Miami, Florida – Pujol Law Offices, P.A., a Miami-based law firm, announces an expanded commitment to guardianship for adults who have been determined to lack capacity under Florida law.
Pujol Law supports individuals who, due to a court-determined incapacity, cannot manage some or all aspects of their personal or financial affairs. The firm recognizes the increasing need for accessible legal guidance in adult guardianship matters.
The firm tailors its services and legal strategies to each client’s unique needs, in accordance with Florida law and court procedures. Pujol Law approaches guardianship cases with empathy, clarity, and respect for each family’s concerns. Attorney Joe Pujol listens to clients, explains the legal process, and provides guidance and practical support throughout guardianship proceedings.
If the court finds incapacity and determines, after considering less restrictive alternatives—including supported decision-making agreements as required by Florida law—that none are suitable, it may appoint a guardian to make certain decisions on behalf of the individual. Florida law provides for limited guardianships (where the individual lacks the capacity for some, but not all, tasks) and plenary guardianships (where all delegable rights are removed). The court is required by statute to order the least restrictive form of guardianship necessary, and as of July 1, 2024, must consider supported decision-making agreements as a possible alternative.
Florida law requires all guardians to be represented by an attorney during guardianship proceedings, including initial appointments and ongoing court compliance matters. The alleged incapacitated person is also entitled to legal representation throughout the process. Any competent adult who is a Florida resident may serve as a guardian unless disqualified by statute. Nonresidents may serve if they are directly related to the ward. Individuals convicted of certain felonies or found to have committed abuse, neglect, or abandonment are disqualified by law. Professional guardians—those serving more than two wards for compensation—must register annually with the Office of Public and Professional Guardians and comply with statutory training, bonding, and reporting requirements.
Pujol Law Offices, P.A., recognizes the emotional and legal challenges families face and aims to make the process clear and manageable. Attorney Joe Pujol assists with preparing and filing legal documents, representing clients in court, and evaluating whether guardianship or a less restrictive alternative—which the court must consider under Florida law—is appropriate.
As of July 1, 2024, supported decision-making is formally recognized in Florida law. Courts are required to consider supported decision-making agreements as a less restrictive alternative before appointing a guardian. Courts are required to make a specific finding as to whether a supported decision-making arrangement adequately meets the individual’s needs under Florida law. This approach enables individuals to make their own choices with help from trusted persons, preserving as many rights as possible.
Attorney Joe Pujol understands the procedural and practical requirements of Florida’s guardianship laws and works to support the interests of incapacitated persons and their families. Florida law requires guardians to act in good faith, follow the ward’s best interests, and comply with the duties outlined in Chapter 744, Florida Statutes (§744.361). Guardians may not act in ways that conflict with the ward’s welfare.
Pujol Law Offices, P.A. offers legal guidance to help families understand their options, whether starting guardianship or modifying an existing arrangement. Establishing guardianship for a disabled adult involves sensitive legal and personal considerations.
In addition to guardianship services, Pujol Law provides estate planning services to help align legal arrangements with clients’ long-term goals. These services include preparing wills and trusts, designating powers of attorney, and drafting advance healthcare directives such as living wills and healthcare surrogate designations. The appropriateness of these alternatives is subject to court review in each case. While these tools may serve as alternatives to guardianship in some cases and can help individuals retain control over personal medical and financial choices, the court must consider all less restrictive alternatives, including supported decision-making agreements, and may appoint a guardian only if it determines that no less restrictive option sufficiently addresses the individual’s needs, in accordance with Florida law.
Pujol Law’s fixed-fee system reduces uncertainty associated with hourly billing and allows clients to agree to costs in advance. Regular updates and clear communication support an informed and collaborative attorney-client relationship.
About Pujol Law Offices, P.A.
Pujol Law provides consistent legal support to families navigating guardianship and planning for the future. With over 25 years of legal experience, the firm has built a reputation for responsive and thoughtful service. Pujol Law is dedicated to delivering personalized legal solutions tailored to each client’s needs.
For more information about guardianship services for incapacitated adults, visit www.pujollaw.com or call (305) 447-0059.
Pujol Law Offices, P.A.
782 NW 42nd Ave Suite 628, Miami, FL 33126
(305) 447-0059
VANCOUVER, BC / ACCESS Newswire / August 14, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (“CoTec” or the “Company”) announces that a total of 1,152,104 incentive stock options (the “Options”) have been granted to a director and two officers of the Company pursuant to the Company’s 10% rolling stock option plan.
The Options have an effective grant date of August 14, 2025, and are exercisable for a period of 10 years at a price of $0.91 per common share, with 1/3 of the Options vesting every 12 months, over a 3-year period.
Furthermore, the Company has issued 329,670 deferred share units to members of the Board of Directors as compensation and 1,076,365 restricted share units (“RSU’s”) to a director and two officers of the Company pursuant to the Company’s long term incentive plan. The RSU’s have an effective grant date of August 14, 2025, and vest over a three-year period as to 1/3 every 12 months.
About CoTec
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange (“TSX-V”) and the OTCQB and trades under the symbols CTH and CTHCF respectively. CoTec Holdings Corp. is a forward thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec’s strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid tier disruptor in the commodities sector.
Statements in this press release regarding the Company and its investments which are not historical facts are “forward-looking statements” that involve risks and uncertainties, including statements relating to management’s expectations with respect to its current and potential future investments, the value of such investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social disruptions. For further details regarding risks and uncertainties facing the Company please refer to “Risk Factors” in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company’s continuous disclosure documents which are available on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
In a city where the ocean breeze promises renewal, the coastal community of Huntington Beach is now home to a mental health resource that is changing lives in significant ways. Moment of Clarity, a leading depression treatment center in Huntington Beach, is proud to announce the ongoing success of its comprehensive mental health services designed to promote personal growth, healing, and emotional well-being. The center’s unique and patient-focused approach to care has received heartfelt praise from patients across Southern California, including a recent testimonial highlighting just how transformative the experience can be.
Christopher B., a former patient, described his time at Moment of Clarity as “truly life-changing.” From the moment he arrived, he felt supported, understood, and empowered to begin his journey toward healing. He credited the wide variety of therapeutic groups for helping him explore his personal growth and maintain a steady and balanced path forward. What stood out most to him was the caliber of the staff—knowledgeable and deeply compassionate professionals. He also praised the center’s clean, comfortable housing just minutes from the beach, offering an ideal environment for restoring mental health and emotional balance.
This glowing review echoes the purpose behind this announcement—to spotlight Moment of Clarity’s exceptional services and raise awareness among those in need of reliable, compassionate, and effective depression treatment. People in Huntington Beach and surrounding areas seeking a place where they will be treated with respect and allowed to build a healthier future are finding that Moment of Clarity delivers precisely what they need.
