Non Invasive Monitoring Systems Inc. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Non Invasive Monitoring Systems Inc. filed its Q2 10-Q report on March 15, 2024, detailing financial information for the period ending January 31, 2024.</b>

AI Summary

NON INVASIVE MONITORING SYSTEMS INC /FL/ (NIMU) filed a Quarterly Report (10-Q) with the SEC on March 15, 2024. The company filed a 10-Q report for the period ending January 31, 2024. The filing covers the second quarter of the fiscal year. The company's fiscal year ends on July 31st. The filing was made on March 15, 2024. The company was formerly known as BIRDFINDER CORP.

Why It Matters

For investors and stakeholders tracking NON INVASIVE MONITORING SYSTEMS INC /FL/, this filing contains several important signals. This filing provides investors with updated financial performance and operational details for the second quarter. Understanding the company's financial health and any changes in its capital structure is crucial for investment decisions.

Risk Assessment

Risk Level: low — NON INVASIVE MONITORING SYSTEMS INC /FL/ shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual events or significant financial distress.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to assess the company's performance and outlook.

Key Numbers

• 2024-01-31 — Reporting Period End Date (10-Q filing)
• 2024-03-15 — Filing Date (10-Q filing)
• 0731 — Fiscal Year End (Company data)
• 33139 — Business Zip Code (Company address)

Key Players & Entities

• NON INVASIVE MONITORING SYSTEMS INC /FL/ (company) — Filer
• BIRDFINDER CORP (company) — Former company name
• 3055343694 (dollar_amount) — Business phone number

FAQ

Industry Context

The company operates in the electromedical and electrotherapeutic apparatus industry, specifically within SIC code 3845.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular reporting of financial information.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review any disclosures regarding related party transactions or preferred stock.
3. Compare current period results to prior periods to identify trends.

Key Dates

• 2024-01-31: Period End Date — Covers the second quarter of the fiscal year.
• 2024-03-15: Filing Date — Date the 10-Q was submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing reviewed for the current fiscal year, providing an initial look at performance.

Key Financial Figures

• $0.01 — nge on Which Registered Common Stock, $0.01 par value per share NIMU OTC -Pink
• $40,000 — trative ("G&A") costs and expenses were $40,000 and $115,000 for the three and six mont
• $115,000 — A") costs and expenses were $40,000 and $115,000 for the three and six months ended Janu
• $105,000 — espectively, as compared to $40,000 and $105,000 for the three and six months ended Janu
• $10,000 — ded January 31, 2023, respectively. The $10,000 increase for the six months ended Janua
• $14,000 — related party. Net interest expense was $14,000 and $27,000 for the three and six month
• $27,000 — y. Net interest expense was $14,000 and $27,000 for the three and six months ended Janu
• $8,000 — 31, 2024, respectively, as compared to $8,000 and $14,000 for the three and six month
• $54,000 — al statements. Net loss. Net loss was $54,000 and $142,000 for the three and six mont
• $142,000 — s. Net loss. Net loss was $54,000 and $142,000 for the three and six months ended Janu
• $48,000 — 31, 2024, respectively, as compared to $48,000 and $119,000 for the three and six mont
• $119,000 — espectively, as compared to $48,000 and $119,000 for the three and six months ended Janu
• $6,000 — nded January 31 2023, respectively. The $6,000 and $23,000 increase for the three and
• $23,000 — y 31 2023, respectively. The $6,000 and $23,000 increase for the three and six months e
• $28,876,000 — an accumulated deficit of approximately $28,876,000 as of January 31, 2024. The Company had

Filing Documents

• form10-q.htm (10-Q) — 516KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-010113.txt (&nbsp;) — 1927KB
• nimu-20240131.xsd (EX-101.SCH) — 13KB
• nimu-20240131_cal.xml (EX-101.CAL) — 20KB
• nimu-20240131_def.xml (EX-101.DEF) — 58KB
• nimu-20240131_lab.xml (EX-101.LAB) — 120KB
• nimu-20240131_pre.xml (EX-101.PRE) — 96KB
• form10-q_htm.xml (XML) — 132KB

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 11 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 12 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 12

OTHER INFORMATION

PART II. OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 14 ITEM 1A.

RISK FACTORS

RISK FACTORS 14 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 14 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 14 ITEM 4. MINE SAFETY DISCLOSURES 14 ITEM 5. OTHER INFORMATION 14 ITEM 6. EXHIBITS 14

SIGNATURES

SIGNATURES 15 2 NON-INVASIVE MONITORING SYSTEMS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share and per share data) January 31, 2024 July 31, 2023 ASSETS Current assets Cash $ 75 $ 7 Prepaid expenses 26 16 Total current assets 101 23 Total assets $ 101 $ 23 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities Accounts payable and accrued expenses $ 233 $ 240 Current liabilities – discontinued operations 51 51 Total current liabilities 284 291 Notes payable – related parties 500 300 Accrued interest – related parties 71 44 Total liabilities 855 635 Commitments and contingencies (Note 7) - - Shareholders' deficit Series B Preferred Stock, par value $ 1.00 per share; 100 shares authorized, issued and outstanding; liquidation preference $ 10 - - Common Stock, par value $ 0.01 per share; 400,000,000 shares authorized; 154,810,655 shares issued and outstanding as of January 31, 2024 and July 31, 2023 1,548 1,548 Additional paid in capital 26,574 26,574 Accumulated deficit ( 28,876 ) ( 28,734 ) Total shareholders' deficit ( 754 ) ( 612 ) Total liabilities and shareholders' deficit $ 101 $ 23 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 NON-INVASIVE MONITORING SYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - Unaudited (In thousands, except per share data) 2024 2023 2024 2023 Three months ended January 31, Six months ended January 31, 2024 2023 2024 2023 Operating costs and expenses General and administrative $ 40 $ 40 $ 115 $ 105 Total operating costs and expenses 40 40 115 105 Operating loss ( 40 ) ( 40 ) ( 115 ) ( 105 ) Interest expense – related parties ( 14 ) ( 8 ) ( 27 ) ( 14 ) Net loss $ ( 54 ) $ ( 48 ) $ ( 142 ) $ ( 119 ) Weighted average number of common shares outstanding - Basic and diluted 15

View Full Filing

View this 10-Q filing on SEC EDGAR