Catheter Precision SEC Filings

Catheter Precision, Inc. reported Q1 2026 results showing a larger business but continued heavy losses and tight liquidity. Revenue rose to $432,000 from $143,000, driven by growth in VIVO and LockeT product sales and the addition of private aviation services.

The company posted a net loss of $1.7 million, improved from a $4.0 million loss a year earlier, as operating loss narrowed and fair value gains on deferred consideration offset other charges. Total assets increased to $35.1 million, including $22.3 million of intangibles and $9.7 million of goodwill, largely from acquiring 100% of private aviation platform FLYTE and its subsidiary Ponderosa.

Cash and cash equivalents were only $0.4 million at March 31, 2026, with a working capital deficit of $18.5 million. Management explicitly states there is substantial doubt about the company’s ability to continue as a going concern and plans to rely on additional equity and debt financings, including recent and potential issuances of Series C and Series D preferred stock and warrant exercises, to fund operations while it builds out both the cardiac electrophysiology and private aviation segments.

Catheter Precision, Inc. notified the SEC it cannot timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2026 because additional time is needed to complete the non-cash accounting for its March 9, 2026 acquisitions of Fly Flyte, Inc. and Ponderosa Air, LLC. Management expects to use the 5-calendar-day extension permitted under Rule 12b-25 and anticipates filing within that period.

The notification was signed by Chief Financial Officer Philip Anderson on May 18, 2026. The filing explains the delay relates specifically to balance-sheet accounting for the acquired businesses as of the quarter end.

Catheter Precision, Inc. Schedule 13G/A amendment discloses that a group of affiliated investment entities and individuals (the "Reporting Persons") report 0% beneficial ownership of the Issuer's common stock, par value $0.0001 per share. The filing identifies the Reporting Persons, their business address, and states the shares reported were held by the Funds.

Catheter Precision, Inc. filed an amendment to its annual report mainly to expand disclosures on related-party transactions and director independence. The amendment does not change previously reported financial statements.

Key items include an oral employment arrangement with the CEO’s adult daughter, who serves as non-executive chief operating officer and received $165,000 in cash compensation for 2025 plus multiple option and warrant grants. The company also details several financing and restructuring transactions with entities controlled by Executive Chairman and Chief Executive Officer David A. Jenkins.

On December 31, 2025, the company exchanged royalty rights on its LockeT device held by Mr. Jenkins and FatBoy Capital, LP for 9,489.488 shares of Series J Convertible Preferred Stock, with a $1,000 stated value per share. The exchange eliminated approximately $2.7 million of related-party royalty payables, recognized $5.3 million as additional paid-in capital, and created a $2.6 million loss on debt extinguishment. The Series J Preferred Stock is convertible into 6,083,005 common shares at $1.56 per share if stockholders approve the underlying share issuance.

The company also extended maturity dates on related-party promissory notes totaling $1.5 million and issued 340,000 Series M warrants at a $1.56 exercise price to Mr. Jenkins and FatBoy, valued at about $509,000. Additional disclosures cover the transfer of non-operating PeriKard, LLC membership interests to Mr. Jenkins, formation of majority-owned subsidiaries Cardionomix, Inc. and KardioNav, Inc. with minority stakes granted to Mr. Jenkins and affiliates, and waiver of a 9.99% beneficial ownership limit to allow the Jenkins Family Charitable Institute to exercise 12,368 prefunded warrants. The board also reaffirms that three non-employee directors meet NYSE American independence standards and outlines committee compositions.

Catheter Precision, Inc. completed a private financing and issued new preferred stock that can convert into common shares, which may dilute existing holders over time. The company sold 3,470 shares of Series C-2 Convertible Preferred Stock at a stated value of $1,000 per share for aggregate gross proceeds of $3,470,000, primarily to fund working capital and general corporate purposes.

It also issued 11,028 shares of Series D Convertible Preferred Stock as part of the consideration for acquiring Fly Flyte, Inc. Both preferred series are initially convertible at set prices, with a floor price of $0.35 per share and anti-dilution adjustments, and include a beneficial ownership cap initially set at 4.99% that holders may increase to 9.99% with advance notice. Certificates of Designation filed in Delaware establish that these preferred shares rank senior to common stock in dividends and liquidation, reinforcing their priority but increasing potential dilution if converted.

Catheter Precision, Inc. reported the results of a Special Meeting of stockholders held on April 15, 2026. Of the 2,357,127 shares of common stock outstanding as of March 9, 2026, 1,165,698 shares were represented in person or by proxy, representing approximately 49.5% of shares entitled to vote.

Stockholders considered six proposals described in the company’s definitive proxy statement filed on March 23, 2026. The company disclosed detailed vote tallies for each proposal, including votes for, votes against, abstentions, and broker non-votes.

Catheter Precision, Inc. reported 2025 results showing revenue growth of 95% year over year but a GAAP net loss of $17.7M. After adding back non-cash items such as intangible asset impairment and debt extinguishment, the company reported a 2025 non-GAAP adjusted net loss of $7.8M.

For Q4 2025, GAAP net loss was $5.3M and non-GAAP adjusted net loss was $3.5M. Management highlighted progress in commercializing its VIVO and LockeT cardiac devices and, after year-end, completed the acquisition of Flyte, a regional air mobility company, creating two operating platforms in medical devices and aviation.

The company also disclosed risk factors, including that it does not have sufficient liquidity to fund operations through fiscal 2026 without additional financing or a strategic transaction, and outlined numerous operational, regulatory, and integration risks around its products and the Flyte expansion.

Catheter Precision, Inc. outlines its cardiac electrophysiology-focused business built around the VIVO 3D mapping system and LockeT vascular closure device, alongside new subsidiaries Cardionomix and KardioNav targeting heart failure and device-integrated mapping technologies. The company reports a going concern uncertainty, highlighting an accumulated deficit and reliance on external financing after raising approximately $4.9 million in 2025. As of March 20, 2026, it had 2,692,473 shares outstanding and a June 2025 public float valued at about $3.9 million. Management plans to grow by expanding VIVO indications, building clinical evidence for LockeT, leveraging international approvals, and selectively pursuing complementary technologies, but warns of significant regulatory, reimbursement, competition, and capital-raising risks.

Catheter Precision, Inc. reported that Chairman and CEO David A. Jenkins received a grant of options to buy 40,000 shares of common stock. The options have an exercise price of $1.15 per share, expire on March 26, 2036, and vest 100% 180 days after the grant date.