Moment of Clarity specializes in personalized mental health treatment that prioritizes patient dignity and evidence-based methods. Through offerings like cognitive behavioral therapy, patients are guided in identifying harmful thought patterns, addressing emotional obstacles, and developing new coping strategies for everyday life. This method is especially effective for patients managing depression and anxiety disorders, both of which are commonly treated at the center. With therapeutic options designed around each patient’s unique needs, Moment of Clarity provides both short-term support and long-term strategies for lasting recovery.
In addition to cognitive behavioral therapy, the center also offers various group therapy sessions, one-on-one counseling, and targeted approaches for those suffering from anxiety-related challenges. Their outpatient mental health treatment services allow patients to maintain personal responsibilities while providing consistent, quality care. This flexibility enables people to stay connected to their jobs, families, and communities while prioritizing their mental health.
What distinguishes Moment of Clarity from many other mental health centers is its ability to balance professional structure with warmth and authenticity. Christopher B.’s experience speaks volumes about the center’s culture, where support and accountability go hand-in-hand and patients feel safe and motivated. The center is not a sterile clinical facility—it’s a welcoming and nurturing space where patients are treated like people, not numbers. This deep sense of care and commitment has created a reputation that extends beyond Huntington Beach and is quickly gaining the attention of those throughout Orange County seeking transformative mental health services.
Depression is a complex and deeply personal experience that can impact every aspect of a person’s life. At the Moment of Clarity, depression treatment is handled with the seriousness and sensitivity it deserves. By providing both a peaceful environment and a robust clinical foundation, the center ensures that every patient is equipped with the tools, support, and resilience necessary for long-term emotional healing. Those who have struggled in silence or found little success in other treatment models are discovering that the compassionate team at Moment of Clarity listens deeply, responds meaningfully, and walks beside them every step of the way.
Anxiety disorder treatments are also a critical part of the center’s offerings. Whether patients face persistent worry, panic episodes, or overwhelming stress, the staff at Moment of Clarity takes a methodical and holistic approach to care. Every treatment plan is customized, built around needs, and aimed at empowering patients to overcome daily challenges without fear or instability. By helping patients understand their mental health and develop practical techniques for managing symptoms, Moment of Clarity prepares them for sustained wellness beyond their time in the program.
Patients are also drawn to the center’s serene location. The facility is close to the beach, offering literal and symbolic restoration opportunities. The therapeutic power of nature and a secure and tranquil living environment make Huntington Beach the ideal setting for mental health healing. From early morning reflection walks to quiet afternoons in a peaceful space, the surrounding environment supports every stage of emotional recovery.
For anyone searching for a depression treatment center in Huntington Beach, Moment of Clarity is proving to be more than a mental health center; it is a place of transformation, hope, and unwavering support. Their team is dedicated to helping patients create fundamental, lasting changes in their mental health and quality of life. The passion, professionalism, and warmth permeating every part of the facility make the experience so profoundly different—and so deeply effective.
More details about their full range of services, including outpatient mental health treatment, cognitive behavioral therapy, depression and anxiety disorder treatments, and therapeutic group sessions, can be found by visiting their official website.
With each success story, Moment of Clarity continues to redefine what mental health care should look like—accessible, human, and life-affirming.
RestoPros of Fort Lauderdale, a well-respected provider in the restoration industry, has revealed a big expansion in services to better assist residents and businesses in Fort Lauderdale and nearby regions. As a dedicated resource, they offer an extensive range of restoration services, including water damage restoration, fire and smoke damage repair, mold remediation, storm damage restoration, and complete property rebuild services. Through their company website, clients can explore detailed information on their offerings and learn about their 24/7 emergency response capabilities. With these offerings, RestoPros aims to strengthen its position as a dependable partner for restoring both homes and commercial properties.
In a place where storms and water damage are not unusual, a quick and skilled response is essential. RestoPros of Fort Lauderdale focuses on providing fast and professional restoration services. Their team is available 24/7 to handle emergencies, aiming to get homes and businesses back to normal quickly, reducing the impact on residents and business owners. Their comprehensive approach to restoration ensures that affected properties are thoroughly inspected, cleaned, and restored, minimizing any future risk of incidents. More details on how they manage water emergencies and restoration can be found on the water damage services section of RestoPros’ site, showcasing their expertise and immediate response tactics.
“RestoPros of Fort Lauderdale is deeply committed to this community,” said Miguel Adler, a representative of the company. “We understand how urgent restoration work can be, whether it’s after a water-related incident or a fire. Our team prides itself on being available around the clock to deliver fast, reliable services right when they’re needed most.”
The company values its strong local roots and the solid relationships it has built in the Fort Lauderdale area. They also operate in nearby regions like Dania Beach, Hallandale, and Hollywood. Understanding Florida’s climate, particularly the frequent rainstorms and subsequent water damage, RestoPros is adept at offering solutions tailored to the community’s unique environmental challenges.
RestoPros takes a comprehensive approach to restoration and remediation. Their process begins with inspecting and assessing the damage, followed by water extraction, drying, cleaning, and full restoration. These steps aim to ensure properties are restored safely and are better prepared for future incidents. They also assist with insurance claims, reducing the stress for clients during an already difficult time. For additional insights on their step-by-step restoration methodology, potential clients are encouraged to review detailed service outlines available on their website.
According to Miguel Adler, “Our clients benefit from our extensive experience and certified expertise. The team at RestoPros of Fort Lauderdale water damage services is devoted to providing peace of mind through quick and competent restoration efforts. We work diligently so our clients can return to normalcy without undue delay.”
The company holds certifications from the Institute of Inspection Cleaning and Restoration Certification (IICRC), showcasing their commitment to high industry standards and client safety. This certification reflects their ability to carry out restoration work with precision and care, following best practices in each project.
To improve customer engagement, RestoPros of Fort Lauderdale offers free inspections and clear pricing. This approach helps clients stay informed about the condition of their properties and the necessary work. The company remains open and ready to address any questions or concerns customers might have as they deal with property damage.
The expansion by RestoPros of Fort Lauderdale marks more than just a growth in service area or capabilities. It demonstrates the dedication of a local business to its community, showing a commitment to protecting homes and enhancing the quality of life in an area prone to natural and unexpected incidents.
“The expansion allows us to extend our reach and enhance our service capabilities,” Miguel Adler shared. “It’s a step forward in our mission to become the first choice for restoration work in Fort Lauderdale and neighboring areas. We look forward to serving even more of our neighbors with the high level of dedication and skill we’re known for.”
By boosting their local presence and service offerings, RestoPros of Fort Lauderdale becomes an important resource in disaster recovery and property restoration. Their commitment not only aids property owners in times of need but also solidifies their role as a trusted community partner. Visit their website to learn more about how they are transforming restoration services within the community.
VANCOUVER, BC – August 13th, 2025 – Deemos, a pioneering research company at the forefront of generative AI for 3D content, is celebrating a triumphant week at SIGGRAPH 2025, marked by winning the conference’s prestigious Best Paper Award and successfully debuting its powerful new foundation model, Hyper3D Rodin Gen-2. This victory marks the company’s first win after three nominations at the premier computer graphics conference.
