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Minim | 10-Q: Q3 2024 Earnings Report

Minim | 10-Q: Q3 2024 Earnings Report

Minim | 10-Q：2024财年三季报
美股SEC公告 ·  2024/11/20 05:36

Moomoo AI 已提取核心信息

Minim reported zero revenue for Q3 2024, compared to $6.7 million in Q3 2023, reflecting the complete wind-down of its Motorola-branded networking product operations. The company posted a net loss of $625,067 for the quarter, significantly reduced from a $6.8 million loss in the same period last year. Operating expenses decreased 83.2% to $625,067, primarily due to the cessation of sales, marketing and R&D activities.The company ended the quarter with $191,724 in cash, down from $709,322 at year-end 2023, and negative working capital of $776,219. Management acknowledged substantial doubt about the company's ability to continue as a going concern without additional funding. In response, Minim entered into a Securities Purchase Agreement in November 2024 to raise $2.6 million through the sale of preferred stock.The company is currently appealing Nasdaq's decision to delist its shares, with trading suspended since July 2024. An SEC administrative stay was granted on November 1, 2024, temporarily halting the delisting process while the appeal is reviewed. The completion of the new funding agreement is contingent upon regaining Nasdaq listing by December 31, 2024.
Minim reported zero revenue for Q3 2024, compared to $6.7 million in Q3 2023, reflecting the complete wind-down of its Motorola-branded networking product operations. The company posted a net loss of $625,067 for the quarter, significantly reduced from a $6.8 million loss in the same period last year. Operating expenses decreased 83.2% to $625,067, primarily due to the cessation of sales, marketing and R&D activities.The company ended the quarter with $191,724 in cash, down from $709,322 at year-end 2023, and negative working capital of $776,219. Management acknowledged substantial doubt about the company's ability to continue as a going concern without additional funding. In response, Minim entered into a Securities Purchase Agreement in November 2024 to raise $2.6 million through the sale of preferred stock.The company is currently appealing Nasdaq's decision to delist its shares, with trading suspended since July 2024. An SEC administrative stay was granted on November 1, 2024, temporarily halting the delisting process while the appeal is reviewed. The completion of the new funding agreement is contingent upon regaining Nasdaq listing by December 31, 2024.
Minim报告2024年第三季度没有营业收入，而2023年第三季度的营业收入为670万美元，反映出其摩托罗拉品牌网络产品运营的完全关闭。该公司在本季度录得净亏损625,067美元，较去年同期的680万美元亏损大幅减少。营业费用减少83.2%，降至625,067美元，主要由于停止了销售、市场营销和研发活动。该公司在季度末的现金为191,724美元，较2023年年末的709,322美元减少，并且负流动资金为776,219美元。管理层承认对公司在没有额外资金支持的情况下能否继续作为一个持续经营的实体存在重大疑虑。作为回应，Minim在2024年11月签署了一份证券购买协议，通过出售优先股筹集260万美元。该公司目前正在对纳斯达克的退市决定提出上诉，自2024年7月起暂停交易。2024年11月1日，SEC给予了一项行政停滞，暂时暂停退市过程，待上诉审查。新的融资协议的完成取决于在2024年12月31日之前重新获得纳斯达克上市。
Minim报告2024年第三季度没有营业收入，而2023年第三季度的营业收入为670万美元，反映出其摩托罗拉品牌网络产品运营的完全关闭。该公司在本季度录得净亏损625,067美元，较去年同期的680万美元亏损大幅减少。营业费用减少83.2%，降至625,067美元，主要由于停止了销售、市场营销和研发活动。该公司在季度末的现金为191,724美元，较2023年年末的709,322美元减少，并且负流动资金为776,219美元。管理层承认对公司在没有额外资金支持的情况下能否继续作为一个持续经营的实体存在重大疑虑。作为回应，Minim在2024年11月签署了一份证券购买协议，通过出售优先股筹集260万美元。该公司目前正在对纳斯达克的退市决定提出上诉，自2024年7月起暂停交易。2024年11月1日，SEC给予了一项行政停滞，暂时暂停退市过程，待上诉审查。新的融资协议的完成取决于在2024年12月31日之前重新获得纳斯达克上市。
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