Movano Inc SEC Filings

Movano Inc. (MOVE) filed its Quarterly Report on Form 10-Q for the period ended June 30, 2025. The filing discloses that the company generated limited revenues from sales of the Evie Ring, all in the United States, and recorded operating expenses including cost of revenue, research and development, and sales, general and administrative costs. The company reported equity issuances during the six months ended June 30, 2025, raising net proceeds of $1.6 million from an Issuance Agreement and raising $9.3 million from an at-the-market (ATM) program that was later terminated in May 2025 upon expiration of its Form S-3 registration statement. The company also entered a $1.5 million bridge loan bearing 12.0% interest that matures November 4, 2025, and granted the lender a security interest in substantially all assets, including intellectual property.

The filing states the company’s cash and cash equivalents as of June 30, 2025 will not be sufficient to fund projected operations beyond 2025 and that these circumstances raise substantial doubt about the company’s ability to continue as a going concern within one year after issuance of the financial statements. The Nasdaq Hearings Panel granted conditional continued listing, requiring timely filing of delinquent quarterly reports and demonstration of a $1.00 bid price by specified dates.

Movano Inc. filed a Form 10-Q reporting condensed quarterly information and accompanying disclosures. The company had 8,349,080 shares outstanding noted near the front and later discloses 7,036,475 shares outstanding at March 31, 2025 (6,840,291 at December 31, 2024). Movano reported operating line items including cost of revenue (e.g., $642k and $1.2M figures shown), R&D and SG&A amounts, and cash movements with a net decrease in cash and cash equivalents of $(3.545)M and $(3.973)M in referenced periods. The company disclosed an ATM program with $8.3M issued and approximately $41.7M available to sell under the Issuance Agreement. Management states substantial doubt about going concern within one year due to expected additional losses and insufficient cash to fund operations beyond 2025. Movano also disclosed a $1.5M bridge loan bearing 12% interest maturing November 4, 2025, and various equity compensation programs including outstanding options, RSU grants and shares available under incentive plans. The company noted Nasdaq compliance matters and multiple risk factors related to commercialization, regulatory approvals, IP, and capital needs.

Movano Inc. is soliciting votes for its 2025 Annual Meeting to be held virtually on September 26, 2025 at 1:00 p.m. Pacific Time. The record date is August 26, 2025, and there were 8,301,204 shares outstanding on that date. Shareholders will vote on four proposals: election of two Class I directors (Emily Wang Fairbairn and Michael Leabman), approval of a board-authorized reverse stock split at a ratio between 1-for-2 and 1-for-15, approval to increase authorized common shares from 500,000,000 to 2,000,000,000, and ratification of RBSM LLP as the independent registered public accounting firm for 2025. The proxy materials and the 2024 Annual Report/Form 10-K are available at www.proxyvote.com.

The filing discloses Nasdaq compliance issues: on July 7, 2025 Nasdaq notified the company of noncompliance with the $1.00 minimum bid requirement and a late 10-Q filing, and the company previously implemented a 1-for-15 reverse split in October 2024. The board seeks flexibility to choose a reverse split ratio (if approved) within one year to attempt to regain and maintain Nasdaq listing.

Movano Inc. is soliciting proxies for its September 26, 2025 annual meeting to vote on four proposals: election of two Class I directors (Emily Wang Fairbairn and Michael Leabman), approval of an amendment to effect a board-determined reverse stock split at a ratio between 1-for-2 and 1-for-15, approval to increase authorized common shares from 500,000,000 to 2,000,000,000, and ratification of the Audit Committee’s selection of RBSM LLP as independent auditors for fiscal 2025. The Board recommends voting FOR all proposals. The company disclosed it received a Nasdaq notice for failure to maintain a minimum $1.00 bid price and for a late Form 10-Q filing and has appealed the delisting determination; the reverse split proposal is presented as a remedy. The proxy materials include director biographies, committee charters, compensation practices and employment arrangements. The filing contains placeholders where the exact number of shares outstanding and certain record-date ownership figures should appear.

Movano Inc. filed an NT 10-Q notice for the period ended June 30, 2025 from its Pleasanton, CA address. The form indicates the company does not anticipate any significant change in results of operations compared with the corresponding period of the prior fiscal year. The notice is signed by the Chief Financial Officer, J. Cogan, dated August 15, 2025. The filing provides no earnings figures or additional financial detail.