SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-03-18
Accession Number: 0001493152-26-010642
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226010642/forms-1a.htm

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9. October 2025, the Company issued 150,000 incentive stock options to two officers of the Company of which 9,375 vested, resulting in $5,581 of stock-based compensation expense recorded in 2025. The remaining 140,625 stock options will vest monthly through September 2029. See Note 9. BIOVENTRIX, INC. Notes to Consolidated Financial Statements December 31, 2025 and 2024 October 2025, the Company issued 25,000 non-qualified stock options to one officer of the Company of which 1,563 vested, resulting in $930 of stock-based compensation expense recorded in 2025. The remaining 23,437 stock options will vest monthly through September 2029. See Note 9. October 2025, the Company issued 90,000 non-qualified stock options to three members of the Company’s board of directors of which 5,625 vested, resulting in $3,348 of stock-based compensation expense recorded in 2025. The remaining 84,375 stock options will vest monthly through September 2029. See Note 9. Note 8 – Income taxes:

There
is no provision for federal income taxes because the Company has incurred cumulative operating losses from the date of inception. The
Company has made tax payments consisting of the state minimum tax. A reconciliation between the expected income tax provision at the
federal statutory tax rate and the reported income tax provision is as follows:

Federal income
tax at statutory rate (21.0	)% (21.0	)%

State income tax net of federal
benefit (7.5	)% (6.3	)%

Change in valuation allowance 22.6	% 22.0	%

Permanent differences 0.1	% 0.0	%

Research and development incentive (0.7	)% 0.0	%

Net operating loss expiration 6.5	% 5.3	%

Stock
compensation conversion 0.0	% 0.0	%

Effective
income tax rate 0.0	% 0.0	%

BIOVENTRIX,
INC.

Notes
to Consolidated Financial Statements

December
31, 2025 and 2024

The
tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities
as of December 31, 2025, and 2024, are related to the following:

Deferred tax
assets: 2025 2024

Net operating
loss carryforwards $	40,823,025 $	38,505,661

Capitalized
research and development 4,181,056 4,967,980

Research
and development credits 1,221,154 1,174,548

Stock
compensation 144,201 105,509

Lease
liability 67,830 99,552

Inventory - 80,600

Fixed
assets 2,173 -

Less
valuation allowance (46,366,955	) (44,836,353	)

Deferred tax liabilities

Fixed
assets $	- $	(3,385	)

Other (9,159	) -

Right-of-use
assets (63,325	) (94,112	)

Net
deferred tax asset - $	-

The
Company has incurred significant tax losses since inception. Based on the available objective evidence, management cannot conclude it
is more likely than not that the net deferred tax assets will be fully realized. Accordingly, the Company has provided a full valuation
allowance against its net deferred tax assets.

of December 31, 2025, the Company had net operating loss carryforwards of $183,803,545 for federal tax purposes available to reduce future
taxable income, if any. These carryforwards will expire as follows:

Thereafter 59,850,050

Indefinite 107,376,097

BIOVENTRIX,
INC.

Notes
to Consolidated Financial Statements

December
31, 2025 and 2024

of December 31, 2025, the Company had net operating loss carryforwards of $35,194,306 for state
tax purposes available to reduce future taxable income, if any. These carryforwards will expire as follows:

Benefits
from net operating loss carryforwards may be impaired or limited in certain circumstances. Events
which may cause, or may have caused, limitation in the amount of net operating losses that the Company may utilize in any one year include
but are not limited to a cumulative ownership change of more than 50% over a three-year period. The impact of any limitations that may
be imposed due to current or future issuances of equity securities, including issuances with respect to acquisitions, has not been determined.

of December 31, 2025, and 2024 the Company has research development credit carryforwards of $1,221,154 for federal and state tax purposes.
If not utilized, the federal carryforward will expire in beginning in 2039.

The
Company does not have any unrecognized tax benefits as of December 31, 2025. The Company did not recognize any expense for interest and
penalties related to uncertain tax positions during 2025, and the Company does not have any amounts related to interest and penalties
accrued at December 31, 2025.

The
Company’s income tax returns for the years ending December 31, 2022, and later, remain open for examination. Carryforward attributes
from prior years may be adjusted upon examination by tax authorities if they are used in an open period.

