$ATOS
ATOSSA THERAPEUTICS, INC.

2020 Q1 Form 10-K Financial Statement

#000143774920006155 Filed on March 26, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2018 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.000M $1.720M $1.260M
YoY Change -23.37% 36.51% -5.26%
% of Gross Profit
Research & Development $938.6K $900.0K $850.0K
YoY Change -35.32% 5.88% 286.36%
% of Gross Profit
Depreciation & Amortization $12.33K $10.00K $10.00K
YoY Change -11.85% 0.0% -66.67%
% of Gross Profit
Operating Expenses $2.937M $2.620M $2.110M
YoY Change -27.74% 24.17% 36.13%
Operating Profit -$2.937M
YoY Change -27.74%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$10.41K $0.00 $30.00K
YoY Change 15.96% -100.0% 50.0%
Pretax Income -$2.947M -$2.620M -$2.080M
YoY Change -27.64% 25.96% 4.52%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.947M -$2.620M -$2.080M
YoY Change -27.64% 25.96% 4.52%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$323.1K -$286.7K -$365.6K
COMMON SHARES
Basic Shares Outstanding 9.131M 9.131M 5.647M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.400M $12.60M $10.40M
YoY Change -52.04% 21.15% 44.44%
Cash & Equivalents $9.351M $12.58M $10.38M
Short-Term Investments
Other Short-Term Assets $134.5K $26.13K $30.94K
YoY Change 381.16% -15.55% 89.32%
Inventory
Prepaid Expenses $1.337M $862.3K $509.8K
Receivables
Other Receivables
Total Short-Term Assets $11.67M $14.32M $11.55M
YoY Change -43.85% 23.98% 46.23%
LONG-TERM ASSETS
Property, Plant & Equipment $29.73K $34.35K $54.49K
YoY Change -38.33% -36.96% 375.16%
Goodwill
YoY Change
Intangibles $173.5K $192.0K
YoY Change -9.64% -17.95%
Long-Term Investments
YoY Change
Other Assets $17.22K $17.22K $17.22K
YoY Change 0.0% 0.0% -90.38%
Total Long-Term Assets $145.2K $170.6K $171.1K
YoY Change -40.79% -0.29% -35.7%
TOTAL ASSETS
Total Short-Term Assets $11.67M $14.32M $11.55M
Total Long-Term Assets $145.2K $170.6K $171.1K
Total Assets $11.81M $14.49M $11.72M
YoY Change -43.82% 23.63% 43.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $356.3K $293.2K $353.3K
YoY Change -23.22% -17.03% 5.5%
Accrued Expenses $52.47K $77.89K $177.1K
YoY Change -29.89% -56.01% 96.52%
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 $908.0K $1.323M $2.915M
YoY Change -39.11% -54.63% 137.92%
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 $908.0K $1.323M $2.915M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $916.0K $1.334M $2.915M
YoY Change -40.08% -54.25% 142.95%
SHAREHOLDERS EQUITY
Retained Earnings -$97.02M -$94.07M -$76.83M
YoY Change 19.92% 22.44% 17.43%
Common Stock $107.2M $106.6M $83.26M
YoY Change 7.57% 27.98% 15.05%
Preferred Stock $671.0K $671.0K $2.379M
YoY Change -4.42% -71.79%
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.90M $13.16M $8.805M
YoY Change
Total Liabilities & Shareholders Equity $11.81M $14.49M $11.72M
YoY Change -43.82% 23.63% 43.56%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income -$2.947M -$2.620M -$2.080M
YoY Change -27.64% 25.96% 4.52%
Depreciation, Depletion And Amortization $12.33K $10.00K $10.00K
YoY Change -11.85% 0.0% -66.67%
Cash From Operating Activities -$3.230M -$2.710M -$2.440M
YoY Change 50.31% 11.07% 45.24%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$60.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 -$60.00K
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
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -3.230M -2.710M -2.440M
Cash From Investing Activities 0.000 -60.00K
Cash From Financing Activities 0.000 0.000
Net Change In Cash -3.230M -2.710M -2.500M
YoY Change -135.16% 8.4% -155.8%
FREE CASH FLOW
Cash From Operating Activities -$3.230M -$2.710M -$2.440M
Capital Expenditures $0.00 -$60.00K
Free Cash Flow -$2.710M -$2.380M
YoY Change 13.87%

