Intelligent Bio Solutions Inc. Files Q1 2025 10-Q
Ticker: INBS · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 1725430
Sentiment: neutral
Topics: 10-Q, financials, medical-devices
TL;DR
IBIO Q1 2025 10-Q filed. Financials are in.
AI Summary
Intelligent Bio Solutions Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as GBS Inc., is involved in surgical and medical instruments. The filing details financial data for the first quarter of fiscal year 2025, comparing it to the same period in fiscal year 2024.
Why It Matters
This filing provides investors with the latest financial performance and position of Intelligent Bio Solutions Inc., crucial for understanding the company's operational health and future prospects.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal significant positive or negative trends, impacting investment decisions.
Key Numbers
- Q1 2025 — Fiscal Quarter (Reporting period for the current 10-Q)
- Q1 2024 — Fiscal Quarter (Comparative period in the filing)
Key Players & Entities
- Intelligent Bio Solutions Inc. (company) — Filer of the 10-Q
- GBS Inc. (company) — Former name of Intelligent Bio Solutions Inc.
- September 30, 2024 (date) — End of the reporting period
- 20241107 (date) — Filing date
FAQ
What were the key financial highlights for Intelligent Bio Solutions Inc. in the first quarter of fiscal year 2025?
The 10-Q filing for the period ending September 30, 2024, provides the financial details for Q1 2025, which can be compared to Q1 2024.
What is the current business address of Intelligent Bio Solutions Inc.?
The business address is listed as 135 W 41ST ST, FLOOR 5, NEW YORK, NY 10036.
When did Intelligent Bio Solutions Inc. change its name from GBS Inc.?
The company changed its name from GBS Inc. on September 19, 2019.
What is the Standard Industrial Classification (SIC) code for Intelligent Bio Solutions Inc.?
The SIC code is 3841, which corresponds to SURGICAL & MEDICAL INSTRUMENTS & APPARATUS.
What is the filing date of this 10-Q report?
This 10-Q report was filed on November 7, 2024.
Filing Stats: 4,514 words · 18 min read · ~15 pages · Grade level 16.1 · Accepted 2024-11-07 08:36:00
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share INBS The Nasdaq Stock Mar
Filing Documents
- form10-q.htm (10-Q) — 743KB
- ex31-1.htm (EX-31.1) — 20KB
- ex31-2.htm (EX-31.2) — 21KB
- ex32-1.htm (EX-32.1) — 9KB
- ex32-2.htm (EX-32.2) — 9KB
- 0001493152-24-043927.txt ( ) — 4473KB
- inbs-20240930.xsd (EX-101.SCH) — 31KB
- inbs-20240930_cal.xml (EX-101.CAL) — 56KB
- inbs-20240930_def.xml (EX-101.DEF) — 74KB
- inbs-20240930_lab.xml (EX-101.LAB) — 298KB
- inbs-20240930_pre.xml (EX-101.PRE) — 220KB
- form10-q_htm.xml (XML) — 692KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.
Controls and Procedures
Controls and Procedures 27 PART II. OTHER INFORMATION 29 Item 1.
Legal Proceedings
Legal Proceedings 29 Item 1A.
Risk Factors
Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31
Signatures
Signatures 32 2 PART I. FINANCIAL INFORMATION Intelligent Bio Solutions Inc. Condensed Consolidated Balance Sheets As of September 30, As of June 30, 2024 2024 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 3,989,431 $ 6,304,098 Accounts receivable, net 578,578 429,704 Inventories, net 738,789 777,537 Research and development tax incentive receivable 648,334 525,332 Deferred charges 127,586 - Other current assets 396,193 497,572 Total current assets 6,478,911 8,534,243 Property and equipment, net 586,120 565,850 Operating lease right-of-use assets 260,760 306,744 Intangibles, net 4,400,092 4,372,026 Total assets $ 11,725,883 $ 13,778,863 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 1,834,416 $ 1,704,568 Current portion of operating lease liabilities 281,565 274,834 Current portion of deferred grant income 2,585,696 2,486,668 Current employee benefit liabilities 477,517 469,381 Current portion of notes payable 499,605 515,282 Total current liabilities 5,678,799 5,450,733 Employee benefit liabilities, less current portion 69,731 63,615 Operating lease liabilities, less current portion 28,111 81,324 Total liabilities $ 5,776,641 $ 5,595,672 Commitments and contingencies (Note 11) - - Shareholders' equity Common stock, $ 0.01 par value, 100,000,000 shares authorized, 4,377,759 and 3,456,000 shares issued and outstanding at September 30, 2024 and June 30, 2024, respectively 43,775 34,557 Treasury stock, at cost, 116 shares as of September 30, 2024 and June 30, 2024, respectively ( 1 ) ( 1 ) Additional paid-in capital 61,207,017 60,971,740 Accumulated deficit ( 54,649,965 ) ( 51,964,332 ) Accumulated other comprehensive loss ( 496,259 ) ( 712,614 ) Total consolidated Intelligent Bio Solutions Inc. equity 6,104,567 8,329,350 Non-controlling interest ( 155,325 ) ( 146