Ashford Hospitality Trust(AHT) - 2025 Q1 - Quarterly Report
2025-05-14 20:51
Portfolio and Property Management - As of March 31, 2025, the company's portfolio consisted of 67 consolidated operating hotel properties, totaling 16,736 rooms[184] - The company managed 50 of its 68 hotel properties through Remington Hospitality, a subsidiary of Ashford Inc.[189] - The company owns 100% of its hotel properties, totaling 2,800 rooms across various locations[280] - The hotel portfolio includes 15 Embassy Suites and Hilton Garden Inn properties, with room counts ranging from 119 to 276[280] - The company reported a total of 333 owned rooms, representing 100% ownership in the hotel properties[281] - The company has expanded its portfolio to include 1,158 owned rooms across various locations, maintaining a 100% ownership rate[281] - The total number of hotel properties owned by the company is 17,329, with 17,196 rooms[282] Financial Performance - Total revenue decreased by $26.5 million, or 8.7%, to $277.4 million for the three months ended March 31, 2025, compared to $303.9 million in the same period of 2024[211] - Net loss attributable to the Company was $20.0 million for the 2025 quarter, a decrease of $91.5 million from net income of $71.6 million in the 2024 quarter[215] - Net income for Q1 2025 was $(22,198) thousand, a significant decrease from $72,405 thousand in Q1 2024[276] - EBITDA for Q1 2025 was $92,857 thousand, down from $199,679 thousand in Q1 2024, representing a decline of approximately 53.5%[276] - FFO available to common stockholders and OP unitholders for Q1 2025 was $(33,374) thousand, compared to $(31,900) thousand in Q1 2024[279] - Adjusted FFO available to common stockholders and OP unitholders for Q1 2025 was $(5,625) thousand, an improvement from $(13,777) thousand in Q1 2024[279] Revenue and Occupancy Metrics - Rooms revenue decreased by $22.9 million, or 10.0%, to $206.3 million in the 2025 quarter, primarily due to decreases from hotel dispositions and properties in receivership[216] - RevPAR increased to $132.04 in the 2025 quarter from $125.30 in the 2024 quarter, reflecting a 5.6% increase[212] - Occupancy rate improved to 67.98% in the 2025 quarter compared to 66.90% in the 2024 quarter[212] - ADR rose to $194.24 in the 2025 quarter from $187.30 in the 2024 quarter, marking a 3.1% increase[212] - The company anticipates a 5% growth in occupancy rates for the next quarter, supported by ongoing marketing efforts[281] Expenses and Cost Management - Hotel operating expenses decreased by $22.4 million, or 10.6%, to $188.5 million in the 2025 quarter compared to the 2024 quarter[219] - Depreciation and amortization expenses decreased by $3.2 million, or 7.9%, to $37.3 million in the 2025 quarter[222] - Property taxes, insurance, and other expenses decreased by $1.3 million, or 7.6%, to $16.0 million in the 2025 quarter[221] - Corporate, general and administrative expense decreased by $3.9 million, or 47.6%, to $4.3 million in the 2025 quarter compared to the 2024 quarter[225] Financing and Capital Structure - The company has the authority to issue up to 450,000,000 shares of capital stock, including 395,000,000 shares of common stock and 55,000,000 shares of preferred stock[195] - The company closed on a $580 million refinancing secured by 16 hotels, replacing previous loans with a combined outstanding balance of approximately $438.7 million[253] - The company extended its Morgan Stanley Pool mortgage loan secured by 17 hotels, with a current balance of $409.8 million, to March 2026[256] - The company has a total indebtedness of $2.7 billion, with $2.6 billion being variable-rate debt[285] - A 25-basis point change in interest rates on the variable-rate debt would impact the company's results by approximately $6.5 million per year[285] Strategic Initiatives and Future Outlook - The company is focused on acquiring hotel properties that are expected to be accretive to its portfolio and is pursuing capital market activities to enhance long-term stockholder value[187] - The company is committed to pursuing hotel-related investments as suitable situations arise, with no formal commitment to invest in additional assets[248] - The company is exploring strategic acquisitions to bolster its market position, with a goal of increasing its market share by 15%[281] - The company is committed to sustainability initiatives, targeting a 30% reduction in energy consumption across its properties by 2025[281] - The company has invested in new technology to enhance customer experience, aiming for a 20% increase in customer satisfaction ratings[281] Cash Flow and Liquidity - Cash and cash equivalents as of March 31, 2025, totaled $85.8 million, with restricted cash of $139.2 million[238] - Net cash flows used in operating activities were $25.0 million for the three months ended March 31, 2025, compared to $46.5 million for the same period in 2024[261] - Net cash flows provided by investing activities were $99.5 million for the three months ended March 31, 2025, primarily from the disposition of the Courtyard Boston[262] - Net cash flows used in financing activities were $70.0 million for the three months ended March 31, 2025, with significant repayments of indebtedness totaling $523.5 million[264] Market Risk and Interest Rate Sensitivity - The analysis of market risk includes sensitivity to changes in interest rates on borrowings under debt instruments[284] - The information presented regarding market risk has limited predictive value due to potential future exposures[286] - Interest rate changes have no impact on the remaining $88.8 million of fixed-rate debt[285] - The company has various interest rate caps in place to limit exposure to interest rate fluctuations[285]
