2015 Q3 Form 10-K Financial Statement
#000143774916028395 Filed on March 25, 2016
Income Statement
| Concept | 2015 Q3 | 2015 | 2014 Q4 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $420.0K | $2.520M | $1.560M |
| YoY Change | -77.54% | -47.06% | 437.93% |
| % of Gross Profit | |||
| Research & Development | $922.2K | $3.875M | $1.530M |
| YoY Change | -27.56% | 35.47% | |
| % of Gross Profit | |||
| Depreciation & Amortization | $5.393K | $23.27K | -$310.0K |
| YoY Change | -98.54% | -95.89% | -146.97% |
| % of Gross Profit | |||
| Operating Expenses | $13.23M | $23.83M | -$1.200M |
| YoY Change | 276.59% | 63.04% | -227.66% |
| Operating Profit | -$1.346M | -$6.406M | |
| YoY Change | -61.66% | -56.16% | |
| Interest Expense | $76.17K | $313.1K | -$10.00K |
| YoY Change | -12.11% | 14.48% | -106.67% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $1.165K | $6.357K | $530.0K |
| YoY Change | -101.39% | -100.25% | 2550.0% |
| Pretax Income | -$1.423M | -$6.719M | -$7.880M |
| YoY Change | -60.43% | -60.87% | 910.26% |
| Income Tax | -$2.820M | ||
| % Of Pretax Income | |||
| Net Earnings | -$1.423M | -$6.719M | -$5.070M |
| YoY Change | -58.76% | -53.18% | 525.93% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$9.467M | -$39.53M | -$36.21M |
| COMMON SHARES | |||
| Basic Shares Outstanding | 18.61M | 18.61M | 18.61M shares |
| Diluted Shares Outstanding | 18.61M | 18.61M |
Balance Sheet
| Concept | 2015 Q3 | 2015 | 2014 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $14.58M | $2.000M | $21.88M |
| YoY Change | -38.71% | -90.86% | 8652.0% |
| Cash & Equivalents | $1.904M | $2.000M | $2.337M |
| Short-Term Investments | |||
| Other Short-Term Assets | $1.050M | $50.00K | $2.290M |
| YoY Change | -52.7% | -97.82% | -16.42% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $15.63M | $2.040M | $24.17M |
| YoY Change | -39.91% | -91.56% | 706.16% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $63.39K | $50.00K | $102.3K |
| YoY Change | 16.61% | -50.0% | 808.5% |
| Goodwill | $985.0K | $12.06M | |
| YoY Change | -91.45% | 57.74% | |
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $250.0K | ||
| YoY Change | |||
| Other Assets | $180.0K | ||
| YoY Change | |||
| Total Long-Term Assets | $7.748M | $240.0K | $18.61M |
| YoY Change | -68.42% | -98.71% | 21.26% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $15.63M | $2.040M | $24.17M |
| Total Long-Term Assets | $7.748M | $240.0K | $18.61M |
| Total Assets | $23.38M | $2.280M | $42.78M |
| YoY Change | -53.75% | -94.67% | 133.2% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $240.4K | $420.0K | $417.3K |
| YoY Change | 127.8% | 0.0% | -72.55% |
| Accrued Expenses | $1.790M | $620.0K | $1.920M |
| YoY Change | 19.33% | -67.71% | -44.83% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $420.0K | $0.00 | |
| YoY Change | -100.0% | ||
| Total Short-Term Liabilities | $2.035M | $1.470M | $2.339M |
| YoY Change | -31.65% | -37.18% | -73.66% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $820.0K | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $30.00K | ||
| YoY Change | |||
| Total Long-Term Liabilities | $0.00 | $850.0K | $0.00 |
| YoY Change | |||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $2.035M | $1.470M | $2.339M |
| Total Long-Term Liabilities | $0.00 | $850.0K | $0.00 |
| Total Liabilities | $4.309M | $2.320M | $4.613M |
| YoY Change | -44.38% | -49.67% | -61.17% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$96.00M | -$75.29M | |
| YoY Change | 36.71% | 23.55% | |
| Common Stock | $115.1M | $113.5M | |
| YoY Change | 1.81% | 68.34% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $19.07M | -$40.00K | $38.17M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $23.38M | $2.280M | $42.78M |
| YoY Change | -53.75% | -94.67% | 133.2% |
Cashflow Statement
| Concept | 2015 Q3 | 2015 | 2014 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$1.423M | -$6.719M | -$5.070M |
| YoY Change | -58.76% | -53.18% | 525.93% |
| Depreciation, Depletion And Amortization | $5.393K | $23.27K | -$310.0K |
| YoY Change | -98.54% | -95.89% | -146.97% |
| Cash From Operating Activities | -$980.0K | -$5.185M | -$1.930M |
| YoY Change | -50.51% | -42.58% | |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $0.00 | $40.29K | -$50.00K |
| YoY Change | -20.86% | ||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | $2.500M | |
| YoY Change | |||
| Cash From Investing Activities | $0.00 | $2.460M | -$50.00K |
| YoY Change | -4931.39% | ||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $0.00 | ||
| YoY Change | -100.0% | ||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 0.000 | 2.386M | 80.00K |
| YoY Change | -100.0% | -92.23% | |
| NET CHANGE | |||
| Cash From Operating Activities | -980.0K | -5.185M | -1.930M |
| Cash From Investing Activities | 0.000 | 2.460M | -50.00K |
| Cash From Financing Activities | 0.000 | 2.386M | 80.00K |
| Net Change In Cash | -980.0K | -339.3K | -1.900M |
| YoY Change | -70.83% | -101.57% | |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$980.0K | -$5.185M | -$1.930M |
| Capital Expenditures | $0.00 | $40.29K | -$50.00K |
| Free Cash Flow | -$980.0K | -$5.226M | -$1.880M |
| YoY Change | -50.51% | -42.46% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
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Accrued Board Fees
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|
55938 | |
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Accrued Board Fees
AccruedBoardFees
|
55000 | |
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|
-516 | |
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Contractual Obligation Due In Next Rolling Twelve Months
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|
72920 | |
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Contractual Obligation Due In Next Rolling Year Three
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|
12432 | |
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|
74355 | |
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|
||
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Conversion Of Accounts Payable To Notes Payable
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407998 | |
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Depreciation Depletion And Amortization Including Discontinued Operations
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|
23269 | |
| CY2014 | dffn |
Depreciation Depletion And Amortization Including Discontinued Operations
DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations
|
566262 | |
| CY2015 | dffn |
Effective Income Tax Rate Reconciliation Goodwill Impairment Percent
EffectiveIncomeTaxRateReconciliationGoodwillImpairmentPercent
|
0.189 | |
| CY2014 | dffn |
Effective Income Tax Rate Reconciliation Goodwill Impairment Percent
EffectiveIncomeTaxRateReconciliationGoodwillImpairmentPercent
|
||
| CY2015 | dffn |
Fair Value Of Stock And Stock Warrants Issued As Payment Of Accounts Payable And Accrued Liabilites
FairValueOfStockAndStockWarrantsIssuedAsPaymentOfAccountsPayableAndAccruedLiabilites
|
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10-K | |
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2015 | |
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2015-12-31 | |
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false | |
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|
1323771 | |
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Fair Value Of Stock And Stock Warrants Issued To Related Party As Payment Of Note Payable
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Fair Value Of Stock And Stock Warrants Issued To Related Party As Payment Of Note Payable
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1293105 | |
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Fair Value Of Stock Issued As Payment Of Note Payable
FairValueOfStockIssuedAsPaymentOfNotePayable
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Fair Value Of Stock Issued As Payment Of Note Payable
FairValueOfStockIssuedAsPaymentOfNotePayable
|
580055 | |
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Gain Loss On Settlement Of Notes Payable
GainLossOnSettlementOfNotesPayable
|
-400016 | |
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Gain Loss On Settlement Of Notes Payable
GainLossOnSettlementOfNotesPayable
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Gain Loss On Settlement Of Notes Payable
GainLossOnSettlementOfNotesPayable
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-400016 | |
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4510986 | |
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547061 | |
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Market Capitalization
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16700000 | |
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31900000 | |
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Allocated Share Based Compensation Expense
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Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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Assets
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Assets
Assets
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AssetsCurrent
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Assets Current
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24170817 | |
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Basis Of Accounting
BasisOfAccounting
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 36pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2.</div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Basis of Presentation </div></div></div></td> </tr> </table> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Basis of Presentation</div></div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">These financial statements are expressed in U.S. dollars. The Company is organized into one operating and one reporting segment.</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). </div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Going Concern </div></div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">As of December 31, 2015, the Company had $12,006,075 in cash and cash equivalents. Net cash used in operating activities was $9,599,585 for the year ended December 31, 2015. Net loss for the year ended December 31, 2015 was $23,820,675. As of December 31, 2015, the Company had working capital of $10,971,423. On January 8, 2016, in connection with the Merger described in Note 17, the Company paid $3,261,044 in severance payments to former executives and employees. The Company expects to incur losses for the next several years as it plans to develop its TSC product candidate. The Company is unable to predict the extent of any further losses or when the Company will become profitable, if at all. </div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">These financial statements have been prepared under the assumption that the Company will continue as a going concern. Due to the Company’s recurring and expected continuing losses from operations and its present financial resources, the Company has concluded that there is substantial doubt in the Company’s ability to continue as a going concern within one year of issuance on these financial statements without additional capital becoming available to fund planned Phase 2/3 and Phase 3 clinical trials, attain further operating efficiencies and, ultimately, to generate revenue. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. </div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company will be required to raise additional capital within the next year to develop its trans sodium crocetinate product candidate and to fund operations at current cash expenditure levels. The Company cannot be certain that additional funding will be available on acceptable terms, or at all. To the extent that the Company raises additional funds by issuing equity securities, its stockholders may experience significant dilution. Any debt financing, if available, may involve restrictive covenants that impact the Company’s ability to conduct its business. If the Company is unable to obtain additional financing when needed, (i) it may be required to delay, scale back or discontinue the development and/or commercialization of one or more product candidates; (ii) seek collaborators for product candidates at an earlier stage than otherwise would be desirable and on terms that are less favorable than might otherwise be available; or (iii) relinquish or otherwise dispose of rights to technologies, product candidates or products that we would otherwise seek to develop or commercialize itself on unfavorable terms.</div></div></div> | |
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 36pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">1.</div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Description of Business and Corporate History</div></div></div></td> </tr> </table> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Diffusion Pharmaceuticals Inc. (f/k/a RestorGenex Corporation) (“Company”) is a specialty biopharmaceutical company focused on developing products for ophthalmology, oncology and dermatology. Unless the context otherwise indicates, all information in these notes relates to the Company during the years ended December 31, 2015 and 2014 and does not reflect the completion of the Merger (as defined below).</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">RestorGenex’s primary product is a novel PI3K/Akt/mTOR pathway inhibitor which has completed two Phase I clinical trials for age-related macular degeneration and is in pre-clinical development in oncology, specifically glioblastoma multiforme. The Company’s current pipeline also includes a “soft” anti-androgen compound for the treatment of acne vulgaris. The Company’s novel inhibition of the PI3K/Akt/mTOR pathway and unique targeting of the androgen receptor show promise in a number of additional diseases, which the Company is evaluating for the purpose of creating innovative therapies that are safe and effective treatments to satisfy unmet medical needs.</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On January 8, 2016, the Company completed its previously announced merger (“Merger”) with Diffusion Pharmaceuticals LLC (“Diffusion LLC”), and changed its name to Diffusion Pharmaceuticals, Inc. </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Diffusion LLC is a clinical-stage specialty pharmaceutical company developing new, small-molecule drugs that help regulate the movement of oxygen into tissue by a novel mechanism of action. The Company’s lead product candidate, trans sodium crocetinate (“TSC”), uses this novel mechanism to re-oxygenate the microenvironment of solid cancerous tumors, thereby enhancing tumor cells’ response to conventional treatment without additional side effects.</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> See note 17 to the consolidated financial statements for additional information regarding the Merger.</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On June 18, 2015, the Company changed its state of incorporation from the State of Nevada to the State of Delaware.</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On March 7, 2014, the Company effected a one-for-100 reverse split of its outstanding common stock. All share data have been adjusted retroactively to reflect the one-for-100 reverse stock split effected on March 7, 2014.</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On March 3, 2014, the Company entered into an agreement and plan of merger with Paloma Acquisition, Inc., Paloma Pharmaceuticals, Inc. (“Paloma”) and David Sherris, Ph.D., as founding stockholder and holder representative, pursuant to which the Company agreed to acquire by virtue of a merger all of the outstanding capital stock of Paloma, with Paloma becoming a wholly owned subsidiary of the Company. On March 28, 2014, the merger with Paloma was effected and the Company issued an aggregate of 2,500,000 shares of common stock to the holders of Paloma’s common stock and its derivative securities, which included the assumption of promissory notes of Paloma in the aggregate amount (including both principal amount and accrued interest) of approximately $1,151,725, to be paid on the first anniversary of the closing date of the Paloma merger. For accounting purposes, the acquisition date was deemed to be March 3, 2014, the date the Company assumed oversight and control of the activities of Paloma and VasculoMedics.