2023 Q1 Form 10-K Financial Statement
#000164033423000509 Filed on March 31, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $1.057M | $1.750M | $5.963M |
YoY Change | -28.68% | 36.83% | 184.22% |
% of Gross Profit | |||
Research & Development | $1.235M | $1.726M | $4.324M |
YoY Change | 166.16% | 35.59% | 52.31% |
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $2.292M | $3.476M | $10.29M |
YoY Change | 17.78% | 36.21% | 38.25% |
Operating Profit | -$2.292M | -$10.29M | |
YoY Change | 17.78% | 38.25% | |
Interest Expense | $124.0K | $137.0K | $5.000K |
YoY Change | -752.63% | 4466.67% | -16.67% |
% of Operating Profit | |||
Other Income/Expense, Net | $124.0K | $204.0K | |
YoY Change | -752.63% | 5000.0% | |
Pretax Income | -$2.168M | -$3.339M | -$10.08M |
YoY Change | 10.33% | 31.04% | 149.89% |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$2.168M | -$3.339M | -$10.08M |
YoY Change | 10.33% | 31.04% | 35.58% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$0.76 | -$1.18 | -$3.56 |
COMMON SHARES | |||
Basic Shares Outstanding | 2.856M shares | 2.856M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $6.916M | $8.383M | $17.53M |
YoY Change | -67.85% | -65.23% | -27.29% |
Cash & Equivalents | $6.916M | $6.888M | $6.888M |
Short-Term Investments | $0.00 | $1.495M | $10.65M |
Other Short-Term Assets | $903.0K | $789.0K | $789.0K |
YoY Change | -16.23% | 53.5% | 59.07% |
Inventory | |||
Prepaid Expenses | $903.0K | $789.0K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $16.39M | $18.32M | $18.32M |
YoY Change | -33.36% | -25.55% | -25.55% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $50.00K | $60.00K | $60.00K |
YoY Change | -31.51% | -27.71% | -25.93% |
Goodwill | |||
YoY Change | |||
Intangibles | $2.039M | $2.039M | |
YoY Change | 0.0% | 0.0% | |
Long-Term Investments | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
Other Assets | $3.000K | $3.000K | $3.000K |
YoY Change | 0.0% | 0.0% | 0.0% |
Total Long-Term Assets | $2.092M | $2.102M | $2.102M |
YoY Change | -1.09% | -42.28% | -42.28% |
TOTAL ASSETS | |||
Total Short-Term Assets | $16.39M | $18.32M | $18.32M |
Total Long-Term Assets | $2.092M | $2.102M | $2.102M |
Total Assets | $18.48M | $20.42M | $20.42M |
YoY Change | -30.8% | -27.71% | -27.71% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $701.0K | $905.0K | $905.0K |
YoY Change | -12.38% | 53.39% | -7.18% |
Accrued Expenses | $37.00K | $40.00K | $40.00K |
YoY Change | 15.63% | 29.03% | 29.03% |
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 | $825.0K | $998.0K | $998.0K |
YoY Change | -5.71% | -2.82% | -2.82% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $15.00K | $23.00K | $23.00K |
YoY Change | -69.39% | -61.02% | -59.65% |
Total Long-Term Liabilities | $15.00K | $23.00K | $23.00K |
YoY Change | -69.39% | -61.02% | -59.65% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $825.0K | $998.0K | $998.0K |
Total Long-Term Liabilities | $15.00K | $23.00K | $23.00K |
Total Liabilities | $840.0K | $1.021M | $1.021M |
YoY Change | -9.09% | -5.81% | -5.81% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$33.19M | -$31.02M | |
YoY Change | 44.91% | 48.16% | |
Common Stock | $3.000K | $3.000K | |
YoY Change | -92.86% | -92.86% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $17.64M | $19.40M | $19.40M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $18.48M | $20.42M | $20.42M |
YoY Change | -30.8% | -27.71% | -27.71% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.168M | -$3.339M | -$10.08M |
YoY Change | 10.33% | 31.04% | 35.58% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$2.186M | -$2.293M | -$8.008M |
YoY Change | 6.48% | 19.06% | 30.4% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $2.199M | $1.796M | $2.958M |
YoY Change | 755.64% | -120.23% | -129.48% |
Cash From Investing Activities | $2.199M | $1.796M | $2.958M |
YoY Change | 755.64% | -120.23% | -186.01% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | -100.0% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $0.00 | 134.0K | $0.00 |
YoY Change | -99.27% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -$2.186M | -2.293M | -$8.008M |
Cash From Investing Activities | $2.199M | 1.796M | $2.958M |
Cash From Financing Activities | $0.00 | 134.0K | $0.00 |
Net Change In Cash | $28.00K | -363.0K | -$5.274M |
YoY Change | -101.55% | -104.87% | -216.37% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$2.186M | -$2.293M | -$8.008M |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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StockholdersEquity
|
27167000 | usd |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
12042000 | usd |
CY2022Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
20424000 | usd |
CY2021Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
28251000 | usd |
CY2021Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
12635000 | usd |
CY2022 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5963000 | usd |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2098000 | usd | |
CY2021 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4602000 | usd |
CY2022 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4324000 | usd |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1944000 | usd | |
CY2021 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2839000 | usd |
CY2022 | us-gaap |
Operating Expenses
OperatingExpenses
|
10287000 | usd |
