$HRGN
Harvard Apparatus Regenerative Technology Inc

2022 Q1 Form 10-Q Financial Statement

#000155837022008998 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.902M $522.0K
YoY Change 264.37% -58.96%
% of Gross Profit
Research & Development $303.0K $473.0K
YoY Change -35.94% -24.2%
% of Gross Profit
Depreciation & Amortization $14.00K $43.00K
YoY Change -67.44% -10.42%
% of Gross Profit
Operating Expenses $2.205M $995.0K
YoY Change 121.61% -47.52%
Operating Profit -$2.205M -$995.0K
YoY Change 121.61%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $28.00K $121.0K
YoY Change -76.86% -221.0%
Pretax Income -$2.177M -$874.0K
YoY Change 149.08% -56.21%
Income Tax
% Of Pretax Income
Net Earnings -$2.177M -$874.0K
YoY Change 149.08% -56.21%
Net Earnings / Revenue
Basic Earnings Per Share -$0.20 -$0.09
Diluted Earnings Per Share -$0.20 -$0.09
COMMON SHARES
Basic Shares Outstanding 10.76M 9.388M
Diluted Shares Outstanding 10.76M 9.388M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $723.0K $466.0K
YoY Change 55.15% -42.18%
Cash & Equivalents $3.828M $516.0K
Short-Term Investments
Other Short-Term Assets $3.207M $438.0K
YoY Change 632.19% 10.61%
Inventory
Prepaid Expenses
Receivables $22.00K
Other Receivables $0.00
Total Short-Term Assets $3.930M $926.0K
YoY Change 324.41% -22.96%
LONG-TERM ASSETS
Property, Plant & Equipment $96.00K $330.0K
YoY Change -70.91% -35.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $238.0K $330.0K
YoY Change -27.88% -35.55%
TOTAL ASSETS
Total Short-Term Assets $3.930M $926.0K
Total Long-Term Assets $238.0K $330.0K
Total Assets $4.168M $1.256M
YoY Change 231.85% -26.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.273M $81.00K
YoY Change 1471.6% -64.32%
Accrued Expenses $4.153M $330.0K
YoY Change 1158.48% -49.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $346.0K
YoY Change
Total Short-Term Liabilities $9.109M $771.0K
YoY Change 1081.45% -23.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $58.00K
YoY Change -100.0%
Other Long-Term Liabilities $30.00K $46.00K
YoY Change -34.78% -24.59%
Total Long-Term Liabilities $30.00K $104.0K
YoY Change -71.15% 70.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.109M $771.0K
Total Long-Term Liabilities $30.00K $104.0K
Total Liabilities $9.139M $875.0K
YoY Change 944.46% -18.22%
SHAREHOLDERS EQUITY
Retained Earnings -$79.10M
YoY Change
Common Stock $108.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.971M $381.0K
YoY Change
Total Liabilities & Shareholders Equity $4.168M $1.256M
YoY Change 231.85% -26.72%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$2.177M -$874.0K
YoY Change 149.08% -56.21%
Depreciation, Depletion And Amortization $14.00K $43.00K
YoY Change -67.44% -10.42%
Cash From Operating Activities -$519.0K -$560.0K
YoY Change -7.32% -48.81%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $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 3.055M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -519.0K -560.0K
Cash From Investing Activities 0.000
Cash From Financing Activities 3.055M 0.000
Net Change In Cash 2.536M -560.0K
YoY Change -552.86% 423.36%
FREE CASH FLOW
Cash From Operating Activities -$519.0K -$560.0K
Capital Expenditures
Free Cash Flow -$519.0K
YoY Change

Facts In Submission

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577000
CY2022Q1 bstg Accrued Advisory Costs Current
AccruedAdvisoryCostsCurrent
188000
CY2021Q4 bstg Accrued Advisory Costs Current
AccruedAdvisoryCostsCurrent
151000
CY2022Q1 bstg Accrued Audit Services Current
AccruedAuditServicesCurrent
96000
CY2021Q4 bstg Accrued Audit Services Current
AccruedAuditServicesCurrent
59000
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
21000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11000
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
2000
CY2022Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1419000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
800000
CY2021 bstg Increase Decrease In Accrual For Contingency Matter
IncreaseDecreaseInAccrualForContingencyMatter
3300000
CY2022Q1 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
6000000.0
CY2022Q1 bstg Remaining Litigation Settlement Expenses Payable
RemainingLitigationSettlementExpensesPayable
5500000
CY2022Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
3300000
CY2022Q1 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
2700000
CY2022Q2 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
200000
CY2022Q1 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
6000000.0
CY2022Q1 us-gaap Loss Contingency Receivable Proceeds
LossContingencyReceivableProceeds
4000000.0
CY2022Q1 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
4000000.0
CY2022Q1 us-gaap Loss Contingency Receivable
LossContingencyReceivable
1500000
CY2022Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P1Y
CY2022Q1 us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
false
CY2022Q1 bstg Lessee Operating Lease Notice For Termination
LesseeOperatingLeaseNoticeForTermination
P180D
CY2022Q1 bstg Sublease Term
SubleaseTerm
P4M
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
29000
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
142000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
169000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
112000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
110000
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
30000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
59000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
142000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
169000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
30000
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
30000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
30000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
30000
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M13D
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M19D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0918
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1024
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3986389
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3509335
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
91000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
54000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
152000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
142000

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