2019 Q4 Form 10-Q Financial Statement

#000156459019043527 Filed on November 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2019 Q1
Revenue $520.0K $380.0K $270.0K
YoY Change -49.02% -53.88% -61.43%
Cost Of Revenue $280.0K $170.0K $96.00K
YoY Change -31.71% -27.04% -34.69%
Gross Profit $240.0K $208.0K $174.0K
YoY Change -60.66% -64.81% -68.65%
Gross Profit Margin 46.15% 54.74% 64.44%
Selling, General & Admin $2.080M $4.002M $2.549M
YoY Change -17.79% 75.6% 7.73%
% of Gross Profit 866.67% 1924.04% 1464.94%
Research & Development $2.700M $1.780M $3.300M
YoY Change -53.13% -56.65% -42.02%
% of Gross Profit 1125.0% 855.77% 1896.55%
Depreciation & Amortization $40.00K $100.0K $65.00K
YoY Change -60.0% 0.0% -45.83%
% of Gross Profit 16.67% 48.08% 37.36%
Operating Expenses $4.780M $5.780M $2.549M
YoY Change -42.41% -9.48% -68.37%
Operating Profit -$4.540M -$5.572M -$2.375M
YoY Change -40.96% -3.83% -68.35%
Interest Expense $17.03M -$1.950M -$2.229M
YoY Change -622.39% -38.11% 111350.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $4.000K $2.000K
YoY Change -100.0% -140.0% -140.0%
Pretax Income $12.49M -$7.520M -$7.890M
YoY Change -214.9% -15.32% -209.74%
Income Tax
% Of Pretax Income
Net Earnings $12.49M -$7.520M -$7.894M
YoY Change -214.9% -15.32% -209.87%
Net Earnings / Revenue 2401.92% -1978.95% -2923.7%
Basic Earnings Per Share -$0.41 -$75.11
Diluted Earnings Per Share $416.3M -$1.41 -$0.11
COMMON SHARES
Basic Shares Outstanding 21.98M 18.28M 73.56M
Diluted Shares Outstanding 18.28M 105.1K

Balance Sheet

Concept 2019 Q4 2019 Q3 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00M $15.33M $260.0K
YoY Change 296.83% 72.05% -87.19%
Cash & Equivalents $10.00M $15.52M $1.326M
Short-Term Investments
Other Short-Term Assets $1.940M $1.040M $2.060M
YoY Change 40.58% -27.78% 27.95%
Inventory $654.0K $740.0K $780.0K
Prepaid Expenses
Receivables $21.00K $10.00K $60.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $12.62M $17.13M $3.166M
YoY Change 113.16% 44.92% -39.46%
LONG-TERM ASSETS
Property, Plant & Equipment $735.0K $1.770M $3.000M
YoY Change -20.54% 75.25% 152.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $1.595M $1.765M $2.994M
YoY Change 72.43% 74.75% 151.6%
TOTAL ASSETS
Total Short-Term Assets $12.62M $17.13M $3.166M
Total Long-Term Assets $1.595M $1.765M $2.994M
Total Assets $14.21M $18.90M $6.160M
YoY Change 107.66% 47.27% -4.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.533M $4.871M $10.27M
YoY Change -41.24% -28.16% 124.24%
Accrued Expenses $6.947M $6.537M $9.380M
YoY Change -12.77% 96.31% 388.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $5.390M
YoY Change
Long-Term Debt Due $0.00 $0.00 $370.0K
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $15.99M $32.47M $25.44M
YoY Change -9.89% 90.44% 107.25%
LONG-TERM LIABILITIES
Long-Term Debt $2.000M $2.000M $0.00
YoY Change 1566.67%
Other Long-Term Liabilities $0.00 $3.250M $166.0K
YoY Change -100.0% 513.21% -51.88%
Total Long-Term Liabilities $0.00 $5.250M $166.0K
YoY Change -100.0% 707.69% -51.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.99M $32.47M $25.44M
Total Long-Term Liabilities $0.00 $5.250M $166.0K
Total Liabilities $20.57M $37.72M $29.94M
YoY Change -5.57% 113.11% 137.25%
SHAREHOLDERS EQUITY
Retained Earnings -$371.2M -$383.7M -$351.9M
YoY Change 7.88% 10.8%
Common Stock $1.000K $183.0K $144.0K
YoY Change 1500.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$6.357M -$18.83M -$23.78M
YoY Change
Total Liabilities & Shareholders Equity $14.21M $18.90M $6.160M
YoY Change 107.66% 47.27% -4.02%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2019 Q1
OPERATING ACTIVITIES
Net Income $12.49M -$7.520M -$7.894M
YoY Change -214.9% -15.32% -209.87%
Depreciation, Depletion And Amortization $40.00K $100.0K $65.00K
YoY Change -60.0% 0.0% -45.83%
Cash From Operating Activities -$5.370M -$12.36M -$2.770M
YoY Change 191.85% 242.38% -57.01%
INVESTING ACTIVITIES
Capital Expenditures -$20.00K $0.00 $2.000K
YoY Change 0.0% -100.0% -66.67%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$20.00K $0.00 -$2.000K
YoY Change 0.0% -100.0% -66.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.00K 26.46M 550.0K
YoY Change -99.53% 143.42% -87.07%
NET CHANGE
Cash From Operating Activities -5.370M -12.36M -2.770M
Cash From Investing Activities -20.00K 0.000 -2.000K
Cash From Financing Activities -20.00K 26.46M 550.0K
Net Change In Cash -5.410M 14.10M -2.252M
YoY Change -11.89% 94.75% 1.99%
FREE CASH FLOW
Cash From Operating Activities -$5.370M -$12.36M -$2.770M
Capital Expenditures -$20.00K $0.00 $2.000K
Free Cash Flow -$5.350M -$12.36M -$2.772M
YoY Change 193.96% 244.29% -57.02%

