Firefly Neuroscience Files S-1 for Potential IPO
Ticker: AIFF · Form: S-1 · Filed: Feb 7, 2025 · CIK: 803578
Sentiment: neutral
Topics: ipo, s-1, software
TL;DR
Firefly Neuroscience is filing for an IPO, get ready for some neuro-tech action!
AI Summary
Firefly Neuroscience, Inc. filed an S-1 form on February 7, 2025, indicating a potential public offering. The company, formerly known as WAVEDANCER, INC., is based in Kenmore, NY. Financial details from Q3 2024 show significant figures, including $100,000,000 in authorized shares and $8,476,202 in total assets as of September 30, 2024.
Why It Matters
This S-1 filing signals Firefly Neuroscience's intention to go public, which could bring new investment into the neuroscience technology sector and offer investors a chance to participate in the company's growth.
Risk Assessment
Risk Level: medium — As a company filing for an IPO, there is inherent risk associated with its future performance and market reception.
Key Numbers
- $100.00B — Authorized Shares (Indicates the maximum number of shares the company can issue.)
- $8.48B — Total Assets (Represents the company's total resources as of Q3 2024.)
- $3.68B — Total Liabilities (Represents the company's total obligations as of Q3 2024.)
- 20211215 — Name Change Date (Date Firefly Neuroscience, Inc. changed its name from WAVEDANCER, INC.)
Key Players & Entities
- FIREFLY NEUROSCIENCE, INC. (company) — Filer
- WAVEDANCER, INC. (company) — Former Company Name
- INFORMATION ANALYSIS INC (company) — Former Company Name
- 1100 MILITARY ROAD, KENMORE, NY 14217 (location) — Business and Mail Address
- 888-237-6412 (phone_number) — Business Phone
- $100,000,000 (dollar_amount) — Authorized Shares
- $8,476,202 (dollar_amount) — Total Assets as of 2024-09-30
- $3,678,550 (dollar_amount) — Total Liabilities as of 2024-09-30
FAQ
What is the primary business of Firefly Neuroscience, Inc.?
The filing indicates the company's SIC code is 'SERVICES-PREPACKAGED SOFTWARE [7372]', suggesting a focus on software services, though the name 'Neuroscience' implies a potential specialization in that area.
When was the company previously known by another name?
The company was formerly known as WAVEDANCER, INC. and changed its name on December 15, 2021.
What is the total number of shares authorized for Firefly Neuroscience, Inc.?
As of the filing date, the company has 100,000,000 authorized shares.
What were the company's total assets and liabilities as of September 30, 2024?
As of September 30, 2024, Firefly Neuroscience, Inc. reported total assets of $8,476,202 and total liabilities of $3,678,550.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
Filing Stats: 4,469 words · 18 min read · ~15 pages · Grade level 15.2 · Accepted 2025-02-07 16:50:49
Key Financial Figures
- $0.0001 — 0,000 shares of common stock, par value $0.0001 per share (the "Common Stock") of Firef
- $2,400,000 — er 20, 2024, in the principal amount of $2,400,000, at an assumed an initial conversion pr
- $3.00 — assumed an initial conversion price of $3.00 per share (the "December 2024 Note"), a
- $4.00 — , 2024, at an initial exercise price of $4.00 per share (the "December 2024 Warrant")
- $10,000,000 — f the December 2024 Warrant and up to US$10,000,000 in aggregate gross proceeds under the E
- $3.47 — price of shares of our Common Stock was $3.47. Investing in our securities involves
- $0.71 — of Common Stock at an exercise price of $0.71 per share, issued to the PIPE investors
- $60 m — ears and an investment of approximately $60 million, to develop the software, compile
Filing Documents
- wavd20250204_s1.htm (S-1) — 3662KB
- ex_775751.htm (EX-5.1) — 19KB
- ex_775730.htm (EX-23.1) — 4KB
- ex_775752.htm (EX-FILING FEES) — 14KB
- a01.jpg (GRAPHIC) — 8KB
- a02.jpg (GRAPHIC) — 3KB
- a03.jpg (GRAPHIC) — 6KB
- a04.jpg (GRAPHIC) — 3KB
- fn01.jpg (GRAPHIC) — 5KB
- fn02.jpg (GRAPHIC) — 18KB
- fn03.jpg (GRAPHIC) — 11KB
- fn04.jpg (GRAPHIC) — 18KB
- fn05.jpg (GRAPHIC) — 31KB
- ts01.jpg (GRAPHIC) — 9KB
- ts02.jpg (GRAPHIC) — 5KB
- ts03.jpg (GRAPHIC) — 4KB
- 0001437749-25-003176.txt ( ) — 15338KB
- aiff-20240930.xsd (EX-101.SCH) — 116KB
- aiff-20240930_cal.xml (EX-101.CAL) — 82KB
- aiff-20240930_def.xml (EX-101.DEF) — 885KB
- aiff-20240930_lab.xml (EX-101.LAB) — 479KB
- aiff-20240930_pre.xml (EX-101.PRE) — 939KB
- wavd20250204_s1_htm.xml (XML) — 2022KB
RISK FACTORS
RISK FACTORS 11 THE CONVERTIBLE NOTE AND WARRANT OFFERING 38 THE ELOC PURCHASE AGREEMENT 40
USE OF PROCEEDS
USE OF PROCEEDS 44 DIVIDEND POLICY 45
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 46
BUSINESS
BUSINESS 56 MANAGEMENT 71
EXECUTIVE COMPENSATION
EXECUTIVE COMPENSATION 76
DESCRIPTION OF CAPITAL STOCK
DESCRIPTION OF CAPITAL STOCK 90 BENEFICIAL OWNERSHIP OF SECURITIES 96 SELLING STOCKHOLDERS 97 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 98 MATERIAL U.S. FEDERAL TAX CONSIDERATIONS FOR HOLDERS OF COMMON STOCK 100 PLAN OF DISTRIBUTION 104 LEGAL MATTERS 107 EXPERTS 107 WHERE YOU CAN FIND ADDITIONAL INFORMATION 107 UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET 107 INDEX TO FINANCIAL STATEMENTS F-1 ABOUT THIS PROSPECTUS This prospectus is part of a registration statement on Form S-1 that we filed with the U.S. Securities and Exchange Commission (the "SEC"). Under this registration process, the Selling Stockholders may, from time to time, sell the securities offered by them described in this prospectus. We will not receive any proceeds from the sale by the Selling Stockholders of the securities offered by them described in this prospectus. We may also file a prospectus supplement or post-effective amendment to the registration statement of which this prospectus forms a part that may contain material information relating to this offering. The prospectus supplement or post-effective amendment may also add, update or change information contained in this prospectus. If there is any inconsistency between the information in this prospectus and the applicable prospectus supplement or post-effective amendment, you should rely on the prospectus supplement or post-effective amendment, as applicable. Before purchasing any securities, you should carefully read this prospectus, any post-effective amendment, and any applicable prospectus supplement, together with the additional information described under the headings "Where You Can Find More Information" and "Incorporation of Certain Information by Reference." Neither we nor the Selling Stockholders have authorized anyone to provide you with any information or to make any representations other than those contained, or incorporated by reference, in this prospectus, any post-effective amendme