$ANIP
ANI PHARMACEUTICALS INC

2013 Q3 Form 10-Q Financial Statement

#000114420413059427 Filed on November 07, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q4 2012 Q3
Revenue $7.836M $1.968M $5.036M
YoY Change 55.6% 1620.31% 2655.18%
Cost Of Revenue $2.710M $2.322M
YoY Change 16.72%
Gross Profit $5.126M $2.714M
YoY Change 88.86%
Gross Profit Margin 65.42% 53.9%
Selling, General & Admin $3.480M $4.190M $1.257M
YoY Change 176.9% 143.6% -25.19%
% of Gross Profit 67.89% 46.3%
Research & Development $454.0K $2.515M $148.7K
YoY Change 205.42% -62.48% -98.71%
% of Gross Profit 8.86% 5.48%
Depreciation & Amortization $382.0K $480.0K $144.0K
YoY Change 165.35% 1500.0% 303.59%
% of Gross Profit 7.45% 5.3%
Operating Expenses $3.934M $2.515M $1.405M
YoY Change 179.92% -62.48% -87.78%
Operating Profit $810.0K -$3.635M -$207.4K
YoY Change -490.55% -56.42% -98.41%
Interest Expense $0.00 $81.23K
YoY Change -100.0% -52.78%
% of Operating Profit 0.0%
Other Income/Expense, Net $148.0K -$91.21K
YoY Change -262.27%
Pretax Income $958.0K $22.24M -$379.8K
YoY Change -352.22% -434.44% -97.02%
Income Tax -$83.00K $90.00K $866.00
% Of Pretax Income -8.66% 0.4%
Net Earnings $1.191M $22.22M -$377.3K
YoY Change -415.62% -434.14% -97.04%
Net Earnings / Revenue 15.2% 1129.31% -7.49%
Basic Earnings Per Share $0.13
Diluted Earnings Per Share $0.13 -$1.602M
COMMON SHARES
Basic Shares Outstanding 9.480M shares 22.92M shares
Diluted Shares Outstanding 9.480M shares 22.92M shares

Balance Sheet

Concept 2013 Q3 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.90M $0.00 $38.00M
YoY Change -71.32% -100.0% -45.4%
Cash & Equivalents $10.93M $11.00K $148.3K
Short-Term Investments
Other Short-Term Assets $2.900M $300.0K $500.0K
YoY Change 480.0% -62.5% -44.44%
Inventory $2.809M $2.810M
Prepaid Expenses $580.6K $313.0K
Receivables $9.515M $5.432M
Other Receivables $0.00 $0.00
Total Short-Term Assets $26.09M $8.566M $38.58M
YoY Change -32.37% -85.24% -45.27%
LONG-TERM ASSETS
Property, Plant & Equipment $4.640M $4.880M $1.185M
YoY Change 291.68% 466.54% 31.64%
Goodwill $1.838M $0.00
YoY Change
Intangibles $10.71M $85.00K
YoY Change
Long-Term Investments $3.400M
YoY Change 0.0%
Other Assets $12.55M $302.3K $0.00
YoY Change 202.29% -100.0%
Total Long-Term Assets $17.19M $5.182M $4.629M
YoY Change 271.41% 19.03% 5.2%
TOTAL ASSETS
Total Short-Term Assets $26.09M $8.566M $38.58M
Total Long-Term Assets $17.19M $5.182M $4.629M
Total Assets $43.29M $13.75M $43.21M
YoY Change 0.17% -77.96% -42.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.087M $1.994M $2.005M
YoY Change 4.09% -36.71% -66.59%
Accrued Expenses $1.338M $927.0K $1.300M
YoY Change 2.94% -77.39% -69.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $4.100M $0.00
YoY Change
Long-Term Debt Due $7.600M
YoY Change 533.33%
Total Short-Term Liabilities $6.597M $7.712M $10.92M
YoY Change -39.6% 6.7% -5.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $48.80M $0.00
YoY Change 182.08% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $48.80M $0.00
YoY Change 182.08% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.597M $7.712M $10.92M
Total Long-Term Liabilities $0.00 $48.80M $0.00
Total Liabilities $6.600M $10.59M $10.92M
YoY Change -39.57% -56.87% -64.42%
SHAREHOLDERS EQUITY
Retained Earnings -$51.90M -$43.80M -$241.0M
YoY Change -78.46% -79.84% 14.43%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $432.6K $0.00
YoY Change
Treasury Stock Shares 59.09K shares
Shareholders Equity $36.69M -$42.72M $32.30M
YoY Change
Total Liabilities & Shareholders Equity $43.29M $13.75M $43.21M
YoY Change 0.17% -77.96% -42.31%

