2023 Q2 Form 10-Q Financial Statement

#000162828023015692 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $108.0K $83.00K $128.0K
YoY Change 18.68% 12.16% -3.76%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.296M $3.083M $3.078M
YoY Change 39.21% -21.75% -19.74%
% of Gross Profit
Research & Development $8.020M $9.052M $6.442M
YoY Change 7.68% 25.58% 10.61%
% of Gross Profit
Depreciation & Amortization $98.00K $90.00K $86.00K
YoY Change 157.89% 190.32% -23.89%
% of Gross Profit
Operating Expenses $12.32M $12.14M $9.520M
YoY Change 16.92% 8.85% -1.44%
Operating Profit -$12.21M -$12.05M
YoY Change 16.9% 8.83%
Interest Expense $1.053M $940.0K $740.0K
YoY Change 316.21% 623.08% 780.95%
% of Operating Profit
Other Income/Expense, Net $1.058M $829.0K -$45.00K
YoY Change 923.46%
Pretax Income -$11.15M -$11.22M -$8.697M
YoY Change 6.77% 2.09% -7.89%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$11.15M -$11.22M -$8.703M
YoY Change 6.77% 2.09% -7.83%
Net Earnings / Revenue -10324.07% -13521.69% -6799.22%
Basic Earnings Per Share -$0.25 -$0.25
Diluted Earnings Per Share -$0.25 -$0.25 -$0.20
COMMON SHARES
Basic Shares Outstanding 44.68M shares 44.68M shares 44.68M shares
Diluted Shares Outstanding 44.68M shares 44.68M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.67M $65.54M $100.3M
YoY Change -47.56% -42.74% -6.75%
Cash & Equivalents $19.37M $15.02M $16.35M
Short-Term Investments $41.30M $50.52M $83.92M
Other Short-Term Assets $3.142M $4.109M $5.246M
YoY Change -35.31% -31.48% 9.96%
Inventory
Prepaid Expenses $3.142M $4.109M $5.246M
Receivables $161.0K $676.0K $771.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $92.73M $101.8M $111.3M
YoY Change -27.22% -25.07% -23.84%
LONG-TERM ASSETS
Property, Plant & Equipment $1.356M $1.320M $1.269M
YoY Change 19.16% 140.0% 232.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.390M $1.361M $1.387M
YoY Change 651.35% 623.94% 480.33%
Total Long-Term Assets $4.724M $4.796M $4.907M
YoY Change 22.8% 41.14% 43.61%
TOTAL ASSETS
Total Short-Term Assets $92.73M $101.8M $111.3M
Total Long-Term Assets $4.724M $4.796M $4.907M
Total Assets $97.46M $106.5M $116.2M
YoY Change -25.75% -23.46% -22.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.939M $2.914M $1.956M
YoY Change 93.1% 131.09% 35.93%
Accrued Expenses $5.501M $4.555M $5.177M
YoY Change -12.39% -3.86% 14.36%
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 $9.123M $8.148M $7.808M
YoY Change 7.57% 22.27% 19.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.753M $1.898M $2.040M
YoY Change -23.98% -22.15%
Total Long-Term Liabilities $1.753M $1.898M $2.040M
YoY Change -23.98% -22.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.123M $8.148M $7.808M
Total Long-Term Liabilities $1.753M $1.898M $2.040M
Total Liabilities $10.88M $10.05M $9.848M
YoY Change 0.83% 10.37% 7.9%
SHAREHOLDERS EQUITY
Retained Earnings -$320.5M -$309.3M -$298.1M
YoY Change 13.94% 14.22% 14.74%
Common Stock $4.000K $4.000K $4.000K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $86.58M $96.50M $106.3M
YoY Change
Total Liabilities & Shareholders Equity $97.46M $106.5M $116.2M
YoY Change -25.75% -23.46% -22.3%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$11.15M -$11.22M -$8.703M
YoY Change 6.77% 2.09% -7.83%
Depreciation, Depletion And Amortization $98.00K $90.00K $86.00K
YoY Change 157.89% 190.32% -23.89%
Cash From Operating Activities -$7.132M -$8.659M -$9.390M
YoY Change 6.53% -15.51% 27.06%
INVESTING ACTIVITIES
Capital Expenditures $251.0K $8.000K $75.00K
YoY Change -180.45% -95.32% -170.09%
Acquisitions
YoY Change
Other Investing Activities $11.74M $7.337M $7.095M
YoY Change 48.17% -60.4% -181.67%
Cash From Investing Activities $11.48M $7.329M $7.020M
YoY Change 50.95% -60.08% -179.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 $0.00 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -7.132M -$8.659M -9.390M
Cash From Investing Activities 11.48M $7.329M 7.020M
Cash From Financing Activities 0.000 $0.00 0.000
Net Change In Cash 4.352M -$1.330M -2.370M
YoY Change 376.67% -116.4% 93.94%
FREE CASH FLOW
Cash From Operating Activities -$7.132M -$8.659M -$9.390M
Capital Expenditures $251.0K $8.000K $75.00K
Free Cash Flow -$7.383M -$8.667M -$9.465M
YoY Change 15.67% -16.82% 29.96%

