EX-99.1 2 d846584dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

International Stem Cell Corporation and Subsidiaries

Condensed Pro Forma Consolidated Balance Sheet

(in thousands, except share data)

 

     September 30,
2014		     Pro Forma     September 30,
2014		  
     As Reported     Adjustments     Pro Forma  
     (Unaudited)     (Unaudited)     (Unaudited)  

Assets

       

Cash and cash equivalents

    $ 471      $ —        $ 471   

Accounts receivable, net of allowance for doubtful accounts of $19

      464        —          464   

Inventory, net

      1,533        —          1,533   

Prepaid expenses and other current assets

      359        —          359   

Restricted cash

      50        —          50   
  

 

 

      

 

 

  

Total current assets

      2,877        —          2,877   

Property and equipment, net

      781        —          781   

Intangible assets, net

      2,649        —          2,649   

Deposits and other assets

      57        —          57   
  

 

 

      

 

 

  

Total assets

    $ 6,364      $ —        $ 6,364   
  

 

 

      

 

 

  

Liabilities, Redeemable Preferred Stock and Stockholders’ Equity (Deficit)

       

Accounts payable

    $ 715      $ —        $ 715   

Accrued liabilities

      1,299        —          1,299   

Deferred revenue

      —          —          —     

Related party payable

      5        —          5   

Advances

      250        —          250   

Fair value of warrant liability

      —          —          —     
  

 

 

      

 

 

  

Total current liabilities

      2,269        —          2,269   
  

 

 

      

 

 

  

Convertible Redeemable Series G Preferred stock, $0.001 par value, 5,000,000 shares authorized, issued and outstanding and liquidation preference of $5,000

      4,941        (4,941 )      —     

Commitments and contingencies

       

Stockholders’ Deficit

       

Series D Preferred stock, $0.001 par value, 50 shares authorized, 43 issued and outstanding with liquidation preference of $4,320

      —          —          —     

Series B Preferred stock, $0.001 par value, 5,000,000 shares authorized, 300,000 issued and outstanding with liquidation preferences of $417

      —          —          —     

Common stock, $0.001 par value, 600,000,000 shares authorized, 224,274,073 shares issued and outstanding

      224        —          224   

Convertible Series G Preferred stock, $0.001 par value, 5,000,000 shares authorized, issued and outstanding, liquidation preference of $5,000

      —          4,941        4,941   

Additional paid-in capital

      89,080        —          89,080   

Accumulated deficit

      (90,150 )      —          (90,150 ) 
  

 

 

      

 

 

  

Total stockholders’ deficit

      (846 )      4,941        4,095   
  

 

 

      

 

 

  

Total liabilities, redeemable preferred stock and stockholders’ equity (deficit)

    $ 6,364      $ —        $ 6,364