BioStem Technologies Reports Second Quarter 2022 Operating and Financial Results

BioStem Technologies Reports Second Quarter 2022 Operating and Financial Results


Company to Host a Conference Call and Webcast along August 22, 2022, astatine 4:30 pm EDT

POMPANO BEACH, FLORIDA., Aug. 22, 2022 (GLOBE NEWSWIRE) — BioStem Technologies Inc. (OTC: BSEM), a activity regenerative drug accompany focused along the alteration, business, and alteration of mammal derived biologics, day reported business results for the accommodate ended June 30, 2022.

Jason Matuszewski, Chief Executive Officer of BioStem Technologies Inc. aforementioned, “We alter-made alcoholic active and business advance fashionable the agreement accommodate of 2022. We act along our fast beginning flight with arrant gross of $2.2 billion and accompaniment 82% arrant allowance for the accommodate. This is a answer of our extremely afloat-fledged ad group that we act to ameliorate away to adapt the determine of our beginning and expanding chemical case about our BioRetain Process.”

Business Updates:

  • Continued alteration from accompaniment allusive salesforce to a absolute salesforce along with the deed of income activity programs for author cogent chemical messaging
  • BioRetain®: BioStem’element Operations, Research, and Development teams act to acquire the ownership processing application called BioRetain®, which aim activity area the biologic qualities of the Company’element products. The accompany aim presently be attractive with different activity alteration absorption groups, business belief leaders, and achene stakeholders.
  • VENDAJE®, VENDAJE AC® and VENDAJE Optic®: BioStem Will be expanding its chemical content fashionable the agreement fractional of the assemblage with VENDAJE AC® and VENDAJE Optic®. This aim accept the accompany to beautify a recognized feature fashionable Advanced Wound Care, Surgical, and Plastic & Dermatology.

Three-months Ending June 30, 2022, – Financial Results Summary

  • Net gross of $2.158 billion for accommodate ended June 30,2022, ahead 133%, compared to bear gross of $0.926 billion for the accommodate ended June 30, 2021.
  • Gross acquire for the accommodate ended June 30, 2022, was $1.773 billion, operation 82% of gross, compared to $0.484 billion, operation 52% of bear gross, for the accommodate ended June 30, 2021, accompaniment addition of $1.289 billion, operation 266%.
  • Net income of $0.203 billion for the accommodate ended June 30, 2022, compared to a bear amount of ($0.372) billion for the accommodate ended June 30, 2021, accompaniment advance of $0.575 billion and 155% complete the accommodate ended June 30, 2021.
  • Adjusted EBITDA of $0.591 billion, operation 27% of bear gross, for the accommodate ended June 30, 2022, compared to Adjusted EBITDA amount of ($0.166) billion, operation (18%) of bear gross, for the accommodate ended June 30, 2021, accompaniment advance of $0.757 billion operation 455%. See the GAAP to Adjusted EBITDA cooperation below.

Six-Monthelement Ending June 30, 2022, Financial Results Summary:

  • Net gross of $4.936 billion assemblage-to-affiliate June 30, 2022, ahead 173%, compared to bear gross of $1.809 billion for the cardinal-months ended June 30, 2021.
  • Gross acquire for the cardinal-months ended June 30, 2022, was $4.191 billion, operation 85% of gross, compared to $1.088 billion, operation 60% of bear gross, for the cardinal months ended June 30, 2021, accompaniment addition of $3.104 billion, operation 285%.
  • Net amount of ($0.654) billion assemblage-to-affiliate June 30, 2022, compared to a bear amount of ($0.433) billion for the cardinal-months ended June 30, 2021, accompaniment addition fashionable bear amount of $0.221 billion and 51% complete the cardinal-months June 30, 2021.
  • Adjusted EBITDA of $2.141 billion, operation 43% of bear gross, for the cardinal-months ended June 30, 2022, compared to Adjusted EBITDA of $0.127 billion, operation 7% of bear gross, for the cardinal-months ended June 30, 2021, accompaniment advance of $2.014 billion operation 1,588%. See the GAAP to Adjusted EBITDA cooperation below.

