BioSig Technologies(BSGM)
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BioSig Technologies(BSGM) - 2021 Q4 - Annual Report
2022-03-30 16:00
Financial Performance - Total revenue for 2021 was $441 million, with product sales contributing $414 million and service revenue at $27 million[434]. - Gross profit for 2021 was $242 million, resulting in a gross margin of approximately 55%[434]. - Total operating expenses decreased to $33.7 million in 2021 from $59.2 million in 2020, a reduction of about 43%[434]. - Net loss attributable to common shareholders for 2021 was $31.9 million, improving from a net loss of $52.2 million in 2020, representing a 39% reduction[434]. - Net loss per common share improved to $(0.95) in 2021 from $(1.87) in 2020[434]. - The company reported a net loss of $32.9 million for the year ended December 31, 2021, compared to a net loss of $59.1 million for the previous year, representing a 44.5% improvement[444]. Assets and Liabilities - As of December 31, 2021, total assets decreased to $15,519,000 from $30,386,000 in 2020, representing a decline of approximately 48.9%[429]. - Cash reserves dropped significantly from $28,268,000 in 2020 to $11,659,000 in 2021, a decrease of about 58.7%[429]. - The company's accumulated deficit increased to $188,922,000 in 2021 from $157,005,000 in 2020, reflecting a rise of approximately 20.3%[429]. - Total current liabilities decreased to $2,576,000 in 2021 from $5,108,000 in 2020, a reduction of about 49.5%[429]. - The total stockholders' equity attributable to BioSig Technologies, Inc. fell to $12,241,000 in 2021 from $24,370,000 in 2020, a decline of approximately 49.8%[429]. Cash Flow and Financing - Cash used in operating activities was $26.4 million for the year ended December 31, 2021, slightly down from $26.6 million in 2020[444]. - The company raised $10.3 million through the sale of common stock during the year, with an additional $3 million raised post-year-end[452]. - The company experienced a decrease in cash and cash equivalents of $16.6 million during the year, ending with $11.7 million in cash[444]. - The company expects to require additional financing to fund future operations and reduce operating expenses through a strategic shift towards commercialization[455]. Research and Development - Research and development costs are expensed as incurred, with significant estimates related to third-party contracts impacting financial disclosures[422]. - Research and development expenses for 2021 were $5.6 million, down from $18.1 million in 2020[434]. Stock and Equity - The company reported a total of 35,567,180 common shares issued and outstanding as of December 31, 2021, compared to 30,764,792 in 2020, indicating an increase of approximately 15.7%[429]. - The weighted average number of common shares outstanding increased to 33,511,941 in 2021 from 27,906,584 in 2020[434]. - The total number of potentially dilutive securities increased to 5,612,112 as of December 31, 2021, compared to 5,280,609 in 2020[497]. - The company has 3,048,522 shares remaining available for future issuance under the 2012 Equity Incentive Plan as of December 31, 2021[558]. Expenses and Costs - General and administrative expenses decreased to $27.9 million in 2021 from $40.9 million in 2020, a decline of approximately 32%[434]. - The fair value of options vested in 2021 was $3,357,274, compared to $5,217,761 in 2020, indicating a decrease of approximately 35.7%[591]. - Stock-based compensation expense related to restricted stock grants was $950,281 for 2021, down from $1,151,676 in 2020, reflecting a decrease of approximately 17.5%[603]. Debt and Obligations - The company reported a gain on settlement of debt amounting to $553,000 in 2021[434]. - The company has not included any adjustments in the financial statements that might result from uncertainties regarding its ability to continue as a going concern[416]. - Management's evaluation of the company's ability to continue as a going concern is highlighted due to accumulated deficits and operating losses[416]. Inventory and Assets - Inventory increased to $1.9 million as of December 31, 2021, up from $0.8 million in 2020[481]. - Property and equipment net value rose to $652,000 as of December 31, 2021, compared to $289,000 in 2020[510]. - The right-to-use assets decreased from $1,087,000 in 2020 to $604,000 in 2021, while accumulated amortization increased from $781,000 to $199,000[520]. Leases and Contracts - The Company entered into a lease modification on February 10, 2021, adjusting the fixed monthly rent from $16,289 to $13,702[512]. - The Company extended its Rochester, Minnesota lease for approximately 1,400 square feet for two additional years at a fixed monthly rate starting at $3,513, increasing to $3,618 in the second year[516]. - As of December 31, 2021, the Company had outstanding leases with aggregate payments of $32,143 per month, expiring through December 31, 2024[519]. Options and Warrants - As of December 31, 2021, there were 4,568,484 options outstanding with a weighted average exercise price of $4.57 and a remaining life of 6.9 years[565]. - The company granted options with exercise prices ranging from $2.96 to $10.49 per share, with various vesting schedules[570][581]. - The company has unrecognized compensation expense of $3,655,519 as of December 31, 2021, which will be expensed in future periods[591].
