2021 Q1 Form 10-Q Financial Statement

#000162828021009283 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $72.00K $68.00K
YoY Change 5.88% 9.64%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.235M $1.486M
YoY Change 50.4% 8.06%
% of Gross Profit
Research & Development $3.279M $2.706M
YoY Change 21.18% 2.17%
% of Gross Profit
Depreciation & Amortization $119.0K $119.0K
YoY Change 0.0% -6.14%
% of Gross Profit
Operating Expenses $5.514M $4.192M
YoY Change 31.54% 4.18%
Operating Profit -$5.442M -$4.124M
YoY Change 31.96% 4.1%
Interest Expense $260.0K $40.00K
YoY Change 550.0%
% of Operating Profit
Other Income/Expense, Net $263.0K -$3.000K
YoY Change -8866.67% -249.25%
Pretax Income -$5.180M -$4.090M
YoY Change 26.65% 4.87%
Income Tax
% Of Pretax Income
Net Earnings -$5.179M -$4.089M
YoY Change 26.66% 4.72%
Net Earnings / Revenue -7193.06% -6013.24%
Basic Earnings Per Share -$0.14
Diluted Earnings Per Share -$0.14 -$412.7K
COMMON SHARES
Basic Shares Outstanding 37.16M shares 10.21M shares
Diluted Shares Outstanding 37.16M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $125.6M $9.300M
YoY Change 1250.54% -17.7%
Cash & Equivalents $14.66M $9.277M
Short-Term Investments $110.9M
Other Short-Term Assets $2.700M $900.0K
YoY Change 200.0% 0.0%
Inventory
Prepaid Expenses $2.744M $899.5K
Receivables $242.0K $106.4K
Other Receivables $0.00 $0.00
Total Short-Term Assets $128.6M $10.28M
YoY Change 1150.33% -16.65%
LONG-TERM ASSETS
Property, Plant & Equipment $504.0K $758.5K
YoY Change -33.55% 158.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $238.0K $156.4K
YoY Change 52.2% 79.58%
Total Long-Term Assets $1.003M $1.532M
YoY Change -34.55% -30.24%
TOTAL ASSETS
Total Short-Term Assets $128.6M $10.28M
Total Long-Term Assets $1.003M $1.532M
Total Assets $129.6M $11.82M
YoY Change 996.64% -18.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $803.0K $599.0K
YoY Change 34.06% 28.33%
Accrued Expenses $2.999M $3.412M
YoY Change -12.1% 68.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.479M $4.881M
YoY Change -8.24% 48.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $191.0K $139.0K
YoY Change 37.37% -91.31%
Total Long-Term Liabilities $191.0K $139.0K
YoY Change 37.37% -91.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.479M $4.881M
Total Long-Term Liabilities $191.0K $139.0K
Total Liabilities $4.756M $5.672M
YoY Change -16.15% 17.02%
SHAREHOLDERS EQUITY
Retained Earnings -$236.7M -$213.0M
YoY Change 11.12% 8.46%
Common Stock $4.000K $8.554K
YoY Change -53.24% 8.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $124.8M $6.141M
YoY Change
Total Liabilities & Shareholders Equity $129.6M $11.82M
YoY Change 996.64% -18.7%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$5.179M -$4.089M
YoY Change 26.66% 4.72%
Depreciation, Depletion And Amortization $119.0K $119.0K
YoY Change 0.0% -6.14%
Cash From Operating Activities -$5.884M -$3.374M
YoY Change 74.39% 0.42%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$111.7M
YoY Change
Cash From Investing Activities -$111.7M $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $1.000M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.263M $2.456M
YoY Change -48.57% -24.25%
NET CHANGE
Cash From Operating Activities -$5.884M -$3.374M
Cash From Investing Activities -$111.7M $0.00
Cash From Financing Activities $1.263M $2.456M
Net Change In Cash -$116.3M -$918.0K
YoY Change 12570.92% 646.01%
FREE CASH FLOW
Cash From Operating Activities -$5.884M -$3.374M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$5.884M -$3.374M
YoY Change 74.39% 0.26%

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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14662000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9277000 USD
CY2021Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
1000 USD
CY2020Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
1000 USD
CY2021Q1 crdf Preferred Stock Dividend Accrued
PreferredStockDividendAccrued
6000 USD
CY2020Q1 crdf Preferred Stock Dividend Accrued
PreferredStockDividendAccrued
6000 USD
CY2021Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
125600000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5185000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-4095000 USD
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
37164000 shares
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9910000 shares
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.14
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.41
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9025380 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11496978 shares
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
110989000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
72000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
110922000 USD
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3613000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3628000 USD
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3109000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3004000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
504000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
624000 USD
CY2021Q1 crdf Lessor Number Of Subleases
LessorNumberOfSubleases
3 lease
CY2021Q1 crdf Lessee Operating Lease Monthly Rent Payment
LesseeOperatingLeaseMonthlyRentPayment
80000 USD
CY2021Q1 crdf Lessee Operating Lease Annual Rent Increase Percentage
LesseeOperatingLeaseAnnualRentIncreasePercentage
0.03
CY2021Q1 crdf Lessor Number Of Subleases
LessorNumberOfSubleases
3 lease
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
95000 USD
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
107000 USD
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
101000 USD
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
73000 USD
CY2021Q1 us-gaap Lease Cost
LeaseCost
-6000 USD
CY2020Q1 us-gaap Lease Cost
LeaseCost
34000 USD
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
261000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
343000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
635000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
860000 USD
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
643000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
869000 USD
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M18D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
240000 USD
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
233000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
650000 USD
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
303000 USD
CY2021Q1 crdf Lessee Operating Lease Liability Payments Net Of Sublease Income Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeRemainderOfFiscalYear
347000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6000 USD
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
0 USD
CY2021Q1 crdf Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year One
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearOne
6000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3000 USD
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
0 USD
CY2021Q1 crdf Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Two
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearTwo
3000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
659000 USD
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
303000 USD
CY2021Q1 crdf Lessee Operating Lease Liability Payments Net Of Sublease Income Due
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDue
356000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
16000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
643000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
268000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
177000 USD
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
24333 USD
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
34929 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1768104 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
7.68
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
11572933 USD
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
5260992 shares
CY2020Q4 crdf Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
5.19
CY2020 crdf Class Of Warrant Or Right Term Of Outstanding Warrants Or Rights
ClassOfWarrantOrRightTermOfOutstandingWarrantsOrRights
P4Y1M6D
CY2021Q1 crdf Class Of Warrant Or Right Number Exercised
ClassOfWarrantOrRightNumberExercised
770833 shares
CY2021Q1 crdf Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights Exercised
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRightsExercised
1.64
CY2021Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4490159 shares
CY2021Q1 crdf Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
5.80
CY2021Q1 crdf Class Of Warrant Or Right Term Of Outstanding Warrants Or Rights
ClassOfWarrantOrRightTermOfOutstandingWarrantsOrRights
P3Y8M12D

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