INVO Bioscience, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>INVO Bioscience, Inc. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

INVO Bioscience, Inc. (IVF) filed a Annual Report (10-K) with the SEC on April 16, 2024. INVO Bioscience, Inc. filed its 2023 Form 10-K on April 16, 2024, reporting on the fiscal year ending December 31, 2023. The company's business address is 5582 Broadcast Court, Sarasota, FL 34240, with a phone number of (978) 878-9505. INVO Bioscience, Inc. was formerly known as EMY'S SALSA AJI DISTRIBUTION COMPANY, INC., with a name change effective November 8, 2007. The filing covers the fiscal year from January 1, 2023, to December 31, 2023, and includes comparative data for prior periods. Key financial data points and disclosures for the fiscal year 2023 are detailed within the report.

Why It Matters

For investors and stakeholders tracking INVO Bioscience, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of INVO Bioscience's financial performance, operational activities, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's health and future prospects. The detailed financial statements and risk factors within the report offer insights into the company's market position, potential challenges, and opportunities within the fertility and women's health sector.

Risk Assessment

Risk Level: medium — INVO Bioscience, Inc. shows moderate risk based on this filing. The company's financial performance and operational status are detailed in this 10-K, which is a standard disclosure for public companies. However, without specific financial figures or operational highlights from the provided text, a precise risk assessment is difficult, but the nature of a 10-K filing implies a need for careful review of potential risks.

Analyst Insight

Investors should carefully review the detailed financial statements and risk factors presented in the 10-K filing to understand the company's performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported fiscal year end)
• 2024-04-16 — Filing Date (Date the 10-K was filed)
• 2023-01-01 — Fiscal Year Start (Start date of the reported fiscal year)
• 0001-39701 — SEC File Number (SEC file number for the company)

Key Players & Entities

• INVO Bioscience, Inc. (company) — Filer name
• EMY'S SALSA AJI DISTRIBUTION COMPANY, INC. (company) — Former company name
• Sarasota, FL (location) — Business and mailing address city and state

FAQ

Industry Context

The filing pertains to INVO Bioscience, Inc., a company operating within the medical instruments and apparatus sector, specifically focusing on fertility and women's health technologies.

Regulatory Implications

This is a standard SEC filing (Form 10-K) required for publicly traded companies to provide an annual overview of their financial condition and business operations.

What Investors Should Do

1. Review the full 10-K document for detailed financial statements and management discussion.
2. Analyze the risk factors section for potential challenges and uncertainties.
3. Compare the 2023 performance against previous years' filings to identify trends.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K
• 2024-04-16: Filing Date — Date the 10-K was officially submitted to the SEC

Year-Over-Year Comparison

This is the initial filing data provided for INVO Bioscience, Inc. for the fiscal year 2023. Comparative data from previous filings would be needed for a direct comparison.

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
• $0.000001 — hare of Class A common stock, par value $0.000001 per share, of NAYA (the "NAYA common st
• $5.00 — preferred stock at a price per share of $5.00 per share, in a private offering result
• $2,000,000 — esulting in an amount equal to at least $2,000,000 of gross proceeds to INVO in the aggreg
• $5,000,000 — specified liabilities, shall not exceed $5,000,000, (6) the receipt of waivers from any an
• $1,000,000 — to pay the Company a termination fee of $1,000,000. If all of the Company's conditions to
• $500,000 — edule") for the initial $2,000,000: (1) $500,000 no later than December 29, 2023, (2) $5
• $306,000 — Stock for additional gross proceeds of $306,000. Wisconsin Fertility Institute Acquis
• $10 m — of WFI for a combined purchase price of $10 million, of which $2.5 million was paid o
• $2.5 million — purchase price of $10 million, of which $2.5 million was paid on the closing date (net cash
• $2,150,000 — on the closing date (net cash paid was $2,150,000 after a $350,000 holdback) plus assumpt
• $350,000 — e (net cash paid was $2,150,000 after a $350,000 holdback) plus assumption of the inter-
• $528,756 — RSA (as defined below) in the amount of $528,756. The remaining three installments of $2
• $125 — n shares of INVO common stock valued at $125.00, $181.80, and $285.80, for the secon

Filing Documents

• form10-k.htm (10-K) — 2459KB
• ex4-1.htm (EX-4.1) — 25KB
• ex21-1.htm (EX-21.1) — 5KB
• ex23-1.htm (EX-23.1) — 3KB
• ex31-1.htm (EX-31.1) — 8KB
• ex31-2.htm (EX-31.2) — 8KB
• ex32-1.htm (EX-32.1) — 4KB
• ex32-2.htm (EX-32.2) — 4KB
• 0001493152-24-014838.txt (&nbsp;) — 10809KB
• invo-20231231.xsd (EX-101.SCH) — 71KB
• invo-20231231_cal.xml (EX-101.CAL) — 89KB
• invo-20231231_def.xml (EX-101.DEF) — 342KB
• invo-20231231_lab.xml (EX-101.LAB) — 586KB
• invo-20231231_pre.xml (EX-101.PRE) — 485KB
• form10-k_htm.xml (XML) — 1668KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 34 Item 1C. Cybersecurity 34 Item 2.

Properties

Properties 34 Item 3.

Legal Proceedings

Legal Proceedings 34 Item 4. Mine Safety Disclosures 34 Part II Item 5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 35 Item 6. [Reserved] 36 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 36 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 54 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 55 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 56 Item 9A.

Controls and Procedures

Controls and Procedures 56 Item 9B. Other Information 57 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 57 Part III Item 10. Directors, Executive Officers and Corporate Governance 57 Item 11. Executive and Director Compensation 57 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 57 Item 13. Certain Relationships and Related Transactions, and Director Independence 57 Item 14. Principal Accountant Fees and Services 57 Part IV Item 15. Exhibits, Financial Statement Schedules 58

SIGNATURES

SIGNATURES 64 2 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain objectives, and expected operating results, and the assumptions upon which those statements are based, are "forward-looking 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words "believes," "project," "expects," "anticipates," "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects on a consolidated basis include, but are not limited to changes in economic conditions, legislative or regulatory changes, availability of capital, interest rates, competition, and the impact of the COVID-19 pandemic on our ability to advance our clinical programs and raise additional financing and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such

View Full Filing

View this 10-K filing on SEC EDGAR