$CTCX
Carmell Corp

2024 Q1 Form 10-K Financial Statement

#000095017024038992 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $927.4K $2.623M $2.623M
YoY Change 22.59% 271.21% 58.82%
% of Gross Profit
Research & Development $429.4K $2.497M $2.497M
YoY Change -42.0% 13.71%
% of Gross Profit
Depreciation & Amortization $23.53K -$382.7K $97.11K
YoY Change -2.37% 2.99%
% of Gross Profit
Operating Expenses $1.380M $5.217M $5.944M
YoY Change 82.47% 638.37% 259.89%
Operating Profit -$1.380M -$5.944M
YoY Change 82.47% 259.89%
Interest Expense -$11.57K -$26.83K -$26.83K
YoY Change -100.69% -102.01% -101.19%
% of Operating Profit
Other Income/Expense, Net -$2.173M -$10.23M -$10.26M
YoY Change 292.32%
Pretax Income -$3.553M -$16.21M -$16.21M
YoY Change -486.47% -2672.71% -2818.11%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.271M -$16.12M -$15.45M
YoY Change -667.81% -6853.99% -7634.3%
Net Earnings / Revenue
Basic Earnings Per Share -$0.14 -$1.46
Diluted Earnings Per Share -$0.14 -$1.46 -$1.46
COMMON SHARES
Basic Shares Outstanding 19.25M 23.08M 11.02M
Diluted Shares Outstanding 22.92M 11.02M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $892.2K $2.912M $2.912M
YoY Change 5431.06% 1451.99% 1451.99%
Cash & Equivalents $892.2K $2.912M
Short-Term Investments
Other Short-Term Assets $17.56K $0.00 $59.78M
YoY Change -84.19% -100.0% 61190.84%
Inventory $0.00
Prepaid Expenses $531.3K $761.3K
Receivables
Other Receivables
Total Short-Term Assets $5.189M $62.90M $62.90M
YoY Change 3979.19% 21954.58% 21954.74%
LONG-TERM ASSETS
Property, Plant & Equipment $170.4K $192.8K $1.025M
YoY Change -24.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $991.1K $1.049M $1.049M
YoY Change -99.37% -99.33% -99.33%
TOTAL ASSETS
Total Short-Term Assets $5.189M $62.90M $62.90M
Total Long-Term Assets $991.1K $1.049M $1.049M
Total Assets $6.180M $63.95M $63.95M
YoY Change -96.1% -59.26% -59.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.283M $4.417M $4.417M
YoY Change 106.54%
Accrued Expenses $1.891M $2.921M $2.921M
YoY Change 4.04% 132.17% 132.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $731.3K $1.289M $1.289M
YoY Change
Total Short-Term Liabilities $6.906M $38.50M $38.50M
YoY Change 163.28% 2189.73% 2189.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $666.5K $697.7K $697.7K
YoY Change -87.09% -87.09%
Total Long-Term Liabilities $666.5K $697.7K $697.7K
YoY Change -87.09% -87.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.906M $38.50M $38.50M
Total Long-Term Liabilities $666.5K $697.7K $697.7K
Total Liabilities $7.572M $39.20M $39.20M
YoY Change 188.69% 453.13% 453.13%
SHAREHOLDERS EQUITY
Retained Earnings -$61.77M -$58.50M
YoY Change 4622.55% 872.12%
Common Stock $1.936K $2.309K
YoY Change 158.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.392M $24.75M $24.75M
YoY Change
Total Liabilities & Shareholders Equity $6.180M $63.95M $63.95M
YoY Change -96.1% -59.26% -59.26%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$3.271M -$16.12M -$15.45M
YoY Change -667.81% -6853.99% -7634.3%
Depreciation, Depletion And Amortization $23.53K -$382.7K $97.11K
YoY Change -2.37% 2.99%
Cash From Operating Activities -$1.076M -$3.144M -$8.348M
YoY Change 527.16% 1562.31% 1608.1%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $30.47K
YoY Change 325.32%
Acquisitions
YoY Change
Other Investing Activities -$748.8K
YoY Change
Cash From Investing Activities -$748.8K -$663.0K -$30.47K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -195.7K -1.249M 11.16M
YoY Change -11515.85%
NET CHANGE
Cash From Operating Activities -1.076M -3.144M -8.348M
Cash From Investing Activities -748.8K -663.0K -30.47K
Cash From Financing Activities -195.7K -1.249M 11.16M
Net Change In Cash -2.020M -5.056M 2.784M
YoY Change 1077.8% 2572.9% -574.71%
FREE CASH FLOW
Cash From Operating Activities -$1.076M -$3.144M -$8.348M
Capital Expenditures $0.00 $30.47K
Free Cash Flow -$3.144M -$8.379M
YoY Change 1589.57%

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CY2022 ctcx Interest Recognized Upon Default
InterestRecognizedUponDefault
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CY2023 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
659927
CY2022 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
55069
CY2023 us-gaap Increase Decrease In Assets Held For Sale
IncreaseDecreaseInAssetsHeldForSale
-18938353
CY2022 us-gaap Increase Decrease In Assets Held For Sale
IncreaseDecreaseInAssetsHeldForSale
-0
CY2023 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
204559
CY2023 us-gaap Increase Decrease In Other Current Assets
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-28175
