Financial Performance - The company incurred substantial losses of $7.2 million and $9.2 million for fiscal years 2024 and 2023, respectively[144] - The company incurred substantial losses of $7,229,491 and $9,196,875 for fiscal years 2024 and 2023, respectively[68] - The company's gross profit was $27,478,204 and $25,685,826 for fiscal years 2024 and 2023, respectively[6] - The company's operating loss was $5,269,745 and $1,511,508 for fiscal years 2024 and 2023, respectively[6] - The company's net loss attributable to Cemtrex, Inc. stockholders was $7,229,491 and $9,196,875 for fiscal years 2024 and 2023, respectively[6] - The company's total operating expenses were $32,747,949 and $27,197,334 for fiscal years 2024 and 2023, respectively[6] - The company's revenues were $66,863,884 and $59,368,562 for fiscal years 2024 and 2023, respectively[6] - The company's cost of revenues was $39,385,680 and $33,682,736 for fiscal years 2024 and 2023, respectively[6] - The company's general and administrative expenses were $28,860,019 and $23,929,340 for fiscal years 2024 and 2023, respectively[6] - Net loss for the year ended September 30, 2024 was $7,635,505, compared to $9,233,438 in the previous year[8] - Comprehensive loss attributable to Cemtrex, Inc. stockholders was $7,356,900 for the year ended September 30, 2024, compared to $8,497,694 in the previous year[8] - Net loss for the year ended September 30, 2024, was $7,635,505, compared to $9,233,438 in 2023[16] - Net loss for 2024 was $(7,635,505), an improvement from $(9,233,438) in 2023[499] - The company's net loss improved to $(7,635,505) in 2024 from $(13,292,242) in 2022[499] - The company incurred net losses of $7.2 million in 2024, $9.2 million in 2023, and $13.0 million in 2022, with an accumulated deficit of $71.4 million as of September 30, 2024[196] Revenue Recognition - Revenue from fixed price contracts is recognized using the percentage-of-completion method[151] - Revenue from time and material price contracts is recognized based on costs incurred and projected markup[152] - The company's contracts generally contain one performance obligation, recognized as revenue over time[153] - Over time revenue recognition increased to 57% in 2024 from 48% in 2023[155] - Point-in-time revenue recognition decreased to 43% in 2024 from 52% in 2023[155] International Operations - International operations accounted for approximately 5.9% of net sales in 2024[140] - Foreign currency translation loss for the year ended September 30, 2024 was $127,409, compared to a gain of $699,181 in the previous year[8] Tax and Warranty Provisions - The company did not take any uncertain tax positions for the years ended September 30, 2024 and 2023[158] - The company may recognize tax benefits from uncertain tax positions only if more likely than not to be sustained[159] - The company provides for estimated costs of product warranties and processes[155] Credit and Inventory Reserves - The company's allowance for credit losses was $155,918 and $234,924 at September 30, 2024, and 2023, respectively[79] - The company's inventory obsolescence reserve was $1,044,530 and $618,021 at September 30, 2024, and 2023, respectively[84] - Inventory obsolescence reserve increased to $1,044,530 as of September 30, 2024, compared to $618,021 in 2023[404] Cash Flow and Financing - Net cash used by operating activities for 2024 was $3,949,360, an improvement from $4,724,305 in 2023[16] - Depreciation and amortization expenses increased to $1,328,741 in 2024 from $1,026,075 in 2023[16] - Goodwill impairment of $530,475 was recorded in 2024, compared to none in 2023[16] - Inventory increased by $1,893,759 in 2024, compared to an increase of $48,598 in 2023[16] - Net cash used by investing activities decreased to $1,257,393 in 2024 from $5,628,400 in 2023[16] - Proceeds from offerings in 2024 amounted to $10,035,292, with expenses of $995,333[16] - Total cash, cash equivalents, and restricted cash decreased to $5,420,392 in 2024 from $6,349,562 in 2023[19] - The company raised $9,039,959 in net proceeds through its May 2024 equity financing[36] - The company anticipates an additional $5 to $10 million when the Series B warrants are exercised[36] - The company raised approximately $9.0 million in net proceeds through May 2024 equity financing and anticipates an additional $5 to $10 million from Series B warrants[193] Stock and Equity - Paid-in additional capital increased to $73,262,536 as of September 30, 2024, up from $68,882,750 in the previous year[11] - Accumulated deficit increased to $71,355,386 as of September 30, 2024, up from $64,125,895 in the previous year[11] - Cemtrex stockholders' equity decreased to $4,710,677 as of September 30, 2024, down from $7,687,614 in the previous year[11] - Noncontrolling interest decreased to $250,165 as of September 30, 2024, down from $656,179 in the previous year[11] - Share-based compensation for the year ended September 30, 2024 was $30,235, compared to $106,839 in the previous year[11][13] - Treasury stock purchases for the year ended September 30, 2024 amounted to $69,705[11] - Shares issued to pay for services during the year ended September 30, 2024 amounted to $169,000[11] - The company completed a 60:1 reverse stock split on October 2, 2024, and a 35:1 reverse stock split on November 26, 2024[23] - The company completed a 60:1 reverse stock split on October 2, 2024, and a 35:1 reverse stock