us-gaap |
Operating Expenses
OperatingExpenses
|
4042000 | usd | |
CY2021 | us-gaap |
Operating Expenses
OperatingExpenses
|
7441000 | usd |
CY2022 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-10287000 | usd |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4042000 | usd | |
CY2021 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-7441000 | usd |
CY2022 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
2000 | usd |
us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
1000 | usd | |
CY2021 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
2000 | usd |
CY2022 | us-gaap |
Interest Expense
InterestExpense
|
5000 | usd |
us-gaap |
Interest Expense
InterestExpense
|
0 | usd | |
CY2021 | us-gaap |
Interest Expense
InterestExpense
|
0 | usd |
CY2022 | artl |
Net Change In Fair Value Of Trading Marketable Securities
NetChangeInFairValueOfTradingMarketableSecurities
|
207000 | usd |
artl |
Net Change In Fair Value Of Trading Marketable Securities
NetChangeInFairValueOfTradingMarketableSecurities
|
6000 | usd | |
CY2021 | artl |
Net Change In Fair Value Of Trading Marketable Securities
NetChangeInFairValueOfTradingMarketableSecurities
|
2000 | usd |
CY2022 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
204000 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
7000 | usd | |
CY2021 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
4000 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd | |
CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10083000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4035000 | usd | |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7437000 | usd |
CY2022 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
24000 | usd |
us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
5000 | usd | |
CY2021 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
0 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-212000 | usd |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-31000 | usd | |
CY2021 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-46000 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-236000 | usd |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-36000 | usd | |
CY2021 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-46000 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-10319000 | usd |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-4071000 | usd | |
CY2021 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-7483000 | usd |
CY2022 | artl |
Earnings Per Share Basics And Diluted
EarningsPerShareBasicsAndDiluted
|
-3.56 | |
artl |
Earnings Per Share Basics And Diluted
EarningsPerShareBasicsAndDiluted
|
-1.81 | ||
CY2021 | artl |
Earnings Per Share Basics And Diluted
EarningsPerShareBasicsAndDiluted
|
-5.97 | |
CY2022 | artl |
Weighted Average Number Of Share Outstanding Basics And Diluted
WeightedAverageNumberOfShareOutstandingBasicsAndDiluted
|
2833000 | shares |
artl |
Weighted Average Number Of Share Outstanding Basics And Diluted
WeightedAverageNumberOfShareOutstandingBasicsAndDiluted
|
2230000 | shares | |
CY2021 | artl |
Weighted Average Number Of Share Outstanding Basics And Diluted
WeightedAverageNumberOfShareOutstandingBasicsAndDiluted
|
1245000 | shares |
CY2020Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3875000 | usd |
CY2021 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
8103000 | usd |
CY2021 | artl |
Common Shares Issued For Exercise Of Warrant Amount
CommonSharesIssuedForExerciseOfWarrantAmount
|
6016000 | usd |
CY2021 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
34000 | usd |
CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1531000 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7437000 | usd |
CY2021 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-46000 | usd |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
12042000 | usd |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
18262000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
934000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4035000 | usd | |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-36000 | usd | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
27167000 | usd |
CY2022 | artl |
Common Shares Issued As Commitment Fee Amount
CommonSharesIssuedAsCommitmentFeeAmount
|
97000 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2458000 | usd |
CY2022 | artl |
Stock Issued During Period Shares Value Reverse Stock Splits
StockIssuedDuringPeriodSharesValueReverseStockSplits
|
0 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10083000 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-236000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
19403000 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
10083000 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
4035000 | usd | |
CY2021 | us-gaap |
Profit Loss
ProfitLoss
|
7437000 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2458000 | usd |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
934000 | usd | |
CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1531000 | usd |
CY2022 | us-gaap |
Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
|
-207000 | usd |
us-gaap |
Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
|
-6000 | usd | |
CY2021 | us-gaap |
Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
|
2000 | usd |
CY2022 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
