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Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 6,663,318 $ 1,405,826
Accounts receivable, trade, net of allowance for doubtful accounts of $5,575 and $0 at December 31, 2017 and 2016, respectively 1,021,315 1,193,646
Inventories 1,846,746 1,757,784
Prepaid expenses and other current assets 399,502 270,814
Total current assets 9,930,881 4,628,070
Property and equipment    
Leasehold improvements 1,284,491 1,284,491
Furniture and computer equipment 682,466 650,912
Manufacturing and other equipment 1,148,006 922,220
Subtotal 3,114,963 2,857,623
Less: Accumulated depreciation (2,008,927) (1,670,245)
Net property and equipment 1,106,036 1,187,378
Investment in SAVSU 1,070,120 2,075,000
Long-term deposits 36,166 36,166
Total assets 12,143,203 7,926,614
Current liabilities    
Accounts payable 690,702 710,719
Accrued expenses and other current liabilities 200,548 116,399
Accrued compensation 491,432 175,829
Deferred rent, current portion 130,216 130,216
Total current liabilities 1,512,898 1,133,163
Promissory note payable to related party, net of discount of $155,996 at December 31, 2016 0 2,844,004
Accrued interest, related party 0 97,857
Deferred rent, long-term 492,207 685,450
Other long-term liabilities 45,512 0
Total liabilities 2,050,617 4,760,474
Commitments and Contingencies (Note 9)
Shareholders’ equity    
Preferred stock, $0.001 par value; 1,000,000 shares authorized, Series A, 4,250 shares designated, and 4,250 and 0 shares issued and outstanding at December 31, 2017 and 2016, respectively 4 0
Common stock, $0.001 par value; 150,000,000 shares authorized, 14,021,422 and 12,863,824 shares issued and outstanding at December 31, 2017 and 2016, respectively 14,021 12,864
Additional paid-in capital 84,036,444 74,355,645
Accumulated deficit (73,957,883) (71,202,369)
Total BioLife Solutions, Inc. shareholders’ equity 10,092,586 3,166,140
Total liabilities and shareholders’ equity $ 12,143,203 $ 7,926,614