Attached files
| file | filename |
|---|---|
| 8-K - FORM 8K - IMMUNE PHARMACEUTICALS INC | v443446_8k.htm |
Exhibit 99.1
Immune Pharmaceuticals Inc. and Subsidiaries
Pro forma Condensed Consolidated Balance Sheets
($ in thousands, except share and per share amounts)
| As Reported | Pro forma Adjustments | Pro forma | ||||||||||||||||||
| March 31, 2016 | Conversion of 247 Series D Preferred Stock | Sale of 6.0 million shares of common stock under the Capital Access Agreements | Costs Related to Capital Access Agreements | March 31, 2016 | ||||||||||||||||
| ASSETS | ||||||||||||||||||||
| Current Assets | ||||||||||||||||||||
| Cash & cash equivalents | $ | 1,087 | - | 1575 | (40 | ) | $ | 2,622 | ||||||||||||
| Restricted cash | 28 | - | - | - | 28 | |||||||||||||||
| Other current assets | 265 | - | - | - | 265 | |||||||||||||||
| Total current assets | 1,380 | - | 1,575 | (40 | ) | 2,915 | ||||||||||||||
| Property and equipment, net | 355 | - | - | - | 355 | |||||||||||||||
| In-process research and development acquired | 27,500 | - | - | - | 27,500 | |||||||||||||||
| Intangible assets, net | 3,034 | - | - | - | 3,034 | |||||||||||||||
| Other assets | 339 | - | - | - | 339 | |||||||||||||||
| Total Assets | $ | 32,608 | - | 1,575 | (40 | ) | $ | 34,143 | ||||||||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||
| Trade payable | 2,886 | - | - | - | 2,886 | |||||||||||||||
| Accrued expenses | 2,431 | - | - | 149 | 2,580 | |||||||||||||||
| Notes and loans payable, current portion, net of debt discount | 1,344 | - | - | - | 1,344 | |||||||||||||||
| Obligations under capital lease, current portion | 90 | - | - | - | 90 | |||||||||||||||
| Total current liabilities | 6,751 | - | - | 149 | 6,900 | |||||||||||||||
| Notes and loans payable, net of current portion and debt discount | 2,704 | - | - | - | 2,704 | |||||||||||||||
| Obligations under capital lease, net of current portion | 91 | - | - | - | 91 | |||||||||||||||
| Series D Preferred Stock derivative liability | 6,208 | (1,675 | ) | - | - | 4,533 | ||||||||||||||
| Deferred tax liability | 10,870 | - | - | - | 10,870 | |||||||||||||||
| 19,873 | (1,675 | ) | - | - | 18,198 | |||||||||||||||
| Total liabilities | 26,624 | (1,675 | ) | - | 149 | 25,098 | ||||||||||||||
| Series D Preferred Stock, par value $0.0001, 12,000 shares authorized (1) | 1,545 | (442 | ) | - | - | 1,103 | ||||||||||||||
| Commitments and contingencies | ||||||||||||||||||||
| Stockholders' Equity | ||||||||||||||||||||
| Common Stock, $0.0001 par value, 225,000,000 shares authorized (2) | 4 | 2 | 1 | - | 7 | |||||||||||||||
| Additional paid-in capital | 72,553 | 2,115 | 1574 | (189 | ) | 76,053 | ||||||||||||||
| Accumulated deficit | (68,118 | ) | - | - | - | (68,118 | ) | |||||||||||||
| Total stockholders' equity | 4,439 | 2,117 | 1,575 | (189 | ) | 7,942 | ||||||||||||||
| Total liabilities and stockholders' equity | $ | 32,608 | - | 1,575 | (40 | ) | $ | 34,143 | ||||||||||||
| (1) | 1,263 shares issued and 863 shares outstanding as reported March 31, 2016, 1,263 shares issued 616 shares outstanding as pro forma March 31, 2016. |
| (2) | 36,185,761 and 55,599,207 shares outstanding as reported and pro forma March 31, 2016, respectively. |