Genelux Corp

NASDAQ:GNLXUnited States

Apr 1, 2024

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• Genelux Corporation Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update, from 7:00AM ET on Monday Apr 01, 2024 by GlobeNewswire

  7:00AM ET on Monday Apr 01, 2024 by GlobeNewswire
  Companies Mentioned: GNLX

• Genelux Corporation Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update, from 7:00AM ET on Monday Apr 01, 2024 by Dow Jones

  7:00AM ET on Monday Apr 01, 2024 by Dow Jones
  Companies Mentioned: GNLX
  ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) Current Liabilities Accounts payable and accrued expenses $ 3,784 $ 6,775 Accrued payroll and payroll taxes 2,117 2,852 Accrued interest payable - 1,178 Accrued interest payable - director and shareholders - 3,817 Deferred revenue - 170 Warrant liabilities - 169 Lease liability, current portion 653 266 Notes payable - shareholders, net of debt discount of $108 in 2022 - 992 Convertible notes payable - shareholders, current portion - 15,407 Total Current Liabilities 6,554 31,626 -------- -------- Long-term Liabilities Lease liability, long-term portion 1,866 1,164 Convertible notes payable, net of debt discount of $541 in 2022 - 8,524 -------- -------- Total Long-term Liabilities 1,866 9,688 -------- -------- Total Liabilities 8,420 41,314 -------- -------- Shareholders' Equity (Deficit) Preferred stock, Series A through K, par value $0.001, 10,000,000 shares authorized as of 12/31/2023 and 29,927,994 authorized as of 12/31/2022; no shares and 22,094,889 shares issued and outstanding, respectively; - 22 Common stock, par value $0.001, 200,000,000 shares authorized; 26,788,986 and 9,126,726 shares issued and outstanding, respectively 27 9 Treasury stock, 433,333 shares, at cost (433) (433) Additional paid-in capital 241,389 154,401 Accumulated other comprehensive income 14 2 Accumulated deficit (221,524) (189,784) -------- -------- Total Shareholders' Equity (Deficit) 19,473 (35,783) -------- -------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) $ 27,893 $ 5,531 ======== ======== The accompanying notes are an integral part of these financial statements. Genelux Corporation Statements of Operations (in thousands, except for share amounts and per share data) Years Ended December 31, --------------------------- 2023 2022 Revenues $ 170 $ 11,068 ---------- --------- Operating expenses: Research and development 12,767 9,078 General and administrative 11,568 5,003 ---------- --------- Total operating expenses 24,335 14,081 ---------- --------- Loss from operations (24,165) (3,013) ---------- --------- Other income (expenses): Interest income 244 - Interest expense (173) (1,150) Debt discount amortization (649) (258) Financing costs (3,152) - Debt extinguishment costs (402) - Gain on forgiveness of PPP loan payable - 314 ---------- --------- Total other income (expenses), net (4,132) (1,094) ---------- --------- Loss before provision for foreign income taxes (28,297) (4,107) Provision for foreign income taxes - (1,100) ---------- --------- NET LOSS $ (28,297) $ (5,207) ========== ========= LOSS PER COMMON SHARE - BASIC AND DILUTED $ (1.16) $ (0.57) ========== ========= WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC AND DILUTED 24,429,278 9,116,489 ========== ========= The accompanying notes are an integral part of these financial statements. Genelux Corporation Statements of Comprehensive Loss (in thousands) Years Ended December 31, --------------------- 2023 2022 Net loss $(28,297) $(5,207) Other comprehensive loss: Net unrealized gain on short-term investments 12 - Comprehensive loss $(28,285) $(5,207) ======= ====== The accompanying notes are an integral part of these financial statements.