2023 Q2 Form 10-Q Financial Statement

#000121390023039902 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $940.0K
YoY Change 51.13%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.561M $3.735M $1.735M
YoY Change 41.08% 115.27% 0.99%
% of Gross Profit
Research & Development $11.08M $7.849M $4.369M
YoY Change 137.69% 79.65% 2.17%
% of Gross Profit
Depreciation & Amortization $209.0K $182.0K $137.0K
YoY Change 16.11% 32.85% 9.6%
% of Gross Profit
Operating Expenses $15.64M $11.58M $6.104M
YoY Change 98.13% 89.78% 1.84%
Operating Profit -$15.64M -$11.58M -$5.164M
YoY Change 99.26% 124.32%
Interest Expense $461.0K $547.0K $35.00K
YoY Change 455.42% 1462.86% -32.69%
% of Operating Profit
Other Income/Expense, Net $461.0K $547.0K $35.00K
YoY Change 455.42% 1462.86%
Pretax Income -$15.18M -$11.04M -$5.129M
YoY Change 95.46% 115.19% -3.59%
Income Tax
% Of Pretax Income
Net Earnings -$15.18M -$11.04M -$5.129M
YoY Change 95.46% 115.19% -3.59%
Net Earnings / Revenue -545.64%
Basic Earnings Per Share -$0.58 -$0.43 -$0.23
Diluted Earnings Per Share -$0.58 -$0.43 -$231.6K
COMMON SHARES
Basic Shares Outstanding 26.41M shares 25.73M shares 22.14M shares
Diluted Shares Outstanding 26.22M shares 25.70M shares 22.14M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $91.28M $94.52M $72.02M
YoY Change -21.54% 31.25% -0.32%
Cash & Equivalents $91.28M $94.52M $72.02M
Short-Term Investments
Other Short-Term Assets $4.261M $4.024M $2.034M
YoY Change 116.62% 97.84% 36.14%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $95.54M $98.55M $74.05M
YoY Change -19.24% 33.07% 0.41%
LONG-TERM ASSETS
Property, Plant & Equipment $624.0K $630.0K $509.0K
YoY Change 12.03% 23.77% -43.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $307.0K $304.0K
YoY Change 2.68%
Total Long-Term Assets $3.514M $3.480M $509.0K
YoY Change 0.31% 583.69% -62.3%
TOTAL ASSETS
Total Short-Term Assets $95.54M $98.55M $74.05M
Total Long-Term Assets $3.514M $3.480M $509.0K
Total Assets $99.05M $102.0M $74.56M
YoY Change -18.68% 36.83% -0.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.637M $7.358M $5.261M
YoY Change 49.77% 39.86% 41.16%
Accrued Expenses $512.0K $503.0K $154.0K
YoY Change 75.34% 226.62% -55.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000K $3.000K $41.00K
YoY Change -89.47% -92.68% -53.41%
Total Short-Term Liabilities $9.151M $7.864M $5.723M
YoY Change 45.67% 37.41% 37.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $2.000K
YoY Change -100.0% -100.0% -95.35%
Other Long-Term Liabilities $36.82M $36.95M
YoY Change -1.37%
Total Long-Term Liabilities $36.82M $36.95M $2.000K
YoY Change -1.38% 1847600.0% -98.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.151M $7.864M $5.723M
Total Long-Term Liabilities $36.82M $36.95M $2.000K
Total Liabilities $45.97M $44.82M $5.725M
YoY Change 5.4% 682.85% 31.28%
SHAREHOLDERS EQUITY
Retained Earnings -$315.0M -$299.8M
YoY Change 17.25%
Common Stock $27.00K $26.00K
YoY Change 8.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $53.08M $57.21M $68.84M
YoY Change
Total Liabilities & Shareholders Equity $99.05M $102.0M $74.56M
YoY Change -18.68% 36.83% -0.71%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$15.18M -$11.04M -$5.129M
YoY Change 95.46% 115.19% -3.59%
Depreciation, Depletion And Amortization $209.0K $182.0K $137.0K
YoY Change 16.11% 32.85% 9.6%
Cash From Operating Activities -$13.64M -$15.08M -$5.781M
YoY Change -148.87% 160.8% 2.46%
INVESTING ACTIVITIES
Capital Expenditures $47.00K $76.00K -$7.000K
YoY Change -117.41% -1185.71% 75.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$47.00K -$76.00K -$7.000K
YoY Change -82.59% 985.71% 75.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.05M $770.0K -22.00K
YoY Change -39.7% -3600.0% -100.15%
NET CHANGE
Cash From Operating Activities -13.64M -$15.08M -5.781M
Cash From Investing Activities -47.00K -$76.00K -7.000K
Cash From Financing Activities 10.05M $770.0K -22.00K
Net Change In Cash -3.642M -$14.38M -5.810M
YoY Change -108.22% 147.56% -166.83%
FREE CASH FLOW
Cash From Operating Activities -$13.64M -$15.08M -$5.781M
Capital Expenditures $47.00K $76.00K -$7.000K
Free Cash Flow -$13.69M -$15.15M -$5.774M
YoY Change -148.57% 162.44% 2.41%

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Use of Estimates </b>- The preparation of these unaudited interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>  </b></p>
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OperatingLeasePayments
150000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
94000 usd
CY2023Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1000 usd
CY2022Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1000 usd
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
22000 usd
CY2023Q1 atnm Schedule Or Description Of Weighted Average Term
ScheduleOrDescriptionOfWeightedAverageTerm
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; "> <td>Weighted average remaining lease term:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Operating leases</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3 years</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Finance Leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.8 year</span></td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M18D
CY2023Q1 atnm Schedule Of Weighted Average Discount Rate
ScheduleOfWeightedAverageDiscountRate
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; "> <td>Weighted average discount rates:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Operating leases</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4.8</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Finance Leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8</td><td style="text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"> </p>
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048 pure
CY2023Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.08 pure
CY2022Q1 atnm Revenue Recognized
RevenueRecognized
800000 usd
CY2022Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
100000 usd
CY2022Q2 atnm Upfront Payment
UpfrontPayment
35000000 usd
CY2023Q1 atnm Longterm License Revenue Deferred
LongtermLicenseRevenueDeferred
35000000 usd
CY2022Q4 atnm Longterm License Revenue Deferred
LongtermLicenseRevenueDeferred
35000000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3396000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y10M6D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
15204000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
11000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
10.89
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
1000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
82000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.76
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3324000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.07
CY2023Q1 atnm Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Terms
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms
P8Y6M
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
11114000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
975000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.66
CY2023Q1 atnm Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term Granted
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTermGranted
P7Y2M15D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2304000 usd
CY2023Q1 atnm Rs Us Outstanding Beginning Balance
RSUsOutstandingBeginningBalance
325 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.96
CY2023Q1 atnm Rs Us Outstanding Ending Balance
RSUsOutstandingEndingBalance
325 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.96
CY2023Q1 atnm Shares Of Common Stock Value
SharesOfCommonStockValue
600000 shares
CY2023Q1 atnm Net Proceeds
NetProceeds
5600000 usd
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
Actinium Pharmaceuticals, Inc.
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
usd
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22143974 shares
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
usd
CY2022Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
usd
CY2022Q1 atnm Sales Of Shares Of Common Stock Net Of Costs
SalesOfSharesOfCommonStockNetOfCosts
usd
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001388320

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atnm-20230331_lab.xml Edgar Link unprocessable
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