What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2022-08-15 compared with 2022-05-20 · 42 added, 23 removed, 161 unchanged (29% of the section changed)

1 unchanged sentence

LIFESCIENCES, INC.

OF MARCH 31, 2022 AND DECEMBER 31, 2021 (UNAUDITED)

March 31, 2022

OF JUNE 30, 2022 AND DECEMBER 31, 2021 (UNAUDITED)

June 30, 2022

December 31, 2021

10 unchanged sentences

100,000,000 shares authorized;

12,951,453 and 13,147,829 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively

12,774,809 and 13,147,829 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively

Additional paid-in capital

7 unchanged sentences

OF OPERATIONS

THE THREE MONTHS ENDED MARCH 31, 2022 AND 2021 (UNAUDITED)

Three Months Ended March 31,

THE THREE AND SIX MONTHS ENDED JUNE 30, 2022 AND 2021 (UNAUDITED)

Three Months Ended June 30,

Six Months Ended June 30,

Operating expenses

3 unchanged sentences

Loss from operations

( 1,989,203 )

Interest Income

7 unchanged sentences

OF STOCKHOLDERS’ EQUITY

THE THREE MONTHS ENDED MARCH 31, 2022 AND 2021 (UNAUDITED)

Stockholders’

THE THREE AND SIX MONTHS ENDED JUNE 30, 2022 AND 2021 (UNAUDITED)

Preferred Stock

6 unchanged sentences

$ ( 29,673,961 )

Stock-based compensation

Balances, June 30, 2021

$ ( 30,423,706

Balances, December 31, 2021

8 unchanged sentences

$ ( 35,617,157 )

Stock-based compensation

Repurchase of common stock via stock buy back program, net of costs

Balances, June 30, 2022

$ ( 36,363,230

accompanying notes to unaudited financial statements.

1 unchanged sentence

OF CASH FLOWS

THE THREE MONTHS ENDED MARCH 31, 2022 AND 2021 (UNAUDITED)

Three Months Ended

THE SIX MONTHS ENDED JUNE 30, 2022 AND 2021 (UNAUDITED)

Six Months Ended

Operating activities:

9 unchanged sentences

( 2,480,163 )

( 1,132,589 )

Financing activities:

32 unchanged sentences

and Diluted Loss per Share

of March 31, 2022 and 2021, the Company had common stock equivalents related to warrants outstanding to acquire 20,174 and 100,870 shares

of June 30, 2022 and 2021, the Company had common stock equivalents related to warrants outstanding to acquire 20,174 and 100,870 shares

of the Company’s common stock, respectively.

of March 31, 2022 and 2021, the Company has no common stock equivalents related to convertible preferred stock issued and outstanding.

of June 30, 2022 and 2021, 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

Three Months Ended

Six Months Ended

Basic and diluted net loss per share calculation:

1 unchanged sentence

( 2,715,701 )

( 1,346,753 )

Change in fair value of warrants

1 unchanged sentence

( 2,715,701 )

( 1,346,753 )

Weighted average common shares outstanding, basic and diluted

1 unchanged sentence

Related Party Transactions

expenses have been accrued and incurred by management, which total $ 20,323 as of March 31, 2022 and $ 164,327 as of December 31, 2021.

expenses have been accrued and incurred by management, which total $ 8,289 as of June 30, 2022 and $ 164,327 as of December 31, 2021.

Commitments and Contingencies

11 unchanged sentences

for the Company’s clinical trials.

payable includes accrued interest obligations to HJF which total $ 220,845 as of March 31, 2022 and December 31, 2021.

payable includes accrued interest obligations to HJF which total $ 220,845 as of June 30, 2022 and December 31, 2021.

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 March 31, 2022, 746,469 shares of the 908,242 shares of the common stock grant had vested at approximately $ 1,679,555 value and 161,773

shares remain unvested and unrecognized at approximately $ 363,989 value.

An aggregate of 73,452 shares of common stock were vested at

approximately $ 165,267 value in January, February, and March 2022 in consideration for services rendered.

As of June 30, 2022, 819,825 shares of the 908,242

shares of the common stock grant had vested at approximately $ 1,844,606 value and 88,417 shares remain unvested and unrecognized at approximately

$ 198,938 value.

An aggregate of 146,808 shares of common stock were vested at approximately $ 330,318 value from January through June 2022

in consideration for services rendered.

January 23, 2022, the Board of Directors authorized the Company’s management to implement a stock repurchase program for up to

3 unchanged sentences

may be suspended or discontinued at any time and will be funded using the Company’s working capital.

As of March 15, 2022,

As of June 30, 2022,

approximately 519,828

1 unchanged sentence

been repurchased and cancelled at an aggregate purchase price, including all transactions costs, of approximately $ 7,536,216 .

March 15, 2022, the Board of Directors indefinitely suspended the Company’s stock repurchase program.

January 23, 2022, the Board of Directors extended the lock-up of the shares owned by the Company’s directors, officers, and existing

3 unchanged sentences

of the Company’s common stock unless otherwise modified by the Board of Directors.

March 31, 2022, outstanding warrants to purchase shares of common stock accounted for as equity or liabilities were as follows with an

aggregate intrinsic value as of March 31, 2022 of $ 250,813 based on the March 31, 2022 closing share price of $ 19.62 :

June 30, 2022, 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, 2022 of $ 25,873 based on the June 30, 2022 closing share price of $ 8.47 :

Schedule of Outstanding Warrants

5 unchanged sentences

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

On June 22, 2022, 1,498,128 shares of common stock

were granted to employees, consultants, and directors issuable upon exercise of outstanding stock options under the Company’s 2019

Equity Incentive Plan at an exercise price of $ 7.63 per share, which was the closing share price on June 21, 2022.

The options had a fair

value on the grant date of $ 9,512,356 of which $ 59,452 was expensed through June 30, 2022 and $ 9,452,904 will be expensed in the future

if and as vesting occurs.

Vesting will be based on time of service over a four year period and certain additional performance milestones

for senior management, primarily related to the planned Phase III clinical trial.

Subsequent Events

July 11, 2022, the Board of Directors indefinitely suspended the Company’s stock repurchase program.

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