2024 Q4 Form 10-K Financial Statement

#000173112224001578 Filed on October 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q2 2024
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.999M
YoY Change 69.45%
% of Gross Profit
Research & Development $434.5K $2.709M
YoY Change -56.11% -34.97%
% of Gross Profit
Depreciation & Amortization $31.13K $121.9K
YoY Change 55.65% 7.37%
% of Gross Profit
Operating Expenses $5.464M $81.64M
YoY Change 37.64% 111.74%
Operating Profit -$81.64M
YoY Change 111.74%
Interest Expense -$1.685M
YoY Change 547.98%
% of Operating Profit
Other Income/Expense, Net $4.241M $989.1K
YoY Change -187.75%
Pretax Income -$15.73M
YoY Change -32.19%
Income Tax
% Of Pretax Income
Net Earnings -$15.73M -$80.65M
YoY Change -32.19% 103.23%
Net Earnings / Revenue
Basic Earnings Per Share -$0.84
Diluted Earnings Per Share -$0.11 -$0.84
COMMON SHARES
Basic Shares Outstanding 156.2M shares 147.5M shares 96.25M shares
Diluted Shares Outstanding 96.25M shares

Balance Sheet

Concept 2024 Q4 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $220.5K $220.5K
YoY Change -88.4% -88.4%
Cash & Equivalents $220.5K
Short-Term Investments
Other Short-Term Assets $668.9K $668.9K
YoY Change -4.44% -4.44%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.998M $1.998M
YoY Change -22.13% -23.17%
LONG-TERM ASSETS
Property, Plant & Equipment $482.1K $1.752M
YoY Change -5.28% 25.13%
Goodwill $159.3M
YoY Change 1268.82%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $160.6M $19.85K
YoY Change 190.89%
Total Long-Term Assets $161.1M $161.1M
YoY Change 189.1% 189.29%
TOTAL ASSETS
Total Short-Term Assets $1.998M $1.998M
Total Long-Term Assets $161.1M $161.1M
Total Assets $163.1M $163.1M
YoY Change 179.81% 179.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.449M $9.449M
YoY Change 78.28% 78.28%
Accrued Expenses $5.311M $5.805M
YoY Change 634.45% 544.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.451M $2.451M
YoY Change -46.72% -46.72%
Total Short-Term Liabilities $30.31M $30.31M
YoY Change 174.97% 175.54%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $231.4K $842.4K
YoY Change 25.25% 5.3%
Total Long-Term Liabilities $842.4K $842.4K
YoY Change 8.61% 5.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.31M $30.31M
Total Long-Term Liabilities $842.4K $842.4K
Total Liabilities $31.15M $31.15M
YoY Change 164.03% 164.0%
SHAREHOLDERS EQUITY
Retained Earnings -$324.7M
YoY Change 33.05%
Common Stock $15.50K
YoY Change 143.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $132.0M $132.0M
YoY Change
Total Liabilities & Shareholders Equity $163.1M $163.1M
YoY Change 179.81% 179.81%

Cashflow Statement

Concept 2024 Q4 2024 Q2 2024
OPERATING ACTIVITIES
Net Income -$15.73M -$80.65M
YoY Change -32.19% 103.23%
Depreciation, Depletion And Amortization $31.13K $121.9K
YoY Change 55.65% 7.37%
Cash From Operating Activities -$2.414M -$10.97M
YoY Change 6.8% -6.82%
INVESTING ACTIVITIES
Capital Expenditures $23.55K $70.43K
YoY Change 135.5% 136.55%
Acquisitions
YoY Change
Other Investing Activities -$29.82K -$1.190M
YoY Change
Cash From Investing Activities -$53.37K -$1.260M
YoY Change 433.7% 4132.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.467M $10.52M
YoY Change 97.34% 132.94%
NET CHANGE
Cash From Operating Activities -2.414M -$10.97M
Cash From Investing Activities -53.37K -$1.260M
Cash From Financing Activities 2.467M $10.52M
Net Change In Cash -430.0 -$1.654M
YoY Change -99.96% -77.34%
FREE CASH FLOW
Cash From Operating Activities -$2.414M -$10.97M
Capital Expenditures $23.55K $70.43K
Free Cash Flow -$2.437M -$11.04M
YoY Change 7.37% -6.46%

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CY2024 us-gaap Use Of Estimates
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<p id="xdx_842_eus-gaap--UseOfEstimates_zUyeFCYi1Mn7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><b><span id="xdx_86B_zKw8wsgRetn9">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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2024 us-gaap Concentration Risk Credit Risk
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<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zXAySCjPuzqb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><b><span id="xdx_866_zivhDldXlM9l">Concentration of Credit Risk</span> –</b> Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in financial institutions, which, at times, exceed the amount of deposit insurance provided within the relevant jurisdiction where the deposits are held. As of June 30, 2024, and June 30, 2023, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"> </p>
CY2024Q2 RENB In Process Research And Development
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CY2023 us-gaap Impairment Of 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, a California limited liability company, as landlord, (the “Landlord”) pursuant to which the Company agreed to lease from the Landlord approximately 2,325 rentable square feet. The base rent 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, Renovaro entered into an Addendum to the original Lease Agreement with an effective date of December 1, 2019, where it expanded the lease 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 for the first year 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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P2Y6M14D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.0514 pure
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CY2022Q2 us-gaap Lessee Finance Sublease Residual Value Guarantee Description
LesseeFinanceSubleaseResidualValueGuaranteeDescription
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 and would increase 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.
CY2023Q2 us-gaap Payments For Leasing Costs
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CY2023Q2 RENB Cash Paid For The Termination Of Lease
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CY2024 RENB Interest Expense Related To Note Balance
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CY2024Q2 us-gaap Other Liabilities Noncurrent
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CY2024Q2 RENB Deferred Tax Asset Excess Tax Over Depreciation Fixed Assets
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CY2024Q2 RENB Deferred Tax Asset Excess Tax Over Depreciation Patents
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CY2024Q2 RENB Stockoptions Compensation
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CY2023Q2 RENB Stockoptions Compensation
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CY2024Q2 RENB Depreciation And Amortizations
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CY2023Q2 RENB Depreciation And Amortizations
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CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2024Q2 RENB Impairment Expense
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CY2023Q2 RENB Impairment Expense
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CY2024Q2 RENB Contingent Consideration Fair Value
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CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
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CY2024Q2 us-gaap Deferred Tax Assets Liabilities Net
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