Non-Invasive Monitoring Systems Reports Financial Results with Continued Losses and Deteriorating Balance Sheet

Non-Invasive Monitoring Systems, Inc. (NIMS) reported its financial results for the three and nine months ended April 30, 2025, revealing a net loss of $42,000 and $161,000, respectively. This marks a slight improvement compared to the same periods in 2024, where the company recorded losses of $44,000 and $186,000. The reduction in net loss for the nine-month period was primarily attributed to decreased general and administrative expenses, which fell from $146,000 in 2024 to $115,000 in 2025. The company’s total operating costs also decreased from $30,000 to $26,000 for the three months ended April 30, 2025.

In terms of balance sheet performance, NIMS reported total assets of $25,000 as of April 30, 2025, down from $34,000 as of July 31, 2024. The company’s total liabilities increased to $911,000 from $759,000 during the same period, largely due to an increase in accounts payable and accrued expenses. The shareholders’ deficit also widened to $886,000 from $725,000, reflecting the ongoing financial challenges faced by the company. As of April 30, 2025, NIMS had cash reserves of $16,000, a decrease from $25,000 at the end of the previous fiscal year.

NIMS has not engaged in any significant operational activities since discontinuing its product lines in May 2019. The company is currently classified as a shell company and has no inventory or immediate plans to develop new products. The management is exploring potential mergers, acquisitions, and strategic collaborations to enhance its financial position. The company has also been seeking additional financing through promissory notes from related parties, which have increased from $500,000 to $595,000 over the past year.

The company’s operational metrics indicate a continued struggle, with no new customer counts or product adoption rates reported. NIMS has maintained a consistent employee headcount, with no changes noted in the filing. The management has expressed concerns regarding the company’s ability to continue as a going concern, given its accumulated deficit of approximately $29 million and ongoing cash outflows. The company’s future outlook remains uncertain, as it anticipates the need for additional financing to meet its operational requirements over the next 12 months.

In summary, Non-Invasive Monitoring Systems, Inc. continues to face significant financial challenges, with ongoing losses and a deteriorating balance sheet. The management is actively seeking strategic options to stabilize the company, but the lack of operational activities and reliance on external financing raises questions about its long-term viability.