| Delaware (State or other jurisdiction of incorporation or organization) | | | 3845 (Primary Standard Industrial Classification Code Number) | | | 36-4787690 (I.R.S. Employer Identification Number) | |
| Phillip D. Torrence, Esq. Honigman LLP 650 Trade Centre Way, Suite 200 Kalamazoo, Michigan 49002 (269) 337-7700 | | | Loeb & New York, NY (212) | |
| Large accelerated filer | | | ☐ | | | Accelerated filer | | | ☐ | |
| Non-accelerated filer | | | ☒ | | | Smaller reporting company | | | ☒ | |
| | | | | | | Emerging growth company | | | ☐ | |
| | | Per Share and and Series B Warrant | | | Per Pre-Funded Warrant and Series A Warrant and Series B Warrant | | | Total | | |||||||||
Public offering price | | | | $ | | | | | $ | | | | | $ | | | |||
Placement Agent | | | | $ | | | | | $ | | | | | $ | | | |||
Proceeds to us before offering | | | | $ | | | | | $ | | | | | $ | | | |
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PCT application | | | US Priority document(s) (filing date) | | | Foreign patents/ *patent applications | |
WO2016/089751A1 (PCT/US2015/062950) | | | 14/559,080 (3 December 2014) 14/559,123 (3 December 2014) 14/559,118 (3 December 2014) 14/559,105 (3 December 2014) | | | AU2015355211B2 AU2017218934B2 AU2017276270B2 AU2018204184B2 | |
Title: Systems and Methods for Providing Non-Invasive Neurorehabilitation of a Patient | | | | | | AU2018247259B2 CA2969729C EP3226962B1 EP3662969B1 IL252648B | |
WO2016/089752A1 (PCT/US2015/062953) | | | 14/557,787 (3 December 2014) 14/557,789 (3 December 2014) 14/559,045 (3 December 2014) | | | AU2015355212B2 AU2017228517B2 AU2019200175B2 AU2019246836B2 | |
Title: Devices for Delivering Non-Invasive Neuromodulation to a Patient | | | | | | CA2969731C EP3226961B1 EP19190373.1A* IL252649A0 | |
WO2016/089795A1 (PCT/US2015/063059) | | | 14/559,080 (3 December 2014) 14/559,123 (3 December 2014) 14/559,118 (3 December 2014) 14/559,105 (3 December 2014) | | | N/A | |
Title: Methods of Manufacturing Devices for the Neurorehabilitation of a Patient | | | | | | | |
WO2020/176954 (PCT/US2020/019853) | | | 62/812,185 (28 February 2019) | | | AU2020228618A1* CA3131684A1* CN113728393A* | |
Title: Computer Systems and Methods for Enhancing Neurorehabilitation | | | | | | EP20712806.7A* IL285901A* UK2596678B | |
Mark | | | Country | | | Registration Number | | | Application Number | |
PONS | | | U.S. | | | 4,998,391 | | | 86978547 | |
PONS | | | U.S. | | | 5,845,725 | | | 86440699 | |
PONS THERAPY | | | U.S. | | | 7,219,613 | | | 97124824 | |
HELIUS | | | U.S. | | | 7,231,015 | | | 88443662 | |
HELIUS MEDICAL | | | U.S. | | | pending | | | 88443664 | |
PONS | | | Australia | | | 1923122 | | | 1923122 | |
Mark | | | Country | | | Registration Number | | | Application Number | |
HELIUS | | | Canada | | | pending | | | 1996550 | |
PONS | | | Europe | | | 15004799 | | | 15004799 | |
PONS | | | Israel | | | 306606 | | | 306606 | |
PONS | | | New Zealand | | | 1091833 | | | 1091833 | |
PONS | | | Russia | | | 634298 | | | 2015712398 | |
PONS | | | Russia | | | 674026 | | | 2010729117 | |
PONS | | | Russia | | | 653065 | | | 2017727589 | |
| | As of March 31, 2022 (in thousands) | | | As of December 31, 2023 (in thousands) | | ||||||||||||||||||||
| | Actual | | Pro Forma | | | Actual | | As adjusted | | ||||||||||||||||
Cash | | | $ | 6,310 | | | | $ | | | ||||||||||||||||
Cash and cash equivalents | | | $ | 5,182 | | | | $ | 12,292 | | | |||||||||||||||
Stockholders’ (deficit) equity: | | | | | | | | | | | | | | | | | | | | | | | ||||
Preferred Stock, $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding as of March 31, 2022 | | | | | | | | | | | | |||||||||||||||
Class A common stock, $0.001 par value, 150,000,000 shares authorized; 3,794,797 shares issued and outstanding as of March 31, 2022 | | | | 4 | | | | | | | | |||||||||||||||
Preferred Stock, $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding as of December 31, 2023 | | | | — | | | | | — | | | |||||||||||||||
Class A Common Stock, $0.001 par value, 150,000,000 shares authorized; actual 714,590 shares issued and outstanding as of December 31, 2023; as adjusted 2,516,391 shares issued and outstanding as of December 31, 2023 | | | | 1 | | | | | 3 | | | |||||||||||||||
