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SEC Filings

10-Q
BIOTIME INC filed this Form 10-Q on 05/10/2018
Entire Document
 
 

 

Item 1. Financial Statements

 

BIOTIME, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(IN THOUSANDS)

 

  

March 31, 2018

(Unaudited)

  

December 31, 2017

 
ASSETS          
CURRENT ASSETS          
Cash and cash equivalents  $29,827   $36,838 
Marketable equity securities   1,552    1,337 
Trade accounts and grants receivable, net   916    780 
Receivable from affiliates, net (Note 9)   2,082    2,266 
Prepaid expenses and other current assets   1,749    1,402 
Total current assets   36,126    42,623 
           
Property, plant and equipment, net   5,366    5,533 
Deposits and other long-term assets   236    1,018 
Equity method investment in OncoCyte, at fair value (Note 4)   30,816    68,235 
Equity method investment in Asterias, at fair value (Note 5)   31,534    48,932 
Intangible assets, net   6,317    6,900 
TOTAL ASSETS  $110,395   $173,241 
           
LIABILITIES AND SHAREHOLDERS’ EQUITY          
CURRENT LIABILITIES          
Accounts payable and accrued liabilities  $4,703   $5,718 
Capital lease and lease liabilities, current portion   222    212 
Promissory notes, current portion   120    152 
Deferred license and subscription revenues   563    488 
Deferred grant revenues   202    309 
Total current liabilities   5,810    6,879 
           
LONG-TERM LIABILITIES          
Deferred rent liabilities, net of current portion   114    105 
Lease liability, net of current portion   968    1,019 
Capital lease, net of current portion and other liabilities   122    132 
Promissory notes, net of current portion   -    18 
Liability classified warrants and other long-term liabilities   926    825 
TOTAL LIABILITIES   7,940    8,978 
           
Commitments and contingencies (Note 13)          
           
SHAREHOLDERS’ EQUITY          
Preferred shares, no par value, authorized 2,000 shares; none issued and outstanding as of March 31, 2018 and December 31, 2017   -    - 
Common shares, no par value, 150,000 shares authorized (Note 14); 126,869 shares issued and outstanding as of March 31, 2018 and 126,866 shares issued and outstanding as of December 31, 2017   379,186    378,487 
Accumulated other comprehensive income   198    451 
Accumulated deficit   (279,416)   (216,297)
BioTime, Inc. shareholders’ equity   99,968    162,641 
Noncontrolling interest   2,487    1,622 
Total shareholders’ equity   102,455    164,263 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY  $110,395   $173,241 

 

See accompanying notes to the condensed consolidated interim financial statements.

 

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