Company: RGNT
Filing Date: 2025-01-27
Form Type: DRS/A
Source: 0001213900-25-006676
Chunk: 107

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-01-27
Form: DRS/A
Chunk 107
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 of the fiscal year in which we have total annual gross revenues of
$1.235 billion or more; (ii) the date on which we have issued more than $1.0 billion in nonconvertible debt during the
previous three years; (iii) the date on which we are deemed to be a large accelerated filer under the rules of the SEC; or (iv) the
last day of the fiscal year following the fifth anniversary of this offering. We may choose to take advantage of some but not all of these
exemptions. Section 107 of the JOBS Act provides that an “emerging growth company” can take advantage of the extended
transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. This
means that an “emerging growth company” can delay the adoption of certain accounting standards until those standards would
otherwise apply to private companies. We have elected to take advantage of the extended transition period to comply with new or revised
accounting standards and to adopt certain of the reduced disclosure requirements available to emerging growth companies. As a result of
the accounting standards election, we will not be subject to the same implementation timing for new or revised accounting standards as
other public companies that are not emerging growth companies which may make comparison of our financials to those of other public companies
more difficult.

Liquidity and Capital Resources

Since our inception, we have incurred losses and negative cash flows from our operations. For the year ended December 31, 2023, we incurred a net loss of $4.1 million and net cash of $1.2 million was used in our operating activities. For the six months ended June 30, 2024, we incurred a net income of $7.2 million while net cash of $ 0.006 million was provided by our operating activities. As of June 30, 2024 and December 31, 2023, we had a negative working capital of $0.9 million and $2.8 million, respectively, and an accumulated deficit of approximately $39.7 million and $46.9 million, respectively. As of June 30, 2024, our cash and cash equivalents totaled approximately $0.2 million. We believe that after the completion of this offering our cash and cash equivalents, including the proceeds from this offering, will enable us to fund our operations through March 31, 2027.

Through June 30,