Know Labs, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Know Labs, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, providing an update on its financial status and business operations.</b>

AI Summary

KNOW LABS, INC. (USBC) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Know Labs, Inc. reported financial results for the period ending March 31, 2024. The company's fiscal year ends on September 30. The filing is a 10-Q, indicating a quarterly report. The company was formerly known as VISUALANT INC. The business address is located in Seattle, WA.

Why It Matters

For investors and stakeholders tracking KNOW LABS, INC., this filing contains several important signals. This 10-Q filing provides investors with crucial, up-to-date financial information and operational details for Know Labs, Inc. for the quarter ending March 31, 2024. Understanding the company's financial health and strategic direction through this filing is essential for current and potential investors to make informed decisions.

Risk Assessment

Risk Level: low — KNOW LABS, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediately apparent significant negative or positive financial events or disclosures that would elevate the risk level.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to assess the company's performance and future outlook.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-15 — Filing Date (Date the report was filed)
• 0930 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• KNOW LABS, INC. (company) — Filer name
• USBC (company) — Ticker symbol
• 10-Q (regulator) — Form type
• 2024-03-31 (date) — Period of report
• 2024-05-15 (date) — Filing date
• VISUALANT INC (company) — Former company name
• NV (location) — State of incorporation
• SEATTLE (location) — City

FAQ

Industry Context

Know Labs, Inc. operates in the technology sector, focusing on developing and commercializing non-invasive diagnostic technology.

Regulatory Implications

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

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and profitability.
2. Review management's discussion and analysis (MD&A) for insights into business performance and strategy.
3. Check for any new disclosures regarding risks, legal matters, or significant business developments.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-15: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending March 31, 2024. Previous filings would include the 10-Q for the period ending December 31, 2023, and the 10-K for the fiscal year ending September 30, 2023.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share KNW NYSE American LLC In
• $14,400,000 — in the aggregate principal amount of up $14,400,000 for an aggregate purchase price equal t
• $12,000,000 — aggregate purchase price equal to up to $12,000,000 and common stock purchase warrants and
• $4,800,000 — tock purchase warrants and (b) issued a $4,800,000 Note and the Warrant to the selling sto
• $4,000,000 — der in exchange for a purchase price of $4,000,000 and net proceeds of $3,805,699 . See No
• $3,805,699 — price of $4,000,000 and net proceeds of $3,805,699 . See Note 6. On March 20, 2024, the C
• $1.00 — ts common stock at the current price of $1.00 per share reserved and are issuable upo

Filing Documents

• knwn_10q.htm (10-Q) — 908KB
• knwn_ex311.htm (EX-31.1) — 12KB
• knwn_ex312.htm (EX-31.2) — 14KB
• knwn_ex321.htm (EX-32.1) — 5KB
• knwn_ex322.htm (EX-32.2) — 5KB
• knwn_10qimg38.jpg (GRAPHIC) — 6KB
• 0001654954-24-006410.txt (&nbsp;) — 4389KB
• knwn-20240331.xsd (EX-101.SCH) — 46KB
• knwn-20240331_lab.xml (EX-101.LAB) — 284KB
• knwn-20240331_cal.xml (EX-101.CAL) — 38KB
• knwn-20240331_pre.xml (EX-101.PRE) — 253KB
• knwn-20240331_def.xml (EX-101.DEF) — 172KB
• knwn_10q_htm.xml (XML) — 542KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Consolidated Balance Sheets as of March 31, 2024 and September 30, 2023 3 Consolidated Statements of Operations for the three and six months ended March 31, 2024 and 2023 4 Consolidated Statements of Changes in Stockholders' (Deficit) Equity 5 Consolidated Statements of Cash Flows for the six months ended March 31, 2024 and 2023 6 Notes to the Financial Statements 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 18 ITEM 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 ITEM 4

Controls and Procedures

Controls and Procedures 29 PART II OTHER INFORMATION 30 ITEM 1A.

Risk Factors

Risk Factors 30 ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds 31 ITEM 3 Defaults upon Senior Securities 31 ITEM 4 Other Information 31 ITEM 6 Exhibits 32

SIGNATURES

SIGNATURES 33 2 Table of Contents ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS KNOW LABS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS Unaudited March 31, 2024 September 30, 2023 (1) ASSETS Unaudited CURRENT ASSETS: Cash and cash equivalents $ 4,709,690 $ 8,023,716 Total current assets 4,709,690 8,023,716 PROPERTY AND EQUIPMENT, NET 55,655 81,325 OTHER ASSETS Other assets 163,628 15,766 Operating lease right-of-use asset 9,175 145,090 TOTAL ASSETS $ 4,938,148 $ 8,265,897 LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY CURRENT LIABILITIES: Accounts payable - trade $ 1,031,600 $ 1,292,861 Accrued expenses 98,954 94,062 Accrued expenses - related parties 97,822 218,334 Current portion of convertible notes payable, net 3,819,660 2,761,931 Current portion of operating lease right-of-use liability 14,500 154,797 Total current liabilities 5,062,536 4,521,985 NON-CURRENT LIABILITIES: Non-current portion of convertible notes payable, net 1,629,586 - Total liabilities 6,692,122 4,521,985 COMMITMENTS AND CONTINGENCIES (Note 11) STOCKHOLDERS' (DEFICIT) EQUITY Preferred stock - $ 0.001 par value, 5,000,000 shares authorized, Series C and D shares issued and outstanding as follows: Series C Convertible Preferred stock $ 0.001 par value, 30,000 shares authorized, 17,858 shares issued and outstanding at 3/31/2024 and 9/30/2023, respectively 1,790 1,790 Series D Convertible Preferred stock $ 0.001 par value, 20,000 shares authorized, 10,161 shares issued and outstanding at 3/31/2024 and 9/30/2023, respectively 1,015 1,015 Common stock - $ 0.001 par value, 200,000,000 shares authorized, 82,512,166 and 80,358,463 shares issued and outstanding at 3/31/2024 and 9/30/2023, respectively 82,512 80,358 Additional paid in capital 129,008,023 125,501,537 Accumulated deficit ( 130,847,314 ) ( 121,840,788 ) Total stockholders' (deficit) equity ( 1,753,974 ) 3,743,912 TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY $ 4

View Full Filing

View this 10-Q filing on SEC EDGAR