Protagenic Therapeutics, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Protagenic Therapeutics, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial status and corporate history.</b>

AI Summary

Protagenic Therapeutics, Inc.\new (PTIXW) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Protagenic Therapeutics, Inc. filed a 10-Q report for the period ending March 31, 2024. 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 financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023. The SIC code for the company is 2834 (Pharmaceutical Preparations).

Why It Matters

For investors and stakeholders tracking Protagenic Therapeutics, Inc.\new, this filing contains several important signals. This filing provides investors with the latest financial performance and position of Protagenic Therapeutics, Inc. as of Q1 2024. Understanding the company's historical name changes and its SIC code provides context for its business operations and industry classification.

Risk Assessment

Risk Level: low — Protagenic Therapeutics, Inc.\new shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not indicate any unusual events or significant financial distress.

Analyst Insight

Monitor future 10-Q filings for detailed financial performance, including revenue, net income, and any significant operational updates.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-05-15 — Filing Date (10-Q filing)
• 2024-01-01 — Quarter Start Date (10-Q filing)
• 2023-03-31 — Prior Year Period End Date (10-Q filing)

Key Players & Entities

• Protagenic Therapeutics, Inc. (company) — Filer
• Atrinsic, Inc. (company) — Former company name
• NEW MOTION, INC. (company) — Former company name
• MPLC, Inc. (company) — Former company name
• 2834 (other) — Standard Industrial Classification

FAQ

Industry Context

Protagenic Therapeutics operates within the pharmaceutical preparations industry, focusing on the development of therapeutic solutions.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Track future SEC filings for updates on Protagenic Therapeutics' business development and financial performance.
3. Research the company's specific therapeutic areas and pipeline.

Key Dates

• 2024-03-31: Period End Date — End of the first fiscal quarter of 2024.
• 2024-05-15: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing is a standard 10-Q for the first quarter of 2024, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 PTIX Nasdaq Capital Market Commo

Filing Documents

• form10-q.htm (10-Q) — 560KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 20KB
• ex32-1.htm (EX-32.1) — 11KB
• 0001493152-24-019933.txt (&nbsp;) — 3372KB
• ptix-20240331.xsd (EX-101.SCH) — 26KB
• ptix-20240331_cal.xml (EX-101.CAL) — 33KB
• ptix-20240331_def.xml (EX-101.DEF) — 143KB
• ptix-20240331_lab.xml (EX-101.LAB) — 248KB
• ptix-20240331_pre.xml (EX-101.PRE) — 192KB
• form10-q_htm.xml (XML) — 433KB

Financial Statements

Financial Statements: Consolidated Balance Sheets at March 31, 2024 and December 31, 2023 (unaudited) 3 Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2024 and 2023 (unaudited) 4 Consolidated Statements of Changes in Stockholders' Equity for the three months ended March 31, 2024 and 2023 (unaudited) 5 Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (unaudited) 6

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 7 Item 2

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 17 Item 4

Controls and Procedures

Controls and Procedures 17 Part II. Other Information Item 1

Legal Proceedings

Legal Proceedings 18 Item 1A

Risk Factors

Risk Factors 18 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3 Defaults upon Senior Securities 18 Item 4 Mine Safety Disclosures 19 Item 5 Other Information 19 Item 6 Exhibits 19

Signatures

Signatures 20 2 PART I - FINANCIAL INFORMATION Item 1. Financial Statements PROTAGENIC THERAPEUTICS, INC., AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS (unaudited) March 31, 2024 December 31, 2023 ASSETS CURRENT ASSETS Cash $ 831,778 $ 1,287,893 Marketable securities 1,592,025 2,768,119 Prepaid expenses 43,994 144,025 TOTAL CURRENT ASSETS 2,467,797 4,200,037 Equipment - net 110,761 123,332 TOTAL ASSETS $ 2,578,558 $ 4,323,369 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses $ 365,686 $ 439,757 Accounts payable and accrued expenses - related party 80,409 215,495 Accounts payable and accrued expenses 80,409 215,495 TOTAL CURRENT LIABILITIES 446,095 655,252 TOTAL LIABILITIES 446,095 655,252 STOCKHOLDERS' EQUITY Preferred stock, $ 0.000001 par value; 20,000,000 shares authorized; none shares issued and outstanding in the following classes: Preferred stock; par value $ 0.000001 ; 2,000,000 shares authorized; none issued and outstanding - - Series B convertible preferred stock, $ 0.000001 par value; 18,000,000 shares authorized; 0 and 0 shares issued and outstanding at March 31, 2024, and December 31, 2023 - - Preferred stock, value - - Common stock, $ 0.0001 par value, 100,000,000 shares authorized, 4,435,132 and 4,435,132 shares issued and outstanding at March 31, 2024, and December 31, 2023 444 444 Additional paid-in-capital 34,720,952 34,559,091 Accumulated deficit ( 32,502,166 ) ( 30,777,872 ) Accumulated other comprehensive loss ( 86,767 ) ( 113,546 ) TOTAL STOCKHOLDERS' EQUITY 2,132,463 3,668,117 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,578,558 $ 4,323,369 See accompanying notes to the unaudited consolidated financial statements 3 PROTAGENIC THERAPEUTICS, INC., AND SUBSIDIARY CONSOLIDATED (unaudited) 2024 2023 For the three months ended March 31,

View Full Filing

View this 10-Q filing on SEC EDGAR