● Fair value of derivative liabilities In determining the fair values of the derivative liabilities from the conversion and redemption features, the Company used MonteCarlo and lattice models with the following assumptions: dividend yields, volatility, risk-free rate and the remaining expected life. Changes in those assumptions and inputs could in turn impact the fair value of the derivative liabilities and can have a material impact on the reported loss and comprehensive loss for the applicable reporting p ...

Biotricity, Inc. (NASDAQ:BTCY) Q2 2024 Earnings Conference Call November 14, 2023 6:00 PM ET Company Participants Debra Chen - IR Waqaas Al-Siddiq - Founder and CEO John Ayanoglou - CFO Conference Call Participants Michael Davin - H.C. Wainwright Operator Good afternoon, and welcome to Biotricity's Second Quarter Fiscal 2024 Financial Results and Business Update Conference Call. Today's conference is being recorded. And at this time, I would like to turn the conference over to Debra Chen with Investor Relat ...

Part I – Financial Information [Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201%20%E2%80%93%20Condensed%20Consolidated%20Financial%20Statements) The company's unaudited condensed consolidated financial statements for September 30, 2023, show increased revenue and gross profit, but continued net losses and a going concern uncertainty - The company has incurred recurring losses, resulting in an accumulated deficit of **$120.1 million** and a working capital deficiency of **$12.6 million** as of September 30, 2023. These conditions raise substantial doubt about its ability to continue as a going concern[27](index=27&type=chunk) Condensed Consolidated Balance Sheet Data (as of Sept 30, 2023 vs Mar 31, 2023) | Balance Sheet Item | September 30, 2023 ($) | March 31, 2023 ($) | | :--- | :--- | :--- | | **Total Current Assets** | 5,178,206 | 4,720,202 | | **Total Assets** | 6,823,837 | 6,510,544 | | **Total Current Liabilities** | 17,824,363 | 11,160,768 | | **Total Liabilities** | 32,295,289 | 26,355,929 | | **Total Stockholders' Deficiency** | (26,729,036) | (19,845,385) | Condensed Consolidated Statements of Operations Data (Six Months Ended Sept 30) | Metric | 2023 ($) | 2022 ($) | | :--- | :--- | :--- | | **Revenue** | 5,912,062 | 4,437,441 | | **Net Revenue (Gross Profit)** | 3,915,982 | 2,505,366 | | **Loss from Operations** | (4,502,159) | (8,117,648) | | **Net Loss** | (7,103,722) | (9,468,800) | | **Net Loss Attributable to Common Stockholders** | (7,482,861) | (9,928,756) | | **Loss Per Share (Basic and Diluted)** | (0.853) | (1.153) | Condensed Consolidated Statements of Cash Flows (Six Months Ended Sept 30) | Cash Flow Activity | 2023 ($) | 2022 ($) | | :--- | :--- | :--- | | **Net cash used in operating activities** | (4,222,154) | (8,490,203) | | **Net cash provided by (used in) financing activities** | 4,758,634 | (1,105,998) | | **Net increase (decrease) in cash** | 536,480 | (9,596,201) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202%20%E2%80%93%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses significant revenue growth, improved gross margins, and reduced operating expenses, despite continued net losses and a going concern risk - The company is focused on a recurring revenue model, with technology fees from its Bioflux and Biotres products being the primary driver of growth. Sales have expanded to **32 U.S. states** as of September 30, 2023[197](index=197&type=chunk)[354](index=354&type=chunk) - In September 2023, the company issued **220 shares** of Series B Convertible Preferred Stock, raising gross proceeds of **$2.0 million** (**$1.9 million** net). This financing is intended to support operations and growth initiatives[154](index=154&type=chunk)[395](index=395&type=chunk) - Management emphasizes its commitment to financial discipline and leveraging AI to improve margins and drive revenue growth. The company has established relationships with Amazon and Google to enhance its proprietary cardiac AI model[173](index=173&type=chunk)[356](index=356&type=chunk) - A going concern risk exists due to recurring losses and a working capital deficit. The company plans to seek additional debt or equity capital to fund operations, product development, and expansion[158](index=158&type=chunk)[241](index=241&type=chunk) [Results of Operations](index=46&type=section&id=Results%20of%20Operations) For the three and six months ended September 30, 2023, revenue grew significantly with improved gross margins and reduced operating expenses, narrowing the net loss Three Months Ended September 30, 2023 vs 2022 | Metric | Q3 2023 ($) | Q3 2022 ($) | Change (%) | | :--- | :--- | :--- | :--- | | **Revenue** | 2,891,297 | 2,381,389 | +21.4% | | **Gross Profit** | 1,999,278 | 1,280,237 | +56.2% | | **Gross Margin** | 69.1% | 53.8% | +15.3 pts | | **Total Operating Expenses** | 4,174,951 | 5,309,224 | -21.4% | | **Loss from Operations** | (2,175,673) | (4,028,987) | +46.0% | | **Net Loss** | (3,690,840) | (4,692,548) | +21.3% | - Technology fees for Q3 2023 increased **30.3%** YoY to **$2.7 million**, comprising **94.5%** of total revenue. The gross margin improvement is attributed to higher-margin technology fees and AI-driven efficiencies in data processing[177](index=177&type=chunk) Six Months Ended September 30, 2023 vs 2022 | Metric | 2023 ($) | 2022 ($) | Change (%) | | :--- | :--- | :--- | :--- | | **Revenue** | 5,912,062 | 4,437,441 | +33.1% | | **Gross Profit** | 3,915,982 | 2,505,366 | +56.3% | | **Gross Margin** | 66.2% | 56.5% | +9.7 pts | | **Total Operating Expenses** | 8,418,141 | 10,623,014 | -20.7% | | **Loss from Operations** | (4,502,159) | (8,117,648) | +44.5% | | **Net Loss** | (7,103,722) | (9,468,800) | +25.0% | - For the six-month period, selling, general and administrative (SG&A) expenses decreased by **21.9%** or **$2.0 million** YoY, reflecting increased monitoring of spending efficiency[211](index=211&type=chunk) [Liquidity and Capital Resources](index=52&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2023, the company had $1.2 million in cash, with improved operating cash flow and significant financing inflows, while acknowledging going concern doubts - The company had cash deposits of approximately **$1.2 million** as of September 30, 2023[393](index=393&type=chunk) - For the six months ended September 30, 2023, net cash from financing activities was **$4.8 million**, mainly from the issuance of Series B preferred stock (**$1.9M**), convertible notes (**$2.0M**), and short-term loans (**$0.8M**)[131](index=131&type=chunk)[415](index=415&type=chunk) - Management states that existing cash, access to funding, and anticipated near-term financings will be sufficient to meet needs for the next twelve months, despite the going concern warning[158](index=158&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=47&type=section&id=Item%203%20%E2%80%93%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not required for smaller reporting companies, and therefore no information is provided - The company is a smaller reporting company and is not required to provide this disclosure[249](index=249&type=chunk)[417](index=417&type=chunk) [Controls and Procedures](index=47&type=section&id=Item%204%20%E2%80%93%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal controls over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[159](index=159&type=chunk) - No material changes to internal controls over financial reporting occurred during the three-month period ended September 30, 2023[223](index=223&type=chunk) Part II – Other Information [Legal Proceedings](index=48&type=section&id=Item%201%20%E2%80%93%20Legal%20Proceedings) The company is not currently a party to any legal proceedings expected to have a material adverse effect on its business - The company reports that it is not currently involved in any legal proceedings that management believes would likely have a material adverse effect on the business[224](index=224&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=48&type=section&id=Item%202%20%E2%80%93%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities during the period - None reported[403](index=403&type=chunk) [Defaults Upon Senior Securities](index=48&type=section&id=Item%203%20%E2%80%93%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities - None reported[132](index=132&type=chunk) [Mine Safety Disclosures](index=48&type=section&id=Item%204%20%E2%80%93%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[346](index=346&type=chunk) [Other Information](index=48&type=section&id=Item%205%20%E2%80%93%20Other%20Information) The company reports no other information for this item - None reported[226](index=226&type=chunk) [Exhibits](index=48&type=section&id=Item%206%20%E2%80%93%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including Series B Preferred Stock documents and Sarbanes-Oxley certifications - Exhibits filed with the report include documents related to the Series B Preferred Stock financing and required certifications[184](index=184&type=chunk)

