INVO Bioscience files 10-K/A amendment

TL;DR

<b>INVO Bioscience, Inc. has filed an amendment to its 2023 10-K filing.</b>

AI Summary

INVO Bioscience, Inc. (IVF) filed a Amended Annual Report (10-K/A) with the SEC on April 17, 2024. Filing is an amendment to the 10-K for the fiscal year ended December 31, 2023. The company's fiscal year ends on December 31. INVO Bioscience, Inc. is incorporated in Nevada. The company's business address is 5582 Broadcast Court, Sarasota, FL 34240. The filing date is April 17, 2024.

Why It Matters

For investors and stakeholders tracking INVO Bioscience, Inc., this filing contains several important signals. This amendment indicates potential updates or corrections to the company's annual financial reporting. Investors and analysts should review the amended filing for any changes in financial performance, risk factors, or business operations.

Risk Assessment

Risk Level: low — INVO Bioscience, Inc. shows low risk based on this filing. The filing is an amendment to a 10-K, which typically indicates corrections or updates rather than new material events, suggesting a lower immediate risk.

Analyst Insight

Review the specific changes made in this 10-K/A filing to understand any updated financial or operational information for INVO Bioscience, Inc.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-17 — Filing Date (As of date)
• 001-39701 — SEC File Number (SEC file number)
• 24851860 — Film Number (Film number)

Key Players & Entities

• INVO Bioscience, Inc. (company) — Filer name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-17 (date) — Filing date
• 5582 BROADCAST COURT (address) — Business address
• SARASOTA (location) — Business address city
• FL (location) — Business address state
• 34240 (postal_code) — Business address zip
• Nevada (location) — State of incorporation

FAQ

Industry Context

INVO Bioscience operates in the medical device sector, specifically focusing on fertility treatments.

Regulatory Implications

The filing is a standard SEC disclosure under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the specific amendments made in the 10-K/A filing.
2. Analyze any updated financial data or disclosures.
3. Assess the impact of any changes on the company's overall financial health and business strategy.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K filing.
• 2024-04-17: Filing Date — Date the 10-K/A amendment was filed.

Year-Over-Year Comparison

This is an amended filing (10-K/A) to the annual report for the fiscal year ended December 31, 2023.

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share INVO The Nasdaq
• $4.00 — ice of the registrant's common stock of $4.00 on the NASDAQ as of that date. The nu

Filing Documents

• form10-ka.htm (10-K/A) — 1550KB
• ex23-1.htm (EX-23.1) — 3KB
• ex31-3.htm (EX-31.3) — 8KB
• ex31-4.htm (EX-31.4) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-015050.txt (&nbsp;) — 9724KB
• invo-20231231.xsd (EX-101.SCH) — 72KB
• invo-20231231_cal.xml (EX-101.CAL) — 89KB
• invo-20231231_def.xml (EX-101.DEF) — 342KB
• invo-20231231_lab.xml (EX-101.LAB) — 594KB
• invo-20231231_pre.xml (EX-101.PRE) — 485KB
• form10-ka_htm.xml (XML) — 1669KB

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements F-6 3 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholders of INVO Bioscience, Inc. Opinion on the Consolidated Financial Statements We have audited the accompanying consolidated balance sheets of INVO Bioscience, Inc. (the Company) as of December 31, 2023 and 2022, and the related consolidated statements of operations, stockholders' equity (deficit), and cash flows for each of the years in the two-year period ended December 31, 2023, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America. Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the Company has suffered net losses from operations and has a net capital deficiency, which raises substantial doubt about its ability to continue as a going concern. Management's plans regarding those matters are discussed in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Basis for Opinion These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S.

financial statements. We believe that our audits provide a reasonable basis for our opinion

financial statements. We believe that our audits provide a reasonable basis for our opinion. Critical Audit Matter The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates. Revenue Transactions and Improper Revenue Recognition As discussed in Note 1 to the consolidated financial statements, the Company recognizes revenue on arrangements in accordance with ASC 606, Revenue from Contracts with Customers. The core principle of ASC 606 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASC 606 requires companies to assess their contracts to determine the timing and amount of revenue to recognize under the revenue standard. The model has a five-step approach: Identify the contract with the customer. Identify the performance obligations in the contract. Determine the total transaction price. Allocate the total transaction price to each performance obligation in the contract. Recognize as revenue when (or as) each performance obligation is satisfied. Auditing management's evaluation of revenue from contracts with customers involves significant judgment, given the fact that the agreements require management's evaluation, identification of the contract and t

financial statements and the reported amounts of revenues and expenses during the reporting periods

financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company considers events or transactions that have occurred after the consolidated balance sheet date of December 31, 2023, but prior to the filing of the consolidated financial statements with the SEC in this Annual Report on Form 10-K, to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure, as applicable. Subsequent events have been evaluated through the date of the filing of this Annual Report on Form 10-K. Reclassifications Certain amounts in the consolidated financial statements for the prior year have been reclassified to conform to the current year presentation. These reclassifications had no impact on net earnings, financial position, or cash flows.

Business

Business Segments The Company operates in one segment and therefore segment information is not presented.

Business

Business Acquisitions The Company accounts for all business acquisitions at fair value and expenses acquisition costs as they are incurred. Any identifiable assets acquired and liabilities assumed are recognized and measured at their respective fair values on the acquisition date. If information about facts and circumstances existing as of the acquisition date is incomplete at the end of the reporting period in which a business acquisition occurs, the Company will report provisional amounts for the items for which the accounting is incomplete. The measurement period ends once the Company receives sufficient information to finalize the fair values; however, the period will not exceed one year from the acquisition date. Any adjustments to provisional amounts that are identified during the measurement period are recognized in the reporting period in which the adjustment amounts are determined. Variable Interest Entities The Company's consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, and variable interest entities ("VIE"), where the Company is the primary beneficiary under the provisions of ASC 810, Consolidation ("ASC 810"). A VIE must be consolidated by its primary beneficiary when, along with its affiliates and agents, the primary beneficiary has both: (i) the power to direct the activities that most significantly impact the VIE's economic performance; and (ii) the obligation to absorb losses or the right to receive the benefits of the VIE that could potentially be significant to the VIE. The Company reconsiders whether an entity is still a VIE only upon certain triggering events and continually assesses its consolidated VIEs to determine if it continues to be the primary beneficiary. See "Note 3 – Variable Interest Entities" for additional information on the Company's VIEs. F-6 Equity Method Investments Investments in unconsolidated affiliates, which the Company exerts significant influence but does not

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View this 10-K/A filing on SEC EDGAR