Capricor Therapeutics (CAPR) 8-K Termination of a Material Definitive Agreement

Exhibit 99.1

CAPRICOR THERAPEUTICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

ASSETS
	September 30, 2017			Pro-Forma Adjustments (1)			Pro-Forma September 30, 2017
CURRENT ASSETS
Cash and cash equivalents	$	8,897,087					$	8,897,087
Marketable securities		4,997,850						4,997,850
Restricted cash		610,175						610,175
Grant receivable		537,030						537,030
Prepaid expenses and other current assets		190,278						190,278
TOTAL CURRENT ASSETS		15,232,420						15,232,420
PROPERTY AND EQUIPMENT, net		394,031						394,031
OTHER ASSETS
Intangible assets, net of accumulated amortization of $183,990 at September 30, 2017		105,692						105,692
Other assets		61,396						61,396
TOTAL ASSETS	$	15,793,539					$	15,793,539
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable and accrued expenses	$	1,264,325					$	1,264,325
Accounts payable and accrued expenses, related party		99,903						99,903
Loan payable, current		14,155,857			(14,155,857	)		-
Accrued interest, current		1,167,969			(1,167,969	)		-
TOTAL CURRENT LIABILITIES		16,688,054			(15,323,826	)		1,364,228
LONG-TERM LIABILITIES
CIRM liability		3,376,259						3,376,259
TOTAL LONG-TERM LIABILITIES		3,376,259						3,376,259
TOTAL LIABILITIES		20,064,313						4,740,487
COMMITMENTS AND CONTINGENCIES (NOTE 7)
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding		-						-
Common stock, $0.001 par value, 50,000,000 shares authorized, 25,100,388 issued and outstanding at September 30, 2017		25,100						25,100
Additional paid-in capital		59,548,523						59,548,523
Accumulated other comprehensive income		8,593						8,593
Accumulated deficit		(63,852,990	)		15,323,826			(48,529,164	)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)		(4,270,774	)		15,323,826			11,053,052
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$	15,793,539					$	15,793,539

(1) To reflect the forgiveness of the CIRM Loan Balance. This is comprised of $14,405,857 of principal plus accrued interest. $250,000 of such principal will be recorded subsequent to September 30, 2017. As such, the pro-forma adjustments only include the balance as of September 30, 2017.