Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 001-34426 Astrotech Corporation (Exact Name of Registrant as Specified in its Charter) ...

Corporate Actions - The company announced a Reverse Stock Split at a ratio of 1-for-30 to comply with Nasdaq listing requirements[15]. - The Rights Agreement adopted by the company is intended to protect stockholder interests and long-term value[15]. - The company has appointed Bob McFarland to the Board of Directors and Thomas B. Pickens III as Chief Technology Officer to enhance its management team[16]. - The company has a limited duration stockholder rights plan expiring on December 20, 2023[366]. Product Development and Innovation - The AgLAB 1000-D2™ mass spectrometer is designed to improve yields and profits for hemp (CBD) and cannabis (THC) producers, with confirmed results from field trials[17][29]. - The AgLAB 1000-D2™ aims to reduce waste in distillation processes, providing a competitive advantage over high-performance liquid chromatography technology[27]. - AgLAB has launched the AgLAB-1000-D2 to enhance distillation processes in the hemp and cannabis industry, with plans for further product development[40]. - The BreathTest-1000™ is being developed to screen for VOC metabolites, with significant milestones achieved in distinguishing infected from healthy breath samples[32]. - The BreathTest-1000 is under development to provide a non-invasive screening device for infections, with potential applications in high-density locations[41]. - The company is exploring the Emergency Use Authorization (EUA) process to expedite the market entry of the BreathTest-1000 amid ongoing public health concerns[55]. - The company is committed to R&D investments focused on cross-platform AMS Technology to enhance product functionality and reliability[51]. Market Trends and Opportunities - The U.S. CBD market is projected to reach $20 billion by 2024, with a CAGR of 49% from 2019 to 2024[24]. - The cannabis crop's wholesale value in the U.S. exceeds $6 billion annually, driven by growing acceptance and legislative changes[24]. - The company is focused on expanding its market presence in the agriculture and security sectors through its subsidiaries[13][20]. - The TRACER 1000 explosive trace detector is deployed in 29 locations across 14 countries, certified by the European Civil Aviation Conference (ECAC)[21]. - The TRACER 1000 is currently marketed in 29 locations across 14 countries, with ongoing sales efforts in the cargo security and airport passenger screening markets[39]. - The company is working with the U.S. Transportation Security Administration towards air cargo certification for the TRACER 1000, which could enhance market opportunities in the U.S.[300]. Financial Performance - Revenue for the fiscal year ended June 30, 2023, was $750 thousand, a decrease from $869 thousand in the previous year, representing a decline of approximately 13.6%[307]. - Net loss for the fiscal year ended June 30, 2023, was $9,642 thousand, compared to a net loss of $8,330 thousand for the previous year, indicating an increase in loss of approximately 15.8%[292]. - Basic and diluted net loss per common share for the fiscal year ended June 30, 2023, was $(5.95), compared to $(5.24) for the previous year, reflecting a worsening of approximately 13.5%[287]. - Total operating expenses for the fiscal year ended June 30, 2023, were $8,787 thousand, up from $8,595 thousand in the previous year, an increase of approximately 2.2%[287]. - The company reported a total comprehensive loss of $9,896 thousand for the fiscal year ended June 30, 2023, compared to a total comprehensive loss of $9,506 thousand in the previous year, an increase of approximately 4.1%[287]. - Research and development expenses for the fiscal year ended June 30, 2023, were $5.6 million, compared to $2.8 million for the fiscal year ended June 30, 2022, indicating a 100% increase[317]. Assets and Liabilities - The company reported cash and cash equivalents of $14,208,000 as of June 30, 2023, down from $26,453,000 in 2022, indicating a decrease of approximately 46%[284]. - Total current assets decreased to $44,713,000 in June 2023 from $54,950,000 in June 2022, reflecting a decline of about 19%[284]. - The company has total liabilities of $2,956,000 as of June 30, 2023, slightly down from $2,985,000 in 2022[284]. - The company’s total assets decreased to $47,675,000 in June 2023 from $56,221,000 in June 2022, reflecting a decline of approximately 15%[284]. - The company’s inventory of raw materials increased to $1,379,000 in June 2023 from $864,000 in June 2022, marking a growth of approximately 60%[284]. - The company’s operating lease right-of-use assets increased to $262,000 in