Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Nov. 30, 2018
CURRENT ASSETS:      
Cash and cash equivalents $ 14,361 $ 14,612 $ 16,064
Restricted cash 401 387 392
Accounts receivable, net 5,975 3,226 4,151
Prepaid expenses and other receivables 986 1,132 913
GPP receivable 0 6,600 6,600
Grants receivable 217 441 441
Inventory 1,992 1,660 1,736
Total current assets 23,932 28,058 30,297
NON-CURRENT ASSETS:      
Deposits 569 143 85
Loans to related party 2,033 1,012 1,007
Property and equipment, net 12,783 12,458 11,901
Intangible assets, net 15,823 16,642 16,700
Operating lease right-of-use assets 14,354 0 0
Goodwill 15,002 15,266 15,165
Other assets 274 297 292
Total non-current assets 60,838 45,818 45,150
TOTAL ASSETS 84,770 73,876 75,447
CURRENT LIABILITIES:      
Accounts payable 5,522 4,583 3,804
Accrued expenses and other payables 1,525 1,499 2,060
Employees and related payables 3,034 3,052 3,006
Related parties 92 0 0
Advance payments on account of grant 1,510 1,603 1,724
Short-term loans and current maturities of long- term loans 631 641 647
Contract liabilities 7,533 5,175 5,317
Current maturities of long-term finance leases 232 226 209
Current maturities of operating leases 1,291 0 0
Current maturities of convertible loans 382 382 378
Total current liabilities 21,752 17,161 17,145
LONG-TERM LIABILITIES:      
Non-current operating leases 11,816 0 0
Loans payable 1,510 1,633 1,662
Convertible loans 1,242 1,214 1,038
Retirement benefits obligation 304 280 265
Deferred taxes 1,578 1,656 1,702
Long-term finance leases 641 661 638
Other long-term liabilities 293 297 195
Total long-term liabilities 17,384 5,741 5,500
TOTAL LIABILITIES 39,136 22,902 22,645
COMMITMENTS REDEEMABLE NON-CONTROLLING INTEREST EQUITY: 24,233 24,224 24,153
EQUITY:      
Common stock of $0.0001 par value, 145,833,334 shares authorized, 16,102,000, 15,540,333 and 14,951,783 shares issued and outstanding as of March 31, 2019, December 31, 2018 and November 30, 2018, respectively 2 2 1
Additional paid-in capital 94,049 90,597 88,082
Receipts on account of shares to be allotted 0 0 2,253
Accumulated other comprehensive income 185 669 425
Accumulated deficit (73,474) (65,163) (62,411)
Equity attributable to Orgenesis Inc. 20,762 26,105 28,350
Non-controlling interest 639 645 299
Total equity 21,401 26,750 28,649
TOTAL LIABILITIES AND EQUITY $ 84,770 $ 73,876 $ 75,447