GUIDED THERAPEUTICS INC
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 14, 2024
GTHPStored price and day change unavailable
Contents
Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023
| GUIDED THERAPEUTICS, INC. AND SUBSIDIARY | ||
|---|---|---|
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||
| (unaudited, in thousands) | ||
| September 30, | December 31, | |
| 2024 | 2023 | |
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $194 | $591 |
| Trade receivables, net of allowance for doubtful accounts of nil and $2 at September 30, 2024 and December 31, 2023, respectively. | 2 | 7 |
| Inventory, net of reserves of $818 at September 30, 2024 and December 31, 2023 | 636 | 632 |
| Other current assets | 211 | 163 |
| Total current assets | 1,043 | 1,393 |
| Non-Current Assets: | ||
| Property and equipment, net | 25 | 32 |
| Operating lease right-of-use assets, net of amortization | 164 | 227 |
| Other assets | 17 | 17 |
| Total non-current assets | 206 | 276 |
| TOTAL ASSETS | $1,249 | $1,669 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| Current Liabilities: | ||
| Accounts payable | $2,100 | $1,991 |
| Accounts payable, related parties | 32 | 32 |
| Accrued liabilities | 923 | 1,068 |
| Deferred revenue | 748 | 424 |
| Current portion of lease liability | 102 | 91 |
| Short-term notes payable due to related parties | 68 | - |
| Current portion of long-term debt, related parties | 525 | 39 |
| Short-term notes payable | 228 | 59 |
| Short-term convertible debt | 149 | 1,105 |
| Short-term convertible debt in default | 1,130 | - |
| Derivative liability at fair value | 20 | - |
| Total current liabilities | 6,025 | 4,809 |
| Long-Term Liabilities, Net of Current Portion | ||
| Long-term lease liability | 76 | 155 |
| Long-term notes payable | 53 | - |
| Long-term debt, related parties | 13 | 511 |
| Total long-term liabilities | 142 | 666 |
| Total liabilities | 6,167 | 5,475 |
| COMMITMENTS AND CONTINGENCIES (Note 6) | ||
| STOCKHOLDERS’ DEFICIT: | ||
|---|---|---|
| Series C convertible preferred stock, $0.001 par value; 9.0 shares authorized, 0.3 shares issued and outstanding as of September 30, 2024 and December 31, 2023. Liquidation preference of $286 at September 30, 2024 and December 31, 2023. | 105 | 105 |
| Series C1 convertible preferred stock, $0.001 par value; 20.3 shares authorized, 1.0 shares issued and outstanding as of September 30, 2024 and December 31, 2023. Liquidation preference of $1,049 at September 30, 2024 and December 31, 2023. | 170 | 170 |
| Series C2 convertible preferred stock, $0.001 par value; 5,000 shares authorized, 2.7 shares issued and outstanding as of September 30, 2024 and December 31, 2023. Liquidation preference of $2,700 at September 30, 2024 and December 31, 2023. | 439 | 439 |
| Series D convertible preferred stock, $0.001 par value; 6.0 shares authorized, 0.4 shares issued and outstanding as of September 30, 2024 and December 31, 2023. Liquidation preference of $438 at September 30, 2024 and December 31, 2023. | 159 | 159 |
| Series E convertible preferred stock, $0.001 par value; 5.0 shares authorized, 0.9 shares issued and outstanding as of September 30, 2024 and December 31, 2023. Liquidation preference of $883 at September 30, 2024 and December 31, 2023. | 834 | 834 |
| Series F convertible preferred stock, $0.001 par value; 1.5 shares authorized, 1.1 shares issued and outstanding as of September 30, 2024 and December 31, 2023. Liquidation preference of $1,006 at September 30, 2024 and December 31, 2023. | 838 | 838 |
| Series F-2 convertible preferred stock, $0.001 par value; 5.0 shares authorized, 0.5 shares issued and outstanding as of September 30, 2024 and December 31, 2023. Liquidation preference of $520 at September 30, 2024 and December 31, 2023. | 475 | 475 |
| Common stock, $0.001 par value; 500,000 shares authorized, 60,457 and 54,105 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively. | 3,446 | 3,441 |
| Additional paid-in capital | 141,757 | 140,983 |
| Treasury stock at cost | (132) | (132) |
| Accumulated deficit | (153,009) | (151,118) |
| Total stockholders’ deficit | (4,918) | (3,806) |
| TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $1,249 | $1,669 |
| GUIDED THERAPEUTICS, INC. AND SUBSIDIARY | ||||||
|---|---|---|---|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||
| (unaudited, in thousands, except per share data) | ||||||
| Three Months Ended · Nine Months Ended | ||||||
| September 30, · September 30, | ||||||
| 2024 · 2023 · 2024 · 2023 | ||||||
| Sales - devices and disposables | $ | - | $ | - | $6 | 66 |
| Cost of goods sold | - | 4 | 2 | 46 | ||
| Gross profit | - | (4) | 4 | 20 | ||
| Operating expenses: | ||||||
| Research and development | 111 | 69 | 386 | 142 | ||
| Sales and marketing | 76 | 69 | 218 | 203 | ||
| General and administrative | 374 | 481 | 974 | 2,647 | ||
| Total operating expenses | 561 | 619 | 1,578 | 2,992 | ||
| Loss from operations | (561) | (623) | (1,574) | (2,972) | ||
| Other income (expenses): | ||||||
| Interest expense | (108) | (71) | (247) | (206) | ||
| Interest income | - | - | 3 | - | ||
| Change in fair value of derivative liability | (1) | - | (8) | 5 | ||
| Gain from extinguishment of debt | 16 | 17 | 49 | 69 | ||
| Other income | - | - | 12 | 1 | ||
| Total other income (expense) | (93) | (54) | (191) | (131) | ||
| Loss before income taxes | (654) | (677) | (1,765) | (3,103) | ||
| Provision for income taxes | - | - | - | - | ||
| Net loss | (654) | (677) | (1,765) | (3,103) | ||
| Deemed dividend for warrant exchanges | - | - | - | (65) | ||
| Preferred stock dividends | (38) | (40) | (126) | (122) | ||
| NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | $(692) | $(717) | $(1,891) | $(3,290) | ||
| NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS | ||||||
| Basic | $(0.01) | $(0.01) | $(0.03) | $(0.07) | ||
| Diluted | $(0.01) | $(0.01) | $(0.03) | $(0.07) | ||
| Weighted average shares outstanding | ||||||
| Basic | 57,039 | 51,473 | 55,929 | 50,588 | ||
| Diluted | 57,039 | 51,473 | 55,929 | 50,588 | ||
| GUIDED THERAPEUTICS, INC. AND SUBSIDIARY | ||||||||
|---|---|---|---|---|---|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT | ||||||||
| FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2024 | ||||||||
| (unaudited, in thousands) | ||||||||
| Preferred Stock · Preferred Stock · Preferred Stock · Preferred Stock | ||||||||
| Series C | Series C1 | Series C2 | Series D | |||||
| Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |
| Balance at June 30, 2024 | - | $105 | 1 | $170 | 2 | $439 | 1 | $159 |
| Issuance of common stock and warrants in private placement offering, net of expenses | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series D preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series E preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of interest | - | - | - | - | - | - | - | - |
| Issuance of warrants with debt | - | - | - | - | - | - | - | - |
| Stock-based compensation | - | - | - | - | - | - | - | - |
| Accrued preferred dividends | - | - | - | - | - | - | - | - |
| Net loss | - | - | - | - | - | - | - | - |
| Balance at September 30, 2024 | - | $105 | 1 | $170 | 2 | $439 | 1 | $159 |
| Preferred Stock · Preferred Stock · Preferred Stock | ||||||
|---|---|---|---|---|---|---|
| Series E | Series F | Series F2 | ||||
| Shares | Amount | Shares | Amount | Shares | Amount | |
| Balance at June 30, 2024 | 1 | $834 | 1 | $838 | - | $475 |
| Issuance of common stock and warrants in private placement offering, net of expenses | - | - | - | - | - | - |
| Issuance of common stock for payment of Series D preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of Series E preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of interest | - | - | - | - | - | - |
| Issuance of warrants with debt | - | - | - | - | - | - |
| Stock-based compensation | - | - | - | - | - | - |
| Accrued preferred dividends | - | - | - | - | - | - |
| Net loss | - | - | - | - | - | - |
| Balance at September 30, 2024 | 1 | $834 | 1 | $838 | - | $475 |
| Additional | ||||||
|---|---|---|---|---|---|---|
