Odyssey Health Inc
For the period ended Apr 30, 2024. Filed Jun 14, 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.
Apr 30, 2024 · Filed Jun 14, 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 Nine Months Ended April 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $11,897,190 | $(5,105,412) |
| Adjustments to reconcile net income (loss) to net cash flows used in operating activities: | ||
| Amortization | 1,538 | 2,529 |
| Stock-based compensation | 1,051,602 | 2,427,500 |
| Gain on sale of asset | (16,400,687) | – |
| Loss on investment | 1,700,909 | – |
| Financing costs paid with issuance of common stock | 8,750 | – |
| Amortization of beneficial conversion feature, debt discount and closing costs | 284,665 | 410,479 |
| In-process research and development | – | 170,000 |
| Changes in operating assets and liabilities: | ||
| (Increase) decrease in prepaid expenses and other current assets | 27,693 | (3,843) |
| Decrease in research and development rebate due from Australian government | 253,941 | 71,821 |
| Increase (decrease) in accounts payable | (175,416) | 364,111 |
| Increase in accrued wages | 84,825 | 266,144 |
| Increase in accrued interest | 113,415 | 41,821 |
| Net cash used in operating activities | (1,151,575) | (1,354,850) |
| 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 | 400,000 | 830,400 |
| Principal payments made on notes payable | (274,896) | (35,000) |
| Closing costs paid for notes payable | – | (76,532) |
| Proceeds from sale of common stock | 55,620 | 572,720 |
| Net cash provided by financing activities | 180,724 | 1,291,588 |
| Increase (decrease) in cash | 29,149 | (71,300) |
| Cash and cash equivalents: | ||
| Beginning of period | 36,865 | 72,534 |
| End of period | $66,014 | $1,234 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $36,319 | $– |
| Supplemental disclosure of non-cash information: | ||
| Common stock issued to settle notes payable | $925,437 | $400,000 |
| Accrued interest paid with common stock | 68,435 | |
| Increase in fees related to extension of LGH debt maturity date recorded as additional principal | 60,000 | 185,000 |
| Warrants issued in exchange for debt financing fees | 28,448 | 345,135 |
| Shares issued for exercised warrants | 3,536 | – |
| 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 |
| Common stock issued in option purchase agreement | – | 170,000 |
| Accounts payable assumed by Oragenics | 325,672 | – |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.