2017 Q1 Form 10-Q Financial Statement

#000114420417007057 Filed on February 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2016 Q2
Revenue $893.5K $794.2K $940.0K
YoY Change 33.66% 69.26% 422.22%
Cost Of Revenue $324.4K $551.3K $330.0K
YoY Change -4.8% 125.85% 266.67%
Gross Profit $569.1K $242.9K $600.0K
YoY Change 73.64% 7.89% 566.67%
Gross Profit Margin 63.69% 30.58% 63.83%
Selling, General & Admin $4.385M $3.642M $3.150M
YoY Change 102.53% 115.81% 125.0%
% of Gross Profit 770.53% 1499.65% 525.0%
Research & Development $279.0K $263.5K $2.870M
YoY Change -75.6% -79.87% 237.65%
% of Gross Profit 49.03% 108.47% 478.33%
Depreciation & Amortization $27.00K $26.00K $440.0K
YoY Change 50.0% 116.67% 780.0%
% of Gross Profit 4.74% 10.7% 73.33%
Operating Expenses $5.753M $4.993M $6.410M
YoY Change 47.68% 43.34% 186.16%
Operating Profit -$4.860M -$4.199M -$5.810M
YoY Change 50.58% 39.31% 170.23%
Interest Expense $80.72K $388.1K -$2.000M
YoY Change -98.02% 61.56%
% of Operating Profit
Other Income/Expense, Net -$356.5K -$618.5K
YoY Change -91.19% 94.26%
Pretax Income -$5.220M -$4.820M -$15.30M
YoY Change -28.24% 44.64% 608.33%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$5.216M -$4.817M -$15.30M
YoY Change -28.29% 44.56% 608.33%
Net Earnings / Revenue -583.78% -606.57% -1627.66%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.908B -$2.454B -$20.25B
COMMON SHARES
Basic Shares Outstanding 10.85M shares 10.85M shares 44.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q4 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.500M $6.500M $9.100M
YoY Change -59.77% -40.91% 22.97%
Cash & Equivalents $3.470M $5.200M $8.054M
Short-Term Investments $0.00 $1.300M $1.000M
Other Short-Term Assets $400.0K $700.0K $300.0K
YoY Change -63.64% -22.22% -40.0%
Inventory $200.0K $439.0K $524.7K
Prepaid Expenses
Receivables $300.0K $582.4K $162.4K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.400M $8.158M $10.12M
YoY Change -57.84% -36.27% 25.84%
LONG-TERM ASSETS
Property, Plant & Equipment $300.0K $292.2K $231.4K
YoY Change 52.37% 192.17% 679.07%
Goodwill $221.0K $221.0K
YoY Change 198.65%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.561M $200.0K $10.55M
YoY Change 4680.38% -33.33%
Total Long-Term Assets $11.48M $13.35M $14.22M
YoY Change -0.61% 15.07% 40.22%
TOTAL ASSETS
Total Short-Term Assets $4.400M $8.158M $10.12M
Total Long-Term Assets $11.48M $13.35M $14.22M
Total Assets $15.90M $21.51M $24.34M
YoY Change -27.68% -11.86% 33.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.409M $2.400M $2.323M
YoY Change 17.41% 118.18% 93.55%
Accrued Expenses $1.051M $500.0K $1.197M
YoY Change 31.35% 0.0% 498.55%
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 $3.354M $7.000M $10.10M
YoY Change 4.65% 150.0% 583.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $4.000M $4.100M $4.200M
YoY Change 233.33% 192.86% 281.82%
Total Long-Term Liabilities $4.000M $4.100M $4.200M
YoY Change 233.33% -34.92% 281.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.354M $7.000M $10.10M
Total Long-Term Liabilities $4.000M $4.100M $4.200M
Total Liabilities $7.395M $11.10M $14.26M
YoY Change 67.32% 20.65% 455.01%
SHAREHOLDERS EQUITY
Retained Earnings -$62.32M -$46.56M
YoY Change 99.33% 153.31%
Common Stock $70.84M $56.65M
YoY Change 45.08% 45.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.521M $10.40M $10.09M
YoY Change
Total Liabilities & Shareholders Equity $15.92M $21.50M $24.34M
YoY Change -27.6% -11.89% 33.86%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2016 Q2
OPERATING ACTIVITIES
Net Income -$5.216M -$4.817M -$15.30M
YoY Change -28.29% 44.56% 608.33%
Depreciation, Depletion And Amortization $27.00K $26.00K $440.0K
YoY Change 50.0% 116.67% 780.0%
Cash From Operating Activities -$2.390M -$2.840M -$2.670M
YoY Change 0.42% -17.68% 50.0%
INVESTING ACTIVITIES
Capital Expenditures $1.990M -$2.040M -$1.090M
YoY Change -2942.86% 1469.23%
Acquisitions
YoY Change
Other Investing Activities -$3.270M -$250.0K -$3.470M
YoY Change -53.7% 247.0%
Cash From Investing Activities -$1.280M -$2.290M -$4.560M
YoY Change 1500.0% 246.97% 356.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.920M 7.600M 6.610M
YoY Change 1029.41% 52.0% -23.58%
NET CHANGE
Cash From Operating Activities -2.390M -2.840M -2.670M
Cash From Investing Activities -1.280M -2.290M -4.560M
Cash From Financing Activities 1.920M 7.600M 6.610M
Net Change In Cash -1.750M 2.470M -620.0K
YoY Change -23.58% 177.53% -110.56%
FREE CASH FLOW
Cash From Operating Activities -$2.390M -$2.840M -$2.670M
Capital Expenditures $1.990M -$2.040M -$1.090M
Free Cash Flow -$4.380M -$800.0K -$1.580M
YoY Change 89.61% -75.9% -11.24%

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OperatingIncomeLoss
-10165195 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-5177063 USD
us-gaap Interest Expense
InterestExpense
803465 USD
us-gaap Interest Expense
InterestExpense
353467 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-78038 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
