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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nemaura Medical Inc | NASDAQ:NMRD | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.1053 | 0.11 | 0.13 | 0 | 01:00:00 |
Nemaura Medical Inc.
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(Exact name of small business issuer as specified in its charter)
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NEVADA
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46-5027260
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(State or other jurisdiction of incorporation or organization)
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(I.R.S. Tax. I.D. No.)
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Advanced Technology Innovation Centre,
Loughborough University Science and Enterprise Parks,
5 Oakwood Drive,
Loughborough, Leicestershire
LE11 3QF
United Kingdom
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(Address of Principal Executive Offices)
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+ 00 44 1509 222912
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(Registrant’s Telephone Number, Including Area Code)
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Large accelerated filer
☐
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Accelerated filer
☑
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Non-accelerated filer
☐
(Do not check if a smaller reporting company)
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Smaller reporting company
☐
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Emerging growth company
☑
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Page
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PART I: FINANCIAL INFORMATION
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3
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ITEM 1
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INTERIM FINANCIAL STATEMENTS
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3
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Condensed Consolidated Balance Sheets as of September 30, 2017 (unaudited) and March 31, 2017
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3
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Condensed
Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended September 30, 2017 and 2016 (unaudited)
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4
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Condensed
Consolidated Statements of Cash Flows for the Six Months Ended September 30, 2017 and 2016 (unaudited)
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5
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Notes to Condensed Consolidated Financial Statements (unaudited)
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6
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ITEM 2
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
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12
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ITEM 3
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QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
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15
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ITEM 4
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CONTROLS AND PROCEDURES
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16
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PART II: OTHER INFORMATION
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18
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ITEM 1
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LEGAL PROCEEDINGS
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18
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ITEM 1A
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RISK FACTORS
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18
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ITEM 2
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UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
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18
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ITEM 3
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DEFAULTS UPON SENIOR SECURITIES
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18
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ITEM 4
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MINE SAFETY DISCLOSURES
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18
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ITEM 5
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OTHER INFORMATION
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18
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ITEM 6
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EXHIBITS
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18
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SIGNATURES
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19
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NEMAURA MEDICAL INC.
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As of September 30,
2017
($)
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As of March 31,
2017
($)
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|||||||
(Unaudited)
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||||||||
ASSETS
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||||||||
Current Assets:
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||||||||
Cash
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597,539
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911,359
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||||||
Fixed rate cash account
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1,350,738
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1,867,950
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||||||
Prepaid expenses and other receivables
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71,844
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51,086
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||||||
Total Current Assets
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2,020,121
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2,830,395
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||||||
Other Assets:
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||||||||
Property and equipment, net
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7,683
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9,161
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||||||
Intangible assets, net of accumulated amortization
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232,138
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203,800
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||||||
239,821
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212,961
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|||||||
Long Term Assets:
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||||||||
Fixed rate cash account
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4,735,241
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4,358,550
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||||||
Total assets
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6,995,183
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7,401,906
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||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
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||||||||
Current Liabilities:
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||||||||
Accounts payable
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142,604
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77,530
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||||||
Liability due to related party
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507,376
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687,609
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||||||
Other liabilities and accrued expenses
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144,646
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87,232
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||||||
Total current liabilities
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794,626
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852,371
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||||||
Deferred revenue
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1,272,811
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1,183,035
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||||||
1,272,811
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1,183,035
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|||||||
,
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||||||||
Total liabilities
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2,067,437
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2,035,406
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||||||
Commitments and contingencies:
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||||||||
Stockholders’ Equity:
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||||||||
Common stock, $0.001 par value, 420,000,000 shares authorized and 205,000,000
shares issued and outstanding
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205,000
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205,000
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||||||
Additional paid in capital
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12,919,672
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12,919,672
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||||||
Accumulated deficit
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(7,953,451
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)
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(7,152,633
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)
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||||
Accumulated other comprehensive loss
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(243,475
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)
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(605,539
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)
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Total stockholders’ equity
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4,927,746
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5,366,500
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||||||
Total liabilities and stockholders’ equity
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6,995,183
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7,401,906
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NEMAURA MEDICAL INC.
