PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company presents its unaudited condensed financial statements for the quarter and six months ended June 30, 2020 [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets) The company's balance sheet reflects a notable increase in total assets primarily driven by a rise in cash reserves Condensed Balance Sheet Highlights (in thousands) | Metric | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Cash | $4,718 | $1,936 | | Total current assets | $6,200 | $3,542 | | Total assets | $7,337 | $4,979 | | Total current liabilities | $1,153 | $1,581 | | Total liabilities | $2,444 | $2,412 | | Total stockholders' equity | $4,893 | $2,567 | - Total assets increased by **$2,358 thousand (47.3%)** from December 31, 2019, to June 30, 2020, primarily driven by an increase in cash[9](index=9&type=chunk) - Total current liabilities decreased by **$428 thousand (27.1%)** from December 31, 2019, to June 30, 2020, mainly due to a decrease in accrued expenses[9](index=9&type=chunk) [Condensed Statements of Operations and Comprehensive Loss](index=5&type=section&id=Condensed%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company's operating results show significant revenue growth and a reduction in net loss compared to the prior year Condensed Statements of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended June 30, 2020 | Three Months Ended June 30, 2019 | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | :--- | :--- | | Revenue: Sales | $71 | $24 | $108 | $43 | | Gross profit | $28 | $3 | $43 | $10 | | Total operating expenses | $1,653 | $2,294 | $3,994 | $4,662 | | Net operating loss | $(1,625) | $(2,291) | $(3,951) | $(4,652) | | Net loss and comprehensive loss | $(1,629) | $(2,289) | $(3,946) | $(4,653) | | Net loss per common share - basic and fully diluted | $(0.59) | $(1.86) | $(1.99) | $(3.87) | - Sales increased by **$47 thousand (195.8%)** for the three months ended June 30, 2020, compared to the same period in 2019, and by **$65 thousand (151.2%)** for the six months ended June 30, 2020, year-over-year[10](index=10&type=chunk) - Net loss decreased by **$660 thousand (28.8%)** for the three months ended June 30, 2020, and by **$707 thousand (15.2%)** for the six months ended June 30, 2020, compared to the respective prior year periods[10](index=10&type=chunk) [Condensed Statement of Changes in Stockholders' Equity (Deficit)](index=6&type=section&id=Condensed%20Statement%20of%20Changes%20in%20Stockholders'%20Equity%20(Deficit)) Stockholders' equity improved significantly due to proceeds from the issuance of common stock during the period Changes in Stockholders' Equity (in thousands) | Item | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Balance, March 31, 2020 / December 31, 2019 | $2,074 / $2,567 | $2,567 | | Issuance of common stock, sold for cash, net | $4,307 | $5,743 | | Stock-based compensation | $141 | $291 | | Net loss | $(1,629) | $(4,360) | | Balance, June 30, 2020 | $4,893 | $4,893 | - Total stockholders' equity increased from **$2,567 thousand** at December 31, 2019, to **$4,893 thousand** at June 30, 2020, primarily due to net proceeds from common stock issuances[12](index=12&type=chunk) - The company issued **1,574,308 shares** of common stock for cash, net, generating **$4,307 thousand** during the three months ended June 30, 2020[12](index=12&type=chunk) [Condensed Statements of Cash Flows](index=7&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Cash flows reflect reduced operating cash burn and a substantial increase in financing activities Condensed Statements of Cash Flows Highlights (in thousands) | Activity | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | Net cash used in operating activities | $(3,573) | $(3,907) | | Net cash provided by (used in) investing activities | $44 | $(47) | | Net cash provided by financing activities | $6,311 | $1,609 | | Net change in cash | $2,782 | $(2,345) | | Cash at end of period | $4,718 | $2,575 | - Net cash used in operating activities decreased by **$334 thousand (8.5%)** for the six months ended June 30, 2020, compared to the same period in 2019[14](index=14&type=chunk) - Net cash provided by financing activities significantly increased by **$4,702 thousand (292.2%)** for the six months ended June 30, 2020, primarily due to proceeds from common stock issuance and a PPP loan[14](index=14&type=chunk) [Note 1 - Organization and Description of Business](index=8&type=section&id=Note%201%20-%20Organization%20and%20Description%20of%20Business) The company focuses on developing and commercializing fertility control technology for animal pest populations - SenesTech, Inc. develops and commercializes proprietary technology for animal pest population management, initially focusing on rat fertility control with its product **ContraPest®**[16](index=16&type=chunk)[17](index=17&type=chunk) - ContraPest is a non-lethal, fertility control product approved by the EPA for rodent population management, registered in all **50 states and the District of Columbia**[21](index=21&type=chunk)[22](index=22&type=chunk) - The company has an accumulated deficit of **$100.0 million** and cash of **$4.7 million** as of June 30, 2020, and requires additional funding to continue operations and achieve profitability[30](index=30&type=chunk)[32](index=32&type=chunk) [Note 2 - Summary of Significant Accounting Policies](index=10&type=section&id=Note%202%20-%20Summary%20of%20Significant%20Accounting%20Policies) This note outlines the key accounting policies, including revenue recognition, R&D costs, and lease accounting standards - The company adopted **ASC 606** for revenue recognition, recognizing revenue when product is shipped or services are performed[47](index=47&type=chunk)[48](index=48&type=chunk) - Research and development costs are expensed as incurred, including salaries, consulting fees, lab supplies, and regulatory compliance costs[50](index=50&type=chunk) Stock-based Compensation Expense (in thousands) | Period | 2020 | 2019 | | :--- | :--- | :--- | | Three Months Ended June 30 | $140 | $219 | | Six Months Ended June 30 | $291 | $471 | - Effective January 1, 2019, the company adopted **ASU No. 2016-02, Leases (Topic 842)**, recognizing right-of-use lease assets and lease liabilities on its balance sheet[63](index=63&type=chunk) [Note 3 - Fair Value Measurements](index=17&type=section&id=Note%203%20-%20Fair%20Value%20Measurements) The company's common stock warrant liabilities are classified within the Level 3 fair value hierarchy - The company's common stock warrant liabilities are classified as **Level 3** within the fair value hierarchy due to limited activity or transparency of