$CRVO
CervoMed Inc. Stock $crvo

$crvo Overview Financials Valuation SEC Filings Company Website

2014 Q4 Form 10-Q Financial Statement

#000110465914079846 Filed on November 12, 2014

Income Statement

Concept	2014 Q4	2014 Q3	2013 Q4
Revenue	$0.00	$0.00	$0.00
YoY Change
Cost Of Revenue			$0.00
YoY Change
Gross Profit			$0.00
YoY Change
Gross Profit Margin
Selling, General & Admin	$1.560M	$1.870M	$290.0K
YoY Change	437.93%	12.65%	-86.88%
% of Gross Profit
Research & Development	$1.530M	$1.273M
YoY Change
% of Gross Profit
Depreciation & Amortization	-$310.0K	$368.9K	$660.0K
YoY Change	-146.97%	4832.8%
% of Gross Profit
Operating Expenses	-$1.200M	$3.512M	$940.0K
YoY Change	-227.66%	111.04%	-59.83%
Operating Profit		-$3.512M	-$940.0K
YoY Change		111.04%	-59.83%
Interest Expense	-$10.00K	$86.67K	$150.0K
YoY Change	-106.67%	548.48%	-97.81%
% of Operating Profit
Other Income/Expense, Net	$530.0K	-$83.52K	$20.00K
YoY Change	2550.0%	-331.49%	-99.84%
Pretax Income	-$7.880M	-$3.595M	-$780.0K
YoY Change	910.26%	120.58%	-104.89%
Income Tax	-$2.820M	-$146.0K	$0.00
% Of Pretax Income
Net Earnings	-$5.070M	-$3.449M	-$810.0K
YoY Change	525.93%	126.15%	-105.09%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share	-$36.21M	-$28.75M	-$40.50M
COMMON SHARES
Basic Shares Outstanding	18.61M shares	18.67M
Diluted Shares Outstanding		18.67M

Balance Sheet

Concept	2014 Q4	2014 Q3	2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$21.88M	$23.79M	$250.0K
YoY Change	8652.0%	9050.0%	-19.35%
Cash & Equivalents	$2.337M	$23.79M	$255.0K
Short-Term Investments
Other Short-Term Assets	$2.290M	$2.220M	$2.740M
YoY Change	-16.42%	-23.45%	3325.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$24.17M	$26.01M	$2.998M
YoY Change	706.16%	710.24%	551.8%
LONG-TERM ASSETS
Property, Plant & Equipment	$102.3K	$54.36K	$11.26K
YoY Change	808.5%	171.79%	-77.48%
Goodwill	$12.06M	$11.53M	$7.643M
YoY Change	57.74%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$18.61M	$24.54M	$15.35M
YoY Change	21.26%	98053.74%	671.14%
TOTAL ASSETS
Total Short-Term Assets	$24.17M	$26.01M	$2.998M
Total Long-Term Assets	$18.61M	$24.54M	$15.35M
Total Assets	$42.78M	$50.55M	$18.34M
YoY Change	133.2%	1462.51%	648.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$417.3K	$105.5K	$1.520M
YoY Change	-72.55%	-93.15%	26.68%
Accrued Expenses	$1.920M	$1.500M	$3.480M
YoY Change	-44.83%	-62.31%	-7.94%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$0.00	$250.0K	$1.870M
YoY Change	-100.0%	-90.31%	-53.25%
Total Short-Term Liabilities	$2.339M	$2.977M	$8.878M
YoY Change	-73.66%	-68.89%	-57.42%
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	$2.339M	$2.977M	$8.878M
Total Long-Term Liabilities	$0.00	$0.00	$0.00
Total Liabilities	$4.613M	$7.748M	$11.88M
YoY Change	-61.17%	-19.04%	-42.97%
SHAREHOLDERS EQUITY
Retained Earnings	-$75.29M	-$70.22M	-$60.94M
YoY Change	23.55%
Common Stock	$113.5M	$113.0M	$67.40M
YoY Change	68.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$38.17M	$42.80M	$6.459M
YoY Change
Total Liabilities & Shareholders Equity	$42.78M	$50.55M	$18.34M
YoY Change	133.2%	1464.93%	648.74%

