Financial Performance - Revenue for the three months ended June 30, 2024, was $4.6 million, a significant increase from $37,000 in the same period in 2023, driven by new contracts with subcontractors [94]. - Cost of revenue for the three months ended June 30, 2024, was $4.0 million, up from $23,000 in 2023, primarily due to increases in subcontractor labor and equipment costs [95]. - Net loss for the three months ended June 30, 2024, was $5.0 million, a decrease from a net loss of $14.5 million in the same period in 2023 [93]. - The company experienced a total revenue increase of $5.2 million for the six months ended June 30, 2024, compared to the same period in 2023, attributed to new contracts [94]. - For the six months ended June 30, 2024, the company reported a net loss of $9.6 million, with an accumulated deficit of approximately $126.6 million [110]. - Total other income (expense) for the three months ended June 30, 2024, was $(121,000), a notable improvement from $(9.6 million) in 2023, reflecting better financial management [93]. Expenses - Research and development expenses rose to $1.1 million for the three months ended June 30, 2024, compared to $0.5 million in 2023, mainly due to higher salaries and benefits [98]. - General and administrative expenses decreased to $4.2 million for the three months ended June 30, 2024, from $4.3 million in 2023, attributed to lower professional fees and insurance expenses [99]. - Interest expense significantly decreased to $0.1 million for the three months ended June 30, 2024, from $2.5 million in 2023, due to reduced amortization of deferred assets [100]. - Net cash used in operating activities for the six months ended June 30, 2024 was $8.9 million, compared to $8.4 million for the same period in 2023 [110]. - Net cash used in investing activities for the six months ended June 30, 2024 was approximately $0.1 million, a decrease from $1.4 million in the same period in 2023 [111]. Cash Flow and Financing - The company had cash at the end of the period of $3.99 million, a significant increase from $36,000 at the end of June 30, 2023 [110]. - Net cash provided by financing activities for the six months ended June 30, 2024 was $11.8 million, an increase from $8.9 million in the same period in 2023 [113]. - The company raised approximately $10.7 million from the sale of 1,739,958 shares of common stock at a weighted average price of $6.93 per share [108]. Internal Controls and Compliance - The company noted material weaknesses in internal controls over financial reporting, including lack of documentation and inadequate design of IT controls [126]. - The company has assessed its internal control over financial reporting as of June 30, 2024, and concluded that the controls were not effective due to material weaknesses identified [126]. - Material weaknesses include lack of documentation of processes, inadequate design of IT controls, lack of segregation of duties, and ineffective risk assessment controls [126]. - The company maintains that unethical or inaccurate conduct damages stakeholder interests and is committed to improving internal controls [127]. - There were no changes in internal control over financial reporting during the quarter ended June 30, 2024, that materially affected the controls [128]. Going Concern and Legal Matters - There is substantial doubt about the company's ability to continue as a going concern for twelve months from the issuance of the financial statements due to uncertainty in raising capital [109]. - The company is involved in various legal claims but does not expect these to materially affect its financial position or operations [130].

LOS ANGELES, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company a leading smart glass technology company and an expert in constructing fiber optic networks, today announced that it will hold its second quarter 2024 conference call on August 14, 2024 The Company will host a conference call and audio webcast at 12:00 PM Eastern time featuring remarks by Crown's management team. Conference Call Information To participate in this event, please log-on or dial-in ...

LOS ANGELES, July 26, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company"), a leading smart glass technology company and an expert in constructing fiber optic networks, today announced that it has received a notification letter (the "Compliance Notice") from the Listing Qualifications Department of the Nasdaq Stock Market Inc. ("Nasdaq") dated July 25, 2024, informing the Company that it has regained compliance with the Nasdaq Listing Rule 5550(a)(2). Safe Harbor Sta ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Commission file number: 333-232426 Crown Electrokinetics Corp. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) OR o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ...

Crown ElectroKinetics Corp. (NASDAQ:CRKN) Q1 2024 Earnings Conference Call May 15, 2024 12:00 PM ET Company Participants Jason Assad - Director of Corporate Communications Doug Croxall - Chief Executive Officer and Chairman Joel Krutz - Chief Financial Officer and Chief Operating Officer Conference Call Participants Operator Good afternoon, everyone, and welcome to the Crown ElectroKinetics First Quarter 2024 Conference Call. At this time, participants are in a listen-only mode. A question and answer sessio ...

