CareView Communications Inc. Files Quarterly Report (10-Q)

TL;DR

<b>CareView Communications, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, confirming compliance with filing requirements.</b>

AI Summary

CareView Communications Inc (CRVW) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. CareView Communications, Inc. filed a Form 10-Q for the quarterly period ended March 31, 2024. The company is incorporated in Nevada and its fiscal year ends on December 31. Its principal executive offices are located at 405 State Highway 121, Suite B-240, Lewisville, TX 75067. CareView Communications, Inc. is registered under the ticker CRVW on OTC Markets. The company has confirmed it has filed all required reports for the preceding 12 months and submitted all Interactive Data Files.

Why It Matters

For investors and stakeholders tracking CareView Communications Inc, this filing contains several important signals. This filing provides an update on the company's financial and operational status for the first quarter of 2024. As a smaller reporting company and non-accelerated filer, this report is crucial for investors to assess the company's performance and outlook.

Risk Assessment

Risk Level: low — CareView Communications Inc shows low risk based on this filing. The filing is a routine quarterly report and does not contain significant new financial data or strategic shifts that would indicate immediate high risk.

Analyst Insight

Monitor future filings for detailed financial results and operational updates to assess the company's performance against its stated business objectives.

Key Numbers

• 2024-03-31 — Quarter End Date (Quarterly report period)
• 2024-05-14 — Filing Date (Date the report was filed)
• 000-54090 — SEC File Number (Commission file number for CareView Communications, Inc.)
• 954659068 — IRS Number (Registrant's IRS Employer Identification No.)

Key Players & Entities

• CareView Communications Inc. (company) — Registrant name
• CRVW (company) — Trading Symbol
• March 31, 2024 (date) — Quarterly period ended
• 20240331 (date) — Conformed period of report
• 20240514 (date) — Filed as of date
• Nevada (jurisdiction) — State of incorporation
• Lewisville, TX (location) — Principal executive offices
• OTC Markets (company) — Exchange where CRVW is registered

FAQ

Industry Context

CareView Communications operates in the radio & TV broadcasting & communications equipment industry.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Track future SEC filings for updates on operational performance and strategic initiatives.
3. Monitor CRVW stock performance on OTC Markets in conjunction with company news.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the previous year's filings.

Key Financial Figures

• $0.10 — 62,260 Debt to equity conversion at $0.10 262,000,000 262,000 25,938,000 — 2

Filing Documents

• crvw-10q_033124.htm (10-Q) — 451KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32.htm (EX-32) — 7KB
• 0001999371-24-006072.txt (&nbsp;) — 494KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item. 1

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Changes in Stockholders' Deficit for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 6 Notes to the Condensed Consolidated Financial Statements 7 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 25 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item. 1 Financial Statements CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, (Unaudited) 2023 ASSETS Current Assets: Cash $ 1,249,580 $ 1,145,871 Accounts receivable 1,214,697 1,167,934 Inventory 337,897 294,435 Other current assets 247,153 335,091 Total current assets 3,049,327 2,943,331 Property and equipment, net 266,517 317,626 Intangible assets, net 413,861 406,301 Operating lease asset 253,956 292,990 Other assets, net 288,853 302,010 Total other assets 956,670 1,001,301 Total assets $ 4,272,514 $ 4,262,258 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable $ 655,649 $ 598,095 Notes payable 20,000,000 20,000,000 Notes payable - related parties 700,000 700,000 Deferred revenue 2,221,176 1,752,061 Accrued interest payable 17,281,264 16,479,139 Operating lease liability 190,991 188,184 Other current liabilities 254,086 489,497 Total current liabilities 41,303,166 40,206,976 Long-term Liabilities: Operating lease liability 93,426 139,099 Other liabilities 107,601 178,907 Total long-term liabilities 201,027 318,006 Total liabilities 41,504,193 40,524,982 Stockholders' Deficit: Preferred stock - par value $ 0.001 ; 20,000,000 shares authorized; no shares issued and outstanding — — Common stock - par value $ 0.001 ; 800,000,000 shares authorized; 583,880,748 issued and outstanding, respectively 583,881 583,881 Additional paid in capital 171,091,620 171,038,349 Accumulated deficit (208,907,180 ) (207,884,954 ) Total stockholders' deficit (37,231,679 ) (36,262,724 ) Total liabilities and stockholders' deficit $ 4,272,514 $ 4,262,258 The accompanying footnotes are an integral part of these consolidated financial statements. 3 CAREVIEW COMMUNICATIONS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS

Financial Statements

Financial Statements The accompanying unaudited interim condensed consolidated financial statements of CareView Communications, Inc. ("CareView", the "Company", "we", "us" or "our") have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with GAAP and the rules and regulations of the Securities and Exchange Commission (the "SEC"). The balance sheet at December 31, 2022 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the SEC on March 29, 2024. Revenue Recognition We recognize revenue in accordance with Accounting Standards Codification ("ASC") Topic 606 ("ASC 606"). For our subscription service contract

View Full Filing

View this 10-Q filing on SEC EDGAR