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Datum Erster Hoch Tief Schluss Stücke Volumen
06.08.13 0,19 0,29 0,19 0,25 $ 360.365 80 T
buran,Die RUSSENSUFFUNKE
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21:54:10 0,35 $ 2.500
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Kosmonova buran
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17.01.2014 20:15:23 Uhr 0,28 $ 250 500
17.01.2014 19:41:42 Uhr 0,28 $ 250 250
http://www.boersennews.de/markt/aktien/...1-us6553665083/211646/quote
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Intraday§0,28 $ 17.01. 0,28 $ 17.01. -5,08 % 500
1 Woche 0,30 $ 16.01.2014 0,25 $ 14.01.2014 7,69 % 131.482
4 Wochen 0,38 $ 30.12.2013 0,15 $ 24.12.2013 -6,67 % 790.019
52 Wochen 0,40 $ 11.04.2013 0,08 $ 24.01.2013 300,00 % 7.760.103
http://www.boersennews.de/markt/aktien/...1-us6553665083/211646/quote
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Date: 21-Jan-14
Contributor:§ValuEngine, Inc.
Title:§ValuEngine Industry Report for Medical Instruments
Document Size: 17 pages
Price: $49
Document Type: Adobe Acrobat Reader®
Download free Adobe Acrobat Reader®
http://reports.finance.yahoo.com/w0?r=50217053:1
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16-Dec-2013
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
Cautionary Statement Regarding Forward-looking Statements.
This Interim Report on Form 10-Q contains, in addition to historical information, certain forward-looking statements regarding Non-Invasive Monitoring Systems, Inc. (the "Company" or "NIMS," also referred to as "us", "we" or "our"). These forward-looking statements represent our expectations or beliefs concerning the Company's operations, performance, financial condition, business strategies, and other information and that involve substantial risks and uncertainties. For this purpose, any statements contained in this Report that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate," or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. The Company's actual results of operations, some of which are beyond the Company's control, could differ materially from the activities and results implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to the Company's: history of operating losses and accumulated deficit; immediate need for additional financing; the Company's inability to repay the Credit Facility currently due on July 31, 2015 or Promissory Notes due on July 31, 2015, dependence on future sales of the Exer-Rest� motion platforms; current and future purchase commitments; competition; dependence on management; changes in healthcare rules and regulations; risks related to proprietary rights; government regulation, including regulatory approvals; other factors described herein as well as the factors contained in "Item 1A - Risk Factors" of our Annual Report on Form 10-K for the year ended July 31, 2013. We do not undertake any obligation to update forward-looking statements, except as required by applicable law. These forward-looking statements are only predictions and reflect our views as of the date they are made with respect to future events and financial performance.
Overview
We are primarily engaged in the development, manufacture and marketing of non-invasive, whole body periodic acceleration ("WBPA") therapeutic platforms, which are motorized platforms that move a subject repetitively head to foot. Our acceleration therapeutic platforms are the inventions of Marvin A. Sackner, M.D., our founder, former Chief Executive Officer and a current member of our Board of Directors. Over thirty peer reviewed scientific publications attest to the benefits of whole body periodic acceleration in animal and human research investigations. According to those studies, the application of this technology causes increased release of beneficial substances such as nitric oxide from the inner lining of blood vessels throughout the vasculature for improved circulation and the reduction of inflammation. These findings are not being claimed as an intended use of the device for marketing purposes, but demonstrate a potential mechanism for its benefits.
The development and commercialization of the Exer-Rest has necessitated substantial expenditures and commitments of capital, and we anticipate expenses and associated losses to continue for the foreseeable future. We will be required to raise additional capital to fulfill our business plan, but no commitment to raise such additional capital exists or can be assured. If we are unsuccessful in our efforts to expand sales and/or raise capital, we will not be able to continue operations.
Products
Whole Body Periodic Acceleration ("WBPA") Therapeutic Devices
The original AT-101 was a comfortable gurney-styled device that provided movement of a platform repetitively in a head-to-foot motion at a rapid pace. Sales of the AT-101 commenced in October 2002 in Japan and in February 2003 in the United States. QTM Incorporated ("QTM"), an FDA registered manufacturer located in Oldsmar, Florida, manufactured the device, which was built in accordance with ISO and current Good Manufacturing Practices. As discussed above, we ceased manufacturing and selling the AT-101 in the United States in January 2005 as we began development of the Exer-Rest AT. We continued selling our existing inventory of AT-101 devices overseas until the Exer-Rest AT became available in October 2007, at which time we discontinued marketing of the AT-101.