Group 1 - Crown ElectroKinetics (NASDAQ:CRKN) stock is experiencing a rise despite no significant news, attributed to a late filing of its earnings report with the SEC [1][2] - The trading volume for CRKN has exceeded 685,000 shares, while the average daily trading volume is approximately 18.9 million shares [2] - The company's float is currently at 51.31 million shares, with a short interest of 3.44%, indicating relatively low short selling activity [3] Group 2 - As of Thursday morning, CRKN stock has increased by 192.2%, although it remains down 6.8% year-to-date [4] - The stock is categorized as a penny stock, with a prior closing price of 5 cents and a market capitalization of $6.613 million, making it susceptible to pump and dump schemes [3]

Loading...Loading...The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies.The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.Here’s the latest list of major ...

7 | --- | --- | --- | --- | --- | |----------------------------|-----------------|------------------------------------|-------------------|--------------------------------------------------------------------------------------------| | Patent No. \n8,183,757 | Country \nUSA | Patent Date \nMay 22, 2012 | Status \nIssued | Title \nDISPLAY ELEMENT | | 8,184,357 | USA | May 22, 2012 | Issued | DISPLAY ELEMENT | | 8,331,014 | USA | December 11, 2012 | Issued | PIGMENT-BASED INKS | | 8,384,659 | USA | February 26 ...

Crown ElectroKinetics Corp. (NASDAQ:CRKN) Q4 2023 Earnings Conference Call April 1, 2024 11:00 AM ET Company Participants Jason Assad - Director of Corporate Communications Doug Croxall - Chief Executive Officer and Chairman Joel Krutz - Chief Financial Officer and Chief Operating Officer Conference Call Participants Operator Good morning, everyone, and welcome to the Crown ElectroKinetics Corporation Fourth Quarter and Year End 2023 Conference Call. At this time, participants are in a listen-only mode. Thi ...

Financial Data and Key Metrics Changes - Operating expenses for Q3 2023 were $3.4 million, with R&D expenses decreasing by $0.5 million compared to Q3 2022, primarily due to a reduction in salaries and benefits [5] - SG&A expenses increased by $0.7 million to $2.9 million, mainly due to a rise in professional fees related to significant transactional levels [5] - The pre-tax loss for Q3 2023 was $2.9 million, which is $0.3 million lower than the same quarter in 2022 [43] - Net cash used in operations was $2.8 million, $0.7 million higher than the same quarter in 2022, driven by increased professional fees [6] - Other income was $0.6 million, compared to zero in the prior year's quarter, consisting of a $3 million change in the fair value of warrants and derivative liabilities [24] - Shareholder equity increased by $4.7 million in Q3 to $9.3 million, comfortably above the $2.5 million NASDAQ compliance threshold [25] Business Line Data and Key Metrics Changes - The company has established a yard, office, and shop facilities in Arizona to enhance operational efficiency [20] - Three directional drills are ready for production, with a total output of approximately 2,200 feet per day, and two micro-trenchers capable of producing 4,400 feet per day [39] Market Data and Key Metrics Changes - The company is focusing on the Arizona market for fiber optic networks, with significant work expected from customers like Google Fiber and Verizon [32][33] - The telecommunications infrastructure market is anticipated to grow over the next five to eight years, prompting the company to coordinate equipment procurement and staffing [21] Company Strategy and Development Direction - The company plans to add two to three Master Service Agreements (MSAs) before the end of the calendar year, indicating a strategy to expand its customer base [12] - Future projects include micro-trenching and directional drilling, with expectations of long-term contracts lasting five to seven years [18][36] - The company aims to build a strong culture and team environment, focusing on employee retention and development [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the employment market in Arizona, indicating a strong ability to recruit necessary talent for upcoming projects [4] - The company is preparing for Q4 projects and expects significant operational progress as it builds out its organization and equipment [43] - Management is optimistic about future growth opportunities and plans to explore projects outside Arizona as they arise [32] Other Important Information - The company received a minimum price notification from NASDAQ, with 180 days to regain compliance by trading above a dollar for ten consecutive days [50] - The company has established direct relationships with equipment manufacturers to ensure a steady supply as contracts increase [21] Q&A Session Summary Question: What is the current status of the company's projects? - The company has broken ground on its first project and has established five crews to manage operations effectively [48] Question: How is the company addressing NASDAQ compliance? - The company is confident in its strategic progress and is preparing alternate options to retain its NASDAQ listing if necessary [50]