Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Know Labs, Inc. Reports First Quarter 2023 Results By: Know Labs, Inc. via Business Wire February 14, 2023 at 16:00 PM EST Know Labs, Inc. (NYSE American: KNW), an emerging developer of non-invasive medical diagnostic technology, today reported financial results for the first quarter ended December 31, 2022. Financial Highlights: Know Labs reported a net loss of $3.82 million in the first quarter of 2023, compared to a net loss of $5.36 million in the first quarter of 2022, which translates to Earnings Per Share of a loss of $0.08 versus a loss of $0.15 in the year ago period. Research and development expense for the first quarter ended December 31, 2022, was $1.74 million as compared to $886,000 in the same year ago period. The increase in R&D expense was related to staff increases in engineering, third party technical services and expenditures related to the development of the Bio-RFID technology, as the company continues to execute its path to FDA clinical trials and commercialization. Selling, general and administrative expense for the first quarter 2023 was $1.91 million versus $1.22 million in the same year ago period, which increased versus the prior year primarily to due to key additions to the executive team and increases in third party services. As of December 31, 2022, cash and cash equivalents equaled $9.68 million, as compared with $12.59 million at the end of the fourth quarter ended September 30, 2022. Net cash used in operations for the first quarter ended December 31, 2022, was $2.92 million, as compared to $1.91 million in the prior year. The company believes its cash on hand will be sufficient to fund its operations through February 14, 2024. Shareholder equity for the first quarter 2023 was $7.1 million versus $9.9 million as of September 30, 2022. Income Statement: Three Months Ended, December 31, 2022 December 31, 2021 REVENUE- DIGITAL ASSET SALES $ - $ 4,351,400 OPERATING EXPENSES- RESEARCH AND DEVELOPMENT EXPENSES 1,743,051 885,752 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 1,905,071 1,216,947 SELLING AND TRANSACTIONAL COSTS FOR DIGITAL ASSETS - 3,118,360 Total operating expenses 3,648,122 5,221,059 OPERATING LOSS (3,648,122 ) (869,659 ) OTHER INCOME (EXPENSE): Interest expense (227,170 ) (4,486,960 ) Other income 52,433 - Total other (expense), net (174,737 ) (4,486,960 ) LOSS BEFORE INCOME TAXES (3,822,859 ) (5,356,619 ) Income tax expense - - NET LOSS $ (3,822,859 ) $ (5,356,619 ) Basic and diluted loss per share $ (0.08 ) $ (0.15 ) Weighted average shares of common stock outstanding- basic and diluted 48,187,339 35,479,073 Balance Sheet: December 31, 2022 September 30, 2022 (1) ASSETS Unaudited CURRENT ASSETS: Cash and cash equivalents $ 9,680,272 $ 12,593,692 Total current assets 9,680,272 12,593,692 PROPERTY AND EQUIPMENT, NET 770,663 862,977 OTHER ASSETS Other assets 15,765 13,767 Operating lease right of use asset 243,526 287,930 TOTAL ASSETS $ 10,710,226 $ 13,758,366 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable - trade $ 404,619 $ 526,968 Accrued expenses 464,830 462,940 Accrued expenses - related parties 322,697 348,264 Convertible notes payable, net 2,255,066 2,255,066 Current portion of operating lease right of use liability 210,790 215,397 Total current liabilities 3,658,002 3,808,635 NON-CURRENT LIABILITIES: Operating lease right of use liability, net of current portion 45,993 87,118 Total non-current liabilities 45,993 87,118 COMMITMENTS AND CONTINGENCIES (Note 11) - - STOCKHOLDERS' EQUITY Preferred stock - $0.001 par value, 5,000,000 shares authorized, Series C and D shares issued and outstanding as follows: Series C Convertible Preferred stock $0.001 par value, 1,785,715 shares authorized, 1,785,715 shares issued and outstanding at 12/31/2022 and 9/30/2022, respectively 1,790 1,790 Series D Convertible Preferred stock $0.001 par value, 1,016,014 shares authorized, 1,016,004 shares issued and outstanding at 12/31/2022 and 9/30/2022, respectively 1,015 1,015 Common stock - $0.001 par value, 200,000,000 shares authorized, 48,207,937 and 