Emmaus Life Sciences Files Q3 2024 10-Q

TL;DR

Emmaus Life Sciences dropped its Q3 10-Q. Check financials.

AI Summary

Emmaus Life Sciences, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as MYnd Analytics, Inc., reported on its financial performance and business activities. Key financial data and disclosures related to its operations and investments are included in this filing.

Why It Matters

This filing provides investors and stakeholders with an update on Emmaus Life Sciences' financial health and operational status for the third quarter of 2024.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Emmaus Life Sciences operates in a highly regulated and competitive industry, facing inherent risks related to drug development, clinical trials, and market adoption.

Key Players & Entities

• Emmaus Life Sciences, Inc. (company) — Filer of the 10-Q
• MYnd Analytics, Inc. (company) — Former name of Emmaus Life Sciences, Inc.
• 20240930 (date) — End of the reporting period
• 20241119 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — 5,571 shares of common stock, par value $0.001 per share, outstanding as of November 1

Filing Documents

• emma-20240930.htm (10-Q) — 2894KB
• emma-ex10_1.htm (EX-10.1) — 497KB
• emma-ex31_1.htm (EX-31.1) — 12KB
• emma-ex31_2.htm (EX-31.2) — 12KB
• emma-ex32_1.htm (EX-32.1) — 10KB
• img109337448_0.jpg (GRAPHIC) — 2KB
• img109337448_1.jpg (GRAPHIC) — 9KB
• img109337448_2.jpg (GRAPHIC) — 1KB
• img109337448_3.jpg (GRAPHIC) — 4KB
• img109337448_4.jpg (GRAPHIC) — 1KB
• img109337448_5.jpg (GRAPHIC) — 3KB
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• img109337448_9.jpg (GRAPHIC) — 1KB
• img109337448_10.jpg (GRAPHIC) — 1KB
• img109337448_11.jpg (GRAPHIC) — 2KB
• img109337448_12.jpg (GRAPHIC) — 4KB
• 0000950170-24-128621.txt ( ) — 15084KB
• emma-20240930.xsd (EX-101.SCH) — 1755KB
• emma-20240930_htm.xml (XML) — 3522KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 (a) Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 (b) Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and nine months ended September 30, 2024 and 2023 2 (c) Condensed Consolidated Statements of Changes in Stockholders' Deficit for the three and nine months ended September 30, 2024 and 2023 3 (d) Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 (e) Notes to Condensed Consolidated Financial Statements 6 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 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30

Other Information

Part II Other Information Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 33 Item 6. Exhibits 34

Signatures

Signatures 35 I tem 1. Financial Statements EMMAUS LIFE SCIENCES, INC. CONDENSED CONSOL IDATED BALANCE SHEETS (In thousands, except share and per share amounts) (Unaudited) As of September 30, 2024 December 31, 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 1,255 $ 2,547 Accounts receivable, net 4,938 4,010 Due from factoring of accounts receivable 54 1,514 Inventories, net 1,610 1,711 Prepaid expenses and other current assets 1,347 1,727 Total current assets 9,204 11,509 Property and equipment, net 49 59 Right of use assets 1,719 2,337 Investment in convertible bond 16,059 20,978 Other assets 312 296 Total assets $ 27,343 $ 35,179 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable and accrued expenses $ 18,707 $ 16,951 Operating lease liabilities, current portion 2,329 1,639 Conversion feature derivative, notes payable 523 451 Other current liabilities 15,650 14,681 Warrant derivative liabilities 30 65 Notes payable, current portion, net of discount 7,915 8,215 Notes payable to related parties 2,772 3,122 Convertible notes payable, net of discount 16,205 16,383 Total current liabilities 64,131 61,507 Operating lease liabilities, less current portion 1,076 1,839 Other long-term liabilities 13,676 17,363 Notes payable to related parties, net of discount 2,241 2,226 Total liabilities 81,124 82,935 STOCKHOLDERS' DEFICIT Preferred stock, par value $ 0.001 per share, 15,000,000 shares authorized, none issued or outstanding — — Common stock, par value $ 0.001 per share, 250,000,000 shares authorized, 63,865,571 and 61,845,963 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 64 62 Additional paid-in capital 225,867 225,333 Net loan receivable from EJ Holdings ( 16,869 ) ( 16,869 ) Accumulated

View Full Filing

View this 10-Q filing on SEC EDGAR