The pinnacle of Deemos’s presence at the event was the recognition of its technical paper, “CAST: Component-Aligned 3D Scene Reconstruction from an RGB Image,” with the Best Paper Award. This top honor validated the paper’s groundbreaking approach to analyzing a single 2D picture and intelligently reconstructing it into a complex, component-level 3D scene. The work represents a significant leap beyond simple object creation, demonstrating an advanced understanding of object composition crucial for building detailed virtual worlds.
Building on this profound research, Deemos provided attendees with a hands-on look at the future of digital content creation at its booth. The team conducted live, interactive demonstrations of Hyper3D Rodin Gen-2, a versatile foundation model that serves as a new engine for 3D asset generation. Attendees witnessed firsthand how the technology interpreted simple text prompts or 2D images to produce intricate, high-fidelity 3D models. This process, which the company calls the “Vibe Modeling” era, moves beyond the technical complexities of traditional 3D software, allowing creativity to flow directly from idea to asset. The model’s ability to generate individual, editable parts of a larger object was a key point of interest for professionals seeking to integrate the technology into their production pipelines.
“Winning the Best Paper Award at SIGGRAPH is a tremendous honor and a powerful validation of our team’s persistent, research-driven approach to solving fundamental challenges in 3D AI,” said Qixuan Zhang, CTO of Deemos. “It was incredibly rewarding to share this moment with the community. With Hyper3D Rodin Gen-2, we are turning our most advanced research into a tangible, powerful tool. The enthusiastic reception at SIGGRAPH confirms our belief that this technology will fundamentally change the workflow for 3D artists, game developers, and virtual world builders, making it faster, smarter, and more intuitive than ever before.”
The company’s deep expertise was further showcased through a series of highly-attended technical paper presentations. In addition to presenting the award-winning “CAST” paper, the Deemos team also presented “BANG: Dividing 3D Assets via Generative Exploded Dynamics,” which details a novel method for deconstructing 3D models. They also presented collaborative research with Tsinghua University on “Facial Appearance Capture at Home with Patch-Level Reflectance Prior,” highlighting innovations in realistic human digital rendering.
The successful debut and industry recognition at SIGGRAPH 2025 mark a pivotal moment for Deemos, solidifying its position as a leader in generative 3D. The company has effectively bridged the gap between state-of-the-art academic research and practical, commercially-ready solutions that will define the next generation of digital experiences.
About Deemos: Deemos is an AI research and product company dedicated to building the next generation of 3D content creation tools. By combining cutting-edge academic research with intuitive product design, Deemos is accelerating the world’s transition to a 3D future. The company is committed to democratizing 3D creation, making it possible for anyone to build, share, and experience immersive digital worlds.
ClearSight has released a new resource, LASIK Myths and Misconceptions, aimed at addressing the misinformation that often keeps people from considering LASIK as a safe and effective vision correction option. The article identifies and explains the truth behind 12 of the most common misunderstandings about LASIK, including concerns about pain, safety, cost, recovery, and long-term results. With decades of clinical data and thousands of successful patient outcomes, ClearSight’s team of refractive surgery specialists hopes to empower individuals to make confident, informed decisions about their vision.
According to the article, one of the most prevalent myths is that LASIK is painful. In reality, patients receive numbing eye drops before the procedure, which eliminates pain during surgery. While some may feel minor pressure during the process and experience temporary dryness or mild discomfort afterward, most report the experience as surprisingly comfortable. Another common concern is safety, with some believing LASIK is too risky or even capable of causing blindness. ClearSight emphasizes that LASIK is one of the most studied elective procedures in modern medicine, with an exceptional safety record. Serious complications are rare, and the practice’s use of advanced laser platforms and diagnostic tools such as corneal topography further reduces potential risks.
The resource also addresses the misconception that LASIK only works for mild vision problems. ClearSight routinely performs LASIK for a range of refractive errors, including myopia, hyperopia, and astigmatism. Modern technology allows correction of more complex prescriptions, meaning many who previously thought they were ineligible for LASIK may now qualify after a proper evaluation. Another persistent myth is that LASIK results wear off over time. The article explains that the vision correction achieved through LASIK is permanent, with any changes years later typically related to the natural aging process, not the procedure itself.
Cost is another barrier fueled by misunderstanding. While some assume LASIK is prohibitively expensive, ClearSight notes that it can save money over time by eliminating the ongoing cost of glasses, contact lenses, and related supplies. The practice offers financing options to make LASIK more accessible and emphasizes the value of factoring in the daily convenience and long-term savings when considering the procedure. The belief that everyone is automatically a candidate for LASIK is also clarified—while not everyone qualifies, many who assume they are ineligible are surprised to learn they can safely undergo the surgery after a thorough examination.
Night vision concerns are another topic of misinformation. Some patients worry that glare or halos will be a permanent problem, especially while driving at night. ClearSight explains that while mild visual effects may occur in the early healing period, these typically fade as the eyes adjust. Advanced laser technology used at the practice is designed to reduce nighttime visual disturbances and improve contrast sensitivity, often resulting in sharper night vision than patients had with glasses or contacts.
The article also dispels the idea that LASIK is a new or experimental treatment. LASIK has been performed for more than 25 years and is supported by extensive research in the field of ophthalmology. Millions of people worldwide, including medical professionals, pilots, and athletes, have trusted the procedure for its precision and predictable outcomes. Another overlooked benefit is quality of life. While many view LASIK solely as a way to eliminate corrective lenses, ClearSight patients frequently report improvements that extend beyond convenience—such as greater confidence, more freedom in sports and outdoor activities, and the ability to wake up with clear vision.
Finally, ClearSight addresses the belief that LASIK is purely cosmetic. LASIK is a medically guided, highly technical refractive surgery that improves visual acuity, reduces dependence on corrective lenses, and addresses real vision problems affecting daily function. It is performed with the same level of precision and care as any other form of eye surgery, with the goal of delivering both visual clarity and long-term eye health.
By publishing LASIK Myths and Misconceptions, ClearSight aims to replace confusion with clarity and give prospective patients the facts they need to weigh their options. The practice stresses that the decision to undergo LASIK should be based on accurate information and a personalized evaluation. Misinformation can prevent people from exploring a procedure that could significantly improve their vision and quality of life.
ClearSight invites reporters, editors, and medical writers to explore the full article and speak directly with its experienced surgical team to gain additional insights into the safety, benefits, and candidacy requirements for LASIK. Patients interested in learning whether they qualify are encouraged to schedule a consultation to receive a thorough eye health evaluation and customized treatment plan.
BOCA RATON, FL / ACCESS Newswire / August 14, 2025 / Greenlane Holdings, Inc. (“Greenlane” or the “Company”) (Nasdaq:GNLN), one of the premier global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today reported its financial results for the second quarter and six months ended June 30, 2025.
Revenue Reporting and Key Organizational Initiatives
Beginning with our second quarter 2023 financial report, we implemented a major restructuring of our industrial product lines, transitioning much of this business from gross sales to a commission structure. While this change affects how we report revenue, we believe it enables us to preserve working capital and improve gross margins.