</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Also on March 3, 2014, the Company entered into an agreement and plan of merger with VasculoMedics Acquisition, Inc., VasculoMedics, Inc. (“VasculoMedics”) and David Sherris, Ph.D. pursuant to which the Company agreed to acquire by merger all of the outstanding capital stock of VasculoMedics, with VasculoMedics becoming a wholly owned subsidiary of the Company. The VasculoMedics merger was concurrently closed with and as a condition to the closing of the Paloma merger on March 28, 2014 and the Company issued an aggregate of 220,000 shares of common stock to the VasculoMedics stockholders.</div></div> <div style=" MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Effective September 30, 2013, the Company entered into an agreement and plan of merger with Canterbury Acquisition LLC, Hygeia Acquisition, Inc., Canterbury Laboratories, LLC (“Canterbury”), Hygeia Therapeutics, Inc. (“Hygeia”) and Yael Schwartz, Ph.D., as holder representative, pursuant to which the Company agreed to acquire by virtue of two mergers all of the outstanding capital stock of Canterbury and Hygeia, with Canterbury and Hygeia becoming wholly owned subsidiaries of the Company. The consideration paid by the Company in connection with such mergers was the issuance by the Company of an aggregate of 1,150,116 shares of common stock issued to the stakeholders of Canterbury and Hygeia. The mergers were completed on November 18, 2013. For accounting purposes, the acquisition date was deemed to be September 30, 2013, the date the Company assumed oversight and control of the activities of the acquired companies.</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Prior to the Company repositioning itself as a specialty biopharmaceutical company in 2013, the Company operated various entertainment and sports events which it acquired in a series of acquisitions beginning in March 2008 and operated under the name Stratus Media Group, Inc. until March 7, 2014 when the Company changed its name to RestorGenex Corporation. </div></div></div> | |
| CY2014 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
30709967 | |
| CY2015 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-278227 | |
| CY2014 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-50911 | |
| CY2015 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-9599585 | |
| CY2014 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-9030133 | |
| CY2015 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-23820675 | |
| CY2014 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-14352824 | |
| CY2015 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
6357 | |
| CY2014 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-2555890 | |
| CY2015 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
| CY2015 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | |
| CY2015 | us-gaap |
Operating Expenses
OperatingExpenses
|
23827032 | |
| CY2014 | us-gaap |
Operating Expenses
OperatingExpenses
|
14613818 | |
| CY2015 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-23827032 | |
| CY2014 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-14613818 | |
| CY2015Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1167692 | |
| CY2014Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1921293 | |
| CY2014Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
109034 | |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
57995 | |
| CY2014Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
102315 | |
| CY2015 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
6357 | |
| CY2014 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
25401 | |
| CY2015Q4 | us-gaap |
Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
|
176319 | |
| CY2014Q4 | us-gaap |
Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
|
99180 | |
| CY2015 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
250000 | |
| CY2014 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
||
| CY2015 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
28227 | |
| CY2014 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
50911 | |
| CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | |
| CY2015 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
||
| CY2014 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
31849967 | |
| CY2014Q3 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
35600000 | |
| CY2015 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
||
| CY2014 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
||
| CY2015 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
||
| CY2014 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
400000 | |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
79138 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.68 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
0.71 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.7 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0184 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0203 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0182 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1861952 | |
