Lucide Ledger

A filing-first public record from Lucide House.

Issue 015 | U.S. Pilot | US

KPRX

KIORA PHARMACEUTICALS INC

Screen state: Passing Source state: Verified 10-Q | 2026-05-08 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 45.3%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
18,682,848USD
Total Liabilities
7,292,528USD
NCAV
11,390,320USD
Cash
10,955,359USD
NCAV per share
3.24USD/share
Evidence
10 annual | 20 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated
12
Triggered
3
Unavailable
7
Requires inspection High NCAV Burn since the previous filing 11,390,320
Latest
11,390,3202026-03-31
Comparison
13,621,6842025-12-31
Change
-16.4%

Basis: NCAV burn since previous filing >= 10%; previous NCAV must be positive

Source periods: SEC 10-Q 2026-03-31 · 0001372514-26-000047; REPORTED_FILING 10-K 2025-12-31

Requires inspection Negative OCF -3,161,332
Latest
-3,161,3322026-03-31
Comparison
n/a
Change
n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2026-03-31 · 0001372514-26-000047

Supporting observation Current Ratio > 1.5 6.68
Latest
6.682026-03-31
Comparison
1.5
Change
n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 10-Q 2026-03-31 · 0001372514-26-000047

7 unavailable checks — inspect missing inputs
High Debt (short-term debt + long-term debt) / ordinary equity >= 50%
Low Debt (short-term debt + long-term debt) / ordinary equity < 20%
Material 1Y Share Increase 1Y share change >= +2% using the same share-count source
NCAV Growing equivalent prior-year NCAV change >= +2%; both NCAV values must be positive
No Material 1Y Share Increase 1Y share change > -2% and <= +1% using the same share-count source
Non-Positive Equity ordinary shareholders equity <= 0
Share Count Reduced 1Y share change <= -2% using the same share-count source

Business Profile

Checklist-driven facts extracted from filing text. Missing fields stay visible in the details.

business_profile_v1

Business profile: 0 of 12 fields established by the current extractor.

Business Profile Field Details

Business Description

Missing Source

Not established by the current extractor from the selected filing context.

Revenue Model

Missing Source

Not established by the current extractor from the selected filing context.

Customers And Channels

Missing Source

Not established by the current extractor from the selected filing context.

Segments And Geography

Missing Source

Not established by the current extractor from the selected filing context.

Tangible Operations Assets

Missing Source

Not established by the current extractor from the selected filing context.

Value Chain

Missing Source

Not established by the current extractor from the selected filing context.

Competition Positioning

Missing Source

Not established by the current extractor from the selected filing context.

Business Lifecycle Cyclicality

Missing Source

Not established by the current extractor from the selected filing context.

Strategy And Capital Allocation

Missing Source

Not established by the current extractor from the selected filing context.

Management Governance Signals

Missing Source

Not established by the current extractor from the selected filing context.

Disclosed Risks

Missing Source

Not established by the current extractor from the selected filing context.

Known Unknowns

Missing Source

Not established by the current extractor from the selected filing context.

Business Profile Sources
Source Filing Date Type Status Provenance
S1 0001372514-25-000078 2025-11-07 10-Q Missing Source Data Vault | sec/cleaned/cik=0001372514/accession=0001372514-25-000078/parser=html-cleaner-v1/full.txt
Share Count & Per-Share Comparability

Data Vault has not published the normalized share-count artifact for this company.

