2014 Q2 Form 10-Q Financial Statement

#000114420414030532 Filed on May 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $175.9K $375.00 $1.130K
YoY Change 41297.88% -66.81%
Cost Of Revenue $42.37K $60.00 $162.00
YoY Change 117583.33% -62.96%
Gross Profit $133.6K $315.00 $968.00
YoY Change 34238.05% -67.46%
Gross Profit Margin 75.92% 84.0% 85.66%
Selling, General & Admin $1.120M $930.0K
YoY Change
% of Gross Profit 838.48% 295238.1%
Research & Development $293.3K $493.7K $400.4K
YoY Change -21.34% 23.3% 19433.76%
% of Gross Profit 219.6% 156743.17% 41367.98%
Depreciation & Amortization $20.00K $25.52K $26.74K
YoY Change -4.56% 2.65%
% of Gross Profit 14.97% 8100.63% 2761.88%
Operating Expenses $1.415M $1.429M $1.301M
YoY Change 26.99% 9.86% -1.79%
Operating Profit -$1.281M -$1.428M -$1.300M
YoY Change 15.05% 9.91% -1.86%
Interest Expense $72.39K $73.13K $197.9K
YoY Change 125.97% -63.04% 55.68%
% of Operating Profit
Other Income/Expense, Net -$51.65K -$241.3K -$266.4K
YoY Change -62.38% -9.44% 56.57%
Pretax Income -$1.330M -$1.670M
YoY Change
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.333M -$1.670M -$1.566M
YoY Change 6.55% 6.62% 4.79%
Net Earnings / Revenue -757.72% -445246.93% -138583.89%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.167M -$1.653M
COMMON SHARES
Basic Shares Outstanding 22.20M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.00K $110.0K
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $20.00K $10.00K
YoY Change
Inventory $20.00K $17.90K
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $100.0K $137.3K
YoY Change 51.03%
LONG-TERM ASSETS
Property, Plant & Equipment $20.00K $25.52K
YoY Change -51.47%
Goodwill
YoY Change
Intangibles $1.090M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.090M $1.116M
YoY Change -7.91%
TOTAL ASSETS
Total Short-Term Assets $100.0K $137.3K
Total Long-Term Assets $1.090M $1.116M
Total Assets $1.190M $1.253M
YoY Change -4.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $890.0K $1.203M
YoY Change -11.27%
Accrued Expenses $1.230M $1.287M
YoY Change -10.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.910M $5.190M
YoY Change
Total Short-Term Liabilities $8.260M $7.927M
YoY Change 146.27%
LONG-TERM LIABILITIES
Long-Term Debt $80.00K $280.0K
YoY Change
Other Long-Term Liabilities $0.00 $30.00K
YoY Change
Total Long-Term Liabilities $80.00K $310.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.260M $7.927M
Total Long-Term Liabilities $80.00K $310.0K
Total Liabilities $8.330M $8.236M
YoY Change 19.25%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $22.39K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $32.00K
YoY Change
Treasury Stock Shares 558.6K shares 558.6K shares
Shareholders Equity -$7.150M -$6.983M
YoY Change
Total Liabilities & Shareholders Equity $1.190M $1.253M
YoY Change -4.79%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$1.333M -$1.670M -$1.566M
YoY Change 6.55% 6.62% 4.79%
Depreciation, Depletion And Amortization $20.00K $25.52K $26.74K
YoY Change -4.56% 2.65%
Cash From Operating Activities -$950.0K -$806.7K -$771.8K
YoY Change 4.53% 95.93%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $980.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 900.0K $715.0K $1.270M
YoY Change -43.7% 290.17%
NET CHANGE
Cash From Operating Activities -950.0K -$806.7K -$771.8K
Cash From Investing Activities 0.000 $980.00 $0.00
Cash From Financing Activities 900.0K $715.0K $1.270M
Net Change In Cash -50.00K -$90.74K $498.2K
YoY Change -118.21% -828.46%
FREE CASH FLOW
Cash From Operating Activities -$950.0K -$806.7K -$771.8K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$950.0K -$806.7K -$771.8K
YoY Change 4.53%

Facts In Submission

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CY2013Q1 us-gaap Cash Period Increase Decrease
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CY2013Q1 us-gaap Cash
Cash
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us-gaap Interest Paid
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brtx Waiver Of Previously Accrued Executive Salary And Bonus
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CY2014Q1 dei Document Type
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CY2014Q1 dei Amendment Flag
AmendmentFlag
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CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Fiscal Year Focus
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2014
CY2014Q1 dei Document Fiscal Period Focus
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CY2014Q1 dei Trading Symbol
TradingSymbol
BRTX
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EntityCommonStockSharesOutstanding
22202276 shares
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
BioRestorative Therapies, Inc.
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001505497
CY2014Q1 dei Current Fiscal Year End Date
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CY2014Q1 dei Entity Filer Category
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Smaller Reporting Company
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CY2014Q1 brtx Stock Issued During Period Value Issued In Exchange Of Notes Payable Principal Amount
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CY2014Q1 brtx Stock Issued During Period Value Issued In Exchange Of Notes Payable Interest Amount
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CY2014Q1 brtx Stock Issued During Period Shares Issued In Exchange Of Notes Payable
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CY2014Q1 brtx Warrants Issued During Period Number Of Warrants
WarrantsIssuedDuringPeriodNumberOfWarrants
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CY2014Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
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CY2014Q1 us-gaap Proceeds From Convertible Debt
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CY2014Q1 brtx Warrants Issued During Period Number Of Warrants1
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CY2014Q1 brtx Adjustments To Additional Paid In Capital Warrant Modification
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30128 USD
CY2014Q1 brtx Debt Instrument Issue Description
DebtInstrumentIssueDescription
(a) 55% of the fair value of the Companys stock or (b) $0.05 per share. The remaining $30,000 is convertible into shares of the Companys common stock at the election of the holder any time after September 10, 2014 at the lesser of (a) $0.50 per share or (b) 65% of the fair value of the Companys common stock, but with a floor of $0.05 per share.
CY2014Q1 brtx Warrant Aggregate Grant Date Fair Value
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12590 USD
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P3Y
CY2014Q1 brtx Share Based Compensation Arrangement By Share Based Payment Award Grant Date Fair Value
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67830 USD
CY2014Q1 brtx Share Based Compensation Arrangement By Share Based Payment Award Grant Date Fair Value
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5860 USD
CY2013Q4 brtx Loss Contingency Claim Of Shares
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80000 shares
CY2013Q1 us-gaap Lease And Rental Expense
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CY2014Q1 us-gaap Lease And Rental Expense
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11000 USD
us-gaap Lease And Rental Expense
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344000 USD
CY2014Q2 us-gaap Other Notes Payable
OtherNotesPayable
652500 USD

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