SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: DRS/A
Document Type: DRS/A
Date Filed: 2025-12-12
Accession Number: 0001493152-25-027406
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315225027406/filename1.htm

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not extend to acquirers of securities. United Kingdom The securities may not be made in the United Kingdom, except that an offer to the public of any securities may be made in the United Kingdom at any time: any legal entity which is a qualified investor as defined under Article 2 of the UK Prospectus Regulation; fewer than 150 natural or legal persons (other than qualified investors as defined under Article 2 of the UK Prospectus Regulation), subject to obtaining the prior consent of the Representative for any such offer; or any other circumstances falling within Section 86 of the Financial Services and Markets Act 2000 (as amended, the “FSMA”); provided that no such offer of securities shall result in the requirement for the publication by us of a prospectus pursuant to Section 85 of the FSMA or supplement a prospectus pursuant to Article 23 of the UK Prospectus Regulation.

For
the purposes of this provision, the expression an “offer to the public” in relation to the any securities in the United Kingdom
means the communication in any form and by any means of sufficient information on the terms of the offer and the securities to be offered
so as to enable an investor to decide to purchase or subscribe for the securities, and the expression “UK Prospectus Regulation”
means Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

This
prospectus is only being distributed to and is only directed at: (1) persons who are outside the United Kingdom; (2) investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”);
or (3) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (ed) of
the Order (all such persons falling within (1)-(3) together being referred to as “relevant persons”). The securities are
only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire the securities will be engaged
in only with, relevant persons. Any person who is not a relevant person should not act or rely on this prospectus or any of its contents.

LEGAL
MATTERS

The
validity of the issuance of the securities offered by us in this offering will be passed upon for us by Ellenoff Grossman &
Schole LLP, New York, New York. The underwriters are being represented by McGuireWoods LLP, New York, New York.

EXPERTS

CPAS, PLLC, our independent registered public accounting firm, has audited our consolidated balance sheets as of December 31, 2024 and
2023, and the related consolidated statements of operations, changes in stockholders’ equity and cash flows for the years ended
December 31, 2024 and 2023, as set forth in their report dated October 3, 2025. We have included our consolidated financial statements
in this prospectus and in this registration statement in reliance on M&K CPA PLLC’s report given on their authority as experts
in accounting and auditing.

WHERE
YOU CAN FIND MORE INFORMATION

have filed with the SEC a registration statement on Form S-1 under the Securities Act with respect to the shares of common stock offered
hereby. This prospectus, which constitutes a part of the registration statement, does not contain all of the information set forth in
the registration statement or the exhibits filed therewith. For further information about us and the common stock offered hereby, reference
is made to the registration statement and the exhibits filed therewith. Statements contained in this prospectus concerning the contents
of any contract or any other document are not necessarily complete, please see the copy of the contract or document that has been filed
for the complete contents of that contract or document. Each statement in this prospectus relating to a contract or document filed as
an exhibit is qualified in all respects by the filed exhibit. The exhibits to the registration statement should be reviewed for the complete
contents of these contracts and documents.

currently do not file periodic reports with the SEC. Upon the completion of this offering, we will be required to file periodic reports,
proxy statements and other information with the SEC pursuant to the Exchange Act. The SEC maintains a website that contains reports,
proxy and information statements and other information regarding registrants that file electronically with the SEC. The address of the
website is www.sec.gov.

also maintain a website at www.bioventrix.com. Upon completion of this offering, you may access these materials at our website
free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained
in, or that can be accessed through, our website is not a part of, and is not incorporated into, this prospectus.

INDEX
TO CONSOLIDATED FINANCIAL STATEMENTS

BIOVENTRIX,
INC.

CONSOLIDATED

FINANCIAL
STATEMENTS

Table
of Contents

Three and Nine Months Ended

September 30, 2025 and 2024

Consolidated
Financial Statements (unaudited):

Consolidated
Balance Sheets (unaudited) F-2

Consolidated
Statements of Operations (unaudited) F-3

Consolidated
Statements of Changes in Stockholders’ Deficit (unaudited) F-4

Consolidated
Statements of Cash Flows (unaudited) F-5

Notes
to Consolidated Financial Statements F-6

Years Ended

December 31,
2024 and 2023

Report of Independent Registered Accounting Firm F-18

Consolidated Financial
Statements:

Consolidated Balance Sheets F-19

Consolidated Statements of Operations F-20

Consolidated Statements of Changes in Stockholders’ Deficit F-21

Consolidated Statements of Cash Flows F-22

Notes to Consolidated Financial Statements F-23

BIOVENTRIX,
INC.

