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Midas Edge

GUIDED THERAPEUTICS INC

For the period ended Sep 30, 2025. Filed Nov 13, 2025.

View on SEC.gov

About 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, 2025 · Filed Nov 13, 2025

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Contents

Unaudited Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024

CONDENSED CONSOLIDATED BALANCE SHEETS

September 30,December 31,
20252024
ASSETS
Current Assets:
Cash and cash equivalents$87$388
Trade receivables, net of allowance for credit losses of $2 and $1 at September 30, 2025 and December 31, 2024, respectively.63
Inventory, net of reserves of $818 at September 30, 2025 and December 31, 2024583633
Other current assets123173
Total current assets7991,197
Non-Current Assets:
Property and equipment, net1823
Operating lease right-of-use assets, net of amortization69141
Other assets1717
Total non-current assets104181
TOTAL ASSETS$903$1,378
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities:
Accounts payable$2,382$2,094
Accounts payable, related parties2936
Accrued liabilities9521,011
Deferred revenue689849
Current portion of lease liability76106
Short-term notes payable due to related parties-70
Current portion of long-term debt, related parties606532
Current portion of notes payable11692
Short-term convertible debt, net of discounts411117
Short-term convertible debt in default1,1301,130
Derivative liability at fair value79118
Total current liabilities6,4706,155
Long-Term Liabilities
Long-term lease liability-49
Long-term notes payable2947
Long-term convertible debt, net of discounts-14
Long-term debt, related parties502
Total long-term liabilities79112
Total liabilities6,5496,267
COMMITMENTS AND CONTINGENCIES (Note 6)
STOCKHOLDERS’ DEFICIT:
Series C convertible preferred stock, $0.001 par value; 9.0 shares authorized, nil and 0.3 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively. Liquidation preference of nil and $286 at September 30, 2025 and December 31, 2024, respectively.-105
Series C1 convertible preferred stock, $0.001 par value; 20.3 shares authorized, 0.4 and 1.0 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively. Liquidation preference of $374 and $1,049 at September 30, 2025 and December 31, 2024, respectively.61170
Series C2 convertible preferred stock, $0.001 par value; 5,000 shares authorized, nil and 2.7 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively. Liquidation preference of nil and $2,700 at September 30, 2025 and December 31, 2024, respectively.-439
Series D convertible preferred stock, $0.001 par value; 6.0 shares authorized, 0.1 and 0.4 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively. Liquidation preference of $50 and $438 at September 30, 2025 and December 31, 2024, respectively.18159
Series E convertible preferred stock, $0.001 par value; 5.0 shares authorized, 0.3 shares issued and outstanding as of September 30, 2025 and December 31, 2024. Liquidation preference of $300 and $883 at September 30, 2025 and December 31, 2024, respectively.284834
Series F convertible preferred stock, $0.001 par value; 1.5 shares authorized, 1.0 shares issued and outstanding as of September 30, 2025 and December 31, 2024. Liquidation preference of $981 at September 30, 2025 and December 31, 2024.817817
Series F-2 convertible preferred stock, $0.001 par value; 5.0 shares authorized, 0.5 shares issued and outstanding as of September 30, 2025 and December 31, 2024. Liquidation preference of $480 and $520 at September 30, 2025 and December 31, 2024, respectively.438475
Common stock, $0.001 par value; 500,000 shares authorized, 83,599 and 65,131 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively.3,4693,452
Additional paid-in capital145,212142,501
Treasury stock at cost(132)(132)
Accumulated deficit(155,813)(153,709)
Total stockholders’ deficit(5,646)(4,889)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT$903$1,378

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in thousands, except per share data)

