2018 Q1 Form 10-K Financial Statement

#000114420418014940 Filed on March 15, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2016 Q4 2016
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $530.0K $70.00K $260.0K
YoY Change 488.89% 4.0%
% of Gross Profit
Research & Development $1.546M $840.0K $3.065M
YoY Change 70.08% 52.48%
% of Gross Profit
Depreciation & Amortization $39.74K $20.00K $73.06K
YoY Change 101.45% 21.77%
% of Gross Profit
Operating Expenses $2.076M $910.0K $3.328M
YoY Change 108.9% 47.28%
Operating Profit -$2.076M -$3.328M
YoY Change 108.9%
Interest Expense $0.00 $0.00 $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net $108.4K $18.02K
YoY Change
Pretax Income -$1.968M -$900.0K -$3.310M
YoY Change 99.32% 46.48%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.968M -$900.0K -$3.310M
YoY Change 99.32% 46.48%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$195.0K -$96.05K -$353.3K
COMMON SHARES
Basic Shares Outstanding 10.11M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2016 Q4 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.00M $5.860M
YoY Change 369.39% 15.58%
Cash & Equivalents $2.573M $5.856M $5.860M
Short-Term Investments $20.43M
Other Short-Term Assets $330.0K $60.00K
YoY Change 450.0% 0.0%
Inventory
Prepaid Expenses $246.7K $0.00
Receivables
Other Receivables
Total Short-Term Assets $23.33M $5.912M $5.910M
YoY Change 371.29% 15.43%
LONG-TERM ASSETS
Property, Plant & Equipment $443.6K $144.9K $140.0K
YoY Change 216.84% -22.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.950M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $7.398M $144.9K $150.0K
YoY Change 5184.36% -16.67%
TOTAL ASSETS
Total Short-Term Assets $23.33M $5.912M $5.910M
Total Long-Term Assets $7.398M $144.9K $150.0K
Total Assets $30.73M $6.057M $6.060M
YoY Change 503.67% 14.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $130.0K $331.5K $330.0K
YoY Change -43.46% 26.92%
Accrued Expenses $653.0K $113.8K $110.0K
YoY Change 366.42% 450.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $783.0K $445.4K $450.0K
YoY Change 111.63% 60.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $783.0K $445.4K $450.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $783.0K $445.4K $450.0K
YoY Change 111.63% 60.71%
SHAREHOLDERS EQUITY
Retained Earnings -$3.975M -$8.331M
YoY Change
Common Stock $10.11K $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.94M $5.612M $5.610M
YoY Change
Total Liabilities & Shareholders Equity $30.73M $6.057M $6.060M
YoY Change 503.67% 14.34%

Cashflow Statement

Concept 2018 Q1 2016 Q4 2016
OPERATING ACTIVITIES
Net Income -$1.968M -$900.0K -$3.310M
YoY Change 99.32% 46.48%
Depreciation, Depletion And Amortization $39.74K $20.00K $73.06K
YoY Change 101.45% 21.77%
Cash From Operating Activities -$1.448M -$710.0K -$2.888M
YoY Change 52.84% 45.87%
INVESTING ACTIVITIES
Capital Expenditures $204.3K -$10.00K $40.90K
YoY Change 1868.2% -151.13%
Acquisitions
YoY Change
Other Investing Activities $1.400M
YoY Change
Cash From Investing Activities $1.197M -$10.00K -$40.90K
YoY Change -11631.51% -48.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 183.8K 0.000 $3.718M
YoY Change -22.54%
NET CHANGE
Cash From Operating Activities -1.448M -710.0K -$2.888M
Cash From Investing Activities 1.197M -10.00K -$40.90K
Cash From Financing Activities 183.8K 0.000 $3.718M
Net Change In Cash -67.13K -720.0K $789.1K
YoY Change -92.99% -71.2%
FREE CASH FLOW
Cash From Operating Activities -$1.448M -$710.0K -$2.888M
Capital Expenditures $204.3K -$10.00K $40.90K
Free Cash Flow -$1.652M -$700.0K -$2.929M
YoY Change 72.52% 54.17%