Consolidated
Balance Sheets

(unaudited)

September 30, December 31,

ASSETS

Current assets:

Cash and cash equivalents $	1,958,867 $	2,637,635

Inventory 200,961 -

Prepaid expenses 214,050 104,711

Total current assets 2,373,878 2,742,346

Long-term assets:

Property and equipment, net 112,988 146,884

Lease right of use asset 261,113 344,487

Deposits 145,532 45,532

Total long-term assets 519,633 536,903

Total assets $	2,893,511 $	3,279,249

LIABILITIES AND STOCKHOLDERS’ DEFICIT

Current liabilities:

Accounts payable $	2,589,082 $	2,420,632

Accrued liabilities 1,566,624 784,350

Lease liability, current 145,238 142,061

Convertible notes 8,417,559 4,710,000

Discount on convertible notes ( 961,356	) (375,292	)

Total current liabilities 11,834,597 7,731,654

Long-term liabilities:

Derivative liability 1,069,708 364,398

Lease liability, non-current 133,961 222,332

Total long-term liabilities 1,203,669 586,730

Total liabilities 13,038,266 8,318,384

Stockholders’ deficit:

Common stock, $0.0001 par value, 25,000,000 shares authorized; 5,712,645 and 5,616,390 shares issued
and outstanding at September 30, 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 September 30, 2025 and December 31, 2024, respectively 157 157

Additional paid-in capital 218,646,960 218,533,820

Accumulated deficit ( 228,792,443	) (223,573,673	)

Total stockholders’ deficit ( 10,144,755	) (5,039,135	)

Total liabilities and stockholders’ deficit $	2,893,511 $	3,279,249

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

BIOVENTRIX,
INC.

Consolidated
Statements of Operations

(unaudited)

For the Three Months Ended September 30, For the Nine Months Ended September

Operating income:

Sales $	- $	- $	- $	-

Cost of goods sold - - - -

Gross profit - - - -

Operating expenses:

Research and development 313,242 78,661 795,590 471,686

Selling, general and administrative 1,427,202 793,695 3,566,799 2,036,539

Total operating expenses 1,740,444 872,356 4,362,389 (2,508,225	)

Loss from operations (1,740,444	) (872,356	) (4,362,389	) (2,508,225	)

Other expense (income):

Interest, net 340,789 195,828 851,020 171,626

Other 23,057 621 5,361 (1,238	)

Total other expense (income) 363,846 196,449 856,381 170,388

Loss from operations before provision for income taxes (2,104,290	) (1,068,805	) (5,218,770	) (2,678,613	)

Provision for Income taxes - - - -

Net loss $	(2,104,290	) $	(1,068,805	) $	(5,218,770	) $	(2,678,613	)

Net loss per share – basic and diluted $	(0.37	) $	(0.19	) $	(0.92	) $	(0.51	)

Weighted average common shares outstanding – basic and diluted 5,712,645 5,505,077 5,691,216 5,285,569

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

BIOVENTRIX,
INC.

Consolidated
Statements of Changes in Stockholders’ Deficit

(unaudited)

Preferred Stock Common Stock Additional Paid Accumulated Total Stockholders’

Shares Amount Shares Amount In Capital Deficit Deficit

Balances, December 31, 2023 1,565,000 $	157 5,000,971 $	500 $	218,147,685 $	(219,722,999	) $	(1,574,657	)

Stock-based compensation expense 424,992 $	42 $	339,952 $	339,994

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

Net Loss $	(2,678,613	) $	(2,678,613	)

Balances, September 30, 2024 1,565,000 $	157 5,558,637 $	555 $	218,487,624 $	(222,401,612	) $	(3,913,276	)

Balances, December 31, 2024 1,565,000 $	157 5,616,390 $	561 $	218,533,820 $	(223,573,673	) $	(5,039,135	)

Stock-based compensation expense 96,255 $	10 $	113,140 $	113,150

Net loss $ $	(5,218,770	) $	(5,218,770	)

Balances, September 30, 2025 1,565,000 $	157 5,712,645 $	571 $	218,646,960 $	(228,792,443	) $	(10,144,755	)

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

BIOVENTRIX,
INC.

Consolidated
Statements of Cash Flows

(unaudited)

For the Nine Months Ended September 30,

Cash flows from operating activities:

Net loss $	(5,218,770	) $	(2,678,613	)