$BSEM

BioStem Technologies, Inc.

CIK:0001658678|SEC Filings

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 7,899,249	$ 10,963,174	$ 14,034,779	$ 26,930,195
Cost of goods sold	3,058,588	685,177	5,434,627	1,538,615
Gross profit	4,840,661	10,277,997	8,600,152	25,391,580
Sales and marketing	5,321,885	1,275,150	9,067,472	2,398,528
General and administrative	6,496,530	6,871,997	13,717,319	13,868,762
Research and development	733,616	1,957,352	1,870,845	3,647,506
Depreciation and amortization	689,317	60,739	1,229,754	114,700
Total operating expenses	13,241,348	10,165,238	25,885,390	20,029,496
(Loss) income from operations	(8,400,687)	112,759	(17,285,238)	5,362,084
Other (expense) income
Interest income, net	23,362	64,785	87,037	93,332
Other (expense) income	(594,035)	409	(592,864)	3,070
Other (expense) income, net	(570,673)	65,194	(505,827)	96,402
Total (loss) income from operations before income taxes	(8,971,360)	177,953	(17,791,065)	5,458,486
Income tax expense	0	(167,340)	0	(1,539,751)
Net (loss) income	$ (8,971,360)	$ 10,613	$ (17,791,065)	$ 3,918,735
Basic (loss) income per common share	$ (0.52)	$ 0	$ (1.04)	$ 0.23
Diluted (loss) income per common share	$ (0.52)	$ 0	$ (1.04)	$ 0.17
Weighted-average number of common shares (denominator)	17,327,652	16,708,776	17,090,140	16,689,537
Weighted-average number of common shares	17,327,652	23,419,726	17,090,140	23,508,268

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (17,791,065)	$ 3,918,735
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation expense	64,600	52,967
Amortization expense	1,165,154	61,734
Amortization of debt discount	0	63,607
Amortization of right-of-use asset	106,716	53,559
Stock-based compensation expense	3,914,096	4,872,564
Fair value adjustment to contingent consideration	1,412,000	0
Gain on extinguishment of debt	(815,250)	0
Deferred tax benefit	0	(527,450)
Changes in operating assets and liabilities:
Accounts receivable	3,253,111	8,065,416
Inventory	(1,834,615)	(636,397)
Prepaid expenses and other assets	(364,256)	(856,192)
Accounts payable and accrued expenses	4,911,963	(279,938)
License fees payable	(295,200)	(1,916,925)
Income tax payable	(31,512)	(3,498,045)
Accrued interest	99,083	133,403
Other current and long-term liabilities	(158,802)	(10,697)
Net cash (used in) provided by operating activities	(6,363,977)	9,496,341
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment and construction-in- process	(57,925)	(497,150)
Cash paid in business combination	(15,018,371)	0
Net cash used in investing activities	(15,076,296)	(497,150)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on notes payable	(3,500,000)	(1,021,351)
Proceeds from issuance of common stock	2,500,000	0
Cash paid to third parties for issuance of common stock	(146,253)
Issuance of common stock for warrant exercise	0	33,334
Net cash used in financing activities	(1,146,253)	(988,017)
Cash and cash equivalents:
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Excluding Exchange Rate Effect, Including Discontinued Operation, Total	(22,586,526)	8,011,174
Balance, beginning of period	29,549,018	22,832,706
Balance, end of period	6,962,492	30,843,880
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	2,316,475	12,717
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Construction-in-process transferred to property and equipment	513,651	21,184
Initial ROU asset and operating lease liability	0	214,220
Non-cash contingent consideration payable	8,588,000	0
Development Of Internal-Use Software In Accounts Payable	104,575	0
Promissory note in conjunction with debt extinguishment (Note 10)	$ 1,000,000	$ 0

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 6,962,492	$ 29,549,018
Accounts receivable, net of allownace of $9,023,768 as of June 30, 2026 and December 31, 2025, respectively	6,621,357	9,874,468
Inventory	4,711,775	2,877,160
Prepaid expenses and other assets	2,485,430	2,102,803
Total current assets	20,781,054	44,403,449
Long-Term Assets
Property and equipment, net	4,419,563	3,970,513
Construction-in-process	505,307	961,032
Right-of-use asset, net	220,551	327,267
Intangible assets, net	21,359,186	119,765
Goodwill	1,532,635	244,635
Total assets	48,818,296	50,026,661
Current Liabilities
Accounts payable and accrued expenses	9,457,957	4,441,419
License fees payable	434,775	729,975
Income tax payable	0	31,512
Accrued interest	11,333	2,227,500
Operating lease liabilities	222,471	225,768
Notes payable	1,000,000	3,000,000
Contingent consideration payable	10,000,000	0
Other current liabilities	75,808	127,406
Total current liabilities	21,202,344	10,783,580
Long-Term Liabilities
Operating lease liabilities, less current portion	1,355	105,262
Total long-term liabilities	1,355	105,262
Total liabilities	21,203,699	10,888,842
Commitments and contingencies (Note 13)
Stockholders' Equity
Common stock, $0.001 par value; authorized 975,000,000 shares; issued and outstanding 17,839,467 and 16,825,716 shares as of June 30, 2026 and December 31, 2025, respectively.	17,841	16,827
Additional paid-in capital	66,605,483	60,338,654
Treasury stock, 18,000 shares at cost	(43,346)	(43,346)
Accumulated deficit	(38,965,381)	(21,174,316)
Total stockholders' equity	27,614,597	39,137,819
Total liabilities and stockholders' equity	48,818,296	50,026,661
Series A-1 Convertible Preferred Shares
Stockholders' Equity
Preferred Stock Value	0	0
Series B-1 Convertible Preferred Shares
Stockholders' Equity
Preferred Stock Value	$ 0	$ 0