Non-Invasive Monitoring Systems, Inc.

Overview

• Florida corporation, formed July 16, 1980. Office: 4400 Biscayne Boulevard, Miami, FL 33137; phone (305) 575-4200.
• Historically focused on research, development, manufacturing, marketing and sales of non-invasive, motorized whole body periodic acceleration (WBPA) platforms designed to temporarily increase local circulation to relieve minor aches and pains, promote local muscle relaxation, and reduce morning stiffness.
• Effective May 2019, operations were effectively discontinued. The company is described as a shell company pursuant to Rule 12b-2 of the Exchange Act.
• Current status: no inventory and no products available for sale.

Current operations and products

• Products: no inventory and no products available for sale.
• Revenue: none reported.

Financial highlights (selected, 2025/2024)

• Net loss:
  • Fiscal year ended July 31, 2025: net loss of $222,000
  • Fiscal year ended July 31, 2024: net loss of $113,000
• Accumulated deficit: $29.0 million as of July 31, 2025.
• Cash and liquidity: $3,000 in cash as of July 31, 2025; negative working capital of approximately $947,000.
• Going concern: the company states there is substantial doubt about its ability to continue as a going concern without additional equity or debt financing.

Financing and capital structure

• The company expects to finance future cash needs through public or private equity offerings, debt financings, mergers or acquisitions, or collaboration/licensing arrangements; such financing could be dilutive to existing shareholders and may include restrictive covenants.
• Authorized capital stock: 401,000,000 shares (400,000,000 common; 1,000,000 preferred).
• Outstanding (as of January 30, 2026): 154,810,655 shares of common stock; 100 shares of Series B preferred; no outstanding stock options.
• The company may issue additional shares or other securities in connection with financing, hiring, acquisitions, or other business purposes, which could dilute existing shareholders.
• Market: common stock trades on the OTC Pink (penny stock) market. 52-week price range (as of the report): $0.00 to $0.01. Penny stock status carries additional regulatory disclosure requirements for broker-dealers and can present liquidity and trading challenges.

Governance and internal controls

• Internal controls: identified material weaknesses in internal controls and has not demonstrated remediation of all deficiencies.
• Governance: as of the period, there was no independent audit committee or compensation committee. One independent director (resigned August 28, 2025) plus the other directors served as the audit committee; none of the current directors are independent under Rule 10A-3. This structure affects oversight of risk management and financial reporting.
• Reporting: the company experienced delays in filing required SEC reports in the prior year (Annual Report on Form 10-K for the year ended July 31, 2025 and Form 10-Q for the quarter ended October 31, 2025).

Property and location

• Principal office: 4400 Biscayne Blvd., Miami, Florida.
• Occupancy arrangement: space is occupied via Frost Real Estate Holdings, LLC, controlled by Dr. Phillip Frost, a Board member and significant shareholder.
• Prior occupancy: approximately 1,800 square feet leased under a five-year term starting January 1, 2008 (expired December 31, 2012), then on a month-to-month basis; rent reduced to $0 per month in February 2016.

Legal proceedings

• None reported.