2023 Q1 Form 10-K Financial Statement

#000095017023009184 Filed on March 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.012M $5.897M $23.91M
YoY Change -15.86% -9.33% -16.13%
% of Gross Profit
Research & Development $14.55M $15.98M $69.98M
YoY Change -15.45% 8.39%
% of Gross Profit
Depreciation & Amortization $124.0K $124.0K $498.0K
YoY Change 3.33% 3.33% 6.87%
% of Gross Profit
Operating Expenses $19.56M $21.88M $94.11M
YoY Change -15.56% 2.96%
Operating Profit -$19.56M -$94.11M
YoY Change -15.56% -29.07%
Interest Expense $609.0K $583.0K $1.022M
YoY Change 757.75% 477.23% 238.41%
% of Operating Profit
Other Income/Expense, Net $609.0K $1.022M
YoY Change 757.75% 238.41%
Pretax Income -$18.95M -$22.40M -$93.09M
YoY Change -17.93% -64.33% -29.68%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$18.95M -$22.40M -$93.09M
YoY Change -17.93% -62.83% -28.31%
Net Earnings / Revenue
Basic Earnings Per Share -$0.37 -$1.92
Diluted Earnings Per Share -$0.37 -$0.46 -$1.92
COMMON SHARES
Basic Shares Outstanding 51.95M 48.78M 48.41M
Diluted Shares Outstanding 51.01M 48.41M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $73.02M $91.61M $91.61M
YoY Change -40.64% -37.52% -37.52%
Cash & Equivalents $43.48M $52.42M $52.42M
Short-Term Investments $29.53M $39.19M $39.19M
Other Short-Term Assets $6.011M $4.413M $4.413M
YoY Change -17.12% -39.06% -39.06%
Inventory
Prepaid Expenses
Receivables $717.0K $944.0K $944.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $79.74M $96.97M $96.97M
YoY Change -39.02% -37.12% -37.12%
LONG-TERM ASSETS
Property, Plant & Equipment $619.0K $743.0K $3.938M
YoY Change -90.2% -34.77% -45.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $334.0K $889.0K $889.0K
YoY Change -84.64% -47.8% -47.8%
Total Long-Term Assets $3.372M $4.827M $4.827M
YoY Change -89.45% -86.9% -86.9%
TOTAL ASSETS
Total Short-Term Assets $79.74M $96.97M $96.97M
Total Long-Term Assets $3.372M $4.827M $4.827M
Total Assets $83.12M $101.8M $101.8M
YoY Change -48.92% -46.72% -46.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.224M $2.493M $2.493M
YoY Change -13.01% -6.24% -6.24%
Accrued Expenses $3.154M $7.317M $13.80M
YoY Change 26.21% 6.62% 2.9%
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 $9.970M $16.30M $16.30M
YoY Change -6.9% 1.39% 1.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.813M $2.834M $2.834M
YoY Change -46.21% -53.22% -53.22%
Total Long-Term Liabilities $2.813M $2.834M $2.834M
YoY Change -46.21% -53.22% -53.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.970M $16.30M $16.30M
Total Long-Term Liabilities $2.813M $2.834M $2.834M
Total Liabilities $12.78M $19.13M $19.13M
YoY Change -19.8% -13.56% -13.56%
SHAREHOLDERS EQUITY
Retained Earnings -$743.5M -$724.5M
YoY Change 13.59% 14.74%
Common Stock $814.3M $808.0M
YoY Change 1.51% 0.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $70.33M $82.66M $82.66M
YoY Change
Total Liabilities & Shareholders Equity $83.12M $101.8M $101.8M
YoY Change -48.92% -46.72% -46.72%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$18.95M -$22.40M -$93.09M
YoY Change -17.93% -62.83% -28.31%
Depreciation, Depletion And Amortization $124.0K $124.0K $498.0K
YoY Change 3.33% 3.33% 6.87%
Cash From Operating Activities -$23.43M -$19.25M -$84.46M
YoY Change -14.81% -0.56% -9.56%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $102.0K
YoY Change -100.0% -96.71%
Acquisitions
YoY Change
Other Investing Activities $10.00M $16.56M $90.74M
YoY Change -69.74% -295.63% 206.45%
Cash From Investing Activities $10.00M $16.56M $90.64M
YoY Change -69.74% -295.21% 241.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $325.0K
YoY Change -99.38%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.492M 437.0K 614.0K
YoY Change -83.89% -98.84%
NET CHANGE
Cash From Operating Activities -23.43M -19.25M -84.46M
Cash From Investing Activities 10.00M 16.56M 90.64M
Cash From Financing Activities 4.492M 437.0K 614.0K
Net Change In Cash -8.936M -2.255M 6.791M
YoY Change -67.51% -91.03% -149.15%
FREE CASH FLOW
Cash From Operating Activities -$23.43M -$19.25M -$84.46M
Capital Expenditures $0.00 $0.00 $102.0K
Free Cash Flow -$23.43M -$19.25M -$84.57M
YoY Change -14.81% -0.47% -12.36%

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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 asmb Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Significant estimates inherent in the preparation of the accompanying consolidated financial statements include estimates of costs incurred but not yet invoiced for research and development accruals as well as the estimated fair value of the Company's indefinite-lived intangible asset and the estimated fair value of the Company's reporting unit for purposes of evaluating goodwill impairment, both of which were fully impaired in 2021.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates and assumptions.</span></p>
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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11082000
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
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15004000
CY2022Q4 asmb Deferred Tax Assets Operating Lease Liabilities
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880000
CY2021Q4 asmb Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
1656000
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DeferredTaxAssetsTaxCreditCarryforwardsResearch
13471000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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11106000
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1372000
CY2021Q4 us-gaap Deferred Tax Assets Other
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1125000
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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811000
CY2021Q4 us-gaap Deferred Tax Assets Net
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1545000
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811000
CY2021Q4 asmb Deferred Tax Liabilities Operating Lease Right Of Use Assets
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1545000
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CY2021Q4 us-gaap Deferred Income Tax Liabilities
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1545000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0
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CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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25800000
CY2021Q4 us-gaap Unrecognized Tax Benefits
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3237000
CY2020Q4 us-gaap Unrecognized Tax Benefits
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2655000
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0
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1000
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672000
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663000
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3873000
CY2021Q4 us-gaap Unrecognized Tax Benefits
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3237000
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3500000
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3200000
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3505000
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3840000
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23000
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268000
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1573000
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142000
CY2022 us-gaap Lease Cost
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4948000
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5283000
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171000
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126000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P1Y
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0.098
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3554000
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73000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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37000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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3664000
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199000
CY2022Q4 us-gaap Operating Lease Liability
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3465000
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800000
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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900000

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asmb-20221231.htm Edgar Link pending
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asmb-20221231_cal.xml Edgar Link unprocessable