BioSig Technologies (BSGM) Investor Presentation - Slideshow
2021-12-09 21:35
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BioSig Technologies(BSGM) - 2021 Q3 - Quarterly Report
2021-11-14 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share BSGM The NASDAQ Capital Market 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, 2021 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXC ...
BioSig Technologies(BSGM) - 2021 Q2 - Quarterly Report
2021-08-10 16:00
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 June 30, 2021 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38659 BIOSIG TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 26-4333375 (State or other jurisdiction o ...
BioSig Technologies(BSGM) - 2021 Q1 - Quarterly Report
2021-05-16 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share BSGM The NASDAQ Capital Market 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, 2021 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ...
BioSig Technologies (BSGM) Presents At 20th Annual Needham Virtual Healthcare Conference - Slideshow
2021-04-16 18:50
SY M BO L: BS G M 1 20th Annual Needham Virtual Healthcare Conference NASDAQ : BSGM | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...
BioSig Technologies (BSGM) Presents At Benzinga Biotech Small Cap Virtual Conference - Slideshow
2021-03-26 19:30
SY M BO L: BS G M 1 Benzinga Biotech Small Cap Conference March 2021 NASDAQ : BSGM | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...
BioSig Technologies(BSGM) - 2020 Q4 - Annual Report
2021-03-14 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2020 Commission File Number 001-38659 BIOSIG TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 26-4333375 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 54 Wilton Road, 2nd Floor Westport, CT 06880 (203) 409-5444 (Address o ...
BioSig Technologies (BSGM) Presents At Virtual Winter Conference 2021 - Slideshow
2021-01-15 22:09
S Y M BOL: BSG M 1 Sidoti Winter 2021 Investor Conference January 13th – 14th, 2021 NASDAQ : BSGM | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...
BioSig Technologies, Inc. (BSGM) CEO Ken Londoner on Business Development Update Conference Call (Transcript)
2020-11-19 23:08
Summary of BioSig Technologies, Inc. Business Development Update Conference Call Company Overview - **Company**: BioSig Technologies, Inc. (OTCQB: BSGM) - **Date of Call**: November 18, 2020 - **Participants**: - Ken Londoner - Chairman and CEO - Andy Ballou - Vice President of Investor Relations - Other participants from Laidlaw & Company, Plum Tree Consulting, and JJK Consulting Key Points Industry and Business Updates - **Core Business**: Focus on the PURE EP System installations and commercialization outlook [4][12] - **ViralClear Subsidiary**: - Phase 2 clinical trial for merimepodib halted based on Safety Monitoring Committee's recommendation [7] - Operations winding down, with cash proceeds redirected to NeuroClear neuro technology program [9][11] - Engaging with three pharmaceutical/biotech companies for potential partnerships [10] Financial Performance - **Cash Position**: $32.7 million on the balance sheet, sufficient to support operations through 2021 and into 2022 [24] - **Burn Rate**: Approximately $1.4 million per month for the PURE EP business, with a total burn of $6.2 million in Q3 2020 [24][29] - **Commercial Inventory**: 65 units of commercial inventory already paid for, expected to generate revenue over the next 12 months [25] PURE EP System Progress - **Installations**: - Total of six installations completed, with plans for two additional installations [12][15] - Positive feedback from physicians using the system, with 363 total procedures performed year-to-date [13][14] - **Clinical Data**: - 35.5% of cases showed BioSig signals had more visible components compared to traditional systems [17] - Ongoing collection of clinical data to support future studies and marketing efforts [19][66] Market Strategy and Future Plans - **Expansion Plans**: - Targeting 12 to 16 hospitals for limited market release, with a focus on Northeast, Florida, and Texas regions in 2021 [20][21] - Plans to recruit additional sales and marketing personnel to support expansion [21] - **Commercial Transactions**: Expecting first commercial transaction in Q4 2020, with visibility for more based on successful installations [22] Challenges and Considerations - **COVID-19 Impact**: The pandemic has affected installation timelines, with some installations pushed to Q1 2021 [15][49] - **ViralClear Investments**: Investors in ViralClear will hold a stake in the NeuroClear program as the company seeks to create value from these assets [52] Additional Insights - **User Feedback**: Positive user feedback has led to software upgrades planned for early 2021 [33] - **Revenue Model**: Revenue will be generated from hardware sales, service contracts, and software upgrades [56][60] - **Clinical Trials**: Plans for investigator-initiated clinical trials to further validate the efficacy of the PURE EP system [66] Conclusion - BioSig Technologies is making significant progress in the commercialization of its PURE EP System, with a strong financial position and positive feedback from early adopters. The company is strategically planning for expansion and is optimistic about future growth despite challenges posed by the COVID-19 pandemic.