Bionik Laboratories Corporation (EM) (BNKL)

Is there any hope here?

I agree. I'm not sure why I didn't respond sooner but I think there are a lot of advancements being made for them - Rich Russo is now CEO, they acquired their first rehabilitation facility and are renovating to not only include their InMotion technology but they also have VR incorporated with their sessions now. I get more news from googling BNKL news and wish it was displayed on TD, Yahoo or even here. They really just need more eyes on the stock, but I like to think of it like this, that reverse stock split a bit ago will come back rewardingly. I see it panning out like this, word gets out in 2 years from their expansion, it's a new industry and boom. They get a high stock price from being still on the OCTQX, either hit that split or just uplist NASDAQ. And either one will be a frenzy - by that point they'd be very well recognized, the machines evolving, getting (showable) data, and a cheap solution for anyone who needs physical therapy or stroke rehab. So I'm hoping they're in talks with insurance companies who will cover this. I know RWLK just made a case in Germany to start getting covered by insurance providers over there. Woo

Correction over the past near 6 years I'm holding 5,100 shares. Turns out they have Virtual Reality https://billingsgazette.com/lifestyles/health-med-fit/rehabilitation-hospital-of-montana-incorporates-vr-and-ai-technology-into-patient-care/article_62867ac2-d700-11ec-ade8-d7fc92301baf.html
Also Rich Russo is now CEO finally he's been killing it as interim CEO.
They also just acquired their first "Center of Excellence" really looking forward to what's to come.

Over the past 6 years I have bought 4,759 shares at average price of $1.37

$BNKL BIONIK Laboratories Reports Fourth Quarter and Fiscal Year 2022 Financial ResultsPress Release | 06/09/2022

BIONIK Laboratories Corp. (OTCPink: BNKL), a robotics company focused on providing rehabilitation and assistive technology solutions to individuals with neurological and mobility challenges from hospital to home, today reported financial results for the fourth quarter and fiscal year 2022, ended March 31, 2022.

Fourth Quarter FY 2022 and Recent Highlights

BIONIK’s sales pipeline remains among the highest levels in corporate history.
New patient outcomes data reflecting a 15-20% increase in therapeutic gains on InMotion Robotic devices over a 14-day timeframe was reported. The Company continues to work with Bitstrapped on advancing machine learning and predictability outcomes further into Bionik’s technology.
Revenue was $1.3 million for the fiscal year ended March 31, 2022, an increase of 7%, reflecting the shipment of nine units and higher subscription sales for the InMotion Connect Pulse solutions that were first introduced in June 2020.
Revenue was $0.2 million for the fourth quarter of fiscal 2022 compared to $0.5 million for the fourth quarter of fiscal 2021, a decrease of 59%, primarily due to lower units sold in the current period as a result of lengthened delivery schedules from the lingering impact of supply chain issues and the Covid pandemic.
On a GAAP basis, total operating expenses increased 18% to $1.5 million, primarily due to increased investments in sales and marketing partially offset by a decrease in general and administrative expenses.
On a Non-GAAP basis, the net loss was $1.6 million, or $(0.28) per diluted share, for the fourth quarter of fiscal 2022, compared to a net loss of $0.9 million, or $(0.17) per diluted share, for the fourth quarter of fiscal 2021.
Cash and equivalents totaled $2.0 million and there was no short or long-term debt on BIONIK’s balance sheet at March 31, 2022.

Rich Russo, Chief Financial Officer and Interim Chief Executive Officer, commented, “Revenues increased 7% to $1.3 million for the fiscal year, despite the impact of the Covid-19 pandemic on our business. During the year we shipped nine units and grew our sales pipeline to its highest levels. We also made significant investments in our marketing and branding initiatives as well as continued to advance our data strategy with advancements in our machine learning and predictability modeling. In the fourth quarter we continued to focus on growing our sales pipeline and containing costs, as we work to convert our pipeline to revenue.”

Fourth Quarter FY 2022 Financial Results

Total revenues for the fourth quarter were $0.2 million compared with $0.5 million in the fourth quarter of fiscal 2021. One unit was sold in the current fourth quarter 2022 period compared to three units sold in the year ago period.

Gross profit was $0.1 million, a decrease of 60% from $0.3 million in the fourth quarter of last year. The gross margin was 69% compared to 72% in the prior year period.

Total operating expenses were $1.5 million, an increase of 18%, compared to $1.3 million in the fourth quarter of fiscal 2021. Sales and marketing expenses increased by 159% to $0.6 million for the 2022 period, due to larger investments in commercial and marketing initiatives to grow the Company’s sales pipeline. General and administrative expenses decreased by 27% to $0.6 million for the fiscal 2022 fourth quarter compared to $0.8 million for the fiscal 2021 fourth quarter. The decrease was due to lower personnel related expenses and professional fees.

The net loss was $1.7 million, or ($0.29) per diluted share, compared to a net loss of $1.0 million, or ($0.20) per diluted share, in the same period for fiscal 2021. Weighted average basic and diluted shares outstanding were 5,853,048 and 5,133,269 for the fourth quarter of fiscal year 2022 and 2021, respectively.

On a non-GAAP basis, excluding share-based compensation expense, the costs associated with the impairment and amortization of intangibles, and foreign exchange measurement losses, the fourth quarter net loss was $1.6 million, or ($0.28) per diluted share, compared with a net loss of $0.9 million, or ($0.17) per diluted share, in the same period for fiscal 2021.

Twelve Months FY 2022 Financial Results

Total revenues for the year ended March 31, 2022 increased by 7%, to $1.3 million, compared to revenues of $1.2 million for the year ended March 31, 2021. Nine units were shipped in the twelve months ended March 31, 2022, compared to seven units in fiscal year 2021. Subscription sales for the InMotion Connect Pulse solutions more than doubled after first being introduced in June 2020.

Gross profit for fiscal 2022 increased 3% to $1.0 million. The increase was primarily due to selling more units in FY 2022 compared to FY 2021. The gross margin was 75% compared to 77% in the same period last fiscal year. Total operating expenses, excluding charges for the impairment of goodwill and intangible assets, decreased by $1.3 million, or 19%, to $5.7 million.

The net loss was $10.4 million, or ($1.78) per diluted share, compared to a net loss of $13.6 million, or ($2.66) per diluted share, for fiscal 2021. The net loss includes charges for the impairment of goodwill and intangible assets of $5.2 million for fiscal year 2022 and $7.2 million for fiscal year 2021. On a non-GAAP basis, excluding share-based compensation expense, costs associated with the impairment and amortization of intangibles, extinguishment of debt and foreign exchange measurement losses, the fiscal year 2022 net loss was $5.2 million, or ($0.89) per diluted share, compared with a net loss of $5.4 million, or ($1.06) per diluted share, for fiscal year 2021.

About BIONIK Laboratories Corp.

BIONIK Laboratories is a robotics company focused on providing rehabilitation and mobility solutions to individuals with neurological and mobility challenges from hospital to home. The Company has a portfolio of products focused on upper and lower extremity rehabilitation for stroke and other mobility-impaired patients, including three products on the market and three products in varying stages of development.

For more information, please visit www.BIONIKlabs.com and connect with us on Twitter, LinkedIn, and Facebook.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "should," "would," "will," "could," "scheduled," "expect," "anticipate," "estimate," “possible,” "believe," "intend," "seek," or "project" or the negative of these words or other variations on these words or comparable terminology.

Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of robotic rehabilitation products and other Company products, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, pipeline of potential sales, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the market and projected market for our existing and planned products and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above.

Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances, and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions, and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward- looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the inability to meet listing standards to uplist to a national stock exchange, the significant length of time and resources associated with the development and sales of our products and related insufficient cash flows and resulting illiquidity, the impact on the Company’s business as a result of the Covid-19 pandemic, the Company’s continued going concern qualification, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, volatility in the price of the Company's raw materials, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company does not undertake to update these forward-looking statements.


BIONIK Laboratories Corp.
Condensed Consolidated Balance Sheets
(Amounts expressed in US Dollars)





March 31,
2022





March 31,
2021

(Audited)





(Audited)

Assets










Current assets:










Cash and cash equivalents


$ 1,991,377





$ 608,348

Accounts receivable


274,844





451,905

Prepaid expenses and other current assets


1,127,362





1,680,557

Inventories


1,191,020





692,163

Total current assets


4,584,603





3,432,973

Equipment, net


91,234





93,577

Intangible assets, net


-





976,551

Goodwill


-





4,282,984

Total assets


$ 4,675,837





$ 8,786,085












Liabilities and stockholders' equity










Current liabilities:










Accounts payable


$ 305,095





$ 454,809

Accrued liabilities


873,030





760,026

PPP loan


-





459,912

Convertible notes


-





-

Demand loans, current portion


-





2,152,334

Current portion of deferred revenue


313,854





268,083

Total current liabilities


1,491,979





4,095,164

Demand loans, net of current portion


-





1,105,974

Deferred revenue, net of current portion


256,646





303,917

Total liabilities


1,748,625





5,505,055

Total stockholders’ equity


2,927,212





3,281,030

Total liabilities and stockholders’ equity


$ 4,675,837





$ 8,786,085


BIONIK Laboratories Corp.
Condensed Consolidated Statements of Operations
(Audited)
(Amounts expressed in U.S. Dollars)



Three months ended March 31,


Year ended March 31,


2022





2021





2022





2021


Revenues, net


$ 191,262





$ 462,732





$ 1,273,712





$ 1,193,430

Cost of revenues


58,631


127,449


320,454


269,632

Gross Profit


132,631





335,283





953,258





923,798


Operating expenses






















Sales and marketing


585,019


226,199


1,920,749


1,025,404

Research and development


364,369





280,271





998,516





1,544,918

General and administrative


584,540


795,563


2,806,584


4,508,748

Impairment of goodwill and intangible assets


-





-





5,200,608





7,182,053

Total operating expenses


1,533,928


1,302,033


10,926,457


14,261,123
























Loss from operations


(1,401,297)


(966,750)


(9,973,199)


(13,337,325)

Interest expense, net


248,633





139,713





825,209





405,279

Other expense (income), net


55,318


(71,586)


(390,414)


(122,147)

Total other expense


303,951





68,127





434,795





283,132

Net loss


$ (1,705,248)


$ (1,034,877)


$ (10,407,994)


$ (13,620,457)

Loss per share - basic and diluted


$ (0.29)





$ (0.20)





$ (1.78)





$ (2.66)

Weighted average number of shares outstanding – basic and diluted


5,853,048


5,133,269


5,844,006


5,128,421


To supplement our consolidated financial statements presented in accordance with GAAP, BIONIK uses non-GAAP loss from operations, non-GAAP net loss and non-GAAP diluted net loss per share. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. The non-GAAP financial measures included in this press release exclude costs associated with the amortization of intangible assets acquired, share-based compensation expense, extinguishment of existing debt, as well as unrealized foreign exchange gains or losses for the year ended March 31, 2022, and 2021. This exclusion may be different from, and therefore not comparable to, similar measures used by other companies.

BIONIK’s management believes that the non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding amortization, impairment and foreign exchange costs that may not be indicative of our core business operating results. BIONIK believes that both management and investors benefit from referring to the non-GAAP financial measures in assessing BIONIK’s performance and when planning, forecasting and analyzing future periods. BIONIK also believes that the non-GAAP measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in our financial and operational decision making. The non-GAAP Financial measures also facilitate management’s internal comparisons to BIONIK’s historical performance and our competitors’ operating results.


Reconciliation of GAAP Income Statement Measures to Non-GAAP Income Statement Measures (Unaudited)







Three Months Ended
March 31,


Year Ended
March 31,










2022








2021








2022








2021




Loss from operations





$


$ (1,401,297)





$


(966,750


)





$


(9,973,199


)





$


(13,337,325)


Non-GAAP adjustments to loss from operations:














Share-based compensation expense








65,361











100,166











384,365








819,213


Costs associated with impairment of intangibles








-











-











5,200,608











7,182,053




Costs associated with amortization of intangibles








-











23,580











58,927











94,321




Extinguishment of debt








-











-











(459,912


)








-




Total Non-GAAP adjustments to loss from operations








65,361











123,746











5,183,988











8,095,587




Non-GAAP loss from operations





$


(1,335,936)





$


(843,004


)





$


(4,789,211)





$


(5,241,738)










Three Months Ended
March 31,








Year Ended
March 31,








2022








2021








2022








2021


Net loss





$


(1,705,248


)





$


(1,034,877)


$


(10,407,994)





$


(13,620,457


)

Non-GAAP adjustments to net loss:














Share based compensation expense








65,361











100,166











384,365











819,213




Costs associated with impairment of intangibles








-











-











5,200,608











7,182,053




Costs associated with amortization of intangibles








-











23,580











58,927











94,321




Extinguishment of debt








-











-











(459,912)











-




Foreign exchange loss








2,544











33,988











19,107











77,231




Total Non-GAAP adjustments to net loss








67,905











157,734











5,203,095











8,172,818




Non-GAAP net loss





$


(1,637,343


)





$


(877,143)





$


(5,204,899)





$


(5,447,639


)






















































Three Months Ended
March 31,








Year Ended
March 31,










2022








2021








2022








2021




Diluted net loss per share





$


(0.29


)





$


(0.20


)





$


(1.78


)





$


(2.66


)

Share-based compensation expense








0.01











0.02











0.07











0.16




Costs associated with impairment of intangibles








0.00











0.00











0.89











1.40




Costs associated with amortization of intangibles








0.00








0.00











0.01








0.02




Extinguishment of debt








0.00











0.00











(0.08


)








0.00




Foreign exchange loss








0.00











0.01











0.00











0.02




Total Non-GAAP adjustments to net loss








0.01











0.03











0.89











1.60




Non-GAAP diluted net loss per share





$


(0.28


)





$


(0.17


)





$


(0.89


)





$


(1.06


)

Weighted average shares used to compute GAAP diluted net loss per share








5,853,048











5,133,269











5,844,006











5,128,421




Weighted average shares used to compute Non-GAAP diluted net loss per share








5,853,048











5,133,269











5,844,006











5,128,421






















































View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005354/en/

Special Report: Using IoT Data to Quantify InMotion Therapy Gains on Upper Extremity Motor Impairments - https://f.hubspotusercontent40.net/hubfs/4349395/Content%20Offers/BIONIK%20-%20White%20Paper%20-%20Using%20IoT%20Data%20to%20Quantify%20InMotion%20Gains.pdf

Getting more at 1.32. May or may not bring that price back up and hoping that the announcement of ReWalk's "Exoskeleton sets Guinness World Record for Climbing a London Skyscraper While Wearing an Exoskeleton"

Annnddd it looks like another brave soul is testing the waters by selling 1 share of BNKL. I used to do the same thing I'm really wondering if they're trying to bring the Ask price down? I check on this stock multiple times a day and follow them on social platforms they're active on. Looking forward to the next few months and hopefully another interview with Rich Russo giving us a run down of progress made.

While myself and it looks like two others were buying shares at around .90 it looks like someone sold 1,000 shares of BNKL last week @.375 which is so weird to me. I suppose unless their asking/purchasing price was bought around the time this dipped around .70/.80~. I can only guess they were trying to sell some of their shares to bring down the Asking price (down from currently 1.32) that didn't happen and still the next asking price is 1.32 which is gravy. They're going to San Antonio for another conference and I'm excited to see the next major update or milestone.

I'm now a moderator of this chat and there's only a few followers ~12 currently? Hoping this grows just as their Linkedin is (now at 3,614 followers which is +100 followers just from January). So it looks as though their gaining a lot more public attention especially with being featured on the Strokecast podcast which is a channel that speaks on behalf of innovative and advanced stroke recovery methods.

PSA - The way I see this even on .90 is earlier, maybe two years ago they did a reverse stock split of 1-for-150 so when I'm buying "1 share" it'll actually hold a future value of 150 shares. That's my logic.

I take this back, they're going from Physical Therapist Association expo to the next, glad they're doing that. They've actually very rarely gone to these sort of things and for them to go to three in two months is pretty incredible. Also if follow their linkedin, since January they've gained ~90 follows in just one month so that's pretty incredible and interesting. Makes me want to buy more shares still at 4,359 who knows maybe I'll buy a few shares at 1.21 and then see if someone unloads/sells their shares then I'll just pick more up haha

Next ask price is breaking 1.21 from the usual .90, earlier this week BNKL finished at the SCOTA meeting or some sort of physical therapist convention with the PTA (Physical Therapist Association) this is actually their second one - in the month of February and then at the end of March they're going to San Antonio for another convention which is pretty awesome. Also on Linkedin if you follow some of their employees, it looks like they hired back someone who was a regional manager - has background at RWLK and was actually at BNKL a year and a half ago so he's back and extremely interested to see where this goes. Sit-in on 4,359 shares woooooo

You guys heard it here first, Bionik Labs is going to APTA CSM - The American Physical Therapy Association and will be there from Febuary 2nd to the 5th wooooooo

Does this chart update automatically? Because it's today's graph, which is really weird, I'm only on here once every month or so but very weeeiirrdd unless it gets updated daily.

TBH I sort of hope RWLK buys BNKL just to have more news come from them. It kind of sucks the things they post on Twitter aren't like real news, it's just like "If you're having a stroke act F.A.S.T.!!!" I've tried to reach out to Rich Russo on a number of times via email, and through the Bionik Website, I have yet to hear back but shit I hope this just goes back up to like 1.30 atleast lmao

Hope everyone has been well, looks like this is as low as it'll get, I'm loading up when I can with 350 shares per order. Have about 3,100 shares now so I think I'm close to reaching how much I'll put in!! Been following this company since about 2016/2017 - Hopefully in the next few months or so they're commended by the Medical Industry for their InMotion Technology and it becomes the next ISRG (A little different industry, but still)

BNKL Chart

I agree totally, thanks for your input. I know they had a reverse stock split of 150 for 1 so that could be why the stock moves so sharply? They’re still building on their products offered and expanding their equipment into facilities even during covid which I think says a lot. As far as otc stocks go this is def one that doesn’t seem like complete crap haha

BNKLlooks to me like a "story stock". With more news, it can spike. But I would feel more comfortable if it established a steady trend up without the sharp moves. Those spikes scare investors away.

