2023 Q4 Form 10-Q Financial Statement

#000149315223040980 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $324.0K $401.0K $471.5K
YoY Change -39.22% -14.96% 7.29%
% of Gross Profit
Research & Development $114.0K $16.24K $101.3K
YoY Change 52.28% -83.97% 117.67%
% of Gross Profit
Depreciation & Amortization $114.00 $134.00 $473.00
YoY Change -72.99% -71.67% -7.25%
% of Gross Profit
Operating Expenses $438.1K $417.2K $572.8K
YoY Change -27.95% -27.17% 17.86%
Operating Profit -$438.1K -$417.2K -$572.8K
YoY Change -27.95% -27.17% 17.86%
Interest Expense $264.5K $178.2K $162.8K
YoY Change 168.17% 9.51% -3622.77%
% of Operating Profit
Other Income/Expense, Net -$274.9K $66.35K -$44.47K
YoY Change 3982.26% -249.23% 860.78%
Pretax Income -$713.0K -$350.9K -$617.3K
YoY Change 15.98% -43.16% 25.81%
Income Tax -$128.6K
% Of Pretax Income
Net Earnings -$584.4K -$350.9K -$617.3K
YoY Change 20.39% -43.16% 25.81%
Net Earnings / Revenue
Basic Earnings Per Share -$0.03 -$0.04 $0.00
Diluted Earnings Per Share -$0.03 -$0.04 -$1.303K
COMMON SHARES
Basic Shares Outstanding 22.26M shares 14.83M shares 677.2M shares
Diluted Shares Outstanding 23.81M shares 10.99M shares 473.6K shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.65K $6.630K $19.40K
YoY Change 192.69% -65.82% -57.66%
Cash & Equivalents $71.65K $6.625K $19.40K
Short-Term Investments
Other Short-Term Assets $135.3K $136.6K $15.77K
YoY Change 436.57% 765.88% 88.86%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $210.8K $145.8K $37.86K
YoY Change 288.79% 285.09% -32.88%
LONG-TERM ASSETS
Property, Plant & Equipment $50.00 $160.00 $1.437K
YoY Change -95.38% -88.87% -59.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.040K $1.930K $1.930K
YoY Change 0.0% 0.0% -10.65%
Total Long-Term Assets $31.08K $34.57K $56.39K
YoY Change -42.22% -38.7% 879.03%
TOTAL ASSETS
Total Short-Term Assets $210.8K $145.8K $37.86K
Total Long-Term Assets $31.08K $34.57K $56.39K
Total Assets $241.9K $180.4K $94.25K
YoY Change 123.94% 91.37% 51.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.158M $1.081M $899.2K
YoY Change 26.59% 20.25% 8.84%
Accrued Expenses $1.337M $1.215M $860.4K
YoY Change 15.7% 41.22% 5.65%
Deferred Revenue
YoY Change
Short-Term Debt $951.8K $636.3K $961.2K
YoY Change 15.82% -33.81% 50.67%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.762M $3.133M $2.822M
YoY Change 25.72% 11.01% 19.15%
LONG-TERM LIABILITIES
Long-Term Debt $35.21K $23.37K $0.00
YoY Change
Other Long-Term Liabilities $8.040K $13.15K $39.36K
YoY Change -73.97% -66.59%
Total Long-Term Liabilities $43.26K $36.52K $39.36K
YoY Change 40.05% -7.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.762M $3.133M $2.822M
Total Long-Term Liabilities $43.26K $36.52K $39.36K
Total Liabilities $3.806M $3.170M $2.862M
YoY Change 25.87% 10.76% 20.81%
SHAREHOLDERS EQUITY
Retained Earnings -$65.80M -$65.18M -$62.56M
YoY Change 4.33% 4.18%
Common Stock $36.17K $14.83K $677.2K
YoY Change -97.1% -97.81%
Preferred Stock
YoY Change
Treasury Stock (at cost) $46.48K $46.48K $46.48K
YoY Change 0.0% 0.0%
Treasury Stock Shares 1.000 shares
Shareholders Equity -$3.564M -$2.989M -$2.768M
YoY Change
Total Liabilities & Shareholders Equity $241.9K $180.4K $94.25K
YoY Change 123.94% 91.37% 51.61%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$584.4K -$350.9K -$617.3K
YoY Change 20.39% -43.16% 25.81%
Depreciation, Depletion And Amortization $114.00 $134.00 $473.00
YoY Change -72.99% -71.67% -7.25%
Cash From Operating Activities -$238.9K -$333.5K -$509.3K
YoY Change 6.07% -34.53% 4.63%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 273.9K $350.3K $494.2K
YoY Change 9.57% -29.11% 13.61%
NET CHANGE
Cash From Operating Activities -238.9K -$333.5K -$509.3K
Cash From Investing Activities
Cash From Financing Activities 273.9K $350.3K $494.2K
Net Change In Cash 35.05K -$3.422K $15.33K
YoY Change 41.44% -122.32% -129.62%
FREE CASH FLOW
Cash From Operating Activities -$238.9K -$333.5K -$509.3K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_845_eus-gaap--UseOfEstimates_zvV3yvly14n" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_869_z2GydP8dOeJg">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with US 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements include the estimates of useful lives for depreciation, valuation of the operating lease liability and related right-of-use asset, valuation of derivatives, allowance for uncollectable receivables, valuation of equity based instruments issued for other than cash, the valuation allowance on deferred tax assets and foreign currency translation due to certain average exchange rates applied in lieu of spot rates on transaction dates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>September 30, 2023</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"></p>
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CY2023Q3 PPCB Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
15003378 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0.059 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4533000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0.059 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4533000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
0.059 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4533000
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M13D
CY2023Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
0 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2023Q3 PPCB Penalty Amount
PenaltyAmount
30000 usd
CY2020Q4 PPCB Royalties Percentage
RoyaltiesPercentage
0.02 pure
CY2023Q3 PPCB Unreimbursed Lab Fees
UnreimbursedLabFees
24446 usd
CY2023Q2 PPCB Unreimbursed Lab Fees
UnreimbursedLabFees
18056 usd
CY2023Q3 us-gaap Royalty Expense
RoyaltyExpense
0 usd
CY2023 us-gaap Royalty Expense
RoyaltyExpense
0 usd
CY2022Q2 PPCB Incremental Borrowing Rate
IncrementalBorrowingRate
0.08 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
17356 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
19284 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2333 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
34307 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M7D
CY2023Q3 us-gaap Payments For Rent
PaymentsForRent
7149 usd
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
6373 usd
CY2022 PPCB Bonus Payable
BonusPayable
144166 aud
CY2022 PPCB Bonus Payable
BonusPayable
99691 usd
CY2023 PPCB Bonus Payable
BonusPayable
73387 aud
CY2023 PPCB Bonus Payable
BonusPayable
48905 usd
CY2023Q3 PPCB Bonus Payable
BonusPayable
25000 aud
CY2023Q3 PPCB Bonus Payable
BonusPayable
16070 usd
CY2023Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
107500 aud
CY2023Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
69101 usd
CY2023Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
96000 aud
CY2023Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
64627 usd
CY2023Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
34500 usd
CY2022Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
33750 usd
CY2023Q3 us-gaap Share Price
SharePrice
0.024
CY2023Q3 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Liability
EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
119069 usd
CY2023Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
119069 usd
CY2023Q2 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Liability
EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
423209 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
423209 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
423209 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
423209 usd
CY2023Q3 us-gaap Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
70000 usd
CY2023Q3 us-gaap Embedded Derivative Loss On Embedded Derivative
EmbeddedDerivativeLossOnEmbeddedDerivative
77721 usd
CY2023Q3 PPCB Reduction Of Derivative Liability Upon Debt Conversion
ReductionOfDerivativeLiabilityUponDebtConversion
-147932 usd
CY2023Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
303929 usd
CY2023Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
119069 usd
CY2023Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
119069 usd

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0001493152-23-040980.txt Edgar Link pending
0001493152-23-040980-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
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ppcb-20230930.xsd Edgar Link pending
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ppcb-20230930_cal.xml Edgar Link unprocessable
ppcb-20230930_def.xml Edgar Link unprocessable
ppcb-20230930_lab.xml Edgar Link unprocessable
ppcb-20230930_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
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