Know Labs, Inc. - KNW STOCK NEWS

Know Labs (NYSE American: KNW) announced that its audited financial statements for the fiscal year ended September 30, 2024, received an audit opinion containing a going concern explanation from its independent registered public accounting firm. This disclosure, previously included in the company's Annual Report on Form 10-K filed on November 14, 2024, raises questions about the company's ability to continue operations. The announcement complies with NYSE American Company Guide Section 610(b) requirements and does not represent any changes to the company's financial statements or Annual Report.

Know Labs (NYSE: KNW) reported its FY2024 financial results, showing a net loss of $16.58 million, an 8.4% increase from FY2023's loss of $15.29 million. The company's EPS loss improved to $0.20 from $0.41 in FY2023. R&D expenses decreased 21% to $6.11 million, while SG&A expenses increased to $9.11 million. Cash position declined to $3.11 million from $8.02 million year-over-year. The company expects its current cash to sustain operations through February 28, 2025, and plans to raise additional funds through equity, preferred stock, and convertible debentures.

Know Labs, Inc. (NYSE American: KNW), a developer of non-invasive diagnostics technology, has announced two key additions to its executive leadership team. John Cronin joins as Interim Chief Technology Officer, bringing extensive experience in intellectual property strategy and patent development. Dominic Klyve, Ph.D., becomes Chief Science Officer, tasked with leading the research and development team in building the first non-invasive glucose monitor.

These appointments aim to accelerate platform development and secure multiple strategic partnerships. Cronin, previously a board member and strategic advisor, will oversee product development and technology strategy. Klyve, a former lead data scientist at Know Labs, brings significant research experience and has authored several studies for the company.

The expanded leadership team is expected to drive technology development and assist in bringing Know Labs' platform to market through strategic relationships with global leaders in med tech, pharma, and consumer markets.

Know Labs (NYSE: KNW) has engaged The Stanbridge Group to establish a strategic partnership with an automotive OEM to integrate its non-invasive sensor technology into steering wheels. Initial lab tests show the sensor can detect blood alcohol levels non-invasively, potentially preventing impaired driving. This innovation emerged during the development of their glucose monitoring tech, leading to a patent filing in 2022, published in 2024 (US 2024/0050007 A1). The 2021 Infrastructure Investment and Jobs Act mandates passive alcohol detection systems in new vehicles by 2026, aligning with Know Labs' technology. CEO Ron Erickson highlighted the broad applications of their technology, including driver health and wellness. In 2022, drunk driving caused 13,524 deaths in the US, prompting NHTSA to propose rules for impaired driving prevention tech. Rick Stanbridge of The Stanbridge Group emphasized the sensor's potential to address manufacturers' and NHTSA's concerns. Further details are available at www.knowlabs.co.

Know Labs, Inc. (NYSE American: KNW) has received a notice of noncompliance with NYSE American continued listing standards. The company fails to meet the stockholders' equity requirements set forth in Sections 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide. Know Labs must submit a compliance plan by October 27, 2024, outlining how it intends to regain compliance by March 27, 2026.

The notice does not immediately impact the listing of Know Labs' common stock, which will continue to trade under the symbol "KNW" with an added ".BC" designation. The company is preparing its plan based on expected business progress and technological developments, including potential announcements regarding strategic and joint venture partnerships. However, there is no guarantee that Know Labs will achieve compliance within the required timeframe.

Know Labs, Inc. (NYSE American: KNW) announced the publication of its peer-reviewed study in IEEE Sensors Journal, titled 'Non-Invasive Blood Glucose Measurement Using RF Spectroscopy and a lightGBM AI Model'. The study validates the novelty of Know Labs' proprietary radiofrequency (RF) dielectric sensor for non-invasive blood glucose monitoring.

Key points:

• Know Labs' technology uses broadband dielectric spectroscopy, scanning a large range of RF frequencies
• The approach enables the use of thousands of data points for measurement, surpassing traditional resonance techniques
• Results from a first-generation device study were initially announced in May 2023
• Know Labs has since published studies showing improved accuracy in clinical research protocols
• The company is progressing towards FDA clearance with ongoing clinical and bench studies

Know Labs, Inc. (NYSE American: KNW), a developer of non-invasive medical diagnostic technology, has announced a $1.655 million public offering. The company is selling 6,365,385 units at $0.26 per unit, with each unit comprising one common stock share and one warrant to purchase an additional share at $0.26. The offering closed on August 15, 2024.

The net proceeds will be used for product development, clinical studies, general and administrative expenses, intellectual property, and working capital. Boustead Securities, and The Benchmark Company, acted as advisors, receiving a 5% cash fee and warrants for 636,538 common stock shares. The offering is made under Know Labs' effective shelf registration statement on Form S-3.

Know Labs, Inc. (NYSE American: KNW) reported Q3 FY 2024 financial results, showing a net loss of $4.10 million, up 13.9% from Q3 FY 2023. Earnings per share improved to a loss of $0.05 from $0.07 last year. R&D expenses decreased by 28.2% to $1.35 million, while SG&A expenses increased to $2.49 million. The company's cash position decreased to $2.13 million from $8.02 million at the end of FY 2023. Know Labs closed a $3.45 million public offering in August 2024, expecting to fund operations until at least December 31, 2024. The company plans to seek additional funding to ensure operations into 2025 and is taking steps to address negative shareholder equity through debt conversion.

Know Labs (NYSE American: KNW) has successfully closed a $3.445 million public offering of 13,250,000 units at $0.26 per unit. Each unit includes one common stock share and one warrant to purchase an additional share at $0.26. The underwriters partially exercised their option to purchase 1,987,500 warrants. This capital raise is part of Know Labs' strategic plan to accelerate the development of its proprietary technology, including the KnowU™ wearable non-invasive continuous glucose monitoring device. The funds will support ongoing clinical validation studies, product development efforts for FDA clearance, and strengthening the company's intellectual property position.