Business Context and Reporting Period
This Form 8-K Current Report was filed by AVRA Medical Robotics, Inc. (not SS Innovations International, Inc.) on October 10, 2017. The registrant is incorporated in Florida and identifies as an emerging growth company. The report discloses a specific corporate event regarding the sale of equity securities.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, or debt levels. The only specific financial data disclosed relates to a private equity offering:
- Shares Sold: 433,808 shares of common stock.
- Purchase Price: $1.25 per share.
- Total Proceeds: Approximately $542,260 (calculated as 433,808 shares x $1.25).
- Use of Proceeds: General working capital and other corporate purposes.
- Compensation: No commissions or other compensation were paid in connection with the sale.
Material Changes
The material change reported is the unregistered sale of equity securities effective October 10, 2017. The shares were sold to 26 accredited investors, some of whom were existing shareholders. The transaction was conducted pursuant to the exemption from registration afforded by Section 4(a)(2) of the Securities Act of 1933 and Regulation D.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard disclosure of the equity sale. The document does not mention any contingencies or unusual items outside of the capital raise.
Investor Verification Checklist
- Verify the company name discrepancy: The input metadata lists "SS Innovations International, Inc.," but the filing is for "AVRA Medical Robotics, Inc."
- Confirm the total capital raised ($542,260) and its impact on the company's cash position.
- Review the company's latest 10-K or 10-Q for full financial statements, as this 8-K does not contain revenue or profit data.
- Check for subsequent filings regarding the utilization of the working capital proceeds.