$AYTU
AYTU BIOPHARMA, INC

2015 Q3 Form 10-K Financial Statement

#000119312515333046 Filed on September 28, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 2014 Q2
Revenue $487.4K $261.8K $0.00
YoY Change 1666.98% 344.23%
Cost Of Revenue $37.33K $88.11K
YoY Change 16488.89%
Gross Profit $450.1K $173.7K
YoY Change 1545.08%
Gross Profit Margin 92.34% 66.34%
Selling, General & Admin $1.563M $3.981M $10.00K
YoY Change 38.18% 6534.96% 0.0%
% of Gross Profit 347.33% 2292.22%
Research & Development $855.9K $3.219M
YoY Change -8.34% -18.16%
% of Gross Profit 190.17% 1853.69%
Depreciation & Amortization $129.0K $118.2K $0.00
YoY Change 424.97% 21.26%
% of Gross Profit 28.67% 68.06%
Operating Expenses $2.650M $7.200M $10.00K
YoY Change 28.35% 83.05% 0.0%
Operating Profit -$2.163M -$7.632M
YoY Change 3.41% 20.25%
Interest Expense $113.3K $115.0K $0.00
YoY Change 203.61%
% of Operating Profit
Other Income/Expense, Net -$113.1K -$115.0K $0.00
YoY Change 203.27%
Pretax Income -$2.276M -$7.747M -$10.00K
YoY Change 6.91% 21.2% 0.0%
Income Tax $0.00 -$23.91K $0.00
% Of Pretax Income
Net Earnings -$2.276M -$7.723M -$10.00K
YoY Change 8.13% 38.44% 0.0%
Net Earnings / Revenue -467.02% -2950.32%
Basic Earnings Per Share
Diluted Earnings Per Share -$7.662B -$40.26B -$1.350B
COMMON SHARES
Basic Shares Outstanding 14.26M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.10M $7.400M $0.00
YoY Change
Cash & Equivalents $10.07M $7.400M $2.640M
Short-Term Investments
Other Short-Term Assets $600.0K $500.0K $0.00
YoY Change
Inventory $494.1K $0.00
Prepaid Expenses $360.5K $521.3K
Receivables $167.9K $200.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $11.31M $8.000M $3.302M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $26.37K $0.00 $57.25K
YoY Change
Goodwill $74.00K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $300.0K $300.0K $0.00
YoY Change
Total Long-Term Assets $10.05M $10.20M $8.714M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $11.31M $8.000M $3.302M
Total Long-Term Assets $10.05M $10.20M $8.714M
Total Assets $21.36M $18.20M $12.02M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.100M $1.200M $649.5K
YoY Change
Accrued Expenses $600.0K $200.0K $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.778M $1.500M $6.092M
YoY Change 1677.89% 1400.0% 5992.28%
LONG-TERM LIABILITIES
Long-Term Debt $4.800M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.300M $1.100M
YoY Change
Total Long-Term Liabilities $6.100M $1.100M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.778M $1.500M $6.092M
Total Long-Term Liabilities $6.100M $1.100M $0.00
Total Liabilities $7.951M $2.600M $6.647M
YoY Change 7850.85% 2500.0% 6546.69%
SHAREHOLDERS EQUITY
Retained Earnings -$20.66M -$10.66M
YoY Change
Common Stock $39.07M $16.03M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.41M $15.60M $5.369M
YoY Change
Total Liabilities & Shareholders Equity $21.36M $18.20M $12.02M
YoY Change

Cashflow Statement

Concept 2015 Q3 2015 2014 Q2
OPERATING ACTIVITIES
Net Income -$2.276M -$7.723M -$10.00K
YoY Change 8.13% 38.44% 0.0%
Depreciation, Depletion And Amortization $129.0K $118.2K $0.00
YoY Change 424.97% 21.26%
Cash From Operating Activities -$2.160M -$6.630M -$10.00K
YoY Change 21500.0% 16475.0% 0.0%
INVESTING ACTIVITIES
Capital Expenditures $3.554K $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$1.000M
YoY Change
Cash From Investing Activities $0.00 -$1.000M $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.880M 12.35M 30.00K
YoY Change 30775.0% 200.0%
NET CHANGE
Cash From Operating Activities -2.160M -6.630M -10.00K
Cash From Investing Activities 0.000 -1.000M 0.000
Cash From Financing Activities 4.880M 12.35M 30.00K
Net Change In Cash 2.720M 4.720M 20.00K
YoY Change -27300.0%
FREE CASH FLOW
Cash From Operating Activities -$2.160M -$6.630M -$10.00K
Capital Expenditures $3.554K $0.00 $0.00
Free Cash Flow -$2.164M -$6.630M -$10.00K
YoY Change 21535.54% 13348.82% 0.0%

