$ANIP
ANI PHARMACEUTICALS INC

2013 Q2 Form 10-Q Financial Statement

#000114420413044160 Filed on August 09, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $6.152M $5.187M
YoY Change 18.61% 6303.21%
Cost Of Revenue $2.171M $2.119M
YoY Change 2.46%
Gross Profit $3.981M $3.068M
YoY Change 29.76%
Gross Profit Margin 64.71% 59.15%
Selling, General & Admin $7.172M $914.0K
YoY Change 684.68% -54.07%
% of Gross Profit 180.16% 29.79%
Research & Development $437.0K $209.9K
YoY Change 108.22% -98.11%
% of Gross Profit 10.98% 6.84%
Depreciation & Amortization $147.0K $140.6K
YoY Change 4.52% 251.6%
% of Gross Profit 3.69% 4.58%
Operating Expenses $7.609M $1.124M
YoY Change 577.03% -89.89%
Operating Profit -$3.775M $586.4K
YoY Change -743.73% -104.49%
Interest Expense $374.5K $501.0K
YoY Change -25.25% -126.09%
% of Operating Profit 85.43%
Other Income/Expense, Net -$434.0K -$50.00K
YoY Change 768.0% -600.0%
Pretax Income -$4.583M $35.42K
YoY Change -13038.29% -100.24%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$4.583M $35.42K
YoY Change -13038.29% -100.24%
Net Earnings / Revenue -74.5% 0.68%
Basic Earnings Per Share -$6.03
Diluted Earnings Per Share -$6.03 -$2.178M
COMMON SHARES
Basic Shares Outstanding 1.153M shares
Diluted Shares Outstanding 1.153M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.60M $42.40M
YoY Change -70.28% 14.29%
Cash & Equivalents $12.60M $119.6K
Short-Term Investments
Other Short-Term Assets $2.600M $500.0K
YoY Change 420.0% -50.0%
Inventory $2.585M
Prepaid Expenses $251.8K
Receivables $6.428M
Other Receivables $0.00
Total Short-Term Assets $24.12M $42.90M
YoY Change -43.78% 12.6%
LONG-TERM ASSETS
Property, Plant & Equipment $4.741M $900.0K
YoY Change 426.75% -18.18%
Goodwill $1.838M
YoY Change
Intangibles $10.96M
YoY Change
Long-Term Investments $3.400M
YoY Change 0.0%
Other Assets $0.00 $100.0K
YoY Change -100.0% 0.0%
Total Long-Term Assets $17.58M $4.400M
YoY Change 299.57% -6.38%
TOTAL ASSETS
Total Short-Term Assets $24.12M $42.90M
Total Long-Term Assets $17.58M $4.400M
Total Assets $41.70M $47.30M
YoY Change -11.84% 10.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.635M $3.800M
YoY Change -56.98% -39.68%
Accrued Expenses $1.039M $2.100M
YoY Change -50.51% -46.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.50M
YoY Change 775.0%
Total Short-Term Liabilities $6.163M $16.40M
YoY Change -62.42% 42.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.163M $16.40M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $6.200M $16.40M
YoY Change -62.2% -47.44%
SHAREHOLDERS EQUITY
Retained Earnings -$53.10M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $432.6K
YoY Change
Treasury Stock Shares 59.09K shares
Shareholders Equity $35.49M $30.90M
YoY Change
Total Liabilities & Shareholders Equity $41.66M $47.30M
YoY Change -11.93% 10.51%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$4.583M $35.42K
YoY Change -13038.29% -100.24%
Depreciation, Depletion And Amortization $147.0K $140.6K
YoY Change 4.52% 251.6%
Cash From Operating Activities -$760.0K -$7.050M
YoY Change -89.22% -49.24%
INVESTING ACTIVITIES
Capital Expenditures -$20.00K -$10.00K
YoY Change 100.0% -96.88%
Acquisitions
YoY Change
Other Investing Activities $18.20M $0.00
YoY Change
Cash From Investing Activities $18.18M -$10.00K
YoY Change -181900.0% -96.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.870M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -760.0K -7.050M
Cash From Investing Activities 18.18M -10.00K
Cash From Financing Activities -4.870M 0.000
Net Change In Cash 12.55M -7.060M
YoY Change -277.76% -50.35%
FREE CASH FLOW
Cash From Operating Activities -$760.0K -$7.050M
Capital Expenditures -$20.00K -$10.00K
Free Cash Flow -$740.0K -$7.040M
YoY Change -89.49% -48.12%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
0001023024
dei Entity Registrant Name
EntityRegistrantName
ANI PHARMACEUTICALS INC
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
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dei Trading Symbol
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anip Noncash Or Part Noncash Acquisition Restricted Cash
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2260100 USD
anip Noncash Or Part Noncash Acquisition Restricted Cash
NoncashOrPartNoncashAcquisitionRestrictedCash
0 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
79261 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
0 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="BACKGROUND-COLOR: transparent"> <strong>Use of Estimates</strong></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="BACKGROUND-COLOR: transparent">The preparation of financial statements in conformity with US 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 amount of revenues and expenses during the reporting period. In the accompanying unaudited condensed consolidated financial statements, estimates are used for, but not limited to, stock-based compensation, allowance for doubtful accounts, accruals for chargebacks, returns and other allowances, allowance for inventory obsolescence, valuation of derivative liabilities, allowances for contingencies and litigation, deferred tax valuation allowance ,&#160;and the depreciable lives of fixed assets. Actual results could differ from those estimates.</font></div> </div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="BACKGROUND-COLOR: transparent"> <strong>Credit Concentration</strong></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="BACKGROUND-COLOR: transparent">The Company <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 12pt"><font size="2" style="times new roman,times,serif">&#8217;</font></font>s customers are primarily pharmaceutical companies, wholesale distributors, chain drug stores, and group purchasing organizations.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="BACKGROUND-COLOR: transparent">During the three months ended June 30, 2013, three customers represented <font style=" FONT-SIZE: 10pt">41</font>%, <font style=" FONT-SIZE: 10pt">21</font>%, and <font style=" FONT-SIZE: 10pt"> 7</font>% of net revenues, respectively. During the six months ended June 30, 2013, the same three customers represented approximately <font style=" FONT-SIZE: 10pt">25</font>%, <font style=" FONT-SIZE: 10pt">15</font>%, and <font style=" FONT-SIZE: 10pt">14</font>% of net revenues, respectively. As of June 30, 2013, accounts receivable from these customers totaled $<font style=" FONT-SIZE: 10pt">5,007,910</font>.&#160;During the three months ended June 30, 2012, three customers represented <font style=" FONT-SIZE: 10pt">35</font>%, <font style=" FONT-SIZE: 10pt">29</font>%, and <font style=" FONT-SIZE: 10pt"> 4</font>% of net revenues, respectively.&#160;During the six months ended June 30, 2012, the same three customers represented approximately <font style=" FONT-SIZE: 10pt">24</font>%, <font style=" FONT-SIZE: 10pt">19</font>%, and <font style=" FONT-SIZE: 10pt">7</font>% of net revenues, respectively.</font></div> </div>
us-gaap Nature Of Operations
NatureOfOperations
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left"><font style="BACKGROUND-COLOR: transparent"><strong> Overview</strong></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="left"><font style="BACKGROUND-COLOR: transparent">ANI Pharmaceuticals, Inc. (the&#160;<font style="times new roman,times,serif">&#8220;<font size="2">Company&#8221; )</font></font></font> <font style="BACKGROUND-COLOR: transparent"> is a specialty pharmaceutical company, developing and marketing generic and branded prescription products. In two facilities located in Baudette, Minnesota, with combined manufacturing, packaging and laboratory capacity totaling 173,000 sq. ft., the Company manufactures oral solid dose products, as well as liquids and topicals, including those that must be manufactured in a fully contained environment due to their potency and/or toxicity. The Company also performs contract manufacturing for other pharmaceutical companies.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0in; FONT: 10pt Times New Roman, Times, Serif" align="left">On June 19, 2013, BioSante Pharmaceuticals, Inc. (&#8220;BioSante&#8221;)&#160;acquired ANIP Acquisition Company (&#8220;ANIP&#8221;) in an all-stock, tax-free reorganization (Note 2), in which ANIP became a wholly-owned subsidiary of BioSante. BioSante was renamed ANI Pharmaceuticals, Inc. The Merger was accounted for as a reverse acquisition pursuant to which ANIP was considered the acquiring entity for accounting purposes. As such, ANIP's historical results of operations replace BioSante's historical results of operations for all periods prior to the Merger. The results of operations of both companies will be included in the Company&#8217;s financial statements for all periods after completion of the Merger.</div> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="BACKGROUND-COLOR: transparent">The Company's operations are subject to certain risks and uncertainties including, among others, current and potential competitors with greater resources, dependence on significant customers, lack of operating history and uncertainty of future profitability and possible fluctuations in financial results. The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations, and potential other funding sources, including cash on hand, to meet the Company<font size="2"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 12pt"><font size="2" style="times new roman,times,serif">&#8217;</font></font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 12pt"></font>s obligations as they become due. Management believes the going-concern basis is appropriate for the accompanying unaudited condensed consolidated financial statements based on its current operating plan through June 30, 2014.</font></font></div> </div>
us-gaap Depreciation
Depreciation
266129 USD
us-gaap Depreciation
Depreciation
256279 USD
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
253420 shares
CY2012Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
80224 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
250646 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
51205 shares
CY2013Q2 anip Fdic Guaranteed Amount
FdicGuaranteedAmount
250000 USD
CY2013Q2 anip Share Based Compensation Arrangement Options Outstanding
ShareBasedCompensationArrangementOptionsOutstanding
38270 shares
CY2013Q2 anip Share Based Compensation Arrangement Warrants Outstanding
ShareBasedCompensationArrangementWarrantsOutstanding
125624 shares
anip Reverse Stock Split Ratio Description
ReverseStockSplitRatioDescription
one-for-six
CY2012 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
928695 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
5658460 USD
CY2013Q2 us-gaap Share Price
SharePrice
1.22
CY2013Q2 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Legal Fee
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsLegalFee
1166894 USD
CY2013Q2 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Accounting Fees
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsAccountingFees
118374 USD
CY2013Q2 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Consulting Fees
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsConsultingFees
99448 USD
CY2013Q2 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Monitory And Advisory Fees
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsMonitoryAndAdvisoryFees
390000 USD
CY2013Q2 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Transaction Bonuses
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsTransactionBonuses
4501364 USD
CY2013Q2 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Other Expenses
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsOtherExpenses
311075 USD
CY2013Q2 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
6587155 USD
CY2013Q2 anip Fair Value Of Shares Outstanding
FairValueOfSharesOutstanding
29795133 USD
CY2013Q2 anip Estimated Fair Value Of Stock Options
EstimatedFairValueOfStockOptions
0 USD
CY2013Q2 anip Business Combination Cost Of Acquired Entity Purchase Price
BusinessCombinationCostOfAcquiredEntityPurchasePrice
29795133 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Cash And Cash Equivalents
BusinessCombinationPurchasePriceAllocationCashAndCashEquivalents
18197442 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Assets Total
BusinessCombinationPurchasePriceAllocationAssetsTotal
33275112 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Accrued Severance
BusinessCombinationPurchasePriceAllocationAccruedSeverance
2964962 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Other Liabilities
BusinessCombinationPurchasePriceAllocationOtherLiabilities
515017 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Liabilities Total
BusinessCombinationPurchasePriceAllocationLiabilitiesTotal
3479979 USD
CY2013Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
6151539 USD
CY2012Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
5295573 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
11858488 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
10236375 USD
CY2013Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-3352015 USD
CY2012Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-6922844 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-4870433 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-16655470 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Intangible Asset
BusinessCombinationPurchasePriceAllocationIntangibleAsset
10900000 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Other Assets
BusinessCombinationPurchasePriceAllocationOtherAssets
79261 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Goodwill
BusinessCombinationPurchasePriceAllocationGoodwill
1838309 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Deferred Tax Assets Net
BusinessCombinationPurchasePriceAllocationDeferredTaxAssetsNet
0 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Restricted Cash
BusinessCombinationPurchasePriceAllocationRestrictedCash
2260100 USD
CY2013Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
12011332 USD
CY2012Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
11556510 USD
CY2013Q2 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
5583826 USD
CY2012Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
6124109 USD
CY2012Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
974967 USD
CY2012Q4 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
584654 USD
CY2012Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
374257 USD
CY2012Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
890683 USD
CY2012Q4 us-gaap Inventory Gross
InventoryGross
2824561 USD
CY2012Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
14876 USD
CY2013Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
1313288 USD
CY2013Q2 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
