Cash Position
The company has 47.3 months of cash left based on the quarterly cash burn of $1.06 M and estimated current cash of $16.77 M
Commentary on Financial Condition
LogicMark, Inc. has recently raised approximately $14.4 million through a public offering, which they plan to use for product development and general corporate purposes. Despite a decrease in revenue and a net loss of $9.0 million for 2024, the company believes its current cash position and recent fundraising will sustain operations for the next year. However, the company faces a risk of delisting from Nasdaq due to non-compliance with the Minimum Bid Price Requirement, although they are appealing this decision. LogicMark may consider future equity or debt offerings to support its long-term strategic goals., Filed At: 2025-03-28
Former Symbols
Nasdaq Compliance
Date
Deficiency
Market
Status
Notes
Mar 20, 2025
Bid Price
NCM
OPEN
LogicMark, Inc. is currently facing a Nasdaq delisting due to non-compliance with the Minimum Bid Price Requirement, as its stock has been below $1.00 for 30 consecutive business days. The company has requested a hearing to appeal the delisting decision, with a deadline to appeal by March 27, 2025, and a scheduled delisting date of March 31, 2025, unless the appeal is successful, as of the filing on March 21, 2025.
Previous Splits
Date
Split
11/19/2024
25 to 1
4/24/2023
20 to 1
10/18/2021
10 to 1
9/12/2016
10 to 1
ATM
Warrants
Title | Registered | Remaining Warrants | Ex Price | Cost Basis | Total Warrants | Owners | Bank | Price Protection | Details | Exercisable Date | Expiration Date | Filed Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
February 2025 - Series C Warrant | Registered | 122,033,750 | $0.11 | - | 122,033,750 | - | Roth Capital Partners, LLC | Full Ratchet, Proportional Adjustment | Reset after the shareholder approval on 3/27/25 | - | Feb 18, 2030 | Feb 18, 2025 | |
February 2025 - Series D Warrant | Registered | 515,716,875 | $0.00 | - | 515,716,875 | - | Roth Capital Partners, LLC | Alternate Cashless, Reset, Proportional Adjustment | Reset after the shareholder approval on 3/27/25 | - | Aug 18, 2027 | Feb 18, 2025 | |
Exchanged for Series H Preferred - August 2024 - B Warrants - Ex price to be reset to the lowest vwap 5 days before R/S subject to floor of $0.09 | Registered | - | $11.50 | - | 386,800 | Altium, Insiders | Reset, Proportional Adjustment | The exercise price of each Series A and Series B Warrant will be adjusted once after a reverse stock split. If the lowest VWAP in the five trading days before and after the split is lower than the current exercise price, the price will be reduced to this lowest price, but not below a set floor price. When this happens, the number of shares you can get with the warrants will increase so that the total cost to exercise the warrants remains the same as before the price adjustment. If the adjustment would increase the exercise price, it will instead be set to the lowest price in the five days before and including the exercise date. The total exercise price is based on the price at the offering's close, adjusted for any previous exercises, and not on a reduced price without a proportional increase in shares. | - | - | Aug 5, 2024 | ||
Shareholder approval Oct 1 - August 2024 - A Warrants - Ex price to be reset to the lowest vwap 5 days before R/S subject to floor of $0.09 | Registered | 386,800 | $11.50 | - | 386,800 | Altium, Insiders | Reset, Proportional Adjustment | The exercise price of each Series A and Series B Warrant will be adjusted once after a reverse stock split. If the lowest VWAP during the five trading days before and after the split is lower than the current exercise price, the price will be reduced to this lowest price, but not below a set floor price. When the exercise price is adjusted, the number of shares issuable will increase so that the total exercise cost remains the same as before the adjustment. If the adjustment would increase the exercise price, it will instead be set to the lowest price during the five days before and including the exercise date. The total exercise cost is based on the initial offering price, adjusted for any prior exercises, and not on a reduced price without a proportional increase in shares. | - | - | Aug 5, 2024 | ||