The Exer-Rest AT is based upon the design and concept of the AT-101, but has the dimensions and appearance of a commercial extra long twin bed. The Exer-Rest AT, which was also manufactured by QTM until we stopped production in July 2009, weighs about half as much as the AT-101, has a much more efficient and less costly drive mechanism, has a much lower selling price than did the AT-101 and is designed such that the user can utilize and operate it without assistance. The wired hand held controller provides digital values for speed, travel and time, rather than analog values for speed and arbitrary force values as in the AT-101. Sales of the Exer-Rest AT began outside the United States in October 2007 and in the United States in February 2009. We discontinued manufacturing of the Exer-Rest AT in July 2009, and we no longer have any of these units available.
NON-INVASIVE MONITORING SYSTEMS, INC
The Exer-Rest AT3800 and Exer-Rest AT4700, which were manufactured for us by Sing Lin prior to the termination of our agreement with them, are next generation versions of the Exer-Rest AT and further advance the acceleration therapeutic platform technology. The AT3800 (38" wide) and AT4700 (47" wide) models combine improved drive technology for quieter operation, a more comfortable "memory-foam" mattress, more convenient operation with a multi-function wireless remote and a more streamlined look to improve the WBPA experience. Sales of the Exer-Rest AT3800 and Exer-Rest AT4700 platforms began outside the United States in October 2008, and U.S. sales commenced in February 2009.
LifeShirt�
The LifeShirt is a patented Wearable Physiological Computer that incorporates transducers, electrodes and sensors into a sleeveless garment. These sensors transmit vital and physiological signs to a miniaturized, battery-powered, electronic module which saves the raw waveforms and digital data to the compact flash memory of a Personal Digital Assistant ("PDA") attached to the LifeShirt. Users of the LifeShirt can enter symptoms (with intensity), mood and medication information directly into the PDA for integration with the physiologic information collected by the LifeShirt garment. The flash memory can then be removed from the LifeShirt and the data uploaded and converted into minute-by-minute median trends of more than 30 physical and emotional signs of health and disease. Vital and physiological signs can therefore be obtained non-invasively, continuously, cheaply and reliably with the comfortably worn LifeShirt garment system while resting, exercising, working or sleeping. The LifeShirt was sold exclusively by VivoMetrics, but has not been marketed since VivoMetrics ceased operations in July 2009. Under VivoMetrics' approved bankruptcy plan of reorganization, our license with VivoMetrics was assigned to another company; however, there can be no assurance as to the future amount of LifeShirt sales, if any, that may result from this license.
Critical Accounting Policies and Estimates
The discussion and analysis of our financial condition and results of operations set forth below under "Results of Operations" and "Liquidity and Capital Resources" should be read in conjunction with our financial statements and notes thereto appearing elsewhere in this Form 10-Q. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including those related to royalties, inventory, tooling and equipment and contingencies. The Company's accounting policy for loss contingencies complies with ASC 450-20-25-2. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. A more detailed discussion on the application of these and other accounting policies can be found in Note 2 in the Notes to the Consolidated Financial Statements set forth in Item 8 of our Annual Report on Form 10-K for the year ended July 31, 2013. Actual results may differ from these estimates.
Results of Operations
In January 2005, we began developing the Exer-Rest line of acceleration therapeutic platforms, which were designed to be more efficient and less expensive than the original AT-101 platform. The Exer-Rest AT platform was first available for delivery to certain locations outside of the United States in October 2007. Our newest platforms, the Exer-Rest AT3800 and AT4700, which we developed under our former agreement with Sing Lin, became available for sale in October 2008. In January 2009, the Exer-Rest line of therapeutic platforms was registered by the FDA in the United States as Class I (Exempt) Medical Devices. We began our US and international sales activity with aggressive marketing and promotional pricing beginning in February 2009. We opened our first demonstration and therapy center in Toronto, Canada in April 2009; however we closed that facility in January 2010 to focus our marketing and sales efforts on healthcare providers as well as individuals. We currently market the Exer-Rest to hospitals, cardiac rehabilitation clinics, chiropractic and physical therapy centers, senior living communities and other healthcare providers, as well as to their patients, professional athletes and other individuals.
NON-INVASIVE MONITORING SYSTEMS, INC
Three months ended October 31, 2013 compared to three months ended October 31, 2012
Revenues. Total revenues decreased from $49,000 for the three months ended October 31, 2012, to $1,000 for the three months ended October 31, 2013. This $48,000 decrease resulted from a $14,000 decrease in royalty revenues and a $34,000 decrease in product sales. There were no Exer-Rest platform product sales during the three months ended October 31, 2013 primarily due to not having a sales team.
Royalties from SensorMedics decreased $14,000 to $1,000 for the three months ended October 31, 2013 from $15,000 for the three months ended October 31, 2012. This decrease was primarily a result of lower product sales. As discussed above, there can be no assurance that we will receive any future royalties from the assignment of our license with VivoMetrics.
Cost of Sales. Cost of sales for the three months ended October 31, 2013 and 2012 was $0 and $11,000, respectively. This $11,000 decrease was primarily related to no Exer-Rest units being sold during the three months ended October 31, 2013.
Selling, general and administrative costs and expenses. Selling, general and administrative ("SG&A") costs and expenses decreased to $85,000 for the three months ended October 31, 2013 from $119,000 for the three months ended October 31, 2012. This $34,000 decrease was primarily attributable to decreases in stock-based compensation expense, payroll expenses, depreciation expense, insurance expense, legal and audit related costs. SG&A costs and expenses include stock-based compensation expense, which totaled $1,000 for the three months ended October 31, 2013, as compared to $4,000 for the three months ended October 31, 2012.
Research and development costs and expenses. Research and development ("R&D") costs and expenses decreased to $1,000 for the three months ended October 31, 2013 from $4,000 for the three months ended October 31, 2012, a decrease of $3,000. This was primarily due to less R&D activity associated with our Exer-Rest product.
Total operating costs and expenses. Total operating costs and expenses decreased $48,000 to $86,000 from $134,000 for the three months ended October 31, 2013 and 2012, respectively. This decrease was primarily attributable to the lower SG&A and R&D costs and expenses discussed above.
Other expense. Other expense was $33,000 and $31,000 for the three months ended October 31, 2013 and 2012, respectively. The $2,000 increase was primarily related to an increase in interest expense resulting from the addition of interest bearing promissory notes entered into by the Company (see Note 6).
Liquidity and Capital Resources
The Company's operations have been primarily financed through private sales of its equity securities and advances under Credit Facility and promissory notes. At October 31, 2013, we had approximately $187,000 of cash and negative working capital of approximately $68,000. We believe that the cash on hand at October 31, 2013 will not be sufficient to meet our anticipated cash requirements for operations over the next 12 months.
We expect to incur losses from operations for the foreseeable future. If we are not able to generate significant additional revenue, we will be required to obtain additional external financing through public or private equity offerings, debt financings or collaborative agreements to continue operations. No assurance can be given that such additional financing will be available on acceptable terms or at all. Our ability to sell additional shares of our stock and/or borrow cash could be materially adversely affected by the current climate in the global equity and credit markets. Current economic conditions have been, and continue to be, volatile and continued instability in these market conditions may limit our ability to access the capital necessary to fund and grow our business and to replace, in a timely manner, maturing liabilities. Additionally, the sales of equity or convertible debt securities may result in dilution to our stockholders.
Net cash used in operating activities was $109,000 and $5,000 for three months ended October 31, 2013 and 2012, respectively. This $104,000 increase is primarily due to outstanding accounts payable in fiscal year 2012 that was paid in fiscal year 2013, reduction in royalty and other receivables and increased accrued interest associated with the Credit Facility and promissory notes.
No cash was used or provided by investing activities for three months ended October 31, 2013 and 2012.
No cash was used or provided by financing activities for the three months ended October 31, 2013 and 2012.
