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

TL;DR

<b>Envision Inc. has filed its quarterly report (10-Q) for the period ending December 31, 2023.</b>

AI Summary

ENCISION INC (ECIA) filed a Quarterly Report (10-Q) with the SEC on February 20, 2024. Envision Inc. filed a 10-Q report for the period ending December 31, 2023. The company's fiscal year ends on March 31. The filing covers the third quarter of fiscal year 2024. Previous fiscal year end was March 31, 2023. The filing includes data for periods ending December 31, 2023, and December 31, 2022.

Why It Matters

For investors and stakeholders tracking ENCISION INC, this filing contains several important signals. This 10-Q filing provides investors with an update on Envision Inc.'s financial performance and operational status for the most recent quarter. The detailed financial information within the report is crucial for understanding the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — ENCISION INC shows low risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to assess Envision Inc.'s performance and identify any emerging trends or risks.

Key Numbers

• 20231231 — Period of Report (Conformed Period of Report)
• 20240220 — Filing Date (Filed as of date)
• 2024-02-20T00:00:00.000Z — Filing Date (Date of filing)
• 0331 — Fiscal Year End (Fiscal year end)
• 2023-10-01 — Quarter Start Date (Q3 2024 start date)
• 2023-12-31 — Quarter End Date (Q3 2024 end date)
• 2022-12-31 — Prior Year Quarter End (Q3 2023 end date)
• 19960502 — Name Change Date (Former company name change date)

Key Players & Entities

• ENCISION INC (company) — Filer name
• 0000930775 (company) — Central Index Key
• 3841 (company) — Standard Industrial Classification
• CO (company) — State of Incorporation
• 001-11789 (company) — SEC File Number
• 24653235 (company) — Film Number
• 6797 WINCHESTER CIRCLE (company) — Business Address Street 1
• BOULDER (company) — Business Address City

FAQ

Industry Context

Envision Inc. operates in the Surgical & Medical Instruments & Apparatus industry (SIC 3841).

Regulatory Implications

The filing is a Form 10-Q, a standard quarterly report required by the SEC for public companies.

What Investors Should Do

1. Analyze the revenue and expense details for Q3 FY24.
2. Examine any disclosed debt or equity information.
3. Review management's discussion and analysis for insights into performance drivers and risks.

Year-Over-Year Comparison

This is the initial filing data extracted for the 10-Q report ending December 31, 2023. Comparative data from previous filings is not yet available in this extract.

Key Financial Figures

• $301,805 — fits. Shareholders' equity decreased by $301,805 since March 31, 2023 as a result of our
• $1,000,000 — dit that is not to exceed the lesser of $1,000,000 or 85% of eligible accounts receivable.
• $300,000 — is charged on a minimum loan balance of $300,000, a loan fee of 0.5% at closing and annu

Filing Documents

• ecia_10q.htm (10-Q) — 474KB
• ex31x1.htm (EX-31.1) — 14KB
• ex31x2.htm (EX-31.2) — 14KB
• ex32x1.htm (EX-32.1) — 10KB
• 0001079973-24-000277.txt (&nbsp;) — 2922KB
• ecia-20231231_lab.xml (EX-101.LAB) — 173KB
• ecia-20231231_pre.xml (EX-101.PRE) — 149KB
• ecia-20231231.xsd (EX-101.SCH) — 20KB
• ecia-20231231_cal.xml (EX-101.CAL) — 39KB
• ecia-20231231_def.xml (EX-101.DEF) — 65KB
• ecia_10q_htm.xml (XML) — 433KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 10 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 PART II. OTHER INFORMATION ITEM 1 -

Legal Proceedings

Legal Proceedings 17 ITEM 1A -

Risk Factors

Risk Factors 17 ITEM 2 - Unregistered Sales of Equity Securities 17 ITEM 3 - Defaults on Senior Securities 17 ITEM 4 - Mine Safety Disclosures 17 ITEM 5 - Other Information 17 ITEM 6 - Exhibits 17 SIGNATURE 18

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

- Condensed

ITEM 1 - Condensed Interim Financial Statements Encision Inc. Condensed Balance Sheets (Unaudited) December 31, 2023 March 31, 2023 ASSETS Current assets: Cash $ 99,239 $ 188,966 Accounts receivable 923,112 920,721 Inventories, net of reserve for obsolescence of $ 114,000 at December 31, 2023 and $ 51,000 at March 31, 2023 1,554,185 1,899,202 Prepaid expenses 128,538 115,714 Total current assets 2,705,074 3,124,603 Equipment: Furniture, fixtures and equipment, at cost 2,627,727 2,615,676 Accumulated depreciation ( 2,359,012 ) ( 2,312,400 ) Equipment, net 268,715 303,276 Right of use asset 1,082,999 496,004 Patents, net of accumulated amortization of $ 324,568 at December 31, 2023 and $ 306,946 at March 31, 2023 165,567 163,133 Other assets 64,183 46,953 TOTAL ASSETS $ 4,286,538 $ 4,133,969 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 301,833 $ 252,957 Line of credit — 177,402 Secured notes 44,614 44,491 Accrued compensation 233,366 217,724 Other accrued liabilities 129,954 84,578 Accrued lease liability 351,406 353,674 Total current liabilities 1,061,173 1,130,826 Long-term liability: Secured notes 232,940 268,512 Accrued lease liability 799,419 239,820 Total liabilities 2,093,532 1,639,158 Commitments and contingencies (Note 4) — Shareholders' equity: Preferred stock, no par value: 10,000,000 shares authorized; none issued and outstanding — — Common stock and additional paid-in capital, no par value: 100,000,000 shares authorized; 11,769,543 issued and outstanding at December 31, 2023 and March 31, 2023 24,401,381 24,348,075 Accumulated (deficit) ( 22,208,375 ) ( 21,853,264 ) Total shareholders' equity 2,193,006 2,494,811 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 4,286,538 $ 4,133,969 The accompanying notes to financial statements are an integral part of these unaudited condensed financial stateme

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