Lucy Scientific Discovery (NASDAQ:LSDI) stock is rocketing higher on Thursday even without any clear news that would cause such a rally. The only recent news from Lucy Scientific Discovery is that it will be late filing its Form 10-K for the first quarter of 2024. That's not the type of news that would cause investors to flock to the company's shares like they have today. Instead, it seems much more likely that LSDI stock is the target of speculative traders trying to pump the stock higher. That makes sense ...

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 December 31, 2023 or ☐ 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: 001-41616 Lucy Scientific Discovery Inc. (Exact name of registrant as specified in its charter) British Columbia, Canada Not App ...

For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 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 Commission File Number: 001-41616 Lucy Scientific Discovery Inc. (Exact name of registrant as specified in its charter) British Columbia, Canada Not Ap ...

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 June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-41616 Lucy Scientific Discovery Inc. (Exact Name of Registrant as Specified in Its Charter) British Columbia, Canada Not Applicable (State or Other Jurisdiction of Incorpo ...

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 March 31, 2023 or ☐ 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: 001-41616 (Exact name of registrant as specified in its charter) British Columbia, Canada Not Applicable (State or other jurisdicti ...

Financial Performance - The company reported a net loss of $2,305,548 for the six months ended December 31, 2022, with an accumulated deficit of $37,732,890 as of the same date[88]. - The net loss for the three months ended December 31, 2022, was $933,807, compared to a net loss of $1,532,785 for the same period in 2021, representing a 39.1% improvement[108]. - The comprehensive loss for the six months ended December 31, 2022, was $2,005,885, compared to $2,726,821 for the same period in 2021, indicating a 26.4% improvement[118]. - The company expects to incur significant operating losses for at least the next several years, with increased losses anticipated due to enhancements in manufacturing and research facilities[131]. - The company has incurred significant operating losses since inception and expects to continue incurring losses as it enhances product offerings[131]. Capital and Financing - The company completed its IPO on February 13, 2023, issuing 1,875,000 common shares at a price of $4.00 per share, resulting in aggregate net cash proceeds of $5.8 million[91]. - The gross proceeds from the IPO were $7.5 million, with net proceeds of approximately $5.8 million after expenses[118]. - Cash provided by financing activities for the six months ended December 31, 2022 was $310,869, down from $1,780,241 in the same period of 2021[125]. - The Origo Credit Agreement allows for a line of credit of up to $4,869,775, with no amounts outstanding as of December 31, 2022[127]. - Management believes sufficient working capital will be available to meet liquidity needs for the next twelve months[134]. - The company may finance cash needs through public or private equity or debt offerings, but may face challenges in raising additional funds[133]. Operational Developments - The first commercial sale of psilocybin was agreed upon on February 27, 2023, marking a key operational milestone as the company transitions to revenue generation[93]. - The company has not yet manufactured all psychedelics-based products allowable under its Dealer's Licence, which could impact revenue generation[82]. - The company plans to expand its product offerings and seek regulatory authorization for distribution and export of its products[92]. - The company is focused on establishing its contract manufacturing and research services while developing its intellectual property portfolio[86]. - The company has a 25,000 square foot facility near Victoria, British Columbia, dedicated to research, development, and large-scale production of psychotropics-based medicines[85]. Expenses and Cash Flow - Selling, general and administrative expenses decreased to $448,534 for the three months ended December 31, 2022, from $763,523 in the same period of 2021, a reduction of approximately 41.3%[108]. - Interest expense decreased to $485,278 for the three months ended December 31, 2022, from $598,339 in the same period of 2021, a reduction of approximately 19%[109]. - Cash used in operating activities during the six months ended December 31, 2022, was $370,967, a decrease from $1,628,837 in the same period of 2021[122]. - Cash used in investing activities for the six months ended December 31, 2022 was $33,365 related to the purchase of digital assets[124]. - Cash at the end of the year was $26,059, down from $374,006 at the end of December 31, 2021[122]. Lease and Accounting - The company applies ASC 842 to identify leases, distinguishing them from service contracts based on customer control of the asset[152]. - Future lease payments are discounted using the company's incremental borrowing rate, significantly impacting lease liabilities and interest expense[153]. - The lease term is assessed based on lease conditions, with the original lease term determined as the most likely outcome due to uncertainty in extensions or early terminations[154]. - The company has no off-balance sheet arrangements as defined by SEC regulations[136]. - The company is classified as a "smaller reporting company" and is not required to provide certain market risk disclosures[156].