Monrovia, CA, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Invizyne Technologies, Inc., a leading designer of cell-free, enzyme-based biomanufacturing systems to produce commercially important molecules and chemicals for everyday life, today announced that its common shares will begin trading on the NASDAQ today, November 13, 2024 at approximately 12:00pm EST under the ticker symbol “IZTC.” About Invizyne Technologies, Inc.Invizyne Technologies, Inc. is a cell-free enzyme-based biomanufacturing technology company head ...

Financial Performance - For the three months ended September 30, 2024, the net operating loss was $8,719,615, compared to a loss of $3,299,055 for the same period in 2023, indicating a significant increase in losses[8]. - The total operating income for the nine months ended September 30, 2024, was $1,013,816, a decrease of approximately 80% from $5,070,958 in the same period of 2023[8]. - The net loss attributable to MDB Capital Holdings, LLC for the nine months ended September 30, 2024, was $19,225,299, compared to $1,419,350 for the same period in 2023, showing a significant increase in net losses[8]. - For the nine months ended September 30, 2024, the net loss was $20,855,682, compared to a net loss of $1,760,981 for the same period in 2023, indicating a significant increase in losses[11]. - The company reported a net loss per Class A common share of $(2.07) for the nine months ended September 30, 2024, compared to $(0.24) for the same period in 2023, reflecting a worsening loss per share[8]. - The net operating loss for Q3 2024 was $(8,719,615), compared to a net operating loss of $(7,735,433) in Q3 2023, reflecting a deterioration in performance[88]. - The company reported a net loss of $8,440,490 for the three months ended September 30, 2024, compared to a net loss of $3,186,314 in the same period of 2023, reflecting a 164.9% increase in losses[157]. Operating Costs - Total operating costs for the nine months ended September 30, 2024, were $22,805,340, compared to $6,996,275 for the same period in 2023, indicating a significant increase in operating expenses[8]. - Total operating costs for Q3 2024 were $8,105,370, with general and administrative costs accounting for $5,170,772, which is a significant portion of total expenses[88]. - Compensation costs for the nine months ended September 30, 2024, reached $15,188,205, highlighting the significant expense in this area[89]. - Total general and administrative costs increased by 43.5% to $1,813,972 for the three-month period ended September 30, 2024, compared to $1,263,844 in the same period of 2023[164]. - Professional fees increased by 74.6% to $190,277 for the three-month period ended September 30, 2024, compared to $108,959 in the same period of 2023[164]. - Related party operating expenses rose by 81.8% to $405,771 for the three-month period ended September 30, 2024, up from $223,254 in the same period of 2023[164]. Research and Development - Research and development costs for the three months ended September 30, 2024, were $723,487, compared to $27,936 for the same period in 2023, reflecting a substantial increase in R&D investment[8]. - Research and development costs for the nine months ended September 30, 2024, amounted to $1,238,463, a substantial increase of 1,745.8% from $67,095 in the prior year[158]. - Grants received for research and development costs amounted to $1,756,852 for the nine months ended September 30, 2024, compared to $2,180,581 for the same period in 2023[78]. Equity and Liabilities - As of September 30, 2024, total liabilities amounted to $6,028,830, an increase from $5,665,177 as of December 31, 2023, representing an increase of approximately 6.4%[5]. - The total equity as of September 30, 2024, was $28,182,007, a decrease from $37,320,102 as of December 31, 2023, representing a decline of approximately 24.4%[6]. - The accumulated deficit rose significantly to $(31,318,226) in 2024, a 159.0% increase from $(12,092,927) in December 2023[177]. Cash Flow and Investments - Cash flows from operating activities resulted in a net cash used of $8,620,720 for the nine months ended September 30, 2024, compared to $5,086,987 for the same period in 2023[11]. - The company reported cash, cash equivalents, and restricted cash of $18,264,162 at the end of the period, down from $26,445,550 a year earlier[11]. - The company reported a net cash provided by investing activities of $20,045,260 for the nine months ended September 30, 2024, compared to $8,746,619 in 2023[182]. - The company had $16,679,428 in cash and $5,084,197 in short-term U.S. Treasury bills available for operations as of September 30, 2024[182]. Initial Public Offering (IPO) - The company completed an initial public offering (IPO) on September 20, 2023, raising gross proceeds of $19,999,992 from the sale of 1,666,666 Class A common shares at $12.00 per share[23]. - The increase in equity was primarily due to the IPO, partially offset by net losses from previous periods[180]. - The company issued 100,000 shares of Class A common shares in exchange for all non-controlling interests in PatentVest, making it a wholly owned subsidiary[152]. Segment Information - The company operates in two reportable segments: broker dealer and intellectual property service, and technology development, with distinct financial reporting for each[83]. - The Technology Development Segment reported a significant increase in revenue, with a total of $1,064,231 for 2024, up 192.4% from $363,907 in 2023[171]. Miscellaneous - The company has established a management subsidiary, MDB Management, to consolidate shared services for its U.S.-based operations[15]. - The company is classified as an "emerging growth company," allowing it to take advantage of certain exemptions from various reporting requirements[29]. - The company recognized no income tax expense for the nine months ended September 30, 2024, due to a full valuation allowance against net deferred tax assets[142].

Monrovia, CA, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Invizyne Technologies, Inc., a leading designer of cell-free, enzyme-based biomanufacturing systems to produce commercially important molecules and chemicals for everyday life, today announced the pricing of its initial public offering of 1,875,000 shares of its common stock at a public offering price of $8.00 per share for a total of $15,000,000 of gross proceeds to the Company, before deducting underwriting discounts and offering expenses (the “Offering”). I ...

Transformative Innovations in MASH Diagnostics According to PatentVest, there are several emerging areas for new patenting opportunities in the Biomarkers MASH and Artificial Intelligence Mark-up Language (AIML) spaces, with space for innovation and intellectual property protection. The great potential to create patent protection in the development of innovative diagnostic tools lies in: The "PatentVest Pulse" whitepaper is now available for download on the PatentVest website PatentVest Pulse in this link P ...

"We're thrilled to collaborate with Mayo Clinic to harness clinical and scientific expertise to develop therapeutics that could meaningfully improve patient lives across various conditions," said Christopher Marlett, CEO and Co-Founder of MDB. Founded in 1997, MDB Capital focuses on launching "Big Ideas" into valuable public companies with a better approach to public venture capital. This approach involves community-driven financings of pre-revenue, earlystage deep technology companies through early public ...

With the addition of Torpey, the MDB Capital Board now comprises eight members. Torpey brings over 24 years of experience at Ernst & Young LLP (EY), where he currently serves as an Assurance Partner in the Forensic & Integrity Services practice. His expertise spans accounting, auditing, compliance, financial reporting, fraud detection, and corporate investigations. Torpey, who will retire from EY in June 2024, expressed his enthusiasm for joining MDB Capital's entrepreneurial ecosystem, "It is a privilege t ...

Dallas, TX, May 22, 2024 (GLOBE NEWSWIRE) -- Today, PatentVest, a leading provider of IP Strategy and IP Law services, announces the release of its latest report, "Pulse of Innovation: Shaping the Future of Cardiac Health Through Technology." This comprehensive study offers a deep dive into the rapidly evolving world of portable ECG monitoring, uncovering transformative trends in IP filings that forecast the future of the cardiac care industry. The report highlights the seismic shift underway in cardiac mon ...

Dallas, TX, May 22, 2024 (GLOBE NEWSWIRE) -- Today, PatentVest, a leading provider of IP Strategy and IP Law services, announces the release of its latest report, "Pulse of Innovation: Shaping the Future of Cardiac Health Through Technology." This comprehensive study offers a deep dive into the rapidly evolving world of portable ECG monitoring, uncovering transformative trends in IP filings that forecast the future of the cardiac care industry. The report highlights the seismic shift underway in cardiac mon ...

Addison, TX, May 22, 2024 (GLOBE NEWSWIRE) -- MDB Capital Holdings, LLC, (NASDAQ: MDBH) ("MDB"), a public venture platform focused on launching category-leading deep technology companies, today announces its self-clearing broker dealer and associated online and mobile trading platforms will now unify under one brand name, MDB Capital. "In response to feedback from our community, we decided to create continuity across our services to eliminate confusion. We believe the change makes it easier for prospective ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41751 MDB CAPITAL HOLDINGS, LLC (Exact name of registrant as specified in its charter) Delaware 87-4366624 (State or other jurisdiction of incorporation or organization) 14 ...