Cashflow Statement

Concept 2013 Q3 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income $1.191M $22.22M -$377.3K
YoY Change -415.62% -434.14% -97.04%
Depreciation, Depletion And Amortization $382.0K $480.0K $144.0K
YoY Change 165.35% 1500.0% 303.59%
Cash From Operating Activities -$1.630M $21.98M -$7.380M
YoY Change -77.91% -301.1% -41.34%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K $240.0K -$470.0K
YoY Change -93.62% -442.86% 327.27%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.00K $0.00
YoY Change
Cash From Investing Activities -$30.00K $250.0K -$470.0K
YoY Change -93.62% -457.14% 327.27%
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 -3.040M 3.480M
YoY Change -100.0% 120.29% -92.29%
NET CHANGE
Cash From Operating Activities -1.630M 21.98M -7.380M
Cash From Investing Activities -30.00K 250.0K -470.0K
Cash From Financing Activities 0.000 -3.040M 3.480M
Net Change In Cash -1.660M 19.19M -4.370M
YoY Change -62.01% -255.01% -113.46%
FREE CASH FLOW
Cash From Operating Activities -$1.630M $21.98M -$7.380M
Capital Expenditures -$30.00K $240.0K -$470.0K
Free Cash Flow -$1.600M $21.74M -$6.910M
YoY Change -76.85% -300.18% -44.59%

