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CytoSorbents(CTSO) - 2024 Q4 - Annual Results
2025-01-03 21:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported): January 3, 2025 Securities registered pursuant to Section 12(b) of the Act: CYTOSORBENTS CORPORATION (Exact name of registrant as specified in its charter) Delaware 001-36792 98-0373793 (Commission File Number) (I.R.S. Employer Identification No.) (State or other jurisdiction of incorporation) 3 ...
Integral Ad Science (IAS) - 2024 Q4 - Annual Results
2025-01-03 21:13
CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (date of earliest event reported): January 2, 2025 INTEGRAL AD SCIENCE HOLDING CORP. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Delaware 001-40557 83-0731995 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 12 E 49th Street, 20th Floor New York, NY 10017 (Addre ...
Titan Pharmaceuticals(TTNP) - 2024 Q3 - Quarterly Report
2025-01-03 21:05
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 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 001-13341 Titan Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) | Delaware | 94-3171940 | | --- | --- | | (State or other jurisdiction ...
Sabine Royalty Trust(SBR) - 2024 Q4 - Annual Results
2025-01-03 17:13
Sabine Royalty Trust Exhibit 99.1 SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR JANUARY 2025 News Release | | Net to Trust Sales | | | | | --- | --- | --- | --- | --- | | | Volumes (a) | | | Average Price (a) | | | | | Oil | Gas | | | Oil (bbls) | Gas (Mcf) | (per bbl) | (per Mcf) | | Current Month | 76,247 | 1,617,815 | $67.70 | $1.61 | | Prior Month | 68,183 | 1,536,640 | $71.76 | $1.39 | (a) Sales volumes are recorded in the month the Trust receives and identifies the related royalty incom ...
Taylor Devices(TAYD) - 2025 Q2 - Quarterly Report
2025-01-03 12:45
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 November 30, 2024 ☐ 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: 0-3498 Taylor Devices, Inc. (Exact name of registrant as specified in its charter) | New York | 16-0797789 | | --- | --- | | (State ...
Resources nection(RGP) - 2025 Q2 - Quarterly Report
2025-01-02 22:26
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ____________________________________________________________________________________________ FORM 10-Q ____________________________________________________________________________________________ (Mark One) xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 23, 2024 OR oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ...
Landec(LFCR) - 2025 Q2 - Quarterly Report
2025-01-02 22:15
Table of Contents 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 Fiscal Quarter Ended November 24, 2024, or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period for _________ to _________. LIFECORE BIOMEDICAL, INC. (Exact name of registrant as specified in its charter) Delaware 94-3025618 (State or other jurisdict ...
Global Mofy(GMM) - 2024 Q4 - Annual Report
2025-01-02 22:10
Corporate Structure and Subsidiaries - Global Mofy Cayman is a holding company incorporated on September 29, 2021, with no significant assets or operations, conducting business in China through Global Mofy China and its subsidiaries[60] - Global Mofy HK, incorporated on October 21, 2021, is a wholly-owned subsidiary of Global Mofy Cayman and acts as a holding company with no active business[61] - Global Mofy Zhejiang WFOE, incorporated on April 3, 2023, is a wholly-owned subsidiary of Global Mofy HK and engages in technology development, technical services, and software development[62] - Global Mofy China, incorporated on November 22, 2017, is an operating subsidiary engaged in technology development, technical services, design, advertisement production, and film screening[63] - Kuyu Intelligent, incorporated on September 3, 2024, is a wholly-owned subsidiary of Global Mofy Zhejiang WFOE and currently not engaging in any active business[64] - Kashi Mofy, incorporated on July 31, 2019, is a wholly-owned subsidiary of Global Mofy China and is one of the operating subsidiaries[65] - Xi'an Mofy, incorporated on June 8, 2018, is a majority-owned subsidiary of Global Mofy China and currently not engaging in any active business[66] - Global Mofy California, incorporated on December 14, 2023, is a wholly-owned subsidiary of Global Mofy China and currently not engaging in any active business[67] - The VIE structure was dissolved on July 8, 2022, making Global Mofy China a wholly-owned subsidiary of Global Mofy WFOE[44] - Global Mofy China dissolved its VIE structure in June 2022 due to changes in business scope and regulatory concerns, transitioning to a direct parent-subsidiary structure[70] - Global Mofy's corporate structure includes subsidiaries such as Global Mofy HK Limited, Global Mofy Zhejiang WFOE, and Xi'an Mofy, with varying ownership percentages and business activities[225][226][228] - Global Mofy China's corporate structure includes 12 subsidiaries, with key entities like Global Mofy HK Limited and GMM Discovery LLC incorporated in Hong Kong SAR and Delaware respectively[116] Financial Performance and Risks - Revenue for the year ended September 30, 2024 was $41.36 million, with 51% from virtual technology services and 49% from digital assets development and others[142] - Revenue from digital assets development and others grew from $4.02 million in 2022 to $20.5 million in 2024, representing 49% of total revenue[156] - One customer accounted for 13% of total revenue in 2024, while two customers accounted for 20% and 17% of total revenue in 2022[159] - The company expanded into digital asset development in 2021 and entered the metaverse industry, with revenue from this business line reaching $20.5 million in 2024[156] - The company has a history of net losses and negative