BioTricity Inc. Files 10-Q for Q2 2024
Ticker: BTCY · Form: 10-Q · Filed: Aug 19, 2024 · CIK: 1630113
Sentiment: neutral
Topics: 10-Q, financials, medical-devices
TL;DR
BioTricity filed its 10-Q for June 30, 2024. Check financials.
AI Summary
BioTricity Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The company, formerly known as MetaSolutions, Inc., is based in Redwood City, CA, and operates in the surgical and medical instruments sector. Key financial details and stock information are included in this filing.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational status of BioTricity Inc., crucial for understanding its market position and future prospects.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information, but the specific risk level depends on the underlying financial performance and market conditions not fully detailed in this header.
Key Numbers
- 0331 — Fiscal Year End (Indicates the end of the company's fiscal year.)
- 20240630 — Report Period End (The end date for the financial reporting period covered by the 10-Q.)
- 20240819 — Filing Date (The date the 10-Q was officially filed with the SEC.)
Key Players & Entities
- BIOTRICITY INC. (company) — Filer
- METASOLUTIONS, INC. (company) — Former Company Name
- 203 REDWOOD PARKWAY, SUITE 600, REDWOOD CITY, CA 94065 (location) — Business and Mail Address
- 0001630113 (company_id) — Central Index Key
- 472548273 (tax_id) — IRS Number
- 20240630 (date) — Period of Report End Date
- 20240819 (date) — Filing Date
FAQ
What is the primary business of BioTricity Inc.?
BioTricity Inc. operates in the Surgical & Medical Instruments & Apparatus industry, as indicated by its SIC code 3841.
When was BioTricity Inc. previously known by another name?
The company was formerly known as METASOLUTIONS, INC., with a date of name change on January 7, 2015.
What is the fiscal year end for BioTricity Inc.?
The company's fiscal year ends on March 31 (0331).
What is the filing date of this 10-Q report?
This 10-Q report was filed on August 19, 2024.
Where is BioTricity Inc. headquartered?
BioTricity Inc. is located at 203 Redwood Parkway, Suite 600, Redwood City, CA 94065.
Filing Stats: 4,443 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-08-19 17:24:17
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share BTCY OTCQB Indicate the
Filing Documents
- form10-q.htm (10-Q) — 1288KB
- ex31-1.htm (EX-31.1) — 19KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 8KB
- ex32-2.htm (EX-32.2) — 8KB
- 0001493152-24-033159.txt ( ) — 7701KB
- btcy-20240630.xsd (EX-101.SCH) — 54KB
- btcy-20240630_cal.xml (EX-101.CAL) — 55KB
- btcy-20240630_def.xml (EX-101.DEF) — 279KB
- btcy-20240630_lab.xml (EX-101.LAB) — 456KB
- btcy-20240630_pre.xml (EX-101.PRE) — 362KB
- form10-q_htm.xml (XML) — 1262KB
– 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 37
– Quantitative and Qualitative Disclosures About Market Risk
Item 3 – Quantitative and Qualitative Disclosures About Market Risk 46
– Controls and Procedures
Item 4 – Controls and Procedures 46
– Other Information
Part II – Other Information 47
– Legal Proceedings
Item 1 – Legal Proceedings 47
– Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 47
– Defaults Upon Senior Securities
Item 3 – Defaults Upon Senior Securities 47
– Mine Safety Disclosures
Item 4 – Mine Safety Disclosures 47
– Other Information
Item 5 – Other Information 47
– Exhibits
Item 6 – Exhibits 47
Signatures
Signatures 48 2 PART 1 FINANCIAL INFORMATION Item 1 – Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets at June 30, 2024 (unaudited) and March 31, 2024 (audited) 4 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended June 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Mezzanine Equity and Stockholders' Deficiency for the three months ended June 30, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the three months ended June 30, 2024 and 2023 (unaudited) 8 Notes to the Condensed Consolidated Financial Statements 9 3 BIOTRICITY INC. CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2024 (unaudited) AND MARCH 31, 2024 (audited) (Expressed in US Dollars) As at June 30, 2024 As at March 31, 2024 $ $ CURRENT ASSETS Cash 100,731 786,060 Accounts receivable, net 1,517,887 1,468,655 Inventory [Note 3] 1,913,290 1,879,402 Deposits and other receivables 562,245 336,456 Total current assets 4,094,153 4,470,573 Deposits and other receivables [Note 10] 85,000 85,000 Long-term accounts receivable 103,494 149,907 Property and equipment [Note 12] 14,064 15,552 Operating right of use assets [Note 10] 1,124,016 1,221,593 TOTAL ASSETS 5,420,727 5,942,625 CURRENT LIABILITIES Accounts payable and accrued liabilities [Note 4] 8,089,505 9,473,118 Convertible promissory notes and short term loans [Note 5] 8,499,158 9,376,471 Term loan, current 3,000,000 2,400,000 Derivative liabilities [Note 8] 516,107 991,866 Operating lease obligations, current [Note 10] 475,026 457,371 Total current liabilities 20,579,796 22,698,826 Federally guaranteed loans [Note 7] 870,800 870,800 Term loan [Note 6] 9,436,864 9,985,033 Derivative liabilities [Note 8] 1,323,374 1,435,668 Operating lease obligations 803,380 929,115 TOTAL LIABILITIES 33,014,214 35