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
28175
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-449873
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1059946
CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
570221
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
429790
CY2023 us-gaap Increase Decrease In Operating Lease Liability
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-257720
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-124840
CY2023 ctcx Increase Decrease In Accrued Interest Payable Related And Third Party
IncreaseDecreaseInAccruedInterestPayableRelatedAndThirdParty
-109379
CY2022 ctcx Increase Decrease In Accrued Interest Payable Related And Third Party
IncreaseDecreaseInAccruedInterestPayableRelatedAndThirdParty
1056849
CY2023 ctcx Increase Decrease In Liabilities Available For Sales
IncreaseDecreaseInLiabilitiesAvailableForSales
-20732104
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-545441
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8348208
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3428707
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
30470
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7164
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30470
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7164
CY2023 ctcx Proceeds From Merger
ProceedsFromMerger
30951174
CY2022 ctcx Proceeds From Merger
ProceedsFromMerger
0
CY2023 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
951898
CY2022 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
0
CY2023 ctcx Cash Transferred In Connection With Forward Purchase Agreement
CashTransferredInConnectionWithForwardPurchaseAgreement
17535632
CY2022 ctcx Cash Transferred In Connection With Forward Purchase Agreement
CashTransferredInConnectionWithForwardPurchaseAgreement
0
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
41073
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1271
CY2023 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
1859980
CY2022 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0
CY2023 us-gaap Repayments Of Debt
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551833
CY2022 us-gaap Repayments Of Debt
RepaymentsOfDebt
0
CY2023 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
2649874
CY2022 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0
CY2023 us-gaap Proceeds From Convertible Debt
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0
CY2022 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
2745974
CY2023 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0
CY2022 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
1064317
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2294
CY2023 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
382222
CY2023 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
20332
CY2023 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
144944
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11162990
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3551658
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2784312
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
115787
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
128149
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12362
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2912461
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
128149
CY2023 us-gaap Interest Paid Net
InterestPaidNet
283526
CY2022 us-gaap Interest Paid Net
InterestPaidNet
92593
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
750000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
CY2023 ctcx Assets Acquired In Acquisition Net
AssetsAcquiredInAcquisitionNet
43135082
CY2022 ctcx Assets Acquired In Acquisition Net
AssetsAcquiredInAcquisitionNet
0
CY2023 ctcx Earnout Liability And Deferred Consideration Payable Incurred In Connection With Acquisition
EarnoutLiabilityAndDeferredConsiderationPayableIncurredInConnectionWithAcquisition
21482292
CY2022 ctcx Earnout Liability And Deferred Consideration Payable Incurred In Connection With Acquisition
EarnoutLiabilityAndDeferredConsiderationPayableIncurredInConnectionWithAcquisition
0
CY2023 ctcx Issuance Of Series A Preferred Stock And Common Stock In Connection With Acquisition
IssuanceOfSeriesAPreferredStockAndCommonStockInConnectionWithAcquisition
21652790
CY2022 ctcx Issuance Of Series A Preferred Stock And Common Stock In Connection With Acquisition
IssuanceOfSeriesAPreferredStockAndCommonStockInConnectionWithAcquisition
0
CY2023 ctcx Accrued Series A Preferred Stock Dividends
AccruedSeriesAPreferredStockDividends
164510
CY2022 ctcx Accrued Series A Preferred Stock Dividends
AccruedSeriesAPreferredStockDividends
307926
CY2023 ctcx Accrued Series C1 Preferred Stock Dividends
AccruedSeriesC1PreferredStockDividends
40551
CY2022 ctcx Accrued Series C1 Preferred Stock Dividends
AccruedSeriesC1PreferredStockDividends
9470
CY2023 ctcx Accrued Series C2 Preferred Stock Dividends
AccruedSeriesC2PreferredStockDividends
470962
CY2022 ctcx Accrued Series C2 Preferred Stock Dividends
AccruedSeriesC2PreferredStockDividends
239104
CY2023 ctcx Debt Discount Recorded In Connection With Loans Payable
DebtDiscountRecordedInConnectionWithLoansPayable
55062
CY2022 ctcx Debt Discount Recorded In Connection With Loans Payable
DebtDiscountRecordedInConnectionWithLoansPayable
0
CY2023 ctcx Conversion Of Common Stock And Preferred Stock In Connection With Merger
ConversionOfCommonStockAndPreferredStockInConnectionWithMerger
32092096
CY2022 ctcx Conversion Of Common Stock And Preferred Stock In Connection With Merger
ConversionOfCommonStockAndPreferredStockInConnectionWithMerger
0
CY2023 ctcx Conversion Of Convertible Notes And Accrued Notes To Series C2 Preferred Stock
ConversionOfConvertibleNotesAndAccruedNotesToSeriesC2PreferredStock
0
CY2022 ctcx Conversion Of Convertible Notes And Accrued Notes To Series C2 Preferred Stock
ConversionOfConvertibleNotesAndAccruedNotesToSeriesC2PreferredStock
15665171
CY2023 ctcx Warrants Issued In Connection With Convertible Notes
WarrantsIssuedInConnectionWithConvertibleNotes
0
CY2022 ctcx Warrants Issued In Connection With Convertible Notes
WarrantsIssuedInConnectionWithConvertibleNotes
409483
CY2023 ctcx Warrants Issued In Connection With Series C1 Preferred Stock
WarrantsIssuedInConnectionWithSeriesC1PreferredStock
0
CY2022 ctcx Warrants Issued In Connection With Series C1 Preferred Stock
WarrantsIssuedInConnectionWithSeriesC1PreferredStock
312088
CY2023 ctcx Initial Recognition Of Derivative Liabilities
InitialRecognitionOfDerivativeLiabilities
0
CY2022 ctcx Initial Recognition Of Derivative Liabilities
InitialRecognitionOfDerivativeLiabilities
1321860
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.28
CY2023Q3 us-gaap Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
29374372
CY2023Q3 us-gaap Assets Held In Trust
AssetsHeldInTrust
29376282
CY2023Q3 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.28
CY2023Q3 ctcx Termination Fee Payable Per Share
TerminationFeePayablePerShare
0.5
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant estimates in these financial statements include those related to the forward purchase asset, earnout liabilities, derivative liabilities, long-term assets and goodwill impairment, the provision or benefit for income taxes and the corresponding valuation allowance on deferred tax assets, and contingent liabilities. If the underlying estimates and assumptions upon which the financial statements are based change in the future, actual amounts may differ from those included in the accompanying financial statements.</span></p>
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q4 ctcx Cash In Excess Of Federally Insured Limits From Continuing Operations
CashInExcessOfFederallyInsuredLimitsFromContinuingOperations
2518378
CY2023Q4 ctcx Cash In Excess Of Federally Insured Limits From Discontinued Operations
CashInExcessOfFederallyInsuredLimitsFromDiscontinuedOperations
554277
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
30000
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
4754357
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0
CY2022Q4 ctcx Capitalized Offering Costs Writeoff
CapitalizedOfferingCostsWriteoff
1278062
CY2022Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
394147
CY2023 us-gaap Business Combination Separately Recognized Transactions Additional Disclosures Acquisition Cost Expensed
BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
1581070
CY2023 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2022 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2023 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
13482292
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
440784
CY2023 us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
The Company has elected to apply the significant financing practical expedient, as allowed under ASC 606. As a result, the Company does not adjust the promised amount of consideration in a customer contract for the effects of a significant financing component when the period of time between when we transfer a promised good or service to a customer and when the customer pays for the good or service will be one year or less.
