Know Labs Inc

NYSE American:KNWUnited States

Nov 15, 2024

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• Know Labs, Inc. Announces Receipt of Audit Opinion with Going Concern Explanation, from 7:03PM ET on Friday Nov 15, 2024 by Dow Jones

  7:03PM ET on Friday Nov 15, 2024 by Dow Jones
  Companies Mentioned: KNW
  
  Know Labs, Inc. Announces Receipt of Audit Opinion with Going Concern Explanation
  SEATTLE--(BUSINESS WIRE)--November 15, 2024--
  Know Labs, Inc. (NYSE American: KNW), leading developer of non-invasive diagnostics technology, today announced that, as previously disclosed in its Annual Report on Form 10-K for the year ended September 30, 2024, which was filed on November 14, 2024 with the Securities and Exchange Commission, the audited financial statements contained an audit opinion from its independent registered public accounting firm that included an explanatory paragraph related to the Company's ability to continue as a going concern. See further discussion in Note 2 to the Company's financial statements included in the Company's Annual Report on Form 10-K. This announcement is made pursuant to NYSE American LLC Company Guide Section 610(b), which requires public announcement of the receipt of an audit opinion containing a going concern paragraph. This announcement does not represent any change or amendment to the Company's financial statements or to its Annual Report on Form 10-K for the year ended September 30, 2024.
  

• Know Labs, Inc. Reports Fourth Quarter and Fiscal Year 2024 Results, from 8:30AM ET on Friday Nov 15, 2024 by Dow Jones

  8:30AM ET on Friday Nov 15, 2024 by Dow Jones
  Companies Mentioned: KNW
  ----------------------------------------- September 30, 2024 September 30, 2023 ------------------ -------------------- CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (16,581,558) $ (15,289,167) Adjustments to reconcile net loss to net cash (used in) operating activities Depreciation and amortization 80,881 313,019 Stock based compensation - stock option grants 2,957,559 2,955,933 Issuance of common stock for services 277,011 - Gain on debt settlement - (50,000) Loss on disposal of assets - 549,431 Loss on debt extinguishment - 506,865 Amortization of operating lease right-of-use asset 189,286 142,840 Amortization of debt issuance costs 830,948 - Interest expense for extension of notes and warrants 594,761 349,721 Changes in operating assets and liabilities: Other long-term assets (133,408) (1,999) Operating lease right-of-use liability (178,408) (147,719) Accounts payable - trade and accrued expenses (866,422) 317,085 ----------------- ----------------- NET CASH (USED IN) OPERATING ACTIVITIES (12,829,350) (10,353,991) ----------------- ----------------- CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of research and development equipment (66,352) (80,797) ----------------- ----------------- NET CASH (USED IN) INVESTING ACTIVITIES: (66,352) (80,797) ----------------- ----------------- CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from debt offering 3,764,129 - Repayment of note payable (720,000) - Proceeds from issuance of common stock offering, net 5,193,262 5,472,791 Payments of debt offering (262,450) - Proceeds from issuance of common stock for warrant exercise 7,800 387,334 Proceeds from issuance of common stock for stock options exercise - 4,687 ----------------- ----------------- NET CASH PROVIDED BY FINANCING ACTIVITIES 7,982,741 5,864,812 ----------------- ----------------- NET (DECREASE) IN CASH AND CASH EQUIVALENTS (4,912,961) (4,569,976) CASH AND CASH EQUIVALENTS, beginning of period 8,023,716 12,593,692 ----------------- ----------------- CASH AND CASH EQUIVALENTS, end of period $ 3,110,755 $ 8,023,716 ================= ================= Supplemental disclosures of cash flow information: Interest paid $ 241,000 $ 140,000 Taxes paid $ - $ - Supplemental disclosure of non-cash financing activity: Deemed dividends on Series C and D Preferred Stock $ 313,536 $ 3,526,653 Common stock dividends on Series D Preferred Stock $ - $ 1,627,230 Warrants issued for debt offering $ 2,110,731 $ - Common stock issued for debt payment $ 240,000 $ - Issuance costs from common stock offering $ 670,149 $ 1,527,209
  

• Press Release: Know Labs, Inc. Reports Fourth Quarter and Fiscal Year 2024 Results, from 8:30AM ET on Friday Nov 15, 2024 by Dow Jones

  8:30AM ET on Friday Nov 15, 2024 by Dow Jones
  Companies Mentioned: KNW
  ----------------------------------------- September 30, 2024 September 30, 2023 ------------------ -------------------- CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (16,581,558) $ (15,289,167) Adjustments to reconcile net loss to net cash (used in) operating activities Depreciation and amortization 80,881 313,019 Stock based compensation - stock option grants 2,957,559 2,955,933 Issuance of common stock for services 277,011 - Gain on debt settlement - (50,000) Loss on disposal of assets - 549,431 Loss on debt extinguishment - 506,865 Amortization of operating lease right-of-use asset 189,286 142,840 Amortization of debt issuance costs 830,948 - Interest expense for extension of notes and warrants 594,761 349,721 Changes in operating assets and liabilities: Other long-term assets (133,408) (1,999) Operating lease right-of-use liability (178,408) (147,719) Accounts payable - trade and accrued expenses (866,422) 317,085 ----------------- ----------------- NET CASH (USED IN) OPERATING ACTIVITIES (12,829,350) (10,353,991) ----------------- ----------------- CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of research and development equipment (66,352) (80,797) ----------------- ----------------- NET CASH (USED IN) INVESTING ACTIVITIES: (66,352) (80,797) ----------------- ----------------- CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from debt offering 3,764,129 - Repayment of note payable (720,000) - Proceeds from issuance of common stock offering, net 5,193,262 5,472,791 Payments of debt offering (262,450) - Proceeds from issuance of common stock for warrant exercise 7,800 387,334 Proceeds from issuance of common stock for stock options exercise - 4,687 ----------------- ----------------- NET CASH PROVIDED BY FINANCING ACTIVITIES 7,982,741 5,864,812 ----------------- ----------------- NET (DECREASE) IN CASH AND CASH EQUIVALENTS (4,912,961) (4,569,976) CASH AND CASH EQUIVALENTS, beginning of period 8,023,716 12,593,692 ----------------- ----------------- CASH AND CASH EQUIVALENTS, end of period $ 3,110,755 $ 8,023,716 ================= ================= Supplemental disclosures of cash flow information: Interest paid $ 241,000 $ 140,000 Taxes paid $ - $ - Supplemental disclosure of non-cash financing activity: Deemed dividends on Series C and D Preferred Stock $ 313,536 $ 3,526,653 Common stock dividends on Series D Preferred Stock $ - $ 1,627,230 Warrants issued for debt offering $ 2,110,731 $ - Common stock issued for debt payment $ 240,000 $ - Issuance costs from common stock offering $ 670,149 $ 1,527,209