Three Months Ended · Nine Months Ended
September 30, · September 30,
2025 · 2024 · 2025 · 2024
Sales - devices and disposables$60$-$177$6
Cost of goods sold25-642
Gross profit35-1134
Operating expenses:
Research and development136111342386
Sales and marketing2276146218
General and administrative3623741,287974
Total operating expenses5205611,7751,578
Loss from operations(485)(561)(1,662)(1,574)
Other income (expenses):
Interest expense(129)(108)(433)(247)
Interest income---3
Change in fair value of derivative liability(37)(1)46(8)
Gain from forgiveness of debt15164649
Loss from extinguishment of debt(106)-(138)-
Other income--16312
Total other income (expense)(257)(93)(316)(191)
Loss before income taxes(742)(654)(1,978)(1,765)
Provision for income taxes----
Net loss(742)(654)(1,978)(1,765)
Preferred stock dividends(43)(38)(126)(126)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS$(785)$(692)$(2,104)$(1,891)
NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
Basic$(0.01)$(0.01)$(0.03)$(0.03)
Diluted$(0.01)$(0.01)$(0.03)$(0.03)
Weighted average shares outstanding
Basic81,68957,03976,35355,929
Diluted81,68957,03976,35355,929

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2025

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, 2025-$--$61-$--$32
Issuance of common stock and warrants in private placement offering--------
Issuance of common stock for payment of Series E preferred dividends--------
Conversion of Preferred Stock Series D to common stock-------(14)
Conversion of Preferred Stock Series E to common stock--------
Conversion of debt and accrued interest to common stock and warrants--------
Issuance of common stock for payment of interest--------
Stock-based compensation--------
Accrued preferred dividends--------
Net loss--------
Balance at September 30, 2025-$--$61-$--$18
Preferred Stock · Preferred Stock · Preferred Stock
Series ESeries FSeries F2
SharesAmountSharesAmountSharesAmount
Balance at June 30, 20251$8341$817-$438
Issuance of common stock and warrants in private placement offering------
Issuance of common stock for payment of Series E preferred dividends------
Conversion of Preferred Stock Series D to common stock------
Conversion of Preferred Stock Series E to common stock(1)(550)----
Conversion of debt and accrued interest to common stock and warrants------
Issuance of common stock for payment of interest------
Stock-based compensation------
Accrued preferred dividends------
Net loss------
Balance at September 30, 2025-$2841$817-$438
Additional
Common Stock · Paid-In · Treasury · Accumulated
SharesAmountCapitalStockDeficitTotal
Balance at June 30, 202578,971$3,465$144,041$(132)$(155,028)$(5,472)
Issuance of common stock and warrants in private placement offering305-55--55
Issuance of common stock for payment of Series E preferred dividends273-72--72
Conversion of Preferred Stock Series D to common stock114-14---
Conversion of Preferred Stock Series E to common stock2,3322548---
Conversion of debt and accrued interest to common stock and warrants7901272--273
Issuance of common stock for payment of interest8141186--187
Stock-based compensation--24--24
Accrued preferred dividends----(43)(43)
Net loss----(742)(742)
Balance at September 30, 202583,599$3,469$145,212$(132)$(155,813)$(5,646)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

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, 2024-$1051$1702$4391$159
Issuance of common stock and warrants in private placement offering--------
Issuance of common stock for payment of Series D preferred dividends--------
Issuance of common stock for payment of Series E preferred dividends--------
Issuance of common stock for payment of Series F preferred dividends--------
Issuance of common stock for payment of Series F-2 preferred dividends--------
Conversion of Preferred Stock Series C to common stock-(105)------
Conversion of Preferred Stock Series C1 to common stock--(1)(109)----
Conversion of Preferred Stock Series C2 to common stock----(2)(439)--
Conversion of Preferred Stock Series D to common stock------(1)(141)
Conversion of Preferred Stock Series E to common stock--------
Conversion of Preferred Stock Series F-2 to common stock--------
Conversion of debt and accrued interest to common stock and warrants--------
Issuance of common stock for payment of interest--------
Issuance of warrants with debt--------
Stock-based compensation--------
Accrued preferred dividends--------
Net loss--------
Balance at September 30, 2025-$--$61-$--$18
Preferred Stock · Preferred Stock · Preferred Stock
Series ESeries FSeries F2
SharesAmountSharesAmountSharesAmount
Balance at December 31, 20241$8341$817-$475
Issuance of common stock and warrants in private placement offering------
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 Preferred Stock Series C to common stock------
Conversion of Preferred Stock Series C1 to common stock------
Conversion of Preferred Stock Series C2 to common stock------
Conversion of Preferred Stock Series D to common stock------
Conversion of Preferred Stock Series E to common stock(1)(550)----
Conversion of Preferred Stock Series F-2 to common stock-----(37)
Conversion of debt and accrued interest to common stock and warrants------
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, 2025-$2841$817-$438
Additional
Common Stock · Paid-In · Treasury · Accumulated
SharesAmountCapitalStockDeficitTotal
Balance at December 31, 202465,131$3,452$142,501$(132)$(153,709)$(4,889)
Issuance of common stock and warrants in private placement offering2,3502258--260
Issuance of common stock for payment of Series D preferred dividends52-7--7
Issuance of common stock for payment of Series E preferred dividends321-79--79
Issuance of common stock for payment of Series F preferred dividends624162--63
Issuance of common stock for payment of Series F-2 preferred dividends326-32--32
Conversion of Preferred Stock Series C to common stock2,2592103---
Conversion of Preferred Stock Series C1 to common stock1,3501108---
Conversion of Preferred Stock Series C2 to common stock5,4006434--1
Conversion of Preferred Stock Series D to common stock1,1641140---
Conversion of Preferred Stock Series E to common stock2,3322548---
Conversion of Preferred Stock Series F-2 to common stock160-37---
Conversion of debt and accrued interest to common stock and warrants1,3161356--357
Issuance of common stock for payment of interest8141186--187
Issuance of warrants with debt--8--8
Stock-based compensation--353--353
Accrued preferred dividends---(126)(126)
Net loss----(1,978)(1,978)
Balance at September 30, 202583,599$3,469$145,212$(132)$(155,813)$(5,646)

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2024

Preferred Stock · Preferred Stock · Preferred Stock · Preferred Stock
Series CSeries C1Series C2Series D
SharesAmountSharesAmountSharesAmountSharesAmount
Balance at June 30, 2024-$1051$1702$4391$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-$1051$1702$4391$159
Preferred Stock · Preferred Stock · Preferred Stock
Series ESeries FSeries F2
SharesAmountSharesAmountSharesAmount
Balance at June 30, 20241$8341$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, 20241$8341$838-$475
Additional
Common Stock · Paid-In · Treasury · Accumulated
SharesAmountCapitalStockDeficitTotal
Balance at June 30, 202456,267$3,442$141,320$(132)$(152,317)$(4,667)
Issuance of common stock and warrants in private placement offering, net of expenses3,3333297--300
Issuance of common stock for payment of Series D preferred dividends71-9--9
Issuance of common stock for payment of Series E preferred dividends573154--55
Issuance of common stock for payment of interest213-21--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, 202460,457$3,446$141,757$(132)$(153,009)$(4,918)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024

Preferred Stock · Preferred Stock · Preferred Stock · Preferred Stock
Series CSeries C1Series C2Series D
SharesAmountSharesAmountSharesAmountSharesAmount
Balance at December 31, 2023-$1051$1702$4391$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-$1051$1702$4391$159
Preferred Stock · Preferred Stock · Preferred Stock
Series ESeries FSeries F2
SharesAmountSharesAmountSharesAmount
Balance at December 31, 20231$8341$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, 20241$8341$838-$475
Additional
Common Stock · Paid-In · Treasury · Accumulated
SharesAmountCapitalStockDeficitTotal
Balance at December 31, 202354,105$3,441$140,983$(132)$(151,118)$(3,806)
Issuance of common stock and warrants in private placement offering, net of expenses3,3333297--300
Issuance of common stock for payment of Series D preferred dividends196-24--24
Issuance of common stock for payment of Series E preferred dividends625162--63
Issuance of common stock for payment of Series F preferred dividends445-54--54
Issuance of common stock for payment of Series F-2 preferred dividends236-27--27
Issuance of common stock for payment of interest1,1171125--126
Settlement of previously accrued professional fees through common stock issuance400-57--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, 202460,457$3,446$141,757$(132)$(153,009)$(4,918)
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.