XWELL, Inc.
For the period ended Mar 31, 2025. Filed May 20, 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 20, 2025
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Item 5. Other Information
These unaudited pro forma condensed consolidated financial statements have been prepared in accordance with Article 11 of Regulation S-X and do not include all of the information and note disclosures required by generally accepted accounting principles of the United States.
The unaudited pro forma condensed consolidated financial information is subject to the assumptions and adjustments described in the accompanying notes. These assumptions and adjustments are based on information presently available. Actual adjustments may differ materially from the information presented. The unaudited pro forma consolidated financial statements are based on the historical financial statements of the Company for each period presented and in the opinion of the Company’s management, all adjustments and disclosures necessary for a fair presentation of the pro forma data have been made. These unaudited pro forma consolidated financial statements are presented for illustrative purposes only and are not necessarily indicative of the results of operations or financial condition that would have been achieved had events reflected been completed as of the dates indicated and may not be useful in predicting the impact of the disposal on the future financial condition and results of operations of the Company due to a variety of factors.
The following pro forma financial information gives effect to the Warrant Amendment as if it had occurred on March 31, 2025. See Notes 10 and 17 in the notes to the unaudited condensed consolidated financial statements for further information.
XWELL, INC.
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
MARCH 31, 2025
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · · Pro Forma · · | |||||||||
| · · Historical · · · Adjustments · · Pro Forma | |||||||||
| Current assets · · · · · | |||||||||
| Cash and cash equivalents | | $3,650 | | $ | - | | $3,650 | ||
| Marketable Securities | | | 7,318 | | | - | | | 7,318 |
| Accounts receivable | | | 1,498 | | | - | | | 1,498 |
| Inventory | | 532 | | | - | | 532 | ||
| Other current assets | | 1,843 | | | - | | 1,843 | ||
| Total current assets | | 14,841 | | | - | | 14,841 | ||
| | | | | | | | | | |
| Restricted cash | | 751 | | | - | | 751 | ||
| Property and equipment, net | | 2,148 | | | - | | 2,148 | ||
| Intangible assets, net | | 947 | | | - | | 947 | ||
| Operating lease right of use assets, net | | 3,163 | | | - | | 3,163 | ||
| Goodwill | | | 1,389 | | | - | | | 1,389 |
| Other assets | | 1,588 | | | - | | 1,588 | ||
| Total assets | | $24,827 | | | - | | $24,827 | ||
| | | | | | | | | | |
| Current liabilities | | | | | | ||||
| Accounts payable | | $2,208 | | | - | | $2,208 | ||
| Accrued expenses and other current liabilities | | | 3,342 | | | - | | | 3,342 |
| Current portion of operating lease liabilities | | | 2,225 | | | - | | | 2,225 |
| Deferred revenue | | | 1,085 | | | - | | | 1,085 |
| Total current liabilities | | 8,860 | | | - | | 8,860 | ||
| | | | | | | | | | |
| Long-term liabilities | | | | | | | | ||
| Derivative liability | | 1,457 | | | - | | 1,457 | ||
| Warrant liabilities | | | 3,283 | | | (3,283) | | - | |
| Operating lease liabilities | | 7,801 | | | - | | 7,801 | ||
| Total liabilities | | | 21,401 | | | (3,283) | | | 18,118 |
| Commitments and contingencies (see Note 11) | | | | | | ||||
| | | | | | | | | | |
| Temporary equity | | | | | | ||||
| Series G Convertible Preferred Stock, $0.01 par value per share and $1,000 stated value, 4,000 shares authorized; 4,000 shares issued and outstanding as of March 31, 2025; Liquidation preference of $4,388,444 as of March 31, 2025 | | 567 | | | - | | 567 | ||
| Equity | | | - | | | | | | |
| Common Stock, $0.01 par value per share, 150,000,000 shares authorized; 5,261,024 shares issued and outstanding as of March 31, 2025 | | | 53 | | | - | | | 53 |
| Additional paid-in capital | | 473,337 | | | 3,283 | | 476,620 | ||
| Accumulated deficit | | (477,425) | | | - | | (477,425) | ||
| Accumulated other comprehensive loss | | (1,760) | | | - | | (1,760) | ||
| Total deficit attributable to XWELL, Inc. | | (5,795) | | | 3,283 | | (2,512) | ||
| Noncontrolling interests | | 8,654 | | | - | | 8,654 | ||
| Total equity | | 2,859 | | | 3,283 | | 6,142 | ||
| Total liabilities, temporary equity and equity | | $24,827 | | | - | | $24,827 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.