What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2021-11-15 compared with 2021-08-13 · 63 added, 52 removed, 157 unchanged (42% of the section changed)

1 unchanged sentence

LIFESCIENCES, INC.

OF JUNE 30, 2021 AND DECEMBER 31, 2020

OF SEPTEMBER 30, 2021 (UNAUDITED AND DECEMBER 31, 2020

September 30, 2021

December 31, 2020

2 unchanged sentences

Acquired patents, net

Liabilities and stockholders’ equity

Liabilities and stockholders’ deficit

Current liabilities

7 unchanged sentences

100,000,000 shares authorized;

12,920,253 and 12,703,541 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively

12,993,609 and 12,703,541 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively

Additional paid-in capital

7 unchanged sentences

OF OPERATIONS

THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (UNAUDITED)

THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020 (UNAUDITED)

Three Months Ended

Six Months Ended

September 30,

Nine Months Ended

September 30,

Operating expenses

15 unchanged sentences

OF STOCKHOLDERS’ EQUITY (DEFICIT)

THE THREE AND SIX MONTHS ENDED JUNE, 2021 AND 2020 (UNAUDITED)

THE THREE AND NINE MONTHS ENDED SEPTEMBER, 2021 AND 2020 (UNAUDITED)

Preferred Stock

Stockholders’

Total Stockholders’

Paid-in Capital

5 unchanged sentences

Stock-based compensation

Issuance of common stock in initial public offering, net of offering costs

Issuance of common stock in initial public offering, net of offering costs, shares

Additional preferred stock issued due to anti-dilution

Additional preferred stock issued due to anti-dilution, shares

Conversion of preferred to common stock

Conversion of preferred to common stock, shares

Exercise of common stock from Green Shoe of follow-on offering, net of offering costs

7 unchanged sentences

( 1,457,603 )

Stock-based compensation

Issuance of common stock in initial public offering, net of offering costs

Additional preferred stock issued due to anti-dilution

Conversion of preferred to common stock

( 2,022,769 )

Balances, September 30, 2020

$ ( 27,925,927 )

Balances, December 31, 2020

4 unchanged sentences

( 29,673,961 )

Balance, value

( 29,673,961 )

2 unchanged sentences

( 30,423,706 )

Balance, value

Beginning balances, value

( 30,423,706 )

Stock-based compensation

Balances, September 30, 2021

$ ( 31,286,824 )

accompanied notes to unaudited financial statements.

1 unchanged sentence

OF CASH FLOWS

THE SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (UNAUDITED)

Six Months Ended

THE NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020 (UNAUDITED)

Nine Months Ended September 30,

Operating activities:

12 unchanged sentences

Repayment to related party/shareholder

Net proceeds from initial public offering of common stock

Net cash provided by (used in) financing activities

2 unchanged sentences

Cash, end of period

Non-cash investing and financing activities:

Conversion of preferred stock to common

Issuance of preferred stock due to antidilution

accompanied notes to unaudited financial statements.

21 unchanged sentences

and Diluted Loss per Share

of June 30, 2021, the Company has common stock equivalents related to warrants outstanding to acquire 100,870 shares of the Company’s

common stock.

As of June 30, 2020, the Company had no warrants.

of June 30, 2021, the Company has no common stock equivalents related to convertible preferred stock issued and outstanding.

30, 2020, the Company had common stock equivalents related to 1,520,937 shares of the Company’s common stock issuable upon conversion

of the Company’s Series A Preferred Stock, 129,267 shares of the Company’s common stock issuable upon conversion of the Company’s

Series B Preferred Stock, 66,575 shares of the Company’s common stock issuable upon conversion of the Company’s Series C

Preferred Stock, and 263,586 shares of the Company’s common stock issuable upon conversion of the Company’s Series D Preferred

Stock issued and outstanding.

of September 30, 2021 and 2020, the Company has common stock equivalents related to underwriter warrants outstanding to acquire 100,870

shares of the Company’s common stock.

of September 30, 2021 and 2020, the Company has no common stock equivalents related to convertible preferred stock issued and outstanding.

following table sets forth the computation of basic and diluted net loss per common share for the periods indicated:

Schedule of Basic and Diluted Net Loss Per Common Share

Six Months Ended

Nine Months Ended

September 30,

Basic and diluted net loss per share calculation:

7 unchanged sentences

Related Party Transactions

expenses have been accrued and incurred by management, which total $ 25,017

as of June 30, 2021 and $ 59,367

of December 31, 2020.

