2023 Q1 Form 10-K Financial Statement

#000168316823002086 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.359M $2.153M $5.967M
YoY Change 7.8% 140.15% 27.48%
% of Gross Profit
Research & Development $3.568M $3.349M $9.300M
YoY Change 134.51% 76.6% -0.5%
% of Gross Profit
Depreciation & Amortization $1.279K $2.380K $11.76K
YoY Change -62.16% -31.81% -10.05%
% of Gross Profit
Operating Expenses $4.927M $5.502M $15.27M
YoY Change 77.1% 97.0% 8.84%
Operating Profit -$4.927M -$15.27M
YoY Change 56.44% 5.39%
Interest Expense $5.436K -$2.310K $7.027K
YoY Change -311.52% 3.13% -175.64%
% of Operating Profit
Other Income/Expense, Net -$5.436K -$7.027K
YoY Change 111.85% -24.32%
Pretax Income -$4.932M -$5.504M -$15.27M
YoY Change 77.13% 96.92% 8.82%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$4.932M -$5.504M -$15.27M
YoY Change 77.13% 96.92% 8.82%
Net Earnings / Revenue
Basic Earnings Per Share -$2.59 -$11.22
Diluted Earnings Per Share -$2.59 -$3.71 -$11.22
COMMON SHARES
Basic Shares Outstanding 2.226M shares 40.03M shares 1.362M shares
Diluted Shares Outstanding 1.906M shares 1.362M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.111M $10.06M $10.06M
YoY Change -58.92% 100.93% 100.93%
Cash & Equivalents $5.111M $10.06M $10.06M
Short-Term Investments
Other Short-Term Assets $1.862M $2.509M $2.509M
YoY Change -18.8% 1.47% 1.47%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.972M $12.56M $12.56M
YoY Change -52.68% 68.03% 68.03%
LONG-TERM ASSETS
Property, Plant & Equipment $4.385K $5.664K $5.660K
YoY Change -65.55% -64.84% -64.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $438.1K $482.8K $482.8K
YoY Change -61.09% -61.8% -61.8%
Total Long-Term Assets $442.5K $488.5K $488.5K
YoY Change -61.14% -61.84% -61.84%
TOTAL ASSETS
Total Short-Term Assets $6.972M $12.56M $12.56M
Total Long-Term Assets $442.5K $488.5K $488.5K
Total Assets $7.415M $13.05M $13.05M
YoY Change -53.28% 49.05% 49.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.781M $3.682M $3.682M
YoY Change 467.79% 141.78% 141.78%
Accrued Expenses $853.2K $828.4K $828.4K
YoY Change 177.92% 268.26% 268.26%
Deferred Revenue
YoY Change
Short-Term Debt $289.1K $449.9K $410.0K
YoY Change 6.06% 5.61% 5.72%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.923M $4.920M $4.920M
YoY Change 266.87% 130.4% 130.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.923M $4.920M $4.920M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.923M $4.920M $4.920M
YoY Change 266.87% 130.4% 130.4%
SHAREHOLDERS EQUITY
Retained Earnings -$55.65M -$50.72M
YoY Change 44.97%
Common Stock $2.226K $1.617K
YoY Change -94.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.492M $8.133M $8.133M
YoY Change
Total Liabilities & Shareholders Equity $7.415M $13.05M $13.05M
YoY Change -53.28% 49.05% 49.05%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$4.932M -$5.504M -$15.27M
YoY Change 77.13% 96.92% 8.82%
Depreciation, Depletion And Amortization $1.279K $2.380K $11.76K
YoY Change -62.16% -31.81% -10.05%
Cash From Operating Activities -$4.825M -$2.305M -$10.56M
YoY Change 56.79% -28.78% -22.02%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $4.422K
YoY Change -100.0% -176.9%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$4.422K
YoY Change -100.0% -23.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $16.04M
YoY Change 221.63%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$120.3K 5.333M $15.61M
YoY Change -101.14% -6538.8% 246.26%
NET CHANGE
Cash From Operating Activities -$4.825M -2.305M -$10.56M
Cash From Investing Activities 0.000 -$4.422K
Cash From Financing Activities -$120.3K 5.333M $15.61M
Net Change In Cash -$4.945M 3.028M $5.051M
YoY Change -166.5% -191.16% -155.9%
FREE CASH FLOW
Cash From Operating Activities -$4.825M -$2.305M -$10.56M
Capital Expenditures $0.00 $4.422K
Free Cash Flow -$2.305M -$10.56M
YoY Change -28.73% -21.95%

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<p id="xdx_80B_eus-gaap--NatureOfOperations_zEfOd9Gy0uq7" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><b>Note 1 – <span id="xdx_821_zyK73Y5n6DQ5">Nature of Business</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">CNS Pharmaceuticals, Inc. (“we”, “our”, the “Company”) is a clinical pharmaceutical company organized as a Nevada corporation on July 27, 2017 to focus on the development of anti-cancer drug candidates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On August 25, 2022, the stockholders of the Company approved an amendment to the Company’s amended and restated articles of incorporation (the “Amendment”) to effect the reverse stock split at a ratio in the range of 1-for-2 to 1-for-30. The reverse stock split became effective on November 28, 2022 on a 1-for-30 basis without any change in the par value per share, which remained at $0.001. The reverse stock split has been retroactively adjusted throughout these financial statements and footnotes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"> </p>
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CY2021Q4 us-gaap Notes Payable Current
NotesPayableCurrent
387794 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
one-for-thirty (1:30) reverse stock split of the Company’s common stock and the filing of the Amendment to effectuate the reverse split. The reverse stock split became effective on November 28, 2022 on a 1-for-30 basis without any change in the par value per share, which remained at $0.001.
CY2022 CNSP Nonaccountable Expense Allowance
NonaccountableExpenseAllowance
50000 usd
CY2022 us-gaap Legal Fees
LegalFees
100000 usd
CY2022 CNSP Clearing Fees
ClearingFees
15950 usd
CY2022 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
334138 usd
CY2021 CNSP Fair Value Of Common Stock On Measurement Date
FairValueOfCommonStockOnMeasurementDate
$54.00 to $100.80 per share
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0028 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0128 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.2817 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.3072 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M23D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
9626 usd
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2734 usd
CY2022 CNSP Warrants Exercised Shares
WarrantsExercisedShares
204957 shares
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
332750 usd
CY2021 CNSP Warrants Exercised Shares
WarrantsExercisedShares
5041 shares
CY2022 us-gaap Labor And Related Expense
LaborAndRelatedExpense
76087 usd
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
800000 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21 pure
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3206000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3042000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-194000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-100000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3012000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
2942000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
8603000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5860000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
715000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
533000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
628000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
715000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
8690000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5678000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
40966000 usd

Files In Submission

Name View Source Status
cnsp-20221231_cal.xml Edgar Link unprocessable
0001683168-23-002086-index-headers.html Edgar Link pending
0001683168-23-002086-index.html Edgar Link pending
0001683168-23-002086.txt Edgar Link pending
0001683168-23-002086-xbrl.zip Edgar Link pending
cnsp-20221231.xsd Edgar Link pending
cns_ex2301.htm Edgar Link pending
cns_ex3101.htm Edgar Link pending
cns_ex3102.htm Edgar Link pending
cns_ex3201.htm Edgar Link pending
cns_ex3202.htm Edgar Link pending
cns_i10k-2022.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
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R2.htm Edgar Link pending
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R31.htm Edgar Link pending
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R4.htm Edgar Link pending
R5.htm Edgar Link pending
cnsp-20221231_def.xml Edgar Link unprocessable
cnsp-20221231_lab.xml Edgar Link unprocessable
cnsp-20221231_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
cns_i10k-2022_htm.xml Edgar Link completed
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending