10-Q Filing

Cryoport, Inc. CIK: 1124524 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-059939`
Period End Date	20121231
Filing Date	20130214
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	cyrx-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 60 Cash Flow Statement 65

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$11.20K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$5.50K	USD	Point-in-time
Discount on convertible debentures, current	`DebtInstrumentUnamortizedDiscount`	-	USD	Point-in-time
Discount on convertible debentures, current	`DebtInstrumentUnamortizedDiscount`	$8.84K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$585.11K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.62M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.80M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$251.37K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowances of $11,200 at December 31, 2012 and $5,500 at March 31, 2012	`AccountsReceivableNetCurrent`	$146.12K	USD	Point-in-time
Accounts receivable, net of allowances of $11,200 at December 31, 2012 and $5,500 at March 31, 2012	`AccountsReceivableNetCurrent`	$201.14K	USD	Point-in-time
Inventories	`InventoryNet`	$51.75K	USD	Point-in-time
Inventories	`InventoryNet`	$55.46K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$57.03K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$65.97K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$898.73K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.13M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$682.02K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$524.08K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.76M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.76M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$294.55K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$379.08K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20,000.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.76M	shares	Point-in-time
Deposits and other assets	`DepositsAndOtherAssets`	$19.74K	USD	Point-in-time
Deposits and other assets	`DepositsAndOtherAssets`	$19.74K	USD	Point-in-time
Total assets	`Assets`	$6.21M	USD	Point-in-time
Total assets	`Assets`	$1.74M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$678.09K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$401.40K	USD	Point-in-time
Accrued compensation and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$168.47K	USD	Point-in-time
Accrued compensation and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$236.00K	USD	Point-in-time
Convertible debentures payable and accrued interest, net of discount of $0 at December 31, 2012 and $8,843 at March 31, 2012	`ConvertibleDebtCurrent`	$337.90K	USD	Point-in-time
Current portion of related party notes payable	`NotesPayableRelatedPartiesClassifiedCurrent`	$96.00K	USD	Point-in-time
Current portion of related party notes payable	`NotesPayableRelatedPartiesClassifiedCurrent`	$96.00K	USD	Point-in-time
Derivative liabilities	`DerivativeInstrumentsAndHedgesLiabilities`	$37.33K	USD	Point-in-time
Derivative liabilities	`DerivativeInstrumentsAndHedgesLiabilities`	$9.62K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$952.18K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.11M	USD	Point-in-time
Related party notes payable and accrued interest, net of current portion	`NotesPayableRelatedPartiesNoncurrent`	$1.38M	USD	Point-in-time
Related party notes payable and accrued interest, net of current portion	`NotesPayableRelatedPartiesNoncurrent`	$1.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.48M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 2,500,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 2,500,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 250,000,000 shares authorized; 37,760,628 shares issued and outstanding at December 31, 2012 and March 31, 2012	`CommonStockValue`	$37.76K	USD	Point-in-time
Common stock, $0.001 par value; 250,000,000 shares authorized; 37,760,628 shares issued and outstanding at December 31, 2012 and March 31, 2012	`CommonStockValue`	$37.76K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$64.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$63.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-64.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-59.93M	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$-550.73K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$3.73M	USD	Point-in-time
Total liabilities and stockholders' (deficit) equity	`LiabilitiesAndStockholdersEquity`	$1.74M	USD	Point-in-time
Total liabilities and stockholders' (deficit) equity	`LiabilitiesAndStockholdersEquity`	$6.21M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$378.72K	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$144.25K	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$732.05K	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$307.15K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.06M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$344.70K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.07M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$368.80K	USD	1 Quarter
Gross loss	`GrossProfit`	$-61.64K	USD	1 Quarter
Gross loss	`GrossProfit`	$-334.80K	USD	3 Qtrs
Gross loss	`GrossProfit`	$-200.45K	USD	1 Quarter
Gross loss	`GrossProfit`	$-683.81K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.93M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.00M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.74M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.39M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$94.42K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$346.64K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$305.03K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$120.70K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.28M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$1.86M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.49M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.31M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.96M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.55M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.64M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.06M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$12.51K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$698.00	USD	1 Quarter
Interest expense	`InterestExpense`	$11.90K	USD	1 Quarter
Interest expense	`InterestExpense`	$48.26K	USD	3 Qtrs
Interest expense	`InterestExpense`	$320.04K	USD	3 Qtrs
Interest expense	`InterestExpense`	$78.97K	USD	1 Quarter
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$109.15K	USD	3 Qtrs
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$60.19K	USD	1 Quarter
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$27.71K	USD	3 Qtrs
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$-6.11K	USD	1 Quarter
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-18.01K	USD	1 Quarter
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-198.38K	USD	3 Qtrs
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-20.54K	USD	3 Qtrs
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-18.09K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.66M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.57M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.08M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.16M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$1.60K	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$1.60K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-6.16M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.57M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.67M	USD	3 Qtrs
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	3 Qtrs
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	3 Qtrs
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	27.97M	shares	3 Qtrs
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.76M	shares	3 Qtrs
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.76M	shares	1 Quarter
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	28.25M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.16M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.57M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.67M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$250.74K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$307.26K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$170.54K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$8.84K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$42.61K	USD	1 Quarter
Fair value of stock options and warrants issued to employees, directors and consultants	`FairValueOfStockOptionsAndWarrantsIssuedToConsultantsEmployeesAndDirectors`	$-488.82K	USD	3 Qtrs
Fair value of stock options and warrants issued to employees, directors and consultants	`FairValueOfStockOptionsAndWarrantsIssuedToConsultantsEmployeesAndDirectors`	$-527.98K	USD	3 Qtrs
Change in fair value of derivative instruments	`UnrealizedGainLossOnDerivatives`	$109.15K	USD	3 Qtrs
Change in fair value of derivative instruments	`UnrealizedGainLossOnDerivatives`	$60.19K	USD	1 Quarter
Change in fair value of derivative instruments	`UnrealizedGainLossOnDerivatives`	$27.71K	USD	3 Qtrs
Change in fair value of derivative instruments	`UnrealizedGainLossOnDerivatives`	$-6.11K	USD	1 Quarter
Loss on disposal of Cryogenic shippers	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-6.38K	USD	3 Qtrs
Interest accrued on restricted cash	`InterestAccruedOnRestrictedCash`	$274.00	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$55.01K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$27.91K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$3.71K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.91K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-8.94K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-155.94K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$338.48K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$301.43K	USD	3 Qtrs
Accrued compensation and related expenses	`IncreaseDecreaseInAccruedCompensationAndRelatedExpense`	$67.53K	USD	3 Qtrs
Accrued compensation and related expenses	`IncreaseDecreaseInAccruedCompensationAndRelatedExpense`	$-150.45K	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$36.19K	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$19.62K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.68M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.67M	USD	3 Qtrs
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$125.21K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$71.17K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$243.86K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-369.07K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-71.17K	USD	3 Qtrs
Repayments of convertible debentures payable	`RepaymentsOfConvertibleDebenturesPayable`	$82.80K	USD	3 Qtrs
Repayments of convertible debentures payable	`RepaymentsOfConvertibleDebenturesPayable`	$1.78M	USD	3 Qtrs
Payment of deferred financing costs	`PaymentsOfFinancingCosts`	$128.28K	USD	3 Qtrs
Payment of deferred financing costs	`PaymentsOfFinancingCosts`	$158.27K	USD	3 Qtrs
Proceeds from exercise of warrants	`ProceedsFromIssuanceOfWarrants`	$571.63K	USD	3 Qtrs
Repayments of related party notes payable	`RepaymentsOfRelatedPartyNotesPayable`	$72.00K	USD	3 Qtrs
Repayments of related party notes payable	`RepaymentsOfRelatedPartyNotesPayable`	$78.00K	USD	3 Qtrs
Payment on line of credit	`LineOfCreditFacilityPeriodicPayment`	$-90.00K	USD	3 Qtrs
Proceeds from release of restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$91.44K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.44M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-283.07K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.48M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.03M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$585.11K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.62M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.28M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$585.11K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.62M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.28M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.80M	USD	Point-in-time
Interest	`InterestPaid`	$15.68K	USD	3 Qtrs
Interest	`InterestPaid`	$113.31K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$1.60K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$1.60K	USD	3 Qtrs
Offering costs in connection with equity financing included in accounts payable	`OfferingCostsInConnectionWithEquityFinancingIncludedInAccountsPayable`	$53.75K	USD	3 Qtrs
Cashless exercise of warrants	`CashlessExerciseOfWarrants`	$36.00	USD	3 Qtrs
Release of restricted cash for repayment of convertible debentures payable	`ReleaseOfRestrictedCashForRepaymentOfConvertibleDebenturesPayable`	$251.37K	USD	3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.