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

TL;DR

<b>SenesTech, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations.</b>

AI Summary

SenesTech, Inc. (SNES) filed a Annual Report (10-K) with the SEC on February 21, 2024. SenesTech, Inc. filed its 2023 Form 10-K on February 21, 2024. The company is incorporated in Delaware and operates in the Agriculture Chemicals sector. Its principal business address is in Flagstaff, Arizona. The filing covers the fiscal year ending December 31, 2023. The report includes financial data and operational details for the fiscal year 2023.

Why It Matters

For investors and stakeholders tracking SenesTech, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of SenesTech's financial health and strategic direction for the past fiscal year, crucial for investors assessing its current standing and future prospects. The detailed financial statements and risk factors within the report offer insights into the company's operational performance, market position, and potential challenges, aiding in investment decisions.

Risk Assessment

Risk Level: medium — SenesTech, Inc. shows moderate risk based on this filing. The company's financial performance and future growth are subject to market acceptance of its products and competitive pressures within the pest control industry, as indicated by the business description and industry classification.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand SenesTech's performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-21 — Filing Date (FILED AS OF DATE)
• 84 — Public Document Count (PUBLIC DOCUMENT COUNT)
• 202079805 — IRS Number (IRS NUMBER)

Key Players & Entities

• SenesTech, Inc. (company) — COMPANY CONFORMED NAME
• SNES (company) — Ticker Symbol
• 2023-12-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-02-21 (date) — FILED AS OF DATE
• Flagstaff, AZ (location) — BUSINESS ADDRESS CITY, STATE
• 2870 (industry) — STANDARD INDUSTRIAL CLASSIFICATION

FAQ

Industry Context

SenesTech operates within the pest control industry, specifically focusing on rodent control solutions. The company's products are designed for commercial and residential applications.

Regulatory Implications

The filing is a standard Form 10-K, an annual report required by the U.S. Securities and Exchange Commission (SEC) that gives a comprehensive summary of a company's financial performance.

What Investors Should Do

1. Review SenesTech's detailed financial statements for the fiscal year ended December 31, 2023.
2. Analyze the risk factors section to understand potential challenges and uncertainties facing the company.
3. Compare the 2023 performance metrics with previous years to identify trends and assess growth.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-21: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value SNES The Nasdaq Stock Market
• $27 billion — ery year. Additionally, rats cause over $27 billion in damage to public and private infrast

Filing Documents

• snes-20231231.htm (10-K) — 1392KB
• snes-20231231xex211.htm (EX-21.1) — 3KB
• snes-20231231xex231.htm (EX-23.1) — 2KB
• snes-20231231xex311.htm (EX-31.1) — 9KB
• snes-20231231xex312.htm (EX-31.2) — 9KB
• snes-20231231xex321.htm (EX-32.1) — 5KB
• snes-20231231_g1.jpg (GRAPHIC) — 13KB
• snes-20231231_g2.jpg (GRAPHIC) — 69KB
• snes-20231231_g3.jpg (GRAPHIC) — 49KB
• 0001628280-24-005919.txt (&nbsp;) — 8174KB
• snes-20231231.xsd (EX-101.SCH) — 54KB
• snes-20231231_cal.xml (EX-101.CAL) — 73KB
• snes-20231231_def.xml (EX-101.DEF) — 207KB
• snes-20231231_lab.xml (EX-101.LAB) — 710KB
• snes-20231231_pre.xml (EX-101.PRE) — 441KB
• snes-20231231_htm.xml (XML) — 1132KB

Business

Business 6 Item 1A

Risk Factors

Risk Factors 13 Item 1B Unresolved Staff Comments 29 Item 1C C ybersecurity 29 Item 2

Properties

Properties 29 Item 3

Legal Proceedings

Legal Proceedings 29 Item 4 Mine Safety Disclosures 29 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Item 6 Reserved 30 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 30 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F - 1 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 38 Item 9A

Controls and Procedures

Controls and Procedures 38 Item 9B Other Information 38 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 38 PART III Item 10 Directors, Executive Officers and Corporate Governance 39 Item 11

Executive Compensation

Executive Compensation 39 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 39 Item 13 Certain Relationships and Related Transactions, and Director Independence 39 Item 14 Principal Accounting Fees and Services 39 PART IV Item 15 Exhibits, Financial Statement Schedules 40 Item 16 Form 10-K Summary 43

SIGNATURES

SIGNATURES 44 2 Table of Contents Definitions The abbreviations or acronym defined below are used throughout this Annual Report on Form 10-K: Abbreviation or Acronym Definition ASC Accounting Standards Codification CARES Act Coronavirus Aid, Relief, and Economic Security Act COVID-19 Coronavirus EPA Environmental Protection Agency Exchange Act Securities Exchange Act of 1934, as amended FCPA Foreign Corrupt Practices Act FIFRA Federal Insecticide Fungicide and Rodenticide Act GAAP Generally accepted accounting principles in the United States GRAS Generally recognized as safe IPM Integrated pest management IRC Internal Revenue Code Nasdaq Nasdaq Capital Market PCAOB Public Company Accounting Oversight Board PMP Pest Management Provider PPP Paycheck Protection Program ROU Right-of-use RUP Restricted use product SEC Securities and Exchange Commission VCD Vinylcyclohexene diepoxide 3 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS The statements contained in this Annual Report on Form 10-K that are not historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical facts contained or incorporated herein by reference in this Annual Report on Form 10-K, including statements regarding our future operating results, future financial position, business strategy, objectives, goals, plans, prospects, markets, and plans and objectives for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "anticipates," "believes," "estimates," "expects," "intends," "suggests," "targets," "contemplates," "projects," "predicts," "may," "might," "plan," "would," "should," "could," "can," "potential," "continue," "objective," or the negative of those terms, or similar ex

BUSINESS

ITEM 1. BUSINESS. Overview We have developed and are commercializing products for managing animal pest populations, initially rat populations, through fertility control. We currently have two product lines of fertility control products: ContraPest and Evolve. As far back as we can trace, rats have been foe to mankind. Posing threats to human and animal health, food security, and infrastructure around the world, we have spent centuries trying to solve the problem. Rats carry or can spread at least 35 diseases, globally posing a dangerous risk to public health and safety and agriculture. Through consumption and contamination, rats destroy at least 20% of the global stored food supply every year. Additionally, rats cause over $27 billion in damage to public and private infrastructure annually in the United States alone by burrowing beneath foundations, as well as gnawing on electrical wiring, insulation, fire proofing systems, electronics and computer equipment. Over the centuries, the most prevalent response to rat infestations has been to try to eliminate them through the use of lethal tools such as traps and rodenticides. However, there are growing concerns about secondary exposure and bioaccumulation of rodenticides. While some of these challenges are of recent concern, the efficacy of the response to rat infestations has always been limited by the rat's extraordinary reproductive rate. ContraPest, our initial product, is a novel liquid bait in the pest control industry, containing the active ingredients 4-vinylcyclohexene diepoxide ("VCD") and triptolide. ContraPest targets the reproductive systems of both male and female Norway and roof rats beginning with the first breeding cycle following consumption, which can lead to sustained reductions of the rat population. ContraPest is a highly palatable liquid formulation that reduces fertility in both male and female rats. The high fat content and sweet taste of ContraPest promotes sustained consumption even when

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View this 10-K filing on SEC EDGAR