On this page of StockholderLetter.com we present the latest annual shareholder letter from Ainos, Inc. — ticker symbol AIMD. Reading current and past AIMD letters to shareholders can bring important insights into the investment thesis.

 •  10/1/2025 Letter Continued (Full PDF)
 •  8/16/2024 AIMD Stockholder Letter
 •  More "Drugs & Pharmaceuticals" Category Stockholder Letters
 •  AIMD Benford's Law Stock Score = 90

AIMD Shareholder/Stockholder Letter Transcript:

U.S. Securities and Exchange Commission
Washington, D.C. 20549
FORM 10-K
(Mark One)

Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the Fiscal Year Ended December 31, 2024

Transition Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from _________ to _________
Commission File Number 001-41461
AINOS, INC.
(Exact name of registrant as specified in its charter)
Texas
(State or other jurisdiction
of incorporation or organization)
75-1974352
(IRS Employer
Identification No.)
8880 Rio San Diego Drive, Ste.800, San Diego, CA
(Address of principal executive offices)
92108
Zip Code
Issuer   s telephone number, including area code:
(858) 869-2986
Securities registered under Section 12(b) of the Exchange Act.
Title of each class
Common Stock
Trading Symbol(s)
AIMD
Common Stock Purchase Warrants
AIMDW
Name of each exchange on which registered
The Nasdaq Stock Market LLC
(Nasdaq Capital Market)
The Nasdaq Stock Market LLC
(Nasdaq Capital Market)
Securities registered under Section 12(g) of the Exchange Act. None
Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    
Yes     No
Indicate by check mark whether the issuer is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act.
    Yes     No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange
Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.     Yes     No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted
pursuant to Rule 405 of Regulation S-T (   232.405 of this chapter) during the preceding 12 months (or for such shorter period
that the registrant was required to submit such files).     Yes     No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller
reporting company, or an emerging growth company. See the definitions of    large accelerated filer,       accelerated filer,   
   smaller reporting company,    and    emerging growth company    in Rule 12b-2 of the Exchange Act.
Large accelerated filer
Non-accelerated filer
Emerging growth company


Accelerated filer
Smaller reporting company


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act.    
Indicate by check mark whether the registrant has filed a report on and attestation to its management   s assessment of the
effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b))
by the registered public accounting firm that prepared or issued its audit report.    
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the
registrant included in the filing reflect the correction of an error to previously issued financial statements.    
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentivebased compensation received by any of the registrant   s executive officers during the relevant recovery period pursuant to
  240.10D-1(b).    
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     Yes     No
As of March 7, 2025, there were issued and outstanding 15,433,257 shares of the registrant   s common stock, par value $0.01,
which is the only class of common or voting stock of the registrant. As of June 30, 2024, the aggregate market value of the
shares of common stock outstanding, other than shares held by persons who may be deemed affiliates of the Registrant,
computed by reference to the closing price of $ 0.8136 for the Registrant   s common stock on June 30, 2024, as reported on
Nasdaq Capital Market, was approximately $3,350,118. Shares of common stock held by officers, directors and each
shareholder owning 10% or more of the outstanding common stock have been excluded in that such persons may be deemed
to be affiliates.

TABLE OF CONTENTS
PART I

ITEM 1.
BUSINESS ...........................................................................................................................................
3
ITEM 1A.
RISK FACTORS ..................................................................................................................................
15
ITEM 1B.
UNRESOLVED STAFF COMMENTS ...............................................................................................
35
ITEM 1C.
CYBERSECURITY .............................................................................................................................
35
ITEM 2.
DESCRIPTION OF PROPERTY .........................................................................................................
36
ITEM 3.
ITEM 4.
LEGAL PROCEEDINGS .....................................................................................................................
MINE SAFETY DISCLOSURES ........................................................................................................
36
36
PART II
ITEM 5.

MARKET FOR THE REGISTRANT   S COMMON EQUITY AND RELATED SHAREHOLDER
MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES..............................................
37
ITEM 6.
[RESERVED].......................................................................................................................................
38
ITEM 7.
MANAGEMENT   S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS .............................................................................................................
38
ITEM 7A.
ITEM 8.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK ......................
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ......................................................
44
44
ITEM 9.
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE ...............................................................................................................
44
ITEM 9A.
CONTROLS AND PROCEDURES .....................................................................................................
44
ITEM 9B.
OTHER INFORMATION ....................................................................................................................
45
ITEM 9C.
DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS .....
45
PART III

46
ITEM 10.
DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE .............................
46
ITEM 11.
EXECUTIVE COMPENSATION ........................................................................................................
48
ITEM 12.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED STOCKHOLDER MATTERS ..........................................................................................
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE ................................................................................................................................
ITEM 13.
3
37
50
52
ITEM 14.
PRINCIPAL ACCOUNTING FEES AND SERVICES .......................................................................
54
PART IV
ITEM 15.

EXHIBITS, FINANCIAL STATEMENT SCHEDULES ....................................................................
54
55
ITEM 16.
FORM 10-K SUMMARY ....................................................................................................................
60
2



 10/1/2025 Letter Continued (Full PDF)