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].

Company Overview - Crown Electrokinetics Corp. is a leading smart glass technology company and an expert in constructing fiber optic networks [1] - The company operates through two divisions: Fiber Optics and Electrokinetics Film, with the latter focusing on smart glass technology and the creation of Smart Window Inserts [3] Conference Call Announcement - The company will hold its second quarter 2024 conference call on August 14, 2024, at 12:00 PM Eastern time [1] - Management will provide remarks during the conference call, which will be accessible via dial-in or audio webcast [1][2] Participation Details - Participants can join the call by logging on or dialing in 5 to 10 minutes before the start time [2] - The conference call can be accessed through the following numbers: 1-877-451-6152 or 1-201-389-0879, with Conference ID: 13747919 [2] Replay Information - A replay of the conference call will be available at 1-844-512-2921 or 1-412-317-6671, using Access ID: 13747919 [3]

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 ...

As filed with the U.S. Securities and Exchange Commission on June 4, 2024 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _____________________ Crown Electrokinetics Corp. (Exact name of registrant as specified in its charter) _____________________ Delaware 238150 47-5423944 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R. ...

Revenue and Expenses - Revenue for the three months ended March 31, 2024, was $0.7 million, a 3000% increase from $22,000 in the same period in 2023, attributed to new contracts with subcontractors [220]. - Cost of revenue for the same period was $1.6 million, up 5177% from $31,000 in 2023, driven by increases in compensation, insurance, subcontractor labor, and equipment costs [221]. - Research and development expenses rose to $0.8 million in Q1 2024, a 40% increase from $0.5 million in Q1 2023, primarily due to higher salaries and stock compensation [224]. - General and administrative expenses decreased by 47% to $1.8 million in Q1 2024 from $3.4 million in Q1 2023, mainly due to reductions in compensation and professional fees [225]. - Interest expense decreased to $0.9 million in Q1 2024 from $2.0 million in Q1 2023, a reduction of 57% related to lower amortization of deferred assets [226]. Net Loss and Financial Position - The net loss for the three months ended March 31, 2024, was $4.6 million, compared to a net loss of $2.3 million in the same period in 2023, reflecting a 101% increase in losses [219]. - The company reported an accumulated deficit of approximately $121.6 million as of March 31, 2024, raising concerns about its ability to continue as a going concern [239]. - The net loss for the three months ended March 31, 2024, was $4.6 million, which is an increase from a net loss of $2.3 million in the same period of 2023 [240][241]. Cash Flow and Liquidity - Cash and cash equivalents at the end of Q1 2024 were $290,000, down from $2.1 million at the end of Q1 2023, indicating liquidity challenges [231]. - For the three months ended March 31, 2024, net cash used in operating activities was $2.7 million, compared to $4.7 million for the same period in 2023, indicating a reduction of approximately 42.55% [240][241]. - Net cash used in investing activities for the three months ended March 31, 2024, was approximately $0.1 million, a significant decrease from $1.1 million in the same period of 2023 [243]. - Net cash provided by financing activities for the three months ended March 31, 2024, was $2.0 million, a decrease from $7.1 million in the same period of 2023 [244][245]. Financing Activities - The company raised approximately $0.6 million from an At-the-Market offering, net of commissions, during the three months ended March 31, 2024 [232][233]. - The company issued 21,133,689 shares of common stock under its Equity Line of Credit, generating gross proceeds of $1.6 million, with net proceeds of approximately $1.4 million [234]. Deferred Revenue and Accounting Practices - The increase in deferred revenue for the three months ended March 31, 2024, was $1.3 million, contributing to the net change in operating assets and liabilities of $0.3 million [240]. - The company did not have any off-balance sheet arrangements during the periods presented, ensuring transparency in financial reporting [246]. - The company’s financial statements are prepared in accordance with GAAP, requiring estimates and assumptions that could materially impact reported amounts [247]. - The company is electing to delay the adoption of certain new or revised accounting standards as an emerging growth company, which may affect comparability with other public companies [250].

Financial Data and Key Metrics Changes - For Q1 2024, the company reported a net loss of $4.6 million, an improvement from a net loss of $4.1 million in Q1 2023 [14][30] - Total operating expenses for the quarter were $4.7 million, with cost of revenue at $1.6 million, primarily driven by operations in Arizona [34] - Cash and cash equivalents as of March 31, 2024, were $0.3 million, with a decrease of $0.8 million in net cash during the quarter [15] Business Line Data and Key Metrics Changes - The fiber division generated $0.7 million in revenue for the quarter, with the majority of revenue expected to be back-ended [14] - The company secured a large fiber-to-home project in Idaho, which is expected to generate approximately $5.7 million in gross revenues [27] - The film division is preparing to launch the Gen 1 Alpha smart window insert, with initial shipments expected in August-September [7][22] Market Data and Key Metrics Changes - The fiber division is expanding into multiple markets, including Idaho, Nevada, California, and Mexico, indicating a growing presence in the fiber optic construction market [25][26] - The company is also involved in a project in Los Cabos, Mexico, for constructing slant wells for a desalinization plant [11] Company Strategy and Development Direction - The company aims to achieve net income positivity by the end of the year, focusing on non-dilutive growth in the fiber division [18] - The strategy includes leveraging subcontractors to control costs and lock in margins, rather than hiring hundreds of employees [9] - The rollout of Gen 1 Alpha, Gen 1 Beta, and Gen 1 Charlie smart window inserts is part of the company's strategy to gather customer feedback and improve product offerings [8][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's position and growth potential, highlighting the importance of customer feedback in product development [18][24] - The company is awaiting guidance from NASDAQ regarding its bid price non-compliance and is working closely with auditors to avoid filing delays [13][16] Other Important Information - The company has $42 million available on its ELOC and access to a revolving line of credit to support working capital needs [35] - The company is experiencing a backlog in its auditors' quality control process, which may affect timely submissions [16] Q&A Session Summary - The company discussed its growing production levels and improving financials, which should enhance market value while ensuring options to retain NASDAQ listing [33]

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]

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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 ...