Immucell corp /de/ (ICCC)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES:
NET (LOSS) INCOME

-122,267

-310,451

-502,536

-627,155

144,555

-1,052,229

-249,956

-798,363

-221,123

-194,655

-339,345

-218,389

584,242

30,285

34,871

-9,156

452,448

288,807

351,292

94,058

479,082

130,627

10,330

-294,781

-13,335

-150,703

57,337

6,451

204,310

-16,863

-63,574

15,188

154,761

-530

-127,649

-258,218

-23,113

Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation

555,124

557,268

562,722

564,522

563,805

563,191

377,828

280,692

279,896

258,190

206,003

207,672

213,466

214,194

200,723

205,811

162,547

147,443

134,692

128,119

115,664

115,249

103,497

114,937

112,362

121,191

97,116

98,877

97,123

95,129

94,236

107,062

103,213

106,601

95,611

105,763

105,157

Amortization

4,776

4,776

4,776

4,776

4,776

4,776

4,776

4,776

4,776

4,776

4,776

4,776

4,776

3,795

-133

6,134

9,308

-2,074

636

718

720

718

720

719

719

719

737

719

719

720

718

719

719

719

1,149

1,686

1,686

Amortization and write-off of debt issuance costs

97,948

4,244

4,244

4,244

4,244

4,217

4,204

4,204

4,204

4,171

4,109

4,070

2,941

2,524

2,524

2,534

1,309

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-14,632

-7,112

7,440

15,333

9,023

14,545

-4,776

498,822

-46,276

-293,921

-169,942

-73,858

252,912

29,378

-10,914

-4,179

222,004

141,382

248,420

98,949

332,718

57,811

20,729

-181,366

14,236

-102,506

19,266

4,017

166,389

5,125

-31,344

11,621

108,968

1,677

-87,966

-215,074

-1,137

Stock-based compensation

77,404

91,575

68,653

70,081

82,835

86,319

89,706

96,943

71,048

51,748

46,922

54,350

46,763

17,087

21,360

20,044

8,908

5,397

6,342

7,005

4,478

7,739

4,974

9,933

7,358

7,098

7,940

7,940

8,381

8,505

9,463

9,361

8,656

10,138

10,298

9,825

7,911

Loss on disposal of fixed assets

-3,266

-

-

-

-

-

-

-

-

-1,340

0

0

3,663

-23,276

-2,109

0

0

0

-3,992

2,670

5,306

0

-2

-4,517

0

-35,143

1

0

-37

-

-

-

-

-

-

-

-

Non-cash rent expense

-1,490

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for uncollectible accounts

-

-

-

-

-

-

-

-

-

-

-

-

1,080

1,009

675

990

560

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in:
Trade accounts receivable, gross

238,618

750,460

-44,788

-351,603

350,798

-

-

-

-

471,420

163,669

-325,135

20,352

316,244

-269,463

-471,575

702,315

-35,110

57,892

-21,634

-250,438

441,728

135,138

-291,600

88,616

228,107

-154,379

-155,211

101,539

-

-

-

-

-

-

-

-

Accrued interest income

-21,932

-

-

-

-

-

-

-

-344,123

0

-2,582

-7,773

-13,658

3,948

1,583

3,326

5,934

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

77,022

-231,847

238,115

-

-70,757

1,943

20,301

Inventory

-920,298

-162,817

188,679

456,601

-295,878

81,729

413,048

-93,032

-119,806

-682,293

116,338

516,753

-27,965

360,503

537,519

247,976

-2,305

5,763

218,332

67,449

-367,092

-93,691

95,250

-3,129

-259,183

-284,016

-82,250

129,797

-206,025

-150,768

133,496

82,890

-83,081

-90,336

118,006

68,296

-30,517

Prepaid expenses and other current assets

215,513

-42,707

94,680

-97,644

119,420

-285,034

-16,532

85,645

87,072

-47,133

-17,147

-191,952

-33,584

-68,914

223,049

165,866

71,269

-67,488

-16,324

113,262

30,222

-188,224

94,033

92,671

-1,028

-960

-61,860

-27,763

44,666

57,225

-32,711

55,149

43,965

-19,224

-65,833

-65,391

-9,036

Other assets

-4,739

-2,361

22,277

2,609

-8,594

486

3,318

3,318

4,911

-34,264

0

920

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

-238,494

130,459

61,292

-314,167

33,705

138,707

240,871

-84,607

-214,809

186,371

252,868

-122,436

131,838

-81,811

191,290

-23,287

-167,112

152,693

64,743

-44,172

-112,903

99,568

-101,929

169,017

11,904

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-73,694

53,177

-22,969

-

-24,238

-9,485

-64,895

-27,498

-321,484

209,039

71,791

Accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-77,817

15,795

-68,510

-

55,059

-93,350

79,429

27,733

53,519

-66,716

44,943

Deferred revenue

-

-

-

-

-

-

-

-

-

24,100

0

0

-33,856

0

33,856

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

8,250

Net cash provided by operating activities

857,453

-46,622

-66,406

-330,658

677,197

-138,348

-505,937

21,219

249,662

330,707

-255,119

-155,119

1,255,354

-

-

253,298

-87,241

830,120

552,115

116,240

1,401,761

251,899

-279,408

25,034

304,839

83,834

79,373

490,153

445,300

163,063

-137,486

126,961

191,852

-

-357,938

-208,961

234,740

Purchase of property, plant and equipment

1,252,147

691,429

399,881

105,733

194,403

98,749

215,966

501,928

1,213,252

4,680,490

4,462,844

3,683,714

4,932,828

1,791,594

1,103,477

379,798

311,480

947,098

337,891

445,741

988,459

1,015,416

207,485

267,804

44,853

477,561

36,726

74,461

8,949

25,824

12,618

124,490

112,463

55,801

35,390

22,180

130,364

Maturities of investments

1,965,000

-

-

-

-

-

-

-

-

0

487,000

2,481,000

2,731,000

496,000

1,984,000

1,488,000

496,000

0

248,000

996,000

1,245,000

496,000

248,000

747,000

1,494,000

249,000

746,000

994,000

500,000

995,000

1,491,000

497,000

1,195,000

998,000

1,494,000

735,000

0

Proceeds from sale of fixed assets

600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of investments

-

-

-

-

-

-

-

-

-

0

0

0

249,000

747,000

0

2,232,000

1,984,000

744,000

2,471,000

1,240,000

0

0

248,000

996,000

1,741,000

496,000

248,000

1,245,000

1,245,000

0

746,000

994,000

500,000

995,000

1,491,000

497,000

1,195,000

Acquisition of certain business assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,431

101,588

0

368,219

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of contingent royalties related to 2016 acquisition

-

0

0

0

8,914

0

8,354

0

5,723

0

4,892

0

3,769

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of fixed assets

-

-

-

-

-

-

-

-

-

0

0

0

45,000

30,939

0

0

0

0

37,000

23,650

5,565

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of long-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by (used for) investing activities

713,453

4,202,571

1,340,119

-8,742,733

-203,317

-98,749

25,680

-501,928

-1,218,975

-4,680,490

-3,980,736

-1,202,714

-2,409,597

-2,011,655

778,935

-1,123,798

-2,167,699

-1,691,098

-2,523,891

-666,091

262,106

-519,416

-207,485

-516,804

-291,853

-724,561

461,274

-325,461

-753,949

969,176

732,382

-621,490

582,537

-52,801

-32,390

215,820

-1,325,364

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from public offering, net

-

0

0

0

8,303,436

-

-

-

-

-

-

-

-

0

0

0

5,313,223

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from debt issuance

8,600,000

-

-

-

-

0

426,499

0

267,141

3,122,017

2,184,343

500,000

340,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

600,000

Line of credit repayment

-

0

0

0

500,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt principal repayments

8,519,078

217,218

215,168

214,660

214,301

214,421

72,138

71,946

39,803

39,995

38,409

38,277

35,295

35,295

33,717

33,414

33,414

33,414

37,854

49,428

49,057

48,665

47,749

47,108

46,790

46,398

45,512

44,902

44,633

44,243

43,360

42,767

42,483

42,146

41,339

40,812

20,935

Payments of debt issuance costs

39,789

-

-

-

-

1,449

0

0

522

2,743

1,044

8,278

54,036

0

0

9,841

36,893

1,366

32,759

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

-

1

0

0

2

80,754

4,640

6,704

4,156

33,060

11,250

0

5,250

0

28,825

3,150

0

0

75,070

39,890

5,250

-1

0

0

3,150

21,750

0

0

0

0

0

0

50,800

17,125

97,800

30,370

0

Payments for public offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefits related to stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

419

0

0

6,842

950

6,164

7,404

0

Net cash provided by financing activities

41,133

-217,217

-215,168

-214,660

7,589,137

364,884

359,001

-65,242

230,972

5,843,330

2,693,487

953,445

255,919

3,125,628

-4,892

-40,105

5,242,916

-34,781

2,515,684

4,942

-43,807

-48,666

-47,749

-47,108

-43,640

-24,250

-45,512

-44,902

-44,633

-43,824

-43,360

-42,767

15,159

-24,071

62,625

-3,038

579,065

NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

1,612,039

3,938,732

1,058,545

-9,288,051

8,063,017

127,787

-121,256

-545,951

-738,341

1,493,547

-1,542,368

-404,388

-898,324

741,929

757,716

-910,605

2,987,976

-895,759

543,908

-544,909

1,620,060

-316,183

-534,642

-538,878

-30,654

-664,977

495,135

119,790

-353,282

1,088,415

551,536

-537,296

789,548

217,972

-327,703

3,821

-511,559

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
CASH PAID FOR:
Income taxes

-

-

-

-

-

-

-

-

-

2,066

0

4,000

0

-1,541

0

124,000

1,125

-467

800

0

2,800

-1,500

0

1,500

252

0

0

0

0

103

-38,266

38,719

152

-301

-56

-255

102

Interest expense

256,420

95,613

105,165

107,951

112,227

108,807

104,760

100,655

89,313

63,508

46,782

39,696

36,556

37,411

38,267

38,702

38,713

38,835

12,004

13,270

13,050

13,642

14,655

14,941

15,175

15,897

85,613

-17,168

-17,327

18,044

57,259

-19,208

19,586

-20,087

-20,809

-54,382

16,541

NON-CASH ACTIVITIES:
Change in capital expenditures included in accounts payable and accrued expenses

384,631

152,730

14,286

3,209

-72,695

21,269

44,387

-60,063

-574,288

-1,894,762

-423,847

2,109,677

-399,541

1,084,717

-164,587

227,544

100,678

-36,455

-22,647

-39,183

-151,588

167,352

103,239

-211,070

191,862

-44,605

63,550

12,907

-8,357

-21,212

2,256

13,813

9,693

15,310

-15,590

15,621

-41,103

Net change in fair value of interest rate swaps, net of taxes

-43,895

-21,335

22,318

46,000

27,069

43,635

-14,330

-16,241

-43,859

-19,845

-1,825

8,476

-10,070

-106,121

-15,523

30,216

65,074

-21,134

49,147

-4,994

3,906

3,688

-5,017

3,416

1,408

-6,005

-48,504

18,415

5,810

21,829

-4,301

-13,830

5,610

-

-

-

-

Fixed asset disposals, gross

16,294

50,891

4,770

4,564

1,830

4,127

11,824

3,300

3,430

1,978

-430,470

0

431,970

82,187

58,714

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in fair value of interest rate swap

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,444