June 2023 from $162,000 in June 2022, showing a rise of about 62%[284]. Regulatory Compliance - The company is in discussions with the FDA regarding the classification of the BreathTest-1000, which will determine the necessary premarket submission process[54]. - The FDA's 510(k) review process typically takes between three to six months, but may extend longer depending on the need for additional information[62]. - Class III devices require submission through the PMA process, which is more demanding than the 510(k) process, and the FDA has 180 days to complete its review, although it often takes significantly longer[66]. - The de novo classification procedure allows manufacturers to request down-classification of a device from Class III to Class I or II, with a review time set at 120 days, though the FDA has only committed to a 150-day review for 50% of applications[65]. - Manufacturers must cease marketing modified devices until a new 510(k), de novo, or PMA is cleared or approved by the FDA, which may lead to significant regulatory fines[64]. - The FDA may approve a PMA application with post-approval conditions, including restrictions on labeling and the requirement for long-term follow-up data from clinical studies[67]. - Changes to an approved device that affect safety or effectiveness require submission of a PMA supplement, which may not require as extensive clinical data as the original PMA[69]. - The FDA can issue an Emergency Use Authorization (EUA) under specific circumstances, allowing the temporary use of unapproved medical devices[70]. - Clinical trials are often required to support de novo or PMA submissions, and must comply with FDA's IDE regulations[72]. - Post-market regulations include stringent quality assurance procedures and reporting requirements for adverse events, which must be adhered to by manufacturers[75]. - The FDA's recall authority allows it to order manufacturers to recall products that violate laws and regulations, ensuring public health safety[76]. - The FDA has broad regulatory compliance and enforcement powers, which may result in sanctions such as fines, recalls, and product seizures if the company fails to comply with applicable regulations[77]. - Medical devices in the EEA must meet essential requirements to ensure patient safety and device performance, with compliance viewed as the easiest way to satisfy these requirements[78]. - Manufacturers must undergo a conformity assessment procedure for medical devices, which typically requires the intervention of a Notified Body, except for low-risk devices[79]. - The Medical Devices Regulation (Regulation 2017/745) will be directly applicable in all EEA member States starting May 2021, establishing a uniform regulatory framework for medical devices[82]. - Non-compliance with medical device regulations may lead to enforcement actions, including the suspension of marketing and use, or recalls of unsafe devices[83]. - The company is subject to various foreign regulations regarding product standards, safety reporting, marketing, and clinical trials, which may differ significantly from FDA requirements[84]. Legal and Compliance Risks - Violations of the federal Anti-Kickback Statute can result in civil monetary penalties up to $100,000 for each violation, plus treble damages[87]. - The federal civil False Claims Act prohibits presenting false claims for payment to the government, with penalties including fines and potential exclusion from federal healthcare programs[88]. - The HIPAA privacy regulations require notification of patients in the event of a breach of unsecured Protected Health Information (PHI), with penalties for non-compliance reaching up to $63,973 per violation[96]. - The California Consumer Privacy Act (CCPA) creates new data privacy obligations and rights for California residents, potentially increasing risks associated with data breaches[98]. Shareholder Actions - The company repurchased $119 thousand in treasury stock during fiscal year 2023, reflecting a strategic move to enhance shareholder value[333]. - The share repurchase program allows for up to $1,000,000 in common stock repurchases, effective from November 17, 2022, to November 17, 2023[365]. - The company repurchased 10,316 shares of common stock at an aggregate cost of $118,532 during the year ended June 30, 2023[366]. - The company has issued 280,898 shares of Series D convertible preferred stock, all of which were outstanding as of June 30, 2023[364]. - The weighted average exercise price of outstanding warrants remained at $72.10, with 80,000 shares outstanding as of June 30, 2023[369]. - The company has a total of 80,000 warrants outstanding, with various exercise prices and expiration dates[370].