230936 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-376381 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-431505 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5910910 shares
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.78
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.72
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-4817186 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-3332380 USD
us-gaap Net Income Loss
NetIncomeLoss
-5608568 USD
aytu Adjustments To Additional Paid In Capital Warrants Issued In Connection With Equity Financing
AdjustmentsToAdditionalPaidInCapitalWarrantsIssuedInConnectionWithEquityFinancing
3470646 USD
aytu Adjustments To Additional Paid In Capital Warrants Issued In Connection With Equity Financing To Placement Agents For Over Allotment Option
AdjustmentsToAdditionalPaidInCapitalWarrantsIssuedInConnectionWithEquityFinancingToPlacementAgentsForOverAllotmentOption
172629 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
250887 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
242427 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
0 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
0 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
147805 USD
aytu Amortization Of Prepaid Research And Development Due To Related Parties
AmortizationOfPrepaidResearchAndDevelopmentDueToRelatedParties
60991 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
131408 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-85741 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
613673 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
370656 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-126781 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
0 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
38451 USD
aytu Increase Decrease In Accrued Compensation
IncreaseDecreaseInAccruedCompensation
296081 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
161988 USD
us-gaap Increase Decrease In Prepaid Rent
IncreaseDecreaseInPrepaidRent
-10245 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-42857 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-5607030 USD
aytu Payments For Deposits Investing Activities
PaymentsForDepositsInvestingActivities
0 USD
aytu Payments For Deposits Investing Activities
PaymentsForDepositsInvestingActivities
-1998 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
125161 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
540000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-663163 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
2000000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
5175000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
298322 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
9876678 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3606485 USD
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7353061 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10959546 USD
aytu Warrant Derivative Liability Related To Issuance Of Convertible Promissory Notes
WarrantDerivativeLiabilityRelatedToIssuanceOfConvertiblePromissoryNotes
102931 USD
aytu Primsol Business Purchase Included In Primsol Payable
PrimsolBusinessPurchaseIncludedInPrimsolPayable
1077000 USD
us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
0 USD
us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
5000000 USD
aytu Primsol Business Purchase Included In Primsol Payable Gross
PrimsolBusinessPurchaseIncludedInPrimsolPayableGross
1250000 USD
aytu Primsol Business Purchase Included In Primsol Payable Gross
PrimsolBusinessPurchaseIncludedInPrimsolPayableGross
1250000 USD
us-gaap Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
StandardizedMeasureOfDiscountedFutureNetCashFlowRelatingToProvedOilAndGasReservesAccretionOfDiscount
173000 USD
us-gaap Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
StandardizedMeasureOfDiscountedFutureNetCashFlowRelatingToProvedOilAndGasReservesAccretionOfDiscount
173000 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
997865 USD
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y3M29D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y2M16D
aytu Share Based Compensation Share Warrants Issued On Registered Offering
ShareBasedCompensationShareWarrantsIssuedOnRegisteredOffering
6020245 shares
aytu Share Based Compensation Share Warrants Issued On Placement Agents For Registered Offering
ShareBasedCompensationShareWarrantsIssuedOnPlacementAgentsForRegisteredOffering
401450 shares
aytu Share Based Compensation Share Warrants Issued On Registered Offeringweighted Average Exercise Price
ShareBasedCompensationShareWarrantsIssuedOnRegisteredOfferingweightedAverageExercisePrice
1.86
CY2016Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
173000 USD
us-gaap Debt Instrument Convertible Terms Of Conversion Feature
DebtInstrumentConvertibleTermsOfConversionFeature
At the insistence of the underwriters of the offering, all outstanding noteholders had signed lockup agreements which granted them an extra 10% on the conversion, increasing it to 130% of shares calculated by dividing such Note balance by $4.80
CY2016Q2 aytu Warrants Exercisable Term
WarrantsExercisableTerm
P5Y
aytu Share Based Compensation Share Warrants Issued On Placement Agents For Registered Offeringweighted Average Exercise Price
ShareBasedCompensationShareWarrantsIssuedOnPlacementAgentsForRegisteredOfferingweightedAverageExercisePrice
1.86
CY2016 aytu Class Of Warrant Or Rights Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightsWeightedAverageRemainingContractualTerm
P4Y8M16D
aytu Class Of Warrant Or Rights Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightsWeightedAverageRemainingContractualTerm
P4Y6M4D
CY2016Q4 us-gaap Contractual Obligation
ContractualObligation
8596000 USD
CY2016Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
4750000 USD
CY2016Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
743000 USD
CY2016Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
603000 USD
CY2016Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
2500000 USD
CY2016Q4 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
0 USD
CY2016Q4 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
0 USD
CY2016Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
35000 USD
CY2015Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
34000 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
70000 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
51000 USD
CY2016Q2 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
1041000 USD
us-gaap Depreciation
Depreciation
45000 USD
us-gaap Depreciation
Depreciation
19000 USD
CY2016Q4 us-gaap Investment Owned Unrecognized Unrealized Appreciation
InvestmentOwnedUnrecognizedUnrealizedAppreciation
231000 USD
CY2016Q4 us-gaap Investment Owned Unrecognized Unrealized Depreciation
InvestmentOwnedUnrecognizedUnrealizedDepreciation
0 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1492000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
914000 USD
us-gaap License And Maintenance Revenue
LicenseAndMaintenanceRevenue
0 USD
us-gaap License And Maintenance Revenue
LicenseAndMaintenanceRevenue
43000 USD
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On June 8, 2015, we reincorporated as a domestic Delaware corporation under Delaware General Corporate Law and changed our name from Rosewind Corporation to Aytu BioScience, Inc., and effected a reverse stock split in which each common stockholder received one share of common stock for every 12.174 shares outstanding. On June 30, 2016, Aytu effected another reverse stock split in which each common stockholder received one share of common stock for every 12 shares outstanding (herein referred to collectively as the Reverse Stock Splits). All share and per share amounts in this report have been adjusted to reflect the effect of these Reverse Stock Splits.
CY2016Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1041000 USD
aytu Payments For Registered Offering Costs
PaymentsForRegisteredOfferingCosts
997865 USD
aytu Payments For Registered Offering Costs
PaymentsForRegisteredOfferingCosts
0 USD
aytu Warrant Derivative Liability Related To Issuance Of Convertible Promissory Notes
WarrantDerivativeLiabilityRelatedToIssuanceOfConvertiblePromissoryNotes
USD
aytu Primsol Business Purchase Included In Primsol Payable
PrimsolBusinessPurchaseIncludedInPrimsolPayable
USD
aytu Stock And Issued During Period Value
StockAndIssuedDuringPeriodValue
3671581 USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
596434 USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
0 USD
aytu Issuance Of Common Stock To Executives
IssuanceOfCommonStockToExecutives
509996 USD
aytu Issuance Of Common Stock To Executives
IssuanceOfCommonStockToExecutives
0 USD
aytu Fixed Assets Included In Accounts Payable
FixedAssetsIncludedInAccountsPayable
7708 USD
aytu Adjustments To Additional Paid In Capital Warrants Issued In Connection With Equity Financing To Placement Agents Noncash Issuance Costs
AdjustmentsToAdditionalPaidInCapitalWarrantsIssuedInConnectionWithEquityFinancingToPlacementAgentsNoncashIssuanceCosts
292630 USD
aytu Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
8602500 USD
aytu Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
0 USD
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
2852 USD
aytu Warrants Issued In Connection With Equity Financing To Placement Agents
WarrantsIssuedInConnectionWithEquityFinancingToPlacementAgents
292630 USD
aytu Warrants Issued In Connection With Equity Financing To Placement Agents
WarrantsIssuedInConnectionWithEquityFinancingToPlacementAgents
0 USD
CY2016Q4 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
3000 USD
CY2016Q4 aytu Number Of Units Sold
NumberOfUnitsSold
5735000 shares
CY2016Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.86
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.77
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.73
CY2016Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.50

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