$ACHV
ACHIEVE LIFE SCIENCES, INC.

2019 Q3 Form 10-Q Financial Statement

#000156459019030879 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.890M $1.630M $1.750M
YoY Change 8.0% -6.86% -180.28%
% of Gross Profit
Research & Development $1.824M $2.032M $1.045M
YoY Change 18.36% 94.45% 1585.48%
% of Gross Profit
Depreciation & Amortization $60.00K $60.00K $60.00K
YoY Change -14.29% 0.0% 50.0%
% of Gross Profit
Operating Expenses $1.824M $2.032M $1.045M
YoY Change 18.36% 94.45% 1585.48%
Operating Profit
YoY Change
Interest Expense $40.00K $40.00K $20.00K
YoY Change -33.33% 100.0% -166.67%
% of Operating Profit
Other Income/Expense, Net $44.00K $38.00K $8.000K
YoY Change -18.52% 375.0% -172.73%
Pretax Income -$3.670M -$3.620M -$2.788M
YoY Change 13.27% 29.84% 1579.52%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$3.673M -$3.624M -$2.788M
YoY Change 13.36% 29.99% 1549.7%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$8.951M -$10.06M -$34.88M
COMMON SHARES
Basic Shares Outstanding 8.098M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.400M $10.40M $15.30M
YoY Change -43.51% -32.03% 10.07%
Cash & Equivalents $7.425M $10.45M $15.33M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $300.0K $400.0K $200.0K
YoY Change 0.0% 100.0% -33.33%
Inventory
Prepaid Expenses $168.0K
Receivables $124.0K
Other Receivables $0.00
Total Short-Term Assets $7.639M $10.80M $15.57M
YoY Change -43.41% -30.63% 7.39%
LONG-TERM ASSETS
Property, Plant & Equipment $64.00K $71.00K $42.00K
YoY Change 69.05% -58.0%
Goodwill $1.034M $1.034M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $190.0K $185.0K $101.0K
YoY Change -5.0% 83.17% -66.33%
Total Long-Term Assets $3.853M $3.953M $3.628M
YoY Change 5.82% 8.96% 859.79%
TOTAL ASSETS
Total Short-Term Assets $7.639M $10.80M $15.57M
Total Long-Term Assets $3.853M $3.953M $3.628M
Total Assets $11.49M $14.76M $19.20M
YoY Change -32.96% -23.15% 29.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $574.0K $707.0K $300.0K
YoY Change 25.33% 135.67% 28.76%
Accrued Expenses $2.600M $2.300M $2.500M
YoY Change 4.0% -8.0% 78.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.139M $2.988M $2.800M
YoY Change 5.98% 6.71% 55.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $300.0K $0.00
YoY Change
Total Long-Term Liabilities $200.0K $300.0K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.139M $2.988M $2.800M
Total Long-Term Liabilities $200.0K $300.0K $0.00
Total Liabilities $3.400M $3.251M $2.800M
YoY Change 14.21% 16.11% 55.56%
SHAREHOLDERS EQUITY
Retained Earnings -$42.51M -$38.84M
YoY Change
Common Stock $50.65M $50.34M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.141M $11.50M $16.44M
YoY Change
Total Liabilities & Shareholders Equity $11.49M $14.76M $19.20M
YoY Change -32.8% -23.15% 28.86%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$3.673M -$3.624M -$2.788M
YoY Change 13.36% 29.99% 1549.7%
Depreciation, Depletion And Amortization $60.00K $60.00K $60.00K
YoY Change -14.29% 0.0% 50.0%
Cash From Operating Activities -$3.070M -$3.840M -$1.870M
YoY Change 3.02% 105.35% -26.09%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$40.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.350M $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $2.350M -$40.00K
YoY Change -100.0% -5975.0% -105.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 4.620M 12.79M
YoY Change -100.0% -63.88%
NET CHANGE
Cash From Operating Activities -3.070M -3.840M -1.870M
Cash From Investing Activities 0.000 2.350M -40.00K
Cash From Financing Activities 0.000 4.620M 12.79M
Net Change In Cash -3.070M 3.130M 10.88M
YoY Change -12.78% -71.23% -714.69%
FREE CASH FLOW
Cash From Operating Activities -$3.070M -$3.840M -$1.870M
Capital Expenditures $0.00 $0.00 -$40.00K
Free Cash Flow -$3.070M -$3.840M -$1.830M
YoY Change 3.02% 109.84% -27.67%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Address Address Line1
EntityAddressAddressLine1
1040 West Georgia Street
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Shell Company
EntityShellCompany
false
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity File Number
EntityFileNumber
033-80623
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
954343413
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 1030
dei Entity Address City Or Town
EntityAddressCityOrTown
Vancouver
dei Entity Address State Or Province
EntityAddressStateOrProvince
British Columbia
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
V6E 4H1
dei City Area Code
CityAreaCode
604
dei Local Phone Number
LocalPhoneNumber
210-2217
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us-gaap Depreciation And Amortization
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments To Acquire Investments
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achv Class Of Warrant Or Right Cancellation Description
ClassOfWarrantOrRightCancellationDescription
Additionally, subject to certain exceptions, if, after June 19, 2018, (i) the volume weighted average price of our common stock for each of any 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.
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us-gaap Amortization Of Intangible Assets
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us-gaap Impairment Of Intangible Assets Finitelived
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CY2019Q2 us-gaap Cash
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achv Maximum Maturity Period Of Cash And Cash Equivalents
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achv Maximum Maturity Period Of Short Term Investments
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CY2018Q2 us-gaap Common Stock Shares Authorized
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CY2018Q2 achv Class Of Warrant Or Right Exercise Period
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4.00
CY2018Q2 achv Minimum Required Trading Price Percentage Over Exercise Price For Cancelation Or Recall Of Warrants
MinimumRequiredTradingPricePercentageOverExercisePriceForCancelationOrRecallOfWarrants
3.00
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
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0
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CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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1010935
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.73
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.90
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0252
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M19D
CY2018Q2 achv Minimum Required Trading Volume Value Per Day For Cancelation Or Recall Of Warrants
MinimumRequiredTradingVolumeValuePerDayForCancelationOrRecallOfWarrants
500000
achv Gross Proceeds From Sale Of Warrants And Units
GrossProceedsFromSaleOfWarrantsAndUnits
13800000
achv Warrant And Units Offering Cost Including Underwriting Discounts And Commissions
WarrantAndUnitsOfferingCostIncludingUnderwritingDiscountsAndCommissions
1600000
achv Net Proceeds From Sale Of Warrants And Units
NetProceedsFromSaleOfWarrantsAndUnits
12200000
CY2019Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2018Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2019Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
133
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
133
CY2018Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9425
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2019Q2 us-gaap Share Based Compensation
ShareBasedCompensation
317000
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
197000
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2300000
CY2018Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1800000
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5174021
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5174021
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3460843
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3460843
CY2019Q2 us-gaap Contractual Obligation
ContractualObligation
479000
CY2019Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
104000
CY2019Q2 us-gaap Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
303000
CY2019Q2 us-gaap Contractual Obligation Due In Fourth And Fifth Year
ContractualObligationDueInFourthAndFifthYear
72000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
455000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M18D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.099
CY2019Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
achv Indemnification Expense
IndemnificationExpense
0

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