Cashflow Statement

Concept	2014 Q4	2014 Q3	2013 Q4
OPERATING ACTIVITIES
Net Income	-$5.070M	-$3.449M	-$810.0K
YoY Change	525.93%	126.15%	-105.09%
Depreciation, Depletion And Amortization	-$310.0K	$368.9K	$660.0K
YoY Change	-146.97%	4832.8%
Cash From Operating Activities	-$1.930M	-$1.980M	$0.00
YoY Change		500.0%	-100.0%
INVESTING ACTIVITIES
Capital Expenditures	-$50.00K	$0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities		$0.00
YoY Change
Cash From Investing Activities	-$50.00K	$0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	80.00K	-1.380M	0.000
YoY Change		-370.59%	-100.0%
NET CHANGE
Cash From Operating Activities	-1.930M	-1.980M	0.000
Cash From Investing Activities	-50.00K	0.000
Cash From Financing Activities	80.00K	-1.380M	0.000
Net Change In Cash	-1.900M	-3.360M	0.000
YoY Change		-1966.67%	-100.0%
FREE CASH FLOW
Cash From Operating Activities	-$1.930M	-$1.980M	$0.00
Capital Expenditures	-$50.00K	$0.00
Free Cash Flow	-$1.880M	-$1.980M
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2013Q4	us-gaap	Number Of Businesses Acquired NumberOfBusinessesAcquired	2	item
CY2014Q1	us-gaap	Number Of Businesses Acquired NumberOfBusinessesAcquired	2	item
CY2014Q1	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.01	pure
	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"><i>Use of Estimates</i></p> <p style="MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">The preparation of the Company’s consolidated financial statements in accordance with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company’s consolidated financial statements and accompanying notes.  Although these estimates are based on the Company’s knowledge of current events and actions that the Company may undertake in the future, actual results may differ from such estimates and assumptions.</p> </div>
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2014
CY2014Q3	us-gaap	Business Acquisitions Pro Forma Net Income Loss BusinessAcquisitionsProFormaNetIncomeLoss	-3449470	USD
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	us-gaap	Reclassifications Reclassifications	<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"><i>Reclassification</i></p> <p style="MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">Certain prior period amounts were reclassified to conform to the manner of presentation in the current period.  These reclassifications had no effect on the net (loss) or the stockholders’ equity.</p> </div>
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CY2014Q3	us-gaap	Deferred Tax Assets Operating Loss Carryforwards State And Local DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal	46078297	USD
CY2013Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards State And Local DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal	38743574	USD
CY2014Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	18505625	shares
CY2012Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	890837	shares
	resx	Deferred Tax Assets Valuation Allowance Percentage DeferredTaxAssetsValuationAllowancePercentage	1.00	pure
CY2013	resx	Deferred Tax Assets Valuation Allowance Percentage DeferredTaxAssetsValuationAllowancePercentage	1.00	pure
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	us-gaap	Profit Loss ProfitLoss	-9284877	USD
CY2014Q3	us-gaap	Profit Loss ProfitLoss	-3449470	USD
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CY2013Q3	resx	Business Acquisition Pro Forma Earnings Per Share Basic And Diluted BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted	-0.31
	resx	Business Acquisition Pro Forma Earnings Per Share Basic And Diluted BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted	-1.42
	resx	Business Acquisition Pro Forma Earnings Per Share Basic And Diluted BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted	-0.57
CY2014Q3	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	3765	USD
CY2014Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	54358	USD
CY2013Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	224078	USD
CY2013Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	212816	USD
CY2013Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	11262	USD
CY2014Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	58123	USD
CY2014Q3	us-gaap	Depreciation Depreciation	1905	USD
	us-gaap	Depreciation Depreciation	3765	USD
CY2013Q3	us-gaap	Depreciation Depreciation	7479	USD
	us-gaap	Depreciation Depreciation	24577	USD
CY2014Q3	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	-6056	USD
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	-6056	USD
CY2013Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	7779000	USD
CY2014Q3	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	13921120	USD
CY2013Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	87318	USD
CY2014Q3	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	962340	USD
CY2013Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	7691682	USD
CY2014Q3	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	12958780	USD
