secwatch.observer — SEC 8-K summary
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Issuer:     Neuraxis, INC (NRXS)
CIK:        0001933567
Form:       8-K
Filed at:   2024-04-09T23:59:59+00:00
Accession:  0001493152-24-014075
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 4.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NeurAxis reports FY2023 net loss $14.6M; restates Q3 2023 due to $3.7M accounting error
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- FY2023 revenue $2.5M down 8.4% YoY; net loss widened to $14.6M from $4.8M in 2022.
- Restating Q3 2023 financials: $3.7M understatement of net loss and APIC due to warrant liability misclassification.
- Cash at Dec 31, 2023 only $78.6K; secured $6.1M in convertible notes ($1.5M funded by Mar 31, 2024).
- Insured lives expanded to ~16M (up 300% YoY), targeting 50M by end 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1933567/000149315224014075/0001493152-24-014075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1933567/000149315224014075/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-014075

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer