NanoVibronix, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>NanoVibronix, Inc. has filed its Q1 2024 10-Q report, detailing its financial position and business operations.</b>

AI Summary

NanoVibronix, Inc. (FEED) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. NanoVibronix, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business address is 525 Executive Blvd, Elmsford, NY 10523. NanoVibronix, Inc. was formerly known as Nano Vibronix, Inc. and Nano Vibronix Inc. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking NanoVibronix, Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and operational status for the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's current health and future prospects in the orthopedic, prosthetic & surgical appliances & supplies industry.

Risk Assessment

Risk Level: low — NanoVibronix, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate indicators of significant new risks or opportunities.

Analyst Insight

Review the detailed financial statements and any new disclosures in the 10-Q to assess NanoVibronix's performance and identify potential investment implications.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed period of report)
• 2024-05-15 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (First quarter period)
• 2023-03-31 — Prior Year Quarter End Date (Prior year quarter period)

Key Players & Entities

• NanoVibronix, Inc. (company) — Filer name
• 525 Executive Blvd (location) — Business address
• Elmsford (location) — Business address city
• NY (location) — Business address state
• 10523 (location) — Business address zip
• Nano Vibronix, Inc. (company) — Former company name
• Nano Vibronix Inc (company) — Former company name
• DE (location) — State of incorporation

FAQ

Industry Context

NanoVibronix operates in the Orthopedic, Prosthetic & Surgical Appliances & Supplies industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosures from public companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow for Q1 2024.
2. Review any Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Check for any new risk factors or legal proceedings disclosed in the report.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-15: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the period ending March 31, 2024, following the 10-K filed for the fiscal year ending December 31, 2023.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share NAOV NASDAQ Capital Mark

Filing Documents

• form10-q.htm (10-Q) — 860KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• form10-q_001.jpg (GRAPHIC) — 26KB
• 0001493152-24-019675.txt (&nbsp;) — 3991KB
• naov-20240331.xsd (EX-101.SCH) — 28KB
• naov-20240331_cal.xml (EX-101.CAL) — 46KB
• naov-20240331_def.xml (EX-101.DEF) — 138KB
• naov-20240331_lab.xml (EX-101.LAB) — 255KB
• naov-20240331_pre.xml (EX-101.PRE) — 207KB
• form10-q_htm.xml (XML) — 467KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Ended March 31, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows for the Three months Ended March 31, 2024 and 2023 4 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 Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6. Exhibits 23

Signatures

Signatures 24 i PART I - FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NanoVibronix, Inc. Condensed Consolidated Balance Sheets (Amounts in thousands except share and per share data) (Unaudited) March 31, 2024 December 31, 2023 ASSETS: Current assets: Cash $ 2,700 $ 3,283 Trade receivables 360 318 Prepaid expenses and other accounts receivable 297 154 Inventory 2,588 2,732 Total current assets 5,945 6,487 Noncurrent assets: Fixed assets, net 8 7 Other assets 1 1 Severance pay fund 171 174 Operating lease right-of-use assets, net 110 5 Total non-current assets 290 187 Total assets $ 6,235 $ 6,674 LIABILITIES AND STOCKHOLDERS' EQUITY: Current liabilities: Trade payables $ 37 $ 138 Other accounts payable and accrued expenses 2,320 2,265 Deferred licensing income, current 46 46 Operating lease liabilities, current 24 5 Total current liabilities 2,427 2,454 Non-current liabilities: Accrued severance pay 214 217 Deferred revenue – long term 4 15 Operating lease liabilities, non-current 86 - Total liabilities 2,731 2,686 Commitments and contingencies - - Stockholders' equity: Series C Preferred Stock of $ 0.001 par value – Authorized: 3,000,000 shares at both March 31, 2024 and December 31, 2023; issued and outstanding: 0 shares at both March 31, 2024 and December 31, 2023, respectively - - Series D Preferred Stock of $ 0.001 par value – Authorized: 506 shares at both March 31, 2024 and December 31, 2023; issued and outstanding: 0 shares at both March 31, 2024 and December 31, 2023, respectively - - Series E Preferred Stock of $ 0.001 par value – Authorized: 1,999,494 shares at both March 31, 2024 and December 31, 2023, respectively; issued and outstanding: 0 shares at both March 31, 2024 and December 31, 2023, respectively - - Series F Preferred Stock of $ 0.01 par value – Authorized: 40,000 and 0 shares at March 31

financial statements. The Company is currently evaluating the

financial statements. The Company is currently evaluating the impact that adoption of ASU 2023-09 will have on its financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 requires that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The amendment in the ASU is intended to enhance the transparency and decision usefulness of income tax disclosures. The ASU's amendments are effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact that adoption of ASU 2023-09 will have on its financial statements. 6 NOTE 4 – INVENTORY Inventory consists of the following components: SCHEDULE OF INVENTORY March 31, 2024 December 31, 2023 Raw materials $ 311,000 $ 210,000 Finished goods 2,277,000 2,522,000 Inventory $ 2,588,000 $ 2,732,000 NOTE 5 – STOCKHOLDERS' EQUITY Common stock The common stock, par value $ 0.001 per share (the "Common Stock"), confers upon the holders the right to receive notice to participate and vote in general meetings of the Company, the right to receive dividends, if declared, and to participate in the distribution of the surplus assets and funds of the Company in the event of liquidation, dissolution, or winding up of the Company. Reverse stock split On February 8, 2023, the Company effected a reverse stock split of its Common Stock at a ratio of 1 post-split share for every 20 pre-split shares. The Company's Common Stock begin trading on a split-adjusted basis when the market opened on February 9, 2023 (the "Reverse Stock Split"). At the effective time of the Reverse Stock Split, every 20 shares of the Company's issued and outstanding Common Stock were converted automatically into one issued and outstanding share of Common Stock without any change in the par value per s

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View this 10-Q filing on SEC EDGAR