CY2013Q4	us-gaap	Goodwill Goodwill	7642825	USD
CY2014Q3	us-gaap	Goodwill Goodwill	11525296	USD
CY2013	resx	Market Capitalization MarketCapitalization	17400000	USD
CY2013	resx	Goodwill And Intangible Assets As Percentage Of Market Capitalization GoodwillAndIntangibleAssetsAsPercentageOfMarketCapitalization	1.13	pure
CY2013Q4	us-gaap	Intangible Assets Net Including Goodwill IntangibleAssetsNetIncludingGoodwill	15334507	USD
CY2013	us-gaap	Goodwill And Intangible Asset Impairment GoodwillAndIntangibleAssetImpairment	0	USD
	resx	Market Capitalization MarketCapitalization	65700000	USD
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	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	1333603	USD
CY2013Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	571328	USD
CY2013Q4	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	479087	USD
CY2013Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	110000	USD
CY2013Q4	us-gaap	Accrued Insurance Current And Noncurrent AccruedInsuranceCurrentAndNoncurrent	393592	USD
CY2013Q4	resx	Accrued Board Fees AccruedBoardFees	657934	USD
CY2013Q4	us-gaap	Other Sundry Liabilities Current OtherSundryLiabilitiesCurrent	57101	USD
CY2013Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1697714	USD
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CY2014Q3	us-gaap	Accrued Insurance Current And Noncurrent AccruedInsuranceCurrentAndNoncurrent	393592	USD
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CY2014Q3	resx	Accrued Board Fees AccruedBoardFees	92917	USD
CY2014Q3	us-gaap	Other Sundry Liabilities Current OtherSundryLiabilitiesCurrent	37012	USD
CY2013Q4	us-gaap	Due To Officers Or Stockholders Current DueToOfficersOrStockholdersCurrent	156358	USD
CY2013Q2	us-gaap	Share Price SharePrice	3.00
	resx	Stock Issued During Period Shares Period Increase StockIssuedDuringPeriodSharesPeriodIncrease	12691840	shares
	us-gaap	Debt Conversion Converted Instrument Shares Issued1 DebtConversionConvertedInstrumentSharesIssued1	552738	shares
	resx	Stock Issued During Period Shares Issued To Creditors In Connection With Settlement Of Debt StockIssuedDuringPeriodSharesIssuedToCreditorsInConnectionWithSettlementOfDebt	419292	shares
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	resx	Common Stock Shares Surrendered Pursuant To Amendment Of Settlement Agreement And Stipulation CommonStockSharesSurrenderedPursuantToAmendmentOfSettlementAgreementAndStipulation	99332	shares
CY2014Q2	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	2776500	shares
CY2014Q2	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	3418125	shares
CY2014Q2	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	872310	shares
CY2014Q2	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	1778750	shares
CY2014Q3	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	50000	shares
CY2014Q3	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	35600000	USD
CY2014Q3	resx	Net Proceeds From Issuance Of Private Placement NetProceedsFromIssuanceOfPrivatePlacement	31300000	USD
CY2014Q3	resx	Payments Of Placement Agent Fees In Private Placement PaymentsOfPlacementAgentFeesInPrivatePlacement	3600000	USD
CY2014Q3	resx	Payments Of Estimated Offering Expenses In Private Placement PaymentsOfEstimatedOfferingExpensesInPrivatePlacement	200000	USD
CY2014Q3	resx	Payments Of Accounts Payable In Private Placement PaymentsOfAccountsPayableInPrivatePlacement	500000	USD
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CY2014Q3	us-gaap	Contractual Obligation ContractualObligation	6767879	USD
CY2014Q3	resx	Contractual Obligation Due In Next Rolling Twelve Months ContractualObligationDueInNextRollingTwelveMonths	3147900	USD
CY2014Q3	resx	Contractual Obligation Due In Next Rolling Year Two ContractualObligationDueInNextRollingYearTwo	2445520	USD
CY2014Q3	resx	Contractual Obligation Due In Next Rolling Year Three ContractualObligationDueInNextRollingYearThree	1143378	USD
CY2013	resx	Number Of Shares Issued For Settlement Of Obligation Transfer Agreement NumberOfSharesIssuedForSettlementOfObligationTransferAgreement	200000	shares
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	1744317	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	23647	USD
CY2014Q3	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	655698	USD
CY2013Q3	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	7479	USD
	resx	Profit After Cost Of Sales And Depreciation ProfitAfterCostOfSalesAndDepreciation	-1744000	USD
	resx	Profit After Cost Of Sales And Depreciation ProfitAfterCostOfSalesAndDepreciation	-24000	USD
CY2014Q3	resx	Profit After Cost Of Sales And Depreciation ProfitAfterCostOfSalesAndDepreciation	-656000	USD
CY2013Q3	resx	Profit After Cost Of Sales And Depreciation ProfitAfterCostOfSalesAndDepreciation	-7000	USD
	resx	Operating Expenses Excluding Depreciation OperatingExpensesExcludingDepreciation	7929000	USD
	resx	Operating Expenses Excluding Depreciation OperatingExpensesExcludingDepreciation	10728000	USD