Known Unknowns

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2025-12-31
10-K
USD
2024-12-31
10-K
USD
2023-12-31
10-K
USD
2022-12-31
10-K
USD
2021-12-31
10-K
USD
2020-12-31
10-K
USD
2019-12-31
10-K
USD
2018-12-31
10-K
USD
2017-12-31
10-K
USD
2016-12-31
10-K
USD
Revenue 0 16,020,000 0 n/a 0 12,059 2,686,000 1,652,520 407,518 669,259
Operating Income -12,831,073 4,510,288 -12,586,896 -12,309,523 -16,942,461 -8,212,755 n/a -10,844,701 n/a n/a
Net Income -10,835,154 3,594,733 -12,513,896 -13,583,610 -16,394,919 -8,091,940 -7,096,696 -10,811,423 -13,217,917 -13,343,437
Cash From Operations -9,961,176 8,559,115 -9,556,951 -10,428,133 -10,887,672 -7,317,169 -8,153,833 -10,844,512 -6,468,541 -8,413,180
Capex -110,789 -6,256 0 0 -63,865 -20,077 0 -20,000 -36,999 0
Free Cash Flow -10,071,965 8,552,859 -9,556,951 -10,428,133 -10,951,537 -7,337,246 -8,153,833 -10,864,512 -6,505,540 -8,413,180
Cash And Equivalents 8,696,570 3,792,322 2,454,684 5,964,556 7,854,690 1,185,677 3,776,712 8,004,237 7,806,029 3,635,224
Accounts Receivable 1,522,770 601,197 0 n/a n/a n/a n/a n/a n/a n/a
Inventory n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Total Current Assets 21,748,448 29,706,012 4,738,031 7,680,666 8,990,770 1,810,149 4,324,305 8,478,433 8,459,305 4,154,038
Total Assets 24,253,300 36,484,484 13,711,870 18,678,259 18,057,994 15,157,559 10,112,514 14,280,617 14,305,392 9,730,602
Total Current Liabilities 3,631,498 6,008,713 1,633,995 3,272,363 1,609,608 1,772,327 1,414,695 3,864,382 14,833,536 7,308,058
Total Liabilities 8,126,764 10,724,708 7,602,216 7,270,659 8,833,380 8,158,018 3,490,059 5,344,350 16,232,314 10,060,023
Shareholders Equity 16,126,536 25,759,776 6,109,654 11,407,600 9,224,614 6,999,541 6,622,455 8,936,267 -1,926,922 -329,421
Shares Outstanding 3,950,628 3,000,788 2,917,355 213,252 2,931 1,643 1,071 45 18 11
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 4,166,692 4,125,075 538,007 81,367 2,139 1,059 736 37 15 9
Weighted Avg Shares Basic 4,166,692 3,872,644 538,007 81,367 2,139 1,059 736 37 15 9
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric
2026-06-30
10-Q
USD
2026-03-31
10-Q
USD
2025-12-31
10-K
USD
2025-09-30
10-Q
USD
2025-06-30
10-Q
USD
2025-03-31
10-Q
USD
2024-12-31
10-K
USD
2024-09-30
10-Q
USD
2024-06-30
10-Q
USD
2024-03-31
10-Q
USD
2023-12-31
10-K
USD
2023-09-30
10-Q
USD
2023-06-30
10-Q
USD
2023-03-31
10-Q
USD
2022-12-31
10-K
USD
2022-09-30
10-Q
USD
2022-06-30
10-Q
USD
2022-03-31
10-Q
USD
2021-12-31
10-K
USD
2021-09-30
10-Q
USD
Revenue n/a n/a 0 0 0 0 0 0 20,000 16,000,000 0 0 0 0 n/a n/a n/a n/a n/a n/a
Operating Income -2,213,771 -2,510,195 -7,310,085 -794,437 -2,396,197 -2,330,354 -2,564,682 -3,602,237 -2,544,887 13,222,094 -2,118,649 -5,918,568 -2,633,012 -1,916,667 -2,634,998 -3,703,035 -2,402,048 -3,569,442 -8,649,206 -2,967,083
Net Income -2,079,010 -2,417,984 -6,516,521 26,806 -2,152,459 -2,192,980 -4,223,502 -3,413,326 -2,221,646 13,453,207 -2,268,606 -5,762,941 -2,613,813 -1,868,536 -2,498,446 -5,119,339 -2,400,811 -3,565,014 -8,377,976 -2,966,824
Cash From Operations -1,891,935 -3,161,332 -2,180,455 -1,273,088 -3,803,434 -2,704,199 -2,252,358 920,057 -3,733,439 13,624,855 -2,581,341 -2,521,097 -1,384,919 -3,069,594 -2,129,000 -2,967,808 -2,498,939 -2,832,386 -3,410,140 -2,270,107
Capex -23,456 -5,018 -78,163 -431 -32,195 0 n/a 0 n/a n/a n/a 0 n/a n/a n/a 0 -5,746 -58,119 0 0
