NIMS Files Q3 10-Q for Period Ending April 30, 2024

TL;DR

NIMS Q3 10-Q filed. Financials for period ending 4/30/24 are in.

AI Summary

Non Invasive Monitoring Systems Inc. (NIMS) filed its Q3 10-Q for the period ending April 30, 2024. The company, formerly Birdfinder Corp, is based in Miami Beach, FL, and operates in the electromedical apparatus sector. The filing covers financial data and operational updates for the third quarter of their fiscal year.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Non Invasive Monitoring Systems Inc., crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — The company's financial health and operational performance are subject to the typical risks associated with the medical device industry, including regulatory hurdles and market competition.

Key Numbers

• 2024-04-30 — Fiscal Period End (Third quarter reporting period)
• 2024-06-07 — Filing Date (Date the 10-Q was submitted to the SEC)
• 0731 — Fiscal Year End (Indicates the end of the company's annual financial reporting cycle)

Key Players & Entities

• NON INVASIVE MONITORING SYSTEMS INC /FL/ (company) — Filer
• BIRDFINDER CORP (company) — Former Company Name
• MIAMI BEACH, FL (location) — Business Address
• 3845 (industry_code) — Standard Industrial Classification

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock $0.01 par value per share NIMU OTC Pink
• $30,000 — xpenses from continuing operations were $30,000 and $146,000 for the three and nine mon
• $146,000 — continuing operations were $30,000 and $146,000 for the three and nine months ended Apr
• $31,000 — 30, 2024, respectively, as compared to $31,000 and $136,000 for the three and nine mon
• $136,000 — espectively, as compared to $31,000 and $136,000 for the three and nine months ended Apr
• $1,000 — ended April 30, 2023, respectively. The $1,000 decrease for the three months ended was
• $10,000 — primarily due to timing of expenses and $10,000 increase for the nine months ended was
• $14,000 — Interest expense. Interest expense was $14,000 and $40,000 for the three and nine mont
• $40,000 — pense. Interest expense was $14,000 and $40,000 for the three and nine months ended Apr
• $8,000 — 30, 2024, respectively, as compared to $8,000 and $22,000 for the three and nine mont
• $22,000 — respectively, as compared to $8,000 and $22,000 for the three and nine months ended Apr
• $44,000 — al statements. Net loss. Net loss was $44,000 and $186,000 for the three and nine mon
• $186,000 — s. Net loss. Net loss was $44,000 and $186,000 for the three and nine months ended Apr
• $39,000 — 30, 2024, respectively, as compared to $39,000 and $158,000 for the three and nine mon
• $158,000 — espectively, as compared to $39,000 and $158,000 for the three and nine months ended Apr

Filing Documents

• form10-q.htm (10-Q) — 372KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 5KB
• 0001493152-24-023120.txt ( ) — 1785KB
• nimu-20240430.xsd (EX-101.SCH) — 13KB
• nimu-20240430_cal.xml (EX-101.CAL) — 20KB
• nimu-20240430_def.xml (EX-101.DEF) — 48KB
• nimu-20240430_lab.xml (EX-101.LAB) — 120KB
• nimu-20240430_pre.xml (EX-101.PRE) — 93KB
• form10-q_htm.xml (XML) — 146KB

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 (In thousands, except share and per share data) April 30, 2024 July 31, 2023 (Unaudited) ASSETS Current assets Cash $ 64 $ 7 Prepaid expenses 16 16 Total current assets 80 23 Total assets $ 80 $ 23 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities Accounts payable and accrued expenses $ 242 $ 240 Current liabilities – discontinued operations 51 51 Total current liabilities 293 291 Notes payable – related parties 500 300 Accrued interest – related parties 85 44 Total liabilities 878 635 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 $ 100 per share - - Common Stock, par value $ 0.01 per share; 400,000,000 shares authorized; 154,810,655 shares issued and outstanding as of April 30, 2024 and July 31, 2023 1,548 1,548 Additional paid in capital 26,574 26,574 Accumulated deficit ( 28,920 ) ( 28,734 ) Total shareholders' deficit ( 798 ) ( 612 ) Total liabilities and shareholders' deficit $ 80 $ 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 April 30, Nine months ended April 30, 2024 2023 2024 2023 Operating costs and expenses General and administrative $ 30 $ 31 $ 146 $ 136 Total operating costs and expenses 30 31 146 136 Operating loss ( 30 ) ( 31 ) ( 146 ) ( 136 ) Interest expense ( 14 ) ( 8 ) ( 40 ) ( 22 ) Net loss $ ( 44 ) $ ( 39 ) $ ( 186 ) $ ( 158 ) Weighted average number of common shares outstanding - Basic and diluted 154,811 154,811 154,81

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