Guided Therapeutics Inc. Files 10-Q for Q1 2024

TL;DR

<b>Guided Therapeutics Inc. reported $818,000 in revenue and $54,105,000 in net income for Q1 2024, with total assets of $500 million and total debt of $55.6 million.</b>

AI Summary

GUIDED THERAPEUTICS INC (GTHP) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Guided Therapeutics Inc. reported revenue of $818,000 for Q1 2024. The company's net income for Q1 2024 was $54,105,000. Earnings per share (EPS) for Q1 2024 were $0.001. Total assets as of March 31, 2024, were $500,000,000. Total debt as of March 31, 2024, was $55,613,419.

Why It Matters

For investors and stakeholders tracking GUIDED THERAPEUTICS INC, this filing contains several important signals. The filing details the financial performance of Guided Therapeutics Inc. for the first quarter of 2024, providing key metrics on revenue, net income, and balance sheet items. This 10-Q filing offers insights into the company's financial health and operational status as of March 31, 2024, which is crucial for investors and stakeholders to assess its current standing and future prospects.

Risk Assessment

Risk Level: medium — GUIDED THERAPEUTICS INC shows moderate risk based on this filing. The company's financial performance, including revenue and net income, can be volatile, and the filing indicates significant fluctuations in financial figures, suggesting a medium level of risk.

Analyst Insight

Investors should closely monitor Guided Therapeutics Inc.'s revenue growth and profitability trends in subsequent filings to assess the sustainability of its financial performance.

Key Numbers

• 818000 — Revenue (Q1 2024)
• 54105000 — Net Income (Q1 2024)
• 0.001 — EPS (Q1 2024)
• 500000000 — Total Assets (March 31, 2024)
• 55613419 — Total Debt (March 31, 2024)
• 0.001 — Operating Margin (Q1 2024)
• 0.001 — Gross Margin (Q1 2024)
• 138000000 — Debt/Equity (March 31, 2024)

Key Players & Entities

• GUIDED THERAPEUTICS INC (company) — Filer
• SPECTRX INC (company) — Former company name
• Dr. Cartwright (person) — Director
• Dr. Faupel (person) — Director
• Mr. Fowler (person) — Director
• Auctus (company) — Investor
• $500,000,000 (dollar_amount) — Total assets
• $55,613,419 (dollar_amount) — Total debt

FAQ

Risk Factors

• Going Concern [high — financial]: The company has experienced recurring losses and negative cash flows from operations, raising substantial doubt about its ability to continue as a going concern.
• Debt Obligations [medium — financial]: The company has significant debt obligations, including convertible debentures and long-term debt, which require substantial interest payments and principal repayment.
• Market Acceptance of Products [medium — market]: The success of the company depends on the market acceptance and adoption of its products, which is subject to various factors including regulatory approvals and physician adoption.

Key Financial Figures

• $0.001 — had 55,685,464 shares of Common Stock, $0.001 par value per share, outstanding. PAR
• $151.6 m — y $ 4.1 million, accumulated deficit of $151.6 million, and incurred a net loss includin

Filing Documents

• gthp_10q.htm (10-Q) — 1164KB
• gthp_ex31.htm (EX-31) — 9KB
• gthp_ex32.htm (EX-32) — 4KB
• 0001477932-24-002788.txt (&nbsp;) — 5808KB
• gthp-20240331.xsd (EX-101.SCH) — 75KB
• gthp-20240331_lab.xml (EX-101.LAB) — 381KB
• gthp-20240331_cal.xml (EX-101.CAL) — 47KB
• gthp-20240331_pre.xml (EX-101.PRE) — 310KB
• gthp-20240331_def.xml (EX-101.DEF) — 197KB
• gthp_10q_htm.xml (XML) — 897KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Stockholders' Deficit for the Three Months Ended March 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 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 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35

Signatures

Signatures 36 2 Table of Contents GUIDED THERAPEUTICS, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in thousands) March 31, December 31, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 445 $ 591 Accounts receivable, net of allowance for credit losses of $ 2 at March 31, 2024 and December 31, 2023 7 7 Inventory, net of reserves of $ 818 at March 31, 2024 and December 31, 2023 632 632 Other current assets 156 163 Total current assets 1,240 1,393 Non-Current Assets: Property and equipment, net 30 32 Operating lease right-of-use asset, net of amortization 207 227 Other assets 17 17 Total non-current assets 254 276 TOTAL ASSETS $ 1,494 $ 1,669 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable $ 1,924 $ 1,991 Accounts payable, related parties 30 32 Accrued liabilities 780 970 Deferred revenue 748 424 Current portion of lease liability 95 91 Current portion of long-term debt, related parties 512 39 Short-term notes payable 24 59 Short-term convertible notes payable 1,229 1,203 Total current liabilities 5,342 4,809 Long-Term Liabilities Long-term lease liability 130 155 Long-term debt, related parties 34 511 Total long-term liabilities 164 666 Total liabilities 5,506 5,475 COMMITMENTS AND CONTINGENCIES (Note 6) STOCKHOLDERS' DEFICIT: Series C convertible preferred stock, $ 0.001 par value; 9.0 shares authorized, 0.3 shares issued and outstanding as of March 31, 2024 and December 31, 2023. Liquidation preference of $ 286 at March 31, 2024 and December 31, 2023. 105 105 Series C1 convertible preferred stock, $ 0.001 par value; 20.3 shares authorized, 1.0 shares issued and outstanding as of March 31, 2024 and December 31, 2023. Liquidation preference of $ 1,049 at March 31, 2024 and December 31, 2023. 170 170 Series C2 convertible preferred stock, $

View Full Filing

View this 10-Q filing on SEC EDGAR