Fri, Dec 13, 1:01 PM (60 days ago)
Non-Invasive Monitoring Systems, Inc. (NIMU) reported its quarterly results for the period ending October 31, 2024, indicating continued financial challenges. The company recorded a net loss of $77,000, a slight improvement from the $88,000 loss in the same period of 2023. Operating costs decreased to $63,000 from $75,000, mainly due to lower insurance premiums. Total assets remained minimal at $38,000, with cash dwindling to $15,000, raising concerns about liquidity and the company's ability to meet financial obligations, reflected in a shareholder deficit of $802,000. The company remains a shell entity with no ongoing operations since discontinuing its product line in 2019. Financing activities provided $55,000, down from $200,000 in the prior year, indicating tightening capital access. The company is exploring potential mergers and strategic collaborations but faces significant uncertainties regarding future operations and funding. Overall, NIMU's financial health remains precarious, with substantial doubts about its ability to continue as a going concern without securing additional capital.