$ARTH
Arch Therapeutics, Inc.

2022 Q1 Form 10-Q Financial Statement

#000185173422000084 Filed on February 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2020 Q4
Revenue $3.130K $4.696K $0.00
YoY Change -68.7%
Cost Of Revenue $17.43K $16.79K $0.00
YoY Change 72.54%
Gross Profit -$14.30K -$12.10K $0.00
YoY Change 13919.61%
Gross Profit Margin -456.87% -257.58%
Selling, General & Admin $1.209M $1.263M $890.2K
YoY Change -9.77% 41.89% -8.78%
% of Gross Profit
Research & Development $527.7K $234.6K $343.6K
YoY Change 28.51% -31.72% -46.63%
% of Gross Profit
Depreciation & Amortization $799.00 $799.00 $372.00
YoY Change 29.5% 114.78% -80.82%
% of Gross Profit
Operating Expenses $1.737M $1.498M $1.234M
YoY Change -0.79% 21.39% -23.82%
Operating Profit -$1.751M -$1.510M -$1.234M
YoY Change 0.02% 22.37%
Interest Expense $39.45K $40.33K $29.27K
YoY Change -3.19% 37.8% -172.82%
% of Operating Profit
Other Income/Expense, Net $960.5K -$40.33K $79.68K
YoY Change -2457.17% -150.61%
Pretax Income -$790.3K -$1.550M -$1.154M
YoY Change -55.88% 34.32% -30.47%
Income Tax
% Of Pretax Income
Net Earnings -$790.3K -$1.550M -$1.154M
YoY Change -55.88% 34.32% -30.47%
Net Earnings / Revenue -25249.78% -33009.94%
Basic Earnings Per Share $0.00 -$1.31
Diluted Earnings Per Share -$3.337K -$6.547K -$5.978K
COMMON SHARES
Basic Shares Outstanding 237.2M 237.2M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q1 2021 Q4 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.41K $1.088M $879.4K
YoY Change -99.02% 23.73% -70.91%
Cash & Equivalents $54.41K $1.088M $879.4K
Short-Term Investments
Other Short-Term Assets $180.3K $354.2K $197.1K
YoY Change -60.24% 79.69% -40.17%
Inventory $1.198M $1.198M $1.094M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.432M $2.536M $2.092M
YoY Change -79.07% 21.19% -41.12%
LONG-TERM ASSETS
Property, Plant & Equipment $3.642K $4.441K $4.180K
YoY Change -46.75% 6.24% -56.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.500K $3.500K $3.500K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $7.142K $7.941K $7.680K
YoY Change -30.93% 3.4% -41.15%
TOTAL ASSETS
Total Short-Term Assets $1.432M $2.536M $2.092M
Total Long-Term Assets $7.142K $7.941K $7.680K
Total Assets $1.439M $2.544M $2.100M
YoY Change -79.0% 21.13% -41.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.288M $748.9K $391.2K
YoY Change 130.5% 91.46% -2.59%
Accrued Expenses $156.3K $203.5K $294.0K
YoY Change -8.87% -30.78% 28.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $57.27K
YoY Change
Total Short-Term Liabilities $1.444M $1.952M $742.5K
YoY Change -21.8% 162.97% 17.61%
LONG-TERM LIABILITIES
Long-Term Debt $1.600M $1.600M $1.719M
YoY Change -3.59% -6.92%
Other Long-Term Liabilities $1.454M $1.415M $2.207M
YoY Change 12.36% -35.9% -27.29%
Total Long-Term Liabilities $3.054M $3.015M $3.927M
YoY Change 3.4% -23.22% 29.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.444M $1.952M $742.5K
Total Long-Term Liabilities $3.054M $3.015M $3.927M
Total Liabilities $4.499M $4.967M $4.669M
YoY Change -6.3% 6.39% 27.32%
SHAREHOLDERS EQUITY
Retained Earnings -$52.14M -$51.35M
YoY Change
Common Stock $236.9K $236.8K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.059M -$2.424M -$2.569M
YoY Change
Total Liabilities & Shareholders Equity $1.439M $2.544M $2.100M
YoY Change -79.0% 21.13% -41.12%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2020 Q4
OPERATING ACTIVITIES
Net Income -$790.3K -$1.550M -$1.154M
YoY Change -55.88% 34.32% -30.47%
Depreciation, Depletion And Amortization $799.00 $799.00 $372.00
YoY Change 29.5% 114.78% -80.82%
Cash From Operating Activities -$1.034M -$1.179M -$1.130M
YoY Change -32.64% 4.3% -14.51%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
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 $0.00 $1.050M
YoY Change -100.0% -100.0% -51.55%
NET CHANGE
Cash From Operating Activities -1.034M -$1.179M -$1.130M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 $0.00 $1.050M
Net Change In Cash -1.034M -$1.179M -$79.90K
YoY Change -122.08% 1375.07% -109.48%
FREE CASH FLOW
Cash From Operating Activities -$1.034M -$1.179M -$1.130M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$1.034M -$1.179M -$1.130M
YoY Change -32.49% 4.3% -14.35%

Facts In Submission

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration: underline; ">Use of Estimates</span></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;">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.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration: underline; ">Financial Statement Reclassification </span></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;">Certain balances in the prior year consolidated financial statements have been reclassified for comparison purposes to conform to the presentation in the current period consolidated financial statements.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.44
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
23179998
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.28
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y8M1D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
750 USD
CY2021Q4 arch Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Outstanding Number
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedOutstandingNumber
17759551
CY2021Q4 arch Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Outstanding Weighted Average Exercise Price
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedOutstandingWeightedAverageExercisePrice
0.33
CY2021Q4 arch Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedOutstandingWeightedAverageRemainingContractualTerm
P2Y3D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
23179998
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0.28
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y8M1D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
750 USD
CY2021Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
106000 USD
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M29D

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