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SEC Filings

10-Q
BIOTIME INC filed this Form 10-Q on 08/09/2017
Entire Document
 

6.
Property, plant and equipment, net

At June 30, 2017 and December 31, 2016, property, plant and equipment was comprised of the following (in thousands):

   
June 30, 2017
(unaudited) (1)
   
December 31,
2016
 
Equipment, furniture and fixtures
 
$
4,001
   
$
4,718
 
Leasehold improvements
   
4,016
     
3,791
 
Accumulated depreciation and amortization
   
(2,777
)
   
(2,980
)
Property, plant and equipment, net
 
$
5,240
   
$
5,529
 

(1) Reflects the effect of the OncoCyte Deconsolidation.

Depreciation expense, including amortization of leasehold improvements, amounted to $421,000 and $748,000 for the six months ended June 30, 2017 and 2016, respectively.

7.
Intangible assets, net

At June 30, 2017 and December 31, 2016, intangible assets, primarily consisting of acquired patents, and accumulated amortization were as follows (in thousands):

   
June 30, 2017
(unaudited) (1)
   
December 31,
2016
 
Intangible assets
 
$
23,294
   
$
25,703
 
Accumulated amortization
   
(15,230
)
   
(15,497
)
Intangible assets, net
 
$
8,064
   
$
10,206
 

(1) Reflects the effect of the OncoCyte Deconsolidation.

BioTime recognized $1.2 million and $2.3 million in amortization expense of intangible assets, included in research and development expenses, during the six months ended June 30, 2017 and 2016, respectively.

8.
Accounts Payable and Accrued Liabilities

At June 30, 2017 and December 31, 2016, accounts payable and accrued liabilities consisted of the following (in thousands):

   
June 30, 2017
(unaudited) (1)
   
December 31,
2016
 
Accounts payable
 
$
752
   
$
1,593
 
Accrued expenses
   
2,385
     
3,212
 
Accrued compensation
   
1,461
     
1,904
 
Other current liabilities
   
532
     
435
 
Total
 
$
5,130
   
$
7,144
 

(1) Reflects the effect of the OncoCyte Deconsolidation.

9.
Related Party Transactions
 
Related Party Convertible Debt

Cell Cure issued certain convertible promissory notes (the “Convertible Notes”) to Cell Cure shareholders other than BioTime. At June 30, 2017, the carrying value of the Convertible Notes was $2,555,000, comprised of principal and accrued interest of $2,898,000, net of unamortized debt discount of $343,000. As of December 31, 2016, the carrying value of the Convertible Notes was $1,865,000, comprised of principal and accrued interest of $2,544,000, net of unamortized debt discount of $679,000.

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