Under our now-terminated agreement with Sing Lin, we were committed to purchase approximately $2.6 million of Exer-Rest units within one year of acceptance of the final product, which acceptance occurred in September 2008, and an additional $4.1 million and $8.8 million of products in the second and third years following acceptance of the final product, respectively. Under the agreement, we were required to pay a portion of the product purchase price at the time production orders were placed, with the balance due upon delivery. Through October 31, 2013, we paid Sing Lin $1.7 million in connection with orders placed through that date. As of October 31, 2013, we had not placed orders sufficient to satisfy the first-year or second-year purchase obligations under the agreement. We notified Sing Lin in June 2010 that we were terminating the agreement effective September 2010, and Sing Lin in July 2010 demanded that we place orders sufficient to fulfill the three year minimum purchase obligations in the agreement. There can be no assurance that Sing Lin will not attempt to enforce its remedies against us, or pursue other potential remedies. If Sing Lin seeks to enforce remedies against us, any such remedies could have a material adverse effect on our business, liquidity and results of operations. As of October 31, 2013, the Company had payables due to Sing Lin of approximately $41,000.
NON-INVASIVE MONITORING SYSTEMS, INC
On April 8, 2013, the Company entered into the Stock Purchase Agreement with the Investors pursuant to which the Investors agreed to purchase in a private placement an aggregate of 10,020,000 shares of the Company's common stock, par value $0.01 (the "Shares"), at a price of $0.05 per share, for aggregate consideration of $501,000. The $0.05 per share price was less than the market price, which was approximately $0.12 as of the date of the agreement. Among the Investors purchasing Shares pursuant to the agreement were Dr. Jane Hsiao, the Company's Chairman of the Board and Interim Chief Executive Officer and Frost Gamma, an entity controlled by Dr. Phillip Frost, one of the largest beneficial owners of the Company's common stock. Dr. Hsiao purchased 2.0 million Shares and Frost Gamma purchased 2.0 million Shares.
2010 Credit Facility. On March 31, 2010, the Company entered into a new Note and Security Agreement with Frost Gamma Investments Trust, a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Company's common stock ("Frost Gamma"), and Hsu Gamma Investments, LP, an entity controlled by the Company's Chairman and Interim Chief Executive Officer, Jane H. Hsiao ("Hsu Gamma" and together with Frost Gamma, the "Lenders"), pursuant to which the Lenders have provided a revolving credit line (the "Credit Facility") in the aggregate principal amount of up to $1.0 million, secured by all of the Company's personal property. The Company is permitted to borrow and reborrow from time to time under the Credit Facility until July 31, 2015 (the "Credit Facility Maturity Date"). The interest rate payable on amounts outstanding under the Credit Facility is 11% per annum, and increases to 16% per annum after the Credit Facility Maturity Date or after an event of default. All amounts owing under the Credit Facility are required to be repaid by the Credit Facility Maturity Date, and amounts outstanding are prepayable at any time. As of October 31, 2013, the Company had drawn an aggregate of $1,000,000 under the Credit Facility and there is no available balance remaining.
2011 Promissory Notes. On September 12, 2011, the Company entered into two promissory notes in the principal amount of $50,000 each with Frost Gamma and with an unrelated third party for a total of $100,000. The interest rate payable by NIMS on both the Frost Gamma note and the unrelated third party note is 11% per annum, payable on the maturity date of September 12, 2014 and subsequently the date was extended to July 31, 2015 (the "Promissory Notes Maturity Date"). The Company may prepay either or both notes in advance of the Promissory Notes Maturity Date without premium or penalty.
2012 Promissory Note. On May 30, 2012, the Company entered into a promissory note in the principal amount of $50,000 with Hsu Gamma, an entity controlled by NIMS' Chairman of the Board and Interim Chief Executive Officer, Jane H. Hsiao, (the "Hsu Gamma Note"). The interest rate payable by NIMS on the Hsu Gamma Note is 11% per annum, payable on the maturity date of September 12, 2014 and subsequently the date was extended to July 31, 2015. The Hsu Gamma Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty.
2013 Promissory Note. On February 22, 2013, the Company entered into a promissory note in the amount of $50,000 with Jane Hsiao, the Company's Chairman of the Board and Interim Chief Executive Officer (the "Hsiao Note"). The interest rate payable by the Company on the Hsiao Note is 11% per annum, originally payable on the maturity date of September 12, 2014 and subsequently the date was extended to July 31, 2015. The Hsiao Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty.
