$ERNA
Eterna Therapeutics Inc.

2021 Q1 Form 10-Q Financial Statement

#000114036121017648 Filed on May 17, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00 $2.394M
YoY Change -100.0% -50.43%
Cost Of Revenue $950.0K
YoY Change -35.81%
Gross Profit $1.444M
YoY Change -56.9%
Gross Profit Margin 60.32%
Selling, General & Admin $1.673M $3.080M
YoY Change -45.68% -11.24%
% of Gross Profit 213.3%
Research & Development $1.533M
YoY Change
% of Gross Profit
Depreciation & Amortization $25.29K $23.00K
YoY Change 9.95% -96.93%
% of Gross Profit 1.59%
Operating Expenses $8.921M $1.015M
YoY Change 779.32% -71.58%
Operating Profit -$8.921M -$1.015M
YoY Change 779.32% 361.15%
Interest Expense $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$9.601M $4.678K
YoY Change -205337.28% -105.2%
Pretax Income -$18.52M -$1.237M
YoY Change 1397.33% 312.33%
Income Tax $0.00 -$19.00K
% Of Pretax Income
Net Earnings -$18.52M -$1.019M
YoY Change 1717.29% 228.78%
Net Earnings / Revenue -42.57%
Basic Earnings Per Share -$0.67 -$0.06
Diluted Earnings Per Share -$0.67 -$0.06
COMMON SHARES
Basic Shares Outstanding 27.80K 17.50M
Diluted Shares Outstanding 27.80K 17.50M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.410M $2.221M
YoY Change 278.66% -16.82%
Cash & Equivalents $8.410M $3.536M
Short-Term Investments
Other Short-Term Assets $250.2K $1.661M
YoY Change -84.93% -38.25%
Inventory
Prepaid Expenses
Receivables $24.92K $383.0K
Other Receivables $28.49K $0.00
Total Short-Term Assets $8.714M $4.265M
YoY Change 104.3% -31.32%
LONG-TERM ASSETS
Property, Plant & Equipment $568.9K $4.491M
YoY Change -87.33% -31.75%
Goodwill $2.044M
YoY Change
Intangibles
YoY Change
Long-Term Investments $488.5K
YoY Change
Other Assets $509.0K
YoY Change -30.27%
Total Long-Term Assets $11.98M $6.749M
YoY Change 77.57% -34.28%
TOTAL ASSETS
Total Short-Term Assets $8.714M $4.265M
Total Long-Term Assets $11.98M $6.749M
Total Assets $20.70M $11.01M
YoY Change 87.93% -33.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.812M $787.0K
YoY Change 130.24% 63.96%
Accrued Expenses $1.160M $877.0K
YoY Change 32.31% -23.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $642.2K $2.011M
YoY Change -68.06% 95.24%
Total Short-Term Liabilities $3.902M $4.352M
YoY Change -10.34% 7.19%
LONG-TERM LIABILITIES
Long-Term Debt $77.67K $15.00K
YoY Change 417.8% -99.4%
Other Long-Term Liabilities $22.86K $2.798M
YoY Change -99.18% -12.83%
Total Long-Term Liabilities $22.86K $2.813M
YoY Change -99.19% -50.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.902M $4.352M
Total Long-Term Liabilities $22.86K $2.813M
Total Liabilities $25.12M $7.165M
YoY Change 250.58% -26.74%
SHAREHOLDERS EQUITY
Retained Earnings -$55.08M
YoY Change
Common Stock $207.5K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.00M $9.059M
YoY Change
Total Liabilities & Shareholders Equity $20.70M $11.01M
YoY Change 87.93% -33.17%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$18.52M -$1.019M
YoY Change 1717.29% 228.78%
Depreciation, Depletion And Amortization $25.29K $23.00K
YoY Change 9.95% -96.93%
Cash From Operating Activities -$3.430M -$1.873M
YoY Change 83.12% -340.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $4.457K
YoY Change -100.0% -98.89%
Acquisitions
YoY Change
Other Investing Activities $266.3K
YoY Change
Cash From Investing Activities $266.3K -$4.457K
YoY Change -6075.36% -98.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.943M 312.5K
YoY Change 3081.79% -215.74%
NET CHANGE
Cash From Operating Activities -3.430M -1.873M
Cash From Investing Activities 266.3K -4.457K
Cash From Financing Activities 9.943M 312.5K
Net Change In Cash 6.779M -1.565M
YoY Change -533.18% -1522.77%
FREE CASH FLOW
Cash From Operating Activities -$3.430M -$1.873M
Capital Expenditures $0.00 $4.457K
Free Cash Flow -$3.430M -$1.878M
YoY Change 82.68% -594.09%

Facts In Submission

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CY2021Q1 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
5765407
CY2021Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
249905
CY2021Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.5
CY2021Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.5
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-11580863
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-4421275
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
9743103
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
9059125
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; font-style: italic;">Use of Estimates</div><div>&#160;</div><div style="text-align: justify; text-indent: 26.95pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect (a) the reported amounts of assets and liabilities; (b) disclosure of contingent assets and liabilities at the date of the financial statements; (c) the reported amounts of revenues and expenses during the reporting period and (d) the reported amount of the fair value of assets acquired in connection with the business combination. Actual results could differ from those estimates. The Company&#8217;s significant estimates and assumptions include the recoverability and useful lives of long-lived assets, the valuation of stock-based compensation and contingent consideration.</div></div>
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
9002
CY2021Q1 dei Entity Registrant Name
EntityRegistrantName
Brooklyn ImmunoTherapeutics, Inc.
CY2021Q1 dei Document Period End Date
DocumentPeriodEndDate
2021-03-31
CY2021Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
DE
CY2021Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2021Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2021Q1 dei Amendment Flag
AmendmentFlag
false
CY2021Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000748592
CY2021Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
41562739
CY2021Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2021Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2021Q1 dei Document Type
DocumentType
10-Q
CY2021Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2021Q1 dei Entity Shell Company
EntityShellCompany
false
CY2021Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2021Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2020Q4 btx Paycheck Protection Program Loan Current
PaycheckProtectionProgramLoanCurrent
115972
CY2021Q1 btx Paycheck Protection Program Loan Current
PaycheckProtectionProgramLoanCurrent
232235
CY2021Q1 btx Paycheck Protection Program Loan Non Current
PaycheckProtectionProgramLoanNonCurrent
77670
CY2020Q4 btx Paycheck Protection Program Loan Non Current
PaycheckProtectionProgramLoanNonCurrent
193933
CY2020Q1 btx Research And Development Adjustment
ResearchAndDevelopmentAdjustment
38971
CY2021Q1 btx Adjustments To Additional Paid In Capital Elimination Historical Member Equity
AdjustmentsToAdditionalPaidInCapitalEliminationHistoricalMemberEquity
0
CY2021Q1 btx Stock Issued During Period Shares Acquisitions1
StockIssuedDuringPeriodSharesAcquisitions1
1067879
CY2021Q1 btx Stock Issued During Period Value New Issues Of Preferred Stock Retained By Stockholders
StockIssuedDuringPeriodValueNewIssuesOfPreferredStockRetainedByStockholders
0
CY2021Q1 btx Stock Issued During Period Value Acquisitions1
StockIssuedDuringPeriodValueAcquisitions1
8177614
CY2021Q1 btx Stock Issued During Period Value Acquisitions1
StockIssuedDuringPeriodValueAcquisitions1
8177614
CY2021Q1 btx Stock Issued During Period Value Rights Offering Membership Units
StockIssuedDuringPeriodValueRightsOfferingMembershipUnits
10500000
CY2020Q1 btx Stock Issued During Period Value Issuance Of Member Equity
StockIssuedDuringPeriodValueIssuanceOfMemberEquity
312500
CY2021Q1 btx Stock Issued During Period Value Amortization Of Restricted Common Shares
StockIssuedDuringPeriodValueAmortizationOfRestrictedCommonShares
168996
CY2020Q1 btx Stock Issued During Period Value Amortization Of Restricted Common Units
StockIssuedDuringPeriodValueAmortizationOfRestrictedCommonUnits
22734
CY2020Q1 btx Modification Of Vested Restricted Common Shares Expense
ModificationOfVestedRestrictedCommonSharesExpense
0
CY2021Q1 btx Modification Of Vested Restricted Common Shares Expense
ModificationOfVestedRestrictedCommonSharesExpense
249905
CY2021Q1 btx Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-64390
CY2020Q1 btx Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
0
CY2020Q1 btx Increase Decrease In Deposit Assets And Other Non Current Assets
IncreaseDecreaseInDepositAssetsAndOtherNonCurrentAssets
84915
CY2021Q1 btx Increase Decrease In Deposit Assets And Other Non Current Assets
IncreaseDecreaseInDepositAssetsAndOtherNonCurrentAssets
1018
CY2021Q1 btx Percentage Of Royalty Revenue Post Patent Decline After Year One
PercentageOfRoyaltyRevenuePostPatentDeclineAfterYearOne
0.1
CY2021Q1 btx Percentage Of Royalty Revenue Post Patent Decline Year One
PercentageOfRoyaltyRevenuePostPatentDeclineYearOne
0.5
CY2021Q1 btx Noncash Or Part Noncash Acquisition Preferred Shares Issued In Connection With Reverse Merger
NoncashOrPartNoncashAcquisitionPreferredSharesIssuedInConnectionWithReverseMerger
781
CY2020Q1 btx Noncash Or Part Noncash Acquisition Preferred Shares Issued In Connection With Reverse Merger
NoncashOrPartNoncashAcquisitionPreferredSharesIssuedInConnectionWithReverseMerger
0
CY2020Q1 btx Proceeds From Sale Of Members Equity
ProceedsFromSaleOfMembersEquity
312500
CY2021Q1 btx Proceeds From Sale Of Members Equity
ProceedsFromSaleOfMembersEquity
10475082
CY2020Q1 btx Payments Of Paycheck Protection Program Loan
PaymentsOfPaycheckProtectionProgramLoan
0
CY2021Q1 btx Payments Of Paycheck Protection Program Loan
PaymentsOfPaycheckProtectionProgramLoan
531994
CY2021Q1 btx Percentage Of Royalty Revenue Assumed Until2029
PercentageOfRoyaltyRevenueAssumedUntil2029
0.13
CY2021Q1 btx Percentage Of Weighted Average Cost Of Capital
PercentageOfWeightedAverageCostOfCapital
0.24
CY2021Q1 btx Percentage Of Income Taxes Projected In Terms Of Royalty Savings
PercentageOfIncomeTaxesProjectedInTermsOfRoyaltySavings
0.26
CY2021Q1 btx Percentage Of Royalty Revenue Assumed From2030 To2038
PercentageOfRoyaltyRevenueAssumedFrom2030To2038
0.07
CY2021Q1 btx Share Based Payment Arrangement Expense Including Prior Period Vesting Expense
ShareBasedPaymentArrangementExpenseIncludingPriorPeriodVestingExpense
418901
CY2021Q1 btx Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
349592
CY2020Q4 btx Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
399893
CY2020Q4 btx Accrued General And Administrative Expenses
AccruedGeneralAndAdministrativeExpenses
207468
CY2021Q1 btx Accrued General And Administrative Expenses
AccruedGeneralAndAdministrativeExpenses
57702
CY2021Q1 btx Lessee Operating Lease Percentage Of Increase In Annual Lease Rent
LesseeOperatingLeasePercentageOfIncreaseInAnnualLeaseRent
0.03
CY2021Q1 btx Lessee Sublease Term Of Contract
LesseeSubleaseTermOfContract
P8Y
CY2019Q2 btx Area Of Sublease Space Currently Rented
AreaOfSubleaseSpaceCurrentlyRented
999
CY2019Q2 btx Percentage Of Lessee Sublease Increase In Annual Lease Rent Payments
PercentageOfLesseeSubleaseIncreaseInAnnualLeaseRentPayments
0.0225
CY2021Q1 btx Future Minimum Sublease Rentals Sale Leaseback Transactions Within Four Years Thereafter
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFourYearsThereafter
74590
CY2021Q1 btx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
105674

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0001140361-21-017648.txt Edgar Link pending
0001140361-21-017648-xbrl.zip Edgar Link pending
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