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NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-6634214
CY2015 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015 us-gaap Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
0.815 pure
CY2015 dei Amendment Flag
AmendmentFlag
false
CY2015 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.84
CY2015 dei Document Type
DocumentType
10-K
CY2015 dei Entity Central Index Key
EntityCentralIndexKey
0001385818
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0003 pure
CY2015 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.3400 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.0551 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.3095 pure
CY2015 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On June 8, 2015, in connection with the reincorporation as a Delaware corporation, we effected a reverse stock split in which each common stock holder received one share of common stock for each every 12.174 shares then outstanding (the "Reverse Stock Split").
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0279 pure
CY2015 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2015 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015 us-gaap Lessee Leasing Arrangements Operating Leases Term Of Contract
LesseeLeasingArrangementsOperatingLeasesTermOfContract
P37M
CY2015 dei Entity Registrant Name
EntityRegistrantName
AYTU BIOSCIENCE, INC.
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2015 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P10Y
CY2015 dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of financial statements in accordance with Generally Accepted Accounting Principles in the United States of America (&#x201C;GAAP&#x201D;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include valuation allowances, stock-based compensation, warrant valuation, purchase price allocation, valuation of contingent consideration, sales returns and allowances, useful lives of fixed assets and assumptions in evaluating impairment of definite and indefinite lived assets. Actual results could differ from these estimates.</p> </div>
CY2015 dei Trading Symbol
TradingSymbol
RSWN
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9207917 shares
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0030 pure
CY2015 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
27476
CY2015 us-gaap Net Income Loss
NetIncomeLoss
-7723404
CY2015 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-8311155
CY2015 us-gaap Revenues
Revenues
261782
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1017938
CY2015 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-114994
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
-7632320
CY2015 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
39442
CY2015 us-gaap Licenses Revenue
LicensesRevenue
85714
CY2015 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
1000000
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
157058
CY2015 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
664000
CY2015 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-150434
CY2015 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
20013
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7747314
CY2015 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1371106
CY2015 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-8335065
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-23910
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
1017938
CY2015 us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
5000000
CY2015 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-85714
CY2015 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
7400000
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
112000
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
51000
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
4713411
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1004886
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
12352511
CY2015 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3219361
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-23910
CY2015 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1018000
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4382640
CY2015 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
4600000
CY2015 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-46002
CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
71000
CY2015 rswn Business Acquisitions Pro Forma Cost Of Revenue
BusinessAcquisitionsProFormaCostOfRevenue
1818690
CY2015 rswn Business Acquisitions Pro Forma Amortization And Impairment Of Intangible Assets
BusinessAcquisitionsProFormaAmortizationAndImpairmentOfIntangibleAssets
131989
CY2015 rswn Business Acquisitions Proforma General And Administrative Expenses
BusinessAcquisitionsProformaGeneralAndAdministrativeExpenses
4417884
CY2015 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
547314
CY2015 us-gaap Depreciation
Depreciation
27000
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
118202
CY2015 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
264000
CY2015 us-gaap Cost Of Revenue
CostOfRevenue
88109
CY2015 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2015 rswn Research And Development Related Party
ResearchAndDevelopmentRelatedParty
203992
CY2015 rswn Increase Decrease In Accrued Compensation
IncreaseDecreaseInAccruedCompensation
196503
CY2015 rswn Business Acquisitions Pro Forma Interest Income Expense Net
BusinessAcquisitionsProFormaInterestIncomeExpenseNet
-114994
CY2015 rswn Increase Decrease Accounts Payable Related Party Current
IncreaseDecreaseAccountsPayableRelatedPartyCurrent
-561059
CY2015 rswn Business Acquisitions Pro Forma Operating Income Loss
BusinessAcquisitionsProFormaOperatingIncomeLoss
-8220071
CY2015 rswn Noncash Or Part Noncash Capital Contribution From Parent
NoncashOrPartNoncashCapitalContributionFromParent
5000000
CY2015 rswn Products And Services Revenue
ProductsAndServicesRevenue
176068
CY2015 rswn Stock Subscription
StockSubscription
5000000
CY2015 rswn Business Acquisitions Pro Forma Income Tax Expense Benefit
BusinessAcquisitionsProFormaIncomeTaxExpenseBenefit
-23910
CY2015 rswn Amortization Of Prepaid Research And Development Due To Related Parties
AmortizationOfPrepaidResearchAndDevelopmentDueToRelatedParties
121984
CY2015 rswn Increase Decrease In Prepaid Research And Development Due To Related Parties
IncreaseDecreaseInPrepaidResearchAndDevelopmentDueToRelatedParties
-150000
CY2015 rswn Class Of Warrant Or Rights Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightsWeightedAverageRemainingContractualTerm
P2Y11M1D
CY2015 rswn Adjustments To Additional In Capital Business Combination Liabilities Paid
AdjustmentsToAdditionalInCapitalBusinessCombinationLiabilitiesPaid
20013
CY2015 rswn Business Acquisitions Pro Forma Research And Development Expense
BusinessAcquisitionsProFormaResearchAndDevelopmentExpense
3065626
CY2015 rswn Business Acquisitions Pro Forma Research And Development Related Party
BusinessAcquisitionsProFormaResearchAndDevelopmentRelatedParty
156988
CY2015 rswn Payments For Deposits Investing Activities
PaymentsForDepositsInvestingActivities
4886

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