$CRVO
CervoMed Inc.

2020 Q1 Form 10-K Financial Statement

#000143774920005469 Filed on March 17, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q3 2018 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 $1.390M $1.290M $1.420M
YoY Change 15.83% -18.87% 10.94%
% of Gross Profit
Research & Development $1.534M $1.743M $1.370M
YoY Change -9.73% 49.04% 20.18%
% of Gross Profit
Depreciation & Amortization $27.02K $20.00K $30.00K
YoY Change 47.88% -33.33% 0.0%
% of Gross Profit
Operating Expenses $1.534M $1.743M $2.820M
YoY Change -9.73% 49.04% 15.1%
Operating Profit $2.955M -$3.052M
YoY Change -201.25% -56.23%
Interest Expense -$34.10K $21.99K $30.00K
YoY Change -264.86% -42.1% -99.06%
% of Operating Profit -1.15%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$2.921M -$3.030M -$5.530M
YoY Change 0.79% -56.3% -857.53%
Income Tax -$362.4K -$226.0K -$50.00K
% Of Pretax Income
Net Earnings -$2.559M -$2.804M -$5.570M
YoY Change -6.88% -58.27% -411.17%
Net Earnings / Revenue
Basic Earnings Per Share -$0.07 -$0.60
Diluted Earnings Per Share $34.51M $4.693M -$1.633M
COMMON SHARES
Basic Shares Outstanding 34.60M 4.693M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.83M $6.140M $7.990M
YoY Change 103.19% -44.28% -10.22%
Cash & Equivalents $10.83M $6.140M $7.991M
Short-Term Investments
Other Short-Term Assets $890.0K $580.0K $920.0K
YoY Change -15.24% 5.45% 19.48%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $11.72M $6.718M $8.914M
YoY Change 83.54% -41.93% -7.78%
LONG-TERM ASSETS
Property, Plant & Equipment $225.3K $279.4K $350.3K
YoY Change -32.13% -26.31% -23.96%
Goodwill $0.00
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $252.6K $290.7K $298.5K
YoY Change -21.01% 10.32% -33.74%
Total Long-Term Assets $9.341M $9.479M $9.288M
YoY Change -2.74% -21.17% -43.64%
TOTAL ASSETS
Total Short-Term Assets $11.72M $6.718M $8.914M
Total Long-Term Assets $9.341M $9.479M $9.288M
Total Assets $21.06M $16.20M $18.20M
YoY Change 31.71% -31.35% -30.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $655.3K $502.5K $198.8K
YoY Change 36.52% 289.34% -61.17%
Accrued Expenses $630.0K $720.0K $610.0K
YoY Change -11.27% -12.2% -62.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.287M $1.218M $804.0K
YoY Change 7.82% 28.85% -70.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $110.0K $160.0K
YoY Change -45.0%
Total Long-Term Liabilities $110.0K $160.0K $0.00
YoY Change -45.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.287M $1.218M $804.0K
Total Long-Term Liabilities $110.0K $160.0K $0.00
Total Liabilities $3.156M $2.678M $2.590M
YoY Change 4.04% -0.32% -47.3%
SHAREHOLDERS EQUITY
Retained Earnings -$94.28M -$87.97M -$79.92M
YoY Change 14.04% 18.32% 29.84%
Common Stock $112.2M $101.5M $95.54M
YoY Change 17.31% 6.54% 15.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.90M $13.52M $15.61M
YoY Change
Total Liabilities & Shareholders Equity $21.06M $16.20M $18.20M
YoY Change 31.71% -31.35% -30.38%

Cashflow Statement

Concept 2020 Q1 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income -$2.559M -$2.804M -$5.570M
YoY Change -6.88% -58.27% -411.17%
Depreciation, Depletion And Amortization $27.02K $20.00K $30.00K
YoY Change 47.88% -33.33% 0.0%
Cash From Operating Activities -$3.504M -$2.150M -$3.020M
YoY Change 31.87% 11.98% 32.46%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 155.2K -80.00K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -3.504M -2.150M -3.020M
Cash From Investing Activities 0.000
Cash From Financing Activities 155.2K -80.00K 0.000
Net Change In Cash -3.349M -2.230M -3.020M
YoY Change 26.03% 16.15% -139.32%
FREE CASH FLOW
Cash From Operating Activities -$3.504M -$2.150M -$3.020M
Capital Expenditures $0.00
Free Cash Flow -$3.020M
YoY Change 33.04%

Facts In Submission

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<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="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:8pt;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:8pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:26pt;">The preparation of financial statements in conformity with US GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:8pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:26pt;">On an ongoing basis, the Company evaluates its estimates using historical experience and other factors, including the current economic environment. Significant items subject to such estimates are assumptions used for purposes of determining stock-based compensation and accounting for research and development activities. Management believes its estimates to be reasonable under the circumstances. Actual results could differ significantly from those estimates.</div></div></div></div>

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