Encision Inc. Files Q3 2024 10-Q

TL;DR

Encision Inc. (ECIA) filed its 10-Q for Q3 FY24 ending 12/31/24. Check financials.

AI Summary

Encision Inc. filed its 10-Q for the period ending December 31, 2024. The company, formerly known as Electros Cope Inc., is based in Boulder, Colorado, and operates in the surgical and medical instruments sector. The filing covers the third quarter of their fiscal year, which ends on March 31st.

Why It Matters

This filing provides investors with an update on Encision's financial performance and operational status for the third quarter of fiscal year 2024, offering insights into their business in the medical device industry.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and business updates.

Key Players & Entities

• Encision Inc. (company) — Filer of the 10-Q
• Electros Cope Inc. (company) — Former name of Encision Inc.
• Boulder, Colorado (location) — Company's business address
• 3841 (industry_code) — Standard Industrial Classification for Surgical & Medical Instruments & Apparatus
• 20241231 (date) — End of the reporting period
• 20250214 (date) — Filing date

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-123124.htm (10-Q) — 476KB
• ex31x1.htm (EX-31.1) — 9KB
• ex31x2.htm (EX-31.2) — 9KB
• ex32x1.htm (EX-32.1) — 6KB
• 0001079973-25-000232.txt ( ) — 3093KB
• ecia-20241231.xsd (EX-101.SCH) — 20KB
• ecia-20241231_cal.xml (EX-101.CAL) — 38KB
• ecia-20241231_def.xml (EX-101.DEF) — 70KB
• ecia-20241231_lab.xml (EX-101.LAB) — 216KB
• ecia-20241231_pre.xml (EX-101.PRE) — 183KB
• ecia_10q-123124_htm.xml (XML) — 418KB

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 17 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 19 ITEM 5 - Other Information 19 ITEM 6 - Exhibits 19

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

- Condensed

ITEM 1 - Condensed Interim Financial Statements Encision Inc. Condensed Balance Sheets December 31, 2024 March 31, 2024 Unaudited Audited ASSETS Current assets: Cash $ 347,919 $ 42,509 Accounts receivable 779,900 891,129 Inventories 1,363,377 1,402,338 Prepaid expenses 195,455 90,298 Total current assets 2,686,651 2,426,274 Equipment: Furniture, fixtures, and equipment, at cost 2,675,406 2,627,726 Accumulated depreciation ( 2,405,638 ) ( 2,373,722 ) Equipment, net 269,768 254,004 Right of use asset, net 653,249 900,787 Patents, net 175,233 164,010 Other assets 73,826 65,641 TOTAL ASSETS 3,858,727 3,810,716 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 495,015 $ 346,049 Line of credit 281,527 156,685 Secured notes 47,469 42,194 Accrued compensation 225,252 184,913 Other accrued liabilities 140,593 119,804 Accrued lease liability 421,467 370,377 Total current liabilities 1,611,323 1,220,022 Long-term liability: Secured notes 182,067 67,336 Accrued lease liability 377,952 696,610 Total liabilities 2,171,342 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; 11,879,645 and 11,858,627 issued and outstanding at December 31, 2024, and March 31, 2024, respectively 24,405,321 24,371,795 Accumulated (deficit) ( 22,717,936 ) ( 22,545,047 ) Total shareholders' equity 1,687,385 1,826,748 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3,858,727 $ 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 Nine Months Ended December 31, 2024 December 31,

View Full Filing

View this 10-Q filing on SEC EDGAR