Aptorum Group Limited Reports Financial Results and Business Update for the Six Months Ended June 30, 2019
“During the first six months of 2019,
Recent Business Updates
-
-
-
-
Upcoming Milestones
- For ALS-4,
Financial Results for the Six Months Ended
Research and development expenses were
General and administrative fees were
Legal and professional fees were
As of
On
About
For more information about the Company, please visit www.aptorumgroup.com.
Forward-Looking Statements
This press release includes statements concerning
APTORUM GROUP LIMITED CONSOLIDATED BALANCE SHEETS (Stated in U.S. Dollars) |
||||||||||||||||||||||||||||
|
|
|
As of June 30, 2019 |
|
|
As of December 31, 2018 |
||||||||||||||||||||||
|
|
|
(unaudited) |
|
|
|
||||||||||||||||||||||
ASSETS |
|
|
|
|
||||||||||||||||||||||||
Current assets: |
|
|
|
|
||||||||||||||||||||||||
Cash |
|
$ |
4,466,741 |
|
|
$ |
12,006,624 |
|||||||||||||||||||||
Restricted cash |
|
|
- |
|
|
|
14,100,614 |
|||||||||||||||||||||
Digital currencies |
|
|
117,482 |
|
|
|
- |
|||||||||||||||||||||
Accounts receivable |
|
|
8,367 |
|
|
|
2,827 |
|||||||||||||||||||||
Inventories |
|
|
33,911 |
|
|
|
30,642 |
|||||||||||||||||||||
Marketable securities, at fair value |
|
|
1,669,096 |
|
|
|
1,014,338 |
|||||||||||||||||||||
Investments in derivatives |
|
|
425,916 |
|
|
|
115,721 |
|||||||||||||||||||||
Amounts due from related parties |
|
|
- |
|
|
|
169,051 |
|||||||||||||||||||||
Due from brokers |
|
|
109,134 |
|
|
|
818,968 |
|||||||||||||||||||||
Other receivables and prepayments |
|
|
911,997 |
|
|
|
464,156 |
|||||||||||||||||||||
Total current assets |
|
|
7,742,644 |
|
|
|
28,722,941 |
|||||||||||||||||||||
Property, plant and equipment, net |
|
|
5,777,657 |
|
|
|
4,260,602 |
|||||||||||||||||||||
Non-marketable investments |
|
|
7,112,180 |
|
|
|
7,094,712 |
|||||||||||||||||||||
Intangible assets, net |
|
|
1,347,594 |
|
|
|
1,409,540 |
|||||||||||||||||||||
Amounts due from related parties |
|
|
50,000 |
|
|
|
50,000 |
|||||||||||||||||||||
Long-term prepayments |
|
|
2,048,570 |
|
|
|
3,417,178 |
|||||||||||||||||||||
Loan receivable |
|
|
571,975 |
|
|
|
- |
|||||||||||||||||||||
Other non-current asset |
|
|
89,750 |
|
|
|
119,667 |
|||||||||||||||||||||
Total Assets |
|
$ |
24,740,370 |
|
|
$ |
45,074,640 |
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||
LIABILITIES |
|
|
|
|
||||||||||||||||||||||||
Current liabilities: |
|
|
|
|
||||||||||||||||||||||||
Amounts due to related parties |
|
$ |
3,512 |
|
|
$ |
33,417 |
|||||||||||||||||||||
Accounts payable and accrued expenses |
|
|
548,433 |
|
|
|
1,247,147 |
|||||||||||||||||||||
Finance lease payable, current portion |
|
|
45,196 |
|
|
|
43,877 |
|||||||||||||||||||||
Warrant liabilities |
|
|
- |
|
|
|
753,118 |
|||||||||||||||||||||
Convertible debts |
|
|
- |
|
|
|
10,107,306 |
|||||||||||||||||||||
Total current liabilities |
|
|
597,141 |
|
|
|
12,184,865 |
|||||||||||||||||||||
Finance lease payable, non-current portion |
|
|
120,941 |
|
|
|
143,873 |
|||||||||||||||||||||
Total Liabilities |
|
$ |
718,082 |
|
|
$ |
12,328,738 |
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Commitments and contingencies |
|
|
- |
|
|
|
- |
|||||||||||||||||||||
EQUITY |
|
|
|
|
|
|
|
|||||||||||||||||||||
Class A Ordinary Shares ($1.00 par value; 60,000,000
|
|
$ |
6,597,362 |
|
|
$ |
6,537,269 |
|||||||||||||||||||||