During the second quarter, the Company initiated and has since completed a restructuring of its sales organization to better align people and responsibilities with the Company’s omnichannel sales strategy, including the addition of new and highly experienced leadership across the board to ensure a return to growth and increased customer success at Greenlane. While necessary, the recent reorganization of the sales team, including new leadership and the recruitment of a stronger sales team, negatively impacted sales and new customer acquisition in the second quarter. The new structure is designed to accelerate sales, improve customer experience, and increase efficiency throughout the sales process. Subsequent to the end of the second quarter, the new sales and marketing infrastructure has delivered new customer growth, reactivation of customer accounts, and the addition of new multi-state operator accounts.
Second Quarter 2025 Results Compared to Prior Year Period
Total revenue was $0.8 million compared to $2.6 million in the prior year period.
Total operating expenses were $3.3 million, a decrease of 27% compared to $4.5 million in the prior year period.
Operating loss improved to $3.3 million compared to an operating loss of $3.5 million in the prior year period.
Net loss was $3.2 million compared to a net loss of $0.6 million in the prior year period.
New Sales and Marketing Team Supported by Leading Cannabis Digital Marketing Agency Enhancing Revenue and Customer Opportunities
Cannabis Creative Group (CCG) is leading the Company’s new marketing strategy to support future growth for its B2B-focused brands, including Greenlane Wholesale and KushCo. CCG began work in Q2 and has focused on driving campaigns towards new acquisitions and retargeting wholesale customers.
An approximately 880% increase in revenue for new customers, month over month June to July; and an approximate 40% increase in revenue for new customers month over month July to August (MTD)
19 accounts reactivated.
Added 12 new multi-state operator accounts.
“The restructuring of our sales leadership and sales team during the quarter significantly impacted our revenue. While disappointing for the near term, these actions were necessary to restore more sustainable growth over the long term. With new leadership in place, a growing portfolio of products, and a large market opportunity, I have increasing confidence that the Company is positioned to accelerate growth going forward,” said Barbara Sher, Chief Executive Officer for Greenlane
Sher added, “We made strides with footprint optimization, and we will continue to take costs out of the business and right-size operations, while we enhance our product offering and improve pricing architecture. We are seeing solid early indicators that our new sales leadership is setting the foundation for improved top-line performance, and we are thrilled to have added several new products in both the cannabis and wellness categories to drive new and existing customer opportunities.”
Sher concluded, “While we continue to navigate a dynamic market environment, we remain committed to the initiatives implemented in recent quarters that are fueling our transformation and driving our goal to improve profitability. As we focus on improving our business and accounts receivable strategy and efficiency efforts and given our early but encouraging new customer sales activity, we currently anticipate a stronger second half of 2025 for Greenlane.”
Strategic Growth and Operational Initiatives
Entered into a distribution agreement with Greentank Technologies, a leading innovator in the aerosolization technology industry, to distribute Greentank’s full assortment of cartridges and vaporizers.
Renewed distribution agreement with PAX, a pioneer in the design and development of premium cannabis vaporization technologies and devices.
Announced the appointment of Mike Hinson as the Company’s Executive Vice President of Sales and upgraded sales and marketing organizations.
Appointed exclusive fulfillment platform for Safety Strips direct-to-consumer e-commerce store featuring ToxiShield, Safety Strips trusted brand of harm reduction solutions designed to combat fentanyl overdoses and drink spiking.
Successfully renegotiated many vendor and supplier partnership terms and continuing to improve working capital arrangements with vendors and suppliers.
Continued progress consolidating and streamlining office, warehouse, and distribution operations footprint.
Consolidated digital ecommerce presence to one platform resulting in improved efficiencies and reduced cost.
Balance Sheet
As of June 30, 2025, the Company had cash and cash equivalents of approximately $5.7 million.
GREENLANE HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts)
June 30, 2025
December 31, 2024
(unaudited)
ASSETS
Current assets
Cash
$
5,724
$
899
Accounts receivable, net of allowance of $3,289 and $2,616 at June 30, 2025 and December 31, 2024, respectively
3,795
4,262
Inventories, net
14,352
14,215
Vendor deposits
2,527
3,091
Other current assets
1,719
1,305
Total current assets
28,117
23,772
Property and equipment, net
1,181
1,420
Operating lease right-of-use assets
587
1,043
Other assets
1,892
2,396
Total assets
$
31,777
$
28,631
LIABILITIES
Current liabilities
Accounts payable
$
8,710
$
9,787
Accrued expenses and other current liabilities
1,102
1,218
Customer deposits
1,466
2,661
Current portion of notes payable
–
7,674
Current portion of operating leases
548
926
Total current liabilities
11,826
22,266
Operating leases, less current portion
5
83
Total liabilities
11,831
22,349
Commitments and contingencies (Note 7)
–
–
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding
–
–
Class A common stock, $0.01 par value per share, 600,000,000 shares authorized, 1,386,551 and 3,023 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively*
–
–
Class B common stock, $0.0001 par value per share, 30,000,000 shares authorized, and 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024*
–
–
Common stock, value
–
–
Additional paid-in capital*
301,841
281,095
Accumulated deficit
(282,011
)
(274,929
)
Accumulated other comprehensive income
265
265
Total stockholders’ equity attributable to Greenlane Holdings, Inc.
20,095
6,431
Non-controlling interest
(149
)
(149
)
Total stockholders’ equity
19,946
6,282
Total liabilities and stockholders’ equity
$
31,777
$
28,631
*
After giving effect to the Reverse Stock Splits
GREENLANE HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (in thousands, except share and per share amounts)
Three months ended June 30,
Six months ended June 30,
2025
2024
2025
2024
Net sales
$
788
$
2,652
$
2,257
$
7,578
Cost of sales
786
1,641
1,534
5,055
Gross profit
2
1,011
723
2,523
Operating expenses:
Salaries, benefits and payroll taxes
1,119
1,509
2,386
4,455
General and administrative
1,938
2,801
4,762
5,093
Depreciation and amortization
201
196
307
450
Total operating expenses
3,258
4,506
7,455
9,998
Loss from operations
(3,256
)
(3,495
)
(6,732
)
(7,475
)
Other income (expense), net:
Interest expense
–
(289
)
(391
)
(811
)
Change in fair value of contingent consideration
–
1,000
–
1,000
Gain on extinguishment of debt
–
2,166
–
2,166
Other income (expense), net
41
(14
)
41
(3
)
Total other income (expense), net
41
2,863
350
2,352
Loss before income taxes
(3,215
)
(632
)
(7,082
)
(5,123
)
Provision for (benefit from) income taxes
–
–
–
–
Net loss
(3,215
)
(632
)
(7,082
)
(5,123
)
Less: Net income (loss) attributable to non-controlling interest
–
(17
)
–
(17
)
Net loss attributable to Greenlane Holdings, Inc.