| Common Stock · Paid-In · Treasury · Accumulated | ||||||
| Shares | Amount | Capital | Stock | Deficit | Total | |
| Balance at June 30, 2024 | 56,267 | $3,442 | $141,320 | $(132) | $(152,317) | $(4,667) |
| Issuance of common stock and warrants in private placement offering, net of expenses | 3,333 | 3 | 297 | - | - | 300 |
| Issuance of common stock for payment of Series D preferred dividends | 71 | - | 9 | - | - | 9 |
| Issuance of common stock for payment of Series E preferred dividends | 573 | 1 | 54 | - | - | 55 |
| Issuance of common stock for payment of interest | 213 | - | 21 | - | - | 21 |
| Issuance of warrants with debt | - | - | 15 | - | - | 15 |
| Stock-based compensation | - | - | 41 | - | - | 41 |
| Accrued preferred dividends | - | - | - | - | (38) | (38) |
| Net loss | - | - | - | - | (654) | (654) |
| Balance at September 30, 2024 | 60,457 | $3,446 | $141,757 | $(132) | $(153,009) | $(4,918) |
| GUIDED THERAPEUTICS, INC. AND SUBSIDIARY | ||||||||
|---|---|---|---|---|---|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT | ||||||||
| FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024 | ||||||||
| (unaudited, in thousands) | ||||||||
| Preferred Stock · Preferred Stock · Preferred Stock · Preferred Stock | ||||||||
| Series C | Series C1 | Series C2 | Series D | |||||
| Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |
| Balance at December 31, 2023 | - | $105 | 1 | $170 | 2 | $439 | 1 | $159 |
| Issuance of common stock and warrants in private placement offering, net of expenses | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series D preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series E preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series F preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series F-2 preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of interest | - | - | - | - | - | - | - | - |
| Settlement of previously accrued professional fees through common stock issuance | - | - | - | - | - | - | - | - |
| Issuance of warrants with debt | - | - | - | - | - | - | - | - |
| Stock-based compensation | - | - | - | - | - | - | - | - |
| Accrued preferred dividends | - | - | - | - | - | - | - | - |
| Net loss | - | - | - | - | - | - | - | - |
| Balance at September 30, 2024 | - | $105 | 1 | $170 | 2 | $439 | 1 | $159 |
| Preferred Stock · Preferred Stock · Preferred Stock | ||||||
|---|---|---|---|---|---|---|
| Series E | Series F | Series F2 | ||||
| Shares | Amount | Shares | Amount | Shares | Amount | |
| Balance at December 31, 2023 | 1 | $834 | 1 | $838 | - | $475 |
| Issuance of common stock and warrants in private placement offering, net of expenses | - | - | - | - | - | - |
| Issuance of common stock for payment of Series D preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of Series E preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of Series F preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of Series F-2 preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of interest | - | - | - | - | - | - |
| Settlement of previously accrued professional fees through common stock issuance | - | - | - | - | - | - |
| Issuance of warrants with debt | - | - | - | - | - | - |
| Stock-based compensation | - | - | - | - | - | - |
| Accrued preferred dividends | - | - | - | - | - | - |
| Net loss | - | - | - | - | - | - |
| Balance at September 30, 2024 | 1 | $834 | 1 | $838 | - | $475 |
| Additional | ||||||
|---|---|---|---|---|---|---|
| Common Stock · Paid-In · Treasury · Accumulated | ||||||
| Shares | Amount | Capital | Stock | Deficit | Total | |
| Balance at December 31, 2023 | 54,105 | $3,441 | $140,983 | $(132) | $(151,118) | $(3,806) |
| Issuance of common stock and warrants in private placement offering, net of expenses | 3,333 | 3 | 297 | - | - | 300 |
| Issuance of common stock for payment of Series D preferred dividends | 196 | - | 24 | - | - | 24 |
| Issuance of common stock for payment of Series E preferred dividends | 625 | 1 | 62 | - | - | 63 |
