Protagenic Therapeutics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Protagenic Therapeutics, Inc. has filed its 2023 10-K annual report detailing its financial performance and corporate information.</b>

AI Summary

Protagenic Therapeutics, Inc.\new (PTIXW) filed a Annual Report (10-K) with the SEC on April 1, 2024. Protagenic Therapeutics, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 149 Fifth Avenue, Suite 500, New York, NY 10010. Protagenic Therapeutics, Inc. was formerly known as Atrinsic, Inc., NEW MOTION, INC., and MPLC, Inc. The filing includes information on common stock, preferred stock, and warrants.

Why It Matters

For investors and stakeholders tracking Protagenic Therapeutics, Inc.\new, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Protagenic Therapeutics' financial health, operational activities, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The detailed financial statements and risk factors within the report are essential for stakeholders to understand the company's financial position, potential risks, and compliance with regulatory requirements.

Risk Assessment

Risk Level: — Protagenic Therapeutics, Inc.\new shows moderate risk based on this filing. The company's financial performance and future viability are subject to the inherent risks of the pharmaceutical industry, including clinical trial success, regulatory approvals, and market competition, as detailed in the 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Protagenic Therapeutics' current financial standing and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-01 — Filing Date (Date of submission)
• 2023-01-01 — Reporting Period Start Date (Fiscal year start)

Key Players & Entities

• Protagenic Therapeutics, Inc. (company) — Filer name
• Atrinsic, Inc. (company) — Former company name
• NEW MOTION, INC. (company) — Former company name
• MPLC, Inc. (company) — Former company name
• 149 FIFTH AVENUE, SUITE 500, NEW YORK, NY 10010 (address) — Business address

FAQ

Industry Context

Protagenic Therapeutics operates in the pharmaceutical preparations industry, focusing on the development of novel therapeutics.

Regulatory Implications

The company is subject to the regulations of the U.S. Securities and Exchange Commission (SEC) for its public filings, including the annual 10-K report.

What Investors Should Do

1. Review the financial statements for the fiscal year ended December 31, 2023.
2. Analyze the risk factors section to understand potential business challenges.
3. Examine any disclosures regarding executive compensation or significant corporate events.

Year-Over-Year Comparison

This is the annual report for the fiscal year ended December 31, 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 , PTIX Nasdaq Capital Market Commo
• $2.03 — eported on the Nasdaq Capital Market of $2.03 was approximately $ 8,791,847 . As of
• $0 — he registrant's common stock, par value $0.0001, issued and outstanding. DOCUMEN
• $1.8 billion — for GAD therapies was expected to reach $1.8 billion in 2023 and with an anticipated forecas
• $4.3 billion — with an anticipated forecasted value of $4.3 billion by 2033 (https://www.futuremarketinsigh

Filing Documents

• form10-k.htm (10-K) — 1496KB
• ex4-1.htm (EX-4.1) — 38KB
• ex21-1.htm (EX-21.1) — 3KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 20KB
• ex97.htm (EX-97.1) — 31KB
• ex99-1.htm (EX-99.1) — 40KB
• ex99-2.htm (EX-99.2) — 35KB
• ex99-3.htm (EX-99.3) — 18KB
• form10-k_001.jpg (GRAPHIC) — 22KB
• form10-k_002.jpg (GRAPHIC) — 12KB
• form10-k_003.jpg (GRAPHIC) — 20KB
• form10-k_004.jpg (GRAPHIC) — 17KB
• 0001493152-24-012333.txt (&nbsp;) — 5641KB
• ptix-20231231.xsd (EX-101.SCH) — 34KB
• ptix-20231231_cal.xml (EX-101.CAL) — 46KB
• ptix-20231231_def.xml (EX-101.DEF) — 177KB
• ptix-20231231_lab.xml (EX-101.LAB) — 347KB
• ptix-20231231_pre.xml (EX-101.PRE) — 272KB
• form10-k_htm.xml (XML) — 567KB

Business

Business 5 Item 1A Risk Factors 19 Item 1B Unresolved Staff Comments 40 Item 1C Cybersecurity 40 Item 2

Properties

Properties 40 Item 3

Legal Proceedings

Legal Proceedings 40 Item 4 Mine Safety Disclosures 40 PART II 41 Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 41 Item 6 [Reserved] 41 Item 7

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 41 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 44 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 44 Item 9A

Controls and Procedures

Controls and Procedures 45 Item 9B Other Information 46 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 47 PART III 47 Item 10 Directors, Executive Officers and Corporate Governance 47 Item 11

Executive Compensation

Executive Compensation 53 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 55 Item 13 Certain Relationships and Related Transactions, and Director Independence 64 Item 14 Principal Accountant Fees and Services 66 PART IV 66 Item 15 Exhibits and Financial Statement Schedules 66

SIGNATURES

SIGNATURES 69 2 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This report on Form 10-K contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "can," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "seek," "estimate," "continue," "plan," "point to," "project," "predict," "could," "intend," "target," "potential" and other similar words and expressions of the future. The matters discussed in these forward-looking statements are subject to risks, uncertainties and other factors that could cause our actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. As a result, you should not place undue reliance on any forward-looking statements. Except to the limited extent required by applicable law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Risk Factors Summary Below is a summary of material factors that make an investment in our securities speculative or risky. Importan

View Full Filing

View this 10-K filing on SEC EDGAR