$ACHV
ACHIEVE LIFE SCIENCES, INC.

2018 Q4 Form 10-Q Financial Statement

#000156459018028073 Filed on November 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.630M $1.750M $1.630M
YoY Change 0.0% 12.9% -29.13%
% of Gross Profit
Research & Development $2.081M $1.541M $2.153M
YoY Change -3.34% 86.79% 2591.25%
% of Gross Profit
Depreciation & Amortization $60.00K $70.00K $90.00K
YoY Change -33.33% 16.67% 125.0%
% of Gross Profit
Operating Expenses $2.081M $1.541M $2.153M
YoY Change -3.34% 86.79% 2591.25%
Operating Profit
YoY Change
Interest Expense $80.00K $60.00K $10.00K
YoY Change 700.0% 500.0% -75.0%
% of Operating Profit
Other Income/Expense, Net $72.00K $54.00K $42.00K
YoY Change 71.43% -100.77% -1150.0%
Pretax Income -$3.640M -$3.240M -$3.740M
YoY Change -2.67% -65.53% -35.96%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.637M -$3.240M -$3.740M
YoY Change -2.75% -49.91% 669.55%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$11.03M -$14.09M -$62.33M
COMMON SHARES
Basic Shares Outstanding 6.721M 11.95M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.60M $13.10M $5.300M
YoY Change 175.47% 63.75% -48.27%
Cash & Equivalents $9.515M $11.81M $5.284M
Short-Term Investments $5.100M $1.400M
Other Short-Term Assets $900.0K $300.0K $600.0K
YoY Change 50.0% -40.0% -40.0%
Inventory
Prepaid Expenses $926.0K $393.0K
Receivables $7.000K $0.00 $0.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $15.54M $13.50M $5.900M
YoY Change 163.34% 56.5% 32677.78%
LONG-TERM ASSETS
Property, Plant & Equipment $35.00K $0.00 $100.0K
YoY Change -65.0% -100.0% -66.67%
Goodwill $1.034M $1.034M $1.034M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $118.0K $200.0K $400.0K
YoY Change -70.5% -51.81% 33.33%
Total Long-Term Assets $3.547M $3.641M $3.992M
YoY Change -11.15% -17.31% 5.36%
TOTAL ASSETS
Total Short-Term Assets $15.54M $13.50M $5.900M
Total Long-Term Assets $3.547M $3.641M $3.992M
Total Assets $19.08M $17.14M $9.892M
YoY Change 92.92% 31.56% 159.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $144.0K $458.0K $213.0K
YoY Change -32.39% -7.47% 124.21%
Accrued Expenses $3.100M $2.500M $1.800M
YoY Change 72.22% 38.89% -70.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $3.270M $2.962M $2.013M
YoY Change 62.44% 27.07% -34.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.270M $2.962M $2.013M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.282M $2.977M $2.013M
YoY Change 63.04% 26.84% -37.03%
SHAREHOLDERS EQUITY
Retained Earnings -$25.38M -$12.69M
YoY Change 99.94% 515.62%
Common Stock $41.18M $20.57M
YoY Change 100.21% 662.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.80M $14.16M $15.80M
YoY Change
Total Liabilities & Shareholders Equity $19.08M $17.10M $9.892M
YoY Change 92.92% 31.25% 159.84%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income -$3.637M -$3.240M -$3.740M
YoY Change -2.75% -49.91% 669.55%
Depreciation, Depletion And Amortization $60.00K $70.00K $90.00K
YoY Change -33.33% 16.67% 125.0%
Cash From Operating Activities -$3.540M -$2.980M -$3.630M
YoY Change -2.48% -149.26% -47.99%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$3.700M -$1.390M $270.0K
YoY Change -1470.37% -164.65% -97.41%
Cash From Investing Activities -$3.710M -$1.390M $270.0K
YoY Change -1474.07% -164.65% -97.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.010M 850.0K 890.0K
YoY Change 462.92% -24.78%
NET CHANGE
Cash From Operating Activities -3.540M -2.980M -3.630M
Cash From Investing Activities -3.710M -1.390M 270.0K
Cash From Financing Activities 5.010M 850.0K 890.0K
Net Change In Cash -2.240M -3.520M -2.470M
YoY Change -9.31% -137.73% -171.8%
FREE CASH FLOW
Cash From Operating Activities -$3.540M -$2.980M -$3.630M
Capital Expenditures -$10.00K $0.00
Free Cash Flow -$3.530M -$2.980M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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RestrictedCashCurrent
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dei Entity Small Business
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dei Entity Emerging Growth Company
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CY2017Q4 us-gaap Commitments And Contingencies
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CY2018Q3 us-gaap Preferred Stock Value
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CY2017Q4 us-gaap Preferred Stock Value
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us-gaap General And Administrative Expense
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achv Contingent Value Rights Recovery
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Share Based Compensation
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Employee Related Liabilities
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achv Increase Decrease In Lease Obligations
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Productive Assets
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us-gaap Payments To Acquire Investments
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achv Cash Assumed In Reverse Merger
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Amortization Of Intangible Assets
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achv Class Of Warrant Or Right Cancellation Description
ClassOfWarrantOrRightCancellationDescription
Additionally, subject to certain exceptions, if, after the June 19, 2018, (i) the volume weighted average price of our common stock for each of 30 consecutive trading days, or the Measurement Period, which Measurement Period commences on June 19, 2018, exceeds 300% of the exercise price (subject to adjustments for stock splits, recapitalizations, stock dividends and similar transactions), (ii) the average daily trading volume for such Measurement Period exceeds $500,000 per trading day and (iii) certain other equity conditions are met, and subject to a beneficial ownership limitation, then we may call for cancellation of all or any portion of the warrants then outstanding.
CY2018Q2 achv Number Of Required Consecutive Days Weighted Average Trading Price For Cancelation Or Recall Of Warrants
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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15.65
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0293
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0195
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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P5Y8M4D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8823
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8606
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
210000
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
152000
CY2018Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2600000
CY2017Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2000000
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3854505
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
174408
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3854505
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
174408
CY2017Q3 achv Number Of Warrants Exercised
NumberOfWarrantsExercised
0
achv Number Of Warrants Exercised
NumberOfWarrantsExercised
0
CY2018Q3 us-gaap Contractual Obligation
ContractualObligation
384000
CY2018Q3 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
175000
CY2018Q3 us-gaap Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
209000
achv Expiration Of Operating Lease Agreement
ExpirationOfOperatingLeaseAgreement
2019-01
CY2018Q3 achv Operating Lease Agreement Extended Period Month And Year
OperatingLeaseAgreementExtendedPeriodMonthAndYear
2019-01
CY2018Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
200000
CY2017Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2018Q3 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
achv Indemnification Expense
IndemnificationExpense
0
CY2017Q3 achv Number Of Terminated Senior Executives
NumberOfTerminatedSeniorExecutives
1

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