Non-Invasive Monitoring Systems Enters Material Agreement
Ticker: NIMU · Form: 8-K · Filed: Sep 27, 2024 · CIK: 720762
| Field | Detail |
|---|---|
| Company | Non Invasive Monitoring Systems INC /Fl/ (NIMU) |
| Form Type | 8-K |
| Filed Date | Sep 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $200,000, $25,000.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: NIMS
TL;DR
NIMS just signed a big deal creating a new financial obligation.
AI Summary
On September 25, 2024, Non-Invasive Monitoring Systems, Inc. entered into a material definitive agreement, which also created a direct financial obligation for the registrant. The filing details the specifics of this agreement and its financial implications.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Non-Invasive Monitoring Systems, Inc., which could impact its financial health and future operations.
Risk Assessment
Risk Level: medium — Entering into new material definitive agreements and financial obligations can introduce financial risks and uncertainties for a company.
Key Players & Entities
- Non-Invasive Monitoring Systems, Inc. (company) — Registrant
- September 25, 2024 (date) — Date of earliest event reported
FAQ
What type of material definitive agreement did Non-Invasive Monitoring Systems, Inc. enter into?
The filing states that Non-Invasive Monitoring Systems, Inc. entered into a material definitive agreement, but the specific nature of the agreement is not detailed in the provided text.
What is the nature of the direct financial obligation created by this agreement?
The filing confirms the creation of a direct financial obligation for the registrant, but the specific terms and amount of this obligation are not provided in the excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on September 25, 2024.
What is the company's state of incorporation and fiscal year end?
Non-Invasive Monitoring Systems, Inc. is incorporated in Florida and its fiscal year ends on July 31.
What is the company's SIC code and industry?
The company's Standard Industrial Classification (SIC) code is 3845, which falls under Electromedical & Electrotherapeutic Apparatus.
Filing Stats: 563 words · 2 min read · ~2 pages · Grade level 9.9 · Accepted 2024-09-27 08:01:25
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share NIMU OTC Pink Indicate
- $200,000 — ted September 25, 2024 in the Amount of $200,000. On September 25, 2024, Non-Invasive
- $25,000.00 — missory Note in the principal amount of $25,000.00 with Frost Gamma Investments Trust (the
Filing Documents
- form8-k.htm (8-K) — 38KB
- ex10-1.htm (EX-10.1) — 17KB
- 0001493152-24-038425.txt ( ) — 228KB
- nimu-20240925.xsd (EX-101.SCH) — 3KB
- nimu-20240925_lab.xml (EX-101.LAB) — 33KB
- nimu-20240925_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
03
Item 2.03. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. Promissory Noted dated September 25, 2024 in the Amount of $200,000. On September 25, 2024, Non-Invasive Monitoring Systems, Inc. ("NIMS") entered into a Promissory Note in the principal amount of $25,000.00 with Frost Gamma Investments Trust (the "2024 Frost Gamma Note"), a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of NIMS' common stock. The interest rate payable by NIMS on the 2024 Frost Gamma Note is 11% per annum, payable on the maturity date of July 31, 2025 (the "Maturity Date"). The 2024 Frost Gamma Note may be prepaid in advance of the Maturity Date without penalty. The foregoing is only a brief summary of some of the terms of the 2024 Frost Gamma Note and does not purport to be complete. Please refer to the Frost Gamma Note, which is attached as Exhibit 10.1 for its full terms. Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Promissory Note of Non-Invasive Monitoring Systems, Inc. in favor of Frost Gamma Investments Trust dated September 25, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Non-Invasive Monitoring Systems, Inc. September 27, 2024 By: /s/ James J. Martin Name: James J. Martin Title: Chief Financial Officer