APUS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-14

• The following discussion and analysis should be read together with our unaudited condensed consolidated financial statements and the related notes included in Item 1 of this Quarterly Report and our audited consolidated financial statements for the year ended December 31, 2025. This discussion conta…

• We operate through two reportable segments. Our BioBusiness segment, conducted through our subsidiary Lokahi Therapeutics Inc., is a clinical-stage pharmaceutical business developing APITOX for the treatment of pain associated with osteoarthritis and other indications. Our Digital Asset segment, con…

• On April 24, 2026 we entered into a Confidential Settlement Agreement and Mutual Release providing, among other things, for a working capital contribution to the BioBusiness, the distribution of 51% of the equity of Lokahi and a contemplated spin-off of the BioBusiness within approximately twelve mo…

• We have incurred recurring losses and negative operating cash flows. We incurred a net loss of $55,232,982 for the six months ended June 30, 2026, used $7,734,893 of cash in operating activities, and had an accumulated deficit of $65,626,043 and cash and cash equivalents of $278,371 as of June 30, 2…

• Results of Operations — Three Months Ended June 30, 2026 Compared to Three Months Ended June 30, 2025

Text removed vs the prior filing · source: 10-Q · 2026-05-26

• References in this report (the “Quarterly Report”) to “we,” “us” or the “Company” refer to Apimeds Pharmaceuticals US, Inc. References to our “management” or our “management team” refer to our officers and directors. The following discussion and analysis of our financial condition and results of ope…

• This Quarterly Report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those expected and proj…

• The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the unaudited condensed financial statements and the notes thereto contained elsewhere in this Quarterly Report. Certain information contained in the discussion and analysis …

• Apimeds Pharmaceuticals US, Inc. is a development-stage biopharmaceutical company incorporated in the State of Delaware. Our primary focus is the clinical development of Apitox, a purified honeybee venom-based drug candidate being evaluated for the treatment of acute pain and inflammation associated…

• Through MindWave Innovations, the Company holds Bitcoin (“BTC”), Tether (“USDT”), and MindWaveDAO NILA tokens (“NILA”), and participates in the MindWaveDAO blockchain ecosystem through the continued sale of NILA. The Digital Asset segment’s performance is subject to the volatility inherent in crypto…

Text added vs the prior filing · source: 10-Q · 2026-08-14

• As a smaller reporting company, we are not required to provide the information required by this Item. Notwithstanding the foregoing, our results of operations and financial condition are subject to significant market risk from changes in the fair value of our digital-asset holdings, which are measur…

Text removed vs the prior filing · source: 10-Q · 2026-05-26

• As a smaller reporting company, we have elected not to provide the disclosure required by this item.

Text added vs the prior filing · source: 10-Q · 2026-08-14

• Evaluation of Disclosure Controls and Procedures. Our management, with the participation of our principal executive officers and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as …

• Changes in Internal Control over Financial Reporting. There were no changes in our internal control over financial reporting during the quarter ended June 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. During the …

Text removed vs the prior filing · source: 10-Q · 2026-05-26

• Management, under the supervision and with the participation of the Chief Executive Officer and Chief Financial Officer, have conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exch…

• Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this Quarterly Report in providing reasonable assurance of achieving the desired control objectives. This …

• Management’s Report on Internal Control over Financial Reporting

• Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f). Internal control over financial reporting refers to the process designed by, or under the supervision of, our prin…

• (1) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets

Text added vs the prior filing · source: 10-Q · 2026-08-14

• From time to time we may be involved in legal proceedings arising in the ordinary course of business. On April 24, 2026 we entered into a Confidential Settlement Agreement and Mutual Release resolving disputes with certain former officers, directors and shareholders, as described in Note 1 and Note …

Text removed vs the prior filing · source: 10-Q · 2026-05-26

• We are not currently subject to any legal proceedings. However, we may from time to time become a party to various legal proceedings arising in the ordinary course of our business.

Text added vs the prior filing · source: 10-Q · 2026-08-14

• There have been no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025, other than as follows. Our digital-asset holdings represented 89% of our total assets as of June 30, 2026 and are measured at fair value with changes r…

Text removed vs the prior filing · source: 10-Q · 2026-05-26

• As a smaller reporting company under Rule 12b-2 of the Exchange Act, we are not required to include risk factors in this Quarterly Report. However, as of the date of this Quarterly Report, there have been no material changes with respect to those risk factors previously disclosed in the “Risk Factor…