$ARTH
Arch Therapeutics, Inc.

2017 Q2 Form 10-Q Financial Statement

#000114420417038706 Filed on July 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q3 2016 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $1.310M $1.340M $1.290M
YoY Change 1.55% 15.52% 59.26%
% of Gross Profit
Research & Development $534.6K $440.0K $438.6K
YoY Change 21.89% 2.33% -16.47%
% of Gross Profit
Depreciation & Amortization $358.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $1.841M $1.780M $1.733M
YoY Change 6.26% 11.25% 29.48%
Operating Profit -$1.841M -$1.733M
YoY Change 6.26% 29.48%
Interest Expense $0.00 -$30.00K $33.10K
YoY Change -100.0% -107.32% -75.36%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.780M -$1.820M -$1.770M
YoY Change 0.56% 65.45% 129.87%
Income Tax
% Of Pretax Income
Net Earnings -$1.776M -$1.820M -$1.766M
YoY Change 0.56% 65.45% 128.61%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$12.11K -$12.40K -$14.63K
COMMON SHARES
Basic Shares Outstanding 150.8M shares 134.2M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.170M $5.040M $5.750M
YoY Change 7.3% 27.27% 75.84%
Cash & Equivalents $6.169M $5.036M
Short-Term Investments
Other Short-Term Assets $150.0K $110.0K $160.0K
YoY Change -6.25% 175.0% 300.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.320M $5.144M $5.900M
YoY Change 7.12% 28.51% 77.71%
LONG-TERM ASSETS
Property, Plant & Equipment $3.458K $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $3.458K $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $6.320M $5.144M $5.900M
Total Long-Term Assets $3.458K $0.00 $0.00
Total Assets $6.320M $5.144M $5.900M
YoY Change 7.12% 28.51% 77.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $210.0K $374.9K $490.0K
YoY Change -57.14% 61.76% -2.0%
Accrued Expenses $160.0K $600.0K $190.0K
YoY Change -15.79% 140.0% -60.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $900.0K $0.00
YoY Change 91.49% -100.0%
Total Short-Term Liabilities $370.3K $1.879M $680.0K
YoY Change -45.54% 46.09% -64.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $80.00K $980.0K
YoY Change -100.0% -91.75% 2.08%
Other Long-Term Liabilities $2.570M $30.00K $300.0K
YoY Change 756.67% -85.71% -95.41%
Total Long-Term Liabilities $2.570M $104.5K $1.280M
YoY Change 100.78% -91.12% 11.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $370.3K $1.879M $680.0K
Total Long-Term Liabilities $2.570M $104.5K $1.280M
Total Liabilities $2.940M $1.983M $1.960M
YoY Change 50.0% -19.47% -35.49%
SHAREHOLDERS EQUITY
Retained Earnings -$21.71M
YoY Change 38.11%
Common Stock $24.88M
YoY Change 44.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.380M $3.161M $3.940M
YoY Change
Total Liabilities & Shareholders Equity $6.320M $5.144M $5.900M
YoY Change 7.12% 28.51% 77.83%

Cashflow Statement

Concept 2017 Q2 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income -$1.776M -$1.820M -$1.766M
YoY Change 0.56% 65.45% 128.61%
Depreciation, Depletion And Amortization $358.00 $0.00
YoY Change
Cash From Operating Activities -$980.0K -$1.090M -$1.330M
YoY Change -26.32% -32.3% 62.2%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
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 -90.00K 370.0K 5.410M
YoY Change -101.66% -83.91% 53.69%
NET CHANGE
Cash From Operating Activities -980.0K -1.090M -1.330M
Cash From Investing Activities 0.000
Cash From Financing Activities -90.00K 370.0K 5.410M
Net Change In Cash -1.070M -720.0K 4.080M
YoY Change -126.23% -204.35% 51.11%
FREE CASH FLOW
Cash From Operating Activities -$980.0K -$1.090M -$1.330M
Capital Expenditures $0.00
Free Cash Flow -$980.0K
YoY Change

Facts In Submission

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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0px"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0px"> <u>Use of Estimates</u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><u>Derivative Liabilities</u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company accounts for its warrants and other derivative financial instruments as either equity or liabilities based upon the characteristics and provisions of each instrument, in accordance with FASB ASC Topic 815, Derivatives and Hedging. Warrants classified as equity are recorded at fair value as of the date of issuance on the Company&#8217;s consolidated balance sheets and no further adjustments to their valuation are made. Warrants classified as derivative liabilities and other derivative financial instruments that require separate accounting as liabilities are recorded on the Company&#8217;s consolidated balance sheets at their fair value on the date of issuance and will be revalued on each subsequent balance sheet date until such instruments are exercised or expire, with any changes in the fair value between reporting periods recorded as other income or expense. Management estimates the fair value of these liabilities using option pricing models and assumptions that are based on the individual characteristics of the warrants or instruments on the valuation date, as well as assumptions for future financings, expected volatility, expected life, yield, and risk-free interest rate.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

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