Biotricity (NASDAQ:BTCY) Q1 2024 Earnings Conference Call August 15, 2023 4:30 PM ET Company Participants Debra Chen – Investor Relations Waqaas Al-Siddiq – Founder and Chief Executive Officer John Ayanoglou – Chief Financial Officer Conference Call Participants Kevin Dede – H.C. Wainwright Operator Good afternoon, and welcome to Biotricity’s First Quarter Fiscal 2024 Financial Results and Business Update Conference Call. Today’s conference is being recorded. At this time, I would like to turn the conferenc ...

Form 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period from ______________ to_______________ Commission file number: 000-40761 BIOTRICITY INC. (Exact name of registrant as specified in its charter) Nevada 30-0983531 State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 203 Redwood Shores Parkway, Suite 600 Redwood City, C ...

31 Anti-takeover provisions in the Company's charter and bylaws may prevent or frustrate attempts by stockholders to change the board of directors or current management and could make a third-party acquisition of the Company dif icult. The SEC has adopted regulations, which generally define "penny stock" to be an equity security that has a market price of less than $5.00 per share, subject to specific exemptions. The market price of our common stock is less than $5.00 per share and therefore would be a "pen ...

Preferred Stock Dividends The Series A Preferred Stock is convertible into shares of common stock commencing 24 months after the issuance date of the Series A Preferred Stock. Upon which, on a monthly basis, up to 5% of the aggregate amount of the Purchase Price can be converted (subject to adjustment for changes in the Holder's ownership of the underlying Series A Preferred Stock). The conversion price is equal to the greater of $.001 or a 15% discount to the volume-weighted average price ("VWAP") of the C ...

Biotricity, Inc. (NASDAQ:BTCY) Q2 2023 Earnings Conference Call November 14, 2022 4:30 PM ET Company Participants Valter Pinto - Managing Director, KCSA Strategic Communications Waqaas Al-Siddiq - Chairman, Chief Executive Officer & Founder John Ayanoglou - Chief Financial Officer Conference Call Participants Frank Takkinen - Lake Street Capital Markets Michael Donovan - H.C. Wainwright Operator Good day, and welcome to the Biotricity's Fiscal Second Quarter 2023 Financial Results Conference Call. Today's c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share BTCY The NASDAQ Stock Market LLC 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, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period from ______________ ...

Biotricity, Inc. (OTC:BTCY) Q1 2023 Earnings Conference Call August 15, 2022 4:30 PM ET Company Participants Valter Pinto - Managing Director, KCSA Strategic Communications Waqaas Siddiq - Chairman, Chief Executive Officer and Founder John Ayanoglou - Chief Financial Officer Conference Call Participants Frank Takkinen - Lake Street Capital markets Kevin Dede - HC Wainwright Operator Good day and welcome to the Biotricity's Fiscal First Quarter 2023 Financial Results Conference Call. Today's conference is b ...