| CY2015 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
||
| CY2014 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
1540000 | |
| CY2015 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3852973 | |
| CY2014 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2860658 | |
| CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-99111049 | |
| CY2014Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-75290374 | |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
367110 | |
| CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1072111 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
4.22 | |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
11.10 | |
| CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
9.49 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
28370 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
643399 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
33.99 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
6.28 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
3287181 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
6650 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3011498 | |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
389436 | |
| CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3648247 | |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
11.77 | |
| CY2015 | us-gaap |
Severance Costs1
SeveranceCosts1
|
967683 | |
| CY2014 | us-gaap |
Severance Costs1
SeveranceCosts1
|
||
| CY2015 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2095086 | |
| CY2014 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1606947 | |
| CY2015 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
|
54 | |
| CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
5.44 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
4.01 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
0 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
3011498 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
4.01 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
||
| CY2015 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
||
| CY2015 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
1.90 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
3.71 | |
| CY2014 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
|
1.90 | |
| CY2015 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
|
1.90 | |
| CY2014 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
|
54 | |
| CY2015Q2 | us-gaap |
Share Price
SharePrice
|
2.80 | |
| CY2015Q3 | us-gaap |
Share Price
SharePrice
|
0.90 | |
| CY2015Q4 | us-gaap |
Share Price
SharePrice
|
1 | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
|
P90D | ||
| CY2015Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
|
P1Y | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y | |
| CY2014 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y | |
| CY2015Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
0 | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P6Y255D | |
| CY2013 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P3Y328D | |
| CY2014 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P7Y73D | |
| CY2013 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P3Y328D | |
| CY2014 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y292D | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y146D | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P7Y146D | |
| CY2014Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
2776500 | |
| CY2014Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
3418125 | |
| CY2014Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
872310 | |
| CY2014Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
1778750 | |
| CY2014Q3 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
50000 | |
| CY2014 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
||
| CY2015 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
||
| CY2014 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
31849967 | |
| CY2013Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
6458757 | |
| CY2014Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
38165625 | |
| CY2015Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
16439520 | |
| CY2015Q4 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
221183 | |
| CY2014Q4 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
0 | |
| CY2015 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Use of Estimates</div></div></div><div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The preparation of the Company’s consolidated financial statements in accordance with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company’s consolidated financial statements and accompanying notes. Although these estimates are based on the Company’s knowledge of current events and actions that the Company may undertake in the future, actual results may differ from such estimates and assumptions.</div></div></div></div> | |
| CY2015 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
18614968 | |
| CY2014 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14299473 | |
| CY2015 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
18614968 | |
| CY2014 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14299473 |