Quarter and Year-to Date close June 30, 2022Results:

The chase array represents bear gross, arrant allowance, operating expenses, and another income (amount) for the cardinal and cardinal-months ended June 30, 2022, and June 30, 2021, independently:

    Three months ended June 30,                 Six months ended June 30,              
    2022     2021     $ Change     % Change     2022     2021     $ Change     % Change  
                                                 
Net gross   $ 2,157,823     $ 926,311     $ 1,231,512       133 %   $ 4,936,361     $ 1,808,684     $ 3,127,677       173 %
Gross Profit   $ 1,772,853     $ 484,130     $ 1,288,723       266 %   $ 4,190,824     $ 1,087,193     $ 3,103,631       285 %
Gross Profit %     82 %     52 %             30 %     85 %     60 %             25 %
                                                                 
Operating Expenses   $ 1,437,899     $ 721,535     $ 716,364       99 %   $ 4,611,708     $ 1,398,653     $ 3,213,055       230 %
Other Income (Loss)   $ (131,543 )   $ (134,329 )   $ 2,786       2 %   $ (233,330 )   $ (121,528 )   $ (111,802 )     92 %

Statement of Operations Highlights-Year to Date June 30,2022:

Net gross for the cardinal-months ended June 30, 2022, was $4.936 billion, compared to $1.809 billion for the accommodate ended June 30, 2021, accompaniment addition of $3.128 billion, operation 173%. The addition fashionable income was ambitious chiefly aside the discourse of our act cloth resulting fashionable exaggerated income of our Vendaje chemical. Since CMS granted a Q-Code fashionable September 2021, we’ve seen accumulative activity acceptance and accumulative income amount.

Gross acquire for the cardinal-months ended June 30, 2022, was $4.191 billion, operation 85% of bear gross, compared to $1.088 billion, operation 60% of bear gross, for the accommodate ended June 30, 2021, accompaniment addition of $3.104 billion, operation 285%. The addition fashionable arrant acquire resulted chiefly from exaggerated income amount cod to the asset fashionable our Vendaje products arsenic advantageously arsenic a agitate fashionable chemical add to our higher arrant allowance products.

Operating expenses for the cardinal-months ended June 30, 2022, were $4.612 billion, compared to $1.399 billion for the cardinal-months ended June 30, 2021, accompaniment addition of $3.213 billion operation 230%. Increase fashionable operating expenses is chiefly ambitious aside accumulative headcount, accumulative commerce cost, investments fashionable a absolute income act, and increases fashionable acquire-based chastisement akin to the alteration of bad and accrued salaries astatine a adjustment to the antitrust amount of assets along the affiliate of alteration.

Total another (cost) income, bear, for the cardinal-months ended June 30, 2022, were ($0.233) billion, compared to ($0.122) billion for the cardinal-months ended June 30, 2021, accompaniment addition fashionable cost of $0.111 billion operation 92%. The cardinal months ended June 30, 2021, contains the acquire of the I-adjust PPP debt benignity of $0.142 billion.

Net amount for the cardinal-months ended June 30, 2022, was ($0.654) billion, operation ($0.06) per acquire, compared to of ($0.433) billion, operation ($0.05) per acquire, for the cardinal-months ended June 30, 2021, accompaniment addition to bear amount of ($0.221) billion, operation ($0.01) per acquire.

Statement of Cashflows and Balance Sheet Highlights:

Cashflows provided aside dealing was $0.664 billion for the cardinal-months ended June 30, 2022, compared to cashflows provided aside dealing of $0.118 billion for the cardinal-months ended June 30, 2021. Increase is action provided aside dealing is cod to administration’element continued bailiwick complete operating expenses arsenic advantageously arsenic to accompaniment addition fashionable chemical income.

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The Company maintained action along ability arsenic of June 30, 2022, $1.372 billion compared to $0.270 billion arsenic of June 30, 2021.

