Pure Bioscience Files 2024 10-K

TL;DR

PURE 10-K filed: FY24 results out, check financials.

AI Summary

Pure Bioscience, Inc. filed its 10-K for the fiscal year ending July 31, 2024, reporting on its operations in the miscellaneous chemical products sector. The company, formerly known as Innovative Medical Services, is based in El Cajon, California. The filing details financial performance and operational aspects for the period.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Pure Bioscience's financial health and strategic direction for the fiscal year 2024, crucial for understanding the company's performance and future prospects.

Risk Assessment

Risk Level: low — This is a standard annual financial filing (10-K) and does not inherently present new risks beyond those already associated with the company's business operations.

Key Numbers

• 2024-07-31 — Fiscal Year End (Reporting period concluded on this date.)
• 2024-10-29 — Filing Date (Date the 10-K was submitted to the SEC.)

Key Players & Entities

• PURE BIOSCIENCE, INC. (company) — Filer
• 2024-07-31 (date) — Fiscal Year End
• 2024-10-29 (date) — Filing Date
• 771 JAMACHA ROAD #512 (address) — Business Address
• EL CAJON (location) — City
• CA (location) — State
• 92019 (zip_code) — Business Zip Code
• 619-596-8600 (phone_number) — Business Phone
• INNOVATIVE MEDICAL SERVICES (company) — Former Company Name

FAQ

Key Financial Figures

• $0.01 — ction 12(g) of the Act: Common Stock, $0.01 par value Indicate by check mark whet

Filing Documents

• form10-k.htm (10-K) — 1497KB
• ex4-3.htm (EX-4.3) — 31KB
• ex23-1.htm (EX-23.1) — 5KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 10KB
• ex32-2.htm (EX-32.2) — 10KB
• form10-k_001.jpg (GRAPHIC) — 106KB
• form10-k_002.jpg (GRAPHIC) — 147KB
• 0001493152-24-042939.txt ( ) — 6316KB
• pure-20240731.xsd (EX-101.SCH) — 30KB
• pure-20240731_cal.xml (EX-101.CAL) — 42KB
• pure-20240731_def.xml (EX-101.DEF) — 172KB
• pure-20240731_lab.xml (EX-101.LAB) — 329KB
• pure-20240731_pre.xml (EX-101.PRE) — 273KB
• form10-k_htm.xml (XML) — 720KB

Business

Business 4 Item 1A. Risk Factors 11 Item 1B. Unresolved Staff Comments 26 Item1C. Cybersecurity 26 Item 2.

Properties

Properties 26 Item 3. Legal Proceedings 26 Item 4. Mine Safety Disclosures 26 Part II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27 Item 6. [Reserved] 28 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 7A. Quantitative and Qualitative Disclosures about Market Risk 34 Item 8. Consolidated

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 34 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 34 Item 9A. Controls and Procedures 34 Item 9B. Other Information 34 Item 9C. Disclosure Regarding Foreign Jurisdiction that Prevent Inspections 34 Part III Item 10. Directors, Executive Officers and Corporate Governance 35 Item 11. Executive Compensation 40 Item 12. Security 45 Item 13. Certain Relationships and Related Transactions, and Director Independence 47 Item 14. Principal Accountant Fees and Services 48 Part IV Item 15. Exhibits and Financial Statement Schedules 49

Signatures

Signatures 51 2 CAUTIONARY Certain of Section 27A of the Securities Act of 1933, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. Forward-looking statements are based upon our current assumptions, expectations and beliefs concerning future developments and their potential effect on our business. In some cases, you can identify forward-looking statements by words such as "if," "shall," "may," "might," "will likely result," "should," "expect," "plan," "anticipate," "believe," "estimate," "project," "intend," "goal," "objective," "predict," "potential" or "continue," or the negative of these terms and other comparable terminology, although the absence of these words does not necessarily mean that a statement is not forward-looking. Additionally, statements concerning future matters such as our business strategy, development of new products, regulatory approvals, sales levels, expense levels, cash flows, future commercial and financing matters, future partnering opportunities and other statements regarding matters that are not historical are forward-looking statements. Although the forward-looking statements in this Annual Report reflect our good faith judgment, based on currently available information, they involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed in the "Risk Factors" contained in Part I, Item 1A of this Annual Report. As a result of these factors, we cannot assure you

Business

Business Strategy Our goal is to establish a sustainable company by commercializing SDC-based products developed through our proprietary technology platform. We aim to deliver leading antimicrobial solutions that tackle food safety risks across the entire food industry supply chain. Our products are sold directly to end-use customers and through our expanding distribution network. Key elements of our business strategy include: 1. Growing and supporting our distribution network. Expanding sales through distribution provides the following: a. Expanded Reach: Distributors often have established networks and customer relationships, allowing us to access new markets and customer segments more efficiently. b. Cost Savings: Utilizing distributors can reduce overhead costs associated with logistics, warehousing, and inventory management. c. Market Knowledge: Distributors typically have local market insights and expertise, helping us navigate regional preferences and regulatory requirements. d. Faster Time to Market: Distributors can accelerate product availability in geographic regions throughout the country, enabling quicker responses and shortening the sales cycle. e. Sales Support: Distributors provide additional sales resources and support, such as training and promotional activities, enhancing product visibility. f. Scalability: Distributors can easily scale operations to accommodate growth without requiring significant investment from the manufacturer. g. Customer Service: Local distributors can offer better customer support, including faster response times and tailored services to meet specific client needs. 2. Continuing to partner with third parties seeking, or intending to seek, approvals to market SDC-based products outside the U.S. 3. Developing additional proprietary products and applications. 4. Protecting and enhancing our intellectual property. In addition to our existing food safety products, we plan to leverage our tech

View Full Filing

View this 10-K filing on SEC EDGAR