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Aclarion | 10-K: Annual report

SEC announcement ·  Mar 28 16:26
Summary by Moomoo AI
Aclarion, Inc., a healthcare technology company specializing in Magnetic Resonance Spectroscopy (MRS) to optimize clinical treatments, reported financial results for the year ended December 31, 2023. The company experienced a net loss of $4,911,374, a decrease from the previous year's net loss of $7,068,593. Total revenue increased slightly to $75,404, up from $60,444 in 2022, primarily due to increased utilization of Nociscan in clinical studies. Operating expenses decreased by $681,057 to $4,875,657, with sales and marketing expenses rising by $259,001 due to increased restricted stock units for Key Opinion Leaders. Research and development expenses decreased by $194,656, and general and administrative expenses saw a reduction of $745,402. Interest expense also decreased by $899,258 due to the absence of a beneficial conversion rate charged in 2022. The company's cash position at year-end...Show More
Aclarion, Inc., a healthcare technology company specializing in Magnetic Resonance Spectroscopy (MRS) to optimize clinical treatments, reported financial results for the year ended December 31, 2023. The company experienced a net loss of $4,911,374, a decrease from the previous year's net loss of $7,068,593. Total revenue increased slightly to $75,404, up from $60,444 in 2022, primarily due to increased utilization of Nociscan in clinical studies. Operating expenses decreased by $681,057 to $4,875,657, with sales and marketing expenses rising by $259,001 due to increased restricted stock units for Key Opinion Leaders. Research and development expenses decreased by $194,656, and general and administrative expenses saw a reduction of $745,402. Interest expense also decreased by $899,258 due to the absence of a beneficial conversion rate charged in 2022. The company's cash position at year-end was approximately $1.0 million, with additional capital raised post-year-end through an equity line and a secondary public offering. Aclarion's management plans to secure further funding to support ongoing operations into the third quarter of 2024. The company's financial statements have been prepared under the assumption that Aclarion will continue as a going concern, despite substantial doubt raised due to recurring losses and the need for additional financing.

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