Note
9 – Capital stock:

The
Company’s Third Amendment to the Amended and Restated Certificate of Incorporation, was filed on March 29, 2023, stating the total
number of shares of all classes of stock which the corporation shall have authority to issue is 12,000,000 shares of common stock, $0.0001
par value per share and 4,850,000 shares of preferred stock, $0.0001 par value per share.

Total
shares as of January 1, 2024, were as follows:

Class
of Security Shares
Authorized Shares
Outstanding Shares

Available

Common 10,500,000 5,000,971 5,499,029

Common Stock Options 1,500,000 - 1,500,000

Series
A Preferred 4,850,000 1,565,000 3,285,000

January

BIOVENTRIX,
INC.

Notes
to Consolidated Financial Statements

December
31, 2025 and 2024

April 2024, the Company repurchased 225,900 Series A Preferred shares from three investors. The Company issued these 225,900 Sweetener
Shares to certain purchasers of Series A Secured Convertible Notes. See Note 7.

Also,
in April 2024, the Company issued 348,000 shares of restricted common stock to certain officers, directors and consultants of the Company.
The restricted stock was valued at $0.80 per share based on an independent 409A valuation received from a global financial advisory firm
specializing in corporate finance and business enterprise valuations. As the restricted shares fully vested by December 31, 2024, the
Company recorded $278,400 in selling, general administration expenses in 2024. See Note 7.

June 2024, the Company issued 132,674 shares of common stock to former Series A-1 preferred stock shareholders that were owed shares
due to a miscalculation of shares issued as part of the re-capitalization of the Company on February 2, 2023. There was no additional
cash received by the Company for the issuance of these shares.

August 2024, the Company amended its Certificate of Incorporation to increase the number of authorized shares of common stock to 25,000,000
and preferred stock to 12,500,000 shares of which 6,000,000 were designated Series A and 6,500,000 were designated blank check preferred
stock.

August 2024, the Company adopted the 2024 Equity Incentive Plan (the “2024 Plan”), which provides for the granting of incentive
stock options, nonstatutory stock options and restricted stock awards to employees, directors and consultants of the Company and its
affiliates. See Note 10.

September 2024, the Company issued 231,000 shares of restricted common stock to certain officers, directors and consultants of the Company.
The restricted stock was valued at $0.80 per share based on an independent 409A valuation received from a global financial advisory firm
specializing in corporate finance and business enterprise valuations. As 134,745 shares vested by December 31, 2024, the Company recorded
$107,796 in selling, general administration expenses in 2024. The remaining 96,255 shares vested in 2025. See Note 7.

October 2024, the Company filed Certificate of Designations of Series A-1 Preferred Stock providing for the authorization of 1,200,000
shares of Series A-1 Preferred Stock from the authorized but undesignated Blank Check Preferred Stock.

BIOVENTRIX,
INC.

Notes
to Consolidated Financial Statements

December
31, 2025 and 2024

a result of the above transactions, total shares as of December 31, 2024, were as follows:

Class
of Security Shares
Authorized Shares
Outstanding Shares
Available

Common 23,500,000 5,616,390 17,883,610

Common Stock Options 1,500,000 - 1,500,000

Series A Preferred 6,000,000 1,565,000 4,435,000

Series A-1 Preferred 1,200,000 - 1,200,000

Blank
Check Preferred 5,300,000 - 5,300,000

December

January 2025, the Company granted 413,000 incentive stock options to officers under the Company’s equity incentive plan. The options
have an exercise price equal to the fair value of the Company’s common stock on the grant date. Of the total options granted, 103,250
vested in 2025 and the remaining 309,750 vest in equal monthly installments through December 2028, subject to continued service. The
options are equity-classified awards.

The
weighted-average grant-date fair value of the options was $0.39 per share, resulting in an aggregate grant-date fair value of $159,808.
The fair value was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: expected volatility
of 50%, expected term of 6 years, risk-free interest rate of 4.62%, and an expected dividend yield of 0%.

The
Company recognized $39,952 of stock-based compensation expense related to these options during the year ended December 31, 2025, which
was recorded in selling, general and administrative expenses. As of December 31, 2025, total unrecognized compensation cost related to
unvested stock options was $119,856, which is expected to be recognized over a weighted-average remaining vesting period of 3.0
years. See Note 7.