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SEC Filings

10-K/A
BIOTIME INC filed this Form 10-K/A on 03/29/2017
Entire Document
 

ASTERIAS BIOTHERAPEUTICS, INC.
STATEMENTS OF CASH FLOWS
(IN THOUSANDS)

   
Year Ended December 31,
 
   
2016
   
2015
   
2014
 
CASH FLOWS FROM OPERATING ACTIVITIES:
                 
Net loss
 
$
(35,489
)
 
$
(15,003
)
 
$
(10,097
)
Adjustments to reconcile net loss to net cash used in operating activities:
                       
Depreciation and amortization expense
   
1,176
     
564
     
530
 
Stock-based compensation
   
4,797
     
3,625
     
1,814
 
Amortization of intangible assets
   
2,686
     
2,686
     
4,789
 
Amortization of prepaid rent
   
-
     
85
     
85
 
Deferred income tax benefit
   
(2,325
)
   
(7,252
)
   
(7,376
)
Common stock issued for services in lieu of cash
   
922
     
486
     
-
 
Loss from change in fair value of warrant liability
   
3,108
     
-
     
-
 
Distribution of Asterias warrants to shareholders other than BioTime
   
5,285
     
-
     
-
 
                         
Changes in operating assets and liabilities:
                       
Grant receivable
   
-
     
118
     
(118
)
Prepaid expenses and other current assets
   
(887
)
   
(680
)
   
(182
)
Other assets
   
10
     
(95
)
   
-
 
Accounts payable
   
329
     
(24
)
   
120
 
Accrued expenses
   
1,863
     
584
     
199
 
Deferred rent liability
   
87
     
85
     
94
 
Deferred grant income
   
(328
)
   
2,513
     
-
 
Amount due to BioTime
   
(242
)
   
(85
)
   
(1,449
)
Net cash used in operating activities
   
(19,008
)
   
(12,393
)
   
(11,591
)
                         
CASH FLOWS FROM INVESTING ACTIVITIES:
                       
Purchase of property, plant and equipment, including leasehold improvements
   
(894
)
   
(313
)
   
(115
)
Payments on construction in progress
   
-
     
(4,279
)
   
(219
)
Proceeds from the sale of available-for-sale investments
   
-
     
-
     
12,661
 
Reimbursement (payment) of security deposit, net
   
31
     
(1
)
   
(307
)
Net cash provided by/(used in) investing activities
   
(863
)
   
(4,593
)
   
12,020
 
                         
CASH FLOWS FROM FINANCING ACTIVITIES:
                       
Proceeds from sale of common shares under at-the-market transactions…
   
7,969
     
4,839
     
-
 
Financing costs for at-the-market sales
   
(328
)
   
(157
)
   
-
 
Proceeds from sale of common shares in public offering
   
14,014
     
5,500
     
468
 
Proceeds allocated to warrants classified as liabilities
   
6,009
     
-
     
-
 
Proceeds from exercise of warrants
   
651
     
11,700
     
-
 
Financing costs for sale of common stock in public offering
   
(1,275
)
   
(508
)
   
-
 
Financing costs allocated to warrants classified as liabilities
   
(550
)
   
-
     
-
 
Proceeds from exercises of stock options
   
2,026
     
29
     
8
 
Repayment of lease liability and capital lease obligation
   
(427
)
   
(1
)
   
-
 
Shares retired to pay for employees’ taxes
   
(168
)
   
(98
)
   
-
 
Reimbursement from landlord on construction in progress
   
567
     
3,789
     
-
 
Net cash provided by financing activities
   
28,488
     
25,093
     
476
 
                         
NET INCREASE IN CASH AND CASH EQUIVALENTS
   
8,617
     
8,107
     
905
 
At beginning of year
   
11,183
     
3,076
     
2,171
 
At end of year
 
$
19,800
   
$
11,183
   
$
3,076
 
                         
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING AND INVESTING ACTIVITIES:
                       
OncoCyte common stock received as a dividend in kind from BioTime, net of taxes
 
$
-
   
$
1,117
   
$
-
 
Construction in progress in accounts payable and accrued expenses
 
$
-
   
$
-
   
$
186
 
Landlord receivable
 
$
-
   
$
(189
)
 
$
(378
)
Lease liability
 
$
-
   
$
189
   
$
378
 
Cross-License and Share Transfer with BioTime Inc., net
 
$
415
   
$
-
   
$
-
 
 
The accompanying notes are an integral part of these financial statements.
 
49

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