Firefly Neuroscience Q3 2024 Update
Ticker: AIFF · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 803578
Sentiment: bearish
Topics: 10-Q, financials, loss, revenue
TL;DR
**FIREFLY NEUROSCIENCE (FFLY) Q3 2024: $1.68M assets, $247K liabilities, $0 revenue, $596K loss.**
AI Summary
Firefly Neuroscience, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $1,676,165 and total liabilities of $246,919 as of September 30, 2024. For the nine months ended September 30, 2024, the company had revenues of $0 and a net loss of $596,145.
Why It Matters
This filing provides insight into Firefly Neuroscience's financial health and operational performance during the third quarter of 2024, which is crucial for investors assessing the company's trajectory.
Risk Assessment
Risk Level: medium — The company reported zero revenue and a net loss, indicating significant financial risk and reliance on external funding.
Key Numbers
- $1,676,165 — Total Assets (As of September 30, 2024)
- $246,919 — Total Liabilities (As of September 30, 2024)
- $0 — Revenue (For the nine months ended September 30, 2024)
- $596,145 — Net Loss (For the nine months ended September 30, 2024)
Key Players & Entities
- FIREFLY NEUROSCIENCE, INC. (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- $1,676,165 (dollar_amount) — Total assets as of September 30, 2024
- $246,919 (dollar_amount) — Total liabilities as of September 30, 2024
- $596,145 (dollar_amount) — Net loss for the nine months ended September 30, 2024
FAQ
What was Firefly Neuroscience's total revenue for the three months ended September 30, 2024?
The filing indicates $0 revenue for the three months ended September 30, 2024.
What is the company's net loss for the nine-month period ending September 30, 2024?
Firefly Neuroscience reported a net loss of $596,145 for the nine months ended September 30, 2024.
What were the company's total assets as of September 30, 2024?
Total assets for Firefly Neuroscience were $1,676,165 as of September 30, 2024.
What were the company's total liabilities as of September 30, 2024?
Total liabilities for Firefly Neuroscience were $246,919 as of September 30, 2024.
What was the company's net loss for the three months ended September 30, 2024?
The filing indicates a net loss of $246,919 for the three months ended September 30, 2024.
Filing Stats: 4,730 words · 19 min read · ~16 pages · Grade level 15.3 · Accepted 2024-11-14 17:26:24
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share AIFF Nasdaq Capital Marke
- $0.00001 — ivate Firefly's common stock, par value $0.00001 per share (the "Private Firefly Common
Filing Documents
- wavd20240930d_10q.htm (10-Q) — 1647KB
- ex_746099.htm (EX-31.1) — 9KB
- ex_746100.htm (EX-31.2) — 9KB
- ex_746101.htm (EX-32.1) — 6KB
- 0001437749-24-035393.txt ( ) — 6858KB
- aiff-20240930.xsd (EX-101.SCH) — 57KB
- aiff-20240930_cal.xml (EX-101.CAL) — 38KB
- aiff-20240930_def.xml (EX-101.DEF) — 420KB
- aiff-20240930_lab.xml (EX-101.LAB) — 320KB
- aiff-20240930_pre.xml (EX-101.PRE) — 443KB
- wavd20240930d_10q_htm.xml (XML) — 1002KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Page Number Item 1.
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Equity (Deficit) for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 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 19 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
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 28 Item 1A.
Risk Factors
Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 58 Item 3. Defaults Upon Senior Securities 58 Item 4. Mine Safety Disclosures 58 Item 5. Other Information 58 Item 6. Exhibits
Signatures
Signatures 2 Table of Contents FIREFLY NEUROSCIENCE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 (IN THOUSANDS, EXCEPT SHARE DATA) September 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets Cash $ 1,230 $ 2,143 Other receivables 86 84 Prepaid expenses 1,349 28 Total current assets 2,665 2,255 Non current assets Prepaid expenses 1,465 - Equipment, net 72 - Intangible assets, net 1,109 386 Total non current assets 2,646 386 TOTAL ASSETS $ 5,311 $ 2,641 LIABILITIES Current liabilities Trade payables $ 1,382 $ 630 Accrued liabilities 1,153 1,902 Total current liabilities 2,535 2,532 TOTAL LIABILITIES 2,535 2,532 COMMITMENTS AND CONTINGENCIES (Note 9) SHAREHOLDERS ' EQUITY (DEFICIT) Preferred shares, $ 0.0001 par value: 1,000,000 stock authorized - 2024; 3,120,000 stock authorized - 2023; nil and 1,676,165 issued and outstanding at September 30, 2024 and December 31, 2023, respectively - - Common shares, $ 0.0001 par value: 100,000,000 stock authorized; 8,476,202 and 3,678,550 issued and outstanding at September 30, 2024 and December 31, 2023, respectively 1 - Additional Paid-in Capital 86,074 76,733 Accumulated deficit ( 83,299 ) ( 76,624 ) TOTAL SHAREHOLDERS ' EQUITY 2,776 109 TOTAL LIABILITIES AND SHAREHOLDERS ' EQUITY $ 5,311 $ 2,641 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Contents FIREFLY NEUROSCIENCE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 REVENUE $ 33 $ 23 $ 55 $ 479 OPERATING EXPENSES: Research and development expenses 878 392 1,517 712 Selling and market