Novelstem International Corp. 10-Q Filing

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Filing Documents

• form10-q.htm (10-Q) — 661KB
• ex10-1.htm (EX-10.1) — 6KB
• ex10-2.htm (EX-10.2) — 6KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• ex10-1_001.jpg (GRAPHIC) — 486KB
• ex10-1_002.jpg (GRAPHIC) — 400KB
• ex10-1_003.jpg (GRAPHIC) — 466KB
• ex10-1_004.jpg (GRAPHIC) — 483KB
• ex10-1_005.jpg (GRAPHIC) — 425KB
• ex10-1_006.jpg (GRAPHIC) — 398KB
• ex10-1_007.jpg (GRAPHIC) — 102KB
• ex10-2_001.jpg (GRAPHIC) — 429KB
• ex10-2_002.jpg (GRAPHIC) — 367KB
• ex10-2_003.jpg (GRAPHIC) — 409KB
• ex10-2_004.jpg (GRAPHIC) — 448KB
• ex10-2_005.jpg (GRAPHIC) — 370KB
• ex10-2_006.jpg (GRAPHIC) — 362KB
• ex10-2_007.jpg (GRAPHIC) — 54KB
• 0001493152-24-032378.txt ( ) — 11126KB
• nstm-20240630.xsd (EX-101.SCH) — 27KB
• nstm-20240630_cal.xml (EX-101.CAL) — 40KB
• nstm-20240630_def.xml (EX-101.DEF) — 119KB
• nstm-20240630_lab.xml (EX-101.LAB) — 238KB
• nstm-20240630_pre.xml (EX-101.PRE) — 203KB
• form10-q_htm.xml (XML) — 589KB

Financial Information

Part I Financial Information

Unaudited Condensed Financial Statements

Item 1. Unaudited Condensed Financial Statements: Unaudited Condensed Balance Sheets as of June 30, 2024 and December 31, 2023 3 Unaudited Condensed Statements of Operations for the six and three months ended June 30, 2024 and 2023 4 Unaudited Condensed Statements of Changes in Shareholders' Deficit for the six months ended June 30, 2024 and 2023 5 Unaudited Condensed Statements of Cash Flows for the six months ended June 30, 2024 and 2023 6 Notes to Unaudited 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 (Unaudited) As of June 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash $ 7,871 $ 53,063 Accounts receivable, administrative fees 4,500 - Prepaid expenses 16,389 33,540 Total current assets 28,760 86,603 Investment in NetCo Partners 130,789 133,709 Note receivable, NewStem Ltd. 500,000 250,000 Investment in NewStem Ltd 1,678,991 1,784,234 Total assets $ 2,338,540 $ 2,254,546 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 110,030 $ 54,257 Notes payable 250,000 250,000 Current portion of long-term notes payable, including accrued interest 3,037,047 - Accrued expenses 118,453 42,223 Total current liabilities 3,515,530 346,480 Long-term liabilities: Long-term notes payable, including accrued interest, net 720,519 3,324,599 Convertible debt, including accrued interest 102,598 - Derivative liability, guarantee 535,000 535,000 Total long-term liabilities 1,358,117 3,859,599 Total liabilities 4,873,647 4,206,079 Commitments and contingencies (see Note 7) - - Shareholders' (deficit) equity: Common stock, $ .01 par value, 100,000,000 shares authorized, 50,316,672 shares issued, and 46,881,475 shares outstanding as of June 30, 2024 and December 31, 2023 468,815 468,815 Additional paid-in capital 290,929,548 290,907,217 Accumulated deficit ( 293,733,716 ) ( 293,127,811 ) Treasury stock, at cost, 3,435,197 shares as of June 30, 2024 and December 31, 2023 ( 199,754 ) ( 199,754 ) Total shareholders' deficit ( 2,535,107 ) ( 1,951,533 ) Total liabilities and shareholders' deficit $ 2,338,540 $ 2,254,546 The accompanying notes are an integral part of these unaudited condensed financial statements. 3 NOVELSTEM INTERNATIONAL CORP. CONDENSED (UN

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