Encision Inc. Files 10-Q for Q2 FY2025

TL;DR

Encision Inc. 10-Q filed. Q2 FY25 results out.

AI Summary

Encision Inc. reported its financial results for the period ending September 30, 2024. The company, formerly known as Electros Cope Inc., is based in Boulder, Colorado, and operates in the surgical and medical instruments sector. Specific financial figures for revenue, net income, and cash flow are not detailed in this excerpt, but the filing covers the second quarter of their fiscal year 2025.

Why It Matters

This filing provides investors with an update on Encision Inc.'s financial performance and operational status, crucial for understanding the company's trajectory in the medical device market.

Risk Assessment

Risk Level: medium — The filing is a standard 10-Q, but the lack of specific financial performance details in the provided text necessitates a medium risk assessment.

Key Players & Entities

• ENCISION INC (company) — Filer
• ELECTROSCOPE INC (company) — Former company name
• 3841 (other) — Standard Industrial Classification Code
• CO (other) — State of Incorporation
• 0331 (other) — Fiscal Year End
• 001-11789 (other) — SEC File Number
• 241462225 (other) — Film Number
• 80301 (other) — ZIP Code
• 3034442600 (other) — Business Phone Number
• 19960502 (date) — Date of name change

FAQ

Key Financial Figures

• $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-093024.htm (10-Q) — 484KB
• ex31x1.htm (EX-31.1) — 9KB
• ex31x2.htm (EX-31.2) — 9KB
• ex32x1.htm (EX-32.1) — 6KB
• 0001079973-24-001548.txt ( ) — 3178KB
• ecia-20240930.xsd (EX-101.SCH) — 20KB
• ecia-20240930_cal.xml (EX-101.CAL) — 38KB
• ecia-20240930_def.xml (EX-101.DEF) — 70KB
• ecia-20240930_lab.xml (EX-101.LAB) — 214KB
• ecia-20240930_pre.xml (EX-101.PRE) — 182KB
• ecia_10q-093024_htm.xml (XML) — 462KB

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 17 PART II. OTHER INFORMATION 18 ITEM 1 -

Legal Proceedings

Legal Proceedings 18 ITEM 1A -

Risk Factors

Risk Factors 18 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

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

- Condensed

ITEM 1 - Condensed Interim Financial Statements Encision Inc. Condensed Balance Sheets September 30, 2024 Unaudited March 31, 2024 Audited ASSETS Current assets: Cash $ 230,014 $ 42,509 Accounts receivable 817,002 891,129 Inventories 1,164,666 1,402,338 Prepaid expenses 70,628 90,298 Total current assets 2,282,310 2,426,274 Equipment: Furniture, fixtures and equipment, at cost 2,668,544 2,627,726 Accumulated depreciation ( 2,402,419 ) ( 2,373,722 ) Equipment, net 266,125 254,004 Right of use asset 736,850 900,787 Patents, net 169,283 164,010 Other assets 69,376 65,641 TOTAL ASSETS $ 3,523,944 $ 3,810,716 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 319,371 $ 346,049 Line of credit 78,851 156,685 Secured notes 43,041 42,194 Accrued compensation 192,810 184,913 Other accrued liabilities 91,145 119,804 Accrued lease liability 414,730 370,377 Total current liabilities 1,139,948 1,220,022 Long-term liabilities: Secured notes 200,496 67,336 Accrued lease liability 481,411 696,610 Total liabilities 1,821,855 1,983,968 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; 11,875,145 and 11,858,627 issued and outstanding at September 30, 2024 and March 31, 2024, respectively 24,395,358 24,371,795 Accumulated (deficit) ( 22,693,269 ) ( 22,545,047 ) Total shareholders' equity 1,702,089 1,826,748 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3,523,944 $ 3,810,716 The accompanying notes to financial statements are an integral part of these unaudited condensed financial statements. 1 Encision Inc. Condensed Statements of Operations (Unaudited) Three Months Ended Six Months Ended September 30, 2024 September 30,

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View this 10-Q filing on SEC EDGAR