Connexa Sports Technologies Inc. (Connexa Sports), a Delaware-incorporated company, filed its annual report for the fiscal year ended April 30, 2023. The report includes audited financial statements and notes, reflecting the company's financial position and results of operations. Connexa Sports reported a net loss of $71,153,685 for the year, with an accumulated deficit of $151,750,610. The company's working capital was negative at $18,775,991. The report also notes the disposal of subsidiaries PlaySight and Foundation Sports, which are now classified as discontinued operations. The disposal resulted in a loss of $41,413,892. Connexa Sports' financial statements have been prepared on a going concern basis, despite substantial doubt about its ability to continue due to its financial condition. The company plans to finance future operations through...Show More

Connexa Sports Technologies Inc. (Connexa Sports), a Delaware-incorporated company, filed its annual report for the fiscal year ended April 30, 2023. The report includes audited financial statements and notes, reflecting the company's financial position and results of operations. Connexa Sports reported a net loss of $71,153,685 for the year, with an accumulated deficit of $151,750,610. The company's working capital was negative at $18,775,991. The report also notes the disposal of subsidiaries PlaySight and Foundation Sports, which are now classified as discontinued operations. The disposal resulted in a loss of $41,413,892. Connexa Sports' financial statements have been prepared on a going concern basis, despite substantial doubt about its ability to continue due to its financial condition. The company plans to finance future operations through existing cash, loans, and potential equity or debt offerings. Connexa Sports operates in the sports equipment and technology business, owning the Slinger Launcher and Gameface AI. The company's common stock is registered on the Nasdaq Capital Market under the symbol CNXA. Connexa Sports has faced compliance issues with Nasdaq's listing requirements, including stockholders' equity and bid price rules, and has been granted extensions to regain compliance. The company's future plans include addressing these compliance issues and continuing its business operations.