valuation inputs[81](index=81&type=chunk) - As of June 30, 2020, and December 31, 2019, there were **no common stock warrant liabilities** measured at fair value on a recurring basis[84](index=84&type=chunk) [Note 4 - Credit Risk](index=18&type=section&id=Note%204%20-%20Credit%20Risk) The company manages credit risk through a diverse customer base and maintains an allowance for doubtful accounts - The company is subject to concentrations of credit risk in its accounts receivable but limits this risk due to a **diverse customer base**[86](index=86&type=chunk) - An allowance for doubtful trade receivables of **$123 thousand** was maintained at June 30, 2020, and December 31, 2019[86](index=86&type=chunk) [Note 5 - Prepaid Expenses](index=19&type=section&id=Note%205%20-%20Prepaid%20Expenses) Prepaid expenses saw a slight increase, primarily related to insurance and marketing programs Prepaid Expenses (in thousands) | Category | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Director, officer and other insurance | $129 | $115 | | Marketing programs and conferences | $42 | $80 | | Total prepaid expenses | $284 | $257 | - Total prepaid expenses increased by **$27 thousand (10.5%)** from December 31, 2019, to June 30, 2020[89](index=89&type=chunk) [Note 6 - Property and Equipment](index=19&type=section&id=Note%206%20-%20Property%20and%20Equipment) The net value of property and equipment decreased due to depreciation and amortization expenses Property and Equipment, Net (in thousands) | Category | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Research and development equipment | $1,452 | $1,585 | | Office and computer equipment | $733 | $753 | | Total property and equipment, net | $564 | $738 | - Total property and equipment, net, decreased by **$174 thousand (23.6%)** from December 31, 2019, to June 30, 2020[90](index=90&type=chunk) - Depreciation and amortization expense was **$71 thousand** for Q2 2020 and **$148 thousand** for YTD 2020[90](index=90&type=chunk) [Note 7 - Accrued Expenses](index=19&type=section&id=Note%207%20-%20Accrued%20Expenses) Accrued expenses decreased substantially, driven by lower compensation liabilities and litigation settlement Accrued Expenses (in thousands) | Category | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Compensation and related benefits | $382 | $935 | | Accrued Litigation | $0 | $238 | | Total accrued expenses | $399 | $1,193 | - Total accrued expenses decreased significantly by **$794 thousand (66.6%)** from December 31, 2019, to June 30, 2020, primarily due to a reduction in compensation and related benefits and the settlement of accrued litigation[91](index=91&type=chunk) [Note 8 - Borrowings](index=20&type=section&id=Note%208%20-%20Borrowings) The company's borrowings increased significantly due to a loan received under the Paycheck Protection Program Summary of Borrowings (in thousands) | Category | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Short-term debt | $114 | $123 | | Long-term debt, net | $714 | $137 | | Total borrowings | $828 | $260 | - Long-term debt, net, increased substantially by **$577 thousand (421.2%)** from December 31, 2019, to June 30, 2020[93](index=93&type=chunk) - The company received a **$645.7 thousand** loan under the Paycheck Protection Program (PPP) in April 2020, maturing April 15, 2022, with a **1.00% interest rate**, subject to forgiveness[96](index=96&type=chunk) [Note 9 - Common Stock Warrants and Common Stock Warrant Liability](index=21&type=section&id=Note%209%20-%20Common%20Stock%20Warrants%20and%20Common%20Stock%20Warrant%20Liability) The number of outstanding common stock warrants increased dramatically following public and private offerings in 2020 Common Stock Warrants Outstanding | Date | Number of Warrants | | :--- | :--- | | December 31, 2019 | 489,176 | | June 30, 2020 | 2,504,597 | | Weighted-average exercise price (June 30, 2020) | $6.18 per share | - The number of outstanding common stock warrants increased significantly from **489,176** at December 31, 2019, to **2,504,597** at June 30, 2020, primarily due to new issuances in 2020 public and private offerings[100](index=100&type=chunk)[102](index=102&type=chunk) - Warrants issued in January 2020 (**177,500 shares**) have an exercise price of **$9.00** and expire July 28, 2025; Warrants issued in March 2020 (**176,372 shares**) have an exercise price of **$2.88** and expire September 8, 2025[113](index=113&type=chunk)[114](index=114&type=chunk) - In April 2020, **1,574,308 warrants** were issued with an exercise price of **$3.05**, expiring April 24, 2025[124](index=124&type=chunk) [Note 10 - Stockholders' Deficit](index=28&type=section&id=Note%2010%20-%20Stockholders'%20Deficit) The company issued a significant number of common stock shares, generating substantial net proceeds from offerings Common Stock Issued and Outstanding | Date | Shares | | :--- | :--- | | December 31, 2019 | 1,414,671 | | June 30, 2020 | 3,398,832 | - During the six months ended June 30, 2020, the company issued **1,984,161 shares** of common stock, including **1,574,308 shares** from a public offering and pre-funded warrant exercise, generating approximately **$4,334 thousand** in net proceeds[139](index=139&type=chunk)[142](index=142&type=chunk) - Other issuances included **177,500 shares** (net proceeds **$1,200 thousand**) and **176,372 shares** (net proceeds **$500 thousand**) from registered direct offerings, **51,414 shares** for warrant exercise in litigation settlement, and shares for RSU vesting and reverse stock split true-up[141](index=141&type=chunk)[142](index=142&type=chunk)[143](index=143&type=chunk) [Note 11 - Stock-based Compensation](index=30&type=section&id=Note%2011%20-%20Stock-based%20Compensation) This note details the company's equity incentive plans, stock option activity, and related compensation expenses - The 2018 Equity Incentive Plan authorizes the issuance of **50,000 shares**, with an additional **122,279 shares** available from the prior 2015 Plan[145](index=145&type=chunk) Stock Option Activity | Metric | Outstanding at Dec 31, 2019 | Granted | Forfeited | Outstanding at June 30, 2020 | | :--- | :--- | :--- | :--- | :--- | | Number of Options | 136,489 | 25,000 | (6,000) | 155,489 | | Weighted Average Exercise Price | $28.00 | $2.44 | N/A | $24.83 | Stock-based Compensation Expense (in thousands) | Category | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Research and development | $2 | $5 | | General and administrative | $138 | $286 | | Total | $140 | $291 | - As of June 30, 2020, unrecognized compensation cost related to restricted stock units and unvested options was **$719 thousand**, to be recognized over a weighted average