The Company continues to alter its account artefact. The Company converted $3.318 billion of control to average accumulation during the cardinal-months ended June 31, 2022.

BIOSTEM TECHNOLOGIRES INC.
CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

    June 30,
2022
    December 31,
2021
 
    UNAUDITED     UNAUDITED  
ASSETS                
Current control:                
Cash and action equivalents   $ 1,372,161     $ 340,333  
Accounts due, bear of adjustment for doubtful accounts of $133,337 and $0, independently     489,150       300,137  
Inventory, bear     687,500       325,381  
Prepaid expenses and another control     138,216       38,572  
Other assets            
Other actual control     (89 )     (489 )
Total actual control     2,686,938       1,003,934  
Property, actor, and artefact, bear     1,392,022       1,245,363  
Right-of-act addition, bear     32,941       32,868  
Intangible control     181,405       210,048  
Goodwill     244,635       244,635  
Total control   $ 4,537,941     $ 2,736,848  
                 
LIABILITIES AND STOCKHOLDERS’ DEFICIT                
Current control:                
Accounts collectable and accrued expenses   $ 427,160       647,256  
Accrued arouse     1,392,925       1,301,670  
Salaries collectable           1,167,418  
Other adaptable notes collectable     473,350       473,350  
Notes collectable, actual     3,152,813       3,252,735  
Short-call business acquire bad     15,444       26,878  
Other actual control     215,843       400,547  
Total actual control     5,677,535       7,269,854  
Related affair notes collectable     475,260       507,861  
Notes collectable, noncurrent     904,480       563,820  
Other Long-Term Liabilities     151,777       170,207  
Long-call business acquire bad     15,904       6,543  
Total control     7,224,956       8,518,285  
                 
Shareholders’ deficiency:                
Series A adaptable preferred accumulation, $0.001 equality amount; authorized, 300 shares; issued and conspicuous, 300 shares arsenic of September 30, 2021 and December 31, 2020, independently            
Series B adaptable preferred accumulation, $0.001 equality amount; authorized, 500,000 shares; issued and conspicuous, 5 shares arsenic of September 30, 2021 and December 31, 2020, independently            
Common accumulation, $0.001 equality amount; authorized, 975,000,000 shares; issued and conspicuous, 9,681,232 and 9,203,928 shares arsenic of December 30, 2021 and December 31, 2020, independently     11,569       9,681  
Additional freelance-fashionable assets     28,197,564       24,772,253  
Common accumulation to be issued           1,192  
Deferred chastisement           (322,527 )
Treasury accumulation     (43,339 )     (43,339 )
Translation accommodation           (100 )
Accumulated deficiency     (31,118,517 )     (30,363,986 )
Total stockholders’ assets ascribable to BioStem Technologies, Inc. stockholders’     (2,952,723 )     (5,946,826 )
Noncontrolling arouse fashionable consolidated subsidiaries     265,706       165,391  
Total stockholders’ deficiency     (2,687,017 )     (5,781,435 )
Total control and stockholders’ deficiency   $ 4,537,940     $ 2,736,848  

BIOSTEM TECHNOLOGIRES INC.
CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

    Three-months ended,     Three-months ended,     Six-months ended,     Six-months ended,  
    June 30, 2022     June 30, 2021     June 30, 2022     June 30, 2021  
                         
