Connexa Sports Technologies Files Q1 2025 10-Q

TL;DR

Connexa Sports Tech (formerly Slinger Bag) filed its Q1 2025 10-Q, check financials.

AI Summary

Connexa Sports Technologies Inc. filed its 10-Q for the period ending July 31, 2024. The company, formerly known as Slinger Bag Inc., is incorporated in Delaware and operates in the manufacturing sector. The filing covers the first quarter of fiscal year 2025, with financial data presented as of July 31, 2024, and comparative periods.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Connexa Sports Technologies Inc., crucial for assessing the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal significant operational or financial risks for Connexa Sports Technologies Inc.

Key Numbers

• Q1 2025 — Fiscal Quarter (Reporting period)
• 0430 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• Connexa Sports Technologies Inc. (company) — Filer
• Slinger Bag Inc. (company) — Former company name
• July 31, 2024 (date) — End of reporting period
• 20240910 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value YYAI Nasdaq Capital Mark
• $30 billion — rael announced its intent to sell up to $30 billion order to protect the New Israeli Shekel

Filing Documents

• form10-q.htm (10-Q) — 1014KB
• ex3-1.htm (EX-3.1) — 15KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-035597.txt ( ) — 4922KB
• yyai-20240731.xsd (EX-101.SCH) — 37KB
• yyai-20240731_cal.xml (EX-101.CAL) — 48KB
• yyai-20240731_def.xml (EX-101.DEF) — 158KB
• yyai-20240731_lab.xml (EX-101.LAB) — 309KB
• yyai-20240731_pre.xml (EX-101.PRE) — 232KB
• form10-q_htm.xml (XML) — 626KB

controls and procedures;

controls and procedures; risk that we fail to meet the requirements of the agreements under which we acquired our business interests, including any cash payments to the business operations, which could result in the loss of our right to continue to operate or develop the specific businesses described in the agreements; risk that we will be unable to secure additional financing in the near future in order to commence and sustain our planned development and growth plans; risk that we cannot attract, retain and motivate qualified personnel, particularly employees, consultants and contractors for our operations; risks and uncertainties relating to the various industries and operations we are currently engaged in; results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future growth, development or expansion will not be consistent with our expectations; risks related to the inherent uncertainty of business operations including profit, cost of goods, production costs and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price fluctuations; the uncertainty of profitability based upon our history of losses; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms for our planned development projects; risks related to environmental regulation and liability; risks related to tax assessments; and other risks and uncertainties related to our prospects, properties and business strategy. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Except as required by law, we do not undertake to update or revise any of the forward-looking statements to conform these statements to actual

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION: F-1

Consolidated Financial Statements (Unaudited)

Item 1. Consolidated Financial Statements (Unaudited) F-1

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 1

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 11

Controls and Procedures

Item 4. Controls and Procedures 11

– OTHER INFORMATION

PART II – OTHER INFORMATION: 12

Legal Proceedings

Item 1. Legal Proceedings 12

Risk Factors

Item 1A. Risk Factors 12

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34

Exhibits

Item 6. Exhibits 35

SIGNATURES

SIGNATURES 36 ii PART I – FINANCIAL INFORMATION Item 1. Consolidated Financial Statements CONNEXA SPORTS TECHNOLOGIES, INC. CONSOLIDATED BALANCE SHEETS (IN US$) JULY 31, 2024 AND APRIL 30, 2024 JULY 31, APRIL 30, 2024 2024 (UNAUDITED) (AUDITED) ASSETS Current Assets: Cash and cash equivalents $ 1,711,283 $ 229,705 Investment, at cost 16,500,000 16,500,000 Accounts receivable, net 258,273 273,874 Inventories, net 1,660,847 1,609,196 Prepaid inventory 884,266 810,978 Prepaid expenses and other current assets 169,731 197,871 Total Current Assets 21,184,400 19,621,624 Non-Current Assets: Note receivable - former subsidiary 2,000,000 2,000,000 Intangible assets, net of amortization 1,000 1,000 Total Non-Current Assets 2,001,000 2,001,000 TOTAL ASSETS $ 23,185,400 $ 21,622,624 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES Current Liabilities: Accounts payable $ 4,932,295 $ 4,704,596 Accrued expenses 4,167,750 3,405,372 Accrued interest 676,285 - Accrued interest - related party 917,957 917,957 Accrued interest 917,957 917,957 Current portion of notes payable, net of discount 1,561,295 1,564,513 Current portion of notes payable - related parties 1,169,291 1,169,291 Current portion of notes payable 1,169,291 1,169,291 Derivative liabilities 5,279 5,433 Contingent consideration - Other current liabilities 316,920 255,648 Total Current Liabilities 13,747,072 12,022,810 Total Liabilities 13,747,072 12,022,810 Commitments and contingency - - SHAREHOLDERS' EQUITY Common stock, par value, $ 0.001 , 1,000,000,000 and 300,000,000 shares authorized, 2,659,149 and 1,828,541 shares issued and outstanding as of July 31, 2024 and April 30, 2024, respectively 2,659 1,828 Additional paid in capital 180,920,634 176,801,473 Accumulated deficit ( 171,607,773 ) ( 167,387,028 ) Accumulated other comprehensive income 122,808 183,541 Total St

View Full Filing

View this 10-Q filing on SEC EDGAR