CY2014Q3	resx	Operating Expenses Excluding Depreciation OperatingExpensesExcludingDepreciation	2942000	USD
CY2013Q3	resx	Operating Expenses Excluding Depreciation OperatingExpensesExcludingDepreciation	1670000	USD
	resx	Nonoperating Income Expense Excluding Derivative Adjustments NonoperatingIncomeExpenseExcludingDerivativeAdjustments	-388000	USD
	resx	Nonoperating Income Expense Excluding Derivative Adjustments NonoperatingIncomeExpenseExcludingDerivativeAdjustments	-34000	USD
CY2014Q3	resx	Nonoperating Income Expense Excluding Derivative Adjustments NonoperatingIncomeExpenseExcludingDerivativeAdjustments	-149000	USD
CY2013Q3	resx	Nonoperating Income Expense Excluding Derivative Adjustments NonoperatingIncomeExpenseExcludingDerivativeAdjustments	-49000	USD
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	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	-9284877	USD
	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	-1501233	USD
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	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	171625	USD
CY2014Q3	us-gaap	Stockholders Equity StockholdersEquity	42799286	USD
CY2013Q4	us-gaap	Stockholders Equity StockholdersEquity	6458757	USD
CY2013Q4	us-gaap	Minority Interest MinorityInterest	6401	USD
CY2013Q3	us-gaap	Disposal Group Including Discontinued Operation Interest Expense DisposalGroupIncludingDiscontinuedOperationInterestExpense	21838	USD
	us-gaap	Disposal Group Including Discontinued Operation Interest Expense DisposalGroupIncludingDiscontinuedOperationInterestExpense	79893	USD
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CY2013Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-1525277	USD
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CY2013Q3	us-gaap	Assets Assets	3235000	USD
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CY2013Q3	us-gaap	Liabilities Liabilities	9570000	USD
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CY2013Q3	resx	Disposal Group Including Discontinued Operation Expenses DisposalGroupIncludingDiscontinuedOperationExpenses	-102374	USD
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CY2013Q4	us-gaap	Assets Assets	18344052	USD
CY2014Q3	us-gaap	Accounts Payable Current AccountsPayableCurrent	105525	USD
CY2013Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	1520206	USD
CY2014Q3	resx	Contractual Obligation Due In Next Rolling Year Three Thereafter ContractualObligationDueInNextRollingYearThreeThereafter	31081	USD
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CY2013Q4	us-gaap	Interest Payable Current InterestPayableCurrent	89472	USD
CY2014Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1490962	USD
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	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; FONT-SIZE: 10pt;"><b>1.</b><b style="FONT-SIZE: 3pt;">                                     </b> <b>Business and Corporate History</b></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">RestorGenex Corporation (“Company”) is a specialty biopharmaceutical company initially focused on developing products for dermatology, ophthalmology and women’s health.  The Company is and will continue to review its products and technologies.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">Prior to the Company repositioning itself as a specialty biopharmaceutical company in 2013, the Company operated various entertainment and sports events which it acquired in a series of acquisitions beginning in March 2008.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">On March 14, 2008, pursuant to an agreement and plan of merger dated August 20, 2007 between Feris International, Inc. (“Feris”) and Pro Sports & Entertainment, Inc. (“PSEI”), Feris issued 49,500,000 shares of its common stock for all issued and outstanding shares of PSEI, resulting in PSEI becoming a wholly owned subsidiary of Feris and the surviving entity for accounting purposes.  In July 2008, Feris’ corporate name was changed to Stratus Media Group, Inc. PSEI was organized on November 23, 1998 and specialized in various entertainment and sports events that it owned and operated. PSEI also owned Stratus Rewards LLC (“Stratus White”) that planned to operate a credit card rewards program.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">In June 2011, the Company acquired series A convertible preferred stock of ProElite, Inc. (“ProElite”), that organized and promoted mixed martial arts (“MMA”) matches.  These holdings of series A convertible preferred stock provided the Company voting rights on an as-converted basis equivalent to a 95% ownership in ProElite.  On February 5, 2009, ProElite entered into an asset purchase agreement and other related agreements with Explosion Entertainment, LLC (“Strikeforce”).  Under the terms of the asset purchase agreement, Strikeforce acquired from ProElite certain fighter contracts, a library of televised ProElite events and specified related assets.  