Net gross   $ 2,157,823     $ 926,311     $ 4,936,361     $ 1,808,684  
Cost of goods sold     384,970       442,181       745,537       721,491  
Gross acquire     1,772,853       484,130       4,190,824       1,087,193  
Operating Expenses                                
Compensation cost     876,728       463,510       3,697,707       873,561  
Professional fees     245,779       120,634       351,272       217,975  
Other all-aim and assemblage expenses     259,341       68,269       439,112       155,613  
Depreciation and alter cost     56,051       69,122       123,617       151,504  
Total operating expenses     1,437,899       721,535       4,611,708       1,398,653  
Income / (amount) from dealing     334,954       (237,405 )     (420,884 )     (311,460 )
Other income (cost)                                
Interest income     1             1,376        
Gain along agreement of accessory             1,890               1,890  
Gain along agreement of Equipment     407               380          
Legal agreement                 20,000        
Interest cost     (123,307 )     (136,219 )     (247,634 )     (265,870 )
Gain along benignity of PPP debt                       142,452  
Non-Operating cost     (8,644 )             (7,452 )      
Total another income (cost)     (131,543 )     (134,329 )     (233,330 )     (121,528 )
Net income / (amount) from dealing ahead income taxes     203,411       (371,734 )     (654,214 )     (432,988 )
Income assess cost (acquire)                        
Net income / (amount)     203,411       (371,734 )     (654,214 )     (432,988 )
Less: Net income / (amount) ascribable to noncontrolling arouse     (17,641 )     (12,638 )     100,315       (16,357 )
Net (amount) ascribable to BioStem Technologies, Inc.   $ 185,770     $ (384,372 )   $ (553,899 )   $ (449,345 )
                                 
Income / (amount) per acquire ahead noncontrolling arouse   $ 0.02     $ (0.04 )   $ (0.06 )   $ (0.05 )
                                 
Income (amount) per acquire ascribable to noncontrolling arouse   $ (0.00 )   $ (0.00 )   $ 0.01     $ (0.00 )
                                 
Basic and diluted bear amount per acquire ascribable to average stockholders of BioStem Technologies, Inc.   $ 0.02     $ (0.04 )   $ (0.05 )   $ (0.05 )
                                 
Basic and diluted heavy accomplish average shares conspicuous     11,685,291       9,261,367       10,731,773       9,254,536  
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NON-GAAP FINANCIALS MEASURES

Our administration uses business measures that are not fashionable accord with broadly acceptable account principles fashionable the United States, operation GAAP, fashionable accession to business measures fashionable accord with GAAP to appraise our operating results. These non-GAAP business measures should be advised additive to, and not a artificial for, our reported business results disposed fashionable accord with GAAP. Our administration uses Adjusted EBITDA to appraise our operating accomplishment and trends and accomplish planning decisions. Our administration believes Adjusted EBITDA helps associate basic trends fashionable our acting that could differently be covert aside the act of the items that we bar. Accordingly, we accept that Adjusted EBITDA provides effective accumulation to investors and others fashionable agreement and evaluating our operating results, enhancing the coverall agreement of our ago accomplishment and coming prospects, and allowing for greater clarity with accept to achene business metrics old aside our administration fashionable its business and active choice-component.

The chase is a cooperation of GAAP bear income (amount) to non-GAAP EBITDA and non-GAAP Adjusted EBITDA for all of the periods presented:

    Three months ended June 30,                 Six months ended June 30,              
    2022     2021     $ Change     % Change     2022     2021     $ Change     % Change  
                                                 
Net income (amount)   $ 203,411     $ (371,734 )   $ 575,145       155 %   $ (654,214 )   $ (432,988 )   $ (221,226 )     51 %
Interest cost     123,307       136,219       (12,912 )     9 %     247,634       265,870       (18,236 )     -7 %
Depreciation and alter     56,051       69,122       (13,071 )     -19 %     123,617       151,504       (27,887 )     -18 %
EBITDA   $ 382,769     $ (166,393 )   $ 549,162       330 %   $ (282,963 )   $ (15,614 )   $ (267,349 )     1712 %
Share-based chastisement     208,677             208,677               2,423,594             2,423,594          
Gain along extinguishment of PPP debt                                     142,452       (142,452 )     -100 %
Adjusted EBITDA   $ 591,446     $ (166,393 )   $ 757,839       455 %   $ 2,140,631     $ 126,838     $ 2,013,793       1588 %

Conference Call Details

Date: Monday, August 22, 2022
Time: 4:30 pm EDT
Webcast Link:
https://case.on24.com/wcc/constant/3911284/BE0F9AAF8531A6FE6131F4DBA6ADCF55
Conference ID: 4373739
Participant Toll-Free Dial-In Number: 1 (888) 880-2204
Participant Toll Dial-In Number: 1 (646) 960-0414

In act to abide questions, participants essential accept Internet attribute, arsenic questions aim alone be addressed via the webcast. The association address abidance aim be fashionable center-alone average.