| Issuance of common stock for payment of Series F preferred dividends | 445 | - | 54 | - | - | 54 |
| Issuance of common stock for payment of Series F-2 preferred dividends | 236 | - | 27 | - | - | 27 |
| Issuance of common stock for payment of interest | 1,117 | 1 | 125 | - | - | 126 |
| Settlement of previously accrued professional fees through common stock issuance | 400 | - | 57 | - | - | 57 |
| Issuance of warrants with debt | - | - | 27 | - | - | 27 |
| Stock-based compensation | - | - | 101 | - | - | 101 |
| Accrued preferred dividends | - | - | - | - | (126) | (126) |
| Net loss | - | - | - | - | (1,765) | (1,765) |
| Balance at September 30, 2024 | 60,457 | $3,446 | $141,757 | $(132) | $(153,009) | $(4,918) |
| GUIDED THERAPEUTICS, INC. AND SUBSIDIARY | ||||||||
|---|---|---|---|---|---|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT | ||||||||
| FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2023 | ||||||||
| (unaudited, in thousands) | ||||||||
| Preferred Stock · Preferred Stock · Preferred Stock · Preferred Stock | ||||||||
| Series C | Series C1 | Series C2 | Series D | |||||
| Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |
| Balance at June 30, 2023 | - | $105 | 1 | $170 | 2 | $439 | 1 | $159 |
| Issuance of common stock for payment of Series D preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series E preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of interest | - | - | - | - | - | - | - | - |
| Settlement of previously accrued professional fees through common stock issuance | - | - | - | - | - | - | - | - |
| Stock-based compensation | - | - | - | - | - | - | - | - |
| Accrued preferred dividends | - | - | - | - | - | - | - | - |
| Net loss | - | - | - | - | - | - | - | - |
| Balance at September 30, 2023 | - | $105 | 1 | $170 | 2 | $439 | 1 | $159 |
| Preferred Stock · Preferred Stock · Preferred Stock | ||||||
|---|---|---|---|---|---|---|
| Series E | Series F | Series F2 | ||||
| Shares | Amount | Shares | Amount | Shares | Amount | |
| Balance at June 30, 2023 | 1 | $834 | 1 | $838 | 3 | $475 |
| Issuance of common stock for payment of Series D preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of Series E preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of interest | - | - | - | - | - | - |
| Settlement of previously accrued professional fees through common stock issuance | - | - | - | - | - | - |
| Stock-based compensation | - | - | - | - | - | - |
| Accrued preferred dividends | - | - | - | - | - | - |
| Net loss | - | - | - | - | - | - |
| Balance at September 30, 2023 | 1 | $834 | 1 | $838 | 3 | $475 |
| Additional | ||||||
|---|---|---|---|---|---|---|
| Common Stock · Paid-In · Treasury · Accumulated | ||||||
| Shares | Amount | Capital | Stock | Deficit | Total | |
| Balance at June 30, 2023 | 51,011 | $3,438 | $140,291 | $(132) | $(149,932) | $(3,315) |
| Issuance of common stock for payment of Series D preferred dividends | 38 | - | 8 | - | - | 8 |
| Issuance of common stock for payment of Series E preferred dividends | 353 | - | 53 | - | - | 53 |
| Issuance of common stock for payment of interest | 240 | - | 60 | - | - | 60 |
| Settlement of previously accrued professional fees through common stock issuance | 400 | 1 | 50 | - | - | 51 |
| Stock-based compensation | - | - | 210 | - | - | 210 |
| Accrued preferred dividends | - | - | - | - | (40) | (40) |
| Net loss | - | - | - | - | (677) | (677) |
| Balance at September 30, 2023 | 52,042 | $3,439 | $140,672 | $(132) | $(150,649) | $(3,650) |
| GUIDED THERAPEUTICS, INC. AND SUBSIDIARY | ||||||||
|---|---|---|---|---|---|---|---|---|
| CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT | ||||||||
| FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2023 | ||||||||
| (unaudited, in thousands) | ||||||||
| Preferred Stock · Preferred Stock · Preferred Stock · Preferred Stock | ||||||||
| Series C | Series C1 | Series C2 | Series D | |||||
| Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |
| Balance at December 31, 2022 | - | $105 | 1 | $170 | 2 | $439 | 1 | $159 |