Akari Therapeutics(AKTX) - 2025 Q1 - Quarterly Report
2025-05-14 20:51
Financial Performance - Loss from operations for Q1 2025 totaled $3.5 million, a 41% decrease from $6.0 million in Q1 2024[140] - Total operating expenses for Q1 2025 were $3.525 million, down 41% from $5.989 million in Q1 2024[140] - Net loss applicable to common shareholders for the three months ended March 31, 2025, was $3.7 million, an improvement from a net loss of $5.6 million in the same period of 2024[159] - The company has substantial doubt regarding its ability to continue as a going concern within one year after the issuance of its financial statements due to recurring losses and the need for additional capital[178] Research and Development - Research and development expenses decreased by approximately $1.5 million, or 64%, from $2.279 million in Q1 2024 to $813,000 in Q1 2025[142] - HSCT-TMA clinical development expenses dropped by $571,000, or 90%, from $633,000 in Q1 2024 to $62,000 in Q1 2025 due to program suspension[143] - ADC preclinical development expenses increased by $17,000, marking a 100% increase from $0 in Q1 2024[142] - Future research and development expenditures will depend on future funding availability[149] - The company has not commercialized any products and expects substantial operating losses to continue for the foreseeable future due to ongoing research and development efforts[161] Funding and Capital - The March 2025 private placement raised approximately $6.0 million in net proceeds, with $4.0 million received in April 2025[133] - The company entered into a private placement in November 2024, raising approximately $3.2 million through the sale of 1,713,402 ADSs at a price of $2.26 per ADS[165] - In May 2024, the company raised approximately $7.0 million from a private placement involving 4,029,754 ADSs at a price of $1.885 per ADS[167] - The company is currently seeking additional funding through equity and/or debt securities to support its operations and obligations[172] Cash Flow and Expenses - For the three months ended March 31, 2025, net cash used in operating activities was $(2,150) thousand, a decrease from $(4,044) thousand for the same period in 2024[180] - Net cash provided by financing activities for the three months ended March 31, 2025, was $2,133 thousand, compared to $1,514 thousand in 2024[180] - The net change in cash for the three months ended March 31, 2025, was $(17) thousand, compared to $(2,535) thousand in 2024[180] - The decrease in cash used in operating activities was primarily due to deferrals of payables to preserve cash until additional capital is raised[180] Workforce and Restructuring - A reduction-in-force of approximately 67% of the workforce was implemented in May 2024 as part of an operational restructuring plan[136] Other Financial Information - As of March 31, 2025, the company had $2.6 million in cash and an accumulated deficit of $251.0 million, with no revenue generated to date[160] - The company recorded a non-cash revaluation loss of less than $0.1 million on warrant liabilities for the three months ended March 31, 2025, compared to a gain of $0.6 million in the same period of 2024[156] - The company incurred a total of $204,000 in placement agent fees related to the November 2024 private placement, with net proceeds of approximately $2.8 million after expenses[166] - As of March 31, 2025, principal payments expected from debt obligations assumed during the Merger amount to approximately $1.6 million[183] - The company entered into a short-term financing arrangement in January 2025, financing insurance premiums totaling $0.5 million[182] - There were no investing activities reported for the three months ended March 31, 2025 and 2024[181] - The company has not reported any material changes to its critical accounting policies and estimates since December 31, 2024[187] - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[188]
Precipio(PRPO) - 2025 Q1 - Quarterly Report
2025-05-14 20:50
OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents 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, 2025 incorporation or organization) Identification No.) 4 Science Park, New Haven, CT 06511 (Address of principal executive offices) (Zip Code) (State or other jurisdiction of ...