Consideration paid for the assets consisted of (i) $3,000,000 in cash paid at closing, (ii) the assumption of certain liabilities relating to the assets sold and (iii) contingent consideration in the form of rights to receive a portion of the license fee earned by Strikeforce under a distribution agreement between Strikeforce and Showtime Networks Inc. (“Showtime”). ProElite was informed in March 2013 that Strikeforce was no longer conducting these Showtime events and there would be no further license fees received by ProElite.  During the first quarter of 2013, the Company decided to focus on the MMA business and temporarily suspended development of its other businesses.  Because of lack of working capital, effective June 30, 2013, the Company suspended operations of ProElite.  Subsequent to June 30, 2013, following the Company’s repositioning as a specialty biopharmaceutical company, the Company’s Board of Directors voted to discontinue operations of ProElite effective March 31, 2014.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">The Company initiated its efforts to reposition itself as a specialty biopharmaceutical company in 2013 and subsequently acquired two specialty biopharmaceutical companies in November 2013 and then acquired two additional specialty biopharmaceutical companies in March 2014.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">Effective September 30, 2013, the Company entered into an agreement and plan of merger with Canterbury Acquisition LLC, Hygeia Acquisition, Inc., Canterbury Laboratories, LLC (“Canterbury”), Hygeia Therapeutics, Inc. (“Hygeia”) and Yael Schwartz, Ph.D., as holder representative, pursuant to which the Company agreed to acquire by virtue of two mergers all of the outstanding capital stock of Canterbury and Hygeia, with Canterbury and Hygeia becoming wholly owned subsidiaries of the Company.  The consideration paid by the Company in connection with such mergers was the issuance by the Company of an aggregate of 1,150,116 shares of common stock issued to the stakeholders of Canterbury and Hygeia.  Effective November 18, 2013, the mergers were completed, and Canterbury and Hygeia became wholly owned subsidiaries of the Company.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">On March 3, 2014, the Company entered into an agreement and plan of merger with Paloma Acquisition, Inc., Paloma Pharmaceuticals, Inc. (“Paloma”) and David Sherris, Ph.D., as founding stockholder and holder representative, pursuant to which the Company agreed to acquire by virtue of a merger all of the outstanding capital stock of Paloma, with Paloma becoming a wholly owned subsidiary of the Company.  On March 28, 2014, the merger with Paloma was effected and the Company issued an aggregate of 2,500,000 shares of common stock to the holders of Paloma’s common stock and its derivative securities and assumed promissory notes of Paloma in the aggregate amount (including both principal amount and accrued interest) of approximately $1,130,500, to be paid on the first anniversary of the closing date of the Paloma merger.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">Also on March 3, 2014, the Company entered into an agreement and plan of merger with VasculoMedics Acquisition, Inc., VasculoMedics, Inc. (“VasculoMedics”) and Dr. Sherris pursuant to which the Company agreed to acquire by merger all of the outstanding capital stock of VasculoMedics, with VasculoMedics becoming a wholly owned subsidiary of the Company.  The VasculoMedics merger was concurrently closed with and as a condition to the closing of the Paloma merger on March 28, 2014, with the Company issuing an aggregate of 220,000 shares of common stock to the VasculoMedics stockholders.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">On March 7, 2014, the Company effected a reverse stock split of one-for-100 with respect to its common stock and changed its corporate name from Stratus Media Group, Inc. to RestorGenex Corporation.  All share data have been adjusted for all periods presented to reflect the reverse stock split.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt;">As part of the Company repositioning itself as a specialty biopharmaceutical company, effective March 5, 2014, the Company appointed Stephen M. Simes as Chief Executive Officer, and effective May 27, 2014, the Company appointed Phillip B. Donenberg as Chief Financial Officer and effective August 4, 2014, the Company appointed Mark Weinberg, M.D. as Senior Vice President — Clinical Development.</p> </div>
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$CRVO
CervoMed Inc. Stock $crvo

2014 Q4 Form 10-Q Financial Statement

#000110465914079846 Filed on November 12, 2014

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CRVO CervoMed Inc. Stock $crvo

2014 Q4 Form 10-Q Financial Statement

#000110465914079846 Filed on November 12, 2014

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CRVO
CervoMed Inc. Stock $crvo