SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: S-1
Date Filed: 2026-02-12
Accession Number: 0001493152-26-006407
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226006407/forms-1.htm

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and prior periods and the Company has incurred and expects to continue to incur significant costs in pursuit of its expansion and development plans, which raises substantial doubt about its ability to continue as a going concern. Management’s plans regarding those matters are discussed in the notes to the financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Basis for Opinion These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether
the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to
have, nor were we engaged to perform, audits of its internal control over financial reporting. As part of our audits, we are required
to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness
of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures
to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing
procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates
made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits
provide a reasonable basis for our opinion.

Critical Audit Matter

The critical audit matter communicated below
is matter arising from the current period audits of the consolidated financial statements that was communicated or required to be communicated
to the audits committee and that: (1) relate to accounts or disclosures that are material to the consolidated financial statements and
(2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matter does not alter
in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit
matter below, providing separate opinion on the critical audit matter or on the accounts or disclosures.

Going Concern

As discussed in Note 1, the Company has not
yet generated any significant revenue, has incurred recurring losses from operations, generated negative cash flows from operating activities
and had an accumulated deficit that raises substantial doubt about the Company’s ability to continue as a going concern. Auditing
management’s evaluation of a going concern can be a significant judgment given the fact that the Company uses management estimates
on future revenues and expenses, which are difficult to substantiate. We evaluated the appropriateness of the going concern, we examined
and evaluated the financial information along with management’s plans to mitigate the going concern and management’s disclosure
on going concern.

/s/ M&K CPAS, PLLC

www.mkacpas.com

We have served as the Company’s auditor
since 2025.

The Woodlands, Texas

February 9, 2026

BIOVENTRIX,
INC.

Consolidated
Balance Sheets

As of December 31,

ASSETS

Current assets:

Cash and cash equivalents $	1,838,121 $	2,637,635

Prepaid expenses and other current assets 251,734 104,711

Total current assets 2,089,855 2,742,346

Long-term assets:

Property and equipment, net 101,689 146,884

Lease right of use asset 231,785 344,487

Deposits 145,532 45,532

Total long-term assets 479,006 536,903

Total assets $	2,568,861 $	3,279,249

LIABILITIES AND STOCKHOLDERS’
DEFICIT

Current liabilities:

Accounts payable $	2,088,060 $	2,470,535

Accrued liabilities 2,779,397 784,350

Lease liability, current 146,323 142,061

Convertible notes 9,857,477 4,710,000

Discount on convertible notes (1,188,905	) (375.292	)

Total current liabilities 13,682,352 7,731,654

Long-term liabilities:

Derivative liability 1,349,735 364,398

Lease liability, non-current 101,955 222,332

Total long-term liabilities 1,451,690 586,730

Total liabilities 15,134,042 8,318,384

Stockholders’ deficit:

Common stock, $0.0001 par value, 25,000,000 shares authorized;
5,712,615 and 5,616,390 shares issued and outstanding at December 31, 2025, and December 31, 2024, respectively 571 561

Convertible preferred stock, $0.0001 par value, 12,500,000 shares
authorized; 1,565,000 shares issued and outstanding at December 31, 2025, and December 31, 2024, respectively 157 157

Additional paid-in capital 218,675,435 218,533,820

Accumulated deficit (231,241,344	) (223,573,673	)

Total stockholders’ deficit (11,965,181	) (5,039,135	)

Total liabilities and stockholders’
deficit $	2,568,861 $	3,279,249

See
accompanying notes which are an integral part of these financial statements.

BIOVENTRIX,
INC.

Consolidated
Statements of Operations

For the Year Ended December 31,

Operating income:

Sales $	- $	-

Cost of goods sold - -

Gross profit - -

Operating expenses:

Research and development 1,173,645 589,951

Selling, general and administrative 5,096,785 2,972,565

Total operating expenses 6,270.430 3,562,516

Loss from operations (6,270,430	) (3,562,516	)

Other expense:

Interest, net 1,391,294 309,971

Other 5,947 (21,813	)

Total other expense 1,397,241 288,158

Loss from operations before provision for income taxes (7,667,671	) (3,850,674	)

Provision for Income taxes - -

Net loss $	(7,667,671	) $	(3,850,674	)

Net loss per share – basic and diluted $	(1.35	) $	(0.72	)

Weighted average common shares outstanding – basic and diluted 5,696,603 5,355,663

See
accompanying notes which are an integral part of these financial statements.

BIOVENTRIX,
INC.

Statements
of Changes in Stockholders’ Deficit

Preferred
Stock Common
Stock Additional
Paid Accumulated Total
Stockholders’

Shares Amount Shares Amount In
Capital Deficit Deficit

Balances, January 1, 2024 1,565,000 $	157 5,000,971 $	500 $	218,147,685 $	(219,722,999	) $	(1,574,657	)

Stock-based
compensation expense 482,745 $	48 $	386,148 $	386,196

Issuance
of common shares to former Preferred A-1 shareholders 132,674 $	13 $	(13	) $	-

Net
Loss $	(3,850,674	) $	(3,850,674	)

Balances, December 31,

Stock-based
compensation expense 96,255 $	10 $	141,615 $	141,625

Net
loss $ $	(7,667,671	) $	(7,667,671	)

Balances,
December 31, 2025 1,565,000 $	157 5,712,645 $	571 $	218,675,435 $	(231,241,344	) $	(12,565,181	)

See
accompanying notes which are an integral part of these financial statements.

BIOVENTRIX,
INC.

Consolidated
Statements of Cash Flows

For the Year Ended December 31,

Cash flows from operating activities:

Net loss $	(7,667,671	) $	(3,850,674	)

Adjustments to reconcile net loss to net cash used in operating
activities:

Depreciation 45,195 45,195

Stock based compensation 141,625 386,196

Change in fair value of derivative liabilities 932 (28,731	)

Discount on convertible notes 305,669 17,837

Changes in operating assets and liabilities:

Accounts payable (382,475	) 289,984

Accrued liabilities 1,995,047 351,862

Lease liability (116,115	) (99,706	)

Lease asset 112,702 100,646

Deposits (100,000	) -

Prepaid expense (147,023	) 68,677

Net cash used in operating activities (5,812,114	) (2,718,714	)

Cash flows from investing activities:

Purchases of property and equipment - -

Net cash used in investing activities - -

Cash flows from financing activities:

Proceeds from convertible notes payable 5,012,600 4,710,000

Net cash provided by financing activities 5,012,600 4,710,000

Increase (Decrease) in cash and cash equivalents $	(799,514	) $	1,991,286

Cash and cash equivalents, start of year 2,637,635 646,349

Cash and cash equivalents, end of year $	1,838,121 $	2,637,635

Supplemental disclosure of cash flow information

Non-cash operating activities:

Derivative liability $	984,405 $	393,129

Non-cash financing activities:

Issuance of common shares to former A-1 shareholders $	- $	13

Cash paid during the year for:

Income taxes $	- $	-

See
accompanying notes which are an integral part of these financial statements.

BIOVENTRIX,
INC.

Notes
to Consolidated Financial Statements

December
31, 2025 and 2024

Note
1 – Organization and operations and basis of presentation: