Financials

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current Assets    
Cash $ 227,960 $ 245,026
Accounts receivable 141,290 157,069
Other receivables 9,537 86,888
Inventory 206,495 294,714
Prepaid expenses 59,068 204,532
Short-term receivable 150,000
Total Current Assets 644,350 1,138,229
Property and Equipment, net of accumulated depreciation 66,551 87,173
Deposits 2,751 2,751
Total Assets 713,652 1,228,153
Current Liabilities    
Interest payable 80,709 69,222
Accounts payable 688,958 196,171
Accounts payable to related parties 69,503 12,319
Accrued payroll 124,817
Accrued liabilities 243,435 64,000
Notes payable, current portion 54,363 132,294
Short-term note payable, net of debt discount 533,128
Dividend payable 19,271
Unearned revenue 1,048
Total Current Liabilities 1,814,184 475,054
Long-Term Liabilities    
Notes payable, net of current portion 38,990
Deferred rent 67 688
Total Long-Term Liabilities 67 39,678
Total Liabilities 1,814,251 514,732
Stockholders' (Deficit) Equity    
Common stock - $.001 par value: 49,500,000 shares authorized, 23,473,314 and 21,163,013 shares issued at September 30, 2018 (unaudited) and December 31, 2017, respectively, 23,548,304 and 21,163,013 shares outstanding at September 30, 2018 and December 31, 2017, respectively 23,548 21,163
Additional paid-in capital 35,205,227 33,509,648
Accumulated deficit (36,329,383) (32,817,403)
Total Stockholders' (Deficit) Equity (1,100,599) 713,421
Total Liabilities and Stockholders' (Deficit) Equity 713,652 1,228,153
Series A Preferred Stock [Member]    
Stockholders' (Deficit) Equity    
Preferred stock value 13
Total Stockholders' (Deficit) Equity 13
Series B Preferred Stock [Member]    
Stockholders' (Deficit) Equity    
Preferred stock value 9
Total Stockholders' (Deficit) Equity $ 9

Source

v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Revenues $ 208,713 $ 117,277 $ 605,058 $ 117,277
Less: Discounts Allowed (2,554) (6,285)
Cost of Goods Sold (122,436) (96,683) (425,399) (96,683)
Gross Profit 83,723 20,594 173,374 20,594
Operating Expenses        
General and administrative 943,988 1,092,084 2,708,273 3,540,500
Sales and marketing 215,039 216,950 666,092 444,708
Research and development 46,219 70,151 201,529 461,924
Depreciation 6,728 7,109 20,622 20,000
Total Operating Expenses 1,211,974 1,386,294 3,596,516 4,467,132
Operating Loss (1,128,251) (1,365,700) (3,423,142) (4,446,538)
Other Expenses        
Foreign currency transaction loss 3,849 15,881
Interest expense 40,197 1,654 72,957 393,890
Total Other Expenses 44,046 1,654 88,838 393,890
Total Loss from Continuing Operations (1,172,297) (1,367,354) (3,511,980) (4,840,428)
Discontinued Operations        
Loss from discontinued operations 1,163
Total Loss from Discontinued Operations (1,163)
Net Loss (1,172,297) (1,367,354) (3,511,980) (4,841,591)
Dividend on outstanding Series B Preferred stock (11,563) (19,271)
Deemed dividend on beneficial conversion features (259,350)
Net loss attributable to common shareholders $ (1,183,860) $ (1,367,354) $ (3,790,601) $ (4,841,591)
Loss per share - Basic:        
Continuing Operations $ (0.05) $ (0.07) $ (0.16) $ (0.26)
Discontinued Operations
Net Loss per share (0.05) (0.07) (0.16) (0.26)
Loss per share - Diluted:        
Continuing Operations (0.05) (0.07) (0.17) (0.26)
Discontinued Operations
Net Loss per share $ (0.05) $ (0.07) $ (0.17) $ (0.26)
Weighted average outstanding shares used to compute basic net loss per share 23,473,314 20,504,932 22,786,208 18,332,398
Weighted average outstanding shares used to compute diluted net loss per share 23,473,314 20,504,932 22,786,208 18,332,398

Source

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities    
Net loss $ (3,511,980) $ (4,841,591)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 20,622 20,000
Amortization of debt discount 53,353 31,772
Debt conversion expense 355,985
Stock-based compensation 107,315 611,522
Non-cash consulting services 24,000
Straight-line rent adjustment (621) (196)
Changes in operating assets and liabilities, net of effects of disposition:    
Accounts receivable 15,779 (94,779)
Other receivables 77,351 (23,369)
Prepaid expenses 145,464 224,416
Inventory 88,219 (164,867)
Accounts payable 492,787 43,106
Accounts payable to related parties 57,184 671
Interest payable 11,487
Unearned revenue (1,048)
Accrued payroll 124,817
Accrued liabilities 179,435 (84,800)
Net Cash Used in Operating Activities (2,115,836) (3,922,130)
Cash Flows from Investing Activities    
Payment received from Streamline note receivable 150,000
Expenditures for property and equipment (14,808)
Net Cash Provided by (Used in) Investing Activities 150,000 (14,808)
Cash Flows from Financing Activities    
Principal payments under note payable obligations (215,730) (112,342)
Proceeds from issuance of common stock and preferred stock, net of offering costs 901,291 3,838,671
Proceeds from issuance of warrants, net of offering costs 238,855 1,248,575
Proceeds from issuance of convertible debt 74,354
Proceeds from issuance of short term loan 950,000
Net Cash Provided by Financing Activities 1,948,770 4,974,904
Net Increase/(Decrease) in Cash (17,066) 1,037,966
Cash - Beginning of period 245,026 892,814
Cash - End of period 227,960 1,930,780
Supplementary Cash Flow Information    
Cash paid for interest 4,768 6,130
Non-cash investing and financing activities    
Financing agreement for insurance policy 74,672 66,895
Conversion of convertible note and accrued interest to common stock 101,194 718,079
Conversion of short-term loan to common stock 126,720
Conversion of short-term loan to preferred stock and warrants 100,000
Issuance of warrants for conversion of notes 305,201
Common stock issued for board fees 240,000
Issuance of common stock for preferred stock conversion 1,274 931
Issuance of common stock warrants for placement agent fees 304,183
Issuance of common stock for consideration of cancellation of warrants 208,000
Issuance of warrants for promissory note 25,646
Dividends accrued 19,271
Issuance of warrants for Bridge Loan $ 244,576

Source

Disclaimer

Medovex Corp. maintains this website as a service to the financial and internet communities. The site is intended to provide general information about the Company. It is not designed to be a source for making investment decisions. Medovex will make every reasonable effort to include accurate and current information on this website.

Except for the historical information contained herein, the information on the site may include forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. More complete information is contained in the company’s SEC filings.

Neither Medovex Corp nor any party involved in creating, producing or delivering this site shall be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of the user’s access, use, or liability to use the Company’s website, or any errors or omissions in the content of the Medovex Corp website.

Terms of Use
General

Medovex Corp. (“the Company”) has made a reasonable effort to provide accurate and current information on this website.

It is important to note that nothing on our website constitutes or should be construed as investment advice. Date and information presented is not furnished in connection with any sale, offer of sale, solicitation or an offer to buy a security.

Solicited Policy

Neither Medovex nor any of its employees accept or consider unsolicited ideas regarding marketing, technologies or product names. The goal is to avoid any potential misunderstandings when Medovex’s products or marketing strategies might appear similar to ideas submitted to the Company.

No Offer or Advice

This website does not constitute an offer to sell or a solicitation of an offer to buy any security referenced on this website. Medovex’s management never represents that a security, product or service discussed here, are suitable for any particular investor. We do not guarantee the accuracy, completeness or timeliness. We strongly advise that all individuals be aware of the risks involved in every business and stock. You can help protect yourself by being an educated investor by closely examining Company documents filed with the Securities and Exchange Commission (SEC) as well as all other documents that have been published.

Limitation of Liability – SEC Rule 606

Use of this website is at the viewer’s own risk. Its content including but not limited to: any graphics, links or other terms are provided on an “as is” basis without warranties or representations of any kind. The Company expressly disclaims any liability for any errors or omissions in the content included in this website. All changes (should and when they may occur) are effective immediately upon posting to this website.

Archived and Forward Information

Any reports filed with the SEC may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks, some of which may be outside the Company’s control and may include economic, political and market fluctuations. Medovex undertakes no obligation to update or revise publicly any forward looking statement whether as a result of new information, future events or otherwise.

The Company strongly recommends readers carefully review all other documents and periodic reports filed by the Company with the SEC.

Medovex cannot and does not guarantee or warrant that files available for downloading (if any) through this site will be free of infection by software viruses or other harmful computer code, files or programs.