PURE Biosciences Inc

OTC Pink - Current Information:PUREUnited States

Oct 29, 2024

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• PURE Bioscience Reports Fiscal 2024 Financial Results, from 4:05PM ET on Tuesday Oct 29, 2024 by Dow Jones

  4:05PM ET on Tuesday Oct 29, 2024 by Dow Jones
  Companies Mentioned: PURE
  ------------ ------------ Total liabilities and stockholders' equity (deficiency) $ 818,000 $ 1,825,000 ============ ============ PURE Bioscience, Inc. Consolidated Statements of Operations Year ended July 31, ------------------------------ 2024 2023 ------------- --------------- Net product sales $ 1,955,000 $ 1,871,000 Royalty revenue 8,000 6,000 ----------- ----------- Total revenue 1,963,000 1,877,000 Cost of goods sold 811,000 906,000 ----------- ----------- Gross Profit 1,152,000 971,000 ----------- ----------- Operating costs and expenses Selling, general and administrative 3,981,000 4,302,000 Research and development 302,000 297,000 Impairment of fixed assets 60,000 315,000 ----------- ----------- Total operating costs and expenses 4,343,000 4,914,000 ----------- ----------- Loss from operations (3,191,000) (3,943,000) ----------- ----------- Other income (expense) Interest expense, net (155,000) (14,000) Other income (expense), net (4,000) (4,000) ----------- ----------- Total other income (expense) (159,000) (18,000) ----------- ----------- Net loss $ (3,350,000) $ (3,961,000) =========== =========== Basic and diluted net loss per share $ (0.03) $ (0.04) =========== =========== Shares used in computing basic and diluted net loss per share 111,856,473 111,404,418 =========== =========== PURE Bioscience, Inc. Consolidated Statements of Stockholders' Equity (Deficiency) Additional Total Common Stock Paid-In Accumulated Stockholders' ----------------------- Shares Amount Capital Deficit Equity ----------- ---------- ------------- -------------- ----------------- Balance July 31, 2022 111,356,473 $1,114,000 $132,079,000 $(129,284,000) $ 3,909,000 Share-based compensation expense - stock options -- -- 262,000 -- 262,000 Share-based compensation expense - restricted stock units -- -- 62,000 -- 62,000 Issuance of common stock for vested restricted stock units 500,000 5,000 (5,000) -- -- Net loss -- -- -- (3,961,000) (3,961,000) ----------- --------- ----------- ------------ ---------- Balance July 31, 2023 111,856,473 $1,119,000 $132,398,000 $(133,245,000) $ 272,000 Share-based compensation expense - stock options -- -- 214,000 -- 214,000 Net loss -- -- -- (3,350,000) (3,350,000) ----------- --------- ----------- ------------ ---------- Balance July 31, 2024 111,856,473 $1,119,000 $132,612,000 $(136,595,000) $ (2,864,000) =========== ========= =========== ============ ========== PURE Bioscience, Inc. Consolidated Statements of Cash Flows Year Ended July 31, ---------------------------- 2024 2023 ------------ -------------- Operating activities Net loss $(3,350,000) $(3,961,000) Adjustments to reconcile loss to net cash used in operating activities: Share-based compensation 214,000 324,000 Impairment of fixed assets 60,000 315,000 Depreciation and amortization 148,000 117,000 Reserve for inventory obsolescence -- 34,000 Changes in operating assets and liabilities: Accounts receivable (13,000) (84,000) Inventories 32,000 57,000 Prepaid expenses 34,000 (43,000) Accounts payable and accrued liabilities 201,000 (43,000) Interest on note payable 143,000 6,000 ---------- ---------- Net cash used in operating activities (2,531,000) (3,278,000) ---------- ---------- Investing activities Purchases of property, plant and equipment -- (33,000) ---------- ---------- Net cash used in investing activities -- (33,000) ---------- ---------- Financing activities Net proceeds from convertible notes payable to related parties 1,785,000 1,015,000 ---------- ---------- Net cash provided by financing activities 1,785,000 1,015,000 ---------- ---------- Net decrease in cash, cash equivalents, and restricted cash (746,000) (2,296,000) Cash, cash equivalents, and restricted cash at beginning of year 1,170,000 3,466,000 ---------- ---------- Cash, cash equivalents, and restricted cash at end of year $ 424,000 $ 1,170,000 ========== ========== Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets Cash and cash equivalents $ 349,000 $ 1,095,000 Restricted cash 75,000 75,000 ---------- ---------- Total cash, cash equivalents and restricted cash $ 424,000 $ 1,170,000 ========== ========== Supplemental disclosure of cash flow information Cash paid for taxes $ 5,000 $ 5,000 ========== ==========