PLx Pharma Winddown Corp.

2021 Q4 Form 10-Q Financial Statement

#000143774921026282 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.39M $82.55M $9.090M
YoY Change 209.1% 808.19% -50.89%
Cash & Equivalents $69.39M $82.55M $9.087M
Short-Term Investments
Other Short-Term Assets $992.0K $616.3K $390.0K
YoY Change 154.36% 58.01% 56.0%
Inventory $2.458M $2.190M $143.4K
Prepaid Expenses
Receivables $634.0K $3.253M $0.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $73.48M $88.61M $9.618M
YoY Change 219.66% 821.37% -48.73%
LONG-TERM ASSETS
Property, Plant & Equipment $858.0K $888.7K $1.252M
YoY Change -30.02% -29.05% -10.04%
Goodwill $2.061M $2.061M $2.061M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $247.0K $17.04K $20.00K
YoY Change 1135.0% -14.8% -71.43%
Total Long-Term Assets $3.166M $3.222M $3.733M
YoY Change -12.81% -13.7% -11.68%
TOTAL ASSETS
Total Short-Term Assets $73.48M $88.61M $9.618M
Total Long-Term Assets $3.166M $3.222M $3.733M
Total Assets $76.64M $91.84M $13.35M
YoY Change 187.94% 587.87% -41.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.60M $6.452M $610.0K
YoY Change 1132.56% 957.73% -52.71%
Accrued Expenses $1.278M $953.2K $1.620M
YoY Change -36.73% -41.16% 28.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $1.549M
YoY Change -100.0% -100.0% -57.29%
Total Short-Term Liabilities $11.88M $7.405M $3.811M
YoY Change 235.38% 94.3% -38.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $136.0K $165.5K $146.4K
YoY Change 1.49% 13.02% -70.03%
Total Long-Term Liabilities $136.0K $165.5K $146.4K
YoY Change 1.49% 13.02% -92.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.88M $7.405M $3.811M
Total Long-Term Liabilities $136.0K $165.5K $146.4K
Total Liabilities $24.96M $44.93M $11.69M
YoY Change 54.43% 284.45% -40.17%
SHAREHOLDERS EQUITY
Retained Earnings -$148.3M -$151.8M -$94.17M
YoY Change 45.15% 61.24% 10.87%
Common Stock $183.9M $182.7M $74.45M
YoY Change 101.65% 145.45% -0.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.67M $30.89M -$19.72M
YoY Change
Total Liabilities & Shareholders Equity $76.64M $91.84M $13.35M
YoY Change 187.94% 587.87% -41.92%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3

Facts In Submission

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143380 USD
CY2021Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
7723312 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
4932268 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
-0 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
102000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
94542 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
94542 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-102000 USD
plxp Proceeds From Issuance Of Common Stock Net Issuance Costs
ProceedsFromIssuanceOfCommonStockNetIssuanceCosts
74460498 USD
plxp Proceeds From Issuance Of Common Stock Net Issuance Costs
ProceedsFromIssuanceOfCommonStockNetIssuanceCosts
USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
625000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2812500 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
78767766 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4910812 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
60105646 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4914779 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22448651 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
14001304 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
82554297 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9086525 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
us-gaap Interest Paid Net
InterestPaidNet
6491 USD
us-gaap Interest Paid Net
InterestPaidNet
189948 USD
plxp Cashless Exercise Of Warrants
CashlessExerciseOfWarrants
1879279 USD
plxp Cashless Exercise Of Warrants
CashlessExerciseOfWarrants
0 USD
plxp Beneficial Conversion Feature And Dividends Of Preferred Stock
BeneficialConversionFeatureAndDividendsOfPreferredStock
2524958 USD
plxp Beneficial Conversion Feature And Dividends Of Preferred Stock
BeneficialConversionFeatureAndDividendsOfPreferredStock
1227422 USD
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
8360632 USD
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 USD
CY2021Q3 plxp Working Capital
WorkingCapital
81200000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82600000 USD
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"><b>Use of Estimates</b></p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The preparation of our unaudited consolidated 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 consolidated financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying unaudited consolidated financial statements, estimates are used for, but <em style="font: inherit;">not</em> limited to, the impairment assessment of goodwill, the fair value of warrant liability, the fair value of stock-based compensation, sales returns and allowances, trade promotional allowances, allowance for inventory obsolescence, contingent liabilities, fair value and depreciable lives of long-lived assets, and deferred taxes and associated valuation allowance. Actual results could differ from those estimates.</p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p>
CY2021Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
82600000 USD
CY2021Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
99368 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
143380 USD
CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
90901 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
0 USD
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2000081 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
0 USD
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0 USD
CY2021Q3 plxp Reserves For Sales Returns And Consumer And Trade Promotion Obligations
ReservesForSalesReturnsAndConsumerAndTradePromotionObligations
1800000 USD
CY2020Q4 plxp Reserves For Sales Returns And Consumer And Trade Promotion Obligations
ReservesForSalesReturnsAndConsumerAndTradePromotionObligations
0 USD
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3498297
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
6665814
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
2704593
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
6476275
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
16640386
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
7935503
plxp Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
1269689
CY2021Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
6665814
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2979047
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.96
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
528000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.28
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
8750
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
81.28
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3498297
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.07
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
38970547 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1492514
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.69
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
15048635 USD
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
8500000 USD
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
49501 USD
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
87851 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
227387 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
263054 USD
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
us-gaap Operating Lease Cost
OperatingLeaseCost
49501 USD
us-gaap Sublease Income
SubleaseIncome
20694 USD
us-gaap Lease Cost
LeaseCost
28807 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
33474 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
132231 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
113823 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
30132 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
309660 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
30657 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
279003 USD
CY2021Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD

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