2024 Q3 Form 10-Q Financial Statement
#000168316824005711 Filed on August 14, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
Revenue | $0.00 | $0.00 |
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $1.384M | $1.412M |
YoY Change | 23.2% | 19.64% |
% of Gross Profit | ||
Research & Development | $4.245M | $1.117M |
YoY Change | 24.47% | -60.76% |
% of Gross Profit | ||
Depreciation & Amortization | $750.00 | $750.00 |
YoY Change | -76.42% | -25.0% |
% of Gross Profit | ||
Operating Expenses | $5.629M | $2.528M |
YoY Change | 24.15% | -37.2% |
Operating Profit | -$5.629M | -$2.528M |
YoY Change | 24.15% | -37.2% |
Interest Expense | $22.97K | -$2.610K |
YoY Change | 1149.73% | -171.51% |
% of Operating Profit | ||
Other Income/Expense, Net | $22.97K | -$2.618K |
YoY Change | 107.99% | -163.05% |
Pretax Income | -$5.606M | -$2.531M |
YoY Change | 23.95% | -37.07% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$5.606M | -$2.531M |
YoY Change | 23.95% | -37.07% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | -$0.25 | -$6.72 |
Diluted Earnings Per Share | -$0.25 | -$6.72 |
COMMON SHARES | ||
Basic Shares Outstanding | 32.15M shares | 10.63M shares |
Diluted Shares Outstanding | 22.18M shares | 376.6K shares |
Balance Sheet
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $6.973M | $1.492M |
YoY Change | 666.66% | -65.14% |
Cash & Equivalents | $6.973M | $1.492M |
Short-Term Investments | ||
Other Short-Term Assets | $415.0K | $653.8K |
YoY Change | -63.99% | -63.51% |
Inventory | ||
Prepaid Expenses | ||
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $7.388M | $2.145M |
YoY Change | 258.32% | -64.66% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $2.802K | $3.553K |
YoY Change | -19.25% | 5.06% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $18.37K | $320.3K |
YoY Change | -93.01% | -15.08% |
Total Long-Term Assets | $21.18K | $323.9K |
YoY Change | -92.05% | -14.9% |
TOTAL ASSETS | ||
Total Short-Term Assets | $7.388M | $2.145M |
Total Long-Term Assets | $21.18K | $323.9K |
Total Assets | $7.409M | $2.469M |
YoY Change | 218.26% | -61.73% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $4.026M | $6.640M |
YoY Change | -0.03% | 85.95% |
Accrued Expenses | ||
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $31.19K | $123.3K |
YoY Change | -25.56% | -25.93% |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $4.057M | $6.763M |
YoY Change | -0.29% | 69.19% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $0.00 | $0.00 |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $4.057M | $6.763M |
Total Long-Term Liabilities | $0.00 | $0.00 |
Total Liabilities | $4.057M | $6.763M |
YoY Change | -0.29% | 69.19% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$81.25M | -$75.64M |
YoY Change | 26.57% | 26.77% |
Common Stock | $33.45K | $1.443K |
YoY Change | 695.01% | -65.15% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $3.352M | -$4.294M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $7.409M | $2.469M |
YoY Change | 218.26% | -61.73% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$5.606M | -$2.531M |
YoY Change | 23.95% | -37.07% |
Depreciation, Depletion And Amortization | $750.00 | $750.00 |
YoY Change | -76.42% | -25.0% |
Cash From Operating Activities | -$6.800M | -$1.650M |
YoY Change | 101.56% | -51.5% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $0.00 | |
YoY Change | -100.0% | |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | $0.00 | |
YoY Change | -100.0% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 12.28M | 2.327M |
YoY Change | 128368.1% | -9.52% |
NET CHANGE | ||
Cash From Operating Activities | -6.800M | -1.650M |
Cash From Investing Activities | 0.000 | |
Cash From Financing Activities | 12.28M | 2.327M |
Net Change In Cash | 5.482M | 676.3K |
YoY Change | -262.86% | -181.36% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$6.800M | -$1.650M |
Capital Expenditures | $0.00 | |
Free Cash Flow | -$6.800M | |
YoY Change | 101.46% |
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<p id="xdx_802_eus-gaap--NatureOfOperations_zYhVSBlsYDRg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 – <span id="xdx_82D_z1Ytfkbf6Kz3">Nature of Business</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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: 0pt 0"> </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 <span id="xdx_90D_eus-gaap--StockholdersEquityReverseStockSplit_c20221127__20221128_zYDygP9hVKy6">1-for-30</span> 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: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On April 30, 2024, 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-50. The reverse stock split became effective on June 4, 2024 on a <span id="xdx_909_eus-gaap--StockholdersEquityReverseStockSplit_c20240603__20240604_zHew1ogLTQAe">1-for-50</span> 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: 0pt 0"> </p> | ||
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CY2024Q2 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2024Q2 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
1241559 | usd |
CY2024Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
CY2024Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
75000000 | shares |
CY2024Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
CY2022Q4 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1-for-30 | |
CY2024Q1 | us-gaap |
Shares Issued
SharesIssued
|
44314 | shares |
CY2024Q1 | us-gaap |
Share Price
SharePrice
|
0.001 | |
CY2024Q1 | CNSP |
Purchase Of Prefunded Warrants
PurchaseOfPrefundedWarrants
|
222354 | shares |
CY2024Q2 | CNSP |
Purchase Of Prefunded Warrants Exercised
PurchaseOfPrefundedWarrantsExercised
|
44094 | shares |
CY2024Q1 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
3331000 | usd |
CNSP |
Fair Value Of Common Stock On Measurement Date
FairValueOfCommonStockOnMeasurementDate
|
$12.65 to $12.93 per share | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P8Y9M29D | ||
CY2024Q1 | CNSP |
Warrant Amendment Agreement Description
WarrantAmendmentAgreementDescription
|
Company agreed, subject to shareholder approval (which was received on April 30, 2024), to amend certain existing warrants to purchase up to an aggregate of 75,120 shares of Common Stock at an exercise price of $64.00 per share and a termination date of October 16, 2028, so that the amended warrants will have a reduced exercise price of $15.00 per share and a new termination date of February 1, 2029. | |
CY2023Q3 | us-gaap |
Stockholders Equity Other
StockholdersEquityOther
|
2500000 | usd |
CY2024Q2 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q2 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q2 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q2 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |