Cryo Cell International Inc. Files Q2 2024 10-Q

TL;DR

CRYO CELL INT'L 10-Q FILED: Q2 financials out, check for operational updates.

AI Summary

Cryo Cell International Inc. filed its 10-Q for the period ending May 31, 2024. The filing details financial performance and operational updates for the second quarter. Key financial figures and business developments are outlined within the report, providing insight into the company's current standing.

Why It Matters

This 10-Q filing provides investors with crucial financial and operational data for Cryo Cell International Inc., enabling informed decisions about the company's performance and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains standard financial reporting which can include material information, but without specific negative or positive indicators, it's assessed as medium risk.

Key Players & Entities

• CRYO CELL INTERNATIONAL INC (company) — Filer
• 2024-05-31 (date) — Reporting Period End Date
• 2024-07-15 (date) — Filing Date
• 0000862692 (company) — Central Index Key
• 813-749-2104 (phone_number) — Business Phone
• Duke University (company) — Mentioned in context of vesting conditions

FAQ

Key Financial Figures

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

Filing Documents

• ccel-20240531.htm (10-Q) — 2219KB
• ccel-ex10_5.htm (EX-10.5) — 18KB
• ccel-ex31_1.htm (EX-31.1) — 14KB
• ccel-ex31_2.htm (EX-31.2) — 14KB
• ccel-ex31_3.htm (EX-31.3) — 14KB
• ccel-ex32_1.htm (EX-32.1) — 14KB
• 0000950170-24-083637.txt ( ) — 10627KB
• ccel-20240531.xsd (EX-101.SCH) — 1497KB
• ccel-20240531_htm.xml (XML) — 2250KB

- 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 28

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 37

Controls and Procedures

Item 4. Controls and Procedures 37

- OTHER INFORMATION

PART II - OTHER INFORMATION 39

Legal Proceedings

Item 1. Legal Proceedings 39

Risk Factors

Item 1A. Risk Factors 39

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 52

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 52

Other Information

Item 5. Other Information 52

Exhibits

Item 6. Exhibits 53

SIGNATURES

SIGNATURES 54 2 CRYO-CELL INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED B ALANCE SHEETS (Unaudited) May 31, November 30, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 469,195 $ 406,067 Marketable securities 1,060,436 574,183 Accounts receivable (net of allowance for doubtful accounts of $ 4,026,578 and $ 3,822,300 , respectively) 6,831,447 6,576,240 Prepaid expenses 651,781 615,407 Inventory, current portion 708,193 768,877 Swap contract — 122,113 Other current assets 435,475 389,950 Total current assets 10,156,527 9,452,837 Property and Equipment-net 22,161,859 20,996,883 Other Assets Investment - Tianhe stock — 308,000 Intangible assets, net 955,187 989,121 Inventory, net of current portion 5,198,075 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 881,744 1,033,157 Deposits and other assets, net 779,044 746,493 Total other assets 30,248,210 30,771,050 Total assets $ 62,566,596 $ 61,220,770 LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY Current Liabilities Accounts payable $ 1,827,717 $ 3,174,584 Accrued expenses 3,217,270 5,170,809 Note payable 171,605 165,641 Line of credit 4,222,728 1,222,728 Current portion of operating lease liability 294,777 225,686 Duke license agreement liability 133,333 1,200,000 Deferred revenue 9,580,635 9,704,553 Total current liabilities 19,448,065 20,864,001 Other Liabilities Deferred revenue, net of current portion 43,920,645 41,186,800 Contingent consideration 35,353 44,226 Note payable, net of current portion and debt issuance costs 8,356,372 8,430,037 Operating lease long-term liability 672,339 851,938 Long-term liability - revenue sharing agreements 875,000 875,000 Total other liabilities 53,859,709 51,388,001 T

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View this 10-Q filing on SEC EDGAR