Non-Invasive Monitoring Systems Enters Material Agreement
Ticker: NIMU · Form: 8-K · Filed: Jan 24, 2025 · CIK: 720762
| Field | Detail |
|---|---|
| Company | Non Invasive Monitoring Systems INC /Fl/ (NIMU) |
| Form Type | 8-K |
| Filed Date | Jan 24, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $40,000, $40,000.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
NIMS just signed a big deal, creating a new financial obligation.
AI Summary
On January 23, 2025, Non-Invasive Monitoring Systems, Inc. entered into a material definitive agreement. This agreement also created a direct financial obligation for the registrant. The company is incorporated in Florida and its principal executive offices are located at 4400 Biscayne Blvd., Suite 180, Miami, Florida 33137.
Why It Matters
This filing indicates a significant new commitment or obligation for Non-Invasive Monitoring Systems, Inc., which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to performance, financing, and market conditions.
Key Players & Entities
- Non-Invasive Monitoring Systems, Inc. (company) — Registrant
- January 23, 2025 (date) — Date of earliest event reported
- Florida (jurisdiction) — State of incorporation
- 4400 Biscayne Blvd., Suite 180, Miami, Florida 33137 (address) — Principal executive offices
FAQ
What is the nature of the material definitive agreement entered into by Non-Invasive Monitoring Systems, Inc.?
The filing states that Non-Invasive Monitoring Systems, Inc. entered into a material definitive agreement on January 23, 2025, but the specific details of the agreement are not provided in this summary.
What type of financial obligation was created by this agreement?
The filing indicates the creation of a 'Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant', but the exact nature and amount are not specified.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on January 23, 2025.
Where are the principal executive offices of Non-Invasive Monitoring Systems, Inc. located?
The principal executive offices are located at 4400 Biscayne Blvd., Suite 180, Miami, Florida 33137.
What is the Standard Industrial Classification (SIC) code for Non-Invasive Monitoring Systems, Inc.?
The SIC code is 3845, which corresponds to ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS.
Filing Stats: 563 words · 2 min read · ~2 pages · Grade level 10 · Accepted 2025-01-24 16:30:37
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share NIMU OTC Pink Indicate
- $40,000 — dated January 23, 2025 in the Amount of $40,000. On January 23, 2025, Non-Invasive Mo
- $40,000.00 — missory Note in the principal amount of $40,000.00 with Frost Gamma Investments Trust (the
Filing Documents
- form8-k.htm (8-K) — 38KB
- ex10-1.htm (EX-10.1) — 16KB
- 0001493152-25-003594.txt ( ) — 225KB
- nimu-20250123.xsd (EX-101.SCH) — 3KB
- nimu-20250123_lab.xml (EX-101.LAB) — 33KB
- nimu-20250123_pre.xml (EX-101.PRE) — 22KB
- 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 January 23, 2025 in the Amount of $40,000. On January 23, 2025, Non-Invasive Monitoring Systems, Inc. ("NIMS") entered into a Promissory Note in the principal amount of $40,000.00 with Frost Gamma Investments Trust (the "2025 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 2025 Frost Gamma Note is 11% per annum, payable on the maturity date of July 31, 2025 (the "Maturity Date"). The 2025 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 2025 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 January 23, 2025 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. January 24, 2025 By: /s/ James J. Martin Name: James J. Martin Title: Chief Financial Officer