TREX WIND-DOWN, INC.

2023 Q3 Form 10-Q Financial Statement

#000143774923024294 Filed on August 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.520M
YoY Change -69.55%
Cash & Equivalents $2.500M
Short-Term Investments
Other Short-Term Assets $132.8K
YoY Change -44.02%
Inventory
Prepaid Expenses $138.8K
Receivables
Other Receivables
Total Short-Term Assets $2.791M
YoY Change -69.92%
LONG-TERM ASSETS
Property, Plant & Equipment $18.66K
YoY Change -9.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $145.1K
YoY Change 13.81%
Total Long-Term Assets $535.1K
YoY Change -15.2%
TOTAL ASSETS
Total Short-Term Assets $2.791M
Total Long-Term Assets $535.1K
Total Assets $3.326M
YoY Change -66.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.632M
YoY Change 288.15%
Accrued Expenses $2.021M
YoY Change 43.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.625M
YoY Change -14.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $322.8K
YoY Change 338.08%
Total Long-Term Liabilities $322.8K
YoY Change 338.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.625M
Total Long-Term Liabilities $322.8K
Total Liabilities $5.947M
YoY Change -30.52%
SHAREHOLDERS EQUITY
Retained Earnings -$56.40M
YoY Change 35.9%
Common Stock $148.4K
YoY Change 132.82%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.621M
YoY Change
Total Liabilities & Shareholders Equity $3.326M
YoY Change -66.43%

Cashflow Statement

Concept 2023 Q3 2023 Q2

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
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dei Entity Registrant Name
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Timber Pharmaceuticals, Inc.
dei Amendment Flag
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3 Mountainview Road, Suite 100
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dei Security12b Title
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us-gaap Use Of Estimates
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<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;"><b><i>Use of Estimates</i></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 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 amounts of expenses during the reporting period. The most significant estimates in the Company’s unaudited condensed consolidated financial statements relate to the valuations of warrants, and equity-based awards. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are <em style="font: inherit;">not</em> readily apparent from other sources. Actual results <em style="font: inherit;"> may </em>differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected.</p>
us-gaap Net Income Loss
NetIncomeLoss
-12569390 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Reclassifications</i></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;">Certain reclassifications have been made to the condensed consolidated financial statements of prior years to conform to the current year presentation.</p>
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
700000 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4063350 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9495996 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8124602 usd
CY2020Q2 tmbr Share Price Of Final Price Of Share
SharePriceOfFinalPriceOfShare
902.70
CY2021 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
2.1 usd
CY2021Q4 tmbr Percentage Of Cumulative Dividends On Preferred Stock
PercentageOfCumulativeDividendsOnPreferredStock
0.080 pure
CY2022Q2 tmbr Non Cash Interest Expenses On Reclassification Of Redeemable Preferred Stock
NonCashInterestExpensesOnReclassificationOfRedeemablePreferredStock
54252 usd
tmbr Non Cash Interest Expenses On Reclassification Of Redeemable Preferred Stock
NonCashInterestExpensesOnReclassificationOfRedeemablePreferredStock
96328 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-4063350 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-9495996 usd
us-gaap Net Income Loss
NetIncomeLoss
-8124602 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12569390 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3081110
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1274632
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3061594
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1273698
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3081110
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1274632
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3061594
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1273698
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.32
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.65
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-9.87
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2953798
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
953460
us-gaap Income Taxes Paid
IncomeTaxesPaid
7600 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
2022 usd
us-gaap Variable Lease Cost
VariableLeaseCost
77099 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
124090 usd
us-gaap Lease Cost
LeaseCost
361514 usd
CY2023Q2 tmbr Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
775665 usd
CY2022Q4 tmbr Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
436128 usd
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
198822 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
192108 usd
CY2023Q2 tmbr Accrued Personal Expenses Current
AccruedPersonalExpensesCurrent
435001 usd
CY2022Q4 tmbr Accrued Personal Expenses Current
AccruedPersonalExpensesCurrent
680181 usd
CY2023Q2 tmbr Accrued Interest Current
AccruedInterestCurrent
247940 usd
CY2022Q4 tmbr Accrued Interest Current
AccruedInterestCurrent
119865 usd
CY2023Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
150000 usd
CY2022Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
150000 usd
CY2023Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
163408 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
0 usd
CY2023Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
49735 usd
CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
31253 usd
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2020571 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1609535 usd
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
27347
CY2020Q2 tmbr Fraction Of Shares Issued
FractionOfSharesIssued
0
CY2022Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
931667
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
131500 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
283926 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
269030 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
652209 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
131882
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
131880
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.66
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
157421 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
109627 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
209523 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
32968 usd
us-gaap Variable Lease Cost
VariableLeaseCost
56922 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
142595 usd
us-gaap Lease Cost
LeaseCost
266445 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
99142 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
284415 usd
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
24948 usd
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
106435 usd
us-gaap Sublease Income
SubleaseIncome
317998 usd
CY2022Q2 tmbr Net Rent Expenses
NetRentExpenses
17655 usd
tmbr Net Rent Expenses
NetRentExpenses
43516 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
208369 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
98448 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
385682 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M18D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.140 pure
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.142 pure
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
224044 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
107820 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
110461 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
113101 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
115742 usd
CY2023Q2 tmbr Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
19364 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
690532 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
145403 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
545129 usd
CY2023Q2 us-gaap Investment Owned Balance Shares
InvestmentOwnedBalanceShares
0

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