SmartKem, Inc. (SMTK) Form 10-Q — Aug 14, 2026
SmartKem's 10-Q for the quarter ended June 30, 2026 discloses substantial going-concern doubt: the company holds just $3.7 million in cash after a $22.6 million net loss for the first half of 2026, and warns that without new capital it may have to curtail operations or seek protection under bankruptcy or insolvency laws. Its operating subsidiary, SmartKem Limited, entered creditors' voluntary liquidation on June 12, 2026 and was deconsolidated, producing a $45.6 million bad-debt write-off and a $43.3 million accounting gain.
Key figures
- Revenue
- 20000
- Total Debt
- 0
- Revenue Yoy
- -63.6%
- Total Assets
- 10356000
- Cash Position
- 3689000
- Deal Value Usd
- 125000000
- Shares Outstanding
- 28263733
- Q2 revenue
- 0
- Bad debt writeoff
- 45648000
- March 2026 rdo shares
- 11365350
- Gain on deconsolidation
- 43308000
- Merger termination payment
- 3000000
- Eloc commitment share expense
- 11874000
- Noteholder settlement payment
- 300000
- March 2026 rdo price per share
- 0.2303
- Shares outstanding dec 31 2025
- 6839689
- Ferrox bridge loan july 27 2026
- 4500000
- Potentially dilutive securities
- 84323717
- Ferrox notes aggregate principal
- 6500000
- Warrants outstanding june 30 2026
- 38305064
- Assumed preferred conversion shares
- 45443059
- Ferrox notes fair value june 30 2026
- 6213000
Price after filing
Close on the filing date to close N calendar days later (from $4.46). Historical, not a forecast.
AI analysis
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