CY2023 us-gaap Revenue Performance Obligation Description Of Payment Terms
RevenuePerformanceObligationDescriptionOfPaymentTerms
The Company has standard payment terms that generally require payment within approximately 60-120 days.
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6829520
CY2023Q4 ctcx Accrued Severance
AccruedSeverance
452579
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10571219
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17823183
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the year ended December 31, 2023, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">100</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of AxoBio’s revenues. In addition, this customer accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">100</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of accounts receivable at December 31, 2023. AxoBio’s human amnion allograft product made up </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">100</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of revenue for the year ended December 31, 2023. For the year ended December 31, 2023, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">100</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of AxoBio’s human amnion allograft product was purchased from Pinnacle Transplant Technologies, LLC.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2912461
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
128149
CY2023 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-16205252
CY2022 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-9051334
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8348208
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3428707
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-58503401
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-42382291
CY2023 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1
CY2023Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
70746
CY2022Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
70746
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
847851
CY2023Q4 ctcx Debt Instrument Maturity Year
DebtInstrumentMaturityYear
2024
CY2023Q4 ctcx Number Of Office Leases
NumberOfOfficeLeases
2
CY2023 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2028-12-31
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.08
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
27675
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
201400
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2023 us-gaap Lease Cost
LeaseCost
27675
CY2022 us-gaap Lease Cost
LeaseCost
2022
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
109379
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
204930
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
204930
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
204930
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
204930
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
204930
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
204930
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1024650
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
176799
CY2023 us-gaap Description Of Defined Contribution Pension And Other Postretirement Plans
DescriptionOfDefinedContributionPensionAndOtherPostretirementPlans
The Company has 401(k) profit-sharing plans covering substantially all employees. The Company’s discretionary profit-sharing contributions are determined annually by the Board. No discretionary profit-sharing contributions were made to the 401(k) profit- sharing plans during the years ended December 31, 2023 and 2022.
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19236305
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2023 ctcx Percentage Of Outstanding Common Stock
PercentageOfOutstandingCommonStock
0.199
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2235313
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.12
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y25D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1083492
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1504638
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.92
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
21158
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.94
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
2029028
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
2.21
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1689765
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.72
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1850397
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
283438
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.06
CY2023 ctcx Effective Income Tax Rate Reconciliation Loss On Forward Purchase Agreement
EffectiveIncomeTaxRateReconciliationLossOnForwardPurchaseAgreement
0.137
CY2023 ctcx Effective Income Tax Rate Reconciliation Gain On Loan Forgiveness
EffectiveIncomeTaxRateReconciliationGainOnLoanForgiveness
0
CY2022 ctcx Effective Income Tax Rate Reconciliation Gain On Loan Forgiveness
EffectiveIncomeTaxRateReconciliationGainOnLoanForgiveness
-0.025
CY2023 ctcx Effective Income Tax Rate Reconciliation Net Operating Loss Percent
EffectiveIncomeTaxRateReconciliationNetOperatingLossPercent
0
CY2022 ctcx Effective Income Tax Rate Reconciliation Net Operating Loss Percent
EffectiveIncomeTaxRateReconciliationNetOperatingLossPercent
0.026
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.038
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.002
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