NIMS Files 2024 10-K Detailing Financials

TL;DR

NIMS 2024 10-K is in! Check financials for FY ending 7/31/24.

AI Summary

Non Invasive Monitoring Systems Inc. (NIMS) filed its 10-K for the fiscal year ending July 31, 2024. The company, formerly known as BIRDFINDER CORP, is based in Miami Beach, Florida, and operates in the electromedical apparatus industry. The filing details financial data for the fiscal years 2022, 2023, and 2024, including information on common stock, preferred stock (Series B), additional paid-in capital, and retained earnings.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Non Invasive Monitoring Systems Inc.'s financial health and performance for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the specific financial performance and future outlook are not detailed here, requiring further analysis.

Key Numbers

• 2024-07-31 — Fiscal Year End (The report covers the period up to this date.)
• 2024-10-25 — Filing Date (The date the 10-K was submitted to the SEC.)
• 0000720762 — Central Index Key (Unique identifier for the filer.)

Key Players & Entities

• NON INVASIVE MONITORING SYSTEMS INC /FL/ (company) — Filer
• BIRDFINDER CORP (company) — Former company name
• Miami Beach, Florida (location) — Company address
• 2024-07-31 (date) — Fiscal year end
• 2024-10-25 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock $0.01 par value per share NIMU OTC Pink
• $113,000 — years ended July 31, 2024 and 2023 were $113,000 and $199,000 respectively. As of July 3
• $199,000 — uly 31, 2024 and 2023 were $113,000 and $199,000 respectively. As of July 31, 2024, we h
• $29.0 million — 2024, we had an accumulated deficit of $29.0 million. The Company had $25,000 of cash at Jul
• $25,000 — ficit of $29.0 million. The Company had $25,000 of cash at July 31, 2024 and negative w
• $127,000 — gative working capital of approximately $127,000. Absent additional equity or debt finan
• $5.00 — other things, the stock price is below $5.00 per share, it is not listed on a nation
• $0.00 — of our common stock has ranged between $0.00 and $0.04 for the 52-week period ended
• $0.04 — mmon stock has ranged between $0.00 and $0.04 for the 52-week period ended July 31, 2
• $0 — 16 the office space rent was reduced to $0 per month. Item 3. Legal Proceedings.
• $177,000 — strative ("G&A") costs and expenses was $177,000 for the year ended July 31, 2024, as co
• $169,000 — ear ended July 31, 2024, as compared to $169,000 for the year ended July 31, 2023. This
• $8,000 — for the year ended July 31, 2023. This $8,000 net increase was primarily associated w
• $118,000 — adjustment resulting in a reduction of $118,000 was made in the year ended July 31, 202
• $59,000 — expenses from continuing operations was $59,000 for the year ended July 31, 2024, as co

Filing Documents

• form10-k.htm (10-K) — 607KB
• ex10-103.htm (EX-10.103) — 16KB
• ex21-1.htm (EX-21.1) — 6KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 20KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-042532.txt ( ) — 2893KB
• nimu-20240731.xsd (EX-101.SCH) — 22KB
• nimu-20240731_cal.xml (EX-101.CAL) — 34KB
• nimu-20240731_def.xml (EX-101.DEF) — 80KB
• nimu-20240731_lab.xml (EX-101.LAB) — 217KB
• nimu-20240731_pre.xml (EX-101.PRE) — 175KB
• form10-k_htm.xml (XML) — 229KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations. 8 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 9 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 10 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 23 Item 9A(T).

Controls and Procedures

Controls and Procedures. 23 Item 9B. Other Information. 23 ITEM 9C. Disclosure regarding foreign jurisdictions that prevent inspections 23 PART III 24 Item 10. Directors, Executive Officers and Corporate Governance. 24 Item 11.

Executive Compensation

Executive Compensation. 27 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. 28 Item 13. Certain Relationships and Related Transactions, and Director Independence. 29 Item 14. Principal Accountant Fees and Services. 29 PART IV 30 Item 15. Exhibits, Financial Statement Schedules 30

SIGNATURES

SIGNATURES 31 2 CAUTIONARY This Annual Report on Form 10-K contains, in addition to historical information, certain forward-looking statements about our expectations, beliefs or intentions regarding, among other things, our business, financial results, strategies or prospects. You can identify forward-looking relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause our actual activities or results to differ materially from the activities and results described in forward-looking statements. These factors include those set forth below as well as those contained in "Item 1A - Risk Factors" of this Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission ("SEC"). We do not undertake any obligation to update forward-looking statements, except as required by applicable law. These forward-looking statements reflect our views only as of the date they are made with respect to future events and financial performance. Risks and uncertainties, the occurrence of which could adversely affect our business, include the following: We have a history of operating losses, we do not expect to become profitable in the near future and absent additional equity or debt financing, we may be unable to continue as a going concern. We will require additional funding, which may not be available to us on acceptable terms, or at all. We do not anticipate paying dividends on our common stock in the foreseeable future.

View Full Filing

View this 10-K filing on SEC EDGAR