$HRGN
Harvard Apparatus Regenerative Technology Inc

2016 Q4 Form 10-Q Financial Statement

#000114420416133281 Filed on November 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $28.00K $26.00K $8.000K
YoY Change 250.0% -29.73% -82.22%
Cost Of Revenue $59.00K $13.00K $84.00K
YoY Change -29.76% -27.78% 265.22%
Gross Profit -$31.00K $13.00K -$76.00K
YoY Change -59.21% -31.58% -445.45%
Gross Profit Margin -110.71% 50.0% -950.0%
Selling, General & Admin $1.230M $937.0K $930.0K
YoY Change 32.26% -10.08% -41.14%
% of Gross Profit 7207.69%
Research & Development $2.320M $2.225M $1.280M
YoY Change 81.25% 75.33% -0.78%
% of Gross Profit 17115.38%
Depreciation & Amortization $110.0K $120.0K $130.0K
YoY Change -15.38% 0.0% 30.0%
% of Gross Profit 923.08%
Operating Expenses $3.552M $3.162M $2.214M
YoY Change 60.43% 36.82% -22.7%
Operating Profit -$3.583M -$3.149M -$2.290M
YoY Change 56.46% 37.39% -19.42%
Interest Expense $240.0K $100.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net $241.0K $0.00 $0.00
YoY Change
Pretax Income -$3.342M -$3.053M -$2.290M
YoY Change 45.94% 33.2% -19.42%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.342M -$3.053M -$2.290M
YoY Change 45.94% 33.2% -19.42%
Net Earnings / Revenue -11935.71% -11742.31% -28625.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.884M -$3.547M -$3.418M
COMMON SHARES
Basic Shares Outstanding 17.11M shares 17.11M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.940M $6.010M $7.460M
YoY Change -60.59% -26.71% 41.56%
Cash & Equivalents $2.941M $6.006M $7.456M
Short-Term Investments
Other Short-Term Assets $212.0K $100.0K $0.00
YoY Change 25.0%
Inventory $0.00 $41.00K $75.00K
Prepaid Expenses $291.0K $96.00K $330.0K
Receivables $42.00K $66.00K $21.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.486M $6.209M $7.882M
YoY Change -55.77% -26.78% 35.24%
LONG-TERM ASSETS
Property, Plant & Equipment $1.065M $988.0K $1.074M
YoY Change -0.84% -17.8% -21.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.065M $988.0K $1.074M
YoY Change -0.84% -17.8% -21.95%
TOTAL ASSETS
Total Short-Term Assets $3.486M $6.209M $7.882M
Total Long-Term Assets $1.065M $988.0K $1.074M
Total Assets $4.551M $7.197M $8.956M
YoY Change -49.18% -25.69% 24.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $962.0K $803.0K $357.0K
YoY Change 169.47% 265.0% -3.51%
Accrued Expenses $1.210M $760.0K $300.0K
YoY Change 303.33% 590.91% -6.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.777M $2.411M $654.0K
YoY Change 324.62% 628.4% -7.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.777M $2.411M $654.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.777M $2.411M $654.0K
YoY Change 324.62% 628.4% -7.89%
SHAREHOLDERS EQUITY
Retained Earnings -$36.32M -$32.98M $15.00M
YoY Change -342.12% 46.89% -215.07%
Common Stock $171.0K $171.0K $141.0K
YoY Change 21.28% 34.65% 78.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.774M $4.786M $8.302M
YoY Change
Total Liabilities & Shareholders Equity $4.551M $7.197M $8.956M
YoY Change -49.18% -25.69% 24.32%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income -$3.342M -$3.053M -$2.290M
YoY Change 45.94% 33.2% -19.42%
Depreciation, Depletion And Amortization $110.0K $120.0K $130.0K
YoY Change -15.38% 0.0% 30.0%
Cash From Operating Activities -$2.990M -$2.090M -$1.630M
YoY Change 83.44% 12.97% -29.74%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$10.00K $0.00
YoY Change -93.75% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$70.00K -$10.00K $0.00
YoY Change -93.75% -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 0.000 0.000 890.0K
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -2.990M -2.090M -1.630M
Cash From Investing Activities -70.00K -10.00K 0.000
Cash From Financing Activities 0.000 0.000 890.0K
Net Change In Cash -3.060M -2.100M -740.0K
YoY Change 313.51% 8.81% -69.8%
FREE CASH FLOW
Cash From Operating Activities -$2.990M -$2.090M -$1.630M
Capital Expenditures -$70.00K -$10.00K $0.00
Free Cash Flow -$2.920M -$2.080M -$1.630M
YoY Change 79.14% 23.08% -25.57%

Facts In Submission

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dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
Biostage, Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0001563665
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Trading Symbol
TradingSymbol
BSTG
CY2016Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
17108968 shares
CY2016Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2016Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
17108968 shares
CY2016Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17108968 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14101395 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14101395 shares
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
96000 USD
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
306000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3000 USD
CY2016Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
129000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
129000 USD
CY2016Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
129000 USD
CY2015Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
129000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><i>Reclassification</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.41in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Sales and marketing expenses of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.1</font> million and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.3</font> million for the three and nine months ended September 30, 2015, respectively, have been reclassified to selling, general and administrative expenses to conform to the 2016 presentation.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
bstg Grant Date Fair Value Of Warrants Issued To Placement Agent
GrantDateFairValueOfWarrantsIssuedToPlacementAgent
116000 USD
bstg Grant Date Fair Value Of Warrants Issued To Placement Agent
GrantDateFairValueOfWarrantsIssuedToPlacementAgent
0 USD

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