48,156,062 shares issued and outstanding at 12/31/2022 and 9/30/2022, respectively 48,209 48,158 Additional paid in capital 112,175,814 111,209,388 Accumulated deficit (105,220,597 ) (101,397,738 ) Total stockholders' equity 7,006,231 9,862,613 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 10,710,226 $ 13,758,366 (1) Derived from audited consolidated balance sheet. Cash Flow: Three Months Ended, December 31, 2022 December 31, 2021 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (3,822,859 ) $ (5,356,619 ) Adjustments to reconcile net loss to net cash (used in) operating activities Depreciation and amortization 103,160 41,672 Stock based compensation- stock option grants 744,640 204,170 Right of use, net (1,328 ) (1,781 ) Interest expense for extension of notes and warrants 206,994 - Amortization of debt discount to interest expense - 4,184,657 Changes in operating assets and liabilities: Other long-term assets (1,998 ) - Accounts receivable-related party - (3,124,581 ) Accounts payable - trade and accrued expenses (146,026 ) 2,144,665 NET CASH (USED IN) OPERATING ACTIVITIES (2,917,417 ) (1,907,817 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of research and development equipment (10,846 ) (385,488 ) NET CASH (USED IN) INVESTING ACTIVITIES: (10,846 ) (385,488 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock for stock options exercise 2,343 2,344 Proceeds from issuance of common stock for warrant exercise 12,500 766,486 NET CASH PROVIDED BY FINANCING ACTIVITIES 14,843 768,830 NET (DECREASE) IN CASH AND CASH EQUIVALENTS (2,913,420 ) (1,524,475 ) CASH AND CASH EQUIVALENTS, beginning of period 12,593,692 12,258,218 CASH AND CASH EQUIVALENTS, end of period $ 9,680,272 $ 10,733,743 Conference Call: Know Labs will host an audio webcast to discuss its results and provide a business update today, February 14, 2023, at 4:30pm ET (1:30 pm PT). The live webcast will be available on the Investors page of the Company’s website, www.knowlabs.co/investors, and a replay will be available for six months. Participant Dial-In: 877-514-3621 / +1 215-268-9856 Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=JBJkxLtD A copy of the form 10-Q filed with the SEC can also be downloaded from the Company’s website. About Know Labs, Inc. Know Labs, Inc. is a public company whose shares trade on the NYSE American Exchange under the stock symbol “KNW.” The Company’s technology uses spectroscopy to direct electromagnetic energy through a substance or material to capture a unique molecular signature. The Company refers to its technology as Bio-RFID™. The Bio-RFID technology can be integrated into a variety of wearable, mobile or bench-top form factors. This patented and patent-pending technology makes it possible to effectively identify and monitor analytes that could only previously be performed by invasive and/or expensive and time-consuming lab-based tests. The first application of our Bio-RFID technology will be in a product marketed as a non-invasive glucose monitor. It will provide the user with real-time information on blood glucose levels. This product will require U.S. Food and Drug Administration clearance prior to its introduction to the market. Safe Harbor Statement This release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Know Labs, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy; and (iv) performance of products. You can identify these statements by the use of the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Know Labs, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. These risks and uncertainties also include such additional risk factors as are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2022, Forms 10-Q and 8-K, and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the SEC Filings section of the Investor Relations section of our website at www.knowlabs.co. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made. View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005302/en/Contacts For Know Labs Media Inquiries Contact: Linhart PR Mallory West mwest@linhartpr.com Ph. (317) 439-3173 Know Labs, Inc. Contact: Jordyn Hujar jordyn@knowlabs.co Ph. (206) 629-6414 Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Know Labs, Inc. Reports First Quarter 2023 Results By: Know Labs, Inc. via Business Wire February 14, 2023 at 16:00 PM EST Know Labs, Inc. (NYSE American: KNW), an emerging developer of non-invasive medical diagnostic technology, today reported financial results for the first quarter ended December 31, 2022. Financial Highlights: Know Labs reported a net loss of $3.82 million in the first quarter of 2023, compared to a net loss of $5.36 million in the first quarter of 2022, which translates to Earnings Per Share of a loss of $0.08 versus a loss of $0.15 in the year ago period. Research and development expense for the first quarter ended December 31, 2022, was $1.74 million as compared to $886,000 in the same year ago period. The increase in R&D expense was related to staff increases in engineering, third party technical services and expenditures related to the development of the Bio-RFID technology, as the company continues to execute its path to FDA clinical trials and commercialization. Selling, general and administrative expense for the first quarter 2023 was $1.91 million versus $1.22 million in the same year ago period, which increased versus the prior year primarily to due to key additions to the executive team and increases in third party services. As of December 31, 2022, cash and cash equivalents equaled $9.68 million, as compared with $12.59 million at the end of the fourth quarter ended September 30, 2022. Net cash used in operations for the first quarter ended December 31, 2022, was $2.92 million, as compared to $1.91 million in the prior year. The company believes its cash on hand will be sufficient to fund its operations through February 14, 2024. Shareholder equity for the first quarter 2023 was $7.1 million versus $9.9 million as of September 30, 2022. Income Statement: Three Months Ended, December 31, 2022 December 31, 2021 REVENUE- DIGITAL ASSET SALES $ - $ 4,351,400 OPERATING EXPENSES- RESEARCH AND DEVELOPMENT EXPENSES 1,743,051 885,752 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 1,905,071 1,216,947 SELLING AND TRANSACTIONAL COSTS FOR DIGITAL ASSETS - 3,118,360 Total operating expenses 3,648,122 5,221,059 OPERATING LOSS (3,648,122 ) (869,659 ) OTHER INCOME (EXPENSE): Interest expense (227,170 ) (4,486,960 ) Other income 52,433 - Total other (expense), net (174,737 ) (4,486,960 ) LOSS BEFORE INCOME TAXES (3,822,859 ) (5,356,619 ) Income tax expense - - NET LOSS $ (3,822,859 ) $ (5,356,619 ) Basic and diluted loss per share $ (0.08 ) $ (0.15 ) Weighted average shares of common stock outstanding- basic and diluted 48,187,339 35,479,073 Balance Sheet: December 31, 2022 September 30, 2022 (1) ASSETS Unaudited CURRENT ASSETS: Cash and cash equivalents $ 9,680,272 $ 12,593,692 Total current assets 9,680,272 12,593,692 PROPERTY AND EQUIPMENT, NET 770,663 862,977 OTHER ASSETS Other assets 15,765 13,767 Operating lease right of use asset 243,526 287,930 TOTAL ASSETS $ 10,710,226 $ 13,758,366 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable - trade $ 404,619 $ 526,968 Accrued expenses 464,830 462,940 Accrued expenses - related parties 322,697 348,264 Convertible notes payable, net 2,255,066 2,255,066 Current portion of operating lease right of use liability 210,790 215,397 Total current liabilities 3,658,002 3,808,635 NON-CURRENT LIABILITIES: Operating lease right of use liability, net of current portion 45,993 87,118 Total non-current liabilities 45,993 87,118 COMMITMENTS AND CONTINGENCIES (Note 11) - - STOCKHOLDERS' EQUITY Preferred stock - $0.001 par value, 5,000,000 shares authorized, Series C and D shares issued and outstanding as follows: Series C Convertible Preferred stock $0.001 par value, 1,785,715 shares authorized, 1,785,715 shares issued and outstanding at 12/31/2022 and 9/30/2022, respectively 1,790 1,790 Series D Convertible Preferred stock $0.001 par value, 1,016,014 shares authorized, 1,016,004 shares issued and outstanding at 12/31/2022 and 9/30/2022, respectively 1,015 1,015 Common stock - $0.001 par value, 200,000,000 shares authorized, 48,207,937 and 48,156,062 shares issued and outstanding at 12/31/2022 and 9/30/2022, respectively 48,209 48,158 Additional paid in capital 112,175,814 111,209,388 Accumulated deficit (105,220,597 ) (101,397,738 ) Total stockholders' equity 7,006,231 9,862,613 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 10,710,226 $ 13,758,366 (1) Derived from audited consolidated balance sheet. Cash Flow: Three Months Ended, December 31, 2022 December 31, 2021 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (3,822,859 ) $ (5,356,619 ) Adjustments to reconcile net loss to net cash (used in) operating activities Depreciation and amortization 103,160 41,672 Stock based compensation- stock option grants 744,640 204,170 Right of use, net (1,328 ) (1,781 ) Interest expense for extension of notes and warrants 206,994 - Amortization of debt discount to interest expense - 4,184,657 Changes in operating assets and liabilities: Other long-term assets (1,998 ) - Accounts receivable-related party - (3,124,581 ) Accounts payable - trade and accrued expenses (146,026 ) 2,144,665 NET CASH (USED IN) OPERATING ACTIVITIES (2,917,417 ) (1,907,817 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of research and development equipment (10,846 ) (385,488 ) NET CASH (USED IN) INVESTING ACTIVITIES: (10,846 ) (385,488 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock for stock options exercise 2,343 2,344 Proceeds from issuance of common stock for warrant exercise 12,500 766,486 NET CASH PROVIDED BY FINANCING ACTIVITIES 14,843 768,830 NET (DECREASE) IN CASH AND CASH EQUIVALENTS (2,913,420 ) (1,524,475 ) CASH AND CASH EQUIVALENTS, beginning of period 12,593,692 12,258,218 CASH AND CASH EQUIVALENTS, end of period $ 9,680,272 $ 10,733,743 Conference Call: Know Labs will host an audio webcast to discuss its results and provide a business update today, February 14, 2023, at 4:30pm ET (1:30 pm PT). The live webcast will be available on the Investors page of the Company’s website, www.knowlabs.co/investors, and a replay will be available for six months. Participant Dial-In: 877-514-3621 / +1 215-268-9856 Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=JBJkxLtD A copy of the form 10-Q filed with the SEC can also be downloaded from the Company’s website. About Know Labs, Inc. Know Labs, Inc. is a public company whose shares trade on the NYSE American Exchange under the stock symbol “KNW.” The Company’s technology uses spectroscopy to direct electromagnetic energy through a substance or material to capture a unique molecular signature. The Company refers to its technology as Bio-RFID™. The Bio-RFID technology can be integrated into a variety of wearable, mobile or bench-top form factors. This patented and patent-pending technology makes it possible to effectively identify and monitor analytes that could only previously be performed by invasive and/or expensive and time-consuming lab-based tests. The first application of our Bio-RFID technology will be in a product marketed as a non-invasive glucose monitor. It will provide the user with real-time information on blood glucose levels. This product will require U.S. Food and Drug Administration clearance prior to its introduction to the market. Safe Harbor Statement This release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Know Labs, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy; and (iv) performance of products. You can identify these statements by the use of the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Know Labs, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. These risks and uncertainties also include such additional risk factors as are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2022, Forms 10-Q and 8-K, and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the SEC Filings section of the Investor Relations section of our website at www.knowlabs.co. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made. View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005302/en/Contacts For Know Labs Media Inquiries Contact: Linhart PR Mallory West mwest@linhartpr.com Ph. (317) 439-3173 Know Labs, Inc. Contact: Jordyn Hujar jordyn@knowlabs.co Ph. (206) 629-6414
