$PALI
PALISADE BIO, INC.

2015 Q4 Form 10-Q Financial Statement

#000114420415063721 Filed on November 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q4
Revenue $2.500K $2.500K $4.666K
YoY Change -46.42% -50.0% 86.64%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.600M $1.810M $2.000M
YoY Change -20.0% -8.12% 86.92%
% of Gross Profit
Research & Development $2.750M $3.392M $2.560M
YoY Change 7.42% 60.77% 57.06%
% of Gross Profit
Depreciation & Amortization $90.00K $90.00K $90.00K
YoY Change 0.0% 12.5% 50.0%
% of Gross Profit
Operating Expenses $4.350M $5.200M $4.640M
YoY Change -6.25% 26.47% 67.51%
Operating Profit -$5.198M -$4.641M
YoY Change 26.56% 67.99%
Interest Expense -$420.0K $464.2K -$420.0K
YoY Change 0.0% 28.37% -22.22%
% of Operating Profit
Other Income/Expense, Net $10.00K -$440.0K $0.00
YoY Change 26.27%
Pretax Income -$4.770M -$5.640M -$5.500M
YoY Change -13.27% 26.46% 66.67%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$4.770M -$5.638M -$5.503M
YoY Change -13.32% 26.54% 66.6%
Net Earnings / Revenue -190800.0% -225502.72% -117941.88%
Basic Earnings Per Share
Diluted Earnings Per Share -$79.50M -$94.00M -$91.67M
COMMON SHARES
Basic Shares Outstanding 91.79M shares 91.79M shares 87.36M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.23M $18.15M $27.53M
YoY Change -55.58% -32.65% 63.38%
Cash & Equivalents $4.717M $13.13M $12.52M
Short-Term Investments $7.520M $5.020M $15.01M
Other Short-Term Assets $1.160M $1.400M $410.0K
YoY Change 182.93% 86.67% -46.75%
Inventory
Prepaid Expenses $1.160M $1.289M $274.1K
Receivables $37.32K $19.16K $225.5K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $13.43M $19.56M $28.16M
YoY Change -52.31% -29.46% 59.84%
LONG-TERM ASSETS
Property, Plant & Equipment $343.2K $335.9K $301.3K
YoY Change 13.92% 11.48% 30.43%
Goodwill
YoY Change
Intangibles $1.103M $1.147M $1.233M
YoY Change -10.52% -7.9% 8.39%
Long-Term Investments
YoY Change
Other Assets $71.80K $72.16K $58.71K
YoY Change 22.28% 25.02% -9.53%
Total Long-Term Assets $1.518M $1.578M $1.682M
YoY Change -9.74% -7.66% -6.25%
TOTAL ASSETS
Total Short-Term Assets $13.43M $19.56M $28.16M
Total Long-Term Assets $1.518M $1.578M $1.682M
Total Assets $14.95M $21.14M $29.84M
YoY Change -49.91% -28.2% 53.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.460M $2.040M $2.500M
YoY Change -41.6% -16.39% 108.33%
Accrued Expenses $160.0K $770.0K $650.0K
YoY Change -75.38% 38.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.545M $4.458M $730.0K
YoY Change 522.62% 45.75% -73.58%
Total Short-Term Liabilities $6.425M $7.470M $4.009M
YoY Change 60.29% 30.94% -32.47%
LONG-TERM LIABILITIES
Long-Term Debt $3.383M $4.625M $8.056M
YoY Change -58.01% 77.12% 63.28%
Other Long-Term Liabilities $170.0K $140.0K $60.00K
YoY Change 183.33% -36.36% -53.85%
Total Long-Term Liabilities $3.383M $4.625M $8.056M
YoY Change -58.01% 77.12% 63.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.425M $7.470M $4.009M
Total Long-Term Liabilities $3.383M $4.625M $8.056M
Total Liabilities $9.982M $12.24M $12.12M
YoY Change -17.67% 43.32% 10.27%
SHAREHOLDERS EQUITY
Retained Earnings -$172.0M -$167.2M -$151.1M
YoY Change 13.84% 14.87% 17.62%
Common Stock $70.77K $917.9K $877.9K
YoY Change -91.94% 5.31% 12.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.967M $8.903M $17.72M
YoY Change
Total Liabilities & Shareholders Equity $14.95M $21.14M $29.84M
YoY Change -49.91% -28.2% 53.73%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income -$4.770M -$5.638M -$5.503M
YoY Change -13.32% 26.54% 66.6%
Depreciation, Depletion And Amortization $90.00K $90.00K $90.00K
YoY Change 0.0% 12.5% 50.0%
Cash From Operating Activities -$3.900M -$5.510M -$3.480M
YoY Change 12.07% 77.17% 40.89%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K -$20.00K -$80.00K
YoY Change -37.5% -77.78% -20.0%
Acquisitions
YoY Change
Other Investing Activities -$2.500M $10.01M $0.00
YoY Change -100200.0%
Cash From Investing Activities -$2.550M $9.990M -$70.00K
YoY Change 3542.86% -10090.0% -30.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.960M 0.000 4.130M
YoY Change -147.46% -100.0% 37.21%
NET CHANGE
Cash From Operating Activities -3.900M -5.510M -3.480M
Cash From Investing Activities -2.550M 9.990M -70.00K
Cash From Financing Activities -1.960M 0.000 4.130M
Net Change In Cash -8.410M 4.480M 580.0K
YoY Change -1550.0% -235.76% 31.82%
FREE CASH FLOW
Cash From Operating Activities -$3.900M -$5.510M -$3.480M
Capital Expenditures -$50.00K -$20.00K -$80.00K
Free Cash Flow -$3.850M -$5.490M -$3.400M
YoY Change 13.24% 81.79% 43.46%

Facts In Submission

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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3638972 USD
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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37300000 shares
CY2014Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2015Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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1.89
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.93
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
4060000 USD
cur Compensation Expenses Unvested Restricted Stock Term Period
CompensationExpensesUnvestedRestrictedStockTermPeriod
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CY2014Q1 cur Warrants Issued During Period
WarrantsIssuedDuringPeriod
6872859 shares
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
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20000000 USD
CY2014Q1 cur Warrants And Shares Issued Value Net
WarrantsAndSharesIssuedValueNet
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dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2015-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
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
CY2014Q4 us-gaap Preferred Stock Shares Authorized
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USD
CY2015Q3 us-gaap Preferred Stock Shares Authorized
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dei Trading Symbol
TradingSymbol
CUR
CY2015Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
91786290 shares
CY2015Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
CY2015Q3 us-gaap Common Stock Shares Authorized
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CY2014Q4 us-gaap Common Stock Shares Authorized
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CY2015Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="BACKGROUND-COLOR: transparent"><u>Use of Estimates</u></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="BACKGROUND-COLOR: transparent"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="BACKGROUND-COLOR: transparent">The preparation of financial statements in accordance with U.S. 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 revenues and expenses during the reporting period. The unaudited&#160;condensed consolidated financial statements include significant estimates for the expected economic life and value of our owned and licensed technology, our net operating loss and related valuation allowance for tax purposes and our stock-based compensation related to employees and directors, consultants and investment banks, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Debt Instrument Convertible Terms Of Conversion Feature
DebtInstrumentConvertibleTermsOfConversionFeature
The loan agreement provided for a conversion feature whereby the lender or the Company could each convert up to a maximum of $1 million in principal payments into common stock of the Company
CY2015Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
17486280 shares
cur Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms
P5Y1M6D
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2016-06-30
CY2014Q4 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2017-04-30
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
37300000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
40100000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2015Q3 cur Warrant Modification Expense
WarrantModificationExpense
0 USD

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