split on November 26, 2024[55] - The company has 1,724,162 shares of common stock outstanding as of December 23, 2024[45] - The company’s common stock had an aggregate market value of $4,249,917 based on the average bid and asked price of $8,799 on March 28, 2024[44] - The company issued 123,167 shares of Series 1 Preferred Stock to pay dividends on October 7, 2024[398] - The company's equity compensation plans had 18 outstanding options with a weighted average exercise price of $105,258.92 as of September 30, 2024[393] Nasdaq Compliance and Delisting - The company received a Nasdaq notification on August 21, 2024, for not meeting the minimum stockholder's equity requirement of $2,500,000[28] - The company may be subject to delisting if it fails to evidence compliance with the stockholders' equity requirement by March 31, 2025[31] - The Company received a Nasdaq notification on July 29, 2022, for failing to meet the minimum bid price requirement of $1.00 for Series 1 Preferred Stock[56] - The Company's Series 1 Preferred Stock was delisted from NASDAQ on January 22, 2024, and is now quoted on OTC Markets under the symbol "CETXP"[57] - The Company received a Nasdaq notification on June 14, 2024, for failing to meet the minimum bid price requirement of $1.00 for common stock[58] - The Company received a Nasdaq notification on August 21, 2024, for failing to meet the minimum stockholder's equity requirement of $2,500,000[59] Corporate Governance - The Company's disclosure controls and procedures were effective as of September 30, 2024[452] - The Board of Directors held four meetings during the fiscal year ended September 30, 2024[469] - The Company is classified as a "Controlled Company" under NASDAQ Listing Rule 5615 and is not required to have a Compensation Committee[481] - Saagar Govil owns 153,153 shares of Series 1 Preferred Stock, representing 1.3% of the voting stock[513] - All directors and executive officers as a group own 203,189 shares, representing 73.1% of the voting stock[513] Related Party Transactions - The company recognized $665,520 of revenue from CXR, Inc. during fiscal year 2024[530] - Trade receivables due from CXR, Inc. amounted to $685,788 as of September 30, 2024[530] - The company's total assets included $456,611 in long-term royalties receivable from CXR, Inc. as of September 30, 2024[530] - The company discounted royalties due to $660,621 and recognized $53,126 in royalties for 2024[529] Segment Performance - Identifiable assets for Security segment decreased to $17,253,328 from $21,829,183[191] - Identifiable assets for Industrial Services segment increased to $24,576,055 from $23,781,349[191] - Total assets decreased to $44,115,458 from $48,453,743[191] Liquidity and Capital Resources - The company has $3,897,511 in cash as of September 30, 2024[36] - The company secured a line of credit for its Vicon brand with available capacity of $1,874,989 as of September 30, 2024[36] - The company’s working capital and current debt indicate substantial doubt regarding its ability to continue as a going concern[36] - The company has approximately $3.9 million in cash as of September 30, 2024[193] - The company secured a line of credit for its Vicon brand with $1.9 million available capacity and a $3.5 million line of credit for its AIS brand as of September 30, 2024[193] - The company’s ability to meet debt obligations depends on financial and operating performance, which is subject to external economic and competitive factors[200] - The company’s ability to secure sufficient credit arrangements is critical for continued operations, with no assurance of obtaining additional equity or debt financing[201] - The company’s substantial debt could adversely affect its ability to raise additional capital and meet obligations[198] - The company’s plans to meet capital demands for the next twelve months may prove inadequate, despite current safeguards[193] Product Development and Market Acceptance - The company’s Vicon brand is introducing new innovative products to grow revenues[36] - The company’s future operating results depend on successful research, development, and marketing of new products and services in the Security segment[210] - The company’s success is heavily dependent on the market acceptance of its technology, which impacts sales, profits, and cash flow[203] Accounting Adjustments - Short-term investments reclassified to Prepaid expenses and other current assets, resulting in a revised amount of $2,112,022[169] - Gain/(loss) on marketable securities reclassified to Prepaid expenses and other current assets, resulting in a revised amount of $(458,476)[169] - Non-cash royalty income correction resulted in a revised Trade receivables - related party amount of $(1,099,070)[171] - Shares issued to pay for services correction resulted in a revised Accounts payable amount of $3,145,469[171] - Trade receivables, net under ASC 326 adoption showed no impact, remaining at $234,924[176] - Contract assets, net increased by $8,696 due to ASC 326 adoption[176] - Royalties receivable, net - related party remained unchanged at $10,000 post ASC 326 adoption[176] Executive Compensation - Total compensation for the PEO in 2024 was $1,089,451, with $702,443 actually paid[499] Share Repurchase Program - The Company repurchased 71,951 shares of Series 1 Preferred Stock for $69,705 under the Share Repurchase Program approved on August 22, 2023[57]