Know Labs, Inc. (NYSE American: KNW), an emerging developer of non-invasive medical diagnostic technology, today reported financial results for the first quarter ended December 31, 2022. Financial Highlights: Know Labs reported a net loss of $3.82 million in the first quarter of 2023, compared to a net loss of $5.36 million in the first quarter of 2022, which translates to Earnings Per Share of a loss of $0.08 versus a loss of $0.15 in the year ago period. Research and development expense for the first quarter ended December 31, 2022, was $1.74 million as compared to $886,000 in the same year ago period. The increase in R&D expense was related to staff increases in engineering, third party technical services and expenditures related to the development of the Bio-RFID technology, as the company continues to execute its path to FDA clinical trials and commercialization. Selling, general and administrative expense for the first quarter 2023 was $1.91 million versus $1.22 million in the same year ago period, which increased versus the prior year primarily to due to key additions to the executive team and increases in third party services. As of December 31, 2022, cash and cash equivalents equaled $9.68 million, as compared with $12.59 million at the end of the fourth quarter ended September 30, 2022. Net cash used in operations for the first quarter ended December 31, 2022, was $2.92 million, as compared to $1.91 million in the prior year. The company believes its cash on hand will be sufficient to fund its operations through February 14, 2024. Shareholder equity for the first quarter 2023 was $7.1 million versus $9.9 million as of September 30, 2022. Income Statement: Three Months Ended, December 31, 2022 December 31, 2021 REVENUE- DIGITAL ASSET SALES $ - $ 4,351,400 OPERATING EXPENSES- RESEARCH AND DEVELOPMENT EXPENSES 1,743,051 885,752 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 1,905,071 1,216,947 SELLING AND TRANSACTIONAL COSTS FOR DIGITAL ASSETS - 3,118,360 Total operating expenses 3,648,122 5,221,059 OPERATING LOSS (3,648,122 ) (869,659 ) OTHER INCOME (EXPENSE): Interest expense (227,170 ) (4,486,960 ) Other income 52,433 - Total other (expense), net (174,737 ) (4,486,960 ) LOSS BEFORE INCOME TAXES (3,822,859 ) (5,356,619 ) Income tax expense - - NET LOSS $ (3,822,859 ) $ (5,356,619 ) Basic and diluted loss per share $ (0.08 ) $ (0.15 ) Weighted average shares of common stock outstanding- basic and diluted 48,187,339 35,479,073 Balance Sheet: December 31, 2022 September 30, 2022 (1) ASSETS Unaudited CURRENT ASSETS: Cash and cash equivalents $ 9,680,272 $ 12,593,692 Total current assets 9,680,272 12,593,692 PROPERTY AND EQUIPMENT, NET 770,663 862,977 OTHER ASSETS Other assets 15,765 13,767 Operating lease right of use asset 243,526 287,930 TOTAL ASSETS $ 10,710,226 $ 13,758,366 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable - trade $ 404,619 $ 526,968 Accrued expenses 464,830 462,940 Accrued expenses - related parties 322,697 348,264 Convertible notes payable, net 2,255,066 2,255,066 Current portion of operating lease right of use liability 210,790 215,397 Total current liabilities 3,658,002 3,808,635 NON-CURRENT LIABILITIES: Operating lease right of use liability, net of current portion 45,993 87,118 Total non-current liabilities 45,993 87,118 COMMITMENTS AND CONTINGENCIES (Note 11) - - STOCKHOLDERS' EQUITY Preferred stock - $0.001 par value, 5,000,000 shares authorized, Series C and D shares issued and outstanding as follows: Series C Convertible Preferred stock $0.001 par value, 1,785,715 shares authorized, 1,785,715 shares issued and outstanding at 12/31/2022 and 9/30/2022, respectively 1,790 1,790 Series D Convertible Preferred stock $0.001 par value, 1,016,014 shares authorized, 1,016,004 shares issued and outstanding at 12/31/2022 and 9/30/2022, respectively 1,015 1,015 Common stock - $0.001 par value, 200,000,000 shares authorized, 48,207,937 and 48,156,062 shares issued and outstanding at 12/31/2022 