Dror Ortho-Design Files Q2 2024 10-Q
Ticker: DROR · Form: 10-Q · Filed: Aug 14, 2024 · CIK: 1282980
Sentiment: neutral
Topics: 10-Q, quarterly-report, dental-equipment
TL;DR
Dror Ortho-Design filed its 10-Q for Q2 2024. Financials and operations update.
AI Summary
Dror Ortho-Design, Inc. filed its 10-Q for the quarterly period ended June 30, 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 Jerusalem, Israel, with a business address in Washington, PA.
Why It Matters
This filing provides a quarterly update on Dror Ortho-Design's financial performance and operational status, which is crucial for investors and stakeholders to assess the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing and does not contain immediate, significant negative news.
Key Players & Entities
- Dror Ortho-Design, Inc. (company) — Registrant
- NOVINT TECHNOLOGIES INC (company) — Former company name
- June 30, 2024 (date) — Quarterly period end date
- Delaware (jurisdiction) — State of incorporation
- Washington, PA (location) — Business address city and state
- 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, with SIC code 3843.
When is the fiscal year end for Dror Ortho-Design, Inc.?
The fiscal year end for Dror Ortho-Design, Inc. is December 31st.
What was the previous name of Dror Ortho-Design, Inc.?
The company was formerly known as NOVINT TECHNOLOGIES INC, with a name change date of March 8, 2004.
Where are Dror Ortho-Design, Inc.'s principal executive offices located?
The principal executive offices are located at Shatner Street 3, Jerusalem, Israel.
What is the SEC file number for Dror Ortho-Design, Inc.?
The SEC file number for Dror Ortho-Design, Inc. is 000-51783.
Filing Stats: 4,580 words · 18 min read · ~15 pages · Grade level 14.1 · Accepted 2024-08-14 16:16:08
Filing Documents
- ea0211157-10q_drorortho.htm (10-Q) — 391KB
- ea021115701ex31-1_drorortho.htm (EX-31.1) — 8KB
- ea021115701ex31-2_drorortho.htm (EX-31.2) — 8KB
- ea021115701ex32-1_drorortho.htm (EX-32.1) — 3KB
- ea021115701ex32-2_drorortho.htm (EX-32.2) — 3KB
- 0001213900-24-069044.txt ( ) — 2576KB
- dror-20240630.xsd (EX-101.SCH) — 25KB
- dror-20240630_cal.xml (EX-101.CAL) — 17KB
- dror-20240630_def.xml (EX-101.DEF) — 130KB
- dror-20240630_lab.xml (EX-101.LAB) — 215KB
- dror-20240630_pre.xml (EX-101.PRE) — 122KB
- ea0211157-10q_drorortho_htm.xml (XML) — 188KB
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 12 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 18 Item 4.
Controls and Procedures
Controls and Procedures 18
OTHER INFORMATION
PART II. OTHER INFORMATION 19 Item 1.
Legal Proceedings
Legal Proceedings 19 Item 1A.
Risk Factors
Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 21
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Condensed Consolidated Financial Statements
Item 1. Condensed Consolidated Financial Statements DROR ORTHO-DESIGN, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (U.S. dollars) June 30, 2024 December 31, 2023 Unaudited Audited Assets Current Assets: Cash $ 1,834,477 $ 3,347,843 Other receivables and prepaid expenses 60,192 114,100 Total Current Assets 1,894,669 3,461,943 Noncurrent Assets: Property and equipment at cost, net of accumulated depreciation 26,612 2,328 Total Assets 1,921,281 3,464,271 Liabilities And Stockholders' Equity Current Liabilities: Accounts payable $ 94,338 $ 106,833 Accrued expenses and other payables 163,588 190,271 Total Current Liabilities 257,926 297,104 Noncurrent Liabilities: Accrued severance 5,059 5,243 Total Liabilities 262,985 302,347 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 June 30, 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 June 30, 2024 and December 31, 2023, respectively 49,545 49,545 Additional paid-in capital 18,153,662 16,842,037 Accumulated deficit ( 16,545,958 ) ( 13,730,705 ) Total Stockholders' Equity 1,658,296 3,161,924 Total Liabilities and Stockholders' Equity $ 1,921,281 $ 3,464,271 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 DROR ORTHO-DESIGN, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars, except share and per share amounts) Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Unaudited Unaudited Operating Expenses Research and development 389,216 140,590 762,873 439,362 General and administrative expenses 333,274 151,347 718,838 316,444 Share-based compensat