2021 Q4 Form 10-Q Financial Statement

#000117184321007858 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.106M $3.606M $5.740M
YoY Change -28.72% -37.18% 155.11%
% of Gross Profit
Research & Development $20.20M $7.718M $7.519M
YoY Change 125.18% 2.65% 58.26%
% of Gross Profit
Depreciation & Amortization $44.00K $36.00K $37.00K
YoY Change 46.67% -2.7% 12.12%
% of Gross Profit
Operating Expenses $24.35M $11.36M $13.29M
YoY Change 64.96% -14.56% 89.18%
Operating Profit
YoY Change
Interest Expense $24.00K $26.00K $50.00K
YoY Change -52.0% -48.0% -72.22%
% of Operating Profit
Other Income/Expense, Net $26.00K $45.00K
YoY Change -42.22% -75.41%
Pretax Income -$24.32M -$11.33M -$13.25M
YoY Change 65.36% -14.47% 93.71%
Income Tax
% Of Pretax Income
Net Earnings -$24.32M -$11.33M -$13.25M
YoY Change 65.32% -14.46% 93.59%
Net Earnings / Revenue
Basic Earnings Per Share -$0.27 -$0.13
Diluted Earnings Per Share -$271.6K -$127.4K -$154.3K
COMMON SHARES
Basic Shares Outstanding 88.95M 88.95M 87.48M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.13M $95.10M $132.7M
YoY Change -35.35% -28.33% 339.4%
Cash & Equivalents $39.11M $75.10M $99.73M
Short-Term Investments $40.01M $20.01M $33.00M
Other Short-Term Assets $133.0K $131.0K $115.0K
YoY Change 3.1% 13.91% 5.5%
Inventory
Prepaid Expenses $2.476M $1.034M $1.106M
Receivables
Other Receivables
Total Short-Term Assets $81.74M $96.27M $133.9M
YoY Change -34.65% -28.13% 337.61%
LONG-TERM ASSETS
Property, Plant & Equipment $323.0K $353.0K $272.0K
YoY Change 23.75% 29.78% -24.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $788.0K $932.0K $1.313M
YoY Change -33.56% -29.02% -29.1%
TOTAL ASSETS
Total Short-Term Assets $81.74M $96.27M $133.9M
Total Long-Term Assets $788.0K $932.0K $1.313M
Total Assets $82.53M $97.20M $135.3M
YoY Change -34.64% -28.14% 316.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.699M $1.630M $1.529M
YoY Change -21.74% 6.61% 30.24%
Accrued Expenses $6.016M $6.188M $3.378M
YoY Change 46.66% 83.19% 52.09%
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 $8.174M $8.300M $5.444M
YoY Change 19.99% 52.46% 39.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $115.0K $218.0K $700.0K
YoY Change -77.0% -68.86%
Total Long-Term Liabilities $115.0K $218.0K $700.0K
YoY Change -77.0% -68.86% -36.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.174M $8.300M $5.444M
Total Long-Term Liabilities $115.0K $218.0K $700.0K
Total Liabilities $8.289M $8.518M $6.102M
YoY Change 12.82% 39.59% 21.26%
SHAREHOLDERS EQUITY
Retained Earnings -$422.5M -$398.2M -$342.4M
YoY Change 18.3% 16.28% 16.39%
Common Stock $437.4M $429.8M $429.5M
YoY Change 1.83% 0.08% 47.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $74.24M $88.68M $129.2M
YoY Change
Total Liabilities & Shareholders Equity $82.53M $97.20M $135.3M
YoY Change -34.64% -28.14% 316.69%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$24.32M -$11.33M -$13.25M
YoY Change 65.32% -14.46% 93.59%
Depreciation, Depletion And Amortization $44.00K $36.00K $37.00K
YoY Change 46.67% -2.7% 12.12%
Cash From Operating Activities -$16.04M -$8.059M -$8.270M
YoY Change 55.01% -2.55% 59.53%
INVESTING ACTIVITIES
Capital Expenditures -$14.00K $181.0K $0.00
YoY Change -53.33% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$20.00M -$4.000K -$4.380M
YoY Change -171.44% -99.91% 338.0%
Cash From Investing Activities -$20.01M -$185.0K -$4.398M
YoY Change -171.57% -95.79% 322.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $58.23M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 66.00K $0.00 $58.28M
YoY Change 65.0% -100.0% 342741.18%
NET CHANGE
Cash From Operating Activities -16.04M -$8.059M -$8.270M
Cash From Investing Activities -20.01M -$185.0K -$4.398M
Cash From Financing Activities 66.00K $0.00 $58.28M
Net Change In Cash -35.99M -$8.248M $45.62M
YoY Change -303.9% -118.08% -834.3%
FREE CASH FLOW
Cash From Operating Activities -$16.04M -$8.059M -$8.270M
Capital Expenditures -$14.00K $181.0K $0.00
Free Cash Flow -$16.03M -$8.240M -$8.270M
YoY Change 55.33% -0.36% 58.25%