and 9/30/2022, respectively 48,209 48,158 Additional paid in capital 112,175,814 111,209,388 Accumulated deficit (105,220,597 ) (101,397,738 ) Total stockholders' equity 7,006,231 9,862,613 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 10,710,226 $ 13,758,366 (1) Derived from audited consolidated balance sheet. Cash Flow: Three Months Ended, December 31, 2022 December 31, 2021 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (3,822,859 ) $ (5,356,619 ) Adjustments to reconcile net loss to net cash (used in) operating activities Depreciation and amortization 103,160 41,672 Stock based compensation- stock option grants 744,640 204,170 Right of use, net (1,328 ) (1,781 ) Interest expense for extension of notes and warrants 206,994 - Amortization of debt discount to interest expense - 4,184,657 Changes in operating assets and liabilities: Other long-term assets (1,998 ) - Accounts receivable-related party - (3,124,581 ) Accounts payable - trade and accrued expenses (146,026 ) 2,144,665 NET CASH (USED IN) OPERATING ACTIVITIES (2,917,417 ) (1,907,817 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of research and development equipment (10,846 ) (385,488 ) NET CASH (USED IN) INVESTING ACTIVITIES: (10,846 ) (385,488 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock for stock options exercise 2,343 2,344 Proceeds from issuance of common stock for warrant exercise 12,500 766,486 NET CASH PROVIDED BY FINANCING ACTIVITIES 14,843 768,830 NET (DECREASE) IN CASH AND CASH EQUIVALENTS (2,913,420 ) (1,524,475 ) CASH AND CASH EQUIVALENTS, beginning of period 12,593,692 12,258,218 CASH AND CASH EQUIVALENTS, end of period $ 9,680,272 $ 10,733,743 Conference Call: Know Labs will host an audio webcast to discuss its results and provide a business update today, February 14, 2023, at 4:30pm ET (1:30 pm PT). The live webcast will be available on the Investors page of the Company’s website, www.knowlabs.co/investors, and a replay will be available for six months. Participant Dial-In: 877-514-3621 / +1 215-268-9856 Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=JBJkxLtD A copy of the form 10-Q filed with the SEC can also be downloaded from the Company’s website. About Know Labs, Inc. Know Labs, Inc. is a public company whose shares trade on the NYSE American Exchange under the stock symbol “KNW.” The Company’s technology uses spectroscopy to direct electromagnetic energy through a substance or material to capture a unique molecular signature. The Company refers to its technology as Bio-RFID™. The Bio-RFID technology can be integrated into a variety of wearable, mobile or bench-top form factors. This patented and patent-pending technology makes it possible to effectively identify and monitor analytes that could only previously be performed by invasive and/or expensive and time-consuming lab-based tests. The first application of our Bio-RFID technology will be in a product marketed as a non-invasive glucose monitor. It will provide the user with real-time information on blood glucose levels. This product will require U.S. Food and Drug Administration clearance prior to its introduction to the market. Safe Harbor Statement This release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Know Labs, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy; and (iv) performance of products. You can identify these statements by the use of the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Know Labs, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. These risks and uncertainties also include such additional risk factors as are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2022, Forms 10-Q and 8-K, and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the SEC Filings section of the Investor Relations section of our website at www.knowlabs.co. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made. View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005302/en/
For Know Labs Media Inquiries Contact: Linhart PR Mallory West mwest@linhartpr.com Ph. (317) 439-3173 Know Labs, Inc. Contact: Jordyn Hujar jordyn@knowlabs.co Ph. (206) 629-6414