$DARE
Dare Bioscience, Inc.

2017 Form 10-K Financial Statement

#000156459018006989 Filed on March 28, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q4 2016
Revenue $0.00 $766.0K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.700M $190.0K $560.0K
YoY Change 382.14% -93.38% -95.01%
% of Gross Profit
Research & Development $984.7K $3.184M $27.57M
YoY Change -96.43% -55.51% 6.22%
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit
Operating Expenses $11.18M $5.274M $630.6K
YoY Change 1673.02% -47.41% -98.3%
Operating Profit -$11.18M
YoY Change
Interest Expense -$320.0K $457.0K $42.10K
YoY Change -860.17% -33.67% -98.27%
% of Operating Profit
Other Income/Expense, Net -$322.6K -$437.0K
YoY Change -36.39%
Pretax Income -$11.50M -$200.0K -$673.0K
YoY Change 1609.21% -98.13% -98.3%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$11.50M -$4.945M -$672.7K
YoY Change 1610.03% -53.85% -98.3%
Net Earnings / Revenue -645.56%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.560M -$227.3K -$797.6K
COMMON SHARES
Basic Shares Outstanding 3.232M 27.44M 835.0K
Diluted Shares Outstanding 3.232M 835.0K

Balance Sheet

Concept 2017 2016 Q4 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.560M $40.00K $40.00K
YoY Change 18800.0% -99.95% -99.95%
Cash & Equivalents $7.560M $44.61K $40.00K
Short-Term Investments
Other Short-Term Assets $500.0K
YoY Change
Inventory
Prepaid Expenses
Receivables $823.0K
Other Receivables
Total Short-Term Assets $8.350M $36.79M $40.00K
YoY Change 20775.0% -52.41% -99.95%
LONG-TERM ASSETS
Property, Plant & Equipment $668.0K
YoY Change 15.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $720.0K $12.68K
YoY Change -96.35%
Total Long-Term Assets $5.910M $898.0K $0.00
YoY Change -2.71% -100.0%
TOTAL ASSETS
Total Short-Term Assets $8.350M $36.79M $40.00K
Total Long-Term Assets $5.910M $898.0K $0.00
Total Assets $14.26M $37.69M $40.00K
YoY Change 35550.0% -51.82% -99.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $970.0K $1.446M $10.00K
YoY Change 9600.0% -35.04% -99.55%
Accrued Expenses $0.00 $4.611M $50.00K
YoY Change -100.0% -28.61% -99.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $700.0K $700.0K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $970.0K $755.2K $760.0K
YoY Change 27.63% -95.38% -95.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $0.00 $1.206M $0.00
YoY Change 154.97% -100.0%
Total Long-Term Liabilities $0.00 $7.638M $0.00
YoY Change -41.89% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $970.0K $755.2K $760.0K
Total Long-Term Liabilities $0.00 $7.638M $0.00
Total Liabilities $970.0K $755.2K $760.0K
YoY Change 27.63% -97.44% -97.42%
SHAREHOLDERS EQUITY
Retained Earnings -$727.8K
YoY Change -99.55%
Common Stock $17.21K
YoY Change -99.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.29M -$710.6K -$710.0K
YoY Change
Total Liabilities & Shareholders Equity $14.26M $44.61K $40.00K
YoY Change 35550.0% -99.94% -99.95%

Cashflow Statement

Concept 2017 2016 Q4 2016
OPERATING ACTIVITIES
Net Income -$11.50M -$4.945M -$672.7K
YoY Change 1610.03% -53.85% -98.3%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$2.540M -$160.0K -$370.0K
YoY Change 586.52% -98.05% -98.84%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $535.0K
YoY Change -100.0% 93.14%
Acquisitions
YoY Change
Other Investing Activities $9.920M $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $9.918M $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $918.0K
YoY Change -65.07%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $155.0K 200.0K 200.0K
YoY Change -22.5% -96.97% -99.65%
NET CHANGE
Cash From Operating Activities -$2.540M -160.0K -370.0K
Cash From Investing Activities $9.918M 0.000 0.000
Cash From Financing Activities $155.0K 200.0K 200.0K
Net Change In Cash $7.533M 40.00K -170.0K
YoY Change -4531.36% -102.33% -100.69%
FREE CASH FLOW
Cash From Operating Activities -$2.540M -$160.0K -$370.0K
Capital Expenditures $0.00 $535.0K
Free Cash Flow -$2.540M -$905.0K
YoY Change 180.68% -97.19%

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30476
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
539896
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
526338
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
539896
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.01
CY2017 dare Weighted Average Amortization Period
WeightedAverageAmortizationPeriod
P2Y1M6D
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.01
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
32.90
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
54.25
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.40
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
32.10
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
31.40
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y10M24D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
21861
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
14574
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
21861
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y4M24D
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0185
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.72
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.46
CY2017 dare Number Of Common Stock Warrants Exercised
NumberOfCommonStockWarrantsExercised
0
CY2017Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
30502
CY2017 dare Operating Lease Agreement Effective Date
OperatingLeaseAgreementEffectiveDate
2017-01-01
CY2017Q1 dare Period Of Notice At Time Termination Of Contract
PeriodOfNoticeAtTimeTerminationOfContract
P30D
CY2017Q3 dare Sublease Agreement Monthly Fee
SubleaseAgreementMonthlyFee
5651
CY2017Q3 dare Percentage Of Increase In Monthly Fee
PercentageOfIncreaseInMonthlyFee
0.03
CY2017Q3 dare Sub Lease Agreement Effective Date
SubLeaseAgreementEffectiveDate
2017-08-01
CY2017Q3 dare Sub Lease Expiration Date
SubLeaseExpirationDate
2019-06-30
CY2017Q3 dare Period Of Notice At Time Termination Of Sub Lease Contract
PeriodOfNoticeAtTimeTerminationOfSubLeaseContract
P30D
CY2017 dare Employment Agreements Description
EmploymentAgreementsDescription
Certain executive officers are entitled to payments if they are terminated without cause or as a result of a change in control of the Company. Upon termination without cause, and not as a result of death or disability, each officer is entitled to receive a payment of an amount equal to six to twelve months of base salary and to receive continuing health benefits coverage for periods ranging between six to twelve months following the termination of employment or until such officer is covered under a separate plan from another employer. Upon termination other than for cause or for good reason within three months prior to or twelve months following a change in control of the Company, each officer will be entitled to receive a payment of an amount equal to nine to eighteen months of base salary and target bonus and to receive continuing health benefits coverage for periods ranging between nine to eighteen months following the termination of employment. In addition, upon a change in control of the Company, each officer’s outstanding unvested options will fully vest and accelerate subject to the conditions outlined in such officer’s employment agreement.

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