$ATOS
ATOSSA THERAPEUTICS, INC.

2019 Q4 Form 10-Q Financial Statement

#000143774919022613 Filed on November 13, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.720M $1.610M $1.890M
YoY Change 36.51% -14.81% 44.27%
% of Gross Profit
Research & Development $900.0K $1.684M $1.422M
YoY Change 5.88% 18.45% 91.51%
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0% -66.67%
% of Gross Profit
Operating Expenses $2.620M $3.298M $3.310M
YoY Change 24.17% -0.36% 61.0%
Operating Profit -$3.298M -$3.310M
YoY Change -0.36% 61.0%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $12.28K $104.00
YoY Change -100.0% 11711.54% -136.75%
Pretax Income -$2.620M -$3.286M -$3.310M
YoY Change 25.96% -0.72% 51.52%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.620M -$3.286M -$3.310M
YoY Change 25.96% -0.72% 51.52%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$286.7K -$360.4K -$639.0K
COMMON SHARES
Basic Shares Outstanding 9.131M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.60M $15.30M $12.90M
YoY Change 21.15% 18.6% 377.78%
Cash & Equivalents $12.58M $15.29M $12.94M
Short-Term Investments
Other Short-Term Assets $26.13K $2.064K $161.5K
YoY Change -15.55% -98.72% -46.16%
Inventory
Prepaid Expenses $862.3K $430.0K $290.3K
Receivables
Other Receivables
Total Short-Term Assets $14.32M $16.40M $13.92M
YoY Change 23.98% 17.8% 364.1%
LONG-TERM ASSETS
Property, Plant & Equipment $34.35K $39.14K $57.80K
YoY Change -36.96% -32.28%
Goodwill
YoY Change
Intangibles $173.5K
YoY Change -9.64%
Long-Term Investments
YoY Change
Other Assets $17.22K $17.22K $88.52K
YoY Change 0.0% -80.55% -11.48%
Total Long-Term Assets $170.6K $195.9K $201.4K
YoY Change -0.29% -2.75% -66.43%
TOTAL ASSETS
Total Short-Term Assets $14.32M $16.40M $13.92M
Total Long-Term Assets $170.6K $195.9K $201.4K
Total Assets $14.49M $16.60M $14.12M
YoY Change 23.63% 17.5% 292.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $293.2K $501.4K $550.7K
YoY Change -17.03% -8.95% 37.68%
Accrued Expenses $77.89K $225.5K $51.67K
YoY Change -56.01% 336.34% -92.62%
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 $1.323M $1.564M $3.555M
YoY Change -54.63% -56.0% 223.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.323M $1.564M $3.555M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.334M $1.578M $3.600M
YoY Change -54.25% -56.16% 227.27%
SHAREHOLDERS EQUITY
Retained Earnings -$94.07M -$91.45M -$74.75M
YoY Change 22.44% 22.34%
Common Stock $106.6M $105.8M $81.81M
YoY Change 27.98% 29.33%
Preferred Stock $671.0K $671.0K $3.517M
YoY Change -71.79% -80.92%
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.16M $15.02M $10.57M
YoY Change
Total Liabilities & Shareholders Equity $14.49M $16.60M $14.12M
YoY Change 23.63% 17.5% 292.34%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$2.620M -$3.286M -$3.310M
YoY Change 25.96% -0.72% 51.52%
Depreciation, Depletion And Amortization $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0% -66.67%
Cash From Operating Activities -$2.710M -$1.770M -$2.300M
YoY Change 11.07% -23.04% 35.29%
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 0.000 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -2.710M -1.770M -2.300M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 0.000 0.000
Net Change In Cash -2.710M -1.770M -2.300M
YoY Change 8.4% -23.04% 142.11%
FREE CASH FLOW
Cash From Operating Activities -$2.710M -$1.770M -$2.300M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$2.710M -$1.770M -$2.300M
YoY Change 13.87% -23.04%

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">NOTE <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1:</div> NATURE OF OPERATIONS</div></div> <div style=" margin: 0pt 7.5pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: left; text-indent: 27pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Atossa Genetics Inc. (the &#x201c;Company&#x201d;) was incorporated on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April 30, 2009 </div>in the State of Delaware. The Company was formed to develop and market medical devices, laboratory tests and therapeutics to address breast health conditions. The Company&#x2019;s fiscal year ends on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31. </div>The Company is focused on development of its pharmaceutical and drug delivery programs.</div></div>
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-7625
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-54448
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6420035
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6517985
us-gaap Net Income Loss
NetIncomeLoss
-14621750
us-gaap Net Income Loss
NetIncomeLoss
-9326825
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-3285914
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-4142577
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-4073307
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-7262529
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3285914
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3309866
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14621750
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-20806133
CY2019Q3 us-gaap Operating Expenses
OperatingExpenses
3298198
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-1874382
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
3309970
us-gaap Operating Expenses
OperatingExpenses
14648596
us-gaap Operating Expenses
OperatingExpenses
9327067
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3298198
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3309970
us-gaap Operating Income Loss
OperatingIncomeLoss
-14648596
us-gaap Operating Income Loss
OperatingIncomeLoss
-9327067
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-3309866
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
14700
us-gaap Operating Lease Expense
OperatingLeaseExpense
44100
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
101000
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
49266
CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
14018
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
13900
us-gaap Operating Lease Payments
OperatingLeasePayments
42700
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
63284
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y73D
CY2019Q3 us-gaap Other Assets Current
OtherAssetsCurrent
2064
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
30942
CY2019Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
17218
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
17218
CY2019Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
18415
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
39939
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
12284
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
104
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
26846
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
242
CY2019Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
11079
CY2018Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
4355
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7625
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
54448
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
671
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
2379
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
671
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
2379
CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
1
CY2019Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
11300000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
11336710
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
39142
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
54487
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1684215
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1421851
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5747399
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3360563
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
110000
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
55000
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
110000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
110000
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-91453013
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-76831263
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3565000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
CY2018Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2018Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2019Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2019Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2019Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
6346281
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
726252
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
15018195
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
13566765
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
8805010
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
6938687
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
5259592
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
10569109
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
19496190
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
17552457
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">Use of Estimates:</div></div> <div style=" margin: 0pt 7.5pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: left; text-indent: 27pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">The preparation of financial statements in conformity with GAAP 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 and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</div></div></div></div></div>
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9130057
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5183492
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8283302
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3645682

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