Aardvark Therapeutics Inc(AARD) - 2025 Q1 - Quarterly Report
2025-05-14 20:50
Financial Performance - The company has incurred significant net losses, with an accumulated deficit of $67.6 million as of March 31, 2025, and net losses of $9.3 million and $2.2 million for the three months ended March 31, 2025, and 2024, respectively [103]. - The total operating expenses for the three months ended March 31, 2025, were $10.5 million, compared to $2.2 million in 2024, resulting in a loss from operations of $10.5 million [125]. - The company reported a net loss of $9.3 million in Q1 2025, compared to a net loss of $2.2 million in Q1 2024 [138]. - The accumulated deficit as of March 31, 2025, was $67.6 million, with expectations of continued losses for the foreseeable future [133]. Funding and Capital - The company completed its IPO in February 2025, raising approximately $87.5 million from the sale of 6,120,661 shares at an IPO price of $16.00 per share [104]. - The company raised a total of $129.1 million in gross proceeds from the sale of convertible preferred stock prior to its IPO in February 2025, which generated net proceeds of $87.5 million from the sale of 6,120,661 shares at an IPO price of $16.00 per share [130]. - Net cash provided by financing activities was $88.9 million in Q1 2025, primarily from proceeds of $91.1 million from the IPO [140]. Cash and Investments - As of March 31, 2025, the company had cash, cash equivalents, and short-term investments totaling $151.3 million, which is expected to fund operations into 2027 [104]. - The company had cash, cash equivalents, and short-term investments of $151.3 million as of March 31, 2025, which is expected to fund operations into 2027 [131]. - Net cash used in operating activities increased to $11.4 million for Q1 2025 from $2.2 million in Q1 2024, primarily due to a reported net loss of $9.3 million [138]. - Net cash used in investing activities was $112.6 million in Q1 2025, mainly due to the purchase of short-term investments [139]. Research and Development - The company has no products approved for sale and does not expect to generate revenue until regulatory approval is obtained for its product candidates [105]. - The lead product candidate, ARD-101, is currently in a Phase 3 clinical trial for hyperphagia associated with Prader-Willi Syndrome, with topline data anticipated in early 2026 [96]. - The company has focused on developing small-molecule therapeutics targeting Bitter Taste Receptors (TAS2Rs) to alleviate hunger, with ongoing research into additional product candidates [96]. - The company plans to continue its development of ARD-101 and other candidates, conduct ongoing clinical trials, and expand its clinical management and regulatory capabilities [107]. - Research and development (R&D) expenses for the three months ended March 31, 2025, were $7.8 million, a $6.5 million increase from $1.2 million in the same period of 2024, primarily due to increased external costs related to ARD-101 [126]. - The company anticipates substantial increases in R&D expenses as it continues ongoing R&D activities and clinical trials for its product candidates [116]. Operational Strategy - The company relies on third parties for the manufacture of its product candidates and plans to maintain this strategy to focus on research and development [106]. - The company expects to incur significant commercialization expenses if regulatory approval is obtained for its product candidates [103]. Economic and Market Conditions - Macroeconomic conditions, including inflation and geopolitical conflicts, may negatively impact the company's financial position and growth prospects [110]. - The impact of foreign currency costs on operations has been negligible, with no formal hedging program in place [146]. - Inflation has not had a material effect on the company's results of operations during the periods presented [147]. Future Outlook - Future capital requirements are uncertain and depend on various factors, including the costs and timing of clinical trials and regulatory approvals [134]. - The company does not believe that a hypothetical 100 basis point change in interest rates would have a material impact on its financial statements [145]. - There have been no material changes to contractual obligations and other commitments as of March 31, 2025 [141]. - The company continues to evaluate its critical accounting estimates and policies, with no material changes reported [144].
