Cryo Cell International Files 10-Q for Feb 2024

TL;DR

CRYO CELL INT'L 10-Q FILED: QTR END FEB 29, 2024. FINANCIALS UPDATED.

AI Summary

Cryo Cell International Inc. filed its 10-Q for the period ending February 29, 2024. The company's fiscal year ends on November 30th. Key dates mentioned include November 30, 2023, and February 29, 2024, related to financial reporting and fair value measurements. The filing also references employment agreements from December 23, 2022, and patents as of February 29, 2024.

Why It Matters

This 10-Q filing provides investors with an update on Cryo Cell International's financial performance and position for the quarter ending February 29, 2024.

Risk Assessment

Risk Level: medium — The risk level is medium due to the nature of 10-Q filings which provide periodic financial updates that can impact stock price.

Key Numbers

• 20240229 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 20240415 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2023-11-30 — Fiscal Year End (Defines the end of the company's annual financial reporting cycle.)

Key Players & Entities

• CRYO CELL INTERNATIONAL INC (company) — Filer of the 10-Q
• 20240229 (date) — End of the reporting period
• 20240415 (date) — Filing date
• 2023-11-30 (date) — Fiscal year end
• 2022-12-23 (date) — Date of employment agreements
• 8090 (number) — Standard Industrial Classification code
• 223023093 (number) — IRS number
• 001-40767 (number) — SEC file number

FAQ

Key Financial Figures

• $0.01 — e on which registered Common Stock, $0.01 par value CCEL NYSE American LLC

Filing Documents

• ccel-20240229.htm (10-Q) — 1831KB
• ccel-ex10_5.htm (EX-10.5) — 150KB
• ccel-ex31_1.htm (EX-31.1) — 13KB
• ccel-ex31_2.htm (EX-31.2) — 13KB
• ccel-ex31_3.htm (EX-31.3) — 13KB
• ccel-ex32_1.htm (EX-32.1) — 14KB
• 0000950170-24-044493.txt ( ) — 9601KB
• ccel-20240229.xsd (EX-101.SCH) — 1432KB
• ccel-20240229_htm.xml (XML) — 1932KB

- FINANCIAL INFORMATION (UNAUDITED)

PART I - FINANCIAL INFORMATION (UNAUDITED)

Financial Statements

Item 1. Financial Statements Consolidated Balance Sheets 3 Consolidated Statements of Income 4 Consolidated Statements of Cash Flows 5 Consolidated Statements of Stockholders' Deficit 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 34

Controls and Procedures

Item 4. Controls and Procedures 34

- OTHER INFORMATION

PART II - OTHER INFORMATION 36

Legal Proceedings

Item 1. Legal Proceedings 36

Risk Factors

Item 1A. Risk Factors 36

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 49

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 49

Other Information

Item 5. Other Information 49

Exhibits

Item 6. Exhibits 50

SIGNATURES

SIGNATURES 51 2 CRYO-CELL INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED B ALANCE SHEETS (Unaudited) February 29, November 30, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 247,112 $ 406,067 Marketable securities 732,481 574,183 Accounts receivable (net of allowance for doubtful accounts of $ 3,939,638 and $ 3,822,300 , respectively) 6,726,893 6,576,240 Prepaid expenses 535,295 615,407 Inventory, current portion 755,160 768,877 Swap contract 76,825 122,113 Other current assets 378,310 389,950 Total current assets 9,452,076 9,452,837 Property and Equipment-net 21,605,273 20,996,883 Other Assets Investment - Tianhe stock 308,000 308,000 Intangible assets, net 972,154 989,121 Inventory, net of current portion 5,223,980 5,260,119 Goodwill 1,941,411 1,941,411 Deferred tax assets 20,492,749 20,492,749 Operating lease right-of-use asset 958,022 1,033,157 Deposits and other assets, net 757,109 746,493 Total other assets 30,653,425 30,771,050 Total assets $ 61,710,774 $ 61,220,770 LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY Current Liabilities Accounts payable $ 2,996,658 $ 3,174,584 Accrued expenses 3,916,898 5,170,809 Note payable 168,623 165,641 Line of credit 1,972,728 1,222,728 Current portion of operating lease liability 253,981 225,686 Duke license agreement liability 666,667 1,200,000 Deferred revenue 9,394,821 9,704,553 Total current liabilities 19,370,376 20,864,001 Other Liabilities Deferred revenue, net of current portion 42,603,661 41,186,800 Contingent consideration 39,050 44,226 Note payable, net of current portion and debt issuance costs 8,391,738 8,430,037 Operating lease long-term liability 768,961 851,938 Long-term liability - revenue sharing agreements 875,000 875,000 Total other liabilities 52,678,410 5

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View this 10-Q filing on SEC EDGAR