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In a turbulent market environment, Know Labs Inc. (KNW) stock has touched a new 52-week low, dipping to $0.12. According to InvestingPro data, the company's overall financial health score is rated as WEAK, with concerning metrics including a current ratio of 0.6. This latest price level reflects a significant downturn from the previous year, with the company's stock experiencing a precipitous 1-year change of -69.69%. Investors have been closely monitoring Know Labs, a company known for its innovative technology solutions, as it navigates through a challenging period marked by this notable decline in its stock value. InvestingPro analysis reveals the company is quickly burning through cash, with negative free cash flow of -$12.9M in the last twelve months. The 52-week low serves as a critical indicator for shareholders and potential investors, as they assess the company's performance and future prospects in an ever-evolving market landscape. With an EBITDA of -$15.14M and multiple risk factors identified by InvestingPro, subscribers can access 12 additional ProTips and comprehensive analysis through the Pro Research Report.
In other recent news, Know Labs, Inc. has seen significant developments. The company reported a Q3 net loss of $4.1 million for fiscal year 2024, marking an improvement from the previous year. In a recent financing round, Know Labs successfully raised $1.655 million. Additionally, the company extended the maturity date of its debt from September 2024 to September 2025, and increased the interest rate on these notes from 6% to 8%.
Know Labs has also announced leadership changes, appointing John Cronin as Interim Chief Technology Officer and Dominic Klyve, Ph.D., as Chief Science Officer. Furthermore, the company's stockholders approved an increase in authorized shares of common stock from 200 million to 300 million and amended the 2021 Equity Incentive Plan, expanding the number of shares available for issuance to 40 million.
In other developments, Know Labs has been granted an extension by NYSE American LLC to regain compliance with the exchange's listing standards by March 2026. The company also announced a registered direct offering priced at-the-market under NYSE American rules, with gross proceeds expected to be $300,000 before deductions. Lastly, the company extended the expiration dates of several warrant agreements with Clayton Struve, suggesting a long-term commitment from both parties.
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