9 METERS BIOPHARMA, INC.

2019 Q3 Form 10-Q Financial Statement

#000155198619000102 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q4

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.860M $13.34M $5.730M
YoY Change 9.25% 25.14% 1232.56%
Cash & Equivalents $8.864M $13.34M $5.729M
Short-Term Investments
Other Short-Term Assets $860.0K $1.200M $680.0K
YoY Change 62.26% 400.0% 1260.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $9.720M $14.53M $6.414M
YoY Change 12.53% 33.21% 752.63%
LONG-TERM ASSETS
Property, Plant & Equipment $28.47K $34.16K $35.10K
YoY Change -29.25% -24.72% -13.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.580K $5.580K $5.580K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $90.32K $109.1K $40.68K
YoY Change 97.15% 114.05% -12.12%
TOTAL ASSETS
Total Short-Term Assets $9.720M $14.53M $6.414M
Total Long-Term Assets $90.32K $109.1K $40.68K
Total Assets $9.810M $14.64M $6.454M
YoY Change 12.98% 33.59% 708.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.057M $2.712M $3.619M
YoY Change 6.04% -18.98% 36.11%
Accrued Expenses $1.863M $974.1K $826.3K
YoY Change 712.21% -29.99%
Deferred Revenue
YoY Change
Short-Term Debt $3.880M $4.040M $5.200M
YoY Change -25.24% -2.65% 282.35%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.13M $9.619M $10.11M
YoY Change 58.09% 28.25% -22.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.00K
YoY Change
Total Long-Term Liabilities $0.00 $10.00K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $13.13M $9.619M $10.11M
Total Long-Term Liabilities $0.00 $10.00K $0.00
Total Liabilities $13.13M $9.633M $10.11M
YoY Change 58.19% 28.44% 281.63%
SHAREHOLDERS EQUITY
Retained Earnings -$61.66M -$52.44M -$43.52M
YoY Change 56.88% 36.1% 124.85%
Common Stock $3.589K $3.589K $2.609K
YoY Change 38.14% 39.65% -78.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.315M $5.006M -$3.659M
YoY Change
Total Liabilities & Shareholders Equity $9.810M $14.64M $6.454M
YoY Change 12.98% 33.59% 708.3%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q4

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Registrant Name
EntityRegistrantName
INNOVATE BIOPHARMACEUTICALS, INC.
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2019
dei Entity Shell Company
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dei Document Period End Date
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2019-06-30
dei Document Type
DocumentType
10-Q
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0001551986
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innt Noncash Addition Of Deferred Offering Costs
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innt Noncash Addition Of Deferred Offering Costs
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innt Noncash Addition Of Derivative Liability
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CY2019Q2 innt Number Of Former Executives
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1400000 shares
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innt Severance Costs Equal Installment Period
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CY2018Q1 innt Severance Provisions Continuation Of Health Insurance Benefits Period
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P12M
CY2018Q1 innt Stock Issued During Period Value Stock Splits
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CY2018Q2 innt Stock Issued During Period Value Warrant Exercised
StockIssuedDuringPeriodValueWarrantExercised
12472 USD
CY2018Q4 innt Warrant Liability Current
WarrantLiabilityCurrent
0 USD
CY2019Q2 innt Warrant Liability Current
WarrantLiabilityCurrent
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CY2019Q2 innt Warrants And Rights Outstanding Exercise Commencement Period
WarrantsAndRightsOutstandingExerciseCommencementPeriod
P6M
innt Warrants Issued To Placement Agents
WarrantsIssuedToPlacementAgents
913000 USD
innt Warrants Issued To Placement Agents
WarrantsIssuedToPlacementAgents
0 USD
innt Writeoff Of Deferred Offering Costs
WriteoffOfDeferredOfferingCosts
0 USD
CY2019Q2 innt Writeoff Of Deferred Offering Costs
WriteoffOfDeferredOfferingCosts
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innt Writeoff Of Deferred Offering Costs
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CY2019Q2 us-gaap Accounts Payable Current
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CY2018Q4 us-gaap Accrued Liabilities Current
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CY2019Q2 us-gaap Accrued Liabilities Current
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CY2018Q4 us-gaap Additional Paid In Capital
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CY2019Q2 us-gaap Additional Paid In Capital
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CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
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CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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7174000 USD
CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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526000 USD
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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852000 USD
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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2568079 USD
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
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CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Stock Split
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0 USD
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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2000000 USD
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us-gaap Allocated Share Based Compensation Expense
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CY2019Q2 us-gaap Allocated Share Based Compensation Expense
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852000 USD
us-gaap Allocated Share Based Compensation Expense
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1378000 USD
us-gaap Amortization Of Debt Discount Premium
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1171985 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
382212 USD
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2018Q4 us-gaap Assets
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CY2018Q4 us-gaap Cash
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CY2019Q2 us-gaap Cash
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CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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10307871 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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7608998 USD
CY2018Q4 us-gaap Certificates Of Deposit At Carrying Value
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75000 USD
CY2019Q2 us-gaap Certificates Of Deposit At Carrying Value
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75000 USD
CY2019Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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2.13
CY2019Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
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15120898 shares
CY2019Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
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3897010 shares
CY2018Q1 us-gaap Class Of Warrant Or Right Outstanding
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CY2018Q4 us-gaap Commitments And Contingencies
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USD
CY2019Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2019Q2 us-gaap Warrants And Rights Outstanding Term
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P5Y
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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25695171 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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23481834 shares
CY2019Q1 us-gaap Shares Issued Price Per Share
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2.33
CY2019Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
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us-gaap Stock Issued1
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us-gaap Stock Issued1
StockIssued1
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CY2018Q1 us-gaap Stock Issued During Period Value New Issues
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CY2019Q1 us-gaap Stock Issued During Period Value New Issues
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CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2017Q4 us-gaap Stockholders Equity
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CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
5006309 USD
CY2018Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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0.10
CY2018Q1 us-gaap Warrants And Rights Outstanding Term
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P5Y
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33973788 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30631601 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. Areas of the financial statements where estimates may have the most significant effect include accrued expenses, share-based compensation, valuation of the derivative liability and warrant liabilities, valuation allowance for income tax assets and management&#8217;s assessment of the Company&#8217;s ability to continue as a going concern. Changes in the facts or circumstances underlying these estimates could result in material changes and actual results could differ from these estimates.</font></div></div>

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