Company: ARTL
Filing Date: 2025-07-11
Form Type: 8-K
Source: 0001640334-25-001184
Chunk: 1

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-07-11
Form: 8-K
Item: Item 8.01
Chunk 1
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Item 8.01 Other Information.

As previously disclosed, Artelo Biosciences, Inc., a Nevada corporation (the “ Company”), completed a one-for-six (1-for-6) reverse stock split (the “ Reverse Split”) of the Company’s issued and outstanding common stock, par value $0.001 per share (the “ Common Stock”), effective as of June 13, 2025.

As a result of the Reverse Split, each six (6) pre-split shares of Common Stock outstanding were automatically combined into one (1) new share of Common Stock, and the number of outstanding shares of Common Stock were reduced from 3,280,000 to approximately 546,667. The number of authorized shares of common stock were reduced from 50,000,000 to 8,333,333, while the number of authorized shares of preferred stock were reduced from 416,667 to 69,444. The Common Stock par value of $0.001 per share remained unchanged after the Reverse Split.

As a result of the Reverse Split, the Company is republishing certain financial information to account for the change in total par value due to the Reverse Split. The audited financial statements of the Company as of and for the fiscal years ended December 31, 2023 and 2024 are set forth in Exhibit 99.1 hereto and are incorporated herein by reference. The unaudited financial information of the Company for the quarter ended March 31, 2025 is set forth in Exhibit 99.2 hereto and is incorporated herein by reference.

On July 11, 2025, the Company provided an interim update regarding the preliminary estimated financial information below based on currently available information. It has been prepared by, and is the responsibility of, our management, and MaloneBailey, LLP, our independent registered public accounting firm, has not audited, reviewed, compiled or performed any procedures with respect to the preliminary estimated financial information provided below.

Our preliminary unaudited estimates as of June 30, 2025 for select financial metrics are as follows:

  Working capital as of June 30, 2025 is expected to be between $(1.2) million and $(1.5) million.       
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  Cash, cash equivalents and short-term investments as of June 30, 2025 is expected to be $2.1 million.  

Please note that we believe substantial doubt remains about