Free Cash Flow -1,915,391 -3,166,350 -2,258,618 -1,273,519 -3,835,629 -2,704,199 n/a 920,057 n/a n/a n/a -2,521,097 n/a n/a n/a -2,967,808 -2,504,685 -2,890,505 -3,410,140 -2,270,107
Cash And Equivalents 7,076,533 10,955,359 8,696,570 5,508,899 1,028,324 3,771,024 3,792,322 5,637,019 6,575,394 31,276,330 2,454,684 5,400,498 7,951,650 3,426,067 5,964,556 4,801,616 2,427,902 5,067,354 7,854,690 11,106,927
Total Current Assets 21,262,515 18,682,848 21,748,448 22,693,856 24,737,255 27,107,291 29,706,012 31,652,637 31,830,805 33,481,693 4,738,031 6,982,976 9,022,661 5,617,984 7,680,666 6,624,196 4,380,043 6,549,936 8,990,770 11,870,019
Total Liabilities 6,919,401 7,292,528 8,126,764 7,452,712 9,818,207 10,319,475 10,724,708 8,479,302 7,712,592 7,535,644 7,602,216 7,792,474 6,242,588 6,372,091 7,270,659 7,140,882 6,700,895 6,378,482 8,833,380 8,145,293
Shares Outstanding 4,424,387 4,431,940 3,950,628 3,677,935 3,433,491 3,043,857 3,000,788 3,000,788 2,970,545 2,917,355 2,917,355 854,360 805,228 224,919 213,252 126,874 8,510 3,025 2,931 2,929
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 6,177,679 4,174,802 4,170,029 4,361,740 3,989,042 4,217,007 3,872,644 4,214,950 4,170,627 3,891,722 780,723 789,656 365,530 207,052 732,303 94,282 3,024 3,023 2,918 2,376
Weighted Avg Shares Basic 6,177,679 4,174,802 4,170,029 4,289,853 3,989,042 4,217,007 3,872,644 4,214,950 4,170,627 2,881,796 780,723 789,656 365,530 207,052 732,303 94,282 3,024 3,023 2,918 2,376
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 21,262,515USD us-gaap:AssetsCurrent 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0001372514/companyfacts.json
Data Vault | sec/companyfacts/cik=0001372514/companyfacts.json
Total Liabilities 6,919,401USD us-gaap:Liabilities 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0001372514/companyfacts.json
Data Vault | sec/companyfacts/cik=0001372514/companyfacts.json
Cash 7,076,533USD us-gaap:CashAndCashEquivalentsAtCarryingValue 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0001372514/companyfacts.json
Data Vault | sec/companyfacts/cik=0001372514/companyfacts.json
Shares Outstanding 4,424,387 dei:EntityCommonStockSharesOutstanding 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0001372514/companyfacts.json
Data Vault | sec/companyfacts/cik=0001372514/companyfacts.json
NCAV 14,343,114USD derived 2026-06-30 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 3.24USD derived 2026-06-30 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 45.3% derived 2026-06-30 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001372514
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001372514/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001372514/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
26
Imported At
2026-11-01T11:35:19+00:00
Rendered At
2026-11-01T14:57:29+00:00

Run Audit

Mary Run
96f10914845d4a63bf1f2ca5985451b2
Mary As Of
2026-10-30
Accession
0001372514-26-000047
CIK
0001372514
Mary Filing Date
2026-05-08
Filing Currency
USD
Internal Discount
45.3%
Source State
Verified
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=96f10914845d4a63bf1f2ca5985451b2; mary_as_of=2026-10-30; mary_filing_date=2026-05-08; mary_accession=0001372514-26-000047; mary_cik=0001372514; gnni_supporting_filing_date=2026-05-08; internal_discount=0.453061; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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