Wed, May 15, 8:27 PM (72 days ago)
Know Labs, Inc. (KNW) reported its Q1 2024 financials, showing a decline in cash and cash equivalents from $8.02 million on September 30, 2023, to $4.71 million on March 31, 2024. The company reported total current assets of $4.71 million and total liabilities of $6.69 million, resulting in a stockholders' deficit of $1.75 million. Operating expenses decreased slightly to $4.73 million from $4.81 million in the same quarter last year, primarily due to reduced research and development costs. However, the net loss widened to $5.40 million from $4.93 million, driven by increased interest expenses related to debt extensions and new convertible notes. Know Labs anticipates ongoing losses and is focused on raising additional capital to sustain operations through October 2024. The company is advancing its non-invasive glucose monitoring technology but faces substantial uncertainty regarding FDA approval and market acceptance.