U.S. GoldMining (USGO) - 2025 Q1 - Quarterly Report
2025-05-14 20:49
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the transition period from _____ to _____ Commission File Number: 001-41690 U.S. GOLDMINING INC. (Exact name of registrant as specified in its charter) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Nevada 37-1792147 (State or other jurisdicti ...
Cellect(QNRX) - 2025 Q1 - Quarterly Results
2025-05-14 20:49
Financial Performance - Quoin reported a net loss of approximately $3.8 million for Q1 2025, compared to a net loss of approximately $2.3 million for the same period in 2024, reflecting an increase in losses of about 65.2% year-over-year[11] - The net loss for the period was $3.81 million, compared to a net loss of $2.32 million in the previous year, indicating an increase in losses of approximately 64.1%[19] - Basic loss per ADS was $6.50, compared to $3.87 for the same period last year, reflecting a significant increase in loss per share[19] - Total revenue for the three months ended March 31, 2025, was $3.95 million, compared to $3.57 million for the same period in 2024, representing a growth of approximately 10.6%[19] - Operating expenses for the period were $3.95 million, with general and administrative expenses at $1.58 million and research and development expenses at $2.37 million[19] - Quoin's total assets decreased from approximately $15.7 million as of December 31, 2024, to approximately $12.96 million as of March 31, 2025[18] - Total liabilities increased from approximately $6.5 million at the end of 2024 to approximately $7.03 million by March 31, 2025[18] - The company reported a significant increase in accumulated deficit, rising to approximately $58.98 million as of March 31, 2025, compared to $55.17 million at the end of 2024[18] - The weighted average number of ADS outstanding was 586,331, compared to 609,094 in the previous year, showing a decrease in outstanding shares[19] Clinical Progress - The company achieved significant clinical progress with QRX003, showing almost complete skin healing and elimination of pruritus in patients, allowing for the discontinuation of multiple prior medications[2] - The interim results from the pediatric Investigator Study indicated improvement from "Severe" to "Mild" on the Investigator's Global Assessment after six weeks of treatment[4] - A newly FDA-cleared study will evaluate whole-body application of QRX003 in up to 12 patients, aiming to generate extensive clinical data for Netherton Syndrome[12] Intellectual Property and Initiatives - Quoin expanded its patent portfolio with new filings for novel formulations targeting several rare skin diseases, potentially extending intellectual property protection through 2045[9] - The company launched the NETHERTON NOW awareness initiative to support and engage with the Netherton community and advocacy groups[6] Cash and Financial Outlook - As of March 31, 2025, Quoin had approximately $11.6 million in cash, cash equivalents, and marketable securities, which is expected to support operations into Q1 2026[10]
OneMedNet (ONMD) - 2025 Q1 - Quarterly Report
2025-05-14 20:47
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, 2025 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 001-40386 ONEMEDNET CORPORATION (Exact name of Registrant as specified in its Charter) Delaware 86-2076743 (State or other jurisdict ...
DATA KNIGHTS ACQUISITION(DKDCA) - 2025 Q1 - Quarterly Report
2025-05-14 20:47
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Delaware 86-2076743 (State or other jurisdiction of incorporation or organization) 6385 Old Shady Oak Road, Suite 250 Eden Prairie, Minnesota 55344 (Address of principal executive offices) (Zip Code) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...