November 2023 - Warrants | Registered | 109,087 | $50.00 | - | 109,087 | Anson, Armistice, Boothbay, CVI, District 2, Hudson Bay, Intracoastal, Iroquois, Kingsbrook, SNH | Customary Anti-Dilution | - | - | Nov 21, 2023 | |||
January 2023 - Warrants | Registered | 5,713 | $50.00 | - | 42,075 | N/A | Reset | If the Company conducts a reverse stock split at the Special Meeting, the Warrant exercise price will be reset to the lower of: (i) the adjusted exercise price after the split, or (ii) the adjusted closing price of the Common Stock just before the split. | - | - | Jan 25, 2023 | ||
September 2021 - Warrants | Registered | 5,577 | $50.00 | - | 5,577 | N/A | Customary Anti-Dilution | - | - | Sep 17, 2021 |
Convertibles
Title | Registered | Shares Remaining | Cv Price | $ Amt Remaining | Total $ Amt | Owners | Bank | Price Protection | Details | Convertible Date | Maturity Date | Filed Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
November 2024 - - Series I Convertible Preferred Stock | Not Registered | 86,022 | $11.63 | $1,000,000.00 | $1,000,000.00 | Altium | Reset | The conversion price will reset on the fifth trading day after the Reverse Stock Split to the higher of: (i) the lowest average price of the Common Stock on Nasdaq during the five days before the reset date, or (ii) $0.1785. | Nov 13, 2024 | - | Nov 14, 2024 | ||
November 2024 - - Series H Convertible - The conversion price will reset on the fifth trading day following the effective date of the Reverse Stock Split to the greater of (i) the lowest volume weighted average price of the Common Stock on the Nasdaq Stock Market LLC during the five trading days immediately preceding the reset date and (ii) the floor price of $0.1785. | Not Registered | 86,022 | $11.63 | $1,000,000.00 | $1,000,000.00 | Altium | Altium | Reset | The conversion price will reset on the fifth trading day after the Reverse Stock Split to the higher of: (i) the lowest average price of the Common Stock on Nasdaq during the five days before the reset date, or (ii) $0.1785. | Nov 13, 2024 | - | Nov 13, 2024 | |
August 2021 -Series F Convertible Stock | Registered | 170 | $1,875.00 | $319,000.00 | $4,000,000.00 | 3i, Alpha Capital Anstalt, Anson | N/A | - | - | Aug 13, 2021 | |||
August 2021 -Series F Convertible Stock | Registered | 170 | $1,875.00 | $319,000.00 | $4,000,000.00 | 3i, Alpha Capital Anstalt, Anson | N/A | - | - | Aug 13, 2021 |
Completed Offerings
Title | Offering Amt | Shr Amt | Share Price | Warrants | Bank | Owners | Date | Type | |
|---|---|---|---|---|---|---|---|---|---|
REGISTERED OFFERING | $14.40 M | 24.41 M | $0.59 | 24.41 M | Roth Capital Partners | - | Feb 18, 2025 | 8-K | |
REGISTERED OFFERING (UNDERWRITTEN) | $4.50 M | 386.80 k | $11.75 | 773.60 k | Roth | Altium, Insiders | Aug 2, 2024 | 8-K | |
REGISTERED OFFERING (UNDERWRITTEN) | $5.20 M | 28.05 k | $185.00 | 42.08 k | Maxim | - | Jan 23, 2023 | 8-K | |
REGISTERED OFFERING (UNDERWRITTEN) | $12.55 M | 5.58 k | $2,250.00 | 5.58 k | AGP | - | Sep 15, 2021 | 8-K | |
PRIVATE PLACEMENT | $4.00 M | 2.13 k | $1,850.00 | 1.33 k | - | 3i, Alpha Capital Anstalt, Anson | Aug 13, 2021 | 8-K | |
REGISTERED OFFERING | $4.00 M | 590.40 | $6,800.00 | 590.40 | - | - | Feb 1, 2021 | 8-K | |
REGISTERED OFFERING | $2.00 M | 606.08 | $3,300.00 | 1.21 k | - | - | Dec 18, 2020 | 8-K | |
REGISTERED OFFERING (RDO) | $2.79 M | 902.68 | $2,050.00 | 315.96 | None | - | Jul 13, 2020 | 8-K | |
ATM USED | $4.46 M | - | - | - | - | - | Jun 30, 2019 | ||
REGISTERED OFFERING (RDO) | $2.00 M | 493.84 | $4,050.00 | 493.84 | None | Anson | Apr 4, 2019 | 8-K |