period of **33 months**[158](index=158&type=chunk) [Note 12 - Commitments and Contingencies](index=33&type=section&id=Note%2012%20-%20Commitments%20and%20Contingencies) The company outlines its lease commitments and confirms no material pending or threatened litigation - The company is not aware of any pending or threatened litigation that could materially adversely affect its financial position[159](index=159&type=chunk) - The company has finance leases for equipment expiring through April 2022 and operating leases for corporate headquarters and manufacturing facilities expiring in November 2024 and December 2020, respectively[160](index=160&type=chunk)[161](index=161&type=chunk)[164](index=164&type=chunk) Future Minimum Lease Payments (in thousands) as of June 30, 2020 | Year | Finance Leases | Operating Lease | | :--- | :--- | :--- | | 2020 | $32 | $116 | | 2021 | $58 | $136 | | 2022 | $28 | $138 | | 2023 | $0 | $141 | | 2024 | $0 | $132 | | Total | $118 | $663 | [Note 13 - Subsequent Events](index=34&type=section&id=Note%2013%20-%20Subsequent%20Events) This note discusses the ongoing impact of the COVID-19 pandemic and a new lease agreement - The COVID-19 pandemic has caused significant slowdowns and delays in field studies and sales efforts, potentially impacting future results of operations[166](index=166&type=chunk) - The company entered into a new lease in Phoenix, Arizona, on June 22, 2020, for manufacturing and warehousing, commencing August 1, 2020, and expiring November 30, 2024[167](index=167&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition, results of operations, and the ongoing impact of COVID-19 [Overview](index=36&type=section&id=Overview) The company has a history of operating losses and an accumulated deficit, with ongoing concerns about COVID-19's impact - SenesTech has sustained significant operating losses since inception, with net losses of **$1.6 million** for Q2 2020 and **$4.4 million** for YTD 2020[175](index=175&type=chunk) - As of June 30, 2020, the company had an accumulated deficit of **$100.0 million** and cash and cash equivalents of **$4.7 million**[174](index=174&type=chunk) - Stock-based compensation represented **8.5%** and **7.3%** of total operating expenses for the three and six months ended June 30, 2020, respectively[177](index=177&type=chunk) - The COVID-19 pandemic has caused significant slowdowns in field studies and sales efforts, potentially impacting future results, and the company has concerns over customer spending[180](index=180&type=chunk) [Components of our Results of Operations](index=37&type=section&id=Components%20of%20our%20Results%20of%20Operations) This section details the primary drivers of the company's revenues and major expense categories - Net sales primarily derive from commercial sales of **ContraPest** and related components, along with consulting and implementation services[181](index=181&type=chunk) - Research and development expenses include personnel costs, product development expenses, and facility-related costs, all expensed as incurred[182](index=182&type=chunk)[183](index=183&type=chunk) - Selling, general and administrative expenses include salaries, stock-based compensation, facility costs, and professional fees, with a focus on improving cost structure and shifting resources to commercialization[185](index=185&type=chunk)[186](index=186&type=chunk) - The company has federal and state net operating loss carryforwards of approximately **$61.3 million** and **$47.8 million**, respectively, as of June 30, 2020, with a full valuation allowance recorded[192](index=192&type=chunk) [Comparison of the Three and Six Months Ended June 30, 2020 and 2019](index=40&type=section&id=Comparison%20of%20the%20Three%20and%20Six%20Months%20Ended%20June%2030,%202020%20and%202019) The company's financial performance improved with increased sales, higher gross margins, and reduced operating expenses Key Financial Performance Comparison (in thousands) | Metric | Q2 2020 | Q2 2019 | YTD 2020 | YTD 2019 | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $71 | $24 | $108 | $43 | | Cost of Sales | $43 | $21 | $65 | $33 | | Gross Profit | $28 | $3 | $43 | $10 | | Gross Profit Margin | 39.4% | 12.5% | 39.8% | 23.3% | | Research and Development Expenses | $226 | $463 | $522 | $927 | | Selling, General and Administrative Expenses | $1,427 | $1,831 | $3,472 | $3,735 | | Net Operating Loss | $(1,625) | $(2,291) | $(3,951) | $(4,652) | | Net Loss | $(1,629) | $(2,289) | $(3,946) | $(4,653) | - Net sales increased by **$47 thousand (195.8%)** in Q2 2020 and **$65 thousand (151.2%)** in YTD 2020, partly due to internet sales capability and customer product implementation services, though offset by COVID-19 impacts[195](index=195&type=chunk)[204](index=204&type=chunk) - Gross profit margin improved significantly to **39.4%** in Q2 2020 (from 12.5% in Q2 2019) and **39.8%** in YTD 2020 (from 23.3% in YTD 2019), driven by reduced scrap expense and process efficiencies[197](index=197&type=chunk)[206](index=206&type=chunk) - Research and development expenses decreased by **$237 thousand (51.2%)** in Q2 2020 and **$405 thousand (43.7%)** in YTD 2020, primarily due to reclassification of field support employees to sales and marketing and reduced personnel costs[198](index=198&type=chunk)[208](index=208&type=chunk) - Selling, general and administrative expenses decreased by **$400 thousand (21.8%)** in Q2 2020 and **$200 thousand (5.4%)** in YTD 2020, mainly due to lower salary costs (including stock compensation), reduced travel, and professional service fees, partially offset by increased expenses in other areas[201](index=201&type=chunk)[211](index=211&type=chunk) [Liquidity and Capital Resources](index=44&type=section&id=Liquidity%20and%20Capital%20Resources) The company has historically funded operations through equity and debt financing and will require additional capital - The company has funded operations through equity securities sales (**$73.2 million** net proceeds), debt financing, licensing fees (**$1.7 million**), and product sales (**$0.7 million**) through June 30, 2020[218](index=218&type=chunk) - As of June 30, 2020, the company had an accumulated deficit of **$100.0 million** and cash and cash equivalents of **$4.7 million**[218](index=218&type=chunk) - The company received **$645.7 thousand** from the Paycheck Protection Program (PPP) loan to retain employees and cover payroll, lease, interest, and utility payments[219](index=219&type=chunk) - **Additional funding will be required** to support ongoing operations, marketing, sales, product development, regulatory approvals, and public company costs, especially with potential delays from the