$
(3,215
)
$
(615
)
$
(7,082
)
$
(5,106
)
Net loss attributable to Class A common stock per share – basic and diluted (Note 9)*
$
(3.18
)
$
(997.50
)
$
(13.92
)
$
(10,267.50
)
Weighted-average shares of Class A common stock outstanding – basic and diluted (Note 9)*
1,010,216
617
508,494
497
Other comprehensive income (loss):
Foreign currency translation adjustments
–
(3
)
–
(1
)
Comprehensive loss
(3,215
)
(635
)
(7,082
)
(5,124
)
Less: Comprehensive loss attributable to non-controlling interest
–
(17
)
–
(17
)
Comprehensive loss attributable to Greenlane Holdings, Inc.
$
(3,215
)
$
(618
)
$
(7,082
)
$
(5,107
)
*
After giving effect to the Reverse Stock Splits
GREENLANE HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in thousands)
Six Months Ended June 30,
2025
2024
Cash Flows from Operating Activities:
Net loss
$
(7,082
)
$
(5,123
)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
307
450
Equity-based compensation expense
–
86
Change in fair value of contingent consideration
–
1,000
Accretion of debt discount
284
33
Gain on extinguishment of debt
–
(2,166
)
Change in provision for credit losses
673
41
Changes in operating assets and liabilities:
Accounts receivable
(206
)
(271
)
Inventories
(137
)
2,770
Vendor deposits
564
28
Other current assets
88
1,076
Accounts payable
(1,075
)
2,904
Accrued expenses and other liabilities
(116
)
793
Customer deposits
(1,195
)
–
Net used in operating activities
(7,895
)
(379
)
Cash flows from Investing Activities:
Purchases of property and equipment, net
(68
)
(151
)
Net cash used in investing activities
(68
)
(151
)
Cash flows from Financing Activities:
Proceeds from issuance of Class A common stock and warrants
20,746
–
Proceeds from notes payable
–
635
Payments on notes payable
(7,958
)
–
Proceeds from future receivables financing
–
225
Repayments of loan against future accounts receivable
–
(613
)
Other
–
(10
)
Net cash provided by financing activities
12,788
237
Effects of exchange rate changes on cash
–
(1
)
Net increase (decrease) in cash
4,825
(294
)
Cash as of beginning of the period
899
463
Cash as of end of the period
$
5,724
$
169
About Greenlane Holdings, Inc.
Founded in 2005, Greenlane is a premier global platform for the development and distribution of premium smoking accessories, vape devices, and lifestyle products to thousands of producers, processors, specialty retailers, smoke shops, convenience stores, and retail consumers. We operate as a powerful family of brands, third-party brand accelerator, and an omnichannel distribution platform.
We proudly offer our own diverse brand portfolio and our exclusively licensed Marley Natural and K.Haring branded products. We also offer a carefully curated set of third-party products through our direct sales channels and our proprietary, owned and operated e-commerce platforms which include Vapor.com, , PuffItUp.com, HigherStandards.com, Wholesale.Greenlane.com and MarleyNaturalShop.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Greenlane and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. Greenlane has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in Greenlane’s Annual Report on Form 10-K filed for the year ended December 31, 2024 and the Company’s other filings with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.
First Quarterly Results as a Nasdaq-Listed Company Mark Milestone Period of Growth
INDIANAPOLIS, INDIANA / ACCESS Newswire / August 14, 2025 / Arrive AI (NASDAQ:ARAI), an autonomous delivery network anchored by patented AI-powered Arrive Points™, today reported results for the second quarter of 2025 – its first quarter concluded as a public company.
Q2 2025 Highlights
Strategic Partnerships: Signed agreements with Go2 Delivery (specialty pharmacy courier), AllMart – Local Marketplace, ACT Antigua, and Skye Air Mobility (India’s leading hyperlocal delivery platform).
First Commercial Revenue: Earned initial revenue through a partnership with Hancock Health, a Mayo Clinic Care Network hospital in Indiana, validating real-world adoption of Arrive AI’s technology.
Growth Capital Secured: Took delivery of a $4 million tranche from its previously announced $40 million structured capitalization with Streeterville Capital and completed a PicMii crowdfunding raise with nearly 2,000 new retail investors.
Operational Momentum: Launched three new pilots in healthcare, logistics, and municipal sectors; cut onboarding time to under two weeks, creating a repeatable deployment model.
Team Expansion: Announced plans to triple headcount with 40 new hires in engineering, operations, QA, and AI systems.
IP Leadership: Secured U.S. patent protection for climate-assisted Arrive Points, bringing total issued patents to eight; filed additional patents for climate optimization, adaptive access control and drone landing coordination.
Financial Results
Revenue: $90,725 – first in company history.
Net Loss: $4.69 million – primarily from one-time public listing costs of approximately $3 million. Excluding these, loss was comparable to Q2 2024 of $1.46 million.
Positive Cash Flow – ending the quarter with $607,000 cash on hand and nearly full access to the rest of the new $40 million capital facility.
CEO Commentary
“Our second quarter was about turning vision into tangible action,” said CEO Dan O’Toole. “We moved from R&D to putting our Arrive Points into the field, engaging real-world users, and proving our technology is not just innovative; it’s operational. We’re building the nervous system for a new era of automated logistics, one where packages arrive securely, intelligently, and precisely where they are needed.”
O’Toole added, “Our recent capital raise gives us the financial flexibility and runway to execute without near-term liquidity pressure and federal rulemaking plans indicate important flexibility in drone usage is coming. We are committed to our disciplined investment strategy and business model, have the right team, the right technology, and a clear vision to create enduring value for our shareholders. We are continuing to protect our first-position, foundational patent, as well, as we build for scale, impact and legacy.”
IP & Partnerships: Expanding patent portfolio and embedding technology through strategic industry alliances.
Recurring Revenue Model: Establishing platform-as-a-service agreements where revenue grows with each delivery, data point, and Arrive Point deployed.
2025 Priorities
Hiring: Bringing on AI scientists, software engineers, and sales/marketing staff to drive production, global rollout, and partner acquisition.
Product Development: Scaling production of patented Arrive Points for international deployment.
AI Innovation: Advancing low-cost, edge AI analytics-such as time-of-flight sensor applications-to optimize delivery efficiency without high computational costs.
“If you’ve believed in our vision and opportunity, you’re going to love where we’re headed,” O’Toole said.
SECOND QUARTER CONFERENCE CALL
The company will host a conference call and webcast today at 4:30 PM Eastern Time to review its results and strategic progress. Please join the webcast live via this link: https://edge.media-server.com/mmc/p/psy2vzvk. Webcast participants will be able to submit questions through the webcast portal. A replay of the call will be accessible on https://www.arriveai.com/investor-relations.
-30-
About Arrive AI Arrive AI (NASDAQ:ARAI) is a leader in autonomous delivery infrastructure, developing AI-powered Arrive Points™ to serve as secure, climate-assisted endpoints for package delivery by drones, robots, and conventional carriers. Learn more at https://www.arriveai.com and via the company’s press kit.