Class B Ordinary Shares ($1.00 par value; 40,000,000 shares
|
|
|
22,437,754 |
|
|
|
22,437,754 |
|||||||||||||||||||||
Additional paid-in capital |
|
|
23,857,814 |
|
|
|
23,003,285 |
|||||||||||||||||||||
Accumulated other comprehensive gain (loss) |
|
|
7,345 |
|
|
|
(1,484,688) |
|||||||||||||||||||||
Accumulated deficit |
|
|
(27,957,689) |
|
|
|
(17,379,185) |
|||||||||||||||||||||
Total equity attributable to the shareholders of Aptorum Group Limited |
|
|
24,942,586 |
|
|
|
33,114,435 |
|||||||||||||||||||||
Non-controlling interests |
|
|
(920,298) |
|
|
|
(368,533) |
|||||||||||||||||||||
Total equity |
|
|
24,022,288 |
|
|
|
32,745,902 |
|||||||||||||||||||||
Total Liabilities and Equity |
|
$ |
24,740,370 |
|
|
$ |
45,074,640 |
|||||||||||||||||||||
APTORUM GROUP LIMITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Stated in U.S. Dollars) |
||||||
|
|
For the six months ended June 30, |
||||
|
|
2019 |
|
2018 |
||
|
|
(unaudited) |
|
(unaudited) |
||
Revenue |
|
|
|
|
|
|
Healthcare services income |
|
$ |
239,792 |
|
$ |
26,662 |
Operating expenses |
|
|
|
|
|
|
Costs of healthcare services |
|
|
(371,218) |
|
|
(22,749) |
Research and development expenses |
|
|
(2,714,217) |
|
|
(1,342,179) |
General and administrative fees |
|
|
(3,232,916) |
|
|
(2,238,025) |
Legal and professional fees |
|
|
(2,008,774) |
|
|
(1,063,032) |
Other operating expenses |
|
|
(120,788) |
|
|
(235,413) |
Total operating expenses |
|
|
(8,447,913) |
|
|
(4,901,398) |
|
|
|
|
|
|
|
Other loss |
|
|
|
|
|
|
Gain on investments in marketable securities, net |
|
|
315,977 |
|
|
- |
Gain on non-marketable investment |
|
|
1,147,199 |
|
|
- |
Gain (loss) on investments in derivatives, net |
|
|
310,195 |
|
|
(359,844) |
Realized gain on sale of digital currencies |
|
|
12,334 |
|
|
- |
Changes in fair value of warrant liabilities |
|
|
(866,300) |
|
|
- |
Gain on extinguishment of convertible debts |
|
|
1,198,490 |
|
|
- |
Interest expense, net |
|
|
(3,678,566) |
|
|
(301,362) |
Sundry income |
|
|
128,444 |
|
|
- |
Total other loss, net |
|
|
(1,432,227) |
|
|
(661,206) |
|
|
|
|
|
|
|
Net loss |
|
$ |
(9,640,348) |
|
$ |
(5,535,942) |
Less: net loss attributable to non-controlling interests |
|
|
(551,877) |
|
|
(47,570) |
|
|
|
|
|
|
|
Net loss attributable to Aptorum Group Limited |
|
$ |
(9,088,471) |
|
$ |
(5,488,372) |
|
|
|
|
|
|
|
Net loss per share – basic and diluted |
|
$ |
(0.31) |
|
$ |
(0.20) |
Weighted-average shares outstanding – basic and diluted |
|
|
28,978,151 |
|
|
27,864,135 |
|
|
|
|
|
|
|
Net loss |
|
$ |
(9,640,348) |
|
$ |
(5,535,942) |
Other Comprehensive income (loss) |
|
|
|
|
|
|
Unrealized loss on investments in available-for-sale securities |
|
|
- |
|
|
(178,027) |
Exchange differences on translation of foreign operations |
|
|
2,000 |
|
|
167 |
Other Comprehensive income (loss) |
|
|
2,000 |
|
|
(177,860) |
Comprehensive loss |
|
|
(9,638,348) |
|
|
(5,713,802) |
Less: comprehensive loss attributable to non-controlling interests |
|
|
(551,877) |
|
|
(47,570) |
Comprehensive loss attributable to the shareholders of Aptorum Group Limited |
|
|
(9,086,471) |
|
|
(5,666,232) |
View source version on businesswire.com: https://www.businesswire.com/news/home/20190909005073/en/
Source:
Investor relations:
Tel: +852 2117 6611
Email: investor.relations@aptorumgroup.com
Media:
Tel: + 852 2117 6611
Email: info@aptorumgroup.com