$CYTH
Cyclo Therapeutics, Inc.

2023 Q3 Form 10-Q Financial Statement

#000143774923023654 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $495.5K $117.1K
YoY Change 9.58% -78.39%
Cost Of Revenue $39.61K $26.97K
YoY Change 12.5% -65.13%
Gross Profit $455.9K $90.15K
YoY Change 9.33% -80.59%
Gross Profit Margin 92.01% 76.97%
Selling, General & Admin $1.749M $1.548M
YoY Change -3.03% -24.17%
% of Gross Profit 383.76% 1717.22%
Research & Development $3.469M $3.170M
YoY Change 21.46% 69.13%
% of Gross Profit 760.98% 3516.58%
Depreciation & Amortization $4.460K $4.820K
YoY Change -13.06% 1.69%
% of Gross Profit 0.98% 5.35%
Operating Expenses $3.469M $3.170M
YoY Change 21.46% 69.13%
Operating Profit -$4.767M -$4.633M
YoY Change 12.22% 34.05%
Interest Expense -$3.890K -$3.510K
YoY Change -340.12% -187.1%
% of Operating Profit
Other Income/Expense, Net -$3.893K -$3.513K
YoY Change -340.31% -187.08%
Pretax Income -$4.771M -$4.636M
YoY Change 12.35% 34.31%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.771M -$4.636M
YoY Change 12.35% 34.31%
Net Earnings / Revenue -962.98% -3958.79%
Basic Earnings Per Share -$0.29 -$0.33
Diluted Earnings Per Share -$0.29 -$0.33
COMMON SHARES
Basic Shares Outstanding 19.31M 15.17M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.802M $841.5K
YoY Change -58.0% -88.71%
Cash & Equivalents $1.802M $841.5K
Short-Term Investments
Other Short-Term Assets $3.196M $3.381M
YoY Change -7.78% -6.7%
Inventory $209.8K $236.6K
Prepaid Expenses
Receivables $303.8K $88.39K
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.512M $4.548M
YoY Change -34.56% -61.38%
LONG-TERM ASSETS
Property, Plant & Equipment $40.73K $45.55K
YoY Change -32.18% -16.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $85.55K $94.70K
YoY Change 30.16% 46.18%
TOTAL ASSETS
Total Short-Term Assets $5.512M $4.548M
Total Long-Term Assets $85.55K $94.70K
Total Assets $5.597M $4.643M
YoY Change -34.06% -60.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.605M $6.078M
YoY Change 130.11% 190.54%
Accrued Expenses $17.97K $17.47K
YoY Change 260.84% 78.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.622M $6.096M
YoY Change 130.34% 190.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $27.26K $31.94K
YoY Change
Total Long-Term Liabilities $27.26K $31.94K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.622M $6.096M
Total Long-Term Liabilities $27.26K $31.94K
Total Liabilities $6.650M $6.128M
YoY Change 131.29% 191.54%
SHAREHOLDERS EQUITY
Retained Earnings -$78.21M -$73.44M
YoY Change 32.97% 34.58%
Common Stock $1.937K $1.531K
YoY Change 128.96% 81.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.053M -$1.485M
YoY Change
Total Liabilities & Shareholders Equity $5.597M $4.643M
YoY Change -34.06% -60.79%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$4.771M -$4.636M
YoY Change 12.35% 34.31%
Depreciation, Depletion And Amortization $4.460K $4.820K
YoY Change -13.06% 1.69%
Cash From Operating Activities -$4.040M -$3.479M
YoY Change 26.99% -20.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.999M 3.405M
YoY Change
NET CHANGE
Cash From Operating Activities -4.040M -3.479M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 4.999M 3.405M
Net Change In Cash 958.4K -73.65K
YoY Change -130.3% -98.31%
FREE CASH FLOW
Cash From Operating Activities -$4.040M -$3.479M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$4.040M -$3.479M
YoY Change 27.41% -20.14%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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143971 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1728 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1882 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2597428 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1586011 usd
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
1794595 usd
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-2962411 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7848945 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9185992 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
-0 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4600 usd
us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
-0 usd
us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
-24494 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
19894 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
2917581 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4229308 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
168 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 usd
ctdh Proceeds From Issuance Repayments Of Longterm Debt
ProceedsFromIssuanceRepaymentsOfLongtermDebt
0 usd
ctdh Proceeds From Issuance Repayments Of Longterm Debt
ProceedsFromIssuanceRepaymentsOfLongtermDebt
-8159 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7147057 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6778 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-701888 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9159320 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1543418 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
16612711 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
841530 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7453391 usd
us-gaap Interest Paid Net
InterestPaidNet
5466 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10300 usd
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
52900 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">(q) USE OF ESTIMATES––The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions, including regarding contingencies, that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. The Company’s most significant estimates relate to inventory obsolescence, stock-based compensation and warrant liability valuation. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could significantly differ from these estimates.</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;"></p>
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-4636455 usd
us-gaap Net Income Loss
NetIncomeLoss
-9643540 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-73442919 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7848945 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
841530 usd
CY2023Q2 ctdh Working Capital Deficit
WorkingCapitalDeficit
1548000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 pure
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
117118 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
541886 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
269529 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
736790 usd
CY2023Q2 ctdh Operating Lease Right Of Usse Asset Amortization
OperatingLeaseRightOfUsseAssetAmortization
8502 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
5612 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
15147 usd
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
7397 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
14874 usd
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
20000000
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
321631
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-4636455 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-3451990 usd
us-gaap Net Income Loss
NetIncomeLoss
-9643540 usd
us-gaap Net Income Loss
NetIncomeLoss
-6223581 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14042214
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.74
CY2023Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
980000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-438876 usd
CY2023Q2 ctdh Nasdaq Listing Rule Minimum Requirement For Stockholders Equity
NasdaqListingRuleMinimumRequirementForStockholdersEquity
2500000 usd

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0001437749-23-023654.txt Edgar Link pending
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ctdh-20230630.xsd Edgar Link pending
ctdh-20230630_cal.xml Edgar Link unprocessable
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ctdh20230630_10q.htm Edgar Link pending
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