FIREFLY NEUROSCIENCE, INC.
For the period ended Mar 31, 2025. Filed May 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 14, 2025
AIFF$0.91+0.0%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Balance Sheets as of March 31, 2025 (Unaudited) and December 31, 2024
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF MARCH 31, 2025 AND DECEMBER 31, 2024
(IN THOUSANDS, EXCEPT SHARE DATA)
| March 31, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| (Unaudited) | ||
| ASSETS | ||
| Current assets | ||
| Cash | $9,545 | $1,810 |
| Accounts receivable, net | 100 | 121 |
| Prepaid expenses and deposits | 732 | 697 |
| Total current assets | 10,377 | 2,628 |
| Non current assets | ||
| Prepaid expenses and deposits | 1,682 | 1,657 |
| Equipment, net | 134 | 136 |
| Intangible assets, net | 170 | 180 |
| Total non current assets | 1,986 | 1,973 |
| TOTAL ASSETS | $12,363 | $4,601 |
| LIABILITIES | ||
| Current liabilities | ||
| Accounts payable | $1,612 | $1,816 |
| Accrued liabilities | 1,156 | 1,626 |
| Deferred revenue | - | 13 |
| Convertible promissory note, net of unamortized discount | - | 694 |
| Deemed dividend liability | 4,410 | - |
| Derivative liability | - | 827 |
| Total current liabilities | 7,178 | 4,976 |
| TOTAL LIABILITIES | 7,178 | 4,976 |
| COMMITMENTS AND CONTINGENCIES (Note 10) | ||
| SHAREHOLDERS’ EQUITY (DEFICIT) | ||
| Preferred shares, $0.0001 par value: 1,000,000 shares authorized - 2025; 1,000,000 shares authorized - 2024; nil issued and outstanding at March 31, 2025 and December 31, 2024 | - | - |
| Common shares, $0.0001 par value: 100,000,000 shares authorized; 11,678,736 and 8,122,060 issued and outstanding at March 31, 2025 and December 31, 2024, respectively | 1 | - |
| Additional paid-in capital | 109,608 | 86,709 |
| Accumulated deficit | (104,424) | (87,084) |
| TOTAL SHAREHOLDERS’ EQUITY (DEFICIT) | 5,185 | (375) |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $12,363 | $4,601 |
FIREFLY NEUROSCIENCE, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
| Three months ended | ||
|---|---|---|
| March 31, | ||
| 2025 | 2024 | |
| REVENUE | $43 | $12 |
| OPERATING EXPENSES | ||
| Research and development expenses | 312 | 289 |
| Selling and marketing expenses | 208 | 249 |
| General and administration expenses | 1,588 | 565 |
| TOTAL OPERATING EXPENSES | 2,108 | 1,103 |
| OPERATING LOSS | (2,065) | (1,091) |
| OTHER INCOME (EXPENSE) | ||
| Interest and bank fees | (128) | (2) |
| Unrealized gain (loss) on foreign exchange | 3 | (28) |
| Change in derivative fair value | (9,369) | - |
| Loss on settlement of convertible promissory note | (1,353) | - |
| Other income (expense) | (18) | (1) |
| TOTAL OTHER INCOME (EXPENSE) | (10,865) | (31) |
| LOSS BEFORE INCOME TAX | (12,930) | (1,122) |
| Income tax provision | - | - |
| NET LOSS AND COMPREHENSIVE LOSS | $(12,930) | $(1,122) |
| Deemed dividend on warrant inducement | (4,410) | - |
| NET LOSS AND COMPREHENSIVE LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | $(17,340) | $(1,122) |
| BASIC AND DILUTED LOSS PER SHARE | $(1.74) | $(0.22) |
| WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING, BASIC AND DILUTED | 9,956,933 | 5,194,665 |
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