$KLTO
Klotho Neurosciences, Inc.

2024 Q4 Form 10-Q Financial Statement

#000121390024100218 Filed on November 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $324.9K
YoY Change 35.64%
% of Gross Profit
Research & Development $0.00
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.871M $324.9K
YoY Change 882.42% 35.64%
Operating Profit -$2.871M
YoY Change 882.43%
Interest Expense $509.9K
YoY Change -54.43%
% of Operating Profit
Other Income/Expense, Net -$88.49K $15.90K
YoY Change 734.85%
Pretax Income -$2.959M $200.9K
YoY Change -774.13% -77.15%
Income Tax $112.0K
% Of Pretax Income 55.75%
Net Earnings -$2.959M $88.92K
YoY Change -1119.98% -87.58%
Net Earnings / Revenue
Basic Earnings Per Share -$0.18
Diluted Earnings Per Share -$0.18 $0.01
COMMON SHARES
Basic Shares Outstanding 21.26M shares 17.23M shares 8.802M shares
Diluted Shares Outstanding 16.69M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $172.5K
YoY Change -49.4%
Cash & Equivalents $50.90K $172.5K
Short-Term Investments
Other Short-Term Assets $27.00K
YoY Change -72.78%
Inventory
Prepaid Expenses $103.8K $27.00K
Receivables
Other Receivables
Total Short-Term Assets $154.6K $199.5K
YoY Change -24.12% -54.67%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $2.310M $2.186M
YoY Change
Long-Term Investments $19.26M
YoY Change -83.65%
Other Assets $2.186M
YoY Change
Total Long-Term Assets $2.310M $19.26M
YoY Change -96.01% -83.65%
TOTAL ASSETS
Total Short-Term Assets $154.6K $199.5K
Total Long-Term Assets $2.310M $19.26M
Total Assets $2.464M $19.46M
YoY Change -95.75% -83.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $271.1K $151.3K
YoY Change
Accrued Expenses $560.3K $1.497M
YoY Change 71.01% 966.13%
Deferred Revenue
YoY Change
Short-Term Debt $65.00K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $982.4K $2.313M
YoY Change -40.96% 356.91%
LONG-TERM LIABILITIES
Long-Term Debt $1.540M
YoY Change
Other Long-Term Liabilities $4.371M
YoY Change 0.61%
Total Long-Term Liabilities $5.911M
YoY Change 36.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $982.4K $2.313M
Total Long-Term Liabilities $5.911M
Total Liabilities $1.004M $8.242M
YoY Change -86.14% 67.19%
SHAREHOLDERS EQUITY
Retained Earnings -$8.500M -$7.351M
YoY Change 32.07% 81.73%
Common Stock $1.986K $340.00
YoY Change 484.12% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.461M $11.21M
YoY Change
Total Liabilities & Shareholders Equity $2.464M $19.46M
YoY Change -95.75% -83.55%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income -$2.959M $88.92K
YoY Change -1119.98% -87.58%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$248.8K
YoY Change 239.98%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $39.07M
YoY Change
Cash From Investing Activities $39.07M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.79M
YoY Change
NET CHANGE
Cash From Operating Activities -248.8K
Cash From Investing Activities 39.07M
Cash From Financing Activities -38.79M
Net Change In Cash 26.20K
YoY Change -135.8%
FREE CASH FLOW
Cash From Operating Activities -$248.8K
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; "><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Use of Estimates</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Concentration of Credit Risk</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. As of September 30, 2024, the Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; "><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p>
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
21200 usd
klto Percentage Of Carrying Value Of Intangible Assets
PercentageOfCarryingValueOfIntangibleAssets
0.50 pure
us-gaap Net Income Loss
NetIncomeLoss
-4083109 usd
us-gaap Net Income Loss
NetIncomeLoss
-580983 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16588940 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15130393 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16588940 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15130393 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12030000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12030000 shares
CY2024Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1990366 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000 usd
CY2024Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
21200 usd
us-gaap Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
0.04
klto Warrants Redemption Trigger Price
WarrantsRedemptionTriggerPrice
5.01
CY2024Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-41022 usd
CY2024Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
103750 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3840 usd
CY2024Q3 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
48420 usd
CY2023Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
48420 usd
CY2024Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2309554 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2186058 usd
CY2024Q4 us-gaap Fee Income
FeeIncome
50000 eur
CY2024Q4 us-gaap Fee Income
FeeIncome
56325 usd
CY2024Q4 klto Payment Of Signing The Agreement
PaymentOfSigningTheAgreement
100000 eur
CY2024Q4 klto Payment Of Signing The Agreement
PaymentOfSigningTheAgreement
-112650 usd
CY2024Q4 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
1000000 eur
CY2024Q4 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
1126500 usd
CY2024Q4 klto Royalty Percentage
RoyaltyPercentage
0.02 pure
CY2023Q1 us-gaap Fee Income
FeeIncome
10000 usd
CY2023Q1 us-gaap Payment For Management Fee
PaymentForManagementFee
50000 usd
us-gaap Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
10000 usd
CY2022Q3 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
1308270 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1308270 usd
CY2023 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1308270 usd
CY2023Q4 us-gaap Royalty Expense
RoyaltyExpense
26060 usd
us-gaap Royalty Expense
RoyaltyExpense
26060 usd
CY2024Q3 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
48420 usd
CY2023Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
48420 usd
CY2022Q4 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
10000 eur
CY2022Q4 klto Royalty Percentage
RoyaltyPercentage
0.03 pure
CY2024Q3 us-gaap Other Liabilities
OtherLiabilities
0 usd
CY2023Q3 us-gaap Other Liabilities
OtherLiabilities
0 usd
CY2024Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
831428 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
153719 usd
CY2023Q4 klto Non Interest Bearing Related Party Debt
NonInterest-BearingRelatedPartyDebt
135000 usd
CY2023Q4 us-gaap Interest And Fee Income Other Loans
InterestAndFeeIncomeOtherLoans
2460 usd
CY2022Q3 us-gaap Notes Payable Current
NotesPayableCurrent
1308270 usd
klto Unpaid Principal Balance
UnpaidPrincipalBalance
0 usd
CY2023 klto Unpaid Principal Balance
UnpaidPrincipalBalance
1308270 usd
CY2024Q1 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
2000000 usd
CY2024Q1 klto Aggregate Shares
AggregateShares
750000 shares
CY2024Q1 klto Transaction Cost
TransactionCost
1950000 usd
CY2024Q1 us-gaap Cash
Cash
181339 usd
CY2024Q2 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
2000000 usd
CY2024Q2 klto Aggregate Shares
AggregateShares
900000 shares
CY2024Q2 klto Transaction Cost
TransactionCost
1950000 usd
CY2021Q4 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5000000 usd
CY2023 klto Earned Amount
EarnedAmount
240000 usd
CY2022 klto Earned Amount
EarnedAmount
240000 usd
CY2024Q3 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
0 usd
CY2023Q4 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
80000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
300000 usd
CY2022 us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
50000 usd
CY2023Q1 us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
250000 usd
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
0 usd
CY2023 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
0 usd
us-gaap Interest And Fee Income Other Loans
InterestAndFeeIncomeOtherLoans
2460 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
20000 usd
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0 usd
CY2024Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
151000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
159000 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3144000 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.94
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1952851 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1990366 usd
CY2014Q4 klto License Agreement Renewal Option
LicenseAgreementRenewalOption
P10Y
CY2014Q4 us-gaap Collateralized Agreements
CollateralizedAgreements
100000 usd
CY2014Q4 klto Percentage Of Royalty Payments On Sale Of Finished Goods
PercentageOfRoyaltyPaymentsOnSaleOfFinishedGoods
0.05 pure
CY2024Q2 us-gaap Investment Banking Advisory Brokerage And Underwriting Fees And Commissions
InvestmentBankingAdvisoryBrokerageAndUnderwritingFeesAndCommissions
3000000 usd
CY2024Q2 us-gaap Legal Fees
LegalFees
0 usd
CY2024Q2 klto Deferred Underwriting Fees
DeferredUnderwritingFees
0 usd
CY2024Q2 us-gaap Contractual Obligation
ContractualObligation
0 usd
CY2024Q3 us-gaap Contractual Obligation
ContractualObligation
0 usd
CY2024Q3 klto Contract Reset Price Per Share
ContractResetPricePerShare
2
klto Exercise Price Of Options Period
ExercisePriceOfOptionsPeriod
P3Y
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Insider Trd Policies Proc Adopted Flag
InsiderTrdPoliciesProcAdoptedFlag
true
CY2024Q3 us-gaap Notes Payable Current
NotesPayableCurrent
usd
CY2023Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
usd
CY2024Q3 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q4 us-gaap Common Unit Issuance Value
CommonUnitIssuanceValue
usd
CY2023Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
klto Commitment Fee
CommitmentFee
usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
usd
klto Payments To Acquire Of Patents
PaymentsToAcquireOfPatents
usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
usd
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
usd
klto Repayment Of Advance To Shareholder
RepaymentOfAdvanceToShareholder
usd
us-gaap Notes Issued1
NotesIssued1
usd
us-gaap Stock Issued1
StockIssued1
usd
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
usd
klto Noncash Pipe Funds Used For Merger Transaction Close
NoncashPIPEFundsUsedForMergerTransactionClose
usd
klto Commitment Fee Paid In Stocks
CommitmentFeePaidInStocks
usd
klto Assumed Income Tax Payables From Merger
AssumedIncomeTaxPayablesFromMerger
usd
klto Assumed Income Tax Payable
AssumedIncomeTaxPayable
usd
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2023Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001907223

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