$ISCO
International Stem Cell CORP

2016 Q4 Form 10-Q Financial Statement

#000156459016029235 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q3 2015
Revenue $1.690M $2.136M $7.551M
YoY Change -14.65% 8.98% 7.61%
Cost Of Revenue $460.0K $570.0K $2.056M
YoY Change -17.86% 9.62% 7.03%
Gross Profit $1.240M $1.570M $5.495M
YoY Change -12.68% 8.28% 7.83%
Gross Profit Margin 73.37% 73.5% 72.77%
Selling, General & Admin $1.630M $1.685M $7.352M
YoY Change -15.1% -18.6% -12.37%
% of Gross Profit 131.45% 107.32% 133.79%
Research & Development $750.0K $508.0K $2.608M
YoY Change 47.06% -63.45% -51.58%
% of Gross Profit 60.48% 32.36% 47.46%
Depreciation & Amortization $80.00K $93.00K $472.0K
YoY Change -27.27% -7.92% 3.06%
% of Gross Profit 6.45% 5.92% 8.59%
Operating Expenses $2.400M $2.193M $10.06M
YoY Change -2.44% -36.98% -26.98%
Operating Profit -$1.160M -$622.0K -$4.564M
YoY Change 11.54% -69.36% -47.42%
Interest Expense $3.330M $4.000K $11.00K
YoY Change -840.0% -101.06%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $1.929M
YoY Change -100.0% -150.79%
Pretax Income $2.160M -$540.0K -$2.635M
YoY Change -241.18% -73.45% -78.88%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $2.160M -$539.0K -$2.635M
YoY Change -241.18% -73.5% -78.88%
Net Earnings / Revenue 127.81% -25.23% -34.9%
Basic Earnings Per Share -$0.27 -$1.33
Diluted Earnings Per Share $580.6K -$0.28 -$1.328M
COMMON SHARES
Basic Shares Outstanding 3.643M 1.962M 1.984M
Diluted Shares Outstanding 2.218M

Balance Sheet

Concept 2016 Q4 2015 Q3 2015
SHORT-TERM ASSETS
Cash & Short-Term Investments $110.0K $600.0K $532.0K
YoY Change -79.25% 27.66% -52.12%
Cash & Equivalents $110.0K $599.0K $532.0K
Short-Term Investments
Other Short-Term Assets $420.0K $510.0K $572.0K
YoY Change -26.32% 24.39% 17.94%
Inventory $1.390M $1.870M $1.348M
Prepaid Expenses
Receivables $570.0K $620.0K $539.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.492M $3.593M $2.991M
YoY Change -16.66% 24.76% -17.28%
LONG-TERM ASSETS
Property, Plant & Equipment $396.0K $459.0K $375.0K
YoY Change 4.21% -41.15% -47.48%
Goodwill
YoY Change
Intangibles $3.484M $3.121M
YoY Change
Long-Term Investments
YoY Change
Other Assets $670.0K $60.00K $549.0K
YoY Change 21.82% 0.0% 916.67%
Total Long-Term Assets $4.558M $3.637M $4.147M
YoY Change 9.88% 4.51% 16.39%
TOTAL ASSETS
Total Short-Term Assets $2.492M $3.593M $2.991M
Total Long-Term Assets $4.558M $3.637M $4.147M
Total Assets $7.050M $7.230M $7.138M
YoY Change -1.23% 13.68% -0.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $840.0K $526.0K $1.092M
YoY Change -23.08% -26.94% 62.99%
Accrued Expenses $470.0K $1.373M $834.0K
YoY Change -43.65% 5.62% -51.26%
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 $3.601M $6.396M $5.544M
YoY Change -35.0% 181.76% -19.16%
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 $3.601M $6.396M $5.544M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.600M $6.400M $5.544M
YoY Change -35.02% 181.94% -19.16%
SHAREHOLDERS EQUITY
Retained Earnings -$98.46M
YoY Change
Common Stock $4.000K $2.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.444M $830.0K $1.594M
YoY Change
Total Liabilities & Shareholders Equity $7.045M $7.230M $7.138M
YoY Change -1.33% 13.68% -0.57%

Cashflow Statement

Concept 2016 Q4 2015 Q3 2015
OPERATING ACTIVITIES
Net Income $2.160M -$539.0K -$2.635M
YoY Change -241.18% -73.5% -78.88%
Depreciation, Depletion And Amortization $80.00K $93.00K $472.0K
YoY Change -27.27% -7.92% 3.06%
Cash From Operating Activities -$940.0K -$560.0K -$4.120M
YoY Change 40.3% -48.62% -35.78%
INVESTING ACTIVITIES
Capital Expenditures -$180.0K -$170.0K $35.00K
YoY Change -14.29% -10.53% -87.93%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities -$180.0K -$170.0K -$738.0K
YoY Change -14.29% -10.53% -25.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 500.0K 770.0K 4.279M
YoY Change -39.02% -23.76% -31.75%
NET CHANGE
Cash From Operating Activities -940.0K -560.0K -4.120M
Cash From Investing Activities -180.0K -170.0K -738.0K
Cash From Financing Activities 500.0K 770.0K 4.279M
Net Change In Cash -620.0K 40.00K -579.0K
YoY Change 933.33% -114.81% -48.85%
FREE CASH FLOW
Cash From Operating Activities -$940.0K -$560.0K -$4.120M
Capital Expenditures -$180.0K -$170.0K $35.00K
Free Cash Flow -$760.0K -$390.0K -$4.155M
YoY Change 65.22% -56.67% -38.03%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Revenues
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dei Entity Filer Category
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us-gaap Earnings Per Share Basic
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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us-gaap Increase Decrease In Due To Related Parties Current
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Interest Paid
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<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Product Sales </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company recognizes revenue from product sales at the time of shipment to the customer, provided no significant obligations remain and collection of the receivable is reasonably assured. If the customer has a right of return, the Company recognizes product revenues upon shipment, provided that future returns can be reasonably estimated. In the case where returns cannot be reasonably estimated, revenue will be deferred until such estimates can be made or the right of return has lapsed. </p></div>
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us-gaap Stockholders Equity Reverse Stock Split
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isco Burn Rate Excluding Capital Expenditures And Patent Costs
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FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
2889000
CY2016Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3324000
CY2008Q2 isco Advances From Nonaffiliated Collaboration
AdvancesFromNonaffiliatedCollaboration
250000
CY2008Q2 isco Specified Amount Of Revenue To Be Utilized First For Advances
SpecifiedAmountOfRevenueToBeUtilizedFirstForAdvances
250000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
0
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2008Q2 isco Number Of Accredited Investors
NumberOfAccreditedInvestors
5
CY2016Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17871954
CY2016Q3 isco Related Party Rent Expense
RelatedPartyRentExpense
38000
CY2015Q3 isco Related Party Rent Expense
RelatedPartyRentExpense
35000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
295000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
158000
CY2016Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2800000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y2M12D
CY2013Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
67500
CY2013Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
33750
CY2013Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
30.00
CY2013Q1 isco Warrant Term
WarrantTerm
P5Y
CY2013Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
16667
CY2013Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
33334
CY2013Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
30.00
CY2014Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
850058
CY2015 isco Warrant Exercised
WarrantExercised
517035
CY2015 isco Warrant Forfeited Or Cancelled
WarrantForfeitedOrCancelled
206815
CY2015 isco Class Of Warrants Or Rights Adjustments During Period Rounded Due To Reverse Stock Split
ClassOfWarrantsOrRightsAdjustmentsDuringPeriodRoundedDueToReverseStockSplit
-2
CY2015Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
126206
isco Warrant Issued
WarrantIssued
11159995
isco Warrant Exercised
WarrantExercised
641257
isco Warrant Forfeited Or Cancelled
WarrantForfeitedOrCancelled
3037762
CY2016Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
82000
CY2015Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
73000
CY2016Q3 isco Operating Leases Future Minimum Payments Due In Four Years And Thereafter
OperatingLeasesFutureMinimumPaymentsDueInFourYearsAndThereafter
496000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1628000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
isco Number Of Business Units
NumberOfBusinessUnits
2

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