$CELC
Celcuity Inc.

2018 Q2 Form 10-Q Financial Statement

#000114420418028226 Filed on May 14, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2017 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $380.0K $530.0K $90.00K
YoY Change 26.67% 488.89% 50.0%
% of Gross Profit
Research & Development $1.547M $1.546M $908.8K
YoY Change 18.61% 70.08% 37.69%
% of Gross Profit
Depreciation & Amortization $49.97K $39.74K $19.73K
YoY Change 94.25% 101.45% -1.37%
% of Gross Profit
Operating Expenses $1.929M $2.076M $993.9K
YoY Change 20.15% 108.9% 38.04%
Operating Profit -$1.929M -$2.076M -$993.9K
YoY Change 20.15% 108.9%
Interest Expense $0.00 $0.00 $10.00K
YoY Change -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net $112.7K $108.4K
YoY Change -166.11%
Pretax Income -$1.816M -$1.968M -$987.4K
YoY Change 2.27% 99.32% 37.13%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.816M -$1.968M -$987.4K
YoY Change 2.27% 99.32% 37.13%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$180.0K -$195.0K -$105.7K
COMMON SHARES
Basic Shares Outstanding 10.11M shares 10.11M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.56M $23.00M $4.900M
YoY Change 97.62% 369.39%
Cash & Equivalents $3.173M $2.573M $4.899M
Short-Term Investments $18.39M $20.43M
Other Short-Term Assets $230.0K $330.0K $60.00K
YoY Change -55.77% 450.0%
Inventory
Prepaid Expenses $154.0K $246.7K
Receivables
Other Receivables
Total Short-Term Assets $21.79M $23.33M $4.950M
YoY Change 90.81% 371.29%
LONG-TERM ASSETS
Property, Plant & Equipment $730.4K $443.6K $140.0K
YoY Change 170.54% 216.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.950M $6.950M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $7.679M $7.398M $140.0K
YoY Change 2744.09% 5184.36%
TOTAL ASSETS
Total Short-Term Assets $21.79M $23.33M $4.950M
Total Long-Term Assets $7.679M $7.398M $140.0K
Total Assets $29.47M $30.73M $5.090M
YoY Change 152.09% 503.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $149.4K $130.0K $230.0K
YoY Change -71.27% -43.46%
Accrued Expenses $807.8K $653.0K $140.0K
YoY Change 210.69% 366.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $10.00K
YoY Change
Total Short-Term Liabilities $962.9K $783.0K $370.0K
YoY Change 23.45% 111.63%
LONG-TERM LIABILITIES
Long-Term Debt $20.00K $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $20.00K $0.00 $0.00
YoY Change -99.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $962.9K $783.0K $370.0K
Total Long-Term Liabilities $20.00K $0.00 $0.00
Total Liabilities $986.1K $783.0K $370.0K
YoY Change -86.58% 111.63%
SHAREHOLDERS EQUITY
Retained Earnings -$5.792M -$3.975M
YoY Change
Common Stock $10.12K $10.11K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $28.48M $29.94M $4.720M
YoY Change
Total Liabilities & Shareholders Equity $29.47M $30.73M $5.090M
YoY Change 152.09% 503.67%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$1.816M -$1.968M -$987.4K
YoY Change 2.27% 99.32% 37.13%
Depreciation, Depletion And Amortization $49.97K $39.74K $19.73K
YoY Change 94.25% 101.45% -1.37%
Cash From Operating Activities -$1.330M -$1.448M -$947.1K
YoY Change 5.56% 52.84% 47.99%
INVESTING ACTIVITIES
Capital Expenditures -$170.0K $204.3K $10.38K
YoY Change 6.25% 1868.2% -151.89%
Acquisitions
YoY Change
Other Investing Activities $2.030M $1.400M
YoY Change
Cash From Investing Activities $1.850M $1.197M -$10.38K
YoY Change -1256.25% -11631.51% -48.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 80.00K 183.8K $0.00
YoY Change -98.92% -100.0%
NET CHANGE
Cash From Operating Activities -1.330M -1.448M -$947.1K
Cash From Investing Activities 1.850M 1.197M -$10.38K
Cash From Financing Activities 80.00K 183.8K $0.00
Net Change In Cash 600.0K -67.13K -$957.5K
YoY Change -90.02% -92.99% -179.13%
FREE CASH FLOW
Cash From Operating Activities -$1.330M -$1.448M -$947.1K
Capital Expenditures -$170.0K $204.3K $10.38K
Free Cash Flow -$1.160M -$1.652M -$957.5K
YoY Change 5.45% 72.52% 54.44%

Facts In Submission

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CY2018Q1 us-gaap Use Of Estimates
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<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: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> <u><strong>Accounting Estimates</strong></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">Management uses estimates and assumptions in preparing these unaudited condensed 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.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.760 pure
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.75 pure
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
507103 shares
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M29D
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.69
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4488707 USD
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2290360 USD
CY2018Q1 celc Employee Service Sharebased Compensation Nonvested Awards Compensation Cost Not Yet Recognizedremainder Of Fiscal Year
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedremainderOfFiscalYear
504997 USD
CY2018Q1 celc Employee Service Sharebased Compensation Nonvested Awards Compensation Cost Not Yet Recognizedwithin Two Years
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedwithinTwoYears
428897 USD
CY2018Q1 celc Employee Service Sharebased Compensation Nonvested Awards Compensation Cost Not Yet Recognizedwithin Three Years
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedwithinThreeYears
314726 USD
CY2018Q1 celc Employee Service Sharebased Compensation Nonvested Awards Compensation Cost Not Yet Recognizedwithin Four Years
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedwithinFourYears
131970 USD
CY2018Q1 celc Employee Service Sharebased Compensation Nonvested Awards Compensation Cost Not Yet Recognizedwithin Five Years
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedwithinFiveYears
1819 USD
CY2018Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1382409 USD
CY2018Q1 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
2135000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
0 USD
CY2018Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-67131 USD
CY2017Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-957518 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2689789 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5906348 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2622658 USD
CY2017Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4948830 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
501603 shares
CY2017Q1 us-gaap Restricted Cash
RestrictedCash
50000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
302088 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.58
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.91
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
305838 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.93
CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4898830 USD
CY2018Q1 us-gaap Restricted Cash
RestrictedCash
50000 USD
CY2018Q1 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: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"><strong><u><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Risks and Uncertainties</font></u></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">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.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
123870 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
188850 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
193338 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
64940 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
570998 USD
CY2018Q1 us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
50000 USD

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