Business Context and Reporting Period
This Form 6-K filing by Check-Cap Ltd. (referred to as Mbody AI Ltd. in metadata) is dated April 4, 2018. The report primarily announces a corporate action regarding a reverse share split and incorporates by reference a press release containing financial results for the three and twelve months ended December 31, 2017.
Key Financial Metrics
The filing text references the announcement of financial results for the three and twelve months ended December 31, 2017, but does not explicitly state the specific values for revenue, profit, cash flow, margins, debt, or liquidity within this document. These figures are contained in the attached press release (Exhibit 99.1) which is incorporated by reference.
Material Changes
- Reverse Share Split: The Company implemented a 1-for-12 reverse share split of its ordinary shares, effective April 4, 2018. This was approved by shareholders at an extraordinary general meeting on April 2, 2018, and by the Board of Directors on the same date.
- Trading Adjustment: Shares began trading on the NASDAQ Capital Market on a post-reverse split adjusted basis on April 4, 2018.
- Authorized Capital: Shareholders approved an increase in authorized and registered share capital by NIS 12,500,000 and amended the Articles of Association accordingly.
- Share Identification: The new CUSIP number for ordinary shares is M2361E 203. Fractional shares resulting from the split are rounded up to the next full share.
Guidance, Outlook, and Risks
The filing text does not provide specific forward-looking guidance, management commentary on future performance, or a detailed discussion of risks and contingencies beyond the execution of the reverse split and capital increase. The document serves primarily as a notification of the corporate action and the availability of the financial results in the attached exhibit.
Investor Verification Checklist
- Verify the specific financial results (revenue, net loss, cash position) for the periods ended December 31, 2017, by reviewing the attached press release (Exhibit 99.1).
- Confirm the post-split share count and the impact of the 1-for-12 ratio on existing holdings.
- Check the new CUSIP number (M2361E 203) for trading and settlement purposes.
- Review the amended Articles of Association regarding the increased authorized share capital of NIS 12,500,000.