Quarterly ResultMay 14, 2026, 12:41 PM
Cell Source Reports Q1 Net Loss of $1.48M; Raises Going Concern Doubt
AI Summary
Cell Source, Inc. reported a net loss of $1.48 million for Q1 2025, an increase from $1.28 million in Q1 2024. The company's financial condition, including a working capital deficiency of $20.14 million and significant past due notes payable, raises substantial doubt about its ability to continue as a going concern. Management is actively negotiating to raise additional capital through debt and equity financings, having secured $3.25 million post-quarter end.
Key Highlights
- Reported a net loss of $1.48 million for Q1 2025, up from $1.28 million in Q1 2024.
- Working capital deficiency reached $20.14 million as of March 31, 2025.
- Accumulated deficit stood at $47.66 million as of March 31, 2025.
- Cash balance significantly decreased to $1,240 as of March 31, 2025, from $74,631.
- Notes payable with principal amounts totaling $6.33 million were past due as of March 31, 2025.
- Used $600,391 in cash from operations in Q1 2025, compared to $173,852 in Q1 2024.
- Subsequent to quarter-end, raised $2.84 million from notes payable and $410,000 from equity.