Harvard Apparatus Regenerative Technology Inc
For the period ended Mar 31, 2024. Filed May 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 13, 2024
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Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| OPERATING ACTIVITIES | ||
| Net loss | $(2,030) | $(2,890) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Share-based compensation expense | 560 | 1,840 |
| Depreciation | 6 | 12 |
| Amortization of right-of-use assets | 27 | 27 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (3) | — |
| Inventory | 6 | — |
| Prepaid research and development | 51 | 8 |
| Prepaid expenses and other current assets | (48) | (12) |
| Deferred financing costs | — | 66 |
| Accounts payable | 445 | 73 |
| Operating lease liability | (27) | (27) |
| Accrued and other current liabilities | 53 | (110) |
| Net cash used in operating activities | (960) | (1,013) |
| INVESTING ACTIVITIES | ||
| Purchases of property, plant, and equipment | — | (9) |
| Net cash used in investing activities | — | (9) |
| FINANCING ACTIVITIES | ||
| Advance from private placement | 301 | — |
| Proceeds from convertible debt – related party | 500 | — |
| Proceeds from issuance of common stock | — | 3,050 |
| Net cash provided by financing activities | 801 | 3,050 |
| Effect of exchange rate changes on cash | (1) | — |
| Net (decrease) increase in cash and cash equivalents | (160) | 2,028 |
| Cash and cash equivalents at the beginning of the year | 432 | 1,241 |
| Cash and cash equivalents at the end of the period | $272 | $3,269 |
| Supplemental disclosure of non-cash activities: | ||
| Purchases of property and equipment in accounts payable or accrued expenses | $— | $9 |
| Preferred stock dividends | $— | $80 |
| Conversion of preferred stock into common stock | $— | $209 |
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