Substantial doubt about the company's ability to continue as a going concern.
“As a result, management has concluded that substantial doubt exists about the Company’s ability to continue as a going concern for 12 months from the date these condensed consolidated financial statements are issued. These uncertainties create substantial doubt about our ability to continue as a going concern.”View the 10-Q filed Nov 10, 2026
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Co-Diagnostics shareholders increased the equity incentive plan reserve by 2,000,000 shares to 2,223,333, approved warrants for 3,404,724 shares at $1.56, and authorized reverse stock splits of not less than 1-for-2 and up to 1-for-750.
Co-Diagnostics reported $0.7 million cash and cash equivalents at September 30, 2026, versus total current liabilities of $2.5 million, and said additional capital is required, creating substantial doubt about its ability to continue as a going concern.
Co-Diagnostics reported third-quarter revenue of $0.3 million versus $0.1 million in the third quarter of 2025, but net loss was $6.3 million versus $5.9 million. Cash and cash equivalents totaled $0.7 million as of September 30, 2026.
Co-Diagnostics registered up to 39,594,495 common shares for J.J. Astor & Co.’s resale, including conversion shares and 600,000 commitment shares tied to convertible notes. Astor funded $2.1 million initially, with another $1.0 million available; Co-Diagnostics receives no resale proceeds.
Co-Diagnostics, Inc. will ask shareholders on November 13, 2026 to authorize reverse stock splits of not less than 1-for-2 and up to 1-for-750, approve potential exercise of warrants for 3,404,724 shares at $1.56 per share, and address director elections and equity compensation.
Co-Diagnostics will hold a court-ordered 2026 Special Meeting of Shareholders to elect five directors, approve new warrant exercises for 3,404,724 shares at $1.56, authorize reverse stock splits up to 1-for-750, and ratify Tanner LLC as auditor.
Co-Diagnostics, Inc. could not conduct business at its reconvened October 14, 2026 Annual Meeting because no quorum was present, ended the meeting without another adjournment, and plans to seek stockholder approval at a future special meeting.
Co-Diagnostics, Inc. entered a loan with J.J. Astor & Co. on October 9, 2026. The initial $2.1 million funding carried $2.835 million principal, and $1.0 million is available after 60 days; ATM proceeds flow to the lender under a waterfall.
Co-Diagnostics entered a senior secured convertible loan with J.J. Astor & Co. on October 9, 2026, providing up to $3.1 million, including an initial $2.1 million funding and $2.835 million note, payable in 30 weekly installments.
Co-Diagnostics, Inc.’s Annual Meeting again failed to achieve quorum and was adjourned to October 14, 2026, at 9:30 a.m. Mountain Time.
Co-Diagnostics, Inc. failed to achieve a quorum at its September 3, 2026 and September 24, 2026 Annual Meetings, adjourning the meeting again to September 30, 2026 at 9:00 a.m. Mountain Time.
Co-Diagnostics, Inc. seeks approval for warrant exercises covering 3,404,724 shares at $1.56 per share, potentially generating approximately $5.31 million, and a reverse split ranging from 1-for-2 to 1-for-50.
