$AUSI

AURA SYSTEMS INC

CIK:0000826253|SEC Filings

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2026	May 31, 2025
Income Statement [Abstract]
Net revenue	$ 2	$ 185
Cost of goods sold		25
Gross profit	2	160
Operating expenses:
Engineering, research and development	386	353
Selling, general and administration	468	484
Total operating expenses	854	837
Loss from operations	(852)	(677)
Other income (expense):
Interest expense, net (including $385 and $385 to related parties, respectively)	(480)	(594)
Loss on reclassification of equity-classified instruments to derivative liability	(48)
Change in fair value of derivative liability	(7,028)	(1,570)
Net loss	$ (8,408)	$ (2,841)
Basic loss per share (in Dollars per share)	$ (0.06)	$ (0.02)
Diluted loss per share (in Dollars per share)	$ (0.06)	$ (0.02)
Basic weighted-average shares outstanding (in Shares)	144,831,844	119,994,325
Diluted weighted-average shares outstanding (in Shares)	144,831,844	119,994,325

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2026	May 31, 2025
Statement of Cash Flows [Abstract]
Net loss	$ (8,408)	$ (2,841)
Adjustments to reconcile net loss to cash used in operating activities
Depreciation and amortization	55	44
Change in fair value of derivative liability	7,028	1,570
Loss on reclassification of equity-classified instruments to derivative liability	48
Changes in operating assets and liabilities:
Inventory		33
Prepaid and other current assets	71	47
Operating lease right-of-use asset	70	63
Accounts payable and accrued expenses	50	(32)
Accrued interest	426	437
Customer advances	17
Operating lease liability	(76)	(67)
Cash used in operating activities	(719)	(746)
Cash flows from financing activities:
Proceeds from issuance of common stock	751	848
Principal payments of convertible notes payable		(20)
Principal payments of notes payable	(16)	(84)
Cash provided by financing activities	735	744
Net increase (decrease) in cash and cash equivalents	16	(2)
Cash and cash equivalents-beginning of period	11	23
Cash and cash equivalents-end of period	27	21
Cash paid for:
Interest	15
Income taxes
Non-cash investing and financing activities:
Reclassification of equity-classified instruments to derivative liability	$ 1,151

Condensed Balance Sheets - USD ($) $ in Thousands	May 31, 2026	Feb. 28, 2026
Current assets
Cash and cash equivalents	$ 27	$ 11
Inventories	5	5
Prepaid and other current assets	161	232
Total current assets	193	248
Property and equipment, net	744	799
Operating lease right-of-use asset	86	156
Security deposit	160	160
Total assets	1,183	1,363
Current liabilities
Accounts payable and accrued expenses	2,605	2,555
Accrued interest	4,954	4,528
Customer advances	474	457
Convertible notes payable, current portion - past due	1,493	1,493
Notes payable, current portion	349	365
Operating lease liabilities, current portion	86	160
Derivative liability	31,023	22,844
Total current liabilities	53,996	45,414
Notes payable, net of current portion	734	734
Operating lease liabilities, net of current portion	19	21
Total liabilities	54,749	46,169
Commitments and contingencies
Shareholders’ deficit
Common stock: $0.0001 par value; 150,000,000 shares authorized; 148,261,844 and 141,401,844 issued and outstanding at May 31, 2026 and February 28, 2026, respectively.	15	14
Additional paid-in capital	465,888	466,241
Accumulated deficit	(519,469)	(511,061)
Total shareholders’ deficit	(53,566)	(44,806)
Total liabilities and shareholders’ deficit	1,183	1,363
Related Party
Current liabilities
Convertible note payable-related party, including $3,020 and $3,020, respectively - past due	12,279	12,279
Notes payable-related party, including $733 and $733, respectively - past due	$ 733	$ 733