Richtech Robotics (RR) - 2025 Q2 - Quarterly Report
2025-05-14 20:46
Financial Performance - Revenue for the six months ended March 31, 2025, was $2,424,000, a 6.7% increase from $2,272,000 in the same period of 2024[17] - Gross profit for the three months ended March 31, 2025, was $713,000, compared to $680,000 for the same period in 2024, reflecting a growth of 4.9%[17] - The net loss attributable to the company for the six months ended March 31, 2025, was $8,088,000, compared to a loss of $3,868,000 in the same period of 2024, representing a 109% increase in losses[17] - For the six months ended March 31, 2025, the net loss was $8,126 thousand, compared to a net loss of $3,868 thousand for the same period in 2024, representing a 110% increase in losses[23] - Basic and diluted net loss per share of common stock was $0.08 for the six months ended March 31, 2025, compared to $0.06 for the same period in 2024[17] - The company reported a consolidated net loss of $8,126 thousand for the six months ended March 31, 2025, compared to a net loss of $3,868 thousand for the same period in 2024[75] Operating Expenses - Operating expenses surged to $10,684,000 for the six months ended March 31, 2025, compared to $4,498,000 in the prior year, indicating a significant increase of 137%[17] - General and administrative expenses increased by $6,801 thousand, or approximately 275.9%, to $9,265 thousand for the six months ended March 31, 2025, compared to $2,464 thousand for the same period in 2024[93] - Research and development expenses for the six months ended March 31, 2025, were $804,000, down 35.6% from $1,247,000 in the same period of 2024[17] Cash Flow and Assets - Cash and cash equivalents decreased to $11,126,000 as of March 31, 2025, down from $14,566,000 on September 30, 2024, a decline of 23%[15] - Cash provided by operating activities was negative $8,076 thousand for the six months ended March 31, 2025, compared to negative $2,540 thousand for the same period in 2024[23] - The company reported cash, cash equivalents, and restricted cash of $11,126 thousand at the end of the period, down from $14,566 thousand at the beginning of the period[23] - As of March 31, 2025, cash and cash equivalents totaled $11.1 million, a decrease of approximately $3.5 million from $14.6 million at the end of the prior fiscal year[104] Investments and Financing - The company raised $19,792 thousand from the issuance of ordinary shares during the financing activities for the six months ended March 31, 2025[23] - Net cash provided by financing activities totaled $19,766 thousand for the six months ended March 31, 2025, compared to $10,339 thousand for the same period in 2024[110] - The company generated gross proceeds of approximately $3,644,726 from the exercise of warrants for 2,699,797 shares of Class B common stock in February 2025[45] Assets and Equity - Total assets increased to $57,179,000 as of March 31, 2025, up from $42,651,000 on September 30, 2024, representing a growth of 34%[15] - Total stockholders' equity increased to $55,859,000 as of March 31, 2025, from $41,738,000 on September 30, 2024, marking a growth of 33.8%[15] - The allowance for credit losses decreased to $103 thousand as of March 31, 2025, from $197 thousand as of September 30, 2024, indicating improved credit risk management[37] Revenue Streams - For the six months ended March 31, 2025, product revenue increased by $744 thousand, or approximately 111.0%, to $1,414 thousand, compared to $670 thousand in 2024[88] - Service/Rental revenue decreased significantly, reflecting the ongoing strategic shift towards the RaaS model[83] - Leasing revenue showed a notable increase over the six-month period, demonstrating the growing adoption of the RaaS model[83] Strategic Initiatives - The company has implemented robotic solutions in over 80 cities across the United States, addressing labor shortages in various service sectors[26] - The company aims to be a long-term partner to clients by providing a range of robotic solutions to enhance operational efficiency[26] - The company signed a Master Services Agreement (MSA) in April 2025 with a car retailer group with over 150 locations, marking a significant milestone in the expansion of its Robotics-as-a-Service (RaaS) strategy[70] - A new joint venture named Boyu Artificial Intelligence (Beijing) Technology Co., Ltd. was established in December 2024, focusing on the Asian market for service robots[65] Compliance and Reporting - The registrant filed various certifications in accordance with the Sarbanes-Oxley Act of 2002, including those from the Principal Executive Officer and Principal Financial Officer[31.1][31.2][32.1][32.2] - The report includes Inline XBRL Instance Document and Taxonomy Extension Documents for enhanced data presentation and analysis[101.INS][101.SCH][101.CAL][101.DEF][101.LAB][101.PRE] - The report was signed by the Chief Executive Officer and Chief Financial Officer on May 14, 2025, indicating compliance with regulatory requirements[130][131]
Edesa Biotech(EDSA) - 2025 Q2 - Quarterly Report
2025-05-14 20:46
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, 2025 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: 001-37619 EDESA BIOTECH, INC. (Exact name of registrant as specified in its charter) British Columbia, Canada N/A (State or other jurisdiction ...