Exhibit 99.1
Helius Medical Technologies, Inc.
Unaudited Condensed Interim Consolidated Balance Sheet
The unaudited balance sheet has been filed in order to show compliance with the Nasdaq requirement that the Company maintain a minimum stockholders' equity of $2.5 million for continued listing. The unaudited balance sheet presents the Company’s balance sheet as June 17, 2025 and gives effect to the Company’s public offering that closed on June 6, 2025, as adjusted for the cashless exercise of all warrants issued in the offering.
The Company’s independent registered public accounting firm has not conducted an audit or review of, and does not express an opinion or any other form of assurance with respect to, the balance sheet set forth below. It is possible that the Company or its independent registered public accounting firm may identify items that require the Company to make adjustments to the balance sheet set forth below.
(in thousands, except share data)
| | June 17, 2025 | |
ASSETS | | |
|
Current assets | | |
|
Cash and cash equivalents | | $ | 6,414 |
Other receivables | |
| 84 |
Inventory, net | |
| 1,143 |
Prepaid expenses and other current assets | |
| 512 |
Total current assets | |
| 8,153 |
Property and equipment, net | |
| 93 |
Total assets | | $ | 8,246 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | |
| |
Current liabilities | |
|
|
Accounts payable | | $ | 858 |
Accrued and other current liabilities | |
| 712 |
Current portion of deferred revenue | |
| 42 |
Total current liabilities | |
| 1,612 |
Deferred revenue, net of current portion | |
| 66 |
Derivative liability | | | 7 |
Total liabilities | |
| 1,685 |
Stockholders' equity | |
|
|
Class A common stock, $0.001 par value; 800,000,000 shares authorized; 34,913,081 shares issued and outstanding as of June 17, 2025 | |
| 35 |
Additional paid-in capital | |
| 184,939 |
Accumulated deficit | |
| (178,043) |
Accumulated other comprehensive loss | |
| (370) |
Total stockholders' equity | |
| 6,561 |
Total liabilities and stockholders' equity | | $ | 8,246 |