Brain Scientific, Inc. (BRSF) financial statements (2022 and earlier)

Company profile

Business Address 6700 PROFESSIONAL PARKWAY
LAKEWOOD RANCH, FL 34240
State of Incorp. NV
Fiscal Year End December 31
SIC 3841 - Surgical and Medical Instruments and Apparatus (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments78527326116400
Cash and cash equivalents78527326116400
Receivables1716   
Inventory, net of allowances, customer advances and progress billings1461  23
Inventory1461  23
Prepaid expense26111   
Deferred costs(192)     
Advances on inventory purchases17     
Other undisclosed current assets971632215  
Total current assets:1,13244028917824
Noncurrent Assets
Operating lease, right-of-use asset192  
Property, plant and equipment123022  
Long-term investments and receivables95     
Long-term investments95     
Intangible assets, net (including goodwill)11,834     
Goodwill913     
Intangible assets, net (excluding goodwill)10,921     
Total noncurrent assets:12,243022  
TOTAL ASSETS:13,37544029118024
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:2,987995299140196
Accounts payable    196
Accrued liabilities2,987     
Interest and dividends payable357     
Other undisclosed accounts payable and accrued liabilities(357)995299140  
Debt731499 7035
Derivative instruments and hedges, liabilities 2,563    
Due to related parties156323323508643
Other liabilities  65  
Other undisclosed current liabilities8571,2945932  
Total current liabilities:4,0075,2061,18722717584
Noncurrent Liabilities
Long-term debt and lease obligation9131    
Operating lease, liability9131 
Liabilities, other than long-term debt14  7  
Lease deposit liability14  
Other liabilities   7  
Other undisclosed noncurrent liabilities9,958(31)    
Total noncurrent liabilities:10,06431 7  
Total liabilities:14,0705,2371,18723417584
Stockholders' equity
Stockholders' equity attributable to parent(695)(4,797)(896)(54)(173)(81)
Common stock502019191010
Additional paid in capital21,5383,1442,7572,59500
Accumulated other comprehensive income (loss)(4)(4)0   
Accumulated deficit(22,279)(7,957)(3,672)(2,668)(183)(91)
Total stockholders' equity:(695)(4,797)(896)(54)(173)(81)
TOTAL LIABILITIES AND EQUITY:13,37544029118024

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues266544489587 
Other income18218  
Cost of revenue
(Cost of Goods and Services Sold)
(183)(409)(387)(34)(1) 
Gross profit:83135102246 
Operating expenses(8,740)(1,968)(1,072)(1,309)(92)(90)
Operating loss:(8,656)(1,833)(970)(1,285)(86)(90)
Nonoperating expense(444)(2,452)(31)(141)(6)(0)
Debt instrument, convertible, beneficial conversion feature   123  
Interest and debt expense112 (33)(159)(6)(0)
Other undisclosed income from continuing operations before equity method investments, income taxes  3315960
Loss from continuing operations before equity method investments, income taxes:(8,988)(4,285)(1,002)(1,426)(92)(91)
Other undisclosed loss from continuing operations before income taxes(112)     
Loss from continuing operations before income taxes:(9,101)(4,285)(1,002)(1,426)(92)(91)
Income tax expense  (2)   
Loss before gain (loss) on sale of properties:(9,101)(4,285)(1,004)(1,426)(92)(91)
Other undisclosed net income 8,570    
Net income (loss):(9,101)4,285(1,004)(1,426)(92)(91)
Net income attributable to noncontrolling interest3,576     
Other undisclosed net loss attributable to parent(3,576)(8,570)    
Net loss available to common stockholders, basic:(9,101)(4,285)(1,004)(1,426)(92)(91)
Other undisclosed net income available to common stockholders, diluted3,576     
Net loss available to common stockholders, diluted:(5,525)(4,285)(1,004)(1,426)(92)(91)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):(9,101)4,285(1,004)(1,426)(92)(91)
Comprehensive income (loss):(9,101)4,285(1,004)(1,426)(92)(91)
Comprehensive income, net of tax, attributable to noncontrolling interest3,576     
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(3,580)(8,574)0   
Comprehensive loss, net of tax, attributable to parent:(9,105)(4,289)(1,003)(1,426)(92)(91)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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