OTC:RDGL
VIVOS INC
A pre-revenue biotech firm with substantial cash reserves facing persistent net losses due to high R&D and administrative expenses.
Key Metrics
Investment Thesis
Bull Case
Investors might consider RDGL due to its robust liquidity position with $2.2M in cash and no long-term debt, suggesting sufficient runway to pursue late-stage development milestones without immediate need for further dilution.
Bear Case
The stock presents a high risk profile given the complete absence of revenue since 2022 and a deteriorating earnings history with losses widening from $-2.5M in 2022 to $-2.9M in both 2023 and 2024.
About VIVOS INC
VIVOS Inc. (RDGL) operates in the biotechnology sector, focusing on the development of innovative therapeutic solutions, though recent annual reports indicate minimal revenue generation and significant operational losses.
Analysis
Management Discussion
Recent financial performance is characterized by a net loss of $-2.9M driven by operating expenses of $2.6M and R&D spending of $324K, while cash flow from operations turned negative at $-1.7M despite receiving $2.3M in financing cash flows.
Industry Overview
The biotechnology industry is capital intensive, requiring significant upfront investment in research before achieving commercialization, which explains the current cash burn and lack of revenue typical for pre-market phase companies.
Financial Statements
Income Statement
Balance Sheet
Cash Flow
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | $36.5K | $19.5K | $5.0K |
| Cost of Revenue | $28.8K | $25.5K | $31.0K |
| Gross Profit | $7.7K | $-6.0K | $-3.0K |
| Operating Expenses | $2.5M | $2.8M | $2.6M |
| Operating Income | $-2.5M | $-2.8M | $-2.6M |
| R&D | $343.8K | $732.7K | $324.6K |
| G&A | $151.1K | $165.8K | $241.8K |
| Other OpEx | $2.0M | $1.9M | $2.0M |
| Non-Operating Income | $47.6K | $-101.6K | $-306.1K |
| Pre-Tax Income | $-2.5M | $-2.9M | $-2.9M |
| Income Tax | $0 | $0 | $0 |
| Continuing Ops | $-2.5M | $-2.9M | $-2.9M |
| Discontinued Ops | $0 | $0 | $0 |
| Net Income | $-2.5M | $-2.9M | $-2.9M |
| Minority Interest | $0 | $0 | $0 |
| Net to Common | $-2.5M | $-2.9M | $-2.9M |
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Current Assets | $1.7M | $1.6M | $2.2M |
| Cash & Equivalents | $1.7M | $1.6M | $2.2M |
| Accounts Receivable | $11.0K | $7.0K | $10.3K |
| Other Current Assets | $25.7K | $10.8K | $10.6K |
| Long-Term Assets | $0 | $0 | $0 |
| Total Assets | $1.7M | $1.6M | $2.2M |
| Current Liabilities | $81.7K | $245.0K | $86.2K |
| Long-Term Liabilities | $0 | $0 | $0 |
| Total Liabilities | $81.7K | $245.0K | $86.2K |
| Shareholders' Equity | $1.7M | $1.4M | $2.1M |
| Paid-In Capital | — | $1.2M | — |
| Retained Earnings | $-79.6M | $-82.5M | $-85.4M |
| Total L&E | $1.7M | $1.6M | $2.2M |
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Net Income (CFO) | $-2.5M | $-2.9M | $-2.9M |
| Non-Cash Adjustments | $1.3M | $1.4M | $1.4M |
| Working Capital Changes | $20.1K | $172.9K | $-155.7K |
| Cash from Operations | $-1.1M | $-1.3M | $-1.7M |
| Cash from Investing | $0 | $0 | $0 |
| Cash from Financing | $1.2M | $1.2M | $2.3M |
| FX Effect | $0 | $0 | $0 |
| Net Change in Cash | $99.9K | $-113.8K | $620.3K |
| Beginning Cash | $1.6M | $1.7M | $1.6M |
| Ending Cash | $1.7M | $1.6M | $2.2M |
Frequently Asked Questions
How does VIVOS INC make money?
The company's primary activity is centered on research and development (R&D) expenditures totaling approximately $325K, alongside general and administrative costs exceeding $241K, with no identified commercial revenue streams in the latest reporting period.
What are the main risks for RDGL?
Persistent negative net income of $-2.9M over the last three years, lack of commercial revenue generation since 2022, high operating expenses relative to negligible sales, and a retained earnings deficit of $-85.4M indicating cumulative historical losses.
What is RDGL's competitive advantage?
Access to substantial financing via share issuances of $2.3M, a strong balance sheet with $2.2M in cash equivalents, and significant other shareholders' equity of $87.5M providing a buffer against current losses.
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Not financial advice. All content is for informational purposes only. Data may contain errors. Consult a qualified financial advisor before making investment decisions.