As of December 9, 2013, the Company had cash and cash equivalents of approximately $144,000, and did not have any further funding available under the Credit Facility. If we are unable to generate significant revenues from sales of Exer-Rest platforms, we will have insufficient funds to repay our existing debt and continue operations without raising additional capital. There can be no assurance that we will be able to raise such additional capital on terms acceptable to us or at all. This uncertainty, along with the Company's limited remaining cash balances, raises substantial doubt about the Company's ability to continue as a going concern.http://biz.yahoo.com/e/131216/nimu10-q.html
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Total Revenue 1 49 10 1
Cost of Revenue - 27 3 -
Gross Profit 1 22 7 1
Operating Expenses
Research Development 1 1 (2) -
Selling General and Administrative 85 108 101 116
Non Recurring - - - -
Others§- - - -
Total Operating Expenses - - - -
Operating Income or Loss (85) (87) (92) (115)
Income from Continuing Operations
Total Other Income/Expenses Net - - - -
Earnings Before Interest And Taxes (85) (87) (92) (115)
Interest Expense 33 33 31 33
Income Before Tax (118) (120) (123) (148)
Income Tax Expense - - - -
Minority Interest - - - -
Net Income From Continuing Ops (118) (120) (123) (148)
Non-recurring Events
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Changes - - - -
Other Items - - - -
Net Income (118) (120) (123) (148)
Preferred Stock And Other Adjustments - - - -
Net Income Applicable To Common Shares (118) (120) (123) (148)
http://finance.yahoo.com/q/is?s=nimu
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Avg Vol (10 day)3: 31,313
Shares Outstanding5: 78.94M
Float: 45.57M§
% Held by Insiders1: 40.12%
% Held by Institutions1: N/A
Shares Short 3: N/A
Short Ratio 3: N/A
Short % of Float 3: N/A
Shares Short (prior month)3: N/A
http://finance.yahoo.com/q/ks?s=NIMU+Key+Statistics
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52-Week Change3: 211.11%
S&P500 52-Week Change3: 23.19%
52-Week High (Nov 11, 2013)3: 0.40
52-Week Low (Jan 25, 2013)3: 0.08
50-Day Moving Average3: 0.28
200-Day Moving Average3: 0.28
http://finance.yahoo.com/q/ks?s=NIMU+Key+Statistics
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NON INVASIVE MONITORING SYSTEMS INC /FL/ FinancialsEDGAR Online Financials (Sat, Dec 21)
Monday, December 16, 2013
NON INVASIVE MONITORING SYSTEMS INC /FL/ Files SEC form 10-Q, Quarterly ReportEDGAR Online (Mon, Dec 16)
Tuesday, October 29, 2013
NON INVASIVE MONITORING SYSTEMS INC /FL/ Files SEC form 10-K, Annual ReportEDGAR Online (Tue, Oct 29)
Friday, August 16, 2013
5 Speculative Stocks Backed By Phillip Frostat Seeking Alpha (Fri, Aug 16)
Tuesday, August 6, 2013
NON INVASIVE MONITORING SYSTEMS INC /FL/ Files SEC form 8-K, Creation of a Direct Financial Obligation or an ObligatiEDGAR Online (Tue, Aug 6)
Friday, June 14, 2013
NON INVASIVE MONITORING SYSTEMS INC /FL/ Files SEC form 10-Q, Quarterly ReportEDGAR Online (Fri, Jun 14)
Wednesday, April 10, 2013
NON INVASIVE MONITORING SYSTEMS INC /FL/ Files SEC form 8-K, Entry into a Material Definitive Agreement, UnregisteredEDGAR Online (Wed, Apr 10)
Monday, March 18, 2013
NON INVASIVE MONITORING SYSTEMS INC /FL/ Files SEC form 10-Q, Quarterly ReportEDGAR Online (Mon, Mar 18)
Thursday, February 28, 2013
NON INVASIVE MONITORING SYSTEMS INC /FL/ Files SEC form 8-K, Creation of a Direct Financial Obligation or an ObligatiEDGAR Online (Thu, Feb 28)
Monday, December 17, 2012
NON INVASIVE MONITORING SYSTEMS INC /FL/ Files SEC form 10-Q, Quarterly ReportEDGAR Online (Mon, Dec 17)
http://finance.yahoo.com/q/h?s=NIMU+Headlines
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Levered Free Cash Flow (ttm): -224.12K
http://finance.yahoo.com/q/ks?s=NIMU+Key+Statistics
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Total Cash Per Share (mrq): 0.00
Total Debt (mrq): 1.20M
Total Debt/Equity (mrq): N/A
Current Ratio (mrq): 0.91
Book Value Per Share (mrq): -0.02
http://finance.yahoo.com/q/ks?s=NIMU+Key+Statistics
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