Financial Performance - Total revenue for the third quarter of fiscal 2023 decreased by $62 thousand to $35 thousand compared to $97 thousand in the same quarter of fiscal 2022[124]. - Gross profit for the third quarter of fiscal 2023 was $11 thousand, resulting in a gross margin of 31%, down from 53% in the same quarter of fiscal 2022[124]. - Total revenue decreased by $509 thousand to $336 thousand for the nine months ended March 31, 2023, compared to $845 thousand in the same period of 2022[130]. - Gross profit was $125 thousand with a gross margin of 37%, an increase of 15% from 22% in the previous year, attributed to a higher proportion of recurring revenue[130][131]. Operating Expenses - Operating expenses increased by $563 thousand, or 25.6%, in the third quarter of fiscal 2023, primarily due to a significant rise in research and development expenses, which increased by $633 thousand, or 87.7%[126]. - Operating expenses increased by $1.8 million, or 27.2%, totaling $8.453 million for the nine months ended March 31, 2023, compared to $6.643 million in the prior year[131]. - Research and development expenses surged by $1.8 million, or 91.1%, driven by technology improvements and increased headcount[132]. Other Income - Other income increased by $328 thousand in the third quarter of fiscal 2023 due to higher income from capital-preservation investments as interest rates rose[126]. - Other income increased by $855 thousand, totaling $1.006 million for the nine months ended March 31, 2023, due to higher income from short-term investments[132]. Cash Flow and Financial Position - Cash and cash equivalents decreased by $12 million to $14.4 million as of March 31, 2023, compared to $26.4 million as of June 30, 2022[137]. - Net cash used in operating activities was $6.34 million for the nine months ended March 31, 2023, an increase of $1.176 million from $5.164 million in the prior year[136]. - The company authorized a share repurchase program of up to $1 million, with 5,821 shares repurchased at a cost of $69,070 during the three and nine months ended March 31, 2023[141][142]. Tax Positions - The effective tax rate for the nine months ended March 31, 2023, is 0%, with a full valuation allowance on deferred tax assets due to expected future losses[144]. - The company has approximately $400 thousand of uncertain tax positions as of March 31, 2023, all accounted as contra-deferred tax assets[147]. Product Development and Market Expansion - The TRACER 1000 has been deployed in approximately 21 locations across 14 countries in Europe and Asia as of March 31, 2023[113]. - AgLAB's field trials demonstrated an average yield improvement of 30% in the distillation process for THC and CBD oil[116]. - BreathTech is developing the BreathTest-1000 to screen for VOC metabolites, with ongoing studies expanding to various diseases beyond COVID-19[117]. - The company plans to launch a family of "process control" methods and solutions to enhance its offerings in the nutraceutical distillation market[115]. Shipping and Supply Chain - The gross margin decreased by 22% in the third quarter of fiscal 2023 compared to the same quarter in fiscal 2022, attributed to increased shipping expenses[125]. - The company is focused on securing alternative supplies to mitigate the impact of global semiconductor shortages on production[119].

Revenue and Profitability - Total revenue decreased by $298 thousand in Q2 FY2023 compared to Q2 FY2022, primarily due to a shift in sales focus from the ETD market to the AgLAB 1000-D2 commercialization[123] - Gross profit for Q2 FY2023 was $108 thousand, with a gross margin of 41%, an increase of 20% from the same quarter in the previous year[124] - Total revenue decreased by $447 thousand in fiscal year 2023, with all revenue derived from TRACER 1000 unit sales and rentals, as well as consumables and maintenance services[128] - Gross profit for the six months ended December 31, 2022, was $114 thousand, with a gross margin of 38%, up from 18% in the prior year[128] - Other income increased by $316 thousand in Q2 FY2023 due to higher earnings from capital-preservation investments as interest rates rose[125] - Other income increased by $527 thousand, driven by higher income from short-term investments and reduced interest expenses[131] - The company anticipates that the AgLAB market will provide more profitable opportunities compared to the ETD market[128] Operating Expenses - Operating expenses increased by $542 thousand, or 22.8%, in Q2 FY2023, driven by a 109.2% increase in research and development expenses[125] - Operating expenses increased by $1.2 million, or 28.1%, during the six months ended December 31, 2022, primarily due to a 93% increase in research and development expenses[129][130] - Selling, general and administrative expenses decreased by $170 thousand, or 9.8%, in Q2 FY2023 compared to the same period last year[125] Cash