ChronoScale Holdings Corp 8-K, filed Jan 13, 2021
ChronoScale Holdings Corp (CHRN)
8-K
2021-01-13
For: 2021-01-13
View Original
Added on
April 07, 2026
About this 8-K
ChronoScale Holdings Corp filed this 8-K on January 13, 2021.
Items reported
- Item 2.02: Financial results
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported)
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(Address of Principal Executive Offices) | (Zip Code) | ||||||||||
(510 ) 984-1761
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Not Applicable
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Item 2.02 Results of Operations and Financial Condition
On January 13, 2021, Ekso Bionics Holdings, Inc. (the “Company”) issued a press release (the “Press Release”) announcing certain preliminary financial results for the quarter and year ended December 31, 2020.
The full text of the Press Release announcing such results is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information in Item 2.02 of this Current Report on Form 8-K, including the information contained in Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 8.01 Other Events.
In the Press Release, the Company reports the following preliminary financial results:
•Revenue for the fourth quarter of 2020 is an estimated $2.3 million, compared to total revenue of $3.7 million in the fourth quarter of 2019.
•Total revenue for fiscal year 2020 is estimated to be approximately $8.9 million, compared to $13.9 million in 2019.
•Cash at December 31, 2020 was $12.9 million, compared to $10.9 million at December 31, 2019.
The estimated, projected or anticipated financial results, financial condition or other financial information discussed in this Current Report on Form 8-K are based on management’s preliminary unaudited analysis of financial results for the period and year ended December 31, 2020. As of the date of this report, the Company has not completed its financial statement reporting process for the period ended December 31, 2020, and the Company’s independent registered accounting firm has not audited the preliminary financial data discussed in this Current Report on Form 8-K. During the course of the Company’s quarter-end closing procedures and review process, including the finalization of its financial statements for and as of the period and year ended December 31, 2020, the Company may identify items that would require it to make adjustments, which may be material to the information presented above. As a result, the estimates above constitute forward-looking information. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to risks and uncertainties that may cause the actual results and timing of certain events and circumstances to be materially different from those described by the forward-looking statements. Such resulting differences may include material adjustments to the information provided above. The Company does not undertake to update these forward-looking statements.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit | Description | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EKSO BIONICS HOLDINGS, INC. | |||||
| By: | /s/ John F. Glenn | ||||
| Name: | John F. Glenn | ||||
| Title: | Chief Financial Officer | ||||
| Dated: | January 13, 2021 | ||||
Ekso Bionics Reports Preliminary Fourth Quarter and Full Year 2020 Financial Results
RICHMOND, Calif., - January 13, 2021 – Ekso Bionics Holdings, Inc. (Nasdaq: EKSO), an industry leader in exoskeleton technology for medical and industrial use, today announced preliminary top line financial results for the fourth quarter and fiscal year ended December 31, 2020.
Total revenue for the fourth quarter of 2020 is an estimated $2.3 million, compared to total revenue of $3.7 million in the fourth quarter of 2019. Total revenue for fiscal year 2020 is estimated to be approximately $8.9 million, compared to $13.9 million in 2019.
Cash at December 31, 2020 was $12.9 million, compared to $10.9 million at December 31, 2019.
“Our estimated fourth quarter 2020 revenue reflected solid performance as we executed on key initiatives while navigating through COVID-related market challenges,” commented Jack Peurach, President and Chief Executive Officer of Ekso Bionics. “During the quarter, we continued to gain traction with our network operator strategy in the medical business. We believe that our new subscription model, which reduces capital constraints, will facilitate additional strategic deals and further expand our installed base in 2021. We are also pleased that our latest industrial innovation, EVO™, generated strong customer excitement and solid initial adoption trends following its August 2020 launch. Looking ahead, we remain confident that as the COVID situation improves, our growing pipeline of opportunities will build greater momentum supported by our compelling value propositions in both the medical and industrial fronts.”
The anticipated results discussed in this press release are based on management’s preliminary, unaudited analysis of financial results for the period and year ended December 31, 2020. As of the date of this press release, the Company has not completed its financial statement reporting process for the period and year ended December 31, 2020, and the Company’s independent registered accounting firm has not audited the preliminary financial data discussed in this press release. During the course of the Company’s quarter-end closing procedures and review process, the Company may identify items that would require it to make adjustments, which may be material to the information presented above. As a result, the estimates above constitute forward-looking information and are subject to risks and uncertainties, including possible adjustments to preliminary operating results. The Company expects to report complete fourth quarter and full year 2020 financial results during the last week of February 2021.
About Ekso Bionics®
Ekso Bionics® is a leading developer of exoskeleton solutions that amplify human potential by supporting or enhancing strength, endurance and mobility across medical and industrial applications. Founded in 2005, the Company continues to build upon its industry-leading expertise to design some of the most cutting-edge, innovative wearable robots available on the market. Ekso Bionics is the only exoskeleton company to offer technologies that range from helping those with paralysis to stand up and walk, to enhancing human capabilities on job sites across the globe. The Company is headquartered in the San Francisco Bay Area and is listed on the Nasdaq Capital Market under the symbol “EKSO.” For more information, visit: www.eksobionics.com or follow @EksoBionics on Twitter.
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Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of human exoskeletons, plans or strategy relating to the marketing and adoption and acceptance of the Company’s products and potential for adoption of the Company’s products by the market, (ii) estimates or projection of financial results, financial condition, capital expenditures, capital structure or other financial items, (iii) the Company's future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (iii) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, changes resulting from the Company’s finalization of its financial statements for and as of the period and year ended December 31, 2020, information or new changes in facts or circumstances that may occur prior to the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 that are required to be included in such annual report, the Company's inability to obtain adequate financing to fund the Company's operations and necessary to develop or enhance our technology, the significant length of time and resources associated with the development of the Company's products, the Company's failure to achieve broad market acceptance of the Company's products, the failure of our sales and marketing organization or partners to market our products effectively, adverse results in future clinical studies of the Company's medical device products, the failure to obtain or maintain patent protection for the Company's technology, failure to obtain or maintain regulatory approval to market the Company's medical devices, lack of product diversification, existing or increased competition, the Company's failure to implement the Company's business plans or strategies and the impact of the COVID-19 pandemic. These and other factors are identified and described in more detail in the Company's filings with the SEC. To learn more about Ekso Bionics please visit us at www.eksobionics.com or refer to our Twitter page at @EksoBionics. The Company does not undertake to update these forward-looking statements.
Investor Contact:
David Carey
212-867-1768
investors@eksobionics.com
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