Connexa(CNXA)

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Connexa(CNXA) - 2024 Q2 - Quarterly Report
2023-11-26 16:00
Financial Performance - Net sales decreased by $147,903, or 6%, for the three months ended October 31, 2023, compared to the same period in 2022, attributed to depleted inventory due to higher than planned sales orders [290]. - The company recorded a net loss from continuing operations of $915,354 for the three months ended October 31, 2023, compared to a loss of $15,289,998 in the same period in 2022 [294]. - The company had an accumulated deficit of $150,835,256 as of October 31, 2023, raising substantial doubt about its ability to continue as a going concern [298]. - The independent auditors expressed substantial doubt about the company's ability to continue as a going concern as of April 30, 2023 [309]. Expenses - General and administrative expenses decreased by $2,820,535, or 64%, during the three months ended October 31, 2023, primarily due to a reduction in share-based compensation and headcount [292]. - Total operating expenses decreased by $4,221,052, or 48%, during the six months ended October 31, 2023, compared to the same period in 2022 [294]. - Selling and marketing expenses decreased by $556,562, or 50%, during the six months ended October 31, 2023, largely due to reduced social media advertising and sponsorships [296]. Cash Flow and Financing - Cash and cash equivalents increased to $285,861 as of October 31, 2023, compared to $202,095 as of April 30, 2023 [299]. - The company entered into a loan and security modification agreement for an additional loan of $1,000,000 on October 11, 2023 [304]. - The company sold $797,500 in future receivables to UFS for $550,000 in cash on August 7, 2023 [283]. Risk and Controls - The company has identified material weaknesses in financial reporting controls and is in the process of implementing compensating controls [337]. - The material weaknesses will remain listed until the applicable controls operate effectively for a sufficient period [337]. - The company has adopted disclosure controls and procedures to ensure timely and accurate reporting [336]. - The company does not anticipate that inflation and price changes will materially affect operations [308].
Connexa(CNXA) - 2024 Q1 - Quarterly Report
2023-10-04 16:00
Financial Losses and Impairments - The total loss on disposal of Foundation Sports and PlaySight amounted to $41,413,892 for the year ended April 30, 2023[209]. - The Company recorded an impairment loss of $11,421,817 related to goodwill and intangible assets associated with Gameface as of April 30, 2023[210]. - The total loss from discontinued operations was $0 for the three months ended July 31, 2023, compared to a loss of $1,759,714 in the same period in 2022[231]. Receivables and Financing - The Company sold $797,500 in future receivables to UFS for $550,000 in cash, agreeing to pay UFS $30,000 weekly until the amount is settled[215]. - The Company sold $315,689 in future receivables to Meged for $210,600 in cash, with weekly payments of $17,538 until the amount is paid in full[213]. - The Company issued a promissory note for $2 million as part of the sale of PlaySight, with a maturity date of December 31, 2023[206]. Stock and Shareholder Actions - The Company increased the number of authorized shares of common stock from 75,000,000 to 300,000,000 via a four-to-one forward split[201]. - The Company completed a 1-40 reverse stock split of its common stock on September 25, 2023[211]. - The company issued 6,809 shares of common stock to the lender in connection with the conversion on June 20, 2023[233]. - The company issued 42,500 shares of common stock to the lender in connection with the conversion on August 31, 2023[235]. Operating Expenses and Cash Flow - The total rent expense for the three months ended July 31, 2023, was $1,969 compared to $700 for the same period in 2022[225]. - Total other expenses increased by $445,050 for the three months ended July 31, 2023, compared to the same period in 2022, with other expenses totaling $1,136,655[230]. - Net cash provided by operating activities was $803,363 for the three months ended July 31, 2023, compared to a net cash used of $3,122,519 in the same period in 2022[238]. - The company had net cash used in financing activities of $601,002 for the three months ended July 31, 2023, compared to a net cash used of $3,406,129 in the same period in 2022[238]. Future Financing and Going Concern - The company plans to finance operating costs over the next twelve months with existing cash, loans from related parties, and/or private placements of debt and/or common stock[237]. - The company had an accumulated deficit of $152,597,375 as of July 31, 2023, indicating substantial doubt about its ability to continue as a going concern[232]. Market and Compliance Issues - The company is subject to potential delisting from Nasdaq due to its common stock bid price closing below the minimum requirement of $1.00 per share for 30 consecutive business days[228]. Derivatives and Fair Value - The company recorded a gain in fair value of derivatives of $2,144,554 for the three months ended July 31, 2023, compared to $3,687,495 in the same period in 2022[230]. Earn-out Consideration - The Company agreed to earn-out consideration of common shares with a fair value of $1,334,000 in connection with the Gameface acquisition[227]. Warrants - The Company has not granted any warrants for the three months ended July 31, 2023[219].
Connexa(CNXA) - 2023 Q4 - Annual Report
2023-09-13 16:00
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐ The number of shares outstanding of the registrant's Common Stock, $0.001 par value per share, as of September 14, 2023, was 24,148,532. Important factors that may cause the actual results to differ from the forward-looking statements, projections or other expectation ...
Connexa(CNXA) - 2023 Q4 - Annual Report
2023-07-24 21:06
On January 14, 2022, the Company entered into two loan agreements with related party lenders, each for $1,000,000, pursuant to which the Company received a total amount of $2,000,000. The loans bear interest at a rate of 8% per annum and are required to be repaid in full by April 30, 2022 or such other date as may be accepted by the lenders. The Company is not permitted to make any distribution or pay any dividends unless or until the loans are repaid in full. On June 28, 2022, the Company entered into amen ...
Connexa(CNXA) - 2022 Q4 - Annual Report
2023-05-16 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2022 ☐ 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: 01-41423 CONNEXA SPORTS TECHNOLOGIES INC. (Exact name of registrant as specified in its charter) (State or other j ...
Connexa(CNXA) - 2022 Q3 - Quarterly Report
2022-03-16 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 January 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT For the transition period from ________ to ________ Commission File Number: 333-214463 SLINGER BAG INC. (Exact name of registrant as specified in its charter) Nevada 61-1789640 (State or other juris ...
Connexa(CNXA) - 2022 Q2 - Quarterly Report
2021-12-19 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 October 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT For the transition period from ________ to ________ Commission File Number: 333-214463 SLINGER BAG INC. (Exact name of registrant as specified in its charter) Nevada 61-1789640 (State or other juris ...
Connexa(CNXA) - 2022 Q1 - Quarterly Report
2021-09-13 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 July 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT For the transition period from ________ to ________ Commission File Number: 333-214463 SLINGER BAG INC. (Exact name of registrant as specified in its charter) Nevada 61-1789640 (State or other jurisdic ...
Connexa(CNXA) - 2021 Q4 - Annual Report
2021-08-05 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2021 [ ] 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: 333-214463 SLINGER BAG INC. (Exact name of registrant as specified in its charter) Nevada 61-1789640 (State or ...
Slinger Bag (SLBG) Investor Presentation - Slideshow
2021-07-16 22:52
CORPORATE PRESENTATION June 2021 OTCQB: SLBG Slinger. CHANGE THE GAME DISCLAIMER This presentation, any supplemental information or documents provided herewith and any attendant oral commentary (collectively, this "Presentation") (i) have been prepared for discussion purposes by Slinger Bag Inc. ("Slinger"), (ii) are intended solely for use by Slinger in connection with the Company's financial presentation dated as of the date hereof and (iii) should not be used, considered or relied upon for any other purp ...