Odyssey Health Inc
For the period ended Jan 31, 2024. Filed Mar 22, 2024.
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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.
Jan 31, 2024 · Filed Mar 22, 2024
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Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| For the Six Months Ended January 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $12,739,531 | $(3,821,308) |
| Adjustments to reconcile net income (loss) to net cash flows used in operating activities: | ||
| Amortization | 1,538 | 1,508 |
| Stock-based compensation | 1,000,119 | 1,828,536 |
| Gain on sale of asset | (16,400,687) | – |
| Investment revaluation | 1,332,980 | – |
| Financing costs paid via issuance of common stock | 8,750 | – |
| Amortization of beneficial conversion feature, debt discount and closing costs | 219,258 | 246,122 |
| In-process research and development | – | 170,000 |
| Changes in operating assets and liabilities: | ||
| Decrease (increase) in prepaid expenses and other current assets | 21,742 | (7,479) |
| Decrease in research and development rebate due | 253,941 | 83,497 |
| Increase (decrease) in accounts payable | (206,404) | 164,452 |
| Increase (decrease) in accrued wages | (49,870) | 128,483 |
| Increase in accrued interest | 111,660 | 17,587 |
| Net cash used in operating activities | (967,442) | (1,188,602) |
| Cash flows from investing activities: | ||
| Cash proceeds from sale of assets | 1,000,000 | – |
| Purchase of intellectual property | – | (8,038) |
| Net cash provided by (used in) investing activities | 1,000,000 | (8,038) |
| Cash flows from financing activities: | ||
| Proceeds from notes payable | 350,000 | 830,400 |
| Principal payments made on notes payable | (274,896) | (35,000) |
| Interest payments made on notes payable | (34,007) | – |
| Financing closing costs paid with cash | – | (76,532) |
| Proceeds from equity financing | 55,620 | 441,030 |
| Net cash provided by financing activities | 96,717 | 1,159,898 |
| Increase (decrease) in cash and cash equivalents | 129,275 | (36,742) |
| Cash and cash equivalents: | ||
| Beginning of period | 36,865 | 72,534 |
| End of period | $166,140 | $35,792 |
| Supplemental disclosure of cash information: | ||
| Cash paid for interest | $34,007 | $– |
| Supplemental disclosure of non-cash information: | ||
| Common stock issued to settle notes payable | 993,872 | 300,000 |
| Increase in principal of notes payable | 60,000 | 165,000 |
| Shares issued for exercised warrants | 1,610 | – |
| Shares returned to treasury | 100 | 8,800 |
| Deemed dividend | 63,455 | – |
| Original issue discount on debt | – | 69,600 |
| Stock issued in exchange for closing costs | – | 13,443 |
| Warrants issued in connection with debt financing | 28,448 | 345,135 |
| Common stock issued in option purchase agreement | – | 170,000 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.