| Common stock warrants exercised | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series D preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series E preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series F preferred dividends | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of Series F-2 preferred dividends | - | - | - | - | - | - | - | - |
| Conversion of Series E preferred stock to common stock | - | - | - | - | - | - | - | - |
| Conversion of Series F preferred stock to common stock | - | - | - | - | - | - | - | - |
| Conversion of Series F-2 preferred stock to common stock | - | - | - | - | - | - | - | - |
| Issuance of common stock for payment of interest | - | - | - | - | - | - | - | - |
| Settlement of previously accrued professional fees through common stock issuance | - | - | - | - | - | - | - | - |
| Stock-based compensation | - | - | - | - | - | - | - | - |
| Impact of warrant exchanges | - | - | - | - | - | - | - | - |
| Accrued preferred dividends | - | - | - | - | - | - | - | - |
| Net loss | - | - | - | - | - | - | - | - |
| Balance at September 30, 2023 | - | $105 | 1 | $170 | 2 | $439 | 1 | $159 |
| Preferred Stock · Preferred Stock · Preferred Stock | ||||||
|---|---|---|---|---|---|---|
| Series E | Series F | Series F2 | ||||
| Shares | Amount | Shares | Amount | Shares | Amount | |
| Balance at December 31, 2022 | 1 | $839 | 1 | $880 | 3 | $489 |
| Common stock warrants exercised | - | - | - | - | - | - |
| Issuance of common stock for payment of Series D preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of Series E preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of Series F preferred dividends | - | - | - | - | - | - |
| Issuance of common stock for payment of Series F-2 preferred dividends | - | - | - | - | - | - |
| Conversion of Series E preferred stock to common stock | - | (5) | - | - | - | - |
| Conversion of Series F preferred stock to common stock | - | - | - | (42) | - | - |
| Conversion of Series F-2 preferred stock to common stock | - | - | - | - | - | (14) |
| Issuance of common stock for payment of interest | - | - | - | - | - | - |
| Settlement of previously accrued professional fees through common stock issuance | - | - | - | - | - | - |
| Stock-based compensation | - | - | - | - | - | - |
| Impact of warrant exchanges | - | - | - | - | - | - |
| Accrued preferred dividends | - | - | - | - | - | - |
| Net loss | - | - | - | - | - | - |
| Balance at September 30, 2023 | 1 | $834 | 1 | $838 | 3 | $475 |
| Additional | ||||||
|---|---|---|---|---|---|---|
| Common Stock · Paid-In · Treasury · Accumulated | ||||||
| Shares | Amount | Capital | Stock | Deficit | Total | |
| Balance at December 31, 2022 | 48,596 | $3,437 | $138,090 | $(132) | $(147,359) | $(2,883) |
| Common stock warrants exercised | 1,120 | 1 | 230 | - | - | 231 |
| Issuance of common stock for payment of Series D preferred dividends | 97 | - | 22 | - | - | 22 |
| Issuance of common stock for payment of Series E preferred dividends | 379 | - | 61 | - | - | 61 |
| Issuance of common stock for payment of Series F preferred dividends | 233 | - | 53 | - | - | 53 |
| Issuance of common stock for payment of Series F-2 preferred dividends | 121 | - | 29 | - | - | 29 |
| Conversion of Series E preferred stock to common stock | 20 | - | 5 | - | - | - |
| Conversion of Series F preferred stock to common stock | 200 | - | 42 | - | - | - |
| Conversion of Series F-2 preferred stock to common stock | 60 | - | 14 | - | - | - |
| Issuance of common stock for payment of interest | 418 | - | 119 | - | - | 119 |
| Settlement of previously accrued professional fees through common stock issuance | 800 | 1 | 167 | - | - | 168 |
| Stock-based compensation | - | - | 1,776 | - | - | 1,776 |
| Impact of warrant exchanges | - | - | 65 | - | (65) | - |
| Accrued preferred dividends | - | - | (1) | - | (122) | (123) |
| Net loss | - | - | - | - | (3,103) | (3,103) |
| Balance at September 30, 2023 | 52,042 | $3,439 | $140,672 | $(132) | $(150,649) | $(3,650) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.