2024 Q3 Form 10-K Financial Statement

#000155837024012328 Filed on August 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.604M $3.033M $10.79M
YoY Change -40.33% 8.75% -37.04%
% of Gross Profit
Research & Development $3.597M $7.240M
YoY Change 266.67% 175.08%
% of Gross Profit
Depreciation & Amortization $5.000K $4.000K $29.00K
YoY Change -50.0% -60.0% -83.43%
% of Gross Profit
Operating Expenses -$22.44M $6.634M $7.240M
YoY Change -1272.26% 75.5% 175.08%
Operating Profit $22.44M -$18.06M
YoY Change -586.49% -55.5%
Interest Expense -$2.016M -$537.0K -$6.543M
YoY Change 2.91% -95.24% -74.08%
% of Operating Profit -8.99%
Other Income/Expense, Net -$14.00K -$1.595M -$5.186M
YoY Change -98.46% 71.88% -40.32%
Pretax Income $19.23M -$16.79M -$49.80M
YoY Change -266.17% -9.92% -37.61%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $19.23M -$17.16M -$49.84M
YoY Change -266.17% -7.92% -37.56%
Net Earnings / Revenue
Basic Earnings Per Share $0.02 -$0.05
Diluted Earnings Per Share $0.02 -$0.02 -$0.05
COMMON SHARES
Basic Shares Outstanding 1.215B 969.5M
Diluted Shares Outstanding 1.198B 969.5M

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.92M $3.110M $3.110M
YoY Change 1125.22% 22.39% 22.39%
Cash & Equivalents $24.92M $3.110M
Short-Term Investments
Other Short-Term Assets $817.0K $7.705M $7.705M
YoY Change -91.78% -6.76% -6.76%
Inventory $0.00
Prepaid Expenses $570.0K $463.0K
Receivables
Other Receivables
Total Short-Term Assets $27.74M $10.82M $10.82M
YoY Change 131.77% 0.09% 0.09%
LONG-TERM ASSETS
Property, Plant & Equipment $230.0K $264.0K $264.0K
YoY Change -37.16% -34.0% -34.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $283.0K $321.0K $57.00K
YoY Change -36.12% -34.09% -34.48%
Total Long-Term Assets $283.0K $321.0K $321.0K
YoY Change -36.12% -34.09% -34.09%
TOTAL ASSETS
Total Short-Term Assets $27.74M $10.82M $10.82M
Total Long-Term Assets $283.0K $321.0K $321.0K
Total Assets $28.02M $11.14M $11.14M
YoY Change 125.78% -1.38% -1.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.16M $29.56M $29.56M
YoY Change -77.45% -52.85% -52.87%
Accrued Expenses $26.48M $24.83M $24.83M
YoY Change 0.95% 9.98% 9.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $28.92M $29.79M $29.79M
YoY Change -12.63% -13.44% -13.44%
Total Short-Term Liabilities $69.56M $84.18M $84.18M
YoY Change -46.1% -29.73% -29.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $43.57M $43.57M $43.71M
YoY Change 17540.08% 15296.11% 15345.94%
Total Long-Term Liabilities $43.57M $43.57M $43.71M
YoY Change 17540.08% 4270.21% 4284.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $69.56M $84.18M $84.18M
Total Long-Term Liabilities $43.57M $43.57M $43.71M
Total Liabilities $113.2M $127.9M $127.9M
YoY Change -12.43% 5.88% 5.88%
SHAREHOLDERS EQUITY
Retained Earnings -$872.3M -$891.5M
YoY Change 2.23% 5.92%
Common Stock $1.220M $1.059M
YoY Change 31.04% 15.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$85.21M -$116.8M -$116.8M
YoY Change
Total Liabilities & Shareholders Equity $28.02M $11.14M $11.14M
YoY Change 125.78% -1.38% -1.38%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income $19.23M -$17.16M -$49.84M
YoY Change -266.17% -7.92% -37.56%
Depreciation, Depletion And Amortization $5.000K $4.000K $29.00K
YoY Change -50.0% -60.0% -83.43%
Cash From Operating Activities $5.440M -$1.650M -$10.98M
YoY Change -221.02% -51.64% -56.26%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.667M 3.441M 11.75M
YoY Change 140.53% 154.89% -60.74%
NET CHANGE
Cash From Operating Activities 5.440M -1.650M -10.98M
Cash From Investing Activities
Cash From Financing Activities 9.667M 3.441M 11.75M
Net Change In Cash 15.11M 1.791M 766.0K
YoY Change -3273.74% -186.86% -84.1%
FREE CASH FLOW
Cash From Operating Activities $5.440M -$1.650M -$10.98M
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 6pt 0pt;"><i style="font-style:italic;font-weight:normal;">Use of Estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">The preparation of the consolidated financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP” or “GAAP”) requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, and the disclosure of contingent assets and liabilities at the date of consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Estimates are assessed each period and updated to reflect current information, such as the status of our analysis of the </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;">results of our clinical trials and/or discussions with the FDA, which could have an impact on the Company’s significant accounting estimates and assumptions. The Company’s estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Significant estimates include, but are not limited to, those relating to stock-based compensation, the assumptions used to value warrants and warrant modifications. Actual results could differ from these estimates.<span style="white-space:pre-wrap;"> </span></p>
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