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Mawson Infrastructure (MIGI) - 2021 Q3 - Quarterly Report
2021-11-15 14:12
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 September 30, 2021 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 001-40849 Mawson Infrastructure Group Inc. (Exact name of registrant as specified in its chart ...
Mawson Infrastructure (MIGI) - 2021 Q2 - Quarterly Report
2021-08-10 20:59
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended June 30, 2021 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 000-52545 Mawson Infrastructure Group Inc. (Exact name of registrant as specified in its charter) | Delaware | 88-0445167 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation o ...
Mawson Infrastructure (MIGI) - 2021 Q1 - Quarterly Report
2021-05-19 13:28
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, 2021 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 000-52545 Mawson Infrastructure Group Inc. (Exact name of registrant as specified in its charter) ...
Mawson Infrastructure (MIGI) - 2020 Q4 - Annual Report
2021-03-01 21:42
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File No. 000-52545 Wize Pharma, Inc. | (Exact name of registrant as specified in its charter) | | | --- | --- | | Delaware | 88-044516 ...
Mawson Infrastructure (MIGI) - 2020 Q3 - Quarterly Report
2020-11-16 21:00
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 September 30, 2020 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: 000-52545 WIZE PHARMA, INC. (Exact name of registrant as specified in its charter) | Delaware | 88-0445167 ...
Mawson Infrastructure (MIGI) - 2020 Q2 - Quarterly Report
2020-08-14 20:28
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 June 30, 2020 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: 000-52545 WIZE PHARMA, INC. (Exact name of registrant as specified in its charter) | Delaware | 88-0445167 | | ...
Mawson Infrastructure (MIGI) - 2020 Q1 - Quarterly Report
2020-05-15 20:03
[PART I-FINANCIAL INFORMATION](index=3&type=section&id=PART%20I-FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited interim statements show a significant net loss and shareholders' deficit due to a complex financing transaction [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Total assets and liabilities surged, shifting shareholders' equity to a deficit due to new securities and obligations Consolidated Balance Sheet Summary (in thousands) | Balance Sheet Item | March 31, 2020 (Unaudited) | December 31, 2019 | | :--- | :--- | :--- | | **Total Current Assets** | $10,625 | $1,147 | | **Total Assets** | $10,648 | $1,176 | | **Total Current Liabilities** | $9,268 | $641 | | **Total Liabilities** | $14,327 | $641 | | **Total Shareholders' Equity (Deficit)** | $(3,679) | $535 | - Key new asset and liability items in Q1 2020 include a **$3.7 million restricted deposit**, **$6.37 million in marketable equity securities**, an **$8.8 million liability for mandatorily redeemable Series B Preferred Stock**, and a **$5.06 million contingent obligation** related to future revenues[14](index=14&type=chunk)[15](index=15&type=chunk) [Consolidated Statements of Comprehensive Income (Loss)](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) The company reported a significant net loss of $4.3 million for the quarter, driven primarily by substantial financial losses Comprehensive Income (Loss) Summary (in thousands, except per share data) | Metric | Three months ended March 31, 2020 | Three months ended March 31, 2019 | | :--- | :--- | :--- | | Operating Loss | $(601) | $(591) | | Financial Income (Loss), net | $(3,699) | $739 | | **Net Income (Loss)** | **$(4,300)** | **$148** | | Basic and Diluted Net Loss Per Share | $(0.27) | $0.00 | [Consolidated Statements of Changes in Shareholders' Equity (Deficit)](index=7&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity%20(Deficit)) Shareholders' equity shifted to a $3.68 million deficit, primarily as a result of the $4.3 million net loss for the period Changes in Shareholders' Equity (Deficit) for Q1 2020 (in thousands) | Description | Amount | | :--- | :--- | | Balance as of December 31, 2019 | $535 | | Stock-based compensation | $86 | | Net loss for the interim period | $(4,300) | | **Balance as of March 31, 2020** | **$(3,679)** | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations improved, while the period's cash balance decreased by $347 thousand Cash Flow Summary (in thousands) | Cash Flow Activity | Three months ended March 31, 2020 | Three months ended March 31, 2019 | | :--- | :--- | :--- | | Net cash used in operating activities | $(302) | $(580) | | Net cash provided by investing activities | $5 | $0 | | Net cash used in financing activities | $(50) | $(150) | | **Decrease in cash, cash equivalents and restricted cash** | **$(347)** | **$(730)** | - Significant non-cash activities during the quarter included the **investment in marketable securities ($8.76 million)**, recognition of a **contingent obligation ($5.06 million)**, and issuance of **mandatorily redeemable Series B Preferred Stock ($7.4 million)**[23](index=23&type=chunk) [Notes to Unaudited Interim Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Interim%20Consolidated%20Financial%20Statements) Notes disclose substantial doubt about going concern status and detail a complex transaction involving future revenue rights - The company's operations are focused on treating ophthalmic disorders like Dry Eye Syndrome (DES) through an exclusive license for the LO2A technology[26](index=26&type=chunk)[27](index=27&type=chunk) - Management has determined that conditions such as an **accumulated deficit of $38.2 million** and recurring operating losses raise **substantial doubt** about the company's ability to continue as a going concern[28](index=28&type=chunk)[29](index=29&type=chunk) - In February 2020, the company completed a complex transaction involving the sale of **37% of