NON INVASIVE MONITORING SYSTEMS INC /FL/

General and administrative costs and expenses from continuing operations. General and administrative (“G&A”) costs and expenses from continuing operations were $29,000 and $127,000 for the three and nine months ended April 30, 2021, respectively, as compared to $40,000 and $139,000 for the three and nine months ended April 30, 2020, respectively. The $11,000 and $12,000 decrease for the three and nine months was primarily due to reduced legal and professional services.

Total operating costs and expenses from continuing operations. Total operating costs and expenses were $29,000 and $127,000 for the three and nine months ended April 30, 2021, respectively, as compared to $40,000 and $139,000 for the three and nine months ended April 30, 2020, respectively. The $11,000 and $12,000 decrease for the three and nine months are explained above in G&A.

Gain from discontinuing operations. Gain from discontinuing operations was $0 for the three and nine months ended April 30, 2021 as compared to a gain of $0 and $1,000 for the three and nine months ended April 30, 2020, respectively. The $1,000 decrease was primarily due to winding down of operations.

Current economic conditions with COVID-19 have been, and continue to be, volatile and continued instability in these market conditions may limit our ability to access the capital necessary to fund and grow our business and to replace, in a timely manner, maturing liabilities or to successfully examine strategic alternatives. Additionally, the sales of equity or convertible debt securities may result in dilution to our stockholders.

Net cash used in operating activities was $142,000 and $140,000 for nine months ended April 30, 2021 and 2020, respectively. This $2,000 increase was primarily due to reduction of accounts payable during the nine months ended April 30, 2021 as compared to the nine months ended April 30, 2020.