NovelStem International Corp. Files Q3 2024 10-Q
Ticker: NSTM · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 912544
| Field | Detail |
|---|---|
| Company | Novelstem International Corp. (NSTM) |
| Form Type | 10-Q |
| Filed Date | Nov 14, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
NovelStem Intl. filed its Q3 10-Q, check financials vs. last year.
AI Summary
NovelStem International Corp. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as HOLLYWOOD MEDIA CORP, is based in Boca Raton, Florida. The filing details financial information for the third quarter and the year-to-date period, comparing it to the same periods in 2023.
Why It Matters
This filing provides investors with the latest financial performance and position of NovelStem International Corp., crucial for understanding its current business health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating immediate significant risks.
Key Numbers
- Q3 2024 — Reporting Period (Financials for the third quarter ending September 30, 2024.)
- 2023 — Comparison Period (Financials for the same period in the previous year.)
Key Players & Entities
- NovelStem International Corp. (company) — Filer
- HOLLYWOOD MEDIA CORP (company) — Former company name
- Boca Raton, Florida (location) — Business address
- 20240930 (date) — Reporting period end date
FAQ
What is the primary business of NovelStem International Corp.?
The filing lists the Standard Industrial Classification as RETAIL-RETAIL STORES, NEC [5990], suggesting retail operations, though the specific nature is not detailed in this excerpt.
When was NovelStem International Corp. previously known by another name?
The company was formerly known as HOLLYWOOD MEDIA CORP, with a name change date of 20001215.
What is the fiscal year end for NovelStem International Corp.?
The fiscal year end for NovelStem International Corp. is December 31.
What is the filing date of this 10-Q report?
This 10-Q report was filed on November 14, 2024.
What periods does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024, and includes comparisons to the same periods in 2023.
Filing Stats: 4,591 words · 18 min read · ~15 pages · Grade level 18.5 · Accepted 2024-11-14 16:09:06
Filing Documents
- form10-q.htm (10-Q) — 718KB
- ex31-1.htm (EX-31.1) — 19KB
- ex31-2.htm (EX-31.2) — 19KB
- ex32-1.htm (EX-32.1) — 7KB
- ex32-2.htm (EX-32.2) — 7KB
- 0001493152-24-045856.txt ( ) — 4011KB
- nstm-20240930.xsd (EX-101.SCH) — 27KB
- nstm-20240930_cal.xml (EX-101.CAL) — 41KB
- nstm-20240930_def.xml (EX-101.DEF) — 112KB
- nstm-20240930_lab.xml (EX-101.LAB) — 237KB
- nstm-20240930_pre.xml (EX-101.PRE) — 198KB
- form10-q_htm.xml (XML) — 599KB
Financial Information
Part I Financial Information
Unaudited Condensed Financial Statements
Item 1. Unaudited Condensed Financial Statements: Unaudited Condensed Balance Sheets as of September 30, 2024 and December 31, 2023 3 Unaudited Condensed Statements of Operations for the nine and three months ended September 30, 2024 and 2023 4 Unaudited Condensed Statements of Changes in Shareholders' Deficit for the nine months ended September 30, 2024 and 2023 5 Unaudited Condensed Statements of Cash Flows for the nine months ended September 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 2024 2023 As of September 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash $ 45,319 $ 53,063 Accounts receivable, administrative fees 7,500 - Prepaid expenses 16,118 33,540 Total current assets 68,937 86,603 Investment in NetCo Partners 129,545 133,709 Note receivable, NewStem Ltd. - 250,000 Investment in NewStem Ltd - 1,784,234 Total assets $ 198,482 $ 2,254,546 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 105,317 $ 54,257 Notes payable 250,000 250,000 Current portion of long-term notes payable, including accrued interest 3,117,899 - Accrued expenses 126,015 42,223 Total current liabilities 3,599,231 346,480 Long-term liabilities: Long-term notes payable, including accrued interest, net 833,924 3,324,599 Convertible debt, including accrued interest 105,622 - Derivative liability, guarantee 650,000 535,000 Total long-term liabilities 1,589,546 3,859,599 Total liabilities 5,188,777 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 September 30, 2024 and December 31, 2023 468,815 468,815 Additional paid-in capital 290,938,482 290,907,217 Accumulated deficit ( 296,197,838 ) ( 293,127,811 ) Treasury stock, at cost, 3,435,197 shares as of September 30, 2024 and December 31, 2023 ( 199,754 ) ( 199,754 ) Total shareholders' deficit ( 4,990,295 ) ( 1,951,533 ) Total liabilities and shareholders' deficit $ 198,482 $ 2,254,546 The accompanying notes are an integral part of these unaudited condensed financial statements. 3 NOVELSTEM INTERNATIONAL CORP. CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) 2