2023 Q4 Form 10-K Financial Statement

#000155837024002899 Filed on March 11, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.179M $9.686M
YoY Change -9.02% -20.67%
% of Gross Profit
Research & Development $6.377M $40.51M
YoY Change -60.97% -35.15%
% of Gross Profit
Depreciation & Amortization $284.0K $1.900M
YoY Change -60.99% -29.63%
% of Gross Profit
Operating Expenses $8.856M $49.26M
YoY Change -54.43% -35.32%
Operating Profit -$49.26M
YoY Change -35.32%
Interest Expense $126.0K -$3.259M
YoY Change -115.05% 22.06%
% of Operating Profit
Other Income/Expense, Net -$1.000K -$2.342M
YoY Change -100.16% 71.45%
Pretax Income -$8.616M -$51.60M
YoY Change -56.12% -33.44%
Income Tax
% Of Pretax Income
Net Earnings -$8.616M -$51.60M
YoY Change -56.12% -33.44%
Net Earnings / Revenue
Basic Earnings Per Share -$6.00
Diluted Earnings Per Share -$0.86 -$6.00
COMMON SHARES
Basic Shares Outstanding 8.604M
Diluted Shares Outstanding 8.604M

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.234M $6.234M
YoY Change -91.76% -91.76%
Cash & Equivalents $6.234M $6.234M
Short-Term Investments
Other Short-Term Assets $1.233M $1.233M
YoY Change -60.98% -60.98%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $11.35M $11.35M
YoY Change -85.61% -85.61%
LONG-TERM ASSETS
Property, Plant & Equipment $3.218M $4.813M
YoY Change -65.73% -60.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $833.0K $1.583M
YoY Change 219.16% 25.54%
Total Long-Term Assets $6.396M $6.396M
YoY Change -52.87% -52.87%
TOTAL ASSETS
Total Short-Term Assets $11.35M $11.35M
Total Long-Term Assets $6.396M $6.396M
Total Assets $17.74M $17.74M
YoY Change -80.8% -80.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.322M $6.322M
YoY Change -7.48% -7.48%
Accrued Expenses $8.310M $8.310M
YoY Change 8.94% 8.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.37M $15.37M
YoY Change 1.73% 1.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $2.248M $2.248M
YoY Change -37.62% -37.62%
Total Long-Term Liabilities $2.248M $2.248M
YoY Change -92.76% -92.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.37M $15.37M
Total Long-Term Liabilities $2.248M $2.248M
Total Liabilities $17.62M $17.62M
YoY Change -61.82% -61.82%
SHAREHOLDERS EQUITY
Retained Earnings -$381.0M
YoY Change 15.66%
Common Stock $380.5M
YoY Change 1.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $123.0K $123.0K
YoY Change
Total Liabilities & Shareholders Equity $17.74M $17.74M
YoY Change -80.8% -80.8%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$8.616M -$51.60M
YoY Change -56.12% -33.44%
Depreciation, Depletion And Amortization $284.0K $1.900M
YoY Change -60.99% -29.63%
Cash From Operating Activities -$7.254M -$49.48M
YoY Change -52.55% -23.96%
INVESTING ACTIVITIES
Capital Expenditures $30.00K $64.00K
YoY Change -68.42% -97.64%
Acquisitions
YoY Change
Other Investing Activities $0.00 $5.950M
YoY Change -100.0% -2600.0%
Cash From Investing Activities -$30.00K $5.886M
YoY Change -92.86% -299.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.956M -26.08M
YoY Change 395500.0% -176.58%
NET CHANGE
Cash From Operating Activities -7.254M -49.48M
Cash From Investing Activities -30.00K 5.886M
Cash From Financing Activities 3.956M -26.08M
Net Change In Cash -3.328M -69.67M
YoY Change -78.81% 105.15%
FREE CASH FLOW
Cash From Operating Activities -$7.254M -$49.48M
Capital Expenditures $30.00K $64.00K
Free Cash Flow -$7.284M -$49.54M
YoY Change -52.65% -26.91%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of 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. Actual results could differ from those estimates.</p>
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CY2023Q1 us-gaap Stock Issued During Period Shares Issued For Services
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CY2023Q4 us-gaap Accounts Payable Current
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6833000
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CY2023Q2 us-gaap Net Rentable Area
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CY2023Q2 us-gaap Net Rentable Area
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CY2023Q2 mbio Increase Decrease In Right Of Use Lease Liability
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200000
CY2017Q4 us-gaap Net Rentable Area
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27043
CY2017Q4 mbio Lessee Operating Lease Total Abatements Over Lease Term
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600000
CY2017Q4 mbio Lessee Operating Lease Total Base Rent Net Of Abatements
LesseeOperatingLeaseTotalBaseRentNetOfAbatements
3600000
CY2017Q4 us-gaap Security Deposit
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800000
CY2017Q4 mbio Lessee Security Deposit Upon Full Occupancy
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3900000
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1053000
CY2023 us-gaap Operating Lease Payments
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529000
CY2022 us-gaap Operating Lease Payments
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220000
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P4Y6M
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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774000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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303000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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3046000
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CY2023 us-gaap Interest Expense Other
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CY2022 us-gaap Interest Expense Other
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2899000
CY2023 mbio Interest Expense Amortization Of Debt Discount
InterestExpenseAmortizationOfDebtDiscount
118000
CY2022 mbio Interest Expense Amortization Of Debt Discount
InterestExpenseAmortizationOfDebtDiscount
445000
CY2023 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
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CY2022 us-gaap Other Nonoperating Expense
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3359000