cash flows from operating activities, which may continue in the future[157] - The company faces risks related to the metaverse and digital entertainment industry, including market conditions, customer preferences, and potential regulations[169] - The company may face challenges in maintaining and growing its digital asset base and operating margins[163] - The company's business is subject to risks from natural disasters, political crises, and public health crises, such as the COVID-19 pandemic[148] - The company may face difficulties in complying with Section 404 of the Sarbanes-Oxley Act, which could lead to material misstatements in financial statements[172] - The COVID-19 outbreak has severely impacted global economies, leading to reduced tourist arrivals, business exchanges, and economic slowdowns, with global financial markets experiencing high volatility[173] - The company's Class A Ordinary Shares have declined significantly, risking delisting from Nasdaq, which could discourage U.S. broker-dealers from trading the shares due to penny stock rules[175][176] - The company's dual-class share structure concentrates voting control with the CEO and Chairman of the Board and their affiliates[174] - The company remains an "emerging growth company" until it exceeds $1.235 billion in annual gross revenues, becomes a "large accelerated filer," or issues more than $1.0 billion in nonconvertible debt[184] - The company's future success depends on the market acceptance and widespread adoption of the metaverse, with potential risks from PRC government regulations against the industry[199] - The company is exposed to risks from epidemics and infectious diseases, such as COVID-19, which could materially and adversely affect its business[205] - The company's Class A Ordinary Shares are subject to high volatility, which could result in substantial losses for investors and affect the company's ability to retain key employees[177][181] - The company may face challenges in raising additional capital due to unpredictable capital markets, which could limit its ability to fund operations and respond to competitive pressures[203] - The company has identified material weaknesses in its internal control over financial reporting, which could result in inaccuracies in financial statements and hinder fraud prevention[204] - The company does not expect to pay cash dividends to shareholders in the foreseeable future[215] Regulatory and Compliance - PRC regulations permit the payment of dividends only out of accumulated profits, as determined in accordance with Chinese accounting standards and regulations[50] - Global Mofy acquired domestic operating entities using a "two-step slow-walk" method, avoiding Ministry of Commerce approval, but risks remain if the method is deemed invalid retroactively[69] - PRC subsidiaries are required to set aside 10% of net income after taxes as statutory surplus reserves until reserves reach 50% of registered capital[85] - No dividends, distributions, or transfers have been made between Global Mofy Cayman and its subsidiaries as of the report date[86] - PRC subsidiaries can transfer funds internally under the Provisions on Private Lending Cases, but no cash has been transferred to the holding company or US investors[74] - Global Mofy's auditor, YCM CPA INC., is based in the US and subject to PCAOB inspections, ensuring compliance with US regulatory standards[88] - PRC subsidiaries have obtained all necessary business licenses and permissions required for operations in China[89] - The Holding Foreign Companies Accountable Act (HFCAA) could impact Global Mofy if future regulatory changes impose stricter criteria on non-US auditors[78] - The company's operations in China are subject to foreign exchange regulations, including the need for approval or registration for capital account transactions such as direct investments and repatriation of profits[94] - In 2012, SAFE simplified foreign exchange procedures, allowing foreign-invested enterprises to open multiple capital accounts and remit profits without prior approval[95] - Circular 19 and Circular 16 allow foreign-invested enterprises to use foreign exchange funds for current and capital account expenditures within their business scope, with certain restrictions[96] - PRC residents or entities must register with qualified banks for foreign exchange matters related to offshore investment and financing through special purpose vehicles (SPVs)[97] - Failure to comply with foreign exchange registration requirements may result in restrictions on dividend payments and capital inflows, as well as penalties[99] - FIEs in China can only distribute dividends from retained earnings and must set aside at least 10% of after-tax profits as statutory reserve funds until reaching 50% of registered capital[100] - The company's operations are in compliance with PRC labor laws, including the requirement to execute written employment contracts and contribute to social insurance and housing provident funds[111] - Employers failing to pay social insurance on time may face fines of 0.05% of unpaid amounts per day, escalating to 1-3 times the unpaid sum if not rectified within the prescribed time limit[112] - The company's subsidiaries and operations are structured in compliance with PRC regulations, including those governing foreign-invested enterprises[110][114] - The company is subject to cybersecurity review requirements if it controls more than one million users' personal information and seeks to list in a foreign country[144] - The company's compliance with U.S. securities regulations, including the Sarbanes-Oxley Act and the Exchange Act, will increase legal, accounting, and financial compliance costs, particularly after it is no longer an "emerging growth company"[220] - The company's corporate governance is