Richtech Robotics Inc. Files 10-K Amendment

TL;DR

Richtech Robotics filed its 2024 10-K amendment. Check for updates.

AI Summary

Richtech Robotics Inc. filed an amendment (No. 1) to its annual report on Form 10-K for the fiscal year ended September 30, 2024. The filing, submitted on February 7, 2025, pertains to the company's operations and financial status. Richtech Robotics Inc. is incorporated in Nevada and its principal executive offices are located in Las Vegas.

Why It Matters

This amendment provides updated information for investors and stakeholders regarding Richtech Robotics Inc.'s financial performance and operational status for the fiscal year 2024.

Risk Assessment

Risk Level: low — This filing is an amendment to a routine annual report and does not appear to contain significant new negative information.

Key Numbers

• 001-41866 — Commission File Number (Identifies the company's filing with the SEC.)
• 0930 — Fiscal Year End (Indicates the end of the reporting period for the annual report.)
• 20250207 — Filing Date (The date the amendment was officially submitted to the SEC.)

Key Players & Entities

• RICHTECH ROBOTICS INC. (company) — Registrant
• 001-41866 (company) — Commission file number
• 88-2870106 (company) — I.R.S. Employer Identification No.
• Nevada (company) — State of incorporation
• 4175 Cameron St Ste 1 Las Vegas, NV 89103 (company) — Address of principal executive offices
• 20240930 (date) — Fiscal year end
• 20250207 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — tered: Class B Common Stock, par value $0.0001 per share RR The Nasdaq Stock Market LL
• $1.35 — hare and accompanying Common Warrant of $1.35. The Pre-Funded Warrants were exercisab
• $0.00001 — ate of issuance at an exercise price of $0.00001 per share and may be exercised at any t
• $80,000 — ing its legal counsel, in the amount of $80,000 and an additional $15,950 for its clear
• $15,950 — the amount of $80,000 and an additional $15,950 for its clearing expenses. The Placemen
• $19.4 million — d offering expenses, were approximately $19.4 million. The Company intends to use the net pro
• $23.13 — ny received aggregate gross proceeds of $23.13 in connection with the exercises of the
• $13.2 million — for aggregate proceeds of approximately $13.2 million. The Placement Agent is entitled to 7%
• $857,000 — s. In fiscal year 2024, we accomplished $857,000 in revenue from leasing ADAM for events

Filing Documents

• ea0230367-10ka1_richtech.htm (10-K/A) — 993KB
• ea023036701ex31-1_richtech.htm (EX-31.1) — 10KB
• ea023036701ex31-2_richtech.htm (EX-31.2) — 11KB
• ea023036701ex32-1_richtech.htm (EX-32.1) — 6KB
• ea023036701ex32-2_richtech.htm (EX-32.2) — 5KB
• ea023036701ex97_richtech.htm (EX-97) — 18KB
• image_001.jpg (GRAPHIC) — 32KB
• image_002.jpg (GRAPHIC) — 31KB
• image_003.jpg (GRAPHIC) — 22KB
• 0001213900-25-011327.txt ( ) — 4048KB
• rr-20240930.xsd (EX-101.SCH) — 24KB
• rr-20240930_cal.xml (EX-101.CAL) — 47KB
• rr-20240930_def.xml (EX-101.DEF) — 143KB
• rr-20240930_lab.xml (EX-101.LAB) — 266KB
• rr-20240930_pre.xml (EX-101.PRE) — 148KB
• ea0230367-10ka1_richtech_htm.xml (XML) — 248KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 22 Item 1B. Unresolved Staff Comments 40 Item 1C Cybersecurity 40 Item 2.

Properties

Properties 41 Item 3.

Legal Proceedings

Legal Proceedings 41 Item 4. Mine Safety Disclosures 41 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 42 Item 6. Reserved 43 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 43 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 48 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 48 Item 9A.

Controls and Procedures

Controls and Procedures 49 Item 9B. Other Information 50 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 50 PART III Item 10. Directors, Executive Officers and Corporate Governance 51 Item 11.

Executive Compensation

Executive Compensation 59 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 65 Item 13. Certain Relationships and Related Transactions, and Director Independence 66 Item 14. Principal Accounting Fees and Services 67 PART IV Item 15. Exhibits and Financial Statement Schedules F-1 Item 16. Form 10-K Summary 68 i PART I CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Report") contains forward-looking statements that involve risks and uncertainties. You should not place undue reliance on these forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking Discussion and Analysis of Financial Condition and Result of Operations" sections, as well as those discussed elsewhere in this Report. In some cases, you can identify these forward-looking statements by terms such as "anticipate," "believe," "continue," "could," "depends," "estimate," "expects," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would" or the negative of those terms or other similar expressions, although not all forward-looking Our operations and business prospects are always subject to risks and uncertainties including, among others: Our ability to secure raw materials and components to manufacture sufficient quantities of robots to match demand; Our ability to secure enterprise clients and deals in the face of growing competition; Assumptions around the speed of robotic adoption in service environments; Assumptions relating to the size of the market for our products and services; Unanticipated regulations of robots and automation that add barriers to adoption and have a negative effect on our business; Our ability to obtain and maintain intellectual property protection for o

Business

ITEM 1. Business Overview We are a developer of advanced robotic technologies focused on transforming labor-intensive services in hospitality and other sectors currently experiencing unprecedented labor shortages. With a global R&D team based out of China and the United States, we design, manufacture and sell robots to restaurants, hotels, senior living centers, casinos, factories, movie theaters and other businesses. Our robots perform a variety of services including restaurant running and bussing, hotel room service delivery, floor scrubbing and vacuuming, and beverage and food preparation. We design our robots to be friendly, customizable to client environments, and extremely reliable. For example, our food service delivery robots typically make over 1000 deliveries every month in busy environments, while our medical robots are utilized for tasks such as delivering medications and supplies in hospitals, enhancing operational efficiency. Our current customer base includes major hotel brands, national chain restaurants, leading senior care facilities, and top casino management companies, and prominent healthcare institutions. Our mission is to integrate robotics and automation into our everyday lives. We envision ourselves becoming the first robotics "Super-operator," where thousands of our robots are deployed out in the field and managed by Richtech's AI Cloud Platform (ACP). As a Super-operator, our robotic fleet will be performing a wide variety of tasks within a business, from completing deliveries and scrubbing floors to cooking noodles, preparing drinks, and supporting logistics in hospitals. Our ACP platform will allow businesses to plug in their robots and immediately leverage an immense amount of data to optimize workflows, lower management complexity, and minimize labor dependency. Recent Developments Ghost Kitchens Letter of Intent On October 16, 2024, we entered into a binding Letter of Intent (the "LOI") with Ghost Kitchens America. Under the

View Full Filing

View this 10-K/A filing on SEC EDGAR