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10087516 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
0 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
5016421 USD
CY2017 celc Stock Issued During Period Value Upon Exercise Of Warrants
StockIssuedDuringPeriodValueUponExerciseOfWarrants
2052 USD
CY2017 us-gaap Other Noncash Income
OtherNoncashIncome
25097 USD
CY2016 us-gaap Other Noncash Income
OtherNoncashIncome
0 USD
CY2017 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2052 USD
CY2016 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><u><font style="FONT-SIZE: 10pt">Accounting Estimates</font></u></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Management uses estimates and assumptions in preparing these financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the valuation of stock-based compensation and warrants issued to investors, a placement agent and an underwriter, and prepaid or accrued clinical trial costs.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><u><font style="FONT-SIZE: 10pt">Risks and Uncertainties</font></u></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Company is subject to risks common to companies in the development stage including, but not limited to, dependency on the clinical and commercial success of its diagnostic tests, ability to obtain regulatory approval of its diagnostic tests, the need for substantial additional financing to achieve its goals, uncertainty of broad adoption of its approved products, if any, by physicians and consumers, and significant competition.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q4 us-gaap Held To Maturity Securities Amortized Cost Before Other Than Temporary Impairment
HeldToMaturitySecuritiesAmortizedCostBeforeOtherThanTemporaryImpairment
28762231 USD
CY2016Q4 us-gaap Held To Maturity Securities Amortized Cost Before Other Than Temporary Impairment
HeldToMaturitySecuritiesAmortizedCostBeforeOtherThanTemporaryImpairment
0 USD
CY2017 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
at a conversion ratio of 40 Units for one share of Common Stock.
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
414 shares
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2017Q4 us-gaap Prepaid Insurance
PrepaidInsurance
162914 USD
CY2016Q4 us-gaap Prepaid Insurance
PrepaidInsurance
0 USD
CY2017Q4 us-gaap Prepaid Rent
PrepaidRent
21673 USD
CY2016Q4 us-gaap Prepaid Rent
PrepaidRent
0 USD
CY2017Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
25121 USD
CY2016Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
0 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
540175 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
300327 USD
CY2017Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
389802 USD
CY2016Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
72917 USD
CY2017Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
61829 USD
CY2016Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
40341 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
54509 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
567 USD
CY2017Q2 us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
300000 USD
CY2017Q4 us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
50000 USD
CY2016 celc Warrants Expiration Period
WarrantsExpirationPeriod
P10Y
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0200 pure
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.750 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.750 pure
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2652723 USD
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2017 celc Income Tax Reconciliation Revaluation Of Deferred Tax Due Tax Reform
IncomeTaxReconciliationRevaluationOfDeferredTaxDueTaxReform
366000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5702716 USD
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y6M22D
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-682000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
0 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-130000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
0 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
897000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2017Q4 celc Employee Service Sharebased Compensation Nonvested Awards Compensation Cost Not Yet Recognizedwithin Two Years
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedwithinTwoYears
829895 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
3000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
0 USD
CY2017Q4 celc Employee Service Sharebased Compensation Nonvested Awards Compensation Cost Not Yet Recognizedwithin Three Years
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedwithinThreeYears
412803 USD
CY2016 celc Income Tax Reconciliation Revaluation Of Deferred Tax Due Tax Reform
IncomeTaxReconciliationRevaluationOfDeferredTaxDueTaxReform
0 USD
CY2017Q4 celc Employee Service Sharebased Compensation Nonvested Awards Compensation Cost Not Yet Recognizedwithin Four Years
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedwithinFourYears
299706 USD
CY2017Q4 celc Employee Service Sharebased Compensation Nonvested Awards Compensation Cost Not Yet Recognizedwithin Five Years
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedwithinFiveYears
116950 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-454000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2017Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1659354 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
112000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
0 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
325000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
0 USD
CY2017Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
68000 USD
CY2016Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
0 USD
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
392000 USD
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
0 USD
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
897000 USD
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 USD
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2016Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
141456 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
188850 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
193338 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
64940 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
588584 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
5250 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
5250 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
0 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
0 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
0 shares

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