COVID-19 pandemic[221](index=221&type=chunk)[222](index=222&type=chunk)[223](index=223&type=chunk) Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | Cash used in operating activities | $(3,573) | $(3,907) | | Cash provided by (used in) investing activities | $44 | $(47) | | Cash provided by financing activities | $6,311 | $1,609 | | Net increase (decrease) in cash and cash equivalents | $2,782 | $(2,345) | [Critical Accounting Policies and Significant Judgments and Estimates](index=46&type=section&id=Critical%20Accounting%20Policies%20and%20Significant%20Judgments%20and%20Estimates) This section highlights key accounting policies, including revenue recognition and stock-based compensation valuation - The company adopted **ASC 606** for revenue recognition, identifying performance obligations and recognizing revenue upon satisfaction[235](index=235&type=chunk) - Stock-based compensation costs are recognized based on the estimated fair value of awards using the **Black-Scholes option-pricing model**, with key assumptions including expected term, volatility, risk-free interest rate, and dividend yield[236](index=236&type=chunk)[238](index=238&type=chunk) - The company has irrevocably elected to **'opt out'** of the extended transition period for complying with new or revised accounting standards as an emerging growth company[241](index=241&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=48&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) There are no applicable quantitative and qualitative disclosures about market risk for the company - The company has **no applicable** quantitative and qualitative disclosures about market risk[242](index=242&type=chunk) [Item 4. Controls and Procedures](index=48&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2020 - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2020[245](index=245&type=chunk) - There were **no material changes** in internal control over financial reporting during the quarter ended June 30, 2020[246](index=246&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=49&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no material adverse effects from legal proceedings as detailed in Note 12 - Information on legal proceedings is provided in Note 12, indicating **no material adverse effects** on the company's financial position, results of operations, or liquidity[248](index=248&type=chunk)[159](index=159&type=chunk) [Item 1A. Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) The company highlights the significant adverse impacts of the COVID-19 pandemic on its business operations - The **COVID-19 pandemic** poses significant risks, including widespread travel and transportation restrictions, closures of commercial spaces, and limitations on sales and field studies[250](index=250&type=chunk) - Potential adverse effects include disruptions to manufacturing, reduced customer purchasing, supply chain issues for critical raw materials from Asia, and limited ability to raise necessary financing[250](index=250&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=49&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities or use of proceeds for the period - **No unregistered sales** of equity securities or use of proceeds were reported[251](index=251&type=chunk) [Item 3. Defaults Upon Senior Securities](index=49&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities during the period - **No defaults** upon senior securities were reported[252](index=252&type=chunk) [Item 4. Mine Safety Disclosures](index=49&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Mine safety disclosures are not applicable to the company's operations - Mine safety disclosures are **not applicable** to the company[252](index=252&type=chunk) [Item 5. Other Information](index=49&type=section&id=Item%205.%20Other%20Information) The company reports no other information for the period - **No other information** was reported[253](index=253&type=chunk) [Item 6. Exhibits](index=50&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including corporate documents and certifications - The report includes exhibits such as the Amended and Restated Certificate of Incorporation, Bylaws, Promissory Note, Securities Purchase Agreement, 2018 Equity Incentive Plan, and a Standard Industrial/Commercial Multi-Tenant Lease[255](index=255&type=chunk) - Certifications from the Chief Executive Officer and Chief Financial Officer, as well as XBRL instance and taxonomy documents, are also filed as exhibits[255](index=255&type=chunk) [SIGNATURES](index=51&type=section&id=SIGNATURES) The report is certified by the company's Chief Executive Officer and Chief Financial Officer - The report is signed by **Kenneth Siegel, Chief Executive Officer**, and **Thomas C. Chesterman, Chief Financial Officer and Treasurer**, on August 13, 2020[257](index=257&type=chunk)

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201%20Financial%20Statements) The company presents its unaudited condensed financial statements for the quarter ended March 31, 2020, and accompanying notes [Condensed Balance Sheets](index=4&type=section&id=CONDENSED%20BALANCE%20SHEETS) The balance sheets show a decrease in total assets and stockholders' equity from December 31, 2019, to March 31, 2020 | Metric | March 31, 2020 (in thousands) | December 31, 2019 (in thousands) | | :----------------------------- | :----------------------------- | :----------------------------- | | Cash | $1,492 | $1,936 | | Total current assets | $2,991 | $3,542 | | Total assets | $4,249 | $4,979 | | Total current liabilities | $1,455 | $1,581 | | Total liabilities | $2,175 | $2,412 | | Total stockholders' equity | $2,074 | $2,567 | | Accumulated deficit | $(98,598) | $(95,867) | [Condensed Statements of Operations and Comprehensive Loss](index=5&type=section&id=CONDENSED%20STATEMENTS%20OF%20OPERATIONS%20AND%20COMPREHENSIVE%20LOSS) The company reported increased sales and gross profit but continued to incur a net loss impacted by a deemed dividend adjustment | Metric | Three Months Ended March 31, 2020 (in thousands) | Three Months Ended March 31, 2019 (in thousands) | | :------------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Sales | $37 | $19 | | Cost of sales | $22 | $12 | | Gross profit | $15 | $7 | | Research and development | $296 | $464 | | Selling, general and administrative | $2,045 | $1,904 | | Total operating expenses | $2,341 | $2,368 | | Net operating loss | $(2,326) | $(2,361) | | Net loss and comprehensive loss | $(2,317) | $(2,364) | | Deemed dividend-warrant price protection | $414 | $- | | Net loss attributable to common shareholders | $(2,731) | $(2,364) | | Net loss per common share | $(1.69) | $(2.01) | [Condensed