This news release and statements of Arrive AI’s management in connection with this news release or related events contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements (including statements related to the closing, and the anticipated benefits to the Company, of the private placement described herein) related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would”, “optimistic” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors which may be beyond our control. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Potential investors should review Arrive AI’s Registration Statement and other filings with the Securities and Exchange Commission, for more complete information, including the risk factors that may affect future results, which are available for review at www.sec.gov. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.
ARRIVE AI INC. CONDENSED BALANCE SHEETS (Unaudited)
June 30, 2025
December 31, 2024
(Unaudited)
ASSETS
CURRENT ASSETS
Cash
$
607,496
$
129,318
Accounts receivable
89,075
–
Prepaid expenses
197,298
55,867
Deferred offering costs
7,182,455
427,898
Other current assets
3,208
4,179
Total current assets
8,079,532
617,262
LONG-TERM ASSETS
Property and equipment, net
126,586
95,425
Patents, net
273,149
273,601
Security deposit
1,500
1,500
Long-term assets
401,235
370,526
TOTAL ASSETS
$
8,480,767
$
987,788
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable
$
725,083
$
1,868,689
Accrued liabilities
52,311
79,556
Credit card payable
13,579
3,636
Convertible note payable, net of discount of $128,000
4,202,000
–
Current portion of note payable
8,827
8,524
Total current liabilities
5,001,800
1,960,405
NONCURRENT LIABILITIES
Note payables, net of current portion
6,068
10,558
Total liabilities
5,007,868
1,970,963
Commitments and Contingencies (See Note 12)
–
STOCKHOLDERS’ EQUITY (DEFICIT)
Common stock, $0.0002 par value, 200,000,000 shares authorized, 33,023,385 shares and 29,120,905 issued and outstanding at June 30, 2025, and December 31, 2024, respectively
7,104
6,322
Treasury stock, 2,500,000 at cost
(500
)
(500
)
Additional paid-in capital, net of offering costs
26,060,146
14,984,561
Subscription receivable
(5,167
)
(53,003
)
Accumulated deficit
(22,588,684
)
(15,920,555
)
Total stockholders’ equity (deficit)
3,472,899
(983,175
)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
$
8,480,767
$
987,788
See condensed notes to unaudited financial statements included in Form 10-Q.
ARRIVE AI INC. CONDENSED STATEMENTS OF OPERATIONS (Unaudited)
Three Months
Six Months
Ended June 30,
Ended June 30,
2025
2024
2025
2024
REVENUE
$
90,725
$
–
$
90,725
$
–
OPERATING EXPENSES
General and administrative
4,286,558
803,311
6,181,537
1,604,242
Research and development
293,468
452,538
384,731
540,939
Sales and marketing
49,602
226,289
57,263
252,746
Total operating expenses
4,629,628
1,482,138
6,623,531
2,397,927
OTHER INCOME (EXPENSES)
Other income
43,151
24,089
60,066
24,089
Interest expense and bank charges
(194,212
)
(1,053
)
(195,389
)
(2,017
Total other income (expenses)
(151,061
)
23,036
(135,323
)
22,072
NET LOSS BEFORE TAXES
(4,689,964
)
(1,459,102
)
(6,668,129
)
(2,375,855
PROVISION FOR INCOME TAXES
–
–
–
–
NET LOSS
$
(4,689,964
)
$
(1,459,102
)
$
(6,668,129
)
$
(2,375,855
NET LOSS PER SHARE:
Basic and diluted
$
(0.15
)
$
(0.05
)
$
(0.22
)
$
(0.08
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING:
Basic and diluted
31,543,921
28,950,088
30,637,620
28,903,132
See condensed notes to unaudited financial statements included in Form 10-Q.
ARRIVE AI INC. CONDENSED STATEMENTS OF CASH FLOWS For the Six Months Ended June 30, 2025 and 2024 (Unaudited)
2025
2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss
$
(6,668,129
)
$
(2,375,855
)
Adjustments to reconcile net loss to net cash used in operating activities
Stock-based compensation
2,845,223
605,615
Depreciation and amortization
17,118
14,469
Amortization of discount on convertible debt
192,000
–
Changes in operating assets and liabilities
(Increase) decrease in
Accounts receivable
(89,075
)
–
Prepaid expenses
(141,431
)
(3,381
)
Other current assets
971
–
Increase (decrease) in
Accounts payable
61,131
344,817
Accrued liabilities
(27,245
)
85,136
Credit card payable
9,943
(24,786
)
Net cash used in operating activities
(3,799,494
)
(1,353,985
)
CASH FLOWS FROM INVESTING ACTIVITIES
Construction in progress
(47,827
)
–
Net cash used in investing activities
(47,827
)
–
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock, net
444,360
1,201,233
Proceeds from the exercise of warrants, net
573,896
–
Repayments of note payables
(4,187
)
(3,905
)
Proceeds from issuance of convertible debt
4,010,000
–
Deferred offering costs
(698,570
)
–
Net cash provided by financing activities
4,325,499
1,197,328
NET INCREASE (DECREASE) IN CASH
478,178
(156,657
)
CASH, BEGINNING OF PERIOD
129,318
325,472
CASH, END OF PERIOD
$
607,496
$
168,815
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for:
Interest
$
1,939
$
888
Income taxes
$
–
$
–
SUPPLEMENTAL DISCLOSURE OF NONCASH INFORMATION
Common stock issued as payment of offering costs
$
6,927,869
$
–
Common stock issued as settlement of legal expenses
$
1,204,737
$
–
Deferred offering costs recognized as additional paid-in capital
$
871,882
$
–
Cashless exercise of stock options
$
8,970
$
–
See condensed notes to unaudited financial statements included in Form 10-Q.
STONY BROOK, NY / ACCESS Newswire / August 14, 2025 / Applied DNA Sciences, Inc. (NASDAQ:APDN) (“Applied DNA” or the “Company”), a biotechnology company focused on providing nucleic acid production solutions for the biopharmaceutical and diagnostics industries, today reported financial results for its third quarter of fiscal 2025 ended June 30, 2025. The Company’s Form 10-Q for its fiscal third quarter can be viewed on the SEC Filings page of its Investor Relations website. The Company will not host a conference call to discuss these results. Applied DNA investor relations remains available for questions at investors@adnas.com .
Following its previously announced recent restructuring and workforce reductions (“Corporate Actions”), the Company, through its majority-owned LineaRx, Inc. subsidiary, has transitioned to a pure play provider of synthetic DNA and mRNA manufacturing solutions for advanced biotherapeutics, such as gene therapies, personalized medicine, adoptive cell therapies, messenger RNA (mRNA) therapeutics, and DNA vaccines, as well as diagnostic applications that utilize chemically-modified DNA. The Company is commercializing three distinct and complementary technology solutions for DNA production:
LineaDNA™: A proprietary, cell-free DNA production platform that uses a large-scale PCR process to rapidly and efficiently produce high-fidelity, synthetic DNA as a market-ready alternative to plasmid DNA (pDNA). LineaDNA is applicable to biotherapeutics development and production, serving as the starting material for mRNA therapeutics and vaccines and as a critical component in numerous in vitro diagnostics (IVDs).