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dcth Proceeds From Sale Of Common Stock And Warrants
ProceedsFromSaleOfCommonStockAndWarrants
0
dcth Proceeds From Sale Of Common Stock And Warrants
ProceedsFromSaleOfCommonStockAndWarrants
11797000
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
5727000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
30330000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-69000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11937000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3578000
dcth Non Cash Activities Fair Value Of Warrants Issued
NonCashActivitiesFairValueOfWarrantsIssued
20844000
dcth Non Cash Activities Fair Value Of Warrants Issued
NonCashActivitiesFairValueOfWarrantsIssued
28539000
CY2019Q3 dcth Letters Of Credit Restricted Cash
LettersOfCreditRestrictedCash
131000
CY2018Q4 dcth Letters Of Credit Restricted Cash
LettersOfCreditRestrictedCash
1012000
CY2019Q3 dcth Security For Credit Cards Restricted Cash
SecurityForCreditCardsRestrictedCash
50000
CY2018Q4 dcth Security For Credit Cards Restricted Cash
SecurityForCreditCardsRestrictedCash
50000
CY2019Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
351000
CY2018Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
358000
CY2019Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
350000
CY2018Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
500000
CY2019Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
35000
CY2019Q3 dcth Prepaid Clinical Trial Expenses Current
PrepaidClinicalTrialExpensesCurrent
500000
CY2019Q3 us-gaap Prepaid Insurance
PrepaidInsurance
54000
CY2018Q4 us-gaap Prepaid Insurance
PrepaidInsurance
140000
CY2019Q3 us-gaap Security Deposit
SecurityDeposit
50000
CY2018Q4 us-gaap Security Deposit
SecurityDeposit
51000
CY2019Q3 dcth Income Tax And Value Added Tax Receivable Current
IncomeTaxAndValueAddedTaxReceivableCurrent
33000
CY2018Q4 dcth Income Tax And Value Added Tax Receivable Current
IncomeTaxAndValueAddedTaxReceivableCurrent
579000
CY2019Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
227000
CY2018Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
128000
CY2019Q3 dcth Maximum Percentage Of Prepaid Expenses And Other Current Assets
MaximumPercentageOfPrepaidExpensesAndOtherCurrentAssets
0.05
CY2018Q4 dcth Maximum Percentage Of Prepaid Expenses And Other Current Assets
MaximumPercentageOfPrepaidExpensesAndOtherCurrentAssets
0.05
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5214000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5232000
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4458000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4307000
CY2019Q3 us-gaap Depreciation
Depreciation
100000
CY2018Q3 us-gaap Depreciation
Depreciation
100000
CY2019Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3274000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1785000
CY2019Q3 dcth Accrued Clinical Trial Expenses Current
AccruedClinicalTrialExpensesCurrent
2590000
CY2018Q4 dcth Accrued Clinical Trial Expenses Current
AccruedClinicalTrialExpensesCurrent
4530000
CY2019Q3 us-gaap Interest Payable Current
InterestPayableCurrent
33000
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
402000
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
640000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1247000
CY2019Q3 dcth Maximum Percentage Of Current Liabilities Accrued
MaximumPercentageOfCurrentLiabilitiesAccrued
0.05
CY2018Q4 dcth Maximum Percentage Of Current Liabilities Accrued
MaximumPercentageOfCurrentLiabilitiesAccrued
0.05
CY2019Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12M
us-gaap Operating Lease Cost
OperatingLeaseCost
752000
dcth Financing Lease Cost
FinancingLeaseCost
32000
us-gaap Sublease Income
SubleaseIncome
348000
us-gaap Lease Cost
LeaseCost
436000
us-gaap Operating Lease Payments
OperatingLeasePayments
794000
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
348000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
874000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
100000
dcth Finance Lease Principal Payment On Liability
FinanceLeasePrincipalPaymentOnLiability
35000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
180000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
701000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
198000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1079000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
67000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1012000
CY2018Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
4500000
CY2018Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2500000
CY2018Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1250000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1150000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
766663
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.28
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.28
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.28
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.28
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P9Y4M24D
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
100000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3M18D
CY2019Q3 dcth Share Based Compensation Income Expense
ShareBasedCompensationIncomeExpense
70000
dcth Share Based Compensation Income Expense
ShareBasedCompensationIