2014 Q4 Form 10-Q Financial Statement

#000114420414065859 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $4.666K $5.000K $2.500K
YoY Change 86.64% 100.0% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.000M $1.970M $1.070M
YoY Change 86.92% 15.2% 9.18%
% of Gross Profit
Research & Development $2.560M $2.110M $1.630M
YoY Change 57.06% 14.21% -4.12%
% of Gross Profit
Depreciation & Amortization $90.00K $80.00K $60.00K
YoY Change 50.0% 0.0% 20.0%
% of Gross Profit
Operating Expenses $4.640M $4.112M $2.770M
YoY Change 67.51% 13.07% 1.47%
Operating Profit -$4.641M -$4.107M -$2.763M
YoY Change 67.99% 13.01% 1.31%
Interest Expense -$420.0K $361.6K -$540.0K
YoY Change -22.22% -19.45% -5500.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$348.5K $0.00
YoY Change -88.59%
Pretax Income -$5.500M -$4.460M -$3.300M
YoY Change 66.67% -33.33% 21.77%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.503M -$4.455M -$3.303M
YoY Change 66.6% -33.37% 21.67%
Net Earnings / Revenue -117941.88% -89104.74% -132127.52%
Basic Earnings Per Share
Diluted Earnings Per Share -$91.67M -$74.33M -$66.00M
COMMON SHARES
Basic Shares Outstanding 87.36M shares 86.84M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.53M $26.95M $16.85M
YoY Change 63.38% 64.33% 126.48%
Cash & Equivalents $12.52M $11.95M $16.85M
Short-Term Investments $15.01M $15.01M
Other Short-Term Assets $410.0K $750.0K $770.0K
YoY Change -46.75% -18.48% 266.67%
Inventory
Prepaid Expenses $274.1K $409.1K $255.7K
Receivables $225.5K $32.76K $10.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $28.16M $27.73M $17.62M
YoY Change 59.84% 60.05% 130.23%
LONG-TERM ASSETS
Property, Plant & Equipment $301.3K $301.3K $231.0K
YoY Change 30.43% 18.82% 0.25%
Goodwill
YoY Change
Intangibles $1.233M $1.246M $1.138M
YoY Change 8.39% 18.85% 40.92%
Long-Term Investments
YoY Change
Other Assets $58.71K $57.72K $64.90K
YoY Change -9.53% -11.01% 8.95%
Total Long-Term Assets $1.682M $1.709M $1.794M
YoY Change -6.25% -6.98% 63.53%
TOTAL ASSETS
Total Short-Term Assets $28.16M $27.73M $17.62M
Total Long-Term Assets $1.682M $1.709M $1.794M
Total Assets $29.84M $29.44M $19.41M
YoY Change 53.73% 53.62% 121.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.500M $2.440M $1.200M
YoY Change 108.33% 101.65% 0.0%
Accrued Expenses $650.0K $470.0K
YoY Change 38.3% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $730.0K $3.058M $2.763M
YoY Change -73.58% 53.99%
Total Short-Term Liabilities $4.009M $5.705M $5.936M
YoY Change -32.47% 10.82% 237.99%
LONG-TERM LIABILITIES
Long-Term Debt $8.056M $2.611M $4.934M
YoY Change 63.28% -53.87%
Other Long-Term Liabilities $60.00K $220.0K $130.0K
YoY Change -53.85% 144.44% 550.0%
Total Long-Term Liabilities $8.056M $2.611M $4.934M
YoY Change 63.28% -53.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.009M $5.705M $5.936M
Total Long-Term Liabilities $8.056M $2.611M $4.934M
Total Liabilities $12.12M $8.539M $11.00M
YoY Change 10.27% -21.65% 518.6%
SHAREHOLDERS EQUITY
Retained Earnings -$151.1M -$145.6M -$128.4M
YoY Change 17.62% 16.33% 18.26%
Common Stock $877.9K $871.6K $778.9K
YoY Change 12.72% 13.69% 14.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.72M $20.90M $8.418M
YoY Change
Total Liabilities & Shareholders Equity $29.84M $29.44M $19.41M
YoY Change 53.73% 53.62% 121.87%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income -$5.503M -$4.455M -$3.303M
YoY Change 66.6% -33.37% 21.67%
Depreciation, Depletion And Amortization $90.00K $80.00K $60.00K
YoY Change 50.0% 0.0% 20.0%
Cash From Operating Activities -$3.480M -$3.110M -$2.470M
YoY Change 40.89% 38.22% -1.98%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$90.00K -$100.0K
YoY Change -20.0% -55.0% 66.67%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$10.00K
YoY Change
Cash From Investing Activities -$70.00K -$100.0K -$100.0K
YoY Change -30.0% -50.0% 66.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.130M -90.00K 3.010M
YoY Change 37.21% -101.17% 1906.67%
NET CHANGE
Cash From Operating Activities -3.480M -3.110M -2.470M
Cash From Investing Activities -70.00K -100.0K -100.0K
Cash From Financing Activities 4.130M -90.00K 3.010M
Net Change In Cash 580.0K -3.300M 440.0K
YoY Change 31.82% -163.1% -118.11%
FREE CASH FLOW
Cash From Operating Activities -$3.480M -$3.110M -$2.470M
Capital Expenditures -$80.00K -$90.00K -$100.0K
Free Cash Flow -$3.400M -$3.020M -$2.370M
YoY Change 43.46% 47.32% -3.66%

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NonoperatingIncomeExpense
-348492 USD
us-gaap Net Income Loss
NetIncomeLoss
-16528674 USD
us-gaap Net Income Loss
NetIncomeLoss
-17125576 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-6686957 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-4455237 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.23
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.20
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.05
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
70533035 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
86777197 shares
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
72986698 shares
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
87366234 shares
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
6101 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
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CY2013Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
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CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
3 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-16522573 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-17126707 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-6680856 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-4455234 USD
us-gaap Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
462794 USD
us-gaap Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
622244 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4167 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
22761 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-38849 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-56221 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
5172 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-7131 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-191686 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-18541 USD
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
3191 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-8651 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-9261 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-8115679 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-8226336 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
25007478 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
325783 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
308136 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
118938 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
172171 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-444721 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-15487785 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
5836346 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
1661865 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
133000 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
4241640 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
19467859 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
7551329 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
cur Payment Of Employee Taxes On Stock Option Exercise
PaymentOfEmployeeTaxesOnStockOptionExercise
0 USD
cur Payment Of Employee Taxes On Stock Option Exercise
PaymentOfEmployeeTaxesOnStockOptionExercise
426212 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1917353 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
81362 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
104957 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
35000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
17512953 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
18814202 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
5402 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-880 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
8957955 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4900799 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7443773 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16401728 USD
us-gaap Interest Paid
InterestPaid
399960 USD
us-gaap Interest Paid
InterestPaid
573869 USD
cur Issuance Of Warrants For Vendor Services
IssuanceOfWarrantsForVendorServices
658326 USD
cur Issuance Of Warrants For Vendor Services
IssuanceOfWarrantsForVendorServices
0 USD
cur Issuance Of Common Stock For Cashless Excercise Of Warrants
IssuanceOfCommonStockForCashlessExcerciseOfWarrants
587500 USD
cur Issuance Of Common Stock For Cashless Excercise Of Warrants
IssuanceOfCommonStockForCashlessExcerciseOfWarrants
838213 USD
cur Issuance Of Common Stock For Cash Less Excercise Of Option
IssuanceOfCommonStockForCashLessExcerciseOfOption
0 USD
cur Issuance Of Common Stock For Cash Less Excercise Of Option
IssuanceOfCommonStockForCashLessExcerciseOfOption
369867 USD
cur Issuance Of Common Stock Related To Debt Issuance Fees
IssuanceOfCommonStockRelatedToDebtIssuanceFees
396234 USD
cur Issuance Of Common Stock Related To Debt Issuance Fees
IssuanceOfCommonStockRelatedToDebtIssuanceFees
0 USD
cur Issuance Of Warrants For Fees Related To Debt Issuance
IssuanceOfWarrantsForFeesRelatedToDebtIssuance
452187 USD
cur Issuance Of Warrants For Fees Related To Debt Issuance
IssuanceOfWarrantsForFeesRelatedToDebtIssuance
0 USD
dei Entity Registrant Name
EntityRegistrantName
Neuralstem, Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0001357459
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
CUR
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
87359665 shares
cur Financing Of Insurance Premiums Through Note Payable
FinancingOfInsurancePremiumsThroughNotePayable
183472 USD
cur Financing Of Insurance Premiums Through Note Payable
FinancingOfInsurancePremiumsThroughNotePayable
210722 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
10000000 USD
CY2014Q3 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
249000 USD
CY2014Q3 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
200371 shares
CY2014Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3

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