Thoughts on BNKL?

One thing people don’t realize about this company is that although their stock price is 1.50 right now, that’s because of a reverse stock split for 1 for 150 so we’re sitting on shares that I really see them as a share price of .01 150/stock price = absolute share price

Loaded up 600 today

Yeah Bruno

I agree, they’ve done great getting into hospital systems and with their introduction of their Cloud technology only pushes the envelope further for other hospitals and recovery facilities to implement their equipment.

I’ve been in this rock for this company for about 4 years, and I can’t wait to see them emerge. They’ve been slowly but surely implementing their In-Motion technology in hospitals and I’ve seen nothing but helpful and amazing news from those hospitals that implemented their tech in

Thoughts?

any one here?

Trading below cash. 3.8 mil shares outstanding, with float of 250K. This will run if someone sneezes.

If BNKL can get one other major hospital system to place orders for their InMotionRobots, they would have the cash flow that would attract moe traders/investors.

The stock obviously needs more liquidity.

BNKL Chart

BNKL one for 150 reverse split: (PPS closed at .0497)

http://otce.finra.org/DLSymbolNameChanges

Reverse split BNKL 1:150

http://otce.finra.org/DailyList

Been ready for some time now. Nice day for $BNKL today

"BIONIK Laboratories Announces Purchase Agreement from Clinique Les Trois Soleils for InMotion Arm™ Robotic System"
:) are you ready???

No volume the last 2 days. What's going on?

Did it ever run?

13D filed today

13D filed today

13D filed today.

Bionik BNKL to prepare for UPLISTING to an accredited exchange! Letter to shareholds out today!

https://ir.bioniklabs.com/press-releases/detail/63/bionik-laboratories-issues-letter-to-stockholders

Getting new press. Forbes.com

https://www.forbes.com/sites/brucejapsen/2018/03/06/healthcares-artificial-intelligence-market-may-hit-6-billion/2/#475ddb1423a7

Some good news published today!s The Street

https://www.thestreet.com/story/14506915/1/bionik-labs-looks-to-boost-mobility-improve-quality-of-life.html

New Chairman appointed.

https://www.bioniklabs.com/news-media/press-releases/detail/58/bionik-laboratories-corp-appoints-andre-auberton-herve-as

Guys you can buy this below 5Cents. Or 1cent

When would be your best guesse?

Just got Bionked today.

Good Evening Everyone,

Did you get my first email regarding BNKL?

We are coming off a huge winner that moved over 75%
in two sessions on huge volume.

BNKL is a very similar setup with a lot more catalysts
in play.

3 FDA Approvals on the market
1 More coming to market and 1 more looking for approval
Revenues generated as we speak
Recent feature in Barron's
Strong management team with experience
Big movement and heavy action last two sessions
Top tier "QX" Listing
The list goes on and on. The fact is that BNKL is super hot
right now and we think the trent will continue over the next week.

Make sure you research this one throughly. We have a lot to talk
about on the link.
.
Click it: https://www.insiderfinancial.com/thank-you/microcap-profile/.

Ill have more updates.

Hey guys/gals. I JUST got this
from "Insider Financial". They're hyping it for ya and THEY're good....
(No Position)
Good Evening Everyone,

How about that last one? Most of you got it at .24 (if you are on our free text list) and this morning, just two sessions later we saw highs of .428 on massive liquidity.

We told you we were going to redeem ourselves and today's 78% winner sealed the deal. There was plenty of time and a lot traded under .25. It was easy to pick up there when we announced it. It was a tremendous win for the faithful.

Normally I wouldn't come back to you so soon but this is a time sensitive situation.

Pull up BNKL immediately.

Now this one trades on the "QX" exchange which is the "Cadillac" of the OTC. They have more stringent requirements to list than the companies we normally put in front of you.

Pull up the chart and you will see that we haven't seen a lot of interest on this one up until the last two sessions. Yesterday we saw this one shoot up fast early on out of nowhere and settle back down to its range where it pushed the ceiling again during today's session by another 14%.

Trading message boards and twitter are starting to buzz about this one and we are hearing rumblings of a lot of attention heading this ones way. This is a very similar situation to our last one.

You can research here: https://www.insiderfinancial.com/thank-you/microcap-profile/.

Oh it will run. Will be a little and pump for sure though

Umm, I doubt it. Just another "OTC Expert.com" marketing scam.

$BNKL gonna run tomorrow !
http://stockcommander.com/scalert-030817.html

Decent balance sheet...but can they make money.