LineaRNAP™: A next-generation T7 RNA polymerase (RNAP) used to transcribe DNA into mRNA. Designed as a direct replacement for wild-type T7 RNAP currently utilized in conventional IVT mRNA systems that use synthetic or pDNA templates, LineaRNAP incorporates a patented DNA-binding domain that delivers high mRNA yields while reducing double-stranded RNA (dsRNA) contamination, the latter a common byproduct in mRNA production.
LineaIVT™: An integrated system that combines the LineaDNA and LineaRNAP technologies and their respective benefits. For mRNA manufacturers, we believe LineaIVT offers reduced dsRNA contamination and expedited mRNA drug substance production, among other advantages.
Management Commentary
“Our operational activities center on repositioning Applied DNA as a single business that is aligned with our proven core competencies, which underpin our commercially available, cell-free DNA and mRNA manufacturing solutions offerings. With operations now right-sized, coupled with active marketing under the LineaRx brand that is now synonymous with synthetically produced DNA, we look forward to delivering value to shareholders,” stated Judy Murrah, chairperson, president, and CEO of Applied DNA.
Recent Corporate and Operational Updates
Financial
Monthly net cash burn from operations in the reported quarter declined approximately 19% on a sequential basis and 25% compared to the prior year period due to cost-cutting and optimization initiatives implemented in prior quarters. The Company expects a further reduction in the quarter ending September 30, 2025, reflecting the implementation of Corporate Actions.
Customer Acquisition and Repeat Orders
Received a multi-gram follow-on order for LineaDNA valued at over $600 thousand from a global manufacturer of IVDs for use in a cancer diagnostic application.
Added a U.S.-based mRNA contract development manufacturing organization as a customer for LineaDNA IVT templates. This customer is also evaluating LineaRNAP.
Shipped multiple LineaDNA sequences to a U.S.-based developer of a novel vaccine delivery system.
Subsequent to quarter-end, sales quotes were provided to a large public biotech and a multinational biotech tools company for LineaDNA to be used in gene editing applications.
Product and Platform Development
Launched the LineaRx IVT Discovery Kit, which enables potential customers to easily and rapidly evaluate the benefits of LineaDNA and LineaIVT performance against conventional mRNA production methods.
Launched industry marketing for LineaRNAP as a standalone product based on recent Company data confirming that LineaRNAP can be used in conventional mRNA production workflows to enable higher mRNA yields and integrity with reduced dsRNA as compared with conventional wild-type T7 RNAP. The Company also continues to market LineaRNAP as a component of its integrated LineaIVT solution.
Initiated ISO 13485 certification, an internationally recognized quality management standard aligned with GMP, to enhance customer trust, expand market opportunities, and elevate LineaRx’s competitive position. The Company expects to be ISO 13485-certified in the first quarter of fiscal 2026.
Participated in multiple mRNA-focused conferences to engage potential customers and showcase its platforms’ capabilities as part of LineaRx’s ongoing sales and marketing strategy.
Third Quarter Fiscal 2025 Financial Highlights
As part of the Corporate Actions, the Company announced the closure of its MDx Testing Services business segment (Applied DNA Clinical Labs) to focus exclusively on LineaRx. Financial results for the reported and prior periods have been recast to separately report discontinued operations and the results of continuing operations.
In February 2025, the Company announced the wind down of its DNA Tagging and Security Products and Services business segment and continues to terminate business activities in this segment in accordance with customer agreements. Financial results for this segment are included in the results of continuing operations for the reported and prior periods.
Please refer to segment information detailed in the ‘Note H – Segment Information’ section of the Form 10-Q for the period reported for more information.
On March 13, 2025, the Company filed a Certificate of Amendment of its Certificate of Incorporation with the Secretary of State of the State of Delaware that effected a one-for-fifty (1:50) reverse stock split of its common stock, par value $0.001 per share, effective March 14, 2025. On May 29, 2025, the Company filed a Certificate of Amendment of its Certificate of Incorporation with the Secretary of State of the State of Delaware that effected a one-for-fifteen (1:15) reverse stock split of its common stock, par value $0.001 per share, effective June 2, 2025. All warrant, option, share, and per share information in this press release gives retroactive effect to these reverse stock splits.
Summary Financial Results
Total revenues: $304 thousand compared to $473 thousand in the third quarter of fiscal 2024.
Operating loss: $3.7 million, compared to an operating loss of $3.3 million in the prior period.
Adjusted EBITDA: Negative $3.9 million, compared to negative $3.2 million in the prior period.
Monthly net cash burn: Monthly net cash burn from operations in the reported period was $934 thousand, compared to $1.15 million in the second quarter of fiscal 2025 and $1.25 million in the prior fiscal year period.
Cash and cash equivalents as of June 30, 2025: $4.7 million, which includes $723 thousand of proceeds from the exercise of Series A warrants received during the reported period. Additional proceeds totaling $292 thousand were received subsequent to the reported period from the exercise of Series A warrants.
Information about Non-GAAP Financial Measures
As used herein, “GAAP” refers to accounting principles generally accepted in the United States of America. To supplement our condensed consolidated financial statements prepared and presented in accordance with GAAP, this earnings release includes Adjusted EBITDA and monthly net cash burn from operations, which are non-GAAP financial measures as defined in Rule 101 of Regulation G promulgated by the Securities and Exchange Commission. Generally, a non-GAAP financial measure is a numerical measure of a company’s historical or future performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information presented in accordance with GAAP. We use this non-GAAP financial measure for internal financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons of the performance and results of operations of our core businesses. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the performance of our businesses by excluding non-cash expenses that may not be indicative of our recurring operating results. We believe these non-GAAP financial measures are useful to investors as they allow for greater transparency with respect to key metrics used by management in its financial and operational decision making.
“EBITDA” – is defined as earnings (loss) before interest expense, income tax expense and depreciation and amortization expense.
“Adjusted EBITDA” – is defined as EBITDA adjusted to exclude (i) stock-based compensation and (ii) other non-cash expenses and non-cash gains/income.
“Monthly net cash burn” – is defined as total monthly cash outflow, including all operating costs, reduced by cash inflow from revenue.
About Applied DNA Sciences
Applied DNA Sciences is a biotechnology company focused on providing nucleic acid production solutions for the biopharmaceutical and diagnostics industries. Through its majority-owned subsidiary, LineaRx, Inc., the Company is commercializing its LineaDNA™, LineaRNAP™, and LineaIVT™ platforms to enable the manufacture of next-generation nucleic acid-based therapies.
