Artelo Biosciences, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Artelo Biosciences, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial information and corporate history.</b>

AI Summary

ARTELO BIOSCIENCES, INC. (ARTL) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Artelo Biosciences, Inc. reported financial results for the quarter ended March 31, 2024. The company's fiscal year ends on December 31st. The filing is a Form 10-Q, indicating a quarterly report. The company was formerly known as REACTIVE MEDICAL INC. and KNIGHT KNOX DEVELOPMENT CORP. The filing includes data related to stock options and warrants.

Why It Matters

For investors and stakeholders tracking ARTELO BIOSCIENCES, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Artelo Biosciences, Inc. for the first quarter of 2024. Understanding the company's historical name changes and its current reporting status as a 10-Q filer is crucial for assessing its corporate evolution and regulatory compliance.

Risk Assessment

Risk Level: low — ARTELO BIOSCIENCES, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain significant new financial risks or disclosures beyond routine updates.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q to understand Artelo Biosciences' current financial health and strategic direction.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly report)
• 2024-05-13 — Filing Date (10-Q filing)
• 0.001 — Value (Related to stock options)
• 416667 — Value (Related to stock options)
• 3188959 — Value (Related to warrants)
• 3227700 — Value (Related to warrants)

Key Players & Entities

• ARTELO BIOSCIENCES, INC. (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-13 (date) — Filed as of date
• 0001621221 (company) — Central Index Key
• 2834 (industry) — Standard Industrial Classification
• NV (state) — State of incorporation
• REACTIVE MEDICAL INC. (company) — Former company name
• KNIGHT KNOX DEVELOPMENT CORP. (company) — Former company name

FAQ

Industry Context

Artelo Biosciences operates in the pharmaceutical preparations industry, focusing on the development of novel therapeutics.

Regulatory Implications

As a publicly traded company, Artelo Biosciences is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and cash flow for Q1 2024.
2. Review any disclosed risk factors or management discussion and analysis for potential business challenges.
3. Investigate the details surrounding stock options and warrants mentioned in the filing.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-13: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous year-end report.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share ARTL The Nasdaq
• $695 — as of March 31, 2024, was approximately $695. The Company has not experienced losses

Filing Documents

• artl_10q.htm (10-Q) — 829KB
• artl_ex311.htm (EX-31.1) — 11KB
• artl_ex321.htm (EX-32.1) — 4KB
• 0001640334-24-000757.txt (&nbsp;) — 3357KB
• artl-20240331.xsd (EX-101.SCH) — 31KB
• artl-20240331_lab.xml (EX-101.LAB) — 203KB
• artl-20240331_cal.xml (EX-101.CAL) — 32KB
• artl-20240331_pre.xml (EX-101.PRE) — 172KB
• artl-20240331_def.xml (EX-101.DEF) — 95KB
• artl_10q_htm.xml (XML) — 402KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 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 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52 Item 3. Defaults Upon Senior Securities 52 Item 4. Mine Safety Disclosures 52 Item 5. Other Information 52 Item 6. Exhibits 52

SIGNATURES

SIGNATURES 53 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ARTELO BIOSCIENCES, INC. Consolidated Balance Sheets (Unaudited) (In thousands, except share data) March 31, December 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 1,195 $ 2,815 Trading marketable securities 6,414 7,611 Prepaid expenses and other current assets 579 554 Total Current Assets 8,188 10,980 Operating lease right-of-use assets 124 21 Intangible asset 2,039 2,039 Other assets 3 3 TOTAL ASSETS $ 10,354 $ 13,043 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 607 $ 1,238 Due to related parties 83 30 Operating lease liabilities - current portion 31 23 Total Current Liabilities 721 1,291 Operating lease liabilities 96 - TOTAL LIABILITIES 817 1,291 STOCKHOLDERS' EQUITY Preferred Stock, par value $ 0.001 , 416,667 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and December 31, 2023 - - Common Stock, par value $ 0.001 , 50,000,000 shares authorized, as of March 31, 2024 and December 31, 2023 3,227,700 and 3,188,959 shares issued and outstanding as of March 31, 2024 and December 31, 2023 3 3 Additional paid-in capital 52,530 52,262 Accumulated deficit ( 42,793 ) ( 40,310 ) Accumulated other comprehensive loss ( 203 ) ( 203 ) TOTAL STOCKHOLDERS' EQUITY 9,537 11,752 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 10,354 $ 13,043 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 Table of Contents ARTELO BIOSCIENCES, INC. Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (In thousands, except per share data) Three months ended March 31, 2024 2023 OPERATING EXPENSES General and administrative $ 1,082 $ 1,057 Research and development 1,507 1,235 Total Operating Expenses 2,589 2,292 Loss from Operations ( 2,5

View Full Filing

View this 10-Q filing on SEC EDGAR