Facts In Submission

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CY2019 us-gaap Increase Decrease In Accounts Payable
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-60157
CY2018 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2019 us-gaap Increase Decrease In Accrued Liabilities
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CY2018 us-gaap Increase Decrease In Accrued Liabilities
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CY2019 us-gaap Increase Decrease In Employee Related Liabilities
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CY2018 us-gaap Increase Decrease In Employee Related Liabilities
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CY2019 us-gaap Increase Decrease In Other Current Assets
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CY2018 us-gaap Increase Decrease In Other Current Assets
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CY2019 us-gaap Increase Decrease In Other Current Liabilities
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-27047
CY2018 us-gaap Increase Decrease In Other Current Liabilities
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24405
CY2019 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
352511
CY2018 us-gaap Increase Decrease In Prepaid Expense
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258889
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
174000
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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44200
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6100
CY2019Q4 us-gaap Liabilities
Liabilities
1333850
CY2018Q4 us-gaap Liabilities
Liabilities
2915436
CY2019Q4 us-gaap Liabilities And Stockholders Equity
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14489855
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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CY2019 us-gaap Nature Of Operations
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline;"></div>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 0pt 0pt -9pt; text-align: left; text-indent: 72pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 7.2pt 0pt -2pt; text-align: left; text-indent: 45pt;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 6, 2020, </div>we changed our corporate name from Atossa Genetics Inc. to Atossa Therapeutics, Inc. Atossa Therapeutics, 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 initially 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.&nbsp;</div>The Company is currently focused on development of its pharmaceutical and drug delivery programs for the treatment of breast cancer and other breast conditions.</div></div>
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11336710
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12290551
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7625
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-110906
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9128442
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Net Income Loss
NetIncomeLoss
-17239777
CY2018 us-gaap Net Income Loss
NetIncomeLoss
-11404934
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-17239777
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
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-22884242
CY2019 us-gaap Operating Expenses
OperatingExpenses
17265425
CY2018 us-gaap Operating Expenses
OperatingExpenses
11434233
CY2019 us-gaap Operating Income Loss
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-17265425
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
-11434233
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
56200
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
101000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
39371
CY2018Q4 us-gaap Operating Lease Liability Current
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CY2019Q4 us-gaap Operating Lease Liability Noncurrent
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11108
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
58800
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
101000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
50479
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
31500
CY2019Q4 us-gaap Other Assets Current
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26130
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
30942
CY2019Q4 us-gaap Other Assets Noncurrent
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17218
CY2018Q4 us-gaap Other Assets Noncurrent
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17218
CY2019Q4 us-gaap Other Liabilities Current
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12892
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
39939
CY2019 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
25648
CY2018 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
29299
CY2019Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
4792
CY2018Q4 us-gaap Other Prepaid Expense Current
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4355
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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7625
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
110906
CY2019Q4 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
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
671
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
2379
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
671
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
2379
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
1
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
2
CY2019Q4 us-gaap Prepaid Expense Current
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862344
CY2018Q4 us-gaap Prepaid Expense Current
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509833
CY2019Q4 us-gaap Prepaid Insurance
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222476
CY2018Q4 us-gaap Prepaid Insurance
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160576
CY2019Q4 us-gaap Prepaid Rent
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4275
CY2018Q4 us-gaap Prepaid Rent
PrepaidRent
CY2019 us-gaap Proceeds From Issuance Of Preferred Stock Preference Stock And Warrants
ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants
CY2018 us-gaap Proceeds From Issuance Of Preferred Stock Preference Stock And Warrants
ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants
12290551
CY2019Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
11300000
CY2019 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
11336710
CY2018 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
CY2019Q4 us-gaap Property Plant And Equipment Gross
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185000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
216000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
34350
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
54487
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2019 us-gaap Research And Development Expense
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6645417
CY2018 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4209981
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
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110000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
110000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
110000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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110000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
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-94071040
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-76831263
CY2019 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
7102118
CY2018 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1053496
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
13156005
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
8805010
CY2018 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2019 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
6938687
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2018Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2019 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; text-indent: 36pt; 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; text-align: left; text-indent: 36pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: left; text-indent: 36pt; 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>
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1800000
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
2200000
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8496964
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4157746

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