Except for historical information, all of the statements, expectations and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions, including estimated market opportunities for our products, product candidates and platform technology. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and in some cases are likely to, differ materially from what is expressed or forecasted in the forward-looking statements. In addition, such statements could be affected by risks and uncertainties related to, among other things: risks of our clinical trials, including, but not limited to, the costs, design, initiation and enrollment, timing, progress and results of such trials; the timing of, and our ability to submit applications for, obtaining and maintaining regulatory approvals for our product candidates; the potential impacts of any disruptions on our supply chain, including the availability of sufficient components and materials used in our products and product candidates; the potential advantages of our products, product candidates and platform technology; the rate and degree of market acceptance and clinical utility of our products and product candidates; our estimates regarding the potential market opportunity for our products and product candidates; reliance on third parties to develop and commercialize our products and product candidates; the ability of us and our partners to timely develop, implement and maintain manufacturing, commercialization and marketing capabilities and strategies for our products and product candidates; the risk of defects in, or returns of, our products; intellectual property risks; changes in legal, regulatory and legislative environments in the markets in which we operate and the impact of these changes on our ability to obtain regulatory approval for our products; our competitive position; and other risks described from time to time in the “Risk Factors” section of our filings with the U.S. Securities and Exchange Commission, including those described in our Annual Report on Form 10-K as well as our Quarterly Reports on Form 10-Q, and supplemented from time to time by our Current Reports on Form 8-K. Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, Eyenovia does not undertake any obligation to update any forward-looking statements.
EYENOVIA, INC. Condensed Balance Sheet March 31, December 31, 2024 2023 (unaudited) Assets Current Assets Cash and cash equivalents $7,976,106 $14,849,057 Inventories 3,513,860 109,798 Deferred clinical supply costs 846,301 4,256,793 License fee and expense reimbursements receivable 88,045 123,833 Security deposits, current 1,506 1,506 Prepaid expenses and other current assets 2,025,267 1,365,731 Total Current Assets 14,451,085 20,706,718 Property and equipment, net 3,155,710 3,374,384 Security deposits, non-current 197,168 197,168 Intangible assets 6,122,945 2,122,945 Operating lease right-of-use asset 1,538,814 1,666,718 Equipment deposits 711,441 711,441 Total Assets $26,177,163 $28,779,374 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $2,145,272 $1,753,172 Accrued compensation 828,286 1,658,613 Accrued expenses and other current liabilities 4,751,755 287,928 Operating lease liabilities - current portion 579,585 501,250 Notes payable - current portion, net of debt discount of $621,712 and $503,914 as of March 31, 2024 and December 31, 2023, respectively 8,155,025 5,329,419 Total Current Liabilities 16,459,923 9,530,382 Operating lease liabilities - non-current portion 1,140,231 1,292,667 Notes payable - non-current portion, net of debt discount of $200,711 and $448,367 as of March 31, 2024 and December 31, 2023, respectively 2,103,456 4,355,800 Convertible notes payable - net of debt discount of $344,219 and $398,569 as of March 31, 2024 and December 31, 2023, respectively 4,655,781 4,601,431 Total Liabilities 24,359,391 19,780,280 Stockholders' Equity: Preferred stock, $0.0001 par value, 6,000,000 shares authorized; 0 shares issued and outstanding as of March 31, 2024 and December 31, 2023 Common stock, $0.0001 par value, 90,000,000 shares authorized; 47,386,349 and 45,553,026 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 4,738 4,555 Additional paid-in capital 158,226,694 154,486,098 Accumulated deficit (156,413,660) (145,491,559) Total Stockholders' Equity 1,817,772 8,999,094 Total Liabilities and Stockholders' Equity $26,177,163 $28,779,374