FORM 10-Q For the quarterly period ended September 30, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ITEM 4. MINE SAFETY DISCLOSURES 38 | --- | --- | |---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

● Our entertainment operating segment generates product revenues from the sale of tickets directly to consumers for a particular event that the entertainment operating segment has previously purchased and held in inventory for ultimate resale to the end consumer. Service sales through TicketSmarter, are driven largely in part to the usage of the TicketSmarter.com marketplace by buyers and sellers, in which the Company collects service fees for each transaction completed through this platform. We may discoun ...

KWESST MICRO SYSTEMS INC. KWESST Micro Systems Announces Fiscal 2024 Financial Results OTTAWA, December 30, 2024 - KWESST Micro Systems Inc. (TSXV: KWE and KWE.WT.U; NASDAQ: KWE and KWESW) ("KWESST" or the "Company") is pleased to announce the highlights of its fiscal 2024 year-end results. This announcement is a summary only and should be read in conjunction with KWESST's audited consolidated financial statements, related management discussion and analysis, and Form 20-F Annual Report for the year ended Se ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR Commission file number: 001-42044 10 Times Square, 30Floor New York, New York 10018 (Address of principal executive offices) Title of Each Class: Trading Symbol(s): Name of Each Exchange on Which Registered: Common Stock, par value $0.0001 per share NNE The Nasdaq Stock Market LLC Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indi ...

ITEM 17. FINANCIAL STATEMENTS See Item 18 - Financial Statements. ITEM 18. FINANCIAL STATEMENTS 100 Consolidated Financial Statements of Years ended September 30, 2024, 2023, and 2022 (Expressed in Canadian Dollars) KWESST MICRO SYSTEMS INC. Table of contents for the years ended September 30, 2024, 2023, and 2022 | --- | --- | |------------------------------------------------------------------------------------|---------| | | Page | | Independent Auditor's Report | F-1 | | FINANCIAL STATEMENTS | | | Consoli ...

Financial Performance - Net loss increased to $39.4 million, or ($5.97) per share, for the year ended September 30, 2024, compared to $32.5 million, or ($5.57) per share, in the previous year[1][8] - Net loss for the year ended September 30, 2024, was $(39,425,839), compared to $(32,542,912) in the previous year[30] - Net cash used in operating activities for the year ended September 30, 2024, was $(28,201,375), compared to $(29,060,212) in the previous year[30] - Cash and cash equivalents decreased to $3.3 million as of September 30, 2024, from $26.5 million in the previous year[16] - Cash and cash equivalents of $3.3 million as of September 30, 2024[19][32] Research and Development (R&D) - R&D expenses decreased to $11.9 million in FY 2024 from $14.8 million in FY 2023, primarily due to the completion of the Halo-Lido trial and LYMPHIR regulatory resubmission[7] - R&D expenses decreased to $11.9 million for the full year ended September 30, 2024, from $14.8 million in the previous year[19] - Research and development expenses are expected to decrease in fiscal year 2025 due to the commercialization of LYMPHIR and completion of the Phase 3 trial for Mino-Lok[22] General and Administrative (G&A) Expenses - G&A expenses increased to $18.2 million in FY 2024 from $15.3 million in FY 2023, driven by pre-launch and market research activities for LYMPHIR[12] - G&A expenses increased to $18.2 million for the full year ended September 30, 2024, from $15.3 million in the previous year[19] Stock-Based Compensation - Stock-based compensation expense rose to $11.8 million in FY 2024 from $6.6 million in FY 2023[1] - Stock-based compensation expense increased to $11.8 million for the full year ended September 30, 2024, from $6.6 million in the previous year[23] Product Development and Approvals - Achieved FDA approval for LYMPHIR™, an immunotherapy for relapsed or refractory cutaneous T-cell lymphoma (CTCL)[1] - FDA approved LYMPHIR™ in August 2024 for the treatment of cutaneous T-cell lymphoma[21] - LYMPHIR is expected to launch in the first half of 2025 through Citius Oncology, a majority-owned subsidiary[6] - Met primary and secondary endpoints in the Phase 3 Pivotal Trial of Mino-Lok, showing significant improvement in time to catheter failure[18] - Mino-Lok® met primary and secondary endpoints in its Phase 3 Trial completed in 2023[21] Capital and Equity - The company received net proceeds of $13.8 million from equity issuance in FY 2024 and plans to raise additional capital[3] - The company completed a 1-for-25 reverse stock split on November 25, 2024, resulting in 7,247,243 common shares outstanding[3] - License payment of $5,000,000 was made in the year ended September 30, 2024[30]

§ A manageable safety profile whereby the regimen was well-tolerated with reversible treatment emergent adverse events and no definitive immune-related adverse events greater than or equal to grade 3 documented. Exhibit 99.1 CRANFORD, N.J., December 27, 2024 -- Citius Oncology, Inc. ("Citius Oncology" or the "Company") (Nasdaq: CTOR), a specialty biopharmaceutical company focused on the development and commercialization of novel targeted oncology therapies, today reported business and financial results for ...

CRANFORD, N.J., December 27, 2024 -- Citius Oncology, Inc. ("Citius Oncology" or the "Company") (Nasdaq: CTOR), a specialty biopharmaceutical company focused on the development and commercialization of novel targeted oncology therapies, today reported business and financial results for the fiscal full year ended September 30, 2024. - Began trading on the Nasdaq exchange under the ticker symbol CTOR on August 13, 2024, following completion of the merger of Citius Pharma's oncology subsidiary with TenX Keane ...

Grade II Hemorrhoids prolapse and reduce spontaneously with or without bleeding. Development Activities to Date As part of this Phase 2 trial, information was obtained relating to the use of the GSDS as an assessment tool for measuring the effectiveness of the test articles. Individual signs and symptoms were also assessed but can vary from patient to patient. Therefore, the goal of the GSDS was to provide an assessment tool that could be used for all patients regardless of which signs and symptoms they are ...