Between January 1, 2021 and March 15, 2021, the Company paid off the remaining related party loans of $ 155,154

Snehal Patel and the Kenneth Hallock and Annette Hallock Revocable Trust, respectively.

expenses have been accrued and incurred by management, which total $ 159,274 as of September 30, 2021 and $ 59,367 as of December 31, 2020.

Between January 1, 2021 and March 15, 2021, the Company paid off the remaining related party loans of $ 155,154 and $ 120,000 to Snehal

Patel and the Kenneth Hallock and Annette Hallock Revocable Trust, respectively.

Commitments and Contingencies

11 unchanged sentences

for the Company’s clinical trials.

payable includes accrued patent and license obligations to HJF, including accrued interest, plus accrued expenses for manufacturing of

GP2 for the upcoming Phase III clinical trial, which total $ 627,577

as of June 30, 2021 and $ 710,971

of December 31, 2020.

Company paid HJF an aggregate total of $ 434,732 in July 2021 related to annual maintenance fees and reimbursement of patent expenses.

Accounts payable includes accrued patent and license obligations to HJF, including accrued interest, plus accrued expenses for manufacturing

of GP2 for the upcoming Phase III clinical trial, which total $ 295,845 as of September 30, 2021 and $ 710,971 as of December 31, 2020.

time to time, the Company may be involved in disputes, including litigation, relating to claims arising out of operations in the normal

11 unchanged sentences

Stockholders’ Equity

of June 30, 2021, 526,137

shares of the 908,242

shares of the common stock grant had vested at

approximately $ 1,183,785

value and 382,105

shares remain unvested and unrecognized at

approximately $ 859,736

An aggregate of 146,712

shares of common stock were vested at approximately

value in January through June 2021 in consideration

for services rendered.

of September 30, 2021, 599,493 shares

of the 908,242 shares

of the common stock grant had vested at approximately $ 1,348,859 value

and 308,749 shares

remain unvested and unrecognized at approximately $ 694,685 value.

An aggregate of 220,068 shares

of common stock were vested at approximately $ 495,153

value in January through September 2021 in consideration for services rendered.

January 29, 2021, in connection with our December 2020 follow-on offering, the underwriter exercised its option to purchase 70,000 additional

1 unchanged sentence

after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totaled $ 252,000 .

June 30, 2021, outstanding warrants to purchase shares of common stock accounted for as equity or liabilities were as follows with an

aggregate intrinsic value as of June 30, 2021 of $ 4,533,098

based on the June 30, 2021 closing share

price of $ 44.94 :

Schedule of Outstanding Warrants

September 30, 2021, outstanding underwriter warrants to purchase shares of common stock accounted for as equity or liabilities were as

follows with an aggregate intrinsic value as of September 30, 2021 of $ 3,940,991 based on the September 30, 2021 closing share price

of Outstanding Warrants

Shares Underlying

September 24, 2025

warrants are exercisable at any time and from time to time, in whole or in part, during a period commencing March 24, 2021 and expiring

September 24, 2025 .

The exercise price of the warrants is $ 7.1875 per share or $ 6.9718 per share if the warrants are exercised for

cash within the first six months of the period in which they are exercisable.

underwriter warrants are exercisable at any time and from time to time, in whole or in part, during a period commencing March 24,

2021 and expiring September 24, 2025.

The exercise price of the warrants is $ 7.1875 per share or $ 6.9718 per share if the warrants

are exercised for cash within the first six months of the period in which they are exercisable.

Subsequent Events

connection with the exclusive license agreement with HJF, the Company paid HJF an aggregate total of $ 434,732 in July 2021 related to

annual maintenance fees and reimbursement of patent expenses.

October 19, 2021, the underwriter warrants were partially exercised resulting in the issuance of 80,696 shares of common stock and gross

proceeds to the Company of $ 562,596 .

As of October 19, 2021, warrants to purchase 20,174 shares of common stock remain outstanding.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements