$ANVS
Annovis Bio, Inc.

2022 Q4 Form 10-Q Financial Statement

#000155837022016902 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.592M $2.361M
YoY Change -47.56% 60.31%
% of Gross Profit
Research & Development $1.577M $5.313M
YoY Change -45.32% 284.78%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.169M $7.674M
YoY Change -46.47% 168.92%
Operating Profit -$7.674M
YoY Change 168.92%
Interest Expense $74.15K $52.89K
YoY Change 1260.55% 852.21%
% of Operating Profit
Other Income/Expense, Net $52.89K
YoY Change 852.21%
Pretax Income -$3.095M -$7.621M
YoY Change -47.68% 167.59%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$3.095M -$7.621M
YoY Change -47.68% 167.59%
Net Earnings / Revenue
Basic Earnings Per Share -$0.93
Diluted Earnings Per Share -$0.38 -$0.93
COMMON SHARES
Basic Shares Outstanding 8.164M 8.164M
Diluted Shares Outstanding 8.164M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.38M $31.99M
YoY Change -37.89% -32.6%
Cash & Equivalents $28.38M $31.99M
Short-Term Investments
Other Short-Term Assets $7.644M $499.9K
YoY Change 2323.17% 156.17%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $36.02M $32.49M
YoY Change -21.69% -31.82%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $36.02M $32.49M
Total Long-Term Assets $0.00 $0.00
Total Assets $36.02M $32.49M
YoY Change -21.69% -31.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.961M $1.846M
YoY Change 475.7% 537.02%
Accrued Expenses $3.737M $680.8K
YoY Change 356.64% -18.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.699M $2.527M
YoY Change 411.02% 125.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.699M $2.527M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $7.699M $2.527M
YoY Change 411.02% 125.46%
SHAREHOLDERS EQUITY
Retained Earnings -$54.10M -$50.96M
YoY Change 88.33% 123.4%
Common Stock $816.00 $816.00
YoY Change 0.74% 0.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $28.32M $29.96M
YoY Change
Total Liabilities & Shareholders Equity $36.02M $32.49M
YoY Change -21.69% -31.82%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$3.095M -$7.621M
YoY Change -47.68% 167.59%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$3.609M -$3.987M
YoY Change 104.0% 128.7%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
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 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -3.609M -3.987M
Cash From Investing Activities
Cash From Financing Activities 0.000 0.000
Net Change In Cash -3.609M -3.987M
YoY Change 104.0% 125.41%
FREE CASH FLOW
Cash From Operating Activities -$3.609M -$3.987M
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;">(a) Basis of Presentation of Interim Unaudited Financial Statements</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">The interim financial statements included herein are unaudited. In the opinion of management, these statements include all adjustments, consisting of normal, recurring adjustments, necessary for a fair presentation of the financial position of Annovis at September 30, 2022, and its results of operations and its cash flows for the three and nine months ended September 30, 2022 and 2021. The interim results of operations are not necessarily indicative of the results to be expected for a full year. These interim unaudited financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2021 and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). Any reference in these notes to applicable guidance is meant to refer to </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations relating to interim financial statements.</p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;">(b) Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Due to the uncertainty of factors surrounding the estimates or judgments used in the preparation of the financial statements, actual results may materially vary from these estimates.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Significant items subject to such estimates and assumptions include stock-based compensation expense, progress toward completion of research and development projects, grant income and contingent liabilities. Future events and their effects cannot be predicted with certainty; accordingly, accounting estimates require the exercise of judgment. Accounting estimates used in the preparation of these financial statements change as new events occur, as more experience is acquired, as additional information is obtained and as the operating environment changes.</p>
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CY2022Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
61664
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
43736
CY2022Q3 us-gaap Security Deposit
SecurityDeposit
11103
CY2021Q4 us-gaap Security Deposit
SecurityDeposit
9865
CY2022Q3 anvs Prepaid Expense Security Deposits And Other Assets Current
PrepaidExpenseSecurityDepositsAndOtherAssetsCurrent
499947
CY2021Q4 anvs Prepaid Expense Security Deposits And Other Assets Current
PrepaidExpenseSecurityDepositsAndOtherAssetsCurrent
315464
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
16929
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
13410
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
471698
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
712768
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
209132
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
105672
CY2022Q3 anvs Accrued Liabilities And Interest And Employee Related Liabilities Current
AccruedLiabilitiesAndInterestAndEmployeeRelatedLiabilitiesCurrent
680830
CY2021Q4 anvs Accrued Liabilities And Interest And Employee Related Liabilities Current
AccruedLiabilitiesAndInterestAndEmployeeRelatedLiabilitiesCurrent
818440
us-gaap Operating Lease Expense
OperatingLeaseExpense
50287
us-gaap Operating Lease Expense
OperatingLeaseExpense
36600
CY2020Q1 anvs Number Of Classes Of Stock Designated
NumberOfClassesOfStockDesignated
2
CY2022Q3 anvs Common Stock And Preferred Stock Shares Authorized
CommonStockAndPreferredStockSharesAuthorized
37000000
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
35000000
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2022Q3 anvs Number Of Votes For Each Share Of Common Stock
NumberOfVotesForEachShareOfCommonStock
1
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2356011
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
785942
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7694716
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
817911
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
348294
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.90
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1657342
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1284343
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1489748
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1105568
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-7621446
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-2848216
us-gaap Net Income Loss
NetIncomeLoss
-22233790
us-gaap Net Income Loss
NetIncomeLoss
-8572491
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8163923
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8099103
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8161787
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7466443
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.93
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.72
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.15
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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