PLx Pharma Winddown Corp.

2019 Q1 Form 10-Q Financial Statement

#000143774919009360 Filed on May 10, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.32M $20.42M
YoY Change 19.1% 64.54%
Cash & Equivalents $24.32M $20.42M
Short-Term Investments
Other Short-Term Assets $440.0K $1.440M
YoY Change -69.44% 1700.0%
Inventory
Prepaid Expenses $269.0K
Receivables $20.00K $80.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $24.77M $21.94M
YoY Change 12.93% 75.01%
LONG-TERM ASSETS
Property, Plant & Equipment $1.346M $1.182M
YoY Change 13.84%
Goodwill $2.061M $2.061M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $70.00K $70.00K
YoY Change 0.0% -96.6%
Total Long-Term Assets $4.119M $3.311M
YoY Change 24.41% 60.98%
TOTAL ASSETS
Total Short-Term Assets $24.77M $21.94M
Total Long-Term Assets $4.119M $3.311M
Total Assets $28.89M $25.25M
YoY Change 14.44% 73.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $700.0K $820.0K
YoY Change -14.63% 1266.67%
Accrued Expenses $830.0K $420.0K
YoY Change 97.62% 5.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.563M
YoY Change
Total Short-Term Liabilities $5.099M $1.245M
YoY Change 309.58% 170.65%
LONG-TERM LIABILITIES
Long-Term Debt $3.378M $7.003M
YoY Change -51.77%
Other Long-Term Liabilities $449.1K $137.0K
YoY Change 227.85%
Total Long-Term Liabilities $3.827M $7.140M
YoY Change -46.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.099M $1.245M
Total Long-Term Liabilities $3.827M $7.140M
Total Liabilities $19.68M $15.35M
YoY Change 28.26% 3221.01%
SHAREHOLDERS EQUITY
Retained Earnings -$77.29M -$62.35M
YoY Change 23.96% -2.44%
Common Stock $72.84M $72.25M
YoY Change 0.81% -7.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.454M $9.899M
YoY Change
Total Liabilities & Shareholders Equity $28.89M $25.25M
YoY Change 14.44% 73.03%

Cashflow Statement

Concept 2019 Q1 2018 Q1

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><div style="display: inline; font-weight: bold;">Reclassifications</div></div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">Certain reclassifications have been made to the prior-year financial statements to conform to the current-year presentation.</div></div></div></div></div></div></div>
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CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y146D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y328D
CY2019Q1 us-gaap Stock Issued1
StockIssued1
22500
CY2018Q1 us-gaap Stock Issued1
StockIssued1
22500
CY2018Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
22500
CY2019Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
22500
CY2018Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
281505
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
66232
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
-4453944
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
6444293
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
4616392
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
9898989
CY2019Q1 us-gaap Sublease Income
SubleaseIncome
58508
CY2019Q1 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
15000000
CY2018Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
CY2019Q1 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
CY2019Q1 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
45000
CY2018Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
CY2019Q1 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
15000
CY2018Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
0
CY2019Q1 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
15000
CY2018Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0
CY2019Q1 us-gaap Temporary Equity Value Excluding Additional Paid In Capital
TemporaryEquityValueExcludingAdditionalPaidInCapital
13661578
CY2018Q4 us-gaap Temporary Equity Value Excluding Additional Paid In Capital
TemporaryEquityValueExcludingAdditionalPaidInCapital
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><div style="display: inline; font-weight: bold;">Use of Estimates</div></div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying consolidated financial statements, estimates are used for, but <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> limited to, determining the fair value of tangible and intangible assets and liabilities acquired in business combinations, the fair value of warrant liabilities and other financial instruments, stock-based compensation, allowance for inventory obsolescence, allowance for doubtful accounts, contingent liabilities, the fair value and depreciable lives of long-lived tangible and intangible assets, and deferred taxes and the associated valuation allowance. Actual results could differ from those estimates.</div></div></div></div></div></div></div>
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
6168
CY2019Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P10Y
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8750543
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8725038
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8750543
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8725038

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