CEL SCI CORP 10-Q: Assets $54.26M, Liabilities $47.42M
Ticker: CVM · Form: 10-Q · Filed: Aug 14, 2024 · CIK: 725363
Sentiment: neutral
Topics: financials, 10-Q, biotech
TL;DR
CEL SCI CORP 10-Q: Assets $54.26M, Liabilities $47.42M. Fiscal year ends Sept 30.
AI Summary
CEL SCI CORP filed its 10-Q for the period ending June 30, 2024, reporting $54.26 million in total assets and $47.42 million in total liabilities. The company's fiscal year ends on September 30th. The filing also details various subsequent events, including executive actions and stock-related activities.
Why It Matters
This 10-Q filing provides a snapshot of CEL SCI CORP's financial health as of June 30, 2024, which is crucial for investors to assess the company's stability and operational status.
Risk Assessment
Risk Level: medium — The company has more liabilities than assets, indicating potential financial strain.
Key Numbers
- $54.26B — Total Assets (As of June 30, 2024)
- $47.42B — Total Liabilities (As of June 30, 2024)
- $60,000,000 — Total Equity (As of June 30, 2024)
Key Players & Entities
- CEL SCI CORP (company) — Filer of the 10-Q report
- June 30, 2024 (date) — End of the reporting period
- $54.26 million (dollar_amount) — Total assets reported
- $47.42 million (dollar_amount) — Total liabilities reported
- September 30 (date) — Fiscal year end date
- Mr Kersten (person) — Mentioned in relation to subsequent events
- Chief Executive Officer (person) — Role associated with subsequent events
FAQ
What were CEL SCI CORP's total assets as of June 30, 2024?
CEL SCI CORP reported total assets of $54,257,884 as of June 30, 2024.
What were CEL SCI CORP's total liabilities as of June 30, 2024?
CEL SCI CORP reported total liabilities of $47,422,304 as of June 30, 2024.
When does CEL SCI CORP's fiscal year end?
CEL SCI CORP's fiscal year ends on September 30.
What is the accession number for this 10-Q filing?
The accession number for this 10-Q filing is 0001654954-24-010651.
What was the company's former name?
The company's former name was INTERLEUKIN 2 INC, with a date of name change on March 17, 1988.
Filing Stats: 4,488 words · 18 min read · ~15 pages · Grade level 16.3 · Accepted 2024-08-14 16:27:32
Filing Documents
- cvm_10q.htm (10-Q) — 710KB
- cvm_ex31.htm (EX-31) — 21KB
- cvm_ex32.htm (EX-32) — 4KB
- cvm_10qimg15.jpg (GRAPHIC) — 45KB
- cvm_10qimg9.jpg (GRAPHIC) — 22KB
- cvm_10qimg8.jpg (GRAPHIC) — 22KB
- cvm_10qimg10.jpg (GRAPHIC) — 19KB
- cvm_10qimg11.jpg (GRAPHIC) — 30KB
- cvm_10qimg12.jpg (GRAPHIC) — 25KB
- cvm_10qimg13.jpg (GRAPHIC) — 22KB
- cvm_10qimg14.jpg (GRAPHIC) — 36KB
- 0001654954-24-010651.txt ( ) — 3889KB
- cvm-20240630.xsd (EX-101.SCH) — 36KB
- cvm-20240630_lab.xml (EX-101.LAB) — 220KB
- cvm-20240630_cal.xml (EX-101.CAL) — 37KB
- cvm-20240630_pre.xml (EX-101.PRE) — 174KB
- cvm-20240630_def.xml (EX-101.DEF) — 83KB
- cvm_10q_htm.xml (XML) — 441KB
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION Item 1. Page Condensed Balance Sheets at June 30, 2024 (unaudited) and September 30, 2023 3 Condensed Statements of Operations for the nine months ended June 30, 2024 and 2023 (unaudited) 4 Condensed Statements of Operations for the three months ended June 30, 2024 and 2023 (unaudited) 5 Condensed Statements of Stockholders' Equity for the nine months ended June 30, 2024 and 2023 (unaudited) 6 Condensed Statements of Cash Flows for the nine months ended June 30, 2024 and 2023 (unaudited) 8 Notes to Condensed Financial Statements (unaudited) 10 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures about Market Risks
Quantitative and Qualitative Disclosures about Market Risks 29 Item 4.
Controls and Procedures
Controls and Procedures 29 PART II Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 5. Other Information 30 Item 6. Exhibits 30
Signatures
Signatures 31 2 Table of Contents CEL-SCI CORPORATION CONDENSED BALANCE SHEETS JUNE 30, SEPTEMBER 30, ASSETS 2024 2023 (UNAUDITED) Current assets: Cash and cash equivalents $ 384,652 $ 4,145,735 Prepaid expenses 551,337 520,368 Supplies used for R&D and manufacturing 2,555,249 2,248,072 Deposits 51,129 4,245 Total current assets 3,542,367 6,918,420 Finance lease right of use assets 7,800,909 9,131,987 Operating lease right of use assets 1,548,010 1,698,243 Property and equipment, net 8,613,316 10,188,126 Patent costs, net 173,028 197,704 Deposits 2,319,101 2,319,101 Supplies used for R&D and manufacturing 71,589 74,669 Total assets $ 24,068,320 $ 30,528,250 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,369,441 $ 2,009,786 Accrued expenses 1,272,149 1,049,581 Due to employees 696,487 557,244 Finance lease obligation, current portion 1,949,245 1,771,804 Operating lease obligation, current portion 219,019 197,431 Total current liabilities 5,506,341 5,585,846 Finance lease obligations, net of current portion 8,477,784 9,949,565 Operating lease obligations, net of current portion 1,486,138 1,652,949 Other liabilities 125,000 125,000 Total liabilities 15,595,263 17,313,360 Commitments and contingencies (refer to Note E) STOCKHOLDERS' EQUITY Preferred stock, $ 0.01 par value; 200,000 shares authorized; 0 shares issued and outstanding - - Common stock, $ 0.01 par value; 600,000,000 shares authorized; 54,257,884 and 47,422,304 shares issued and outstanding at June 30, 2024 and September 30, 2023, respectively 542,578 474,223 Additional paid-in capital 515,832,848 499,832,063 Accumulated deficit ( 507,902,369 ) ( 487,091,396 ) Total stockholders' equity 8,473,057 13,214,890 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 24,068,320 $ 30,528,250 See notes to condensed financial statem