Facts In Submission

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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q3 us-gaap Accrued Liabilities Current
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CY2020Q4 us-gaap Accrued Liabilities Current
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us-gaap Use Of Estimates
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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;"><tbody><tr><td style="width:36pt;"/><td style="vertical-align:top;width:18pt;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">(c)</p> </td><td style="vertical-align:top;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Significant accounting policies, estimates and judgments:</p> </td></tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 54pt;">During the <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> September 30, 2021, </em>there have been <em style="font: inherit;">no</em> changes to our significant accounting policies as described in our Annual Report on Form <em style="font: inherit;">10</em>-K for the fiscal year ended <em style="font: inherit;"> December 31, 2020.</em></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 54pt;">The preparation of the condensed consolidated interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting period. Actual outcomes could differ from those estimates. The condensed consolidated interim financial statements include estimates, which, by their nature, are uncertain.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 54pt;">The impacts of such estimates are pervasive throughout the condensed consolidated interim financial statements and <em style="font: inherit;"> may </em>require accounting adjustments based on future occurrences.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 54pt;">The estimates and underlying assumptions are reviewed on a regular basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
us-gaap Concentration Risk Credit Risk
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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;"><tbody><tr><td style="width:36pt;"/><td style="vertical-align:top;width:18pt;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">(e)</p> </td><td style="vertical-align:top;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Concentration of risk:</p> </td></tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 54pt;">The Company is subject to credit risk from the Company’s cash and cash equivalents and investments. The carrying amount of the financial assets represents the maximum credit exposure. The Company manages credit risk associated with its cash and cash equivalents and investments by maintaining minimum standards of <em style="font: inherit;">R1‑low</em> or A‑low investments and the Company invests only in highly rated corporations and treasury bills, which are capable of prompt liquidation.</p>
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q3 us-gaap Other Prepaid Expense Current
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CY2021Q3 us-gaap Prepaid Expense Current
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CY2020Q4 apto Operating Lease Right Of Use Asset Gross
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CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2020Q4 us-gaap Assets Fair Value Disclosure
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CY2021Q3 us-gaap Net Income Loss
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us-gaap Operating Lease Cost
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CY2021Q3 us-gaap Operating Lease Payments
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139000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
467000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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120000 USD
CY2021Q3 apto Lessee Operating Lease Liability To Be Paid After Year Two
LesseeOperatingLeaseLiabilityToBePaidAfterYearTwo
0 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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P1Y4M24D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2021Q3 us-gaap Operating Lease Liability Current
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CY2020Q4 us-gaap Operating Lease Liability Current
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539000 USD
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
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CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2021Q3 us-gaap Operating Lease Liability
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CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1074000 USD
CY2021Q3 us-gaap Operating Lease Cost
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CY2020Q3 us-gaap Operating Lease Cost
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132000 USD
us-gaap Operating Lease Cost
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388000 USD
CY2020Q3 us-gaap Operating Lease Payments
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136000 USD
us-gaap Operating Lease Payments
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416000 USD
us-gaap Operating Lease Payments
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401000 USD
CY2020Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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P8Y1M6D
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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P1Y7M2D
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EarningsPerShareBasicAndDiluted
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us-gaap Earnings Per Share Basic And Diluted
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CY2021Q3 apto Sharebased Compensation Arrangement By Sharebased Payment Award Maximum Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardMaximumNumberOfShares
6343242
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.97
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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2.39
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.47
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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P6Y9M18D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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4.55
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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P6Y8M12D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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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 Stock Issued During Period Shares Stock Options Exercised
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2.49
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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6352000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10635000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17007000 USD

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