39000 | usd |
us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
10000 | usd | |
CY2021 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
7000 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
195000 | usd |
us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
63000 | usd | |
CY2021 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
239000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-10000 | usd |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
507000 | usd | |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-3000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
33000 | usd |
us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
-7000 | usd | |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
0 | usd |
CY2022 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-43000 | usd |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-7000 | usd | |
CY2021 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-2000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-8008000 | usd |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2667000 | usd | |
CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-6141000 | usd |
CY2022 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
12725000 | usd |
us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
11243000 | usd | |
CY2021 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
6098000 | usd |
CY2022 | us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
499000 | usd |
us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
1524000 | usd | |
CY2021 | us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
0 | usd |
CY2022 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
15657000 | usd |
us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
2734000 | usd | |
CY2021 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
2659000 | usd |
CY2022 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
525000 | usd |
us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
0 | usd | |
CY2021 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
0 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
2958000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | usd |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
18262000 | usd | |
CY2021 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
8103000 | usd |
CY2022 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
0 | usd |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
0 | usd | |
CY2021 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
6016000 | usd |
CY2022 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
0 | usd |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
0 | usd | |
CY2021 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
1000 | usd |
CY2022 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
0 | usd |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
1000 | usd | |
CY2021 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
8000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
18261000 | usd | |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
14112000 | usd |
CY2022 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-224000 | usd |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-28000 | usd | |
CY2021 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-45000 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-5274000 | usd |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
5533000 | usd | |
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
4487000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12162000 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6629000 | usd |
CY2020Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2142000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6888000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12162000 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6629000 | usd |
CY2022 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd | |
CY2021 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd | |
CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2022 | artl |
Initial Recognition Of The Right Of Use Asset And Lease Liability
InitialRecognitionOfTheRightOfUseAssetAndLeaseLiability
|
20000 | usd |
artl |
Initial Recognition Of The Right Of Use Asset And Lease Liability
InitialRecognitionOfTheRightOfUseAssetAndLeaseLiability
|
0 | usd | |
CY2021 | artl |
Initial Recognition Of The Right Of Use Asset And Lease Liability
InitialRecognitionOfTheRightOfUseAssetAndLeaseLiability
|
97000 | usd |
CY2022 | artl |
Common Shares Issued As Commitment Fee
CommonSharesIssuedAsCommitmentFee
|
97000 | usd |
artl |
Common Shares Issued As Commitment Fee
CommonSharesIssuedAsCommitmentFee
|
0 | usd | |
CY2021 | artl |
Common Shares Issued As Commitment Fee
CommonSharesIssuedAsCommitmentFee
|
0 | usd |
CY2022 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
24000 | usd |
us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
5000 | usd | |
CY2021 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
0 | usd |
