Cryo Cell International Inc. Files Q3 2024 10-Q

TL;DR

CRYO CELL FILES Q3 10-Q - OPERATIONS CONTINUE IN CORD BLOOD BANKING

AI Summary

Cryo Cell International Inc. reported its third-quarter results for the period ending August 31, 2024. The company's filing indicates ongoing operations in public cord blood banking and related services. Specific financial figures and operational details for the quarter are not detailed in this header information, but the filing covers the period from June 1, 2024, to August 31, 2024.

Why It Matters

This filing provides an update on Cryo Cell International Inc.'s financial and operational status for the third quarter of 2024, which is crucial for investors and stakeholders to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the healthcare and biotech sectors can carry inherent risks related to regulation, research, and market adoption.

Key Numbers

• Q3 — Quarterly Period (Reporting period is the third quarter of fiscal year 2024.)
• 20240831 — End of Reporting Period (The financial and operational data covers up to August 31, 2024.)

Key Players & Entities

• CRYO CELL INTERNATIONAL INC (company) — Filer
• 0000862692 (company) — Central Index Key
• 20240831 (date) — Reporting Period End Date
• 20241015 (date) — Filing Date
• 813-749-2104 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• ccel-20240831.htm (10-Q) — 2227KB
• 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
• 0000950170-24-114762.txt ( ) — 10287KB
• ccel-20240831.xsd (EX-101.SCH) — 1300KB
• ccel-20240831_htm.xml (XML) — 2225KB

- 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 36

Controls and Procedures

Item 4. Controls and Procedures 36

- OTHER INFORMATION

PART II - OTHER INFORMATION 38

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 38

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) August 31, November 30, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 197,437 $ 406,067 Marketable securities 1,929,458 574,183 Accounts receivable (net of allowance for doubtful accounts of $ 4,172,151 and $ 3,822,300 , respectively) 6,873,641 6,576,240 Prepaid expenses 512,509 615,407 Inventory, current portion 731,360 768,877 Swap contract — 122,113 Other current assets 416,479 389,950 Total current assets 10,660,884 9,452,837 Property and Equipment-net 22,117,945 20,996,883 Other Assets Investment - Tianhe stock — 308,000 Intangible assets, net 938,221 989,121 Inventory, net of current portion 5,088,427 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 896,790 1,033,157 Deposits and other assets, net 798,046 746,493 Total other assets 30,155,644 30,771,050 Total assets $ 62,934,473 $ 61,220,770 LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY Current Liabilities Accounts payable $ 2,000,551 $ 3,174,584 Accrued expenses 2,680,573 5,170,809 Note payable 174,587 165,641 Line of credit 2,222,728 1,222,728 Current portion of operating lease liability 383,891 225,686 Duke license agreement liability 133,333 1,200,000 Deferred revenue 9,826,910 9,704,553 Total current liabilities 17,422,573 20,864,001 Other Liabilities Deferred revenue, net of current portion 45,198,139 41,186,800 Contingent consideration 48,055 44,226 Note payable, net of current portion and debt issuance costs 8,330,630 8,430,037 Operating lease long-term liability 619,032 851,938 Long-term liability - revenue sharing agreements 875,000 875,000 Total other liabilities 55,070,856 51,388,001

View Full Filing

View this 10-Q filing on SEC EDGAR