$RENB
RENOVARO INC.

2023 Q3 Form 10-K Financial Statement

#000173112223001770 Filed on October 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.290M $2.950M $15.32M
YoY Change 81.92% -6.65% 6.91%
% of Gross Profit
Research & Development $566.6K $990.0K $4.165M
YoY Change -78.25% -44.0% -50.25%
% of Gross Profit
Depreciation & Amortization $27.26K $20.00K $113.5K
YoY Change -4.02% -29.4% -8.17%
% of Gross Profit
Operating Expenses $8.884M $3.970M $38.56M
YoY Change 23.55% -19.9% -66.78%
Operating Profit -$8.884M -$38.56M
YoY Change 23.55% -66.78%
Interest Expense -$170.0K -$260.0K -$710.0K
YoY Change -277.85% -5715.55% -290.43%
% of Operating Profit
Other Income/Expense, Net -$290.9K $0.00 -$1.127M
YoY Change -42.86% -100.0% -142.6%
Pretax Income -$9.175M -$23.20M -$39.68M
YoY Change 19.16% -74.29% -65.02%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$9.175M -$23.20M -$39.68M
YoY Change 19.16% -74.29% -65.02%
Net Earnings / Revenue
Basic Earnings Per Share -$0.14 -$0.71
Diluted Earnings Per Share -$0.14 -$0.40 -$0.71
COMMON SHARES
Basic Shares Outstanding 65.70M shares 58.28M shares 56.27M shares
Diluted Shares Outstanding 64.48M shares 56.27M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $500.0K $1.900M $1.900M
YoY Change -93.73% -79.29% -79.29%
Cash & Equivalents $523.5K $1.874M
Short-Term Investments
Other Short-Term Assets $300.0K $700.0K $700.0K
YoY Change 86.76% 78.12% 78.12%
Inventory
Prepaid Expenses
Receivables $1.100M
Other Receivables $0.00
Total Short-Term Assets $1.906M $2.565M $2.600M
YoY Change -76.56% -73.18% -72.82%
LONG-TERM ASSETS
Property, Plant & Equipment $482.5K $509.0K $1.400M
YoY Change -13.78% -13.22% -19.71%
Goodwill $11.64M $11.64M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $55.17M $55.23M $0.00
YoY Change -25.82% -25.85% -100.0%
Total Long-Term Assets $55.66M $55.74M $55.70M
YoY Change -25.73% -25.75% -25.8%
TOTAL ASSETS
Total Short-Term Assets $1.906M $2.565M $2.600M
Total Long-Term Assets $55.66M $55.74M $55.70M
Total Assets $57.56M $58.30M $58.30M
YoY Change -30.71% -31.11% -31.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.400M $5.300M $5.300M
YoY Change 15.32% 278.07% 278.07%
Accrued Expenses $797.8K $723.2K $900.0K
YoY Change -23.46% -29.89% -29.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.700M $4.600M $4.600M
YoY Change 208.33% 283.33% 283.33%
Total Short-Term Liabilities $10.10M $11.02M $11.00M
YoY Change 41.02% 70.88% 70.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities $700.0K $184.7K $800.0K
YoY Change -25.12% 10.87% -18.84%
Total Long-Term Liabilities $720.8K $775.6K $800.0K
YoY Change -87.1% -86.06% -85.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.10M $11.02M $11.00M
Total Long-Term Liabilities $720.8K $775.6K $800.0K
Total Liabilities $10.82M $11.80M $11.80M
YoY Change -15.14% -1.79% -1.78%
SHAREHOLDERS EQUITY
Retained Earnings -$253.2M -$244.0M
YoY Change 19.41% 19.42%
Common Stock $6.571K $6.371K
YoY Change 18.35% 20.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $46.75M $46.50M $46.50M
YoY Change
Total Liabilities & Shareholders Equity $57.56M $58.30M $58.30M
YoY Change -30.71% -31.11% -31.11%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income -$9.175M -$23.20M -$39.68M
YoY Change 19.16% -74.29% -65.02%
Depreciation, Depletion And Amortization $27.26K $20.00K $113.5K
YoY Change -4.02% -29.4% -8.17%
Cash From Operating Activities -$2.777M -$2.260M -$11.77M
YoY Change -1.53% -25.91% -25.16%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $29.77K
YoY Change 477.46%
Acquisitions
YoY Change
Other Investing Activities -$1.060M
YoY Change
Cash From Investing Activities -$1.058M -$10.00K -$29.77K
YoY Change 477.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $2.563M 1.250M $4.515M
YoY Change 57.71% 16.8% 6.23%
NET CHANGE
Cash From Operating Activities -$2.777M -2.260M -$11.77M
Cash From Investing Activities -$1.058M -10.00K -$29.77K
Cash From Financing Activities $2.563M 1.250M $4.515M
Net Change In Cash -$1.351M -1.020M -$7.298M
YoY Change 12.56% -48.49% -36.5%
FREE CASH FLOW
Cash From Operating Activities -$2.777M -$2.260M -$11.77M
Capital Expenditures $10.00K $29.77K
Free Cash Flow -$2.270M -$11.80M
YoY Change -25.59% -24.99%

Facts In Submission

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CY2023Q2 RENB Escrow Shares Remaining
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CY2023 us-gaap Use Of Estimates
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<p id="xdx_846_eus-gaap--UseOfEstimates_zYpAkMMYMvTj" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 1.27cm; margin-right: 0pt; margin-left: 0pt"><b><span id="xdx_868_zbGJzwUXDUVb">Use of Accounting Estimates</span> </b>- The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimated. Significant estimates include the fair value and potential impairment of intangible assets, the fair value of the contingent consideration liability, and the fair value of equity instruments issued. </p>
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CY2023Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2017Q4 us-gaap Lessee Operating Lease Description
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On November 13, 2017, Renovaro entered into a lease agreement for a term of five years and two months from November 1, 2017 with Plaza Medical Office Building, LLC, pursuant to which Renovaro agreed to lease approximately 2,325 rentable square feet (the “Plaza Lease”). The base rent for the Plaza Lease increased by 3% each year, and ranged from approximately $8,719 per month, for the first year to $10,107 per month for the two months of the sixth year. The lease was terminated early without penalties or additional costs as of September 30, 2022, that released an accrual of $70,800 related to leasehold improvements that was not utilized.
CY2018Q2 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
On June 19, 2018, Renovaro entered into a lease agreement for a term of ten years from September 1, 2018 with Century City Medical Plaza Land Co., Inc., pursuant to which the Company agreed to lease approximately 2,453 rentable square feet. On February 20, 2019, the Registrant entered into an Addendum to the original lease agreement with an effective date of December 1, 2019, where it expanded the leased area to include another 1,101 square feet for a total rentable 3,554 square feet. The base rent increases by 3% each year, and ranges from $17,770 per month as of the date of the amendment to $23,186 per month for the tenth year. The equalized monthly lease payment for the term of the lease is $20,050.
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q2 us-gaap Lessee Finance Sublease Residual Value Guarantee Description
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On June 20, 2022, the Company entered into a sublease agreement with One Health Labs (the “Subtenant”), whereby the Subtenant agreed to lease 3,554 square feet of space currently rented by the Company in Century City Medical Plaza as of June 25, 2022 for a period of 3.5 years with an option to renew for the remaining term of the lease that ends as of June 19, 2028. The base rent was $17,770 per month plus $750 towards utility fees that are part of the original lease agreement would have increased by 3% each year over the term of the sublease. The Company received a total of $57,022 on July 1, 2022 after execution of the sublease to cover the first month rent, utility fee and deposit. The first sublease payment began on August 1, 2022.
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300000 usd
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Files In Submission

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