CYTOMEDIX, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------------------ ------------------------- 2012 2011 2012 2011 ----------- ----------- ------------ -----------Revenues Product Sales $ 1,703,311 $ 1,532,378 $ 5,203,675 $ 4,292,285 License Fees -- -- 3,154,722 -- Royalties 56,000 -- 103,021 -- ----------- ----------- ------------ -----------Total revenues 1,759,311 1,532,378 8,461,418 4,292,285 ----------- ----------- ------------ -----------Cost of revenues Cost of sales 992,277 716,835 2,815,623 2,001,446 Cost of royalties 5,658 -- 10,774 -- ----------- ----------- ------------ -----------Total cost of revenues 997,935 716,835 2,826,397 2,001,446 ----------- ----------- ------------ -----------Gross profit 761,376 815,543 5,635,021 2,290,839 ----------- ----------- ------------ -----------Operating expenses Salaries and wages 1,745,520 718,291 5,586,743 2,177,764 Consulting expenses 501,058 312,696 1,784,401 947,929 Professional fees 336,446 136,455 1,002,947 586,606 Research, development, trials and studies 1,006,049 4,063 2,454,615 106,116 General and administrative expenses 1,380,449 676,264 4,082,400 2,225,355 ----------- ----------- ------------ -----------Total operating expenses 4,969,522 1,847,769 14,911,106 6,043,770 ----------- ----------- ------------ -----------Loss from operations (4,208,146) (1,032,226) (9,276,085) (3,752,931) ----------- ----------- ------------ -----------Other income (expense) Interest, net (262,008) (385,364) (797,140) (757,457) Change in fair value of derivative liabilities 689,264 (780,238) 442,743 (402,113) Change in fair value of contingent consideration -- -- (4,334,932) -- Gain on debt restructuring -- -- -- 576,677 Inducement expense -- -- (1,513,371) -- Settlement of contingency -- -- (471,250) -- Other 576 (4,525) (529) (58,110) ----------- ----------- ------------ -----------Total other income (expenses) 427,832 (1,170,127) (6,674,479) (641,003) ----------- ----------- ------------ -----------Loss before provision for income taxes (3,780,314) (2,202,353) (15,950,564) (4,393,934)Income tax provision 4,609 4,000 13,827 14,000 ----------- ----------- ------------ -----------Net loss (3,784,923) (2,206,353) (15,964,391) (4,407,934)Preferred dividends: Series A preferred stock -- 2,289 -- 6,730 Series B preferred stock -- 1,557 -- 4,579 Series D preferred stock -- 82,755 13,562 248,505 ----------- ----------- ------------ -----------Net loss to common stockholders $(3,784,923) $(2,292,954) $(15,977,953) $(4,667,748) =========== =========== ============ ===========Loss per common share -- Basic and diluted $ (0.04) $ (0.04) $ (0.20) $ (0.09) =========== =========== ============ ===========Weighted average shares outstanding -- Basic and diluted 91,214,635 52,276,521 78,502,867 49,664,005 =========== =========== ============ =========== CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) September 30, December 31, 2012 2011 ------------- ------------- ASSETSCurrent assets Cash (including $3.2 million of cash in 2012 dedicated for clinical trials and related matters) $ 5,833,245 $ 2,246,050 Short-term investments, restricted 53,176 52,840 Accounts and other receivable, net 1,616,105 1,480,463 Inventory 1,122,433 548,159 Prepaid expenses and other current assets 701,167 695,567 Deferred costs, current portion 136,436 136,436 ------------- -------------Total current assets 9,462,562 5,159,515Property and equipment, net 2,506,111 978,893Deferred costs 214,892 317,219Intangible assets, net 34,226,871 2,916,042Goodwill 1,128,517 706,823 ------------- -------------Total assets $ 47,538,953 $ 10,078,492 ============= ============= LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities Accounts payable and accrued expenses $ 3,611,962 $ 1,849,133 Deferred revenues, current portion -- 654,721 Dividends payable on preferred stock -- 105,533 Derivative liabilities, current portion -- 528,467 ------------- -------------Total current liabilities 3,611,962 3,137,854Note payable 2,100,000 2,100,000Derivative and other liabilities 1,635,469 1,559,055 ------------- -------------Total liabilities 7,347,431 6,796,909 ------------- -------------Commitments and contingenciesStockholders' equity Series A Convertible preferred stock; $.0001 par value, authorized 5,000,000 shares; 2012 issued and outstanding - 0 shares; 2011 issued and outstanding - 97,663 shares; 2012 liquidation preference of $0; 2011 liquidation preference of $97,663 -- 10 Series B Convertible preferred stock; $.0001 par value, authorized 5,000,000 shares; 2012 issued and outstanding - 0 shares; 2011 issued and outstanding - 65,784 shares; 2012 liquidation preference of $0; 2011 liquidation preference of $65,784 -- 7 Series D Convertible preferred stock; $.0001 par value, authorized 2,000,000 shares; 2012 issued and outstanding - 0 shares; 2011 issued and outstanding - 3,300 shares; 2012 liquidation preference of $0; 2011 liquidation preference of $3,300,000 -- -- Series E Convertible preferred stock; $.0001 par value, authorized 250,000 2012 issued and outstanding - 0 shares; 2011 issued and outstanding - 0 shares; 2012 liquidation preference of $0; 2011 liquidation preference of $0 -- -- Common stock; $.0001 par value, authorized 160,000,000 shares; 2012 issued and outstanding - 91,483,386 shares; 2011 issued and outstanding - 55,536,292 shares 9,148 5,554 Common stock issuable 506,950 -- Additional paid-in capital 106,821,973 54,458,170 Accumulated deficit (67,146,549) (51,182,158) ------------- -------------Total stockholders' equity 40,191,522 3,281,583 ------------- -------------Total liabilities and stockholders' equity $ 47,538,953 $ 10,078,492 ============= =============
Contacts:
Cytomedix, Inc.
Martin Rosendale
Chief Executive Officer
Andrew Maslan
Chief Financial Officer
David Jorden
Executive Chairman
(240) 499-2680
Media Inquiries
Michelle Linn
Linnden Communications
linnmich@comcast.net
(508) 362-3087