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(Unaudited)
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Three Months Ended September 30,
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Six Months Ended September 30,
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|||||||||||||||
2017
($)
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2016
($)
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2017
($)
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2016
($)
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|||||||||||||
Revenue:
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-
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-
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-
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-
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||||||||||||
Total revenue
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-
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-
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-
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-
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||||||||||||
Operating Expenses:
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||||||||||||||||
Research and development
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209,087
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220,714
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358,285
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526,795
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||||||||||||
General and administrative
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238,429
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101,768
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506,551
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289,870
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||||||||||||
Total operating expenses
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447,516
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322,482
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864,836
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816,665
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||||||||||||
Loss from operations
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(447,516
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)
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(322,482
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)
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(864,836
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)
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(816,665
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)
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||||||||
Interest income
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54,485
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-
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64,018
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-
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||||||||||||
Net loss
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(393,031
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)
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(322,482
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)
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(800,818
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)
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(816,665
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)
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Other comprehensive income (loss):
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||||||||||||||||
Foreign currency translation adjustment
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159,309
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140,312
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362,064
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(389,703
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)
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|||||||||||
Comprehensive loss
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(233,722
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)
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(182,170
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)
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(438,754
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)
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(1,206,368
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)
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||||||||
Loss per share
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||||||||||||||||
Basic and diluted
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*
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*
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*
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*
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||||||||||||
Weighted average number of shares outstanding
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205,000,000
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205,000,000
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205,000,000
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205,000,000
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NEMAURA MEDICAL INC.
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(Unaudited)
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Six Months Ended
September 30, |
||||||||
2017
($)
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2016
($)
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|||||||
Cash Flows From Operating Activities:
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||||||||
Net loss
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(800,818
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)
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(816,665
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)
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Adjustments to reconcile net loss to net cash used in operating activities:
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||||||||
Depreciation and amortization
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15,031
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11,037
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||||||
Changes in assets and liabilities:
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||||||||
Prepaid expenses and other receivables
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(17,347
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)
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86,705
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|||||
Accounts payable
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72,401
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(50,241
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)
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|||||
Liability due to related party
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(221,735
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)
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-
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|||||
Other liabilities and accrued expenses
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39,147
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-
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||||||
Advances from related party
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- |
270,210
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||||||
Interest receivable
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(54,295
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)
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-
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|||||
Net cash used in operating activities
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(967,616
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)
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(498,954
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)
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Cash Flows From Investing Activities:
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||||||||
Purchase of intangible assets
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(25,245
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)
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(55,564
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)
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Purchase of property and equipment
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-
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(6,842
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)
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Fixed rate savings account
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639,460
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-
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||||||
Net cash provided by (used in) investing activities
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614,215
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(62,406
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)
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|||||
Net decrease in cash
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(353,401
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)
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(561,360
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)
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Effect of exchange rate changes on cash
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39,581
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(524,323
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)
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|||||
Cash at beginning of period
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911,359
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9,403,965
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||||||
Cash at end of period
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597,539
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8,318,282
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(a) |
Cash
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(b) |
Fixed rate cash accounts:
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(i) |
Earnings per share
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Six months ended
September 30
,
2017
(unaudited)
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Six months ended
September 30
,
2016
(unaudited)
|
Three months ended
September 30
,
2017
(unaudited)
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Three months ended
September 30
,
2016
(unaudited)
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Twelve months ended
March 31,
2017
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||||||||||||||||
Period end GBP : US$ exchange rate
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1.340
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1.325
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1.340
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1.325
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1.245
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|||||||||||||||
Average period/yearly GBP : US$ exchange rate
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1.279
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1.382
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1.283
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1.370
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1.315
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Six Months Ended
September 30, 2017
(unaudited)
($)
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Six Months Ended
September 30, 2016
(unaudited)
($)
|
|||||||
Balance due from (to) Pharma and NDM at beginning of period
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(687,609
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)
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(494,145
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)
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||||
Amounts invoiced by Pharma to DDL and TCL (1)
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(239,758
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)
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(286,096
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)
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||||
Amounts invoiced by DDL to Pharma
|
-
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15,886
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||||||
Amounts repaid by DDL to Pharma
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440,266
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-
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||||||
Amounts paid by DDL on behalf of Pharma
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19,889
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-
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||||||
Foreign exchange differences
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(40,164
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)
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46,420
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|||||
Balance due to Pharma and NDM at end of the period
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(507,376
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)
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(717,935
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)
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Exhibit No.
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Document Description
|
|
101
|
Interactive Data Files (1)
|
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NEMAURA MEDICAL INC.
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Dated: October 31, 2017
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/s/ Dewan F H Chowdhury
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Dewan F H Chowdhury
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Chief Executive Officer (Principal Executive Officer)
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Dated: October 31, 2017
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/s/ Iain S Anderson
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Iain S Anderson
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Chief Financial Officer (Principal Financial Officer)
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Exhibit No.
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Document Description
|
|
31.1
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Certification of the Principal Executive Officer pursuant to Rule 13A-14(A)/15D-14(A) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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31.2
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Certification of the Principal Financial Officer pursuant to Rule 13A-14(A)/15D-14(A) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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32.1
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Certification of the Principal Executive Officer pursuant to Rule 13A-14(A)/15D-14(A) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
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32.2
|
Certification of the Principal Financial Officer pursuant to Rule 13A-14(A)/15D-14(A) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
1 Year Nemaura Medical Chart |
1 Month Nemaura Medical Chart |
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