Statement of Changes in Stockholders' Equity (Deficit)](index=6&type=section&id=CONDENSED%20STATEMENT%20OF%20CHANGES%20IN%20STOCKHOLDERS'%20EQUITY%20(DEFICIT)) Stockholders' equity changed due to stock issuances and warrant exercises, offset by a significant net loss for the quarter | Metric | Balance, December 31, 2019 (in thousands) | Balance, March 31, 2020 (in thousands) | | :------------------------------------ | :---------------------------------------- | :--------------------------------------- | | Common Stock (Shares) | 1,414,671 | 1,819,981 | | Common Stock (Amount) | $1 | $2 | | Additional Paid-In Capital | $98,433 | $100,670 | | Accumulated Deficit | $(95,867) | $(98,598) | | Total Stockholders' Equity (Deficit) | $2,567 | $2,074 | | Issuance of common stock, sold for cash, net | - | $1,708 | | Net loss for the three months ended March 31, 2020 | - | $(2,731) | [Condensed Statements of Cash Flows](index=7&type=section&id=CONDENSED%20STATEMENTS%20OF%20CASH%20FLOWS) Financing activities provided a significant cash inflow, partially offsetting negative operating cash flow and a net decrease in cash | Metric | Three Months Ended March 31, 2020 (in thousands) | Three Months Ended March 31, 2019 (in thousands) | | :------------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Net cash used in operating activities | $(1,871) | $(1,948) | | Net cash provided by (used in) investing activities | $40 | $(11) | | Net cash provided by (used in) financing activities | $1,387 | $(15) | | NET CHANGE IN CASH | $(444) | $(1,974) | | CASH AT END OF PERIOD | $1,492 | $2,946 | [Note 1 - Organization and Description of Business](index=8&type=section&id=Note%201%20-%20Organization%20and%20Description%20of%20Business) SenesTech commercializes ContraPest®, a non-lethal rat fertility control product, but has sustained significant operating losses - SenesTech, Inc. develops and commercializes **ContraPest®**, a unique non-lethal fertility control product for rat populations, targeting both male and female rats to reduce reproduction[18](index=18&type=chunk)[19](index=19&type=chunk)[22](index=22&type=chunk) - **ContraPest®** is the first and only non-lethal, fertility control product approved by the EPA for rodent management, with registration in all 50 states and the District of Columbia[23](index=23&type=chunk)[24](index=24&type=chunk) - The company effected a **1-for-20 reverse stock split** on February 4, 2020, retrospectively adjusting all share and per share amounts[26](index=26&type=chunk) - SenesTech has an **accumulated deficit of $98.6 million** and cash and cash equivalents of **$1.5 million** as of March 31, 2020, and requires additional funding to continue as a going concern[27](index=27&type=chunk)[31](index=31&type=chunk)[33](index=33&type=chunk) [Note 2 - Summary of Significant Accounting Policies](index=11&type=section&id=Note%202%20-%20Summary%20of%20Significant%20Accounting%20Policies) The company outlines its significant accounting policies, including revenue recognition, leases, and stock-based compensation | Inventory Component | March 31, 2020 (in thousands) | December 31, 2019 (in thousands) | | :------------------ | :----------------------------- | :----------------------------- | | Raw materials | $1,024 | $1,035 | | Finished goods | $142 | $149 | | Total net inventory | $1,162 | $1,180 | | Expense Category | Three Months Ended March 31, 2020 (in thousands) | Three Months Ended March 31, 2019 (in thousands) | | :------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Research and development | $3 | $9 | | Selling, general and administrative | $148 | $243 | | Total stock-based compensation expense | $151 | $252 | | Potentially Dilutive Securities | March 31, 2020 | March 31, 2019 | | :------------------------------ | :------------- | :------------- | | Common stock purchase warrants | 812,963 | 321,590 | | Restricted stock unit | 5,877 | 11,895 | | Common stock options | 136,239 | 81,499 | | Total | 955,079 | 414,984 | - Effective January 1, 2019, the company adopted ASU No. 2016-02, Leases (Topic 842), recognizing right-of-use lease assets and lease liabilities on its balance sheet[67](index=67&type=chunk). As of March 31, 2020, the balance in Right to Use Asset-Long Term was **$622 thousand** and Lease Liability-Long Term was **$624 thousand**[68](index=68&type=chunk) [Note 3 - Fair Value Measurements](index=18&type=section&id=Note%203%20-%20Fair%20Value%20Measurements) Common stock warrant liabilities are measured at fair value and classified as Level 3 due to limited observable inputs - The company's common stock warrant liabilities are classified as **Level 3** in the fair value hierarchy due to limited activity or less transparency around valuation inputs[85](index=85&type=chunk) - The estimated fair value of the derivative warrant liability was **$0** at March 31, 2020, with no change in fair value recorded for the three months ended March 31, 2020[116](index=116&type=chunk) [Note 4 - Credit Risk](index=20&type=section&id=Note%204%20-%20Credit%20Risk) The company mitigates credit risk through a diverse customer base and maintains a reserve for doubtful trade receivables - The company maintained a reserve for doubtful trade receivables of **$123 thousand** at March 31, 2020, and December 31, 2019, to address potential uncollectable accounts[92](index=92&type=chunk) [Note 5 - Prepaid Expenses](index=20&type=section&id=Note%205%20-%20Prepaid%20Expenses) Prepaid expenses increased primarily due to higher director and officer insurance and NASDAQ fees | Prepaid Expense Category | March 31, 2020 (in thousands) | December 31, 2019 (in thousands) | | :----------------------- | :----------------------------- | :----------------------------- | | Director compensation | $- | $9 | | Director and officer insurance | $123 | $115 | | NASDAQ fees | $43 | $- | | Legal retainer | $25 | $25 | | Marketing programs and conferences | $73 | $80 | | Professional services retainer | $8 | $8 | | Rent | $20 | $11 | | Equipment service deposits | $- | $1 | | Engineering, software licenses and other | $5 | $8 | | Total prepaid expenses | $297 | $257 | [Note 6 - Property and Equipment](index=20&type=section&id=Note%206%20-%20Property%20and%20Equipment) Net property and equipment decreased due to depreciation and the sale of equipment, which generated a gain | Asset Category | March 31, 2020 (in thousands) | December 31, 2019 (in thousands) | | :----------------------------- | :----------------------------- | :----------------------------- | | Research and development equipment | $1,470 | $1,585 | | Office and computer equipment | $733 | $753 | | Total property and equipment, gross | $2,581 | $2,716 | | Less