BIOMERICA INC: Results of operations and financial situation, other events, financial statements and exhibits (form 8-K)
Item 2.02 Results of operations and financial position.
Information provided under this Section 2.02 and the Attachment hereto as Exhibit 99.1 will not be considered “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), or otherwise subject to the responsibilities of this section, nor shall it be deemed to be incorporated by reference in any filing by the Company under the Securities Act of 1933, as amended (the“ Securities Act ”) , or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 8.01 Other Events.
For the second quarter of fiscal 2022, ended
The Company experienced logistical constraints and significantly higher shipping costs, which had a significant negative impact on margins and profits during the second quarter.
Forward Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this current report contains forward-looking statements, such as statements relating to the estimated financial results of the company, future revenues and operating margins, the demand for the products of the company, the capacity of the company. company to fulfill orders and to clinical trials. Such forward-looking information involves significant risks and uncertainties that could significantly affect expected results in the future, including, without limitation: the results of studies testing the effectiveness of the Company’s tests, InFoods tests and other products; regulatory approvals required before the Company’s products are marketed; the availability of test kits and other Company products; the capacity, resources and other constraints on the Company’s suppliers; dependence on the Company’s third-party manufacturers; dependence on international shipping carriers; government import / export regulations; demand for the Company’s various tests and other products; competition from other similar products and from competitors who have much more financial and other resources; government virus control regulations that make it difficult or impossible for the Company to maintain ongoing operations; the Company’s ability to comply with current and future regulations in the countries where the Company’s products are manufactured and sold; and the Company’s ability to obtain patent protection on all aspects of its rapid test technologies. Accordingly, these results may differ materially from those expressed in forward-looking statements made by or on behalf of the Company. In addition, potential risks and uncertainties include, among others, fluctuations in the Company’s operating results due to its business model and expansion plans, slowdowns in international and / or national economies, the ability to the Company to raise additional capital, the competitive environment in which the Company competes and the Company’s dependence on strategic relationships. The Company has no obligation to update any forward-looking statements after the date of this press release.
Preliminary Financial Data
The preliminary financial information included in this current report is subject to the completion of the Company’s quarter-end closing procedures and further financial review. The Company has provided estimates because these results are preliminary and subject to change. Actual results may differ from these estimates due to the completion of the Company’s end of quarter closing procedures, review adjustments and other developments that may arise between now and the time of this financial information for the period. are finalized. Therefore, these estimates are preliminary, may change and constitute forward-looking information subject to risks and uncertainties. These preliminary estimates should not be considered a substitute for the complete consolidated financial statements prepared in accordance with
Item 9.01 Financial Statements and Exhibits. (d) Exhibits.
Number Description 99.1 Press Release of
Biomerica, Inc., issued December 16, 2021. 3
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