SNOA — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-06-16

• · In March 2026, we announced the U.S. retail launch of our advanced HOCl-based burn relief hydrogel in CVS and Walmart stores in the United States.

• · Also in March 2026, we announced the launch of Aquanil® AD, a hypochlorous acid based dermatology product line for sensitive skin, developed exclusively for Persōn & Covey, Inc. for distribution through its established over-the-counter dermatology channels in the United States.

• · In October 2025, we announced the registration of our manufacturing facility and listing of our Microcyn-based facial spray under the FDA's Modernization of Cosmetics Regulation Act of 2022 (MoCRA).

• · In October 2025, we announced the launch of a new HOCl wound cleanser for Medline Industries, LP, to be distributed into hospital systems, home healthcare and other healthcare channels across the United States.

• · In August 2025, Reliefacyn® Advanced Itch-Burn-Rash-Pain Relief Hydrogel earned the National Psoriasis Foundation (NPF) Seal of Recognition, and in November 2025, Reliefacyn earned the National Rosacea Society (NRS) Seal of Acceptance.

Text removed vs the prior filing · source: 10-K · 2025-06-17

• · We successfully transitioned all of our commercialized products in Europe, including eye care, wound care, scar gel, acne products and atopic dermatitis products to the new European Union (EU) Medical Device Regulation (MDR).

• · Our manufacturing facility and five of our products were successfully registered with the Medicines & Healthcare products Regulatory Agency (MHRA) in the United Kingdom, including our wound irrigation solution, scar management products, wound hydrogel, and skin exfoliant, and we partnered with a l…

• · In January 2025, we partnered with WellSpring Pharmaceutical Corporation for the sale of our Microcyn technology-based products to large retailers in the United States. In March 2025 and June 2025, we expanded our agreement with WellSpring to include additional consumer focused products.

• · In September and November 2024, we received two new 510(k) clearances from the FDA, including specific over-the-counter indications for the face, eyelid and eyelashes, as well as improved biocompatibility for our Microcyn-based solution and hydrogel.

• · In December 2024, we announced the relaunch of our prescription eye care product, Acuicyn®, our prescription dermatology products Celacyn®, Levicyn® and Epicyn®, and our over-the-counter Lasercyn® Dermal Spray and Lasercyn Gel.

Text added vs the prior filing · source: 10-K · 2026-06-16

• Nasdaq monitors our ongoing compliance with its minimum listing requirements. If we fail to satisfy the continued listing requirements of the Nasdaq Capital Market, such as the minimum closing bid price requirement and corporate governance requirements, Nasdaq may take steps to delist our common sto…

• The delisting of our common stock from Nasdaq would have a material adverse effect on our access to capital markets, and any limitation on market liquidity or reduction in the price of its common stock as a result of that delisting would adversely affect our ability to raise capital on terms accepta…

Text removed vs the prior filing · source: 10-K · 2025-06-17

• We have a history of losses, we expect to continue to incur losses and we may never achieve profitability, and our March 31, 2025 audited consolidated financial statements included disclosure that casts substantial doubt regarding our ability to continue as a going concern.

• We spent the most recent years working to reduce our losses and have made significant progress. However, we expect to continue incurring losses for the foreseeable future. We may never achieve or sustain profitability. We must raise additional capital to pursue our product development initiatives, p…

• If we fail to satisfy the continued listing requirements of the Nasdaq Capital Market, such as the minimum closing bid price requirement and corporate governance requirements, Nasdaq may take steps to delist our common stock. The delisting of our common stock from Nasdaq would have a material advers…

Text added vs the prior filing · source: 10-K · 2026-06-16

• On an ongoing basis, we evaluate our estimates and judgments. Areas in which we exercise significant judgment include, but are not

• Revenues in the U.S. increased 117%, primarily as a result of an increase in sales of over-the-counter products and increased sales by new and existing distributors.

• Europe revenues increased 25% as a result of increased demand for our products and favorable exchange rates.

• Revenues in Asia increased 25% and Rest of World revenues increased 92% due to timing of customer orders and royalty revenue from our customer in India. Revenues from these regions tend to fluctuate due to customers placing larger, but less frequent, orders to benefit from quantity discounts and red…

• Latin America revenues decreased 20%, primarily due to timing of customer orders for overflow manufacturing.

Text removed vs the prior filing · source: 10-K · 2025-06-17

• On an ongoing basis, we evaluate our estimates and judgments. Areas in which we exercise significant judgment include, but are not necessarily limited to, our valuation of accounts receivable, inventory, income taxes, and equity transactions (compensatory and financing).

• The decrease in United States revenue of $447,000 for the year ended March 31, 2025, was primarily the result of fluctuations in demand for over-the-counter animal health care products.

• The increase in Europe revenue for the year ended March 31, 2025 of $742,000 was the result of a general increase in demand for our products and, more specifically, an increase in demand for our wound care products due to recent world events.

• The increase in Asia revenue of $19,000 for the year ended March 31, 2025 was primarily due to timing of customer orders.

• The increase in Latin America revenue for the year ended March 31, 2025 of $1,236,000 was primarily due to an increase in manufacturing orders.