accumulated depreciation and amortization | $(1,945) | $(1,978) | | Total net property and equipment | $636 | $738 | | Depreciation and amortization expense (3 months) | $77 | $111 | | Gain on sale of equipment (3 months) | $15 | $- | [Note 7 - Accrued Expenses](index=20&type=section&id=Note%207%20-%20Accrued%20Expenses) Accrued expenses decreased significantly, mainly due to reduced compensation and the settlement of accrued litigation | Accrued Expense Category | March 31, 2020 (in thousands) | December 31, 2019 (in thousands) | | :----------------------- | :----------------------------- | :----------------------------- | | Compensation and related benefits | $578 | $935 | | Accrued Litigation | $- | $238 | | Board Compensation | $9 | $17 | | Personal property and franchise tax | $10 | $2 | | Other | $3 | $1 | | Total accrued expenses | $600 | $1,193 | [Note 8 - Borrowings](index=22&type=section&id=Note%208%20-%20Borrowings) Total borrowings decreased during the quarter, with balances outstanding for both short-term and long-term debt | Borrowing Category | March 31, 2020 (in thousands) | December 31, 2019 (in thousands) | | :----------------------------- | :----------------------------- | :----------------------------- | | Short-term debt | $116 | $123 | | Finance lease obligations | $120 | $155 | | Other promissory notes | $92 | $105 | | Total long-term debt | $96 | $137 | | Total borrowings (gross) | $212 | $260 | - Finance lease obligations carry interest rates ranging from **7.3% to 18.3%** and expire through April 2022[100](index=100&type=chunk). Other promissory notes have interest rates from **13.1% to 13.3%** and expire through June 2022[101](index=101&type=chunk) [Note 9 - Common Stock Warrants and Common Stock Warrant Liability](index=23&type=section&id=Note%209%20-%20Common%20Stock%20Warrants%20and%20Common%20Stock%20Warrant%20Liability) Warrant activity included new issuances from private placements and downward price adjustments resulting in deemed dividends | Warrant Type | Balance, December 31, 2019 | Issued (3 months ended March 31, 2020) | Exercised (3 months ended March 31, 2020) | Balance, March 31, 2020 | | :------------------------------------------ | :------------------------- | :------------------------------------- | :---------------------------------------- | :---------------------- | | Various (2016 and prior) | 17,059 | - | (9,375) | 7,684 | | Common Stock Offering (Nov 2017) | 143,501 | - | - | 143,501 | | Dealer Manager (Nov 2017) | 47,250 | - | (47,250) | - | | Warrant Reissue (June 2018) | 56,696 | - | - | 56,696 | | Rights Offering Warrants (Aug 2018) | 202,943 | - | - | 202,943 | | Dealer Manager (Aug 2018) | 13,393 | - | - | 13,393 | | Dealer Manager (July 2019) | 8,334 | - | - | 8,334 | | Registered Direct Offering (Jan 2020) | - | 177,500 | - | 177,500 | | Dealer Manager Warrants (Jan 2020) | - | 13,312 | - | 13,312 | | Registered Direct Offering (Mar 2020) | - | 176,372 | - | 176,372 | | Dealer Manager Warrants (Mar 2020) | - | 13,228 | - | 13,228 | | Total Outstanding Warrants | 489,176 | 380,412 | (56,625) | 812,963 | - As of March 31, 2020, the company had **812,963 shares** of common stock issuable upon exercise of outstanding common stock warrants, at a weighted-average exercise price of **$12.58 per share**[105](index=105&type=chunk) - Downward adjustments to warrant exercise prices in January and March 2020, due to registered direct offerings, resulted in deemed dividends of **$285 thousand** and **$129 thousand**, respectively, on unexercised warrants with antidilution protection[106](index=106&type=chunk)[107](index=107&type=chunk) - In March 2020, **51,414 common shares** were issued in a cashless exercise of 56,625 warrants, settling an outstanding litigation reserve of **$238 thousand**[130](index=130&type=chunk) [Note 10 - Stockholders' Deficit](index=27&type=section&id=Note%2010%20-%20Stockholders'%20Deficit) The number of common stock shares outstanding increased due to registered direct offerings and warrant exercises | Metric | March 31, 2020 | December 31, 2019 | | :------------------------------------ | :------------- | :---------------- | | Common stock issued and outstanding | 1,819,981 | 1,414,671 | - During the three months ended March 31, 2020, the company issued **405,310 shares** of common stock, including 177,500 shares from a January 2020 offering (net proceeds **$1.2 million**) and 176,372 shares from a March 2020 offering (net proceeds **$0.5 million**)[134](index=134&type=chunk)[135](index=135&type=chunk)[136](index=136&type=chunk) [Note 11 - Stock-based Compensation](index=28&type=section&id=Note%2011%20-%20Stock-based%20Compensation) Stock-based compensation expense decreased from the prior year, with significant unrecognized compensation cost remaining - As of March 31, 2020, **33,758 shares** of common stock were available for issuance under the 2018 Equity Incentive Plan[140](index=140&type=chunk) | Metric | March 31, 2020 | December 31, 2019 | | :------------------------------------ | :------------- | :---------------- | | Options Outstanding | 136,239 | 136,489 | | Weighted Average Exercise Price Per Share | $27.90 | $28.00 | | Options Exercisable | 94,298 | - | | Metric | March 31, 2020 | December 31, 2019 | | :------------------------------------ | :------------- | :---------------- | | Restricted Stock Units Outstanding | 5,877 | 5,877 | | Weighted Average Grant-Date Fair Value Per Unit | $30.28 | $30.28 | | Expense Category | Three Months Ended March 31, 2020 (in thousands) | Three Months Ended March 31, 2019 (in thousands) | | :------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Research and development | $3 | $9 | | Selling, general and administrative | $148 | $243 | | Total stock-based compensation expense | $151 | $252 | - At March 31, 2020, total unrecognized compensation cost related to unvested options and restricted stock units was **$818 thousand**, to be recognized over a weighted average period of 24 months[150](index=150&type=chunk) [Note 12 - Commitments and Contingencies](index=30&type=section&id=Note%2012%20-%20Commitments%20and%20Contingencies) The company has various lease commitments for its facilities and is involved in certain legal proceedings - An employment discrimination charge filed by a former EVP was closed by the EEOC on February 28, 2020, with **no violations found**[152](index=152&type=chunk) - The company's manufacturing facility lease in Flagstaff, Arizona, expires in December 2020, and its corporate headquarters lease in Phoenix, Arizona, expires in November 2024[154](index=154&type=chunk)[158](index=158&type=chunk) | Years Ending December 31, | Finance Leases (in thousands) | Operating