Summary by Moomoo AI
Heart Test Labs reported financial results for the second quarter ended October 31, 2024. The company recognized stock-based compensation of $99,115 for stock options, down from $230,486 in the same period last year. As of October 31, 2024, Heart Test Labs had approximately $113,000 in unrecognized compensation costs for non-vested service-based stock options and $1.5 million for performance-based options.The company's cumulative net operating loss for federal income tax purposes was approximately $50 million as of October 31, 2024, compared to $54 million as of April 30, 2024. Heart Test Labs maintains a full valuation allowance against its deferred tax assets due to uncertainty regarding future taxable income generation. Rent expense for the six-month period was approximately $74,000.Heart Test Labs is developing AI-based ECG technology to expand...Show More