VTAK — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-18

• This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “…

• Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Actual outcomes or results may differ from anticipated results, sometimes materially. Factors that could cause actual results to differ include, but are not limited to: th…

• In February 2026, we entered into an Acquisition Purchase Agreement with SEG Jets LLC ("SEG Jets"), whereby we agreed to acquire 19.98% of the issued and outstanding shares of common stock of Fly Flyte, Inc. ("FLYTE") held by SEG Jets in exchange for 5,250 shares of our newly designated Series D Con…

• Following the March 2026 acquisition of FLYTE, we now operate in two reporting segments: (i) cardiac electrophysiology and (ii) private aviation charter services.

• Our business strategy is to become a leading medical device company in the field of cardiac electrophysiology, and we are dedicated to developing and delivering electrophysiology products to provide patients, hospitals, and physicians with novel technologies and solutions to improve the lives of pat…

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• This Quarterly Report on Form 10-Q, or Quarterly Report, contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available. This section should be read in conjunction with our unaudited condensed financial statements and related not…

• Forward-looking statements can be identified by words such as “believe,” “anticipate,” “may,” “might,” “can,” “could,” “continue,” “depends,” “expect,” “expand,” “explore,” “forecast,” “intend,” “predict,” “plan,” “pursue,” “pursuit,” “rely,” “should,” “will,” “may,” “seek,” or the negative of these…

• Clinical studies for LockeT began during the year ended December 31, 2023. The current studies are planned to show the product’s effectiveness and benefits, including faster wound closure and patient ambulation/discharge, potentially resulting in higher procedural volumes and lower costs for the hea…

• On January 14, 2025, we entered into a Membership Interest Purchase Agreement ("Agreement”) with Cardiofront, LLC (“Seller”) to purchase the issued and outstanding membership interests of PeriKard, LLC, a wholly-owned subsidiary of Seller. The primary purpose of the acquisition was to purchase paten…

• The acquisition was accounted for as an asset acquisition consisting primarily of a single patent for pericardial access technology. The patent was determined to be in-process research and development ("IPR&D") with no alternative future use, and accordingly, we recognized $119 thousand, consisting …

Text added vs the prior filing · source: 10-Q · 2026-05-18

• Our management, with the participation of our Executive Chairman of the Board and Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended, or the Exch…

• During the quarter ended March 31, 2026 and as noted elsewhere in this Form 10-Q, the Company completed the acquisition of FLYTE. The Company has elected to exclude FLYTE from management's assessment of internal control over financial reporting for the period from the acquisition date through March …

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• Our management, with the participation of our Executive Chairman of the Board and Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended, or the Exch…

• Management has developed and implemented a remediation plan. The material weaknesses will not be considered remediated until management designs and implements effective controls that operate for a sufficient period of time and management has concluded, through testing, that these controls are effect…

Text added vs the prior filing · source: 10-Q · 2026-05-18

• From time to time, we may be involved in litigation that arises through the normal course of business. As of the date of this filing and except as set forth below, we are neither a party to any litigation nor are we aware of any such threatened or pending litigation which we believe might result in …

• In connection with the FLYTE acquisition, the Company assumed certain contingent liabilities, including an employment dispute with a former FLYTE employee alleging wrongful termination. The matter is currently proceeding through arbitration.

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• Reference is made to the information disclosed under Item 3 — "Legal Proceedings" in our Annual Report on Form 10-K for the year ended December 31, 2024.

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• On July 11, 2025, two short term promissory notes of $150 thousand each were issued by the Company’s majority-owned subsidiary KardioNav to David Jenkins, the Company's Chairman of the Board and Chief Executive Officer, and Lifestim, Inc., a company controlled by Mr. Jenkins, in exchange for an aggr…

• The notes, including all principal and interest, accelerate and become immediately due and payable upon the occurrence of certain customary events of default, including failure to pay amounts owed when due, material breach of the Company’s representations or warranties (unless waived by the holders …