v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets    
Cash $ 1,616,248 $ 4,938,948
Accounts receivable, net 1,352,870 1,317,568
Prepaid expenses and other current assets 592,280 467,807
Assets held for resale 6,619 27,000
Total Current Assets 3,568,017 6,751,323
Non-Current Assets    
Intangibles, net 7,595,808 7,498,890
Plant and equipment, net 2,647,949 2,677,734
Deposits 238,987 238,987
Total Non-Current Assets 10,482,744 10,415,611
Total Assets 14,050,761 17,166,934
Current Liabilities    
Accounts payable 1,651,245 1,712,181
Other payables and accrued expenses 2,352,459 1,633,801
Legal settlement accrual 1,543,333 1,426,667
Loans payable 362,264 442,109
Deferred revenue 614,471
Deferred subsidy 3,200,000 5,600,000
Deferred purchase consideration 1,714,643 1,332,800
Total Current Liabilities 10,823,944 12,762,029
Non-Current Liabilities    
Deferred purchase consideration, net 7,215,572 7,454,511
Legal settlement accrual 200,000 483,333
Total Non-Current Liabilities 7,415,572 7,937,844
Total Liabilities 18,239,516 20,699,873
Commitment and contingencies
Stockholders' Deficit    
Preferred stock, $0.001 par value, 10,000,000 authorized, 400,000 shares designated as Series A Preferred Stock and unissued, 3,000,000 shares designated as Series B Preferred stock and unissued, 6,600,000 undesignated and unissued
Common stock, $0.001 par value; 50,000,000 shares authorized, 6,720,107 shares issued and 6,393,107 outstanding as of March 31, 2017 and December 31, 2016. 6,392 6,392
Additional paid-in-capital 24,258,053 24,108,143
Treasury stock, at cost (327,000 shares of common stock at March 31, 2017 and December 31, 2016. (237) (237)
Accumulated deficit (28,452,963) (27,647,237)
Total Stockholder's Deficit (4,188,755) (3,532,939)
Total Liabilities and Stockholders' Deficit $ 14,050,761 $ 17,166,934

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v3.7.0.1
Unaudited Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Statements of Operations [Abstract]    
Revenues $ 5,819,950 $ 900,866
Cost of sales 2,936,610 694,851
Gross profit 2,883,340 206,015
Operating expenses:    
Selling, general and administrative expenses 3,098,274 1,011,771
Depreciation 384,731 101,577
Amortization 56,246 56,245
Total Operating expenses 3,539,251 1,169,593
Operating loss (655,911) (963,578)
Other income (expense)    
Other income 226
Interest income 289
Interest expense (150,041) (146,238)
Total other expense (149,815) (145,949)
Net loss before income tax (805,726) (1,109,527)
Income tax
Net loss $ (805,726) $ (1,109,527)
Net Loss Per Share - Basic and Diluted $ (0.13) $ (0.17)
Weighted Average Number of Shares Outstanding - Basic and Diluted 6,393,107 6,481,857

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v3.7.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (805,726) $ (1,109,527)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation expense 384,731 101,577
Amortization expense 56,246 56,245
Stock based compensation charge 149,910 95,300
Imputed interest on acquisition of Icagen assets 149,312 144,045
Changes in operating assets and liabilities    
Accounts receivable (35,302) 102,306
Prepaid expenses and other current assets (124,473) 27,067
Accounts payable (60,936) (263,802)
Deferred subsidy (614,471)
Deferred revenues (2,400,000)
Other payables and accrued expenses 551,991 (457,777)
CASH USED IN OPERATING ACTIVITIES (2,748,718) (1,304,566)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payment of deferred purchase consideration (125,000)
Purchase of plant and equipment (354,946) (3,070)
Purchase of intangibles (153,164)
Proceeds on assets held for resale 20,381
NET CASH USED IN INVESTING ACTIVITIES (487,729) (128,070)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of Los Alamos County loan (8,899)
Repayment of software loan (6,456)
Repayment of equipment loan (86,253)
NET CASH PROVIDED BY FINANCING ACTIVITIES (86,253) (15,355)
NET DECREASE IN CASH (3,322,700) (1,447,991)
Cash at the beginning of the period 4,938,948 2,266,788
CAST AT END OF PERIOD 1,616,248 818,797
CASH PAID FOR INTEREST AND TAXES:    
Cash paid for income taxes
Cash paid for interest 729 2,205
NON-CASH INVESTING AND FINANCING ACTIVITIES

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