NovelStem International Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>NovelStem International Corp. filed its Q1 2024 10-Q report, detailing financial data and corporate history.</b>

AI Summary

NovelStem International Corp. (NSTM) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. NovelStem International Corp. filed a 10-Q report for the period ending March 31, 2024. The company's business address is 2255 Glades Rd, Ste 237 W, Boca Raton, FL 33431. NovelStem International Corp. was formerly known as HOLLYWOOD MEDIA CORP and HOLLYWOOD COM INC. The filing includes data related to common stock, additional paid-in capital, retained earnings, and treasury stock for various periods. Key dates mentioned include the filing date of May 15, 2024, and the reporting period of January 1, 2024, to March 31, 2024.

Why It Matters

For investors and stakeholders tracking NovelStem International Corp., this filing contains several important signals. This filing provides a snapshot of NovelStem's financial position and equity structure as of March 31, 2024, which is crucial for investors to assess the company's stability and capital. The historical name changes and former company identities listed in the filing are important for understanding the company's evolution and potential legacy issues or strategic shifts.

Risk Assessment

Risk Level: — NovelStem International Corp. shows moderate risk based on this filing. The filing is a standard 10-Q quarterly report, which typically contains routine financial information and does not indicate any immediate or significant financial distress or positive development.

Analyst Insight

Review the detailed financial statements and equity components within the 10-Q to understand NovelStem's current financial health and capital structure.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-15 — Filing Date (Filed as of date)
• 5619988000 — Business Phone (Business phone number)

Key Players & Entities

• NovelStem International Corp. (company) — Filer name
• 2255 Glades Rd, Ste 237 W, Boca Raton, FL 33431 (address) — Business address
• HOLLYWOOD MEDIA CORP (company) — Former company name
• HOLLYWOOD COM INC (company) — Former company name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-15 (date) — Filed as of date

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — Financial data reported as of this date.
• 2024-05-15: Filing Date — Date the 10-Q report was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during the preceding quarter.)

Common Stock

A security that represents ownership in a corporation. (Key component of a company's equity structure, indicating shareholder investment.)

Retained Earnings

The cumulative amount of net income of a company that has not been distributed to shareholders as dividends. (Reflects the company's profitability over time and its ability to reinvest earnings.)

Key Financial Figures

• $0.01 — tanding at May 15, 2024 Common Stock, $0.01 par value per share 46,881,475 NOVE

Filing Documents

• form10-q.htm (10-Q) — 550KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• ex33-1.htm (EX-33.1) — 128KB
• 0001493152-24-019729.txt (&nbsp;) — 3655KB
• nstm-20240331.xsd (EX-101.SCH) — 25KB
• nstm-20240331_cal.xml (EX-101.CAL) — 39KB
• nstm-20240331_def.xml (EX-101.DEF) — 115KB
• nstm-20240331_lab.xml (EX-101.LAB) — 226KB
• nstm-20240331_pre.xml (EX-101.PRE) — 197KB
• form10-q_htm.xml (XML) — 464KB

Financial Information

Part I Financial Information

Unaudited Condensed Financial Statements

Item 1. Unaudited Condensed Financial Statements: Condensed Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Statements of Operations for the three months ended March 31, 2024 and 2023 4 Condensed 5 Condensed Statements of Cash Flows for the three months ended March 31, 2024 and 2023 6 Notes to Condensed 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 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 18

Controls and Procedures

Item 4. Controls and Procedures 18

Other Information

Part II Other Information

Legal Proceedings

Item 1. Legal Proceedings 18

Risk Factors

Item 1A. Risk Factors 19

Exhibits

Item 6. Exhibits 19

Signatures

Signatures 20 2 PART I ITEM 1. UNAUDITED CONDENSED FINANCIAL STATEMENTS NOVELSTEM INTERNATIONAL CORP. CONDENSED BALANCE SHEETS March 31, December 31, As of March 31, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash $ 5,181 $ 53,063 Accounts receivable, administrative fees 3,000 - Prepaid expenses 27,855 33,540 Total current assets 36,036 86,603 Investment in Netco Partners 132,358 133,709 Note receivable, NewStem Ltd 500,000 250,000 Investment in NewStem Ltd 1,732,375 1,784,234 Total assets $ 2,400,769 $ 2,254,546 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 149,672 $ 54,257 Notes payable 250,000 250,000 Current portion of long-term notes payable, including accrued interest 2,850,916 - Accrued expenses 45,974 42,223 Total current liabilities 3,296,562 346,480 Long-term liabilities: Long-term notes payable, including accrued interest, net 810,527 3,324,599 Derivative liability, guarantee 535,000 535,000 Total long-term liabilities 1,345,527 3,859,599 Total liabilities 4,642,089 4,206,079 Commitments and contingencies (see Note 7) - - Shareholders' deficit: Common stock, $ .01 par value, 100,000,000 shares authorized, 50,316,672 shares issued, and 46,881,475 shares outstanding as of March 31, 2024 and December 31, 2023 468,815 468,815 Additional paid-in capital 290,920,710 290,907,217 Accumulated deficit ( 293,431,091 ) ( 293,127,811 ) Treasury stock, at cost, 3,435,197 shares as of March 31, 2024 and December 31, 2023 ( 199,754 ) ( 199,754 ) Total shareholders' deficit ( 2,241,320 ) ( 1,951,533 ) Total liabilities and shareholders' deficit $ 2,400,769 $ 2,254,546 The accompanying notes are an integral part of these condensed financial statements. 3 NOVELSTEM INTERNATIONAL CORP. CONDENSED (UNAUDITED) 2024 2023 Three Months Ended March 31, 2024 20

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View this 10-Q filing on SEC EDGAR