$CRVO
CervoMed Inc.

2021 Q4 Form 10-K Financial Statement

#000143774922006737 Filed on March 18, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 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 $1.935M $7.445M $1.480M
YoY Change 30.74% 15.61% 16.54%
% of Gross Profit
Research & Development $1.505M $8.499M $2.580M
YoY Change -41.68% -9.85% 55.42%
% of Gross Profit
Depreciation & Amortization $26.12K $93.42K $20.00K
YoY Change 30.6% -9.45% -33.33%
% of Gross Profit
Operating Expenses $3.466M $8.499M $4.090M
YoY Change -15.27% -9.85% 38.18%
Operating Profit -$24.68M
YoY Change 54.47%
Interest Expense -$8.870K $137.5K $30.00K
YoY Change -129.57% 20.33% 0.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$3.474M -$24.54M -$4.060M
YoY Change -14.42% 54.72% 38.57%
Income Tax -$400.0K -$443.9K $0.00
% Of Pretax Income
Net Earnings -$3.474M -$24.10M -$4.060M
YoY Change -14.42% 69.86% 8.27%
Net Earnings / Revenue
Basic Earnings Per Share -$0.25
Diluted Earnings Per Share -$1.847M $97.63M -$62.77K
COMMON SHARES
Basic Shares Outstanding 101.9M 64.02M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.31M $37.31M $18.52M
YoY Change 101.48% 101.48% 30.61%
Cash & Equivalents $37.31M $37.31M $18.52M
Short-Term Investments
Other Short-Term Assets $510.0K $510.0K $260.0K
YoY Change 96.16% 96.16% -44.68%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $37.82M $37.82M $18.78M
YoY Change 101.44% 101.4% 28.17%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00 $149.2K
YoY Change -100.0% -100.0% -40.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.58K $15.58K $15.77K
YoY Change -1.22% -22.1% -95.11%
Total Long-Term Assets $15.58K $15.58K $8.953M
YoY Change -99.83% -99.83% -5.37%
TOTAL ASSETS
Total Short-Term Assets $37.82M $37.82M $18.78M
Total Long-Term Assets $15.58K $15.58K $8.953M
Total Assets $37.84M $37.84M $27.73M
YoY Change 36.46% 36.46% 15.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $947.5K $947.5K $545.8K
YoY Change 73.58% 72.27% -56.38%
Accrued Expenses $1.980M $1.980M $1.890M
YoY Change 4.77% 4.77% 302.13%
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 $2.928M $2.928M $2.436M
YoY Change 20.19% 19.99% 41.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $40.00K
YoY Change -100.0% -100.0% -71.43%
Total Long-Term Liabilities $0.00 $0.00 $40.00K
YoY Change -100.0% -100.0% -71.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.928M $2.928M $2.436M
Total Long-Term Liabilities $0.00 $0.00 $40.00K
Total Liabilities $2.928M $2.928M $2.915M
YoY Change 0.42% 0.26% -26.68%
SHAREHOLDERS EQUITY
Retained Earnings -$130.0M -$105.9M
YoY Change 22.75% 15.47%
Common Stock $164.9M $130.7M
YoY Change 26.16% 16.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $34.91M $34.91M $24.81M
YoY Change
Total Liabilities & Shareholders Equity $37.84M $37.84M $27.73M
YoY Change 36.46% 36.46% 15.01%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$3.474M -$24.10M -$4.060M
YoY Change -14.42% 69.86% 8.27%
Depreciation, Depletion And Amortization $26.12K $93.42K $20.00K
YoY Change 30.6% -9.45% -33.33%
Cash From Operating Activities -$3.025M -$14.50M -$3.390M
YoY Change -10.75% 7.0% 38.93%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $4.000K $4.000K
YoY Change
Cash From Investing Activities $4.000K $4.000K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $31.09M
YoY Change 187.19%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 $33.30M 0.000
YoY Change 86.1% -100.0%
NET CHANGE
Cash From Operating Activities -3.025M -$14.50M -3.390M
Cash From Investing Activities 4.000K $4.000K
Cash From Financing Activities 0.000 $33.30M 0.000
Net Change In Cash -3.021M $18.80M -3.390M
YoY Change -10.87% 333.31% -142.22%
FREE CASH FLOW
Cash From Operating Activities -$3.025M -$14.50M -$3.390M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:9pt;"><b><em style="font: inherit;">1.</em> Organization and Description of Business</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">Diffusion Pharmaceuticals Inc. ("the Company"), a Delaware corporation, is a biopharmaceutical company developing novel therapies that enhance the body’s ability to deliver oxygen to areas where it is needed most. The Company’s lead product candidate, TSC, is being developed to enhance the diffusion of oxygen to tissues with low oxygen levels, also known as hypoxia, a serious complication of many of medicine’s most intractable and difficult-to-treat conditions. In <em style="font: inherit;"> November 2021, </em>based on the preclinical and clinical data accumulated to date and the significant unmet medical need, the Company announced that its near-term focus will be the design and execution of a clinical program to support the use of intravenously administered TSC as an adjunctive treatment for hypoxic solid tumors.</p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;"><b><i>Use of Estimates</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The preparation of financial statements in conformity with 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.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">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.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
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