$ARTH
Arch Therapeutics, Inc.

2022 Q3 Form 10-Q Financial Statement

#000185173422000438 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.570K $6.261K $3.130K
YoY Change 0.0% -68.7%
Cost Of Revenue $130.00 $17.14K $17.43K
YoY Change -99.2% 72.54%
Gross Profit $1.440K -$10.88K -$14.30K
YoY Change -109.86% 13919.61%
Gross Profit Margin 91.72% -173.76% -456.87%
Selling, General & Admin $1.211M $836.2K $1.209M
YoY Change -14.02% -38.98% -9.77%
% of Gross Profit 84125.69%
Research & Development $231.2K $159.8K $527.7K
YoY Change -23.27% -46.28% 28.51%
% of Gross Profit 16056.25%
Depreciation & Amortization $800.00 $799.00 $799.00
YoY Change 0.0% 0.0% 29.5%
% of Gross Profit 55.56%
Operating Expenses $1.443M $996.1K $1.737M
YoY Change -15.65% -40.28% -0.79%
Operating Profit -$1.441M -$1.007M -$1.751M
YoY Change -16.45% -39.63% 0.02%
Interest Expense -$447.4K $39.89K $39.45K
YoY Change 1009.3% -0.74% -3.19%
% of Operating Profit
Other Income/Expense, Net -$39.89K $960.5K
YoY Change -128.9% -2457.17%
Pretax Income -$1.889M -$1.047M -$790.3K
YoY Change 6.99% -31.58% -55.88%
Income Tax
% Of Pretax Income
Net Earnings -$1.889M -$1.047M -$790.3K
YoY Change 6.99% -31.58% -55.88%
Net Earnings / Revenue -120290.45% -16719.85% -25249.78%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share -$7.582K -$4.418K -$3.337K
COMMON SHARES
Basic Shares Outstanding 249.9M 237.1M 237.2M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $746.9K $55.00K $54.41K
YoY Change -67.05% -98.54% -99.02%
Cash & Equivalents $746.9K $54.98K $54.41K
Short-Term Investments
Other Short-Term Assets $436.4K $83.49K $180.3K
YoY Change 42.0% -77.96% -60.24%
Inventory $1.415M $1.428M $1.198M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.598M $1.567M $1.432M
YoY Change -29.16% -68.58% -79.07%
LONG-TERM ASSETS
Property, Plant & Equipment $2.044K $2.843K $3.642K
YoY Change -60.99% -52.92% -46.75%
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 $5.544K $6.343K $7.142K
YoY Change -36.57% -33.5% -30.93%
TOTAL ASSETS
Total Short-Term Assets $2.598M $1.567M $1.432M
Total Long-Term Assets $5.544K $6.343K $7.142K
Total Assets $2.604M $1.573M $1.439M
YoY Change -29.18% -68.51% -79.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.328M $1.696M $1.288M
YoY Change 225.42% 511.92% 130.5%
Accrued Expenses $446.3K $223.1K $156.3K
YoY Change 39.7% 32.29% -8.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $550.0K
YoY Change
Total Short-Term Liabilities $3.320M $1.919M $1.444M
YoY Change 92.21% 32.75% -21.8%
LONG-TERM LIABILITIES
Long-Term Debt $2.812M $2.175M $1.600M
YoY Change 75.77% 35.94% -3.59%
Other Long-Term Liabilities $663.8K $1.494M $1.454M
YoY Change -51.71% 11.99% 12.36%
Total Long-Term Liabilities $3.476M $3.669M $3.054M
YoY Change 16.86% 25.05% 3.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.320M $1.919M $1.444M
Total Long-Term Liabilities $3.476M $3.669M $3.054M
Total Liabilities $6.797M $5.589M $4.499M
YoY Change 44.54% 27.59% -6.3%
SHAREHOLDERS EQUITY
Retained Earnings -$55.07M -$53.18M -$52.14M
YoY Change 10.59% 10.73%
Common Stock $50.88M $237.0K $236.9K
YoY Change 4.32% -99.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.193M -$4.015M -$3.059M
YoY Change
Total Liabilities & Shareholders Equity $2.604M $1.573M $1.439M
YoY Change -29.18% -68.51% -79.0%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.889M -$1.047M -$790.3K
YoY Change 6.99% -31.58% -55.88%
Depreciation, Depletion And Amortization $800.00 $799.00 $799.00
YoY Change 0.0% 0.0% 29.5%
Cash From Operating Activities -$1.669M -$574.4K -$1.034M
YoY Change 10.37% -67.76% -32.64%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -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 2.361M 575.0K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -1.669M -574.4K -1.034M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 2.361M 575.0K 0.000
Net Change In Cash 691.9K 590.0 -1.034M
YoY Change -145.75% -100.03% -122.08%
FREE CASH FLOW
Cash From Operating Activities -$1.669M -$574.4K -$1.034M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$1.669M -$574.4K -$1.034M
YoY Change 10.37% -67.76% -32.49%

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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2819881 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2266639 usd
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
959309 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
54977 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3779190 usd
arch Issuance Of Restricted Stock For Services
IssuanceOfRestrictedStockForServices
29831 usd
arch Issuance Of Restricted Stock For Services
IssuanceOfRestrictedStockForServices
103750 usd
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
28516 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2843 usd
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5240 usd
CY2022Q2 us-gaap Depreciation
Depreciation
799 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
us-gaap Use Of Estimates
UseOfEstimates
<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 expense 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>
CY2022Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration: underline; ">Concentration of Credit Risk</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;">Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash. The Company maintains its cash in bank deposits accounts, which, at times, <em style="font: inherit;"> may </em>exceed federally insured limits. The Company has <em style="font: inherit;">not</em> experienced any losses in such accounts. The Company believes it is <em style="font: inherit;">not</em> exposed to any significant credit risk on cash.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
us-gaap Depreciation
Depreciation
2397 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33756 usd
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33756 usd
us-gaap Depreciation
Depreciation
1788 usd
CY2022Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
0 usd
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
249571 usd
CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1428264 usd
CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
844194 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
1428264 usd
CY2021Q3 us-gaap Inventory Net
InventoryNet
1093765 usd
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
24899014
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.29
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y9M29D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
140151 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
675000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.06
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
3083818
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.33
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
22490196
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.28
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y5M19D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2022Q2 arch Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Outstanding Number
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedOutstandingNumber
19135976
CY2022Q2 arch Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Outstanding Weighted Average Exercise Price
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedOutstandingWeightedAverageExercisePrice
0.31
arch Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedOutstandingWeightedAverageRemainingContractualTerm
P1Y8M12D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
22490196
CY2022Q2 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
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y5M19D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0 usd
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
230633 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M14D
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationIssues
-0 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationIssues
-0 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationIssues
-0 usd
arch Proceeds From Advances From Investors
ProceedsFromAdvancesFromInvestors
575000 usd
dei Entity Registrant Name
EntityRegistrantName
Arch Therapeutics, Inc.

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0001851734-22-000438.txt Edgar Link pending
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arch-20220630.xsd Edgar Link pending
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