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The fresh HDFC Financial overdraft (OD1) away from $4,486,181 try availed based on lien to your fixed dumps out of $5,404,three hundred provided with the business. The newest HDFC Bank overdraft (OD2) try safeguarded by all the current possessions, plant and devices of the Team in addition to shielded by individual guarantees provided by Dr Sudhir Prem Srivastava. As of December 29, 2024 and 2023, all of the financial and you will low-monetary covenants under the bank overdraft studio arrangement have been complied with by the Company. For the April 15, 2023, the organization done a Convertible Promissory Notice (the brand new “Credit line Mention”) which have Sushruta Pvt Ltd. (“Sushruta”), the new Bahamian holding team owned by Dr. Sudhir Srivastava, our very own Chairman, President, and you can dominating stockholder. Pursuant to your Personal line of credit Note, SPL, in its discretion can make numerous enhances for the Organization due to December 30, 2023 (the fresh “Readiness Go out”), in the an enthusiastic aggregate level of to $ 20,000,one hundred thousand to own working capital objectives. The brand new improves within the Credit line Note don’t bear desire and are owed and you will payable for the or before Readiness Go out.
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Set forth below try a brief description of your record and you can organization exposure to our very own administrators and administrator officers. I sustained a net loss of $19,151,197 for the year ended December 30, 2024, than the a web loss of $20,878,292 to the seasons concluded December 29, 2023. The fresh reduced amount of internet losses of 2023 so you can 2024 is primarily on account of rise in gross money away from $7,726,838, offset from the boost in stock compensation expenses as well as $cuatro,619,292 and you will decrease in attention debts (net) away from $ 175,235 out of $ 604,308 correspondingly. Inside the August 2024, the organization given 125,100000 offers to specific physicians/proctors to have getting their proctoring/training services.
Of a lot medical automatic possibilities incorporate advanced visualization technologies, for example higher-meaning three dimensional imaging and you will enhanced facts. Such technology give surgeons a better look at the newest surgical site, increasing their ability to visualize complex anatomical structures and you will create in depth work. The growth of the surgical robotics marketplace is anticipated to end up being determined by supply of increased healthcare infrastructure, rise in unmet medical care requires, escalation in incidence of chronic illness, and you will increase needed to possess state-of-the-art surgical robotics points. Asia, in which all of our operations try centered and you may in which i have theoretically launched the brand new SSi Mantra, features a people of approximately step 1.4 billion people and 70,one hundred thousand healthcare facilities. Yet not, only about 0.1% from worldwide automatic surgical procedures are performed inside Asia.
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Certain places, for example Southern area Korea, Brazil, Australian continent and you can Canada, provides their regulatory firms. These types of regions normally wanted regulating approvals and you will compliance with thorough defense and you may top quality system legislation included in the Medical Device Unmarried Audit System we will be required in order to conform to for the a keen lingering basis. At the same time, the new Food and drug administration can get put high limitations up on the brand new intended access to the issues because the a condition out of giving sales agreement.
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