0000744452 (company) — Central Index Key
• 8734 (industry) — Standard Industrial Classification
• DE (jurisdiction) — State of incorporation
• 0930 (date) — Fiscal year end
• 1934 Act (regulation) — SEC Act

FAQ

Key Dates

• 2023-12-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-02-08: Filing Date — Date the 10-Q was officially filed with the SEC.

Key Financial Figures

• $0.001 — ge on which registered Common Stock, $0.001 par value APDN The Nasdaq Stock Mar

Filing Documents

• apdn-20231231x10q.htm (10-Q) — 1122KB
• apdn-20231231xex10d3.htm (EX-10.3) — 17KB
• apdn-20231231xex31d1.htm (EX-31.1) — 12KB
• apdn-20231231xex31d2.htm (EX-31.2) — 12KB
• apdn-20231231xex32d1.htm (EX-32.1) — 6KB
• apdn-20231231xex32d2.htm (EX-32.2) — 6KB
• apdn-20231231xex10d3001.jpg (GRAPHIC) — 8KB
• apdn-20231231xex10d3002.jpg (GRAPHIC) — 1KB
• 0001410578-24-000021.txt (&nbsp;) — 5204KB
• apdn-20231231.xsd (EX-101.SCH) — 39KB
• apdn-20231231_cal.xml (EX-101.CAL) — 36KB
• apdn-20231231_def.xml (EX-101.DEF) — 171KB
• apdn-20231231_lab.xml (EX-101.LAB) — 303KB
• apdn-20231231_pre.xml (EX-101.PRE) — 246KB
• apdn-20231231x10q_htm.xml (XML) — 824KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

- Condensed Consolidated Financial Statements (unaudited)

Item 1 - Condensed Consolidated Financial Statements (unaudited) 1

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

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 18

- Quantitative and Qualitative Disclosures About Market Risk

Item 3 - Quantitative and Qualitative Disclosures About Market Risk 29

- Controls and Procedures

Item 4 - Controls and Procedures 29

- OTHER INFORMATION

PART II - OTHER INFORMATION

– Legal Proceedings

Item 1 – Legal Proceedings 30

– Risk Factors

Item 1A – Risk Factors 30

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 30

– Defaults Upon Senior Securities

Item 3 – Defaults Upon Senior Securities 30

– Mine Safety Disclosures

Item 4 – Mine Safety Disclosures 30

– Other Information

Item 5 – Other Information 30

– Exhibits

Item 6 – Exhibits 31 Table of Contents

- Financial Information

Part I - Financial Information

- Financial Statements

Item 1 - Financial Statements APPLIED DNA SCIENCES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS December 31, September 30, 2023 2023 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 3,359,045 $ 7,151,800 Accounts receivable, net of allowance of $ 75,000 at December 31, 2023 and September 30, 2023, respectively 450,757 255,502 Inventories 377,291 330,027 Prepaid expenses and other current assets 402,953 389,241 Total current assets 4,590,046 8,126,570 Property and equipment, net 539,319 838,270 Other assets: Restricted cash 750,000 750,000 Intangible assets 2,698,975 2,698,975 Operating right of use asset 1,117,317 1,237,762 Capitalized transaction costs 217,553 — Total assets $ 9,913,210 $ 13,651,577 LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued liabilities $ 2,023,876 $ 2,270,388 Operating lease liability, current 510,028 498,598 Deferred revenue 54,035 76,435 Total current liabilities 2,587,939 2,845,421 Long term accrued liabilities 31,467 31,467 Deferred revenue, long term 227,999 194,000 Operating lease liability, long term 607,288 739,162 Deferred tax liability, net 684,115 684,115 Warrants classified as a liability 1,646,000 4,285,000 Total liabilities 5,784,808 8,779,165 Commitments and contingencies (Note G) Applied DNA Sciences, Inc. stockholders' equity: Preferred stock, par value $ 0.001 per share; 10,000,000 shares authorized; - 0 - shares issued and outstanding as of December 31, 2023 and September 30 2023, respectively — — Series A Preferred stock, par value $ 0.001 per share; 10,000,000 shares authorized; - 0 - issued and outstanding as of December 31, 2023 and September 30, 2023, respectively — — Series B Preferred stock, par value $ 0.001 per share; 10,000,000 shares authorized; - 0 - issued and outstanding as of December 31, 2023 and September 30,

View Full Filing

View this 10-Q filing on SEC EDGAR