BioTricity Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>BioTricity Inc. filed its Q3 2024 10-Q report, detailing financial performance and corporate information.</b>

AI Summary

BIOTRICITY INC. (BTCY) filed a Quarterly Report (10-Q) with the SEC on February 20, 2024. BioTricity Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on March 31st. BioTricity Inc. was formerly known as MetaSolutions, Inc. until January 7, 2015. The company is incorporated in Nevada and headquartered in Redwood City, California.

Why It Matters

For investors and stakeholders tracking BIOTRICITY INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of BioTricity Inc., crucial for understanding its performance and financial health. The report details the company's financial position as of December 31, 2023, offering insights into its operational progress and any changes since the last filing.

Risk Assessment

Risk Level: low — BIOTRICITY INC. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new risks or material changes.

Analyst Insight

Monitor future 10-Q filings for revenue growth, net income trends, and any updates on product development or market penetration.

Key Numbers

• 20231231 — Reporting Period End Date (Conformed period of report)
• 20240220 — Filing Date (Filed as of date)
• 0331 — Fiscal Year End (Fiscal year end)
• 001-40761 — SEC File Number (SEC file number)

Key Players & Entities

• BIOTRICITY INC. (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240220 (date) — Filed as of date
• METASOLUTIONS, INC. (company) — Former company name
• 20150107 (date) — Date of name change
• 203 REDWOOD PARKWAY SUITE 600 (address) — Business address
• Redwood City, CA (location) — Business address city and state
• 472548273 (identifier) — IRS number

FAQ

Industry Context

BioTricity Inc. operates in the medical devices sector, specifically focusing on remote patient monitoring and wearable technology.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including requirements for timely and accurate financial reporting.

What Investors Should Do

1. Analyze the full 10-Q document for detailed financial statements and management discussion.
2. Compare the reported figures with previous quarters and the same period last year.
3. Research any specific disclosures or risk factors mentioned in the full filing.

Year-Over-Year Comparison

This filing is a standard 10-Q for the period ending December 31, 2023. Specific comparative data from the previous filing is not detailed in this header information.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share BTCY The NASDAQ Stock Mar

Filing Documents

• form10-q.htm (10-Q) — 1423KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 16KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-007244.txt (&nbsp;) — 7656KB
• btcy-20231231.xsd (EX-101.SCH) — 55KB
• btcy-20231231_cal.xml (EX-101.CAL) — 59KB
• btcy-20231231_def.xml (EX-101.DEF) — 288KB
• btcy-20231231_lab.xml (EX-101.LAB) — 444KB
• btcy-20231231_pre.xml (EX-101.PRE) — 376KB
• form10-q_htm.xml (XML) — 1227KB

– Financial Information

Part I – Financial Information

– Condensed Consolidated Financial Statements

Item 1 – Condensed Consolidated Financial Statements 3

– 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 36

– Quantitative and Qualitative Disclosures About Market Risk

Item 3 – Quantitative and Qualitative Disclosures About Market Risk 48

– Controls and Procedures

Item 4 – Controls and Procedures 48

– Other Information

Part II – Other Information 49

– Legal Proceedings

Item 1 – Legal Proceedings 4 9

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 49

– Defaults Upon Senior Securities

Item 3 – Defaults Upon Senior Securities 49

– Mine Safety Disclosures

Item 4 – Mine Safety Disclosures 49

– Other Information

Item 5 – Other Information 49

– Exhibits

Item 6 – Exhibits 49

Signatures

Signatures 50 2 PART 1 FINANCIAL INFORMATION Item 1 – Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of December 31, 2023 (unaudited) and March 31, 2023 (audited) 4 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended December 31, 2023 and 2022 (unaudited) 5 Condensed Consolidated Statements of Stockholders' Deficiency for the three and nine months ended December 31, 2023 and 2022 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2023 and 2022 (unaudited) 10 Notes to the Condensed Consolidated Financial Statements 11 3 BIOTRICITY INC. CONDENSED CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2023 (unaudited) AND MARCH 31, 2023 (audited) (Expressed in US Dollars) As of December 31, 2023 As of March 31, 2023 $ $ CURRENT ASSETS Cash 85,094 570,460 Accounts receivable, net 1,573,583 1,224,137 Inventories [Note 3] 2,048,910 2,337,006 Deposits and other receivables 224,895 588,599 Total current assets 3,932,482 4,720,202 Deposits [Note 10] 85,000 85,000 Long-term accounts receivable 135,560 96,344 Property and equipment [Note 12] 17,041 21,506 Operating right of use assets [Note 10] 1,316,135 1,587,492 TOTAL ASSETS 5,486,218 6,510,544 CURRENT LIABILITIES Accounts payable and accrued liabilities [Note 4] 7,558,745 5,042,476 Convertible promissory notes and short term loans [Note 5] 7,922,097 4,774,468 Term loan, current [Note 6] 1,800,000 — Derivative liabilities [Note 8] 928,333 1,008,216 Operating lease obligations, current [Note 10] 409,702 335,608 Total current liabilities 18,618,877 11,160,768 Federally guaranteed loans [Note 7] 870,800 870,800 Term loan [Note 6] 10,533,425 12,178,809 Derivative liabilities [Note 8] 1,139,293 759,065 Operating lease obligations [Note 10] 1,051,321 1,386,487 TOTAL LIAB

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View this 10-Q filing on SEC EDGAR