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In a challenging market environment, Know Labs Inc. (KNW) stock has touched a new 52-week low, reaching a price level of just $0.13. With a market capitalization of $15.2 million and an InvestingPro Financial Health Score rated as "WEAK," the company faces significant headwinds. This significant downturn reflects a stark contrast from its performance over the past year, with the company's stock experiencing a precipitous decline of -71.98%. Investors have been closely monitoring Know Labs, a company known for its innovative technology in the field of spectroscopy-based diagnostic products, as it navigates through a period of volatility and market pressures that have weighed heavily on its stock value. The 52-week low serves as a critical indicator for shareholders and potential investors, marking the lowest price point the stock has seen within the last year and setting a new benchmark for the company's market valuation. With a current ratio of 0.6 and analyst price targets suggesting potential upside, investors seeking deeper insights can access 13 additional ProTips and comprehensive analysis through InvestingPro's detailed research reports.
In other recent news, Know Labs, Inc. has reported a series of significant developments. The company disclosed 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. The company has extended the maturity date of its debt from September 30, 2024, to September 30, 2025, and increased the interest rate on these notes from 6% to 8%.
The company's stockholders approved an amendment to increase the 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. Additionally, Know Labs has been granted an extension by NYSE American LLC to regain compliance with the exchange's listing standards by March 27, 2026.
Know Labs announced a registered direct offering priced at-the-market under NYSE American rules, with gross proceeds expected to be $300,000 before deductions. The company also extended the expiration dates of several warrant agreements with Clayton Struve. Lastly, Know Labs announced leadership changes, appointing John Cronin as Interim Chief Technology Officer and Dominic Klyve, Ph.D., as Chief Science Officer.
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