SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: DRS
Document Type: DRS
Date Filed: 2025-08-05
Accession Number: 0001641172-25-022123
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000164117225022123/filename1.htm

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date of commencement of sales in this offering, at an exercise price equal to the initial public offering price of the shares of common stock. Please see “ Underwriting — Representative’s Warrant ” for further information. Listing We intend to apply to have our common stock listed on Nasdaq. No assurance can be given that our listing will be approved by Nasdaq or that a trading market will develop for our common stock. We will not proceed with this offering in the event that our common stock is not approved for listing on Nasdaq. Proposed Nasdaq symbol “BVXX” Risk Factors Investing in our common stock is speculative and involves a high degree of risk . See “ Risk Factors ” beginning on page 9 and the other information in this prospectus for a discussion of the factors you should consider carefully before you decide to invest in our common stock.

Lock-Up In
connection with this offering, we, our executive officers, directors, and our existing stockholders have agreed not to offer, sell
or otherwise transfer or dispose of any shares of our capital stock for a period of six (6) months following the closing of this
offering. See “ Underwriting ” beginning on page 114 for more information.

Transfer
Agent The
transfer agent and registrar for our common stock is Issuer Direct Corporation.

(1)	The
number of shares of our common stock to be outstanding upon completion of this offering will be shares assuming no exercise of the
over-allotment by the underwriters, which is based on 5,712,645 shares of our common stock outstanding as of the date of this prospectus,
which includes 5,529,454 shares of common stock being issued upon the closing of this offering in connection with the conversion
of: (i) 1,565,000 shares of our existing Series A Preferred Stock into 1,565,000 shares of common stock and (ii) $5,827,000 of our
existing convertible notes into 3,964,454 shares of our common stock, and excludes, as of the date of this prospectus:

●	shares
of common stock issuable upon the exercise of the Representative’s Warrant;

●	498,000 shares of our common stock reserved for issuance
under stock option agreements issued pursuant to 2024 Equity Incentive Plan; and

shares of our common stock (which is equal to         % of our issued and outstanding common
stock immediately after the consummation this offering) reserved for future issuance under our 2025 Equity Incentive Plan, which
will become effective as of the closing of this offering.

Unless
otherwise indicated, this prospectus reflects and assumes (i) no exercise by the underwriters of their over-allotment option and (ii)
no exercise of the outstanding stock options described above.

SUMMARY
OF CONSOLIDATED FINANCIAL INFORMATION

The
following tables set forth summary financial and other data for the periods ended and at the dates indicated below. Our summary financial
information for the three months ended March 31, 2025 and 2024 and as of March 31, 2025 has been derived from our unaudited interim
condensed financial statements included elsewhere in this prospectus. Our summary financial information for the years ended December
31, 2024 and 2023 and as of December 31, 2024 and 2023 has been derived from our audited financial statements included in this
prospectus. The financial data set forth below should be read in conjunction with “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” and the financial statements and notes thereto included elsewhere in this prospectus.

Statements
of Operations

For
the Three Months Ended March
31, 2025 For
the Three Months Ended March

Statement of Operations Data:

Gross (loss) profit $	- $	-

Operating expense 1,071,596 921,478

Operating loss (1,071,596	) (921,478	)

Other expenses 190,254 (5,253	)

Net loss before taxes (1,261,850	) (916,225	)

Income tax expense (benefit) - -

Net loss (1,261,850	) (916,225	)

Net loss per share of common stock:

Basic $	(0.22	) $	(0.18	)

Weighted-average shares of common stock outstanding:

Basic 5,635,667 5,034,140

For
the Year Ended December
31, 2024 For
the Year Ended December

Statement of Operations
Data:

Gross (loss) profit $	- $	178,376

Operating expense 3,562,516 14,067,537

Operating loss (3,562,516	) (13,889,161	)

Other expenses 299,052 569,945

Net loss before taxes (3,861,568	) (14,459,106	)

Income tax expense (benefit) - -

Net loss (3,861,568	) (14,459,106	)

Net loss per share of common stock:

Basic $	(0.72	) $	(3.18)

Weighted-average shares
of common stock outstanding:

Basic 5,355,663 4,551,195

Balance
Sheet

As of March 31, 2025 As of March 31, 2024

Balance Sheet Data:

Cash $	2.161,390 $	2,637,635

Working capital (deficit) $	(6,570,428	) $	(5,364,599	)

Total assets $	2,924,033 $	3,279,248

Total liabilities $	9,189,710 $	8,329,278

Additional paid-in capital $	218,580,017 $	218,533,820

Accumulated deficit $	(224,846,418	) $	(223,584,567	)

Total stockholders’ deficiency $	(6,265,677	) $	(5,050,030	)

of December 31, 2024 As
of December 31, 2023

Balance Sheet Data:

Cash $	2,637,635 $	646,349

Working capital (deficit) $	(5,364,600	) $	(1,930,557	)

Total assets $	3,279,249 $	1,502,481

Total liabilities $	8,329,278 $	3,077,138

Additional paid-in capital $	218,533,820 $	218,147,685

Accumulated deficit $	(223,584,567	) $	(219,722,999	)

Total stockholders’ deficiency $	(5,050,029	) $	(1,574,657	)

RISK
FACTORS

investment in our common stock is speculative and involves a high degree of risk. You should carefully consider the risks
described below, which we believe represent certain of the material risks to our business, together with the information contained elsewhere
in this prospectus, before you make a decision to invest in our shares of common stock. Please note that the risks highlighted here are
not the only ones that we may face. For example, additional risks presently unknown to us or that we currently consider immaterial or
unlikely to occur could also impair our operations. If any of the following events occur or any additional risks presently unknown to
us actually occur, our business, financial condition and operating results may be materially adversely affected. In that event, the trading
price of our securities could decline and you could lose all or part of your investment.

Risks
Related to Our Industry and Business

have a history of net losses, and we expect to continue to incur losses for the foreseeable future. If we ever generate revenue or achieve
profitability (of which no assurances can be given), we may not be able to sustain it.

have incurred significant losses since our inception and expect to continue to incur losses for the foreseeable
future. We have reported net losses of approximately $14.5 million, $3.9 million and $1.3 million for the years ended
December 31, 2023 and 2024, and the three months ended March 31, 2025, respectively. As a result of these losses, as of March
31, 2025, we had an accumulated deficit of approximately $224.8 million. To date, we have financed our operations
primarily through debt and equity financings. We expect to continue to incur significant research and development, regulatory, sales
and marketing and other expenses as we expand our marketing efforts to increase adoption of our product candidates, expand existing
relationships with our customers, obtain regulatory clearances or approvals for our planned or future product candidates, conduct
clinical trials on our existing and planned or future product candidates and develop new product candidates or add new features to
our existing product candidates. In addition, we expect our general and administrative expenses to increase following this offering
due to the additional costs associated with being a public company. The net losses that we incur may fluctuate significantly from
period to period. We will need to generate significant revenue in order to achieve and sustain profitability. Even if we ever
generate revenue or achieve profitability (of which no assurances can be given), we cannot be sure that such revenues
will continue or that we will remain profitable for any substantial period of time.

will require substantial additional capital to finance our planned operations, which may not be available to us on acceptable terms or
at all. Our failure to obtain additional financing when needed on acceptable terms, or at all, could force us to delay, limit, reduce
or eliminate our product development programs, commercialization efforts or other operations.