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Minim | 10-Q: Q3 2024 Earnings Report

Minim | 10-Q: Q3 2024 Earnings Report

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

Moomoo AI 已提取核心訊息

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報告2024年第三季度沒有營業收入，而2023年第三季度的營業收入爲670萬美元，反映出其摩托羅拉品牌網絡產品運營的完全關閉。該公司在本季度錄得淨虧損625,067美元，較去年同期的680萬美元虧損大幅減少。營業費用減少83.2%，降至625,067美元，主要由於停止了銷售、市場營銷和研發活動。該公司在季度末的現金爲191,724美元，較2023年年末的709,322美元減少，並且負流動資金爲776,219美元。管理層承認對公司在沒有額外資金支持的情況下能否繼續作爲一個持續經營的實體存在重大疑慮。作爲回應，Minim在2024年11月簽署了一份證券購買協議，通過出售優先股籌集260萬美元。該公司目前正在對納斯達克的退市決定提出上訴，自2024年7月起暫停交易。2024年11月1日，SEC給予了一項行政停滯，暫時暫停退市過程，待上訴審查。新的融資協議的完成取決於在2024年12月31日之前重新獲得納斯達克上市。
Minim報告2024年第三季度沒有營業收入，而2023年第三季度的營業收入爲670萬美元，反映出其摩托羅拉品牌網絡產品運營的完全關閉。該公司在本季度錄得淨虧損625,067美元，較去年同期的680萬美元虧損大幅減少。營業費用減少83.2%，降至625,067美元，主要由於停止了銷售、市場營銷和研發活動。該公司在季度末的現金爲191,724美元，較2023年年末的709,322美元減少，並且負流動資金爲776,219美元。管理層承認對公司在沒有額外資金支持的情況下能否繼續作爲一個持續經營的實體存在重大疑慮。作爲回應，Minim在2024年11月簽署了一份證券購買協議，通過出售優先股籌集260萬美元。該公司目前正在對納斯達克的退市決定提出上訴，自2024年7月起暫停交易。2024年11月1日，SEC給予了一項行政停滯，暫時暫停退市過程，待上訴審查。新的融資協議的完成取決於在2024年12月31日之前重新獲得納斯達克上市。
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