Flow and Investments - Cash and cash equivalents decreased by $10.6 million to $15.9 million as of December 31, 2022, compared to June 30, 2022[135] - Net cash used in operating activities increased by $771 thousand for the six months ended December 31, 2022, due to higher prepayments and operating expenses[136] - Cash used in investing activities rose by $5.5 million, primarily due to purchases of short-term time deposit investments[137] - The company authorized a share repurchase program of up to $1.0 million, effective from November 17, 2022, through November 17, 2023[139] Product Development and Market Focus - AgLAB is developing the AgLAB 1000-D2 series to optimize THC and CBD oil yields during distillation, with initial production runs beginning in Q1 FY2023[114] - BreathTech is developing the BreathTest-1000 to screen for VOC metabolites, with preliminary results indicating it can differentiate between background breath and disease VOCs[116] - The TRACER 1000 has been deployed in approximately 21 locations across 14 countries as of December 31, 2022[111] Supply Chain and External Factors - The company is focused on securing alternative supplies and managing production to mitigate the impact of supply chain shortages[118] - The long-term impact of the COVID-19 pandemic on the company's business may not be fully reflected until future periods[118] Taxation - The effective tax rate for the six months ended December 31, 2022, was 0%, with a full valuation allowance on deferred tax assets due to expected future losses[141]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 001-34426 Astrotech Corporation (Exact Name of Registrant as Specified in its Charter) | --- | --- | --- ...

Product Development and Innovation - The TRACER 1000, developed by 1st Detect, is the world's first mass spectrometer-based explosives trace detector certified by ECAC, designed to replace existing ETDs at airports and cargo facilities[10]. - The AgLAB-1000 series, developed by AgLAB Inc., is focused on detecting trace levels of solvents and pesticides in the agriculture industry, particularly in the hemp and cannabis markets[12]. - The Company launched the BreathTest-1000, a breath analysis tool aimed at screening for VOC metabolites that could indicate infections like COVID-19, with results expected in approximately 60 seconds[18]. - The AgLAB-1000-D2 has been launched to assist in the oil extraction and distillation process, maximizing product quality and yield for the hemp and cannabis industry[15]. - The BreathTest-1000 is designed to screen for VOC metabolites in breath, indicating potential infections like COVID-19, targeting high-density areas such as hospitals and schools[21]. - The BreathTest-1000 employs core AMS Technology, with ongoing R&D focused on sample introduction and library development for lung infection detection[24]. - The AgLAB-1000 series continues to develop its libraries for cannabinoids, terpenes, solvents, and pesticides, with plans for product line expansion in the hemp and cannabis industry[23]. - Significant resources are allocated to R&D for cross-platform AMS Technology, focusing on product derivatives and system improvements[22]. Financial Performance - Total revenue for the year ended June 30, 2020, was $488 million, a significant increase from $127 million in 2019, representing a growth of 284%[121]. - Gross profit for the same period was $39 million, compared to $37 million in 2019, indicating a slight increase[121]. - The net loss for the year was $8,311 million, compared to a net loss of $7,534 million in 2019, reflecting a deterioration in financial performance[121]. - The accumulated deficit increased to $199,779,000 in 2020 from $191,698,000 in 2019, indicating ongoing financial challenges[119]. - The company reported total stockholders' equity of $625,000 as of June 30, 2020, down from $2,708,000 in 2019[119]. - The total liabilities and stockholders' equity amounted to $5,930,000 as of June 30, 2020, compared to $3,692,000 in 2019[119]. - The company has suffered recurring losses from operations, raising substantial doubt about its ability to continue as a going concern[116]. Regulatory Compliance - The FDA classification for the BreathTest-1000 is pending, which will determine the necessary premarket submission process[24]. - The company is exploring the Emergency Use Authorization (EUA) to expedite the market entry of the BreathTest-1000, which could take one to several months for authorization[25]. - Class III medical devices require submission through the Premarket Approval (PMA) process, which is more demanding than the 510(k) process, and can take up to several years for FDA review[31]. - The FDA has 180 days to complete its review of a PMA application, although actual review times often exceed this period[31]. - The FDA may approve a PMA application with post-approval conditions, including restrictions on labeling