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SEC Filings

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

Item 1.
Financial Statements

 BIOTIME, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)

   
June 30, 2017
(Unaudited)
(Notes 1 and 3)
   
December 31, 2016
(Notes 1 and 3)
 
ASSETS
           
CURRENT ASSETS
           
Cash and cash equivalents
 
$
14,550
   
$
22,088
 
Restricted cash equivalents in escrow
   
5,100
     
-
 
Available for sale securities
   
1,220
     
627
 
Trade accounts and other receivables
   
360
     
646
 
Receivable from affiliates, net (Note 9)
   
2,706
     
511
 
Prepaid expenses and other current assets
   
1,589
     
1,777
 
Total current assets
   
25,525
     
25,649
 
                 
Property, plant and equipment, net
   
5,240
     
5,529
 
Deposits and other long term assets
   
1,014
     
1,149
 
Equity method investment in OncoCyte, at fair value (Note 4)
   
76,306
     
-
 
Equity method investment in Asterias, at fair value (Note 5)
   
77,204
     
100,039
 
Intangible assets, net
   
8,064
     
10,206
 
TOTAL ASSETS
 
$
193,353
   
$
142,572
 
                 
LIABILITIES AND SHAREHOLDERS’ EQUITY
               
CURRENT LIABILITIES
               
Accounts payable and accrued liabilities
 
$
5,130
   
$
7,144
 
Escrow liability
   
5,100
     
-
 
Capital lease liability, current portion
   
-
     
202
 
Promissory notes, current portion
   
124
     
99
 
Related party convertible debt, net of discount
   
2,555
     
833
 
Deferred revenues, current portion
   
621
     
572
 
Total current liabilities
   
13,530
     
8,850
 
                 
LONG-TERM LIABILITIES
               
Deferred revenues, net of current portion
   
154
     
308
 
Deferred rent liabilities, net of current portion
   
79
     
50
 
Lease liability
   
1,301
     
1,386
 
Capital lease liability, net of current and other liabilities
   
-
     
310
 
Related party convertible debt, net of discount
   
-
     
1,032
 
Promissory notes, net of current portion
   
95
     
120
 
Other long term liabilities
   
9
     
8
 
TOTAL LIABILITIES
   
15,168
     
12,064
 
                 
Commitments and contingencies (Note 13)
               
                 
SHAREHOLDERS’ EQUITY
               
Preferred shares, no par value, authorized 2,000 shares; none issued and outstanding as of June 30, 2017 and December 31, 2016
   
-
     
-
 
Common shares, no par value, 150,000 shares authorized (Note 10); 110,876 shares issued and outstanding and 103,396 shares issued and 102,776 shares outstanding as of June 30, 2017 and December 31, 2016, respectively
   
334,538
     
317,878
 
Accumulated other comprehensive income (loss)
   
271
     
(738
)
Accumulated deficit
   
(158,684
)
   
(196,321
)
Treasury stock at cost: no shares as of June 30, 2017; 620 shares as of December 31, 2016
   
-
     
(2,891
)
BioTime, Inc. shareholders’ equity
   
176,125
     
117,928
 
Non-controlling interest
   
2,060
     
12,580
 
Total shareholders’ equity
   
178,185
     
130,508
 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
 
$
193,353
   
$
142,572
 

See accompanying notes to the condensed consolidated interim financial statements.

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