The statements made by Applied DNA in this press release may be “forward-looking” in nature within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe Applied DNA’s future plans, projections, strategies, and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Applied DNA. These forward-looking statements are based largely on the Company’s expectations and projections about future events and future trends affecting our business and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including statements regarding its goal to position the Company for long-term growth and value creation and the potential to achieve that goal, including the future success of its LineaDNA, LineaRNAP and LineaIVT technologies. Actual results could differ materially from those projected due to its history of net losses, limited financial resources, unknown future ability to remain compliant with all Nasdaq listing standards, unknown future demand for its biotherapeutics products and services, the unknown amount of revenues and profits that will result from its technologies, the fact that there has never been therapeutic clinical trial material and/or a commercial drug product produced utilizing its technologies, whether its restructuring will position the Company for future growth potential, as well as various other factors detailed from time to time in Applied DNA’s SEC reports and filings, including its Annual Report on Form 10-K filed on December 17, 2024, Forms 10-Q filed on February 13, 2025, May 15, 2025, and August 14, 2025, and other reports it files with the SEC, which are available at www.sec.gov . Applied DNA undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date hereof or to reflect the occurrence of unanticipated events, unless otherwise required by law.
APPLIED DNA SCIENCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS
June 30,
September 30,
2025
2024
ASSETS
(unaudited)
Current assets:
Cash and cash equivalents
$
4,727,677
$
5,852,363
Accounts receivable, net of allowance for credit losses of $80,423 and $75,000 at June 30, 2025 and September 30, 2024, respectively
199,047
328,252
Inventories
338,723
432,725
Prepaid expenses and other current assets
338,447
756,185
Current assets of discontinued operations
25,008
678,146
Total current assets
5,628,902
8,047,671
Property and equipment, net
511,203
458,895
Noncurrent assets of discontinued operations
11,264
94,337
Other assets:
Restricted cash
750,000
750,000
Intangible assets
2,698,975
2,698,975
Operating right of use asset
334,402
739,162
Total assets
$
9,934,746
$
12,789,040
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued liabilities
$
1,564,707
$
1,737,366
Operating lease liability, current
334,403
545,912
Deferred revenue
12,285
58,785
Current liabilities of discontinued operations
124,565
56,061
Total current liabilities
2,035,960
2,398,124
Long term accrued liabilities
31,467
31,467
Deferred revenue, long term
194,000
194,000
Operating lease liability, long term
–
193,249
Deferred tax liability, net
684,115
684,115
Warrants classified as a liability
1,160
320,000
Total liabilities
2,946,702
3,820,955
Commitments and contingencies (Note G)
Applied DNA Sciences, Inc. stockholders’ equity:
Preferred stock, par value $0.001 per share; 10,000,000 shares authorized; -0- shares issued and outstanding as of June 30, 2025 and September 30, 2024
–
–
Series A Preferred stock, par value $0.001 per share; 10,000,000 shares authorized; -0- issued and outstanding as of June 30, 2025 and September 30, 2024
–
–
Series B Preferred stock, par value $0.001 per share; 10,000,000 shares authorized; -0- issued and outstanding as of June 30, 2025 and September 30, 2024
–
–
Common stock, par value $0.001 per share; 200,000,000 shares authorized as of June 30, 2025, and September 30, 2024; 901,500 and 13,755 shares issued and outstanding as of June 30, 2025, and September 30, 2024, respectively
902
14
Additional paid in capital
381,150,267
318,815,358
Accumulated deficit
(373,888,601
)
(309,672,755
)
Applied DNA Sciences, Inc. stockholders’ equity
7,262,568
9,142,617
Noncontrolling interest
(274,524
)
(174,532
)
Total equity
6,988,044
8,968,085
Total liabilities and equity
$
9,934,746
$
12,789,040
APPLIED DNA SCIENCES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Three months Ended June 30,
Nine months Ended June 30,
2025
2024
2025
2024
Revenues
Product revenues
$
195,262
$
246,644
$
1,239,747
$
947,086
Service revenues
109,131
226,145
697,759
678,777
Total revenues
304,393
472,789
1,937,506
1,625,863
Cost of product revenues
299,263
230,188
930,619
853,034
Gross profit
5,130
242,601
1,006,887
772,829
Operating expenses:
Selling, general and administrative
2,930,627
2,635,863
8,423,602
8,440,919
Research and development
768,563
913,031
2,632,931
2,762,040
Total operating expenses
3,699,190
3,548,894
11,056,533
11,202,959
LOSS FROM OPERATIONS
(3,694,060
)
(3,306,293
)
(10,049,646
)
(10,430,130
)
Interest income
40,267
29,688
168,762
33,989
Transaction costs allocated to warrant liabilities
–
–
–
(633,198
)
Unrealized gain on change in fair value of warrants classified as a liability
6,410
5,160,000
318,840
9,564,000
Unrealized loss on change in fair value of warrants classified as a liability – warrant modification
–
–
–
(394,000
)
Loss on issuance of warrants
–
–
–
(1,633,767
)
Other expense, net
(531
)
(103
)
(23,778
)
(9,060
)
(Loss) income before provision for income taxes
(3,647,914
)
1,883,292
(9,585,822
)
(3,502,166
)
Provision for income taxes
–
–
–
–
Net (loss) income from continuing operations
$
(3,647,914
)
$
1,883,292
$
(9,585,822
)
$
(3,502,166
)
Net loss from discontinued operations, net of tax
(336,195
)
(33,791
)
(403,120
)
(272,397
)
NET (LOSS) INCOME
$
(3,984,109
)
$
1,849,501
$
(9,988,942
)
$
(3,774,563
)
Less: Net loss attributable to noncontrolling interest
38,746
30,295
99,992
78,785
NET (LOSS) INCOME attributable to Applied DNA Sciences, Inc.
$
(3,945,363
)
$
1,879,796
$
(9,888,950
)
$
(3,695,778
)
Deemed dividend related to warrant modifications
(15,500,244
)
–
(54,326,896
)
(233,087
)
NET (LOSS) INCOME attributable to common stockholders
$
(19,445,607
)
$
1,879,796
$
(64,215,846
)
$
(3,928,865
)
Net (loss) income per share attributable to common stockholders-basic and diluted from continuing operations
$
(33.41
)
$
1,191.52
$
(255.14
)
$
(4,862.32
)
Net loss per share attributable to common stockholders-basic and diluted from discontinued operations
(0.59
)
(21.04
)
(1.61
)
(362.23
)
Net (loss) income per share attributable to common stockholders-basic and diluted
$
(34.00
)
$
1,170.48
$
(256.75
)
$
(5,224.55
)
Weighted average shares outstanding- basic and diluted
572,018
1,606
250,107
752
APPLIED DNA SCIENCES, INC. CALCULATION AND RECONCILIATION OF ADJUSTED EBITDA (unaudited)
Three-Month Period Ended June 30,
2025
2024
Net loss
$
(3,984,109
)
$
1,849,501
Interest income
(40,267
)
(29,688
)
Depreciation and amortization
78,346
134,163
Stock-based compensation expense
24,889
30,336
Unrealized (loss) on change in fair value of warrants classified as a liability
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