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SEC Filings

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

 

BIOTIME, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(IN THOUSANDS)

(UNAUDITED)

 

   Three Months Ended March 31, 
   2018   2017 
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income (loss) attributable to BioTime, Inc.  $(63,548)  $49,288 
Net loss allocable to noncontrolling interest   (150)   (2,264)
Adjustments to reconcile net income (loss) attributable to BioTime, Inc. to net cash used in operating activities:          
Gain on deconsolidation of OncoCyte (Note 3)   -    (71,697)
Gain on sale of equity method investment in Ascendance   (3,215)   - 
Acquired in-process research and development   800    - 
Unrealized (gain) loss on equity method investment in OncoCyte at fair value   37,419    (16,142)
Unrealized loss on equity method investment in Asterias at fair value   17,398    26,097 
Unrealized gain on marketable equity securities   (215)   - 
Depreciation expense, including amortization of leasehold improvements   281    216 
Amortization of intangible assets   582    602 
Stock-based compensation   984    1,026 
Liability classified warrants   108    - 
Amortization of discount on related party convertible debt   -    253 
Foreign currency remeasurement and other (gain) loss   87    (829)
Deferred income tax provision   -    3,877 
Changes in operating assets and liabilities:          
Accounts and grants receivable, net   (37)   248 
Receivables from affiliates, net of payables   175    231 
Prepaid expenses and other current assets   (213)   338 
Accounts payable and accrued liabilities   (840)   655 
Other liabilities   46    3 
Net cash used in operating activities   (10,338)   (8,098)
           
CASH FLOWS FROM INVESTING ACTIVITIES:          
Deconsolidation of cash and cash equivalents of OncoCyte   -    (8,898)
Proceeds from the sale of equity method investment in Ascendance   3,215    - 
Purchase of in-process research and development   (800)   - 
Purchase of equipment and other assets   (198)   (215)
Security deposit paid   (6)   (41)
Net cash provided by (used in) investing activities   2,211    (9,154)
           
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuance of common shares   -    20,125 
Fees paid on sale of common shares   -    (1,345)
Proceeds from exercises of stock options   -    25 
Common shares received and retired for employee taxes paid   (7)   - 
Proceeds from sale of subsidiary warrants   737    - 
Repayment of lease liability and promissory notes   (97)   (31)
Reimbursement from landlord on construction in progress   -    200 
Proceeds from issuance of related party convertible debt   -    123 
Net cash provided by financing activities   633    19,097 
           
Effect of exchange rate changes on cash, cash equivalents and restricted cash   60    (117)
           
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH   (7,434)   1,728 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:          
At beginning of the period   37,685    22,935 
At end of the period  $30,251   $24,663 

 

See accompanying notes to the condensed consolidated interim financial statements.

 

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