and requirements for long-term follow-up data from clinical studies[31]. - Medical device manufacturers must undergo a conformity assessment procedure to demonstrate compliance with essential requirements in the European Economic Area (EEA)[38]. - The Medical Devices Regulation (Regulation 2017/745) will become applicable in May 2021, establishing a uniform regulatory framework across the EEA[39]. - Non-compliance with medical device regulations may result in enforcement actions, including recalls and revocation of certificates of conformity[39]. - The FDA has broad regulatory compliance and enforcement powers, which can include fines, recalls, and criminal prosecution for violations[36]. Corporate Governance and Management - The board of directors includes experienced members such as Thomas B. Pickens III, who has served since 2004, and Ronald W. Cantwell, who has extensive experience in corporate investment structuring[188][195]. - The Company’s Code of Ethics and Business Conduct applies to all directors, officers, and employees, ensuring legal and ethical conduct[211]. - The Audit Committee met four times during fiscal year 2020, ensuring compliance with Nasdaq and SEC rules[205]. - The Compensation Committee met once during fiscal year 2020 to determine executive compensation[209]. - The Corporate Governance and Nominating Committee did not meet during fiscal year 2020[210]. - Management's report on internal controls was not subject to attestation by the registered public accounting firm, as permitted under the Dodd-Frank Act[186]. - Mr. Wilkinson has significant financial experience and is recognized as an "audit committee financial expert" by the SEC[198]. - Eric N. Stober has been with Astrotech Corporation since 2008 and became CFO in 2013, bringing extensive experience in private equity and finance[199]. - Rajesh Mellacheruvu has served as Vice President and COO since February 2015 and is also the CEO of 1st Detect[200]. Market and Sales Strategy - The Company is currently focused on developing partnerships with distributors in the hemp and cannabis market to enhance sales of the AgLAB product line[18]. - The TRACER 1000 has been delivered to eight countries across Europe and Asia, indicating successful international market penetration[8]. - The Company has received ECAC certification for the TRACER 1000, allowing it to market to airports and cargo facilities outside the U.S.[10]. - The company is working with TSA for certification in the U.S., with the TRACER 1000 accepted into TSA's Air Cargo Screening Technology Qualification Test[128]. - For the fiscal year ended June 30, 2020, one customer accounted for 100% of the company's revenue, highlighting a significant concentration risk[168]. Liquidity and Capital Resources - The Company raised approximately $1.6 million from the sale of 354,000 shares at $5.00 per share and $2.9 million from 873,335 shares at $3.75 per share in March 2020[8]. - The company is evaluating several potential sources for additional liquidity, including selling the company or a portion thereof, licensing technology, and raising funds through capital markets[151]. - The company entered into a private placement transaction for a secured promissory note with a principal amount of $1.5 million on September 5, 2019, and an additional $1.0 million on February 13, 2020[151]. - The company has a total of $1.5 million in secured promissory notes with an interest rate of 11% per annum, due on September 5, 2021[162]. - The company reported net cash used in operating activities of $6.9 million for the fiscal year 2020, compared to $8.5 million for the fiscal year 2019[150]. Employee and Compensation Matters - As of June 30, 2020, the company employed 27 employees, none of whom were covered by collective bargaining agreements[45]. - The company has 325,313 stock options outstanding with a weighted average exercise price of $5.68 as of June 30, 2020[171]. - Compensation costs recognized related to vested stock option awards were $147,000 for the year ended June 30, 2020[171]. - The company recognized compensation costs related to vested restricted stock awards of $202 thousand for the year ended June 30, 2020, compared to $135 thousand for the previous year[173]. - The company has $13,000 of total unrecognized compensation cost related to non-vested stock option awards, expected to be recognized over a weighted average period of 2.3 years[171].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 001-34426 Astrotech Corporation (Exact Name of Registrant as Specified in its Charter) Delaware 91-1273737 | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 001-34426 Astrotech Corporation (Exact Name of Registrant as Specified in its Charter) Delaware 91-127373 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 001-34426 Astrotech Corporation (Exact Name of Registrant as Specified in its Charter) Delaware 91-12737 ...

Financial Performance - Astrotech reported a net loss of $3.6 million for the fiscal year ended June 30, 2019, compared to a net loss of $6.1 million in the previous year, indicating a reduction in losses [140]. - The company reported a net loss of $7.5 million for the fiscal year 2019, compared to a net loss of $13.3 million for the fiscal year 2018 [175]. - Total revenue increased by $41 thousand, or 48%, to $127 thousand for the fiscal year ended June 30, 2019, compared to $86 thousand for the fiscal year ended June 30, 2018 [159]. - Cost of revenue increased by $54 thousand, or 150%, for the fiscal year ended June 30, 2019, leading to a gross profit decrease of $13 thousand, or 29% [160]. - Operating expenses decreased by $4.9 million, or 37%, for the fiscal year ended June 30, 2019, driven by reductions in selling, general and administrative expenses and research and development expenses [161]. - Income tax benefit increased by $858 thousand for the year ended June 30, 2019, due to the Alternative Minimum Tax credit from the Tax Cuts and Jobs Act [164]. Research and Development - Research and development expenses decreased from $6.1 million in fiscal year 2018 to $3.6 million in fiscal year 2019, primarily due to reduced compensation and related expenses [140]. - The company may have to delay or reduce research and development programs if additional funding is not secured in a timely manner [178]. Assets and Cash Flow - Total assets decreased to $3.7 million as of June 30, 2019, from $5.1 million as of June 30, 2018 [165]. - Current assets decreased by $1.6 million as of June 30, 2019, primarily due to funding normal operating activities [165]. - Net cash used in operating activities was $8.5 million for the year ended June 30, 2019, a decrease from $10.8 million in the previous year [171]. - Net cash used in operating activities was $8.5 million for fiscal year 2019, down from $10.8 million in fiscal year 2018 [175]. - Net cash provided by investing activities was $3.6 million for the year ended June 30, 2019, down from $9.2 million in the previous year [172]. - Cash provided by financing activities was $5.9 million for the year ended June 30, 2019, compared to cash used in financing activities of $7 thousand in the previous year [173]. - As of June 30, 2019, the company had cash and cash equivalents of $1.6 million and working capital of approximately $1.9 million [175]. Financing Activities - The company raised approximately $3.0 million by selling 866,950 Series B Preferred Shares and 409,645 Common Shares at a price of $2.35 per share [175]. - In April 2019, the company sold 280,898 Series C and Series D Preferred Shares for aggregate gross proceeds of approximately $2.0 million at a price of $3.56 per share [177]. - The company has sold 214,202 shares of common stock under an ATM Sales Agreement, receiving net proceeds of $1,042,243 at a weighted-average sale price of $5.02 per share [177]. - The company is evaluating various potential sources for additional liquidity, including debt and equity financing, mergers, or strategic partnerships [175]. - Future capital requirements will depend on factors such as market expansion, research and development progress, and potential strategic acquisitions [179]. Technology and Products - The TRACER 1000, developed by 1st Detect, is the world's first certified mass spectrometer-based explosives trace detector, designed to replace outdated technology and improve detection capabilities [124]. - The TRACER 1000 has passed ECAC certification for both passenger and cargo screening, with significant interest from prospective customers leading to successful demos and field trials [127]. - The AG-LAB-1000 series developed by Agriculture Technology Corporation is designed for real-time detection of pesticides and cannabinoids in agricultural products, addressing increasing regulatory needs [129]. - Astral Images Corporation's technology focuses on film restoration and enhancement, utilizing AI to improve resolution and color gamut for ultra-high definition viewing [130]. Impairment and Expenditures - An impairment charge of $1.6 million was recorded for Astral assets due to limited market development and minimal revenues from contracts [148]. - The company has minimized expenditures and headcount at Astral, focusing on strategic initiatives to realize its value [131]. Revenue Recognition - Astrotech's revenue recognition methodologies were updated in fiscal year 2019 to comply with FASB ASC Topic 606, establishing a five-step process for recognizing revenue [138]. - The company anticipates collecting all unreserved receivables within one year, with no allowance for doubtful accounts deemed necessary as of June 30, 2019 [144]. Off-Balance Sheet Arrangements - As of June 30, 2019, the company did not have any off-balance sheet arrangements [180]. - As of June 30, 2019, the Company had no credit facilities [174].