$CRVO
CervoMed Inc.

2023 Q1 Form 10-K Financial Statement

#000143774923007795 Filed on March 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.958M $2.344M $8.735M
YoY Change 38.95% 21.16% 17.32%
% of Gross Profit
Research & Development $1.309M $1.904M $7.237M
YoY Change -46.06% 26.58% -14.85%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change -100.0% -100.0%
% of Gross Profit
Operating Expenses $1.309M $4.249M $7.237M
YoY Change -46.06% 22.6% -14.85%
Operating Profit -$4.266M -$15.97M
YoY Change -6.33% -35.28%
Interest Expense $173.9K $172.9K $380.8K
YoY Change 525.33% -2048.82% 176.94%
% of Operating Profit
Other Income/Expense, Net $892.0K -$2.328M
YoY Change
Pretax Income -$4.092M -$4.076M -$15.59M
YoY Change -9.59% 17.31% -36.46%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.092M -$4.076M -$15.59M
YoY Change -9.59% 17.31% -35.29%
Net Earnings / Revenue
Basic Earnings Per Share -$1.95 -$7.65
Diluted Earnings Per Share -$2.01 -$2.00 $2.039M
COMMON SHARES
Basic Shares Outstanding 2.040M 2.039M 518.1K
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.64M $22.52M $22.52M
YoY Change -45.82% -39.64% -39.64%
Cash & Equivalents $14.65M $10.11M $10.11M
Short-Term Investments $2.992M $12.41M $12.41M
Other Short-Term Assets $767.5K $112.4K $112.4K
YoY Change -24.86% -77.96% -77.96%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $18.40M $22.64M $22.64M
YoY Change -45.18% -40.16% -40.16%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $4.00 $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL ASSETS
Total Short-Term Assets $18.40M $22.64M $22.64M
Total Long-Term Assets $4.00 $0.00 $0.00
Total Assets $18.40M $22.64M $22.64M
YoY Change -45.18% -40.18% -40.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $971.5K $1.128M $1.128M
YoY Change 19.46% 19.03% 19.03%
Accrued Expenses $1.154M $1.290M $1.290M
YoY Change -46.12% -34.88% -34.88%
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 $2.126M $2.417M $2.417M
YoY Change -28.08% -17.43% -17.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.126M $2.417M $2.417M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.126M $2.417M $2.417M
YoY Change -28.08% -17.43% -17.43%
SHAREHOLDERS EQUITY
Retained Earnings -$149.7M -$145.6M
YoY Change 11.27% 11.99%
Common Stock $2.040K $2.040K
YoY Change -100.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.28M $20.22M $20.22M
YoY Change
Total Liabilities & Shareholders Equity $18.40M $22.64M $22.64M
YoY Change -45.18% -40.18% -40.18%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$4.092M -$4.076M -$15.59M
YoY Change -9.59% 17.31% -35.29%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Operating Activities -$4.968M -$3.473M -$14.97M
YoY Change 5.04% 14.8% 3.22%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $9.500M $7.000M -$12.24M
YoY Change -141.82% 174900.0% -305993.5%
Cash From Investing Activities $9.500M $7.000M -$12.24M
YoY Change -141.82% 174900.0% -305993.45%
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 $0.00 0.000 $5.000K
YoY Change -100.0% -99.98%
NET CHANGE
Cash From Operating Activities -$4.968M -3.473M -$14.97M
Cash From Investing Activities $9.500M 7.000M -$12.24M
Cash From Financing Activities $0.00 0.000 $5.000K
Net Change In Cash $4.532M 3.527M -$27.20M
YoY Change -116.51% -216.72% -244.7%
FREE CASH FLOW
Cash From Operating Activities -$4.968M -$3.473M -$14.97M
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:9pt;"><b>1. 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; text-align: justify; margin: 0pt; text-indent: 36pt;">Diffusion Pharmaceuticals Inc., a Delaware corporation, is a biopharmaceutical company historically focused on developing novel therapies that enhance the body’s ability to deliver oxygen to areas where it is needed most. The Company’s most advanced product candidate, TSC, has been investigated and 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, including GBM..</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 April 18, 2022, the Company effected a 1-for-50 reverse split of its common stock. Any references in the consolidated financial statements and related notes to share or per share amounts give retroactive effect to this reverse stock split.</p>
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<b><i>Use of Estimates</i></b>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.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.
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<b><i>Concentration of Credit Risk</i></b>Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash on deposit with multiple financial institutions, the balances of which frequently exceed federally insured limits.
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Files In Submission

Name View Source Status
dffn-20221231_def.xml Edgar Link unprocessable
dffn-20221231_cal.xml Edgar Link unprocessable
0001437749-23-007795-index-headers.html Edgar Link pending
0001437749-23-007795-index.html Edgar Link pending
0001437749-23-007795.txt Edgar Link pending
0001437749-23-007795-xbrl.zip Edgar Link pending
d01.jpg Edgar Link pending
dffn-20221231.xsd Edgar Link pending
dffn20221231_10k.htm Edgar Link pending
ex_482211.htm Edgar Link pending
ex_482212.htm Edgar Link pending
ex_482213.htm Edgar Link pending
ex_488532.htm Edgar Link pending
ex_488533.htm Edgar Link pending
ex_489418.htm Edgar Link pending
ex_489419.htm Edgar Link pending
ex_489420.htm Edgar Link pending
ex_492494.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
image01.jpg Edgar Link pending
image03.jpg Edgar Link pending
image04.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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dffn-20221231_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
dffn20221231_10k_htm.xml Edgar Link completed
R37.htm Edgar Link pending
R38.htm Edgar Link pending
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R4.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
dffn-20221231_pre.xml Edgar Link unprocessable