Dror Ortho-Design Files Q1 2024 10-Q
Ticker: DROR · Form: 10-Q · Filed: May 20, 2024 · CIK: 1282980
Sentiment: neutral
Topics: 10-Q, quarterly-report, company-information
TL;DR
Dror Ortho-Design filed its Q1 2024 10-Q. Formerly NOVINT TECHNOLOGIES INC.
AI Summary
Dror Ortho-Design, Inc. filed its quarterly report on Form 10-Q for the period ending March 31, 2024. The company, formerly known as NOVINT TECHNOLOGIES INC, is incorporated in Delaware and operates in the Dental Equipment & Supplies sector. Its principal executive offices are located in Washington, PA, with a principal executive office address also listed in Jerusalem, Israel.
Why It Matters
This filing provides investors with an update on Dror Ortho-Design's financial performance and operational status for the first quarter of 2024.
Risk Assessment
Risk Level: low — This filing is a routine quarterly report and does not contain immediate, significant negative news.
Key Players & Entities
- Dror Ortho-Design, Inc. (company) — Registrant
- NOVINT TECHNOLOGIES INC (company) — Former company name
- March 31, 2024 (date) — Quarterly period end date
- Washington, PA (location) — Business address
- Jerusalem, Israel (location) — Principal executive office address
FAQ
What is the primary business of Dror Ortho-Design, Inc.?
Dror Ortho-Design, Inc. operates in the Dental Equipment & Supplies sector, as indicated by its Standard Industrial Classification code 3843.
When was Dror Ortho-Design, Inc. formerly known as?
The company was formerly known as NOVINT TECHNOLOGIES INC, with a date of name change on March 8, 2004.
What is the filing date of this 10-Q report?
This 10-Q report was filed on May 20, 2024.
Where are Dror Ortho-Design, Inc.'s principal executive offices located?
The company lists its principal executive offices at 480 Johnson Road, Suite 200, Washington, PA 15301, and also provides an address in Jerusalem, Israel.
What is the fiscal year end for Dror Ortho-Design, Inc.?
The fiscal year end for Dror Ortho-Design, Inc. is December 31.
Filing Stats: 4,626 words · 19 min read · ~15 pages · Grade level 13.5 · Accepted 2024-05-20 15:47:02
Filing Documents
- ea0206520-10q_drorortho.htm (10-Q) — 330KB
- ea020652001ex31-1_dror.htm (EX-31.1) — 8KB
- ea020652001ex31-2_dror.htm (EX-31.2) — 8KB
- ea020652001ex32-1_dror.htm (EX-32.1) — 4KB
- ea020652001ex32-2_dror.htm (EX-32.2) — 4KB
- 0001213900-24-045144.txt ( ) — 2387KB
- dror-20240331.xsd (EX-101.SCH) — 25KB
- dror-20240331_cal.xml (EX-101.CAL) — 17KB
- dror-20240331_def.xml (EX-101.DEF) — 125KB
- dror-20240331_lab.xml (EX-101.LAB) — 213KB
- dror-20240331_pre.xml (EX-101.PRE) — 117KB
- ea0206520-10q_drorortho_htm.xml (XML) — 149KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 1 Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) 1 Notes to Unaudited Condensed Consolidated Financial Statements 5 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 11 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 16 Item 4.
Controls and Procedures
Controls and Procedures 16
OTHER INFORMATION
PART II. OTHER INFORMATION 17 Item 1.
Legal Proceedings
Legal Proceedings 17 Item 1A.
Risk Factors
Risk Factors 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 18 Item 4. Mine Safety Disclosures 18 Item 5. Other Information 18 Item 6. Exhibits 19
Signatures
Signatures 20 i DROR ORTHO-DESIGN, INC CONDENSED CONSOLIDATED BALANCE SHEETS (U.S. dollars)
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Condensed Consolidated Financial Statements
Item 1. Condensed Consolidated Financial Statements March 31, 2024 December 31, 2023 Unaudited Audited Assets Current Assets: Cash $ 2,550,042 $ 3,347,843 Other receivables and prepaid expenses 105,356 114,100 Total Current Assets 2,655,398 3,461,943 Noncurrent Assets: Property and equipment at cost, net of accumulated depreciation 18,609 2,328 Total Assets 2,674,007 3,464,271 Liabilities And Stockholders' Equity Current Liabilities: Accounts payable $ 6,185 $ 106,833 Accrued expenses and other payables (related parties – $ 7,989 and $ 4,841 , respectively) 271,998 190,271 Total Current Liabilities 278,183 297,104 Noncurrent Liabilities: Accrued severance 5,166 5,243 Total Liabilities 283,349 302,347 Commitments and Contingencies (Note 3) Stockholders' Equity Preferred A Stock, $ 0.0001 par value, 12,500,000 shares authorized; 10,463,363 shares outstanding at March 31, 2024 and December 31, 2023, respectively 1,047 1,047 Common stock, $ 0.0001 par value; 3,254,475,740 and 500,000,000 shares authorized; 495,454,546 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 49,545 49,545 Additional paid-in capital 17,379,234 16,842,037 Accumulated deficit ( 15,039,168 ) ( 13,730,705 ) Total Stockholders' Equity 2,390,658 3,161,924 Total Liabilities and Stockholders' Equity $ 2,674,007 $ 3,464,271 1 DROR ORTHO-DESIGN, INC. CONDENSED STATEMENTS OF OPERATIONS (U.S. dollars) Three Months Ended March 31, 2024 March 31, 2023 Unaudited Operating Expenses Research and development $ 373,657 $ 298,772 General and administrative expenses (related parties – $ 60,508 and $ 2,969 , respectively) 385,564 165,097 Share-based compensation 537,197 5,032 Total Operating Expenses 1,296,418 468,901 Loss from operations ( 1,296,418 ) ( 468,901 ) Financial income (expenses), net ( 12,045 ) 3,297 Total other income ( 12,045 ) 3,297 Lo