v3.26.1
Segment Reporting
 6 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting

NOTE 15 - Segment Reporting (As Restated)

 

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the CODM in deciding how to allocate resources in assessing performance. The Company has one reportable segment, which is the business of development and commercialization of products related to comprehensive neuromodulation cEEG and sEEG recording, monitoring, ablation, and stimulation solutions (“Neuromodulation Products”). NeuroOne is a medical technology company focused on developing and commercializing Neuromodulation Products. The Company recognizes the Neuromodulation Products as one reporting segment.

 

The accounting policies of the Neuromodulation Products segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the Neuromodulation Products segment based on net loss income, which is reported on the statements of operations as net loss. The measure of segment assets is reported on the balance sheet as total assets. The Company does not have any intra-entity sales or transfers.

 

The CODM uses cash forecast models in deciding how to invest into the Neuromodulation Products segment. Such cash forecast models are reviewed to assess the entity-wide operating results and performance. Net loss is used to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing performance of the segment and in establishing management’s compensation.

The statements of operations below are inclusive of the significant expense categories regularly reviewed by the CODM for the three and six months ended March 31, 2026 and 2025:

 

   Three months ended
March 31,		   Six months ended
March 31,		 
   2026
(As Restated)		   2025   2026
(As Restated)		   2025 
Product revenue  $1,862,050   $1,386,550   $4,754,685   $4,660,717 
Cost of product revenue   871,786    615,489    2,196,593    1,962,767 
Product gross profit   990,264    771,061    2,558,092    2,697,950 
                     
License revenue   
-
    
-
    
-
    3,000,000 
                     
Operating expenses:                    
General and administrative   1,503,576    1,581,895    2,957,792    3,236,261 
Sales   199,136    157,436    373,293    362,352 
Marketing   216,659    201,083    473,741    385,255 
Development   1,310,388    1,337,781    2,554,705    2,339,967 
Quality assurance   157,702    172,882    303,065    342,924 
Total operating expenses   3,387,461    3,451,077    6,662,596    6,666,759 
Loss from operations   (2,397,197)   (2,680,016)   (4,104,504)   (968,809)
Fair value change in warrant liability   (8,271)   390,351    214,469    779,796 
Financing costs   
-
    
-
    
-
    (324,738)
Other income   23,446    19,058    70,123    28,466 
Loss before income taxes   (2,382,022)   (2,270,607)   (3,819,912)   (485,285)
Provision for income taxes   
-
    
-
    
-
    
-
 
Net loss  $(2,382,022)  $(2,270,607)  $(3,819,912)  $(485,285)