governed by Cayman Islands law, which may provide less protection for shareholders compared to U.S. statutes or judicial precedents[223] Intellectual Property and Technology - Global Mofy China holds 5 registered trademarks, 1 registered domain name, and 45 registered copyrights, while Xi'an Mofy and Zhejiang Mofy hold 5 and 9 copyrights respectively[120] - The company plans to register its 3D digital assets using part of the IPO proceeds, as these assets are currently protected under PRC copyright laws but not formally registered[121] - Global Mofy China has registered 14 copyrighted works, including "Wu Gen Zhi Guo" and "Barlow Rabbit," with completion dates ranging from 2018 to 2021[126] - The company has developed 13 software systems, including the Global Mofy Maya Assets Batch Importing Plug-in System and the Global Mofy AI Visual Effect Platform, all registered under copyright[128] - The company's intellectual property strategy relies on trademarks, patents, know-how, and confidentiality agreements with employees, customers, and suppliers to maintain technological advantages[119] - Global Mofy China does not rely on third-party intellectual property rights for its business operations, emphasizing self-developed assets and technologies[120] - Global Mofy's digital asset bank contains over 100,000 high-precision 3D digital assets with 4K (4096*2160) resolution[135] - The company operates in two main business lines: virtual technology services and digital asset development, with plans to cease the digital marketing line[135] - Global Mofy's proprietary "Mofy Lab" platform utilizes 3D rebuilt technology and AI interactive technology to create high-definition virtual content[140] - The company has developed the Gausspeed platform, leveraging NVIDIA Omniverse and RTX GPUs for generative AI solutions[135] - Virtual technology service contracts are primarily fixed-price, milestone-based, covering visual effect design, content development, and production[137] - Digital assets are licensed for use in applications such as movies, TV series, AR/VR, animation, advertising, and gaming[138] - The company plans to expand its digital asset bank and develop more products to serve the growing digital content market[139] - Global Mofy has registered multiple software systems, including Virtual Asset Identification and Analysis Software (V1.0) and Virtual Asset Conversion Software (V1.0)[129] - The company has developed real-time rendering efficiency enhancement software (V1.0) and automated image perspective correction tools (V1.0)[131] - Global Mofy owns the domain name globalmofy.cn, registered under Global Mofy (Beijing) Technology Co., Limited[132] - Global Mofy China's registered trademarks include "Mo Fei Shi Xiao," "Mo Fei Ying Ye," and "GAUSSPEED Gao Si Guang Nian," with application dates ranging from 2021 to 2024[123] Financial Reporting and Accounting - The company prepares its consolidated financial statements as of and for the year ended September 30, 2021, in accordance with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) as issued by the International Accounting Standards Board (IASB) and adopted by the European Union[216] - The company may take advantage of the extended transition period for adopting new or revised accounting standards under the JOBS Act if it converts to U.S. GAAP while still an "emerging growth company"[216] - The company is exempt from including an attestation report on internal control over financial reporting issued by its independent registered public accounting firm while it remains an "emerging growth company"[217] - The company is not subject to U.S. proxy rules and its officers, directors, and principal shareholders are exempt from Section 16 reporting and "short-swing" profit recovery provisions under the Exchange Act[218] - The company issued a total of 827,589 ordinary shares upon the exercise of new warrants through Alternative Cashless Exercise on July 5 and July 10, 2024, resulting in the retirement of all new warrants[234] - The company established a VIE structure through agreements with Global Mofy China and its shareholders, consolidating Global Mofy China and its subsidiaries in its financial statements under U.S. GAAP[229] - The company may be classified as a passive foreign investment company (PFIC), which could result in adverse U.S. federal income tax consequences for U.S. investors holding its Class A Ordinary Shares or warrants[221][222] Real Estate and Assets - Global Mofy China's office in Beijing covers an area of 1,962.14 square meters, leased for three years starting September 18, 2023, with a monthly rent of RMB 266,360 (approximately US$36,675)[118]
Resources nection(RGP) - 2025 Q2 - Quarterly Results
2025-01-02 21:17
Resources Connection Reports Financial Results for Second Quarter Fiscal 2025 DALLAS, Texas, January 2, 2025 – Resources Connection, Inc. (Nasdaq: RGP) (the "Company"), a professional services firm, today announced its financial results for its second quarter of fiscal 2025 ended November 23, 2024. Second Quarter Fiscal 2025 Highlights Compared to Prior Year Quarter: Management Commentary • Revenue of $145.6 million compared to $163.1 million, a decline of 10.7% • Same-day constant currency revenue, a non-G ...
Landec(LFCR) - 2025 Q2 - Quarterly Results
2025-01-02 21:15
Lifecore Biomedical Reports Second Quarter Fiscal 2025 Financial Results and Provides Corporate Update Exhibit 99.1 -- Recorded Revenues of $32.6 Million for Q2 Fiscal 2025 -- -- Signed Multiple Development Agreements with New Customers -- -- Strengthened Balance Sheet with Financing Raising Approximately $24.3 Million, and Favorable Restructuring of Credit Facility with BMO -- Conference Call Today at 4:30pm ET CHASKA, Minn., January 2, 2025 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ: LFCR) ("Li ...