Microbot Medical Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Microbot Medical Inc. has filed its 2023 10-K report detailing financial performance and operational data.</b>

AI Summary

Microbot Medical Inc. (MBOT) filed a Annual Report (10-K) with the SEC on March 27, 2024. Microbot Medical Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company's business address is located at 25 Recreation Park Dr, Suite 108, Hingham, MA 02043. Microbot Medical Inc. was formerly known as STEMCELLS INC and CYTOTHERAPEUTICS INC/DE. The filing includes data related to General and Administrative Expenses and Research and Development Expenses for 2023 and 2022. Key financial statement items such as Cash, USTreasurySecurities, and MoneyMarketFunds as of December 31, 2023, and December 31, 2022, are detailed.

Why It Matters

For investors and stakeholders tracking Microbot Medical Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Microbot Medical Inc.'s financial health and operational activities for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The detailed breakdown of expenses, assets, and liabilities in the filing allows stakeholders to understand the company's resource allocation, investment strategies, and overall financial standing.

Risk Assessment

Risk Level: medium — Microbot Medical Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. However, the absence of specific financial performance metrics like revenue or net income in the provided text limits a deeper assessment of the company's current financial health, suggesting potential challenges or a focus on non-financial disclosures in this excerpt.

Analyst Insight

Investors should review the full 10-K filing to understand Microbot Medical Inc.'s financial performance, strategic initiatives, and risk factors for the fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Report period)
• 2024-03-27 — Filing Date (Date of filing)
• 2023-01-01 — Reporting Period Start (Fiscal year 2023)
• 2022-12-31 — Prior Year End (Comparison period)

Key Players & Entities

• Microbot Medical Inc. (company) — Filer name
• STEMCELLS INC (company) — Former company name
• CYTOTHERAPEUTICS INC/DE (company) — Former company name
• 25 RECREATION PARK DR SUITE 108 (location) — Business address
• HINGHAM (location) — Business address city
• MA (location) — Business address state
• 02043 (location) — Business address zip
• 908-938-5561 (phone) — Business phone

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-27: Filing Date — Date Microbot Medical Inc. submitted its 10-K report.

Key Financial Figures

• $0.01 M — ch registered Common Stock, Par value $0.01 MBOT NASDAQ Capital Market Securitie
• $6.75 million — f the SPA and return of the Plaintiffs' $6.75 million purchase price with respect to the Fina
• $2,154,000 — Company paid Plaintiffs an aggregate of $2,154,000 (the "Total Settlement Amount"), consis
• $1,100,000 — d by the Company's insurance carrier of $1,100,000 and 1,005,965 shares of restricted Comp
• $1,054,000 — ated pursuant to the following formula: $1,054,000/[closing price of Company common stock
• $2.20 — 's common stock at an exercise price of $2.20 per share, issued on October 25, 2022,
• $2.075 — 's common stock at an exercise price of $2.075 per share, issued on June 6, 2023, and
• $3.19 — 's common stock at an exercise price of $3.19 per share issued on June 26, 2023 (the
• $1.62 — stock, at a reduced exercised price of $1.62 per share, in consideration for the Com
• $1.50 — 's common stock at an exercise price of $1.50 per share. The closings of the transact

Filing Documents

• form10-k.htm (10-K) — 1883KB
• ex23-1.htm (EX-23.1) — 4KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 20KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• ex97-1.htm (EX-97.1) — 35KB
• fin_001.jpg (GRAPHIC) — 4KB
• fin_002.jpg (GRAPHIC) — 23KB
• 0001493152-24-011521.txt (&nbsp;) — 7463KB
• mbot-20231231.xsd (EX-101.SCH) — 60KB
• mbot-20231231_cal.xml (EX-101.CAL) — 64KB
• mbot-20231231_def.xml (EX-101.DEF) — 205KB
• mbot-20231231_lab.xml (EX-101.LAB) — 408KB
• mbot-20231231_pre.xml (EX-101.PRE) — 308KB
• form10-k_htm.xml (XML) — 1124KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 28 Item 1C Cybersecurity 28 Item 2. Description of Property 28 Item 3.

Legal Proceedings

Legal Proceedings 28 Item 4. Mine Safety Disclosures 28 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29 Item 6. [Reserved] 29 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 29 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 33 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 33 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 33 Item 9A.

Controls and Procedures

Controls and Procedures 34 Item 9B. Other Information 34 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 34 PART III Item 10. Directors, Executive Officers and Corporate Governance 35 Item 11.

Executive Compensation

Executive Compensation 39 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 44 Item 13. Certain Relationships and Related Transactions, and Director Independence 45 Item 14. Principal Accountant Fees and Services 45 PART IV Item 15. Exhibits and Financial Statement Schedules 46 Item 16 Form 10-K Summary 48 i NOTE REGARDING REFERENCES TO OUR COMPANY Throughout this Form 10-K, the words "we," "us," "our," the "Company" and "Microbot" refer to Microbot Medical Inc., including our directly and indirectly wholly owned subsidiary. Unless the context otherwise requires, the historical business, financial statements and operations of Microbot include Microbot Medical Ltd., an Israeli corporation ("Microbot Israel") which became a wholly owned subsidiary of the Company on November 28, 2016. The capitalized term "Merger" refers to the November 28, 2016 merger of C&RD Israel Ltd, a then wholly owned subsidiary of the Company, with and into Microbot Israel, with Microbot Israel surviving as a wholly owned subsidiary of the Company. Risk Factors Summary The following is a summary of the principal risks that could adversely affect our business, operations, and financial results. A more thorough discussion of these and other risks are listed under the section entitled "Risk Factors" commencing on page 13. Risks Relating to Microbot's Financial Position and Need for Additional Capital There is substantial doubt regarding our ability to continue as a going concern. Microbot has had no revenue and has incurred significant operating losses since inception and is expected to continue to incur significant operating losses for the foreseeable future. The Company may never become profitable or, if achieved, be able to sustain profitability. Microbot has a limited operating history outside of being a research and development-stage company, which may make it difficult to evaluate the prospects for the Company's future viability.

View Full Filing

View this 10-K filing on SEC EDGAR