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200000000
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CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2023Q4 mbio Sale Of Stock Aggregate Offering Price Permitted By Agreement
SaleOfStockAggregateOfferingPricePermittedByAgreement
4400000
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
568000
CY2022 us-gaap Share Based Compensation
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CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
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220577
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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120.30
CY2021 mbio Class Of Warrant Or Right Weighted Average Remaining Contractual Life
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ClassOfWarrantOrRightWarrantsExpiredDuringPeriod
200251
CY2022 mbio Warrant Exercise Price Expired During Period
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127.49
CY2022 mbio Class Of Warrant Or Right Warrants Granted During Period
ClassOfWarrantOrRightWarrantsGrantedDuringPeriod
49869
CY2022 mbio Class Of Warrant Or Right Weighted Average Exercise Price Grants During Period
ClassOfWarrantOrRightWeightedAverageExercisePriceGrantsDuringPeriod
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ClassOfWarrantOrRightWarrantsGrantedDuringPeriod
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CY2023 mbio Class Of Warrant Or Right Weighted Average Exercise Price Grants During Period
ClassOfWarrantOrRightWeightedAverageExercisePriceGrantsDuringPeriod
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CY2023 mbio Class Of Warrant Or Right Weighted Average Remaining Contractual Life
ClassOfWarrantOrRightWeightedAverageRemainingContractualLife
P5Y3M14D
CY2023 mbio Employee Stock Purchase Plan Predetermined Offering Period Lower Fair Market Value Percentage
EmployeeStockPurchasePlanPredeterminedOfferingPeriodLowerFairMarketValuePercentage
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CY2023 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
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CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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380089
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.16
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.16
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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0
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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0.05
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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0
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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0
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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84651000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
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1946000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
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CY2023Q4 us-gaap Deferred Tax Assets Derivative Instruments
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59000
CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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11856000
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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13375000
CY2023Q4 mbio Deferred Tax Asset Operating Lease Liabilities
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929000
CY2022Q4 mbio Deferred Tax Asset Operating Lease Liabilities
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1466000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
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1841000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
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1434000
CY2023Q4 mbio Deferred Tax Assets Start Up Costs
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5000
CY2022Q4 mbio Deferred Tax Assets Start Up Costs
DeferredTaxAssetsStartUpCosts
6000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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18189000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
15649000
CY2023Q4 mbio Deferred Tax Assets Capitalization Of Research And Development Expenses
DeferredTaxAssetsCapitalizationOfResearchAndDevelopmentExpenses
28800000
CY2022Q4 mbio Deferred Tax Assets Capitalization Of Research And Development Expenses
DeferredTaxAssetsCapitalizationOfResearchAndDevelopmentExpenses
19787000
CY2023Q4 us-gaap Deferred Tax Assets Gross
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148276000
CY2022Q4 us-gaap Deferred Tax Assets Gross
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129186000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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147694000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Deferred Tax Assets Net
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582000
CY2022Q4 us-gaap Deferred Tax Assets Net
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1085000
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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582000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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1085000
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
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0
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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0
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Income Tax Examination Penalties And Interest Expense
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0
CY2023 us-gaap Income Tax Examination Penalties And Interest Expense
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0
CY2023Q4 mbio Deferred Tax Assets Capitalization Of Research And Development Expenses
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28800000

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