Lease (in thousands) | | :------------------------ | :---------------------------- | :----------------------------- | | 2020 | $50 | $174 | | 2021 | $58 | $136 | | 2022 | $28 | $138 | | 2023 | $- | $141 | | 2024 | $- | $132 | | Total minimum lease payments | $136 | $721 | [Note 13 - Subsequent Events](index=32&type=section&id=Note%2013%20-%20Subsequent%20Events) Subsequent events include the impact of COVID-19, receipt of a PPP loan, and a public offering to raise capital - The **COVID-19 pandemic** caused a significant slowdown in field studies and sales efforts starting in March 2020, with potential impacts on future results and challenges in communicating with customers[161](index=161&type=chunk) - On April 15, 2020, the company received a **$645.7 thousand loan** under the Paycheck Protection Program (PPP) at 1.00% interest, subject to forgiveness for qualifying expenses[162](index=162&type=chunk) - A public offering closed on April 24, 2020, is estimated to generate approximately **$4.3 million in net proceeds**, intended for working capital and ContraPest commercialization[163](index=163&type=chunk)[164](index=164&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition, operating results, continued losses, and the impact of COVID-19 [Forward-Looking Statements](index=33&type=section&id=Forward-Looking%20Statements) This section identifies forward-looking statements within the report that involve risks and uncertainties - Forward-looking statements in the report cover topics such as the impacts of the **COVID-19 pandemic**, commercialization strategies, market opportunities, regulatory approvals, financial estimates (revenue, expenses, capital), R&D plans, intellectual property, and litigation[170](index=170&type=chunk) [Overview](index=34&type=section&id=Overview) SenesTech has consistently incurred significant operating losses and requires further funding to sustain operations - Through March 31, 2020, the company received **$68.9 million** in net proceeds from equity and debt financing, **$1.7 million** from licensing fees, and **$0.6 million** from net product sales[174](index=174&type=chunk) | Metric | March 31, 2020 (in thousands) | March 31, 2019 (in thousands) | | :------------------------------------ | :----------------------------- | :----------------------------- | | Net losses | $(2,700) | $(2,400) | | Accumulated deficit | $(98,600) | - | | Cash and cash equivalents | $1,500 | - | | Stock-based compensation expense | $151 | $252 | | Stock-based compensation as % of total operating expenses | 6.4% | 10.6% | - The **COVID-19 pandemic** has caused a significant slowdown in field studies and sales efforts, potentially impacting future results and increasing concerns over customer spending and government purchases[180](index=180&type=chunk) [Components of our Results of Operations](index=35&type=section&id=Components%20of%20our%20Results%20of%20Operations) The company details its financial components, including sales, operating expenses, and its focus on improving cost structure - Research and development expenses primarily include employee-related costs, product development expenses, and facility-related costs[183](index=183&type=chunk) - The company is focused on improving its cost structure, including relocating to more cost-efficient space, organizational restructuring, and improving manufacturing processes, aiming for a **50% or greater gross margin**[186](index=186&type=chunk) - As of March 31, 2020, the company had federal and state net operating loss carryforwards of approximately **$61.3 million** and **$47.8 million**, respectively, with a full valuation allowance recorded due to uncertainty of realization[192](index=192&type=chunk) [Comparison of the Three Months Ended March 31, 2020 and 2019](index=37&type=section&id=Comparison%20of%20the%20Three%20Months%20Ended%20March%2031,%202020%20and%202019) Sales and gross profit increased, while R&D expenses decreased and SG&A expenses rose due to higher professional fees | Metric | Three Months Ended March 31, 2020 (in thousands) | Three Months Ended March 31, 2019 (in thousands) | Change (in thousands) | | :------------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | :-------------------- | | Sales | $37 | $19 | $18 | | Cost of sales | $22 | $12 | $10 | | Gross profit | $15 (40.5%) | $7 (39.0%) | $8 | | Research and development | $296 | $464 | $(168) | | Selling, general and administrative | $2,045 | $1,904 | $141 | | Net operating loss | $(2,326) | $(2,361) | $35 | | Interest income/expense, net | $(6) | $2 | $(8) | | Other income (expense), net | $15 | $(5) | $20 | | Net loss attributable to common shareholders | $(2,731) | $(2,364) | $(367) | - The decrease in R&D expenses was primarily due to a reclassification of certain field support employees to sales and marketing, and the cancellation of a facility lease[198](index=198&type=chunk)[199](index=199&type=chunk) - The increase in SG&A expenses was mainly driven by a **$165 thousand increase** in professional service fees, largely due to legal expenses related to litigation settlement and common stock offerings[201](index=201&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) The company has a significant accumulated deficit and anticipates needing additional financing to support ongoing operations - As of March 31, 2020, the company had an accumulated deficit of **$98.6 million** and cash and cash equivalents of **$1.5 million**[206](index=206&type=chunk) - The company will need **additional funding** to continue operations, achieve profitability, and become cash flow positive, with the COVID-19 pandemic likely increasing this need due to potential delays in field studies and sales[208](index=208&type=chunk)[209](index=209&type=chunk)[211](index=211&type=chunk) | Cash Flow Activity | Three Months Ended March 31, 2020 (in thousands) | Three Months Ended March 31, 2019 (in thousands) | | :------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Cash used in operating activities | $(1,871) | $(1,948) | | Cash provided by (used in) investing activities | $40 | $(11) | | Cash provided by (used in) financing activities | $1,387 | $(15) | | Net increase (decrease) in cash and cash equivalents | $(444) | $(1,974) | - Operating activities used **$1.9 million** in cash for both periods, primarily due to net losses[213](index=213&type=chunk)[215](index=215&type=chunk). Financing activities provided **$1.4 million** in 2020 from common stock issuances, compared to using $15 thousand in 2019[217](index=217&type=chunk)[218](index=218&type=chunk) [Critical Accounting Policies and Significant Judgments and Estimates](index=41&type=section&id=Critical%20Accounting%20Policies%20and%20Significant%20Judgments%20and%20Estimates) Critical accounting policies include revenue recognition and stock-based compensation, which requires subjective assumptions - The company adopted **ASC 606** for revenue recognition, identifying performance obligations similar to ASC 605[223](index=223&type=chunk) - Stock-based compensation expense was **$151 thousand** for the three months ended March 31, 2020, and **$252 thousand** for the same period in 2019[225](index=225&type=chunk)[228](index=228&type=chunk) - The **Black-Scholes option-pricing model** used for stock-based awards relies on subjective assumptions including expected term (simplified method), expected volatility (comparable companies), risk-free interest rate, and zero expected dividends[226](index=226&type=chunk) [Emerging Growth Company Status](index=43&type=section&id=Emerging%20Growth%20Company%20Status) SenesTech has elected to opt out of the extended transition period for complying with new accounting standards - SenesTech has irrevocably elected to **'opt out'** of the extended transition period for complying with new or revised financial accounting standards provided by the JOBS Act[229](index=229&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=43&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No quantitative and qualitative disclosures about market risk are applicable for this reporting period [Item 4. Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2020 - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were **effective** as of March 31, 2020[233](index=233&type=chunk) - There were **no material changes** in the company's internal control over financial reporting during the quarter ended March 31, 2020[234](index=234&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) Information regarding legal proceedings is available in Note 12 of the Condensed Financial Statements [Item 1A. Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) The company updated its risk factors to address the adverse impacts of the COVID-19 pandemic on its business - The **COVID-19 pandemic** has adversely affected the company's business through travel and transportation restrictions, impacting sales, field studies, and potentially manufacturing operations[238](index=238&type=chunk) - The degree to which COVID-19 may impact the company's results of operations and financial condition is **currently unknown** and depends on future developments of the pandemic and governmental responses[239](index=239&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities were reported during the quarter that were not previously disclosed [Item 3. Defaults Upon Senior Securities](index=44&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period [Item 4. Mine Safety Disclosures](index=44&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Mine safety disclosures are not applicable to the company [Item 5. Other Information](index=44&type=section&id=Item%205.%20Other%20Information) No other information is reported for the period [Item 6. Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section provides an index of exhibits filed with the Quarterly Report on Form 10-Q [SIGNATURES](index=46&type=section&id=SIGNATURES) The report is certified by the duly authorized signatures of the company's CEO and CFO

SenesTech, Inc. (NASDAQ:SNES) Q1 2020 Earnings Conference Call May 15, 2020 11:00 AM ET Company Participants Robert Blum – Lytham Partners Ken Siegel – Chief Executive Officer Tom Chesterman – Chief Financial Officer Conference Call Participants Ian Gilson – Zacks Investment Research Operator Good morning, and welcome to the SenesTech, Inc. Reports First Quarter Fiscal Year 2020 Results Conference Call. [Operator Instructions] Please also note, today’s event is being recorded. At this time, I’d like to turn ...

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 December 31, 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: 001-37941 SENESTECH, INC. (Exact name of registrant as specified in its charter) | Delaware | 20-2079805 | | --- | --- | | (State or oth ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from to Commission File Number: 001-37941 SENESTECH, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 3140 N. Caden Court, Suite 1 Flagstaff, AZ 86004 FORM 10-Q ☒ 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 SECT ...

SenesTech, Inc. (NASDAQ:SNES) Q3 2019 Earnings Conference Call November 12, 2019 5:00 PM ET Company Participants Robert Blum – Lytham Partners Ken Siegel – Chief Executive Officer Tom Chesterman – Chief Financial Officer Conference Call Participants Kevin Ellich – Craig-Hallum Ian Gilson – Zacks Investment Research Operator Good afternoon, and welcome to the SenesTech, Incorporated. Third Quarter Fiscal Year 2019 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Inst ...

| --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | SenesTech Disclaimer SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS The following information and the statements made during this presentation contain forward-looking statements. These forward-looking statements are based on the current expectations and beliefs of the Company's management, as well as a number of assumptions concerning future events. The forward-looking statements include statements that re ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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: 001-37941 (State or other jurisdiction of incorporation or organization) SENESTECH, INC. 3140 N. Caden Court, Suite 1 Flagstaff, AZ 86004 (Exact name of registrant as specified in its charter) FORM 10-Q Delaware 20-2079805 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURIT ...

Start Time: 17:00 January 1, 0000 5:54 PM ET SenesTech, Inc. (NASDAQ:SNES) Q2 2019 Earnings Conference Call August 13, 2019, 17:00 PM ET Company Participants Ken Siegel - CEO Tom Chesterman - CFO Robert Blum - Managing Partner, Lytham Partners, LLC Phoenix Conference Call Participants Kevin Ellich - Craig-Hallum Operator Good afternoon, and welcome to the SenesTech Second Quarter Fiscal 2019 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions]. After today ...

SenesTech, Inc. (NASDAQ:SNES) Q1 2019 Earnings Conference Call May 15, 2019 5:00 PM ET Company Participants Robert Blum - Managing Partner, Lytham Partners, LLC Phoenix Loretta Mayer - Chief Scientific Officer and Chairman of the Board Kenneth Siegel - Chief Executive Officer Edward Albe - Senior Vice President of Commercialization Tom Chesterman - Chief Financial Officer Cheryl Dyer - Chief Research Officer Conference Call Participants Kevin Ellich - Craig-Hallum Capital Group LLC Operator Good day, and we ...