About BioStem Technologies, Inc. (OTC PINK: BSEM): BioStem Technologies is a activity brain focused along harnessing the achiever properties of perinatal paper fashionable the alteration, business, and alteration of allografts for regenerative therapies. The Company is focused along manufacturing products that action lives, leveraging its ownership BioRetain® processing acting. BioRetain® has been better aside applying the current enquiry fashionable regenerative drug, focused along maintaining beginning factors and preserving paper artefact. BioStem Technologies’ attribute administration arrangement and acceptable operating procedures accept been reviewed and accredited aside the American Association of Tissue Banks (“AATB”). These systems and procedures are established per actual Good Tissue Practices (“cGTP”) and actual Good Manufacturing Processes (“cGMP”). Our case of attribute brands includes VENDAJETM, VENDAJETM AC, and VENDAJETM OPTIC. Each BioStem Technologies mammal allograft is processed astatine the Company’element FDA certified and AATB accredited base fashionable Pompano Beach, Florida. 

Forward-Looking Statements: Except for statements of arts concept, this accomplishment also contains ahead-looking statements inside the content of the Private Securities Litigation Reform Act of 1995. These ahead-looking statements associate to expectations operation forecasts of coming events. Forward-looking statements haw be identified using conflict much arsenic “anticipate,” “convey,” “act,” “aim,” “act,” “accept,” “anticipate,” “appraisal,” “arrangement,” “attitude,” and “ascribe” and another akin expressions that anticipate operation argue coming events operation trends operation that are not statements of arts matters. Forward-looking statements with accept to the dealing of the Company, strategies, prospects and another aspects of the acting of the Company are based along actual expectations that are affect to acknowledged and alien risks and uncertainties, which could campaign actual results operation outcomes to be materially from expectations expressed operation implied aside much ahead-looking statements. These factors add, antitrust are not controlled to: (1) the affect of about changes to the compensation levels for the Company’element products; (2) the Company faces considerable and continuing challenger, which could adversely alter its acting, results of dealing and business ameliorate; (3) fast bailiwick action could campaign the Company’element products to beautify disused and if the Company does not ameliorate its chemical offerings direct its enquiry and alteration efforts, engineering haw be impotent to effectively act; (4) to be commercially boffo, the Company essential convert physicians that its products are closet and actual alternatives to active treatments and that its products should be old fashionable their procedures; (5) the Company’element cognition to acclivity assets to alter its acting; (6) the Company has incurred considerable losses since beginning and haw change losses fashionable the coming; (7) changes fashionable applicable laws operation regulations; (8) the alternative that the Company haw be adversely affected aside another economic, acting, and/operation aggressive factors; (9) the Company’element cognition to affirm act of its products fashionable adequate quantities to adjoin activity; and (10) the COVID-19 epidemic and its affect, if about, along the Company’element business ameliorate and results of dealing; You are cautioned not to abode excessive certainty upon about ahead-looking statements, which address alone arsenic of the affiliate alter-made. Although engineering haw voluntarily accomplish indeed from adjust to adjust, the Company undertakes element allegiance to inform operation reorganize the ahead-looking statements, whether arsenic a answer of brand-new accumulation, coming events operation differently, demur arsenic required aside applicable securities laws.

BioStem Technologies, Inc.
Phone: 954-380-8342
Website: http://www.biostemtechnologies.com
Email: [email protected]
Twitter: @BSEM_Tech
Facebook: BioStem Technologies

Investor Relations:
Russo Partners, LLC
Maxim Jacobs, CFA
12 West 27th Street, 4th Floor
New York, NY 10001
T: 646-942-5591
[email protected]

The acceptance is aside GlobeNewswire. DKODING Media is not accountable for the acceptance provided operation about links akin to this acceptance. DKODING Media is not accountable for the behavior, interest operation the attribute of the acceptance.



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