Catheter Precision, Inc. Files 10-Q for Q1 2024

TL;DR

<b>Catheter Precision, Inc. (VTak) reported a net loss of $7.57 million in its Q1 2024 10-Q filing, with total assets of $12.66 million and total debt of $3.70 million.</b>

AI Summary

Catheter Precision, Inc. (VTAK) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Catheter Precision, Inc. (VTak) filed its 10-Q for the period ending March 31, 2024. The company reported a net loss of $7,573,403 for the quarter. Total assets were $12,656,000 as of March 31, 2024. Total debt was $3,703,000 as of March 31, 2024. The filing details various stock compensation plans and awards.

Why It Matters

For investors and stakeholders tracking Catheter Precision, Inc., this filing contains several important signals. The filing provides a detailed look at the company's financial position and performance for the first quarter of 2024, including its net loss and asset/debt levels. Information on stock-based compensation plans and awards is disclosed, which can impact future dilution and executive compensation.

Risk Assessment

Risk Level: medium — Catheter Precision, Inc. shows moderate risk based on this filing. The company reported a significant net loss in the quarter, indicating potential financial strain and a need for future funding or improved profitability.

Analyst Insight

Investors should monitor the company's cash burn rate and future revenue generation to assess its path to profitability.

Financial Highlights

total Assets

12656000

total Debt

3703000

net Income

-7573403

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• $7,573,403 — Net Loss (For the quarter ended March 31, 2024)
• $12,656,000 — Total Assets (As of March 31, 2024)
• $3,703,000 — Total Debt (As of March 31, 2024)

Key Players & Entities

• Catheter Precision, Inc. (company) — Filer name
• VTak (company) — Ticker symbol
• 2024-03-31 (date) — Reporting period end date
• $7,573,403 (dollar_amount) — Net loss for the quarter
• $12,656,000 (dollar_amount) — Total assets as of March 31, 2024
• $3,703,000 (dollar_amount) — Total debt as of March 31, 2024

FAQ

Risk Factors

• Net Loss [high — financial]: The company reported a net loss of $7,573,403 for the quarter ended March 31, 2024.

Industry Context

Catheter Precision, Inc. operates in the medical device industry, specifically focusing on catheter-based technologies.

Regulatory Implications

The filing is a standard 10-Q quarterly report required by the SEC for public companies.

What Investors Should Do

1. Analyze the detailed financial statements for revenue trends and cost structures.
2. Review the Management's Discussion and Analysis for insights into operational performance and future outlook.
3. Assess the impact of stock-based compensation on future share count and dilution.

Key Dates

• 2024-03-31: Quarterly Period End — Financials reported for this period.
• 2024-05-06: Filing Date — 10-Q filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the period ending March 31, 2024, following the previous 10-K filing for the fiscal year ended December 31, 2023.

Key Financial Figures

• $0.0001 — h registered: Common stock, par value $0.0001 per share VTAK NYSE American Indic
• $250,000 — y exceed the federally insured limit of $250,000. Any loss incurred or a lack of access

Filing Documents

• vtak_10q.htm (10-Q) — 1131KB
• vtak_ex311.htm (EX-31.1) — 10KB
• vtak_ex312.htm (EX-31.2) — 9KB
• vtak_ex321.htm (EX-32.1) — 4KB
• vtak_ex322.htm (EX-32.2) — 4KB
• 0001654954-24-005633.txt (&nbsp;) — 6768KB
• rmed-20240331.xsd (EX-101.SCH) — 81KB
• rmed-20240331_lab.xml (EX-101.LAB) — 422KB
• rmed-20240331_cal.xml (EX-101.CAL) — 55KB
• rmed-20240331_pre.xml (EX-101.PRE) — 391KB
• rmed-20240331_def.xml (EX-101.DEF) — 270KB
• vtak_10q_htm.xml (XML) — 1113KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION. ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS. 3 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2024 and 2023 6 Notes to Condensed 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. 36 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. 48 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES. 48

OTHER INFORMATION

PART II. OTHER INFORMATION. ITEM 1. LEGAL PROCEEDINGS. 51 ITEM 1A .

RISK FACTORS

RISK FACTORS 51 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. 51 ITEM 3. DEFAULTS UPON SENIOR SECURITIES. 51 ITEM 4. MINE SAFETY DISCLOSURES. 51 ITEM 5. OTHER INFORMATION. 51 ITEM 6. EXHIBITS. 52

SIGNATURES

SIGNATURES 55 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CATHETER PRECISION, INC. Condensed Consolidated Balance Sheets (in thousands, except share data) (Unaudited) March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current Assets Cash and cash equivalents $ 1,491 $ 3,565 Accounts receivable 73 137 Inventories 63 44 Prepaid expenses and other current assets 327 415 Total current assets 1,954 4,161 Property and equipment, net 81 70 Lease right-of-use assets 171 179 Intangible assets, net 25,807 26,318 Other non-current assets 8 8 TOTAL ASSETS $ 28,021 $ 30,736 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 543 $ 464 Accrued expenses 1,640 1,733 Notes payable 74 184 Current portion of operating lease liabilities 93 91 Total current liabilities 2,350 2,472 Royalties payable 7,060 6,974 Operating lease liabilities 87 97 Total liabilities 9,497 9,543 Commitments and contingencies (see Note 17) Stockholders' Equity Preferred Stock, $ 0.0001 par value, 10,000,000 shares authorized Series A Convertible Preferred Stock, $ 0.0001 par value, 7,203 shares designated; 3,703 and 4,578 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively — — Series X Convertible Preferred Stock, $ 0.0001 par value, 15,404 shares designated; 12,656 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively — — Common stock, $ 0.0001 par value, 300,000,000 shares authorized; 7,573,403 and 7,026,627 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 1 1 Additional paid-in capital 296,907 296,901 Accumulated deficit ( 278,384 ) ( 275,709 ) Total stockholders' equity 18,524 21,193 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 28,021 $ 30,736 See accompanying notes to unaudited condensed consolidated financial statements. 3 Table of Contents CATH

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View this 10-Q filing on SEC EDGAR