2018 Q3 Form 10-Q Financial Statement

#000114420418059357 Filed on November 13, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q4 2017 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.340M $3.120M $4.600M
YoY Change -70.87% 212.0% 318.18%
% of Gross Profit
Research & Development $5.316M $12.61M $500.0K
YoY Change 963.2% 84.63% 0.0%
% of Gross Profit
Depreciation & Amortization $200.0K $0.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $7.656M $15.73M $7.084M
YoY Change 8.07% 100.89% 324.19%
Operating Profit -$7.656M -$15.73M -$7.084M
YoY Change 8.07% 100.87% 324.19%
Interest Expense $140.0K $130.0K $140.0K
YoY Change 0.0% -114.13% -170.0%
% of Operating Profit
Other Income/Expense, Net $138.0K $129.0K $144.0K
YoY Change -4.17% -114.07% -172.0%
Pretax Income -$7.520M -$15.60M -$6.940M
YoY Change 8.36% 78.29% 271.12%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$7.518M -$15.60M -$6.940M
YoY Change 8.33% 78.34% 271.12%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$277.0K -$595.4K -$265.0K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.80M $61.00M $67.30M
YoY Change -39.38% 121.82% 506.31%
Cash & Equivalents $18.80M $35.48M $33.21M
Short-Term Investments $22.50M $26.00M $34.10M
Other Short-Term Assets $900.0K $300.0K $400.0K
YoY Change 125.0%
Inventory
Prepaid Expenses $872.0K $278.0K $414.0K
Receivables
Other Receivables $50.00K $0.00
Total Short-Term Assets $41.83M $61.36M $67.75M
YoY Change -38.26% 123.14% 509.34%
LONG-TERM ASSETS
Property, Plant & Equipment $6.793M $1.381M $139.0K
YoY Change 4787.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $394.0K $251.0K
YoY Change
Total Long-Term Assets $7.687M $2.132M $139.0K
YoY Change 5430.22%
TOTAL ASSETS
Total Short-Term Assets $41.83M $61.36M $67.75M
Total Long-Term Assets $7.687M $2.132M $139.0K
Total Assets $49.51M $63.49M $67.89M
YoY Change -27.06% 130.89% 510.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.100M $3.600M $2.800M
YoY Change 46.43% 414.29% 180.0%
Accrued Expenses $300.0K $0.00 $0.00
YoY Change -100.0% -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.052M $3.611M $2.800M
YoY Change 44.71% 12.04% -42.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $500.0K $100.0K
YoY Change
Total Long-Term Liabilities $500.0K $100.0K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.052M $3.611M $2.800M
Total Long-Term Liabilities $500.0K $100.0K $0.00
Total Liabilities $4.522M $3.661M $2.792M
YoY Change 61.96% 13.59% -64.21%
SHAREHOLDERS EQUITY
Retained Earnings -$67.30M -$48.41M -$32.81M
YoY Change 105.14% 182.76% 291.87%
Common Stock $112.3M $98.68M $97.90M
YoY Change 14.7% 166.71% 737.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $44.99M $59.83M $65.09M
YoY Change
Total Liabilities & Shareholders Equity $49.51M $63.49M $67.89M
YoY Change -27.06% 130.89% 510.59%

Cashflow Statement

Concept 2018 Q3 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$7.518M -$15.60M -$6.940M
YoY Change 8.33% 78.34% 271.12%
Depreciation, Depletion And Amortization $200.0K $0.00 $0.00
YoY Change
Cash From Operating Activities -$3.800M -$5.170M -$4.770M
YoY Change -20.34% 128.76% 736.84%
INVESTING ACTIVITIES
Capital Expenditures -$1.150M -$400.0K -$20.00K
YoY Change 5650.0%
Acquisitions
YoY Change
Other Investing Activities $11.50M $7.830M -$15.85M
YoY Change -172.56%
Cash From Investing Activities $10.35M $7.440M -$15.88M
YoY Change -165.18%
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 70.00K
YoY Change -100.0% -100.0% -99.4%
NET CHANGE
Cash From Operating Activities -3.800M -5.170M -4.770M
Cash From Investing Activities 10.35M 7.440M -15.88M
Cash From Financing Activities 0.000 0.000 70.00K
Net Change In Cash 6.550M 2.270M -20.58M
YoY Change -131.83% -86.15% -285.24%
FREE CASH FLOW
Cash From Operating Activities -$3.800M -$5.170M -$4.770M
Capital Expenditures -$1.150M -$400.0K -$20.00K
Free Cash Flow -$2.650M -$4.770M -$4.750M
YoY Change -44.21%

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us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates</div></div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.52in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company&#8217;s unaudited condensed financial statements include certain amounts that are based on management&#8217;s best estimates and judgments. The Company&#8217;s significant estimates include, but are not limited to, assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Due to the uncertainty inherent in such estimates actual results could differ from those estimates.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018Q3 us-gaap Depreciation
Depreciation
200000 USD
CY2017Q3 us-gaap Depreciation
Depreciation
0 USD
CY2018Q3 ck0001680048 Annual Fees Expenses On Founders Agreement
AnnualFeesExpensesOnFoundersAgreement
100000 USD
ck0001680048 Annual Fees Expenses On Founders Agreement
AnnualFeesExpensesOnFoundersAgreement
400000 USD
CY2017Q3 ck0001680048 Annual Fees Expenses On Founders Agreement
AnnualFeesExpensesOnFoundersAgreement
100000 USD
ck0001680048 Annual Fees Expenses On Founders Agreement
AnnualFeesExpensesOnFoundersAgreement
400000 USD
ck0001680048 Potentially Dilutive Securities
PotentiallyDilutiveSecurities
7647873 shares
CY2018Q3 ck0001680048 Maximum Value Of Shares Authorized
MaximumValueOfSharesAuthorized
75000000 USD
CY2018Q3 ck0001680048 Commission Rate Percentage
CommissionRatePercentage
0.030 pure
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
230000 shares
ck0001680048 Potentially Dilutive Securities
PotentiallyDilutiveSecurities
7039109 shares
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2018-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
MUSTANG BIO, INC.
dei Entity Central Index Key
EntityCentralIndexKey
0001680048
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
true
dei Entity Small Business
EntitySmallBusiness
false
CY2018Q3 us-gaap Revenue Recognition Milestone Method Revenue Recognized
RevenueRecognitionMilestoneMethodRevenueRecognized
13500000 USD

Files In Submission

Name View Source Status
0001144204-18-059357-index-headers.html Edgar Link pending
0001144204-18-059357-index.html Edgar Link pending
0001144204-18-059357.txt Edgar Link pending
0001144204-18-059357-xbrl.zip Edgar Link pending
ck0001680048-20180930.xml Edgar Link completed
ck0001680048-20180930.xsd Edgar Link pending
ck0001680048-20180930_cal.xml Edgar Link unprocessable
ck0001680048-20180930_def.xml Edgar Link unprocessable
ck0001680048-20180930_lab.xml Edgar Link unprocessable
ck0001680048-20180930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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