Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

International Stem Cell (ISCO.OB) Q2/11 Results

A net loss of $2.496M or $0.03 per share

Q2/11 revenue was $1.11M, cost of sales was $362K, R&D was $1.28M, Marketing was $345K, and G&A was $2.135 M. Total development expenses were $3.97M while loss was loss from development activities was $2.858M. Total other income (expense) was $469K. Net income (loss) attributable to 73.4M shares was $2.496M

ISCO reported year-to-date revenues of $2.6M compared to $0.7M for the same time period in 2010, representing an increase of 271%. The increase in revenues relates to sales generated by ISCO’s wholly-owned subsidiaries Lifeline Skin Care (NYSEARCA:LSC) which contributed $1.7M and Lifeline Cell Technology (LCT) which contributed $0.9M of revenues.

Total year-to-date expenses (post re-statement), excluding cost of sales increased $2M or 38%, compared to the 1st 6 months of the previous year. The  reasons for the increase in total expenses related to increases in R&D and G&A. R&D expenses increased primarily due to increased activity on scientific projects. G&A expenses increased primarily due to increased headcount, non-cash stock-based compensation and increased expenses related to business development activity and general corporate expenses. Net cash used in operating activities for the six months ended 6/30/11 was $3M.

  • Cash balance at 6/30/11 was $3.6M.