2024 Q4 Form 10-K Financial Statement

#000168316824007967 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2024
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $0.00
YoY Change -100.0%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $0.00
YoY Change -100.0%
Operating Profit $14.26M
YoY Change -368.37%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $9.265K
YoY Change -16.82%
Pretax Income
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings -$842.3K
YoY Change -85.77%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.01
COMMON SHARES
Basic Shares Outstanding 96.71M shares 97.06M shares
Diluted Shares Outstanding 97.06M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $2.379K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables $22.63K
Total Short-Term Assets $56.94K
YoY Change -85.97%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $529.2K
YoY Change 960.42%
TOTAL ASSETS
Total Short-Term Assets $56.94K
Total Long-Term Assets $529.2K
Total Assets $586.1K
YoY Change 28.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.276M
YoY Change -29.02%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.920M
YoY Change -10.46%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.920M
Total Long-Term Liabilities
Total Liabilities
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$61.00M
YoY Change 1.51%
Common Stock $96.71K
YoY Change 22.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.334M
YoY Change
Total Liabilities & Shareholders Equity $586.1K
YoY Change 28.6%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2024
OPERATING ACTIVITIES
Net Income -$842.3K
YoY Change -85.77%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.215M
YoY Change -17.6%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $1.000M
YoY Change -10039.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $180.7K
YoY Change -87.53%
NET CHANGE
Cash From Operating Activities -$1.215M
Cash From Investing Activities $1.000M
Cash From Financing Activities $180.7K
Net Change In Cash -$34.49K
YoY Change -3.32%
FREE CASH FLOW
Cash From Operating Activities -$1.215M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2024 ODYY Stock Issued In Exchange For Closing Costs
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StockIssuedInExchangeForClosingCosts
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AccountsPayableAssumedByOragenics
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CY2024 ODYY Increase In Principal Of Notes Payable
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IncreaseInPrincipalOfNotesPayable
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CY2024 ODYY Shares Issued For Exercised Warrants
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SharesIssuedForExercisedWarrants
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CY2024 us-gaap Nature Of Operations
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<p id="xdx_80A_eus-gaap--NatureOfOperations_zY7UqPFkhxG6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 1.      <span id="xdx_828_z29jmReJvFde">Nature of Operations and Going Concern</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our corporate mission is to create or acquire distinct assets, intellectual property, and technologies with an emphasis on acquisition targets that have clinical utility and will generate positive cash flow. Our business model is to develop or acquire medical related products, engage third parties to manufacture such products and then distribute the products through various distribution channels, including third parties. We have three different life saving technologies; the CardioMap® heart monitoring and screening device, the Save a Life choking rescue device and a 50% ownership in unique neurosteroid drug compound intended to treat rare brain disorders.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We intend to acquire other technologies and assets and plan to be a trans-disciplinary product development company involved in the discovery, development and commercialization of products and technologies that may be applied over various medical markets. We plan to license, improve and/or develop our products and identify and select distribution channels. We intend to establish agreements with distributors to get products to market quickly as well as to undertake and engage in our own direct marketing efforts. We will determine the most effective method of distribution for each unique product that we include in our portfolio. We will engage third-party research and development firms who specialize in the creation of our products to assist us in the development of our own products and we will apply for trademarks and patents once we have developed proprietary products.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are not currently selling or marketing any products, as our products are in development and Food and Drug Administration (“FDA”) clearance or approval to market our products will be required to sell in the United States. In addition, it would require additional European union or country specific clearance or approvals to sell internationally.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We did not recognize any revenues for the years ended July 31, 2024 (“fiscal 2024”) or 2023 (“fiscal 2023”) and we had an accumulated deficit of $<span id="xdx_907_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20240731_z6Llvjk37Aef">61,003,146</span> as of July 31, 2024. For the foreseeable future, we expect to experience continuing operating losses and negative cash flows from operations. As of July 31, 2024, we had current liabilities of $<span id="xdx_909_eus-gaap--LiabilitiesCurrent_iI_c20240731_zeAnm5ciJah9">5,919,895</span>, current assets of $<span id="xdx_90D_eus-gaap--AssetsCurrent_iI_c20240731_z5KaFGltYhh3">56,943</span>, and a working capital deficit of $<span id="xdx_900_ecustom--WorkingCapital_iNI_di_c20240731_zHeoNH0drA2a" title="Working capital deficit">5,862,952</span>. Negative working capital at July 31, 2024 did not provide enough working capital to meet our current operating expenses through the first quarter of fiscal 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The operating deficit and negative working capital at July 31, 2024 indicate substantial doubt about our ability to continue as a going concern. Our continued existence depends on the success of our efforts to raise additional capital necessary to meet our obligations as they come due and to obtain sufficient capital to execute our business plan. We may obtain capital primarily through issuances of debt or equity or entering into collaborative arrangements with corporate partners. There can be no assurance that we will be successful in completing additional financing or collaboration transactions or, if financing is available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we may be required to scale down or perhaps even cease operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The issuance of additional equity securities could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, would increase our liabilities and future cash commitments. Our financial statements do not include adjustments that might result from the outcome of this uncertainty.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are continually adjusting our business plan to reflect our current liquidity expectations. If we are unable to raise additional capital, secure additional debt financing, secure additional equity financing, secure a strategic partner, reduce our operating expenditures, or seek bankruptcy protection, we will adjust our business plan. Given our recurring losses, negative cash flow, and accumulated deficit, there is substantial doubt about our ability to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2024Q3 ODYY Working Capital
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CY2024 ODYY Research And Development Expense Offset
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CY2024 us-gaap Amortization Of Intangible Assets
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CY2024Q3 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
1684667 usd
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DebtInstrumentFairValue
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NotesPayable
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DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
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DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-246866 usd
CY2024Q3 ODYY Unamortized Beneficial Conversion Feature
UnamortizedBeneficialConversionFeature
0 usd
CY2023Q3 ODYY Unamortized Beneficial Conversion Feature
UnamortizedBeneficialConversionFeature
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.34
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2024 ODYY Share Based Compensation Arrangement By Share Based Payment Award Options Canceled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCanceledInPeriod
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCanceledInPeriodWeightedAverageExercisePrice
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CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
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CY2024 ODYY Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rates
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CY2024 us-gaap Deferred Income Tax Expense Benefit
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CY2024Q3 us-gaap Deferred Tax Assets Net
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CY2024 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q3 us-gaap Litigation Reserve
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