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Aethlon Medical, Inc. (AEMD) has shown an increase in the premarket – Here’s why?
Aethlon Medical, Inc. (AEMD) experiences an increase of 23.68% in the premarket without any particular reason. However, the last trading session concluded at $3.8 with an incline of 16.21%.
First Quarter Financial Results 2021
AEMD announced the first quarter of 2021 financial results on 9th August 2021. According to the updates some of the highlights are as follows:
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Fiscal Year-End Financial Results and Provides Corporate Update
AEMD reported fiscal year financial results and corporate updates on 24 June 2021. According to this, AEMD has a cash balance of $9.9 million as of March 31, 2021.
Firstly, consolidated operating expenditures for the fiscal year ending March 31, 2021, were about $8.6 million, up from $6.6 million for the fiscal year ending March 31, 2020. The $2.0 million rises was attributable to increases of $1.1 million in payroll and related expenditures and $1 million in general.
Secondly, AEMD’s payroll and related expenditures increased by $1.1 million in the fiscal year ended March 31, 2021. Thirdly, an accrual for severance payments to our previous Chief Executive Officer accounted for almost $400,000 of the increase in cash-based compensation.
AEMD Announces $12.425 Million Registered Direct Offering
AEMD stated that it has reached an agreement with a single institutional investor to acquire 1,380,555 shares of its ordinary stock. The exclusive placement agent for the offering is Maxim Group LLC. Before deducting placement agent fees and other selling expenses, Aethlon will receive about $12.425 million in gross proceeds. Moreover, the net proceeds from this transaction are for working capital and other general corporate purposes.
Lastly, AEMD is offering the common stock pursuant to a “shelf” registration statement on Form S-3. Only a prospectus supplement, which is part of the registration statement, is used to sell shares of common stock. The Securities and Exchange Commission (SEC) will receive a final prospectus supplement and supporting base prospectus for the common stock being sold.
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