Facts In Submission

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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
76888 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2619380 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
421605 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
18036027 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-76888 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-4065307 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
364362 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
260748 USD
CY2013Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
664180 USD
CY2013Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
131613 USD
CY2012Q3 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
1617 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
432562 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-4497869 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
103614 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
0 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-300000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4497869 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-196386 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
10918778 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
148331 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0 USD
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
148331 USD
us-gaap Interest Paid
InterestPaid
249612 USD
us-gaap Stock Issued1
StockIssued1
40033695 USD
us-gaap Stock Issued1
StockIssued1
0 USD
anip Cancellation Of Redeemable Convertible Preferred And Common Stock Value
CancellationOfRedeemableConvertiblePreferredAndCommonStockValue
57296106 USD
anip Cancellation Of Redeemable Convertible Preferred And Common Stock Value
CancellationOfRedeemableConvertiblePreferredAndCommonStockValue
0 USD
us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
10900000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 USD
anip Noncash Or Part Noncash Acquisition Restricted Cash
NoncashOrPartNoncashAcquisitionRestrictedCash
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 Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
3479979 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
0 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
4974199 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
4326622 USD
anip Stock Issued During Period Value Cashless Warrants Exercise
StockIssuedDuringPeriodValueCashlessWarrantsExercise
0 USD
anip Stock Issued During Period Value Cashless Warrants Exercise
StockIssuedDuringPeriodValueCashlessWarrantsExercise
4984 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
0 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
17609646 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2951 USD
us-gaap Share Based Compensation
ShareBasedCompensation
0 USD
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;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <strong><font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> Overview</font></strong><font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> &#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> ANI Pharmaceuticals, Inc. (the &#8220;Company&#8221;) 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;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> &#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> On June 19, 2013, BioSante Pharmaceuticals, Inc. (&#8220;BioSante&#8221;) 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 are included in the Company&#8217;s financial statements for all periods after completion of the Merger.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> &#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> 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&#8217;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 September 30, 2014.</font></div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <strong><font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt">Credit Concentration</font></strong><font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> &#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> The Company&#8217;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;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> &#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> During the three month period ended September 30, 2013, two customers represented <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 27</font>% and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 19</font>% of net revenues. During the three month period ended September 30, 2012, these same customers represented <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 24</font>% and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 25</font>% of net revenues, respectively. As of September 30, 2013, accounts receivable from these customers totaled $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">6,105,271</font>. During the nine month period ended September 30, 2013, four customers represented approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 28</font>%, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 18</font>%, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10</font>%, and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">5</font>% of net revenues. During the nine month period ended September 30, 2012, these same four customers represented <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 24</font>%, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 21</font>%, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 8</font>%, and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 12</font>% of net revenues, respectively.</font></div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2013Q3 anip Fdic Guaranteed Amount
FdicGuaranteedAmount
250000 USD
CY2013Q3 us-gaap Depreciation
Depreciation
133972 USD
CY2012Q3 us-gaap Depreciation
Depreciation
131459 USD
us-gaap Depreciation
Depreciation
400101 USD
CY2013Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
909792 shares
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
242247 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
498647 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
115351 shares
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;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <strong><font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt">Use of Estimates</font></strong><font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> &#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"> 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, and the depreciable lives of fixed assets. Actual results could differ from those estimates.</font></div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
anip Reverse Stock Split Ratio Description
ReverseStockSplitRatioDescription
one-for-six
CY2013Q3 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Legal Fee
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsLegalFee
1226535 USD
CY2013Q3 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Accounting Fees
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsAccountingFees
121748 USD
CY2013Q3 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Consulting Fees
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsConsultingFees
119194 USD
CY2013Q3 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Monitory And Advisory Fees
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsMonitoryAndAdvisoryFees
390000 USD
CY2012 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
928695 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
6159138 USD
CY2013Q2 us-gaap Share Price
SharePrice
1.22
CY2013Q3 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Transaction Bonuses
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsTransactionBonuses
4801364 USD
CY2013Q3 anip Business Acquisition Cost Of Acquired Entity Transaction Costs Other Expenses
BusinessAcquisitionCostOfAcquiredEntityTransactionCostsOtherExpenses
428992 USD
CY2013Q3 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
7087833 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 Restricted Cash
BusinessCombinationPurchasePriceAllocationRestrictedCash
2260100 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Intangible Assets
BusinessCombinationPurchasePriceAllocationIntangibleAssets
10900000 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Other Assets
BusinessCombinationPurchasePriceAllocationOtherAssets
79261 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Deferred Tax Assets Net
BusinessCombinationPurchasePriceAllocationDeferredTaxAssetsNet
0 USD
CY2013Q2 anip Business Combination Purchase Price Allocation Goodwill
BusinessCombinationPurchasePriceAllocationGoodwill
1838309 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
CY2012Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-6246057 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-3178713 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-23066678 USD
CY2013Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
16568775 USD
CY2012Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
11556510 USD
CY2013Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
7053679 USD
CY2012Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
6124109 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
CY2013Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
7836222 USD
CY2012Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
5146407 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
19694710 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
15382782 USD
CY2013Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
1691720 USD
CY2013Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
1407457 USD
CY2012Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
974967 USD
CY2013Q3 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
650058 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1010910 USD
CY2012Q4 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
584654 USD
CY2013Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
171464 USD
CY2012Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
374257 USD
CY2012Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
890683 USD
CY2013Q3 us-gaap Inventory Gross
InventoryGross
2893159 USD
CY2012Q4 us-gaap Inventory Gross
InventoryGross
2824561 USD
CY2013Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
83999 USD
CY2012Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
14876 USD
CY2013Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
247727 USD
CY2012Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12500 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
272727 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
37500 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
11060000 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
347727 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
160000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
75000 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
247728 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
997577 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1010910 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1004243 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
6440905 USD
CY2013Q3 anip Finite Lived Intangible Assets Amortization Expense Total
FiniteLivedIntangibleAssetsAmortizationExpenseTotal
10712273 USD
CY2012Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
370766 USD
CY2013Q3 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
150337 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
150337 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
67793 USD
CY2013Q3 us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
82852 USD
CY2012Q3 us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
866 USD
us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
82852 USD
us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
36327 USD
CY2011Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
3500000 USD
CY2012Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
6000000 USD
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 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.
CY2011Q4 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
Base Rate, as defined, plus 6.0%
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.
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 10). 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.
CY2012Q2 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.00375 pure
CY2013Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
478169 USD
CY2013Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
11324 USD
CY2012Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2356 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
25721 USD
CY2013Q3 anip Monitoring And Advisory Fee
MonitoringAndAdvisoryFee
0 USD
CY2012Q3 anip Monitoring And Advisory Fee
MonitoringAndAdvisoryFee
50000 USD
anip Monitoring And Advisory Fee
MonitoringAndAdvisoryFee
483956 USD
anip Monitoring And Advisory Fee
MonitoringAndAdvisoryFee
150000 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

Files In Submission

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0001144204-13-059427-index-headers.html Edgar Link pending
0001144204-13-059427-index.html Edgar Link pending
0001144204-13-059427.txt Edgar Link pending
0001144204-13-059427-xbrl.zip Edgar Link pending
anip-20130930.xml Edgar Link completed
anip-20130930.xsd Edgar Link pending
anip-20130930_cal.xml Edgar Link unprocessable
anip-20130930_def.xml Edgar Link unprocessable
anip-20130930_lab.xml Edgar Link unprocessable
anip-20130930_pre.xml Edgar Link unprocessable
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