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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20052000 usd
CY2023Q1 us-gaap Income Taxes Paid
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CY2022Q1 us-gaap Income Taxes Paid
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133000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2023Q1 us-gaap Cash Cash Equivalents And Short Term Investments
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31354000 usd
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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50673000 usd
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12000 usd
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165000 usd
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50520000 usd
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104000 usd
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CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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116000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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192000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
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84299000 usd
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19000 usd
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DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxCurrent
394000 usd
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83924000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Noncurrent
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5016000 usd
CY2022Q4 crdf Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Noncurrent
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21000 usd
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CY2023Q1 us-gaap Property Plant And Equipment Gross
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4779000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4682000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3459000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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3413000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1320000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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1269000 usd
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1849000 usd
CY2023Q1 crdf Accrued Clinical Trial
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2709000 usd
CY2022Q4 crdf Accrued Clinical Trial
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2333000 usd
CY2023Q1 crdf Accrued Research Agreements
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571000 usd
CY2022Q4 crdf Accrued Research Agreements
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509000 usd
CY2023Q1 crdf Accrued Director Fees
AccruedDirectorFees
125000 usd
CY2022Q4 crdf Accrued Director Fees
AccruedDirectorFees
125000 usd
CY2023Q1 crdf Patent License And Other Fees Payable
PatentLicenseAndOtherFeesPayable
59000 usd
CY2022Q4 crdf Patent License And Other Fees Payable
PatentLicenseAndOtherFeesPayable
24000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
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108000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
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337000 usd
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4555000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
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5177000 usd
CY2023Q1 crdf Lessee Operating Lease Monthly Rent Payment
LesseeOperatingLeaseMonthlyRentPayment
61000 usd
CY2023Q1 crdf Lessee Operating Lease Annual Rent Increase Percentage
LesseeOperatingLeaseAnnualRentIncreasePercentage
0.03
CY2023Q1 us-gaap Operating Lease Cost
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183000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
191000 usd
CY2023Q1 us-gaap Lease Cost
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183000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
191000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2115000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2251000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
679000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
675000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1898000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2040000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2577000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2715000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y10M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P4Y2M12D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
185000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
70000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
491000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
754000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
775000 usd
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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
796000 usd
CY2023Q1 crdf Lessee Operating Lease Liability To Be Paid After Year Three
LesseeOperatingLeaseLiabilityToBePaidAfterYearThree
136000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2952000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
375000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2577000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1064000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1152000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1900000 usd
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1000 usd
CY2023Q1 crdf Class Of Warrant Or Right Weighted Average Exercise Price Expired During Period
ClassOfWarrantOrRightWeightedAverageExercisePriceExpiredDuringPeriod
101.52
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3150000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5150000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3150000 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4360968 shares
CY2022Q4 crdf Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
5.33
CY2022 crdf Class Of Warrant Or Right Term Of Outstanding Warrants Or Rights
ClassOfWarrantOrRightTermOfOutstandingWarrantsOrRights
P2Y1M6D
CY2023Q1 crdf Class Of Warrant Or Right Expired During Period
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64496 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4296472 shares
CY2023Q1 crdf Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
3.89
CY2023Q1 crdf Class Of Warrant Or Right Term Of Outstanding Warrants Or Rights
ClassOfWarrantOrRightTermOfOutstandingWarrantsOrRights
P1Y9M18D
CY2023Q1 crdf Collaborative Arrangement Rights And Obligations Milestone And Royalty Payments Made
CollaborativeArrangementRightsAndObligationsMilestoneAndRoyaltyPaymentsMade
0 usd
CY2022Q1 crdf Collaborative Arrangement Rights And Obligations Milestone And Royalty Payments Made
CollaborativeArrangementRightsAndObligationsMilestoneAndRoyaltyPaymentsMade
0 usd

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