Guardion Q1 net loss $4.7M; ISS backs Activ sale for $17.2M and dissolution plan

Guardion Health Sciences, Inc.

Q1 revenue $2.999M (-5.8% YoY); net loss $4.747M vs net income $0.533M prior year.
ISS recommends stockholders vote FOR sale of Activ (Viactiv brand) and plan of liquidation.
Activ sale for $17.2M cash; special meeting May 23, 2024; close targeted by June 30, 2024.
Board unanimously recommends approval; expects liquidating distributions above recent stock price.
Cash and equivalents $5.605M as of March 31, 2024; operating cash use improved to $754.6K.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Guardion Health Sciences, Inc. reported the three months ended March 31, 2024 results: revenue $2,999,645, net income $(4,746,744).

Period: the three months ended March 31, 2024
Revenue: $2,999,645
Net income: $(4,746,744)
Result: reported results

Exact text from the filing

the Special Meeting of its Stockholders to vote on these transactions. Financial highlights for the three months ended March 31, 2024 include the following: ● Total revenue was $2,999,645 for the three months ended March 31, 2024, as compared to $3,185,689 for the three months ended March 31, 2023, a decrease of $186,044 or 5.8%. Sales of the Viactiv ® product

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Source: SEC EDGAR

accession 0001493152-24-019525

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