586833 USD
CY2013Q2 us-gaap Inventory Gross
InventoryGross
2667216 USD
CY2013Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
82530 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25000 USD
CY2012Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12500 USD
CY2013Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12500 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
495455 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
997577 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1010910 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1010910 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1004243 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
6440905 USD
CY2013Q2 anip Finite Lived Intangible Assets Amortization Expense Total
FiniteLivedIntangibleAssetsAmortizationExpenseTotal
10960000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
160000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
75000 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
11060000 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
100000 USD
CY2012Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
370766 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
0 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
61257 USD
CY2011Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
3500000 USD
CY2011Q4 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
Base Rate, as defined, plus 6.0%
CY2011Q4 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.0075 pure
CY2011Q4 anip Line Of Credit Facility Management Fee
LineOfCreditFacilityManagementFee
9000 USD
CY2012Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
5000000 USD
CY2012Q2 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.00375 pure
CY2012Q2 anip Line Of Credit Facility Management Fee
LineOfCreditFacilityManagementFee
18000 USD
anip Line Of Credit Facility Termination Fee In First Year
LineOfCreditFacilityTerminationFeeInFirstYear
180000 USD
anip Line Of Credit Facility Termination Fee In Second Year
LineOfCreditFacilityTerminationFeeInSecondYear
120000 USD
anip Line Of Credit Facility Termination Fee After Second Year
LineOfCreditFacilityTerminationFeeAfterSecondYear
60000 USD
CY2012Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
LineOfCreditFacilityInterestRateAtPeriodEnd
0.060 pure
CY2012Q2 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
The revolver loan agreement bore interest daily at the greater of (i) LIBOR plus 5%, or (ii) 6%, and was secured by substantially all of the Companys assets.
CY2012Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
6000000 USD
us-gaap Line Of Credit Facility Covenant Terms
LineOfCreditFacilityCovenantTerms
Under the agreement, the Company was required to maintain a minimum fixed charge coverage ratio of 1.1 to 1.0, calculated by dividing (a) (i) earnings before interest, taxes, depreciation and amortization (EBITDA) less (ii) unfinanced capital expenditures, by the sum of cash paid for (b) (i) interest and (ii) monitoring and advisory fees (Note 9). Also, the Company was required to generate at least $800,000 in EBITDA measured on a trailing four-quarter basis. Restrictive covenants applied to, among other things, research and development expenditures, additional liens, mergers or consolidations, and sales of assets.
us-gaap Line Of Credit Facility Covenant Terms
LineOfCreditFacilityCovenantTerms
Beginning in 2013, the Company was required to maintain a minimum fixed charge coverage ratio of 1.1 to 1.0. Also beginning in 2013, the Company was required to generate at least $225,000 in EBITDA during the three-month period ending March 31, 2013, $450,000 in EBITDA during the six month period ending June 30, 2013, $675,000 in EBITDA during the nine month period ending September 30, 2013, and $900,000 in EBITDA for the year ended December 31, 2013 and for every quarterly period thereafter measured on a trailing four-quarter basis. Restrictive covenants applied to, among other things, additional liens, mergers or consolidations, and sales of assets.
CY2013Q2 anip Monitoring And Advisory Fee
MonitoringAndAdvisoryFee
433956 USD
CY2012Q2 anip Monitoring And Advisory Fee
MonitoringAndAdvisoryFee
50000 USD
CY2013Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
10271 USD
CY2012Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2392 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
14397 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
4631 USD
anip Monitoring And Advisory Fee
MonitoringAndAdvisoryFee
483956 USD
anip Monitoring And Advisory Fee
MonitoringAndAdvisoryFee
99400 USD
CY2013Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
536720 USD
anip Monitoring And Advisory Fee In Conjunction With Business Combination
MonitoringAndAdvisoryFeeInConjunctionWithBusinessCombination
390000 USD
us-gaap Fair Value Inputs Discount Rate
FairValueInputsDiscountRate
0.15 pure

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