future LO2A revenues** to Bonus BioGroup in exchange for Bonus shares, and simultaneously financed a cash investment in Bonus by issuing **$7.5 million of mandatorily redeemable Series B Preferred Stock**[53](index=53&type=chunk)[54](index=54&type=chunk)[65](index=65&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a significant net loss driven by financing expenses and a critical liquidity situation [Overview](index=22&type=section&id=Overview) The company focuses on developing its LO2A drug and recently executed a major strategic transaction with Bonus BioGroup - The company's business is centered on the clinical development of LO2A for various ophthalmic disorders, with a belief that the greatest potential lies in treating CCH and Sjögren's[82](index=82&type=chunk)[84](index=84&type=chunk) - A **Phase IV multi-center trial** evaluating LO2A for DES in patients with Sjögren's was completed in May 2020, with topline results anticipated in the second or third quarter of 2020[88](index=88&type=chunk) - On February 19, 2020, the company closed a transaction with Bonus BioGroup, exchanging **37% of future LO2A proceeds** for Bonus shares, and financed a related **$7.4 million cash investment** in Bonus by selling **$7.5 million of Series B Preferred Stock**[89](index=89&type=chunk)[90](index=90&type=chunk)[95](index=95&type=chunk) [Results of Operations](index=25&type=section&id=Results%20of%20Operations) The company's net loss widened to $4.3 million from a prior year income, driven by a $3.7 million financial loss Results of Operations Comparison (in thousands) | Expense/Income Line | Q1 2020 | Q1 2019 | | :--- | :--- | :--- | | Research and development | $(176) | $(63) | | General and administrative | $(425) | $(528) | | **Total operating costs** | **$(601)** | **$(591)** | | Financial income (loss), net | $(3,699) | $739 | | **Net income (loss)** | **$(4,300)** | **$148** | - The increase in R&D expenses was mainly due to costs from patient recruitment in the company's clinical study[99](index=99&type=chunk) - The significant change in financial income (loss) was primarily related to the loss from recognition and subsequent revaluation of the **mandatorily redeemable Series B Preferred Stock** issued in Q1 2020[101](index=101&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=Liquidity%20and%20Capital%20Resources) Current cash resources are insufficient for the next 12 months, raising substantial doubt about its going concern status Cash and Working Capital (in thousands) | Metric | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $372 | $718 | | Working capital | $1,357 | $506 | - Net cash used in operating activities for Q1 2020 was **$302,000**, a decrease from $580,000 in Q1 2019[106](index=106&type=chunk)[107](index=107&type=chunk) - Management has determined that current liquidity is **insufficient for the next 12 months**, which raises **substantial doubt** about the company's ability to continue as a going concern[109](index=109&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company, as a smaller reporting company, has elected not to provide market risk disclosures - Wize Pharma has opted out of providing market risk disclosures, as permitted for a smaller reporting company[117](index=117&type=chunk) [Item 4. Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes to internal controls - Management concluded that the company's disclosure controls and procedures were **effective** as of March 31, 2020[118](index=118&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[119](index=119&type=chunk) [PART II-OTHER INFORMATION](index=30&type=section&id=PART%20II-OTHER%20INFORMATION) [Item 1A. Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor related to the COVID-19 pandemic has been added, citing potential adverse effects on operations - The company has identified the **COVID-19 pandemic** as a new material risk factor that could adversely affect its business and operations[123](index=123&type=chunk) - Potential impacts from the pandemic include disruptions to raw material supply, **delays in clinical trial enrollment** and conduct, and potential delays in reviews and approvals from the FDA and other health authorities[125](index=125&type=chunk)[126](index=126&type=chunk) [Item 5. Other Information](index=31&type=section&id=Item%205.%20Other%20Information) The company amended its License Agreement with Resdevco to include a conditional right to terminate the agreement - On May 4, 2020, the company amended its License Agreement with Resdevco, granting Wize Israel and OcuWize a **conditional right to terminate** the agreement[129](index=129&type=chunk) [Item 6. Exhibits](index=31&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including officer certifications and XBRL data files for the financial statements - The report includes certifications from the CEO and CFO, as well as XBRL instance documents for the financial statements[130](index=130&type=chunk)[131](index=131&type=chunk)
Mawson Infrastructure (MIGI) - 2019 Q4 - Annual Report
2020-03-30 21:31
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File No. 000-52545 | Wize Pharma, Inc. | | --- | | (Exact name of registrant as specified in its charter) | | | --- | --- | | Delaware ...
Mawson Infrastructure (MIGI) - 2019 Q3 - Quarterly Report
2019-11-14 21:53
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Commission File Number: 000-52545 WIZE PHARMA, INC. (Exact name of registrant as specified in its charter) 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 September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to__________ | Delaware | 88-0445167 ...
Mawson Infrastructure (MIGI) - 2019 Q2 - Quarterly Report
2019-08-13 22:42
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 June 30, 2019 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: 000-52545 WIZE PHARMA, INC. (Exact name of registrant as specified in its charter) | Delaware | 88-0445167 | | ...