CY2022 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">ARTELO BIOSCIENCES, INC. (“we”, “us”, “our”, the “Company”) is a Nevada corporation incorporated on May 2, 2011, and based in San Diego County, California. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, and the Company’s fiscal year end is December 31.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company registered fully owned subsidiaries in Ireland, Trinity Reliant Ventures Limited, on November 11, 2016, and in the UK, Trinity Research & Development Limited, on June 2, 2017. On January 8, 2020, Trinity Research and Development Limited changed its name to Artelo Biosciences Limited. The Company incorporated a wholly owned subsidiary in Canada, Artelo Biosciences Corporation, on March 18, 2020. Operations in the subsidiaries have been consolidated in the financial statements.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company is a clinical stage biopharmaceutical company focused on developing and commercializing treatments intended to modulate the endocannabinoid system.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><em>Liquidity</em></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company has incurred losses since inception and incurred a net loss of $10,083 during the year ended December 31, 2022. However, in November 2021, the Company completed an equity offering which generated net proceeds of $18,262. Additionally, in May 2022, the Company entered into a purchase agreement and a registration rights agreement (the “Equity Line”) with an institutional investor, providing for the sale of up to $20,000 worth of the Company’s common stock, over the thirty-six (36) month term of the purchase agreement. Under the terms and subject to the conditions of the purchase agreement, the Company has the right, but not the obligation, to sell to the institutional investor, and the institutional investor is obligated to purchase, up to $20,000 worth of shares of the Company’s Common Stock. As of December 31, 2022, there have been no sales under the Equity Line. The Company’s existing cash resources and the cash received from the November 2021 equity offering are expected to provide sufficient funds to carry out the Company’s planned operations into the second half of 2024. To continue operations beyond such time frame, the Company will be required to raise additional funds by completing additional equity or debt offerings or licensing our product candidates. There can be no assurance that the Company will be successful in acquiring additional funding, that the Company’s projections of its future working capital needs will prove accurate, or that any additional funding would be sufficient to continue operations in future years.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><em>Reverse stock split</em></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On August 8, 2022, the Company, filed with the Secretary of State of the State of Nevada, a Certificate of Change, pursuant to Nevada Revised Statutes 78.209, to effect a one-for-fifteen (1-for-15) reverse stock split (the “Reverse Stock Split”) of the Company’s issued and outstanding Common Stock, par value $0.001 per share. The Reverse Stock Split was effective as of August 10, 2022.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">As a result of the Reverse Stock Split, the number of authorized shares of Common Stock has been reduced from 750,000,000 to 50,000,000, while the number of authorized shares of the Company’s preferred stock has been reduced from 6,250,000 to 416,667.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><em>COVID-19</em></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">As the COVID-19 pandemic is still evolving at this time and much of its impact remains unknown, the Company is not able to predict the impact it may have on the development of its product candidates and business. The severity of the COVID-19 pandemic could also negatively impact the Company’s access to its existing supply chain by delaying the delivery of key raw materials used in its product candidates and therefore delay the delivery of such products for use in its clinical trials. Any of these results could have a material adverse impact to our business.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">All share and per share information in these financial statements retroactively reflect this Reverse Stock Split.</p> | |
CY2022 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
18262000 | usd |
CY2022 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1-for-15 | |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
750000000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2022Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
6250000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
416667 | shares |
CY2022 | us-gaap |
Property Plant And Equipment Depreciation Methods
PropertyPlantAndEquipmentDepreciationMethods
|
straight-line method | |
CY2021Q4 | us-gaap |
Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
|
11951000 | usd |
CY2021Q4 | us-gaap |
Debt Securities Noncurrent
DebtSecuritiesNoncurrent
|
1519000 | usd |
CY2021Q4 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
13470000 | usd |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain expenses during the reporting period. Actual results could differ from these good faith estimates and judgments.</p> | |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6888000 | usd |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
12162000 | usd |
CY2022Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2022Q4 | artl |
Amount In Excess Of Fdic Insurance Amount
AmountInExcessOfFdicInsuranceAmount
|
6388000 | usd |
CY2022Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
9150000 | usd |
CY2021Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
11951000 | usd |
CY2021Q3 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
3436000 | usd |
CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
1495000 | usd |
CY2021Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
1519000 | usd |
CY2021Q3 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
0 | usd |
CY2022Q4 | us-gaap |
Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
|
9150000 | usd |
CY2022Q4 | us-gaap |
Debt Securities Noncurrent
DebtSecuritiesNoncurrent
|
1495000 | usd |
CY2022Q4 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
10645000 | usd |
CY2021Q3 | us-gaap |
Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
|
3436000 | usd |
CY2022 | artl |
Share Based Expenses
ShareBasedExpenses
|
2458000 | usd |
artl |
Share Based Expenses
ShareBasedExpenses
|
934000 | usd | |
CY2021 | artl |
Share Based Expenses
ShareBasedExpenses
|
1531000 | usd |
CY2021 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
486184000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
416667 | shares |
CY2021Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q2 | artl |
Options Exercisable Description
OptionsExercisableDescription
|
Lincoln Park of up to $20,000 worth of the Company’s Common Stock, over the thirty-six (36) month term of the Lincoln Park Agreements. The Company issued to Lincoln Park 19,532 shares of its Common Stock as commitment shares in consideration for entering into the Lincoln Park Agreements and received no funds in exchange for such commitment shares, valued at $97. Upon initiation of the Lincoln Park Agreements, the Company recorded $381 as an expense within general and administrative expenses | |
CY2022 | us-gaap |
Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
|
1184959 | shares |
CY2022Q4 | artl |
Common Stock Average Price Per Share
CommonStockAveragePricePerShare
|
15.90 | |
CY2022 | us-gaap |
Proceeds From Fees Received
ProceedsFromFeesReceived
|
18262 | usd |
CY2022 | artl |
Number Of Purchase Common Stock Shares
NumberOfPurchaseCommonStockShares
|
674667 | integer |
CY2022 | artl |
Number Of Warrant Granted
NumberOfWarrantGranted
|
674667000 | shares |
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
|
25000000 | shares |
CY2018Q3 | artl |
Options Exercisable Description
OptionsExercisableDescription
|
Options may be exercisable (“vest”) immediately or in increments based on time and/or performance criteria as determined by the administrator. The term of any option may not exceed 10 years (five years for any incentive stock option granted to a 10% stockholder), and unless otherwise determined by the administrator, each option must terminate no later than three months after the termination of the optionee’s employment (one year in the event of death or disability). Subject to a few minor exceptions, options may not be transferred other than by will or by the laws of descent and distribution. | |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
20559000 | usd |
CY2022Q4 | artl |
Deferred Tax Asset Operating Loss Carryforwards
DeferredTaxAssetOperatingLossCarryforwards
|
4338000 | usd |
CY2021Q4 | artl |
Deferred Tax Asset Operating Loss Carryforwards
DeferredTaxAssetOperatingLossCarryforwards
|
3343000 | usd |
CY2021Q3 | artl |
Deferred Tax Asset Operating Loss Carryforwards
DeferredTaxAssetOperatingLossCarryforwards
|
3864000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
4338000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
3343000 | usd |
CY2021Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
3864000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2021Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2022Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
2039000 | usd |
CY2022 | us-gaap |
Lessee Operating Lease Description
LesseeOperatingLeaseDescription
|
On April 19, 2022, the Company entered into a lease arrangement for office space with an annual rent of $13 (£11) and the term of the arrangement is from April 2022 through September 2023. | |
CY2021 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5633000 | usd |
CY2021 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3784000 | usd |
CY2021 | us-gaap |
Operating Expenses
OperatingExpenses
|
9417000 | usd |
CY2021 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-9417000 | usd |
CY2021 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
2000 | usd |
CY2021 | us-gaap |
Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
|
8000 | usd |
CY2021 | artl |
Gain Loss From Change In Fair Value Of Derivative Liabilities
GainLossFromChangeInFairValueOfDerivativeLiabilities
|
0 | usd |
CY2021 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
10000 | usd |
CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2021 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
5000 | usd |
CY2021 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-54000 | usd |
CY2021 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-59000 | usd |
CY2021 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-9466000 | usd |
CY2021 | artl |
Earnings Per Share Basics And Diluted
EarningsPerShareBasicsAndDiluted
|
-5.24 | |
CY2021 | artl |
Weighted Average Number Of Share Outstanding Basics And Diluted
WeightedAverageNumberOfShareOutstandingBasicsAndDiluted
|
1795000 | shares |