other material
confidence high
sentiment negative
materiality 0.80
Firefly Neuroscience FY2023 net loss $2.6M, revenue $498K; raises $3.5M private placement
FIREFLY NEUROSCIENCE, INC.
- FY2023 revenue $498K vs $0 in 2022; net loss $2.6M vs $3.9M; operating loss $3.1M.
- Accumulated deficit $76.6M; auditor expresses substantial doubt about going concern.
- Private placement closed 8/12/24: gross proceeds ~$3.5M from 3.07M shares and warrants.
- Merger with WaveDancer (92% ownership for Firefly shareholders) expected to close in H2 2024.
- Cash $2.1M at 12/31/23; negative operating cash flow $2.2M in FY2023.