Additional paid-in capital | | | | 149,834 | | | | | | | | | | | 162,979 | | | | | 170,087 | | | ||||
Accumulated other comprehensive loss | | | | (1,327) | | | | | | | | | | | (673) | | | | | (673) | | | ||||
Accumulated deficit | | | | (141,381) | | | | | | | | | | | (159,957) | | | | | (159,957) | | | ||||
Total stockholders’ equity | | | $ | 7,130 | | | | $ | | | | | $ | 2,350 | | | | $ | 9,460 | | |
| Assumed public offering price per share (attributing no value to the Warrants) | | | $ | | | Assumed public offering price per share (attributing no value to the Public Warrants) | | | $ | 4.44 | | | |||
| Net tangible book value per share as of March 31, 2022 | | | $ | 1.60 | | | Net tangible book value per share as of December 31, 2023 | | | $ | 3.25 | | | ||
| Increase in pro forma as adjusted net tangible book value per share after this offering | | | $ | | | Increase in as adjusted net tangible book value per share after this offering | | | $ | 0.50 | | | |||
| Pro forma as adjusted net tangible book value per share after giving effect to this offering | | | $ | | | Adjusted net tangible book value per share after giving effect to this offering | | | $ | 3.75 | | | |||
| Dilution in pro forma as adjusted net tangible book value per share to new investors | | | $ | | | | Dilution in adjusted net tangible book value per share to new investors | | | $ | (0.69) | | |
| | | Beneficial Ownership(1) | | |||||||||
Beneficial Owner | | | Number of Shares of Common Stock | | | Percent of Total | | ||||||
Columbus Capital Management LLC(2) | | | | | 324,684 | | | | | | 7.7% | | |
AIGH Capital Management, LLC(3) | | | | | 192,950 | | | | | | 4.6% | | |
Maple Leaf Capital I, LLC(4) | | | | | 189,416 | | | | | | 4.5% | | |
Antonella Favit-Van Pelt(5) | | | | | 9,500 | | | | | | * | | |
Sherrie Perkins(6) | | | | | 10,914 | | | | | | * | | |
Edward M. Straw(7) | | | | | 20,669 | | | | | | * | | |
Mitchell E. Tyler(8) | | | | | 30,712 | | | | | | * | | |
Blane Walter(9) | | | | | 22,876 | | | | | | * | | |
Paul Buckman(10) | | | | | 9,909 | | | | | | * | | |
Jeffrey S. Mathiesen(11) | | | | | 63,701 | | | | | | 1.5% | | |
Dane C. Andreeff(12) | | | | | 419,729 | | | | | | 9.4% | | |
All current executive officers and directors as a group (8 persons)(13) | | | | | 588,009 | | | | | | 12.9% | | |
| | | Per Share and accompanying Series A Warrant and Series B Warrant | | | Per Pre-Funded Warrant and accompanying Series A Warrant and Series B Warrant | | | Total | | |||||||||
Public Offering Price | | | | $ | | | | | $ | | | | | $ | | | |||
Placement agent fees | | | | $ | | | | | $ | | | | | $ | | | |||
Proceeds, before expenses, to us | | | | $ | | | | | $ | | | | | $ | | | |
| | | Amount | | |||
SEC registration fee | | | | $ | 1,390.50 | | |
FINRA filing fee | | | | $ | * | | |
Printing expenses | | | | $ | * | | |
Accounting fees and expenses | | | | $ | * | | |
Legal fees and expenses | | | | $ | * | | |
Transfer agent fees and expenses | | | | $ | * | | |
Miscellaneous fees and expenses | | | | $ | * | | |
Total | | | | $ | * | | |
| | | Amount | | |||
SEC registration fee | | | | $ | 4,797.00 | | |
FINRA filing fee | | | | $ | 5,375.00 | | |
Printing expenses | | | | $ | 50,000.00 | | |
Accounting fees and expenses | | | | $ | 65,000.00 | | |
Legal fees and expenses | | | | $ | 200,000.00 | | |
Transfer agent fees and expenses | | | | $ | 2,000.00 | | |
Miscellaneous fees and expenses | | | | $ | 2,828.00 | | |
Total | | | | $ | 330,000.00 | | |
| Signature | | | Title | | | Date | |
| /s/ Dane C. Andreeff Dane C. Andreeff | | | President, Chief Executive Officer (Principal Executive Officer) and Director | | | | |
| /s/ Jeffrey S. Mathiesen Jeffrey S. Mathiesen | | | Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) and Director | | | | |
| Edward M. Straw | | | Director | | | | |
| Sherrie Perkins | | | Director | | | | |
| Paul Buckman | | | Director | | | | |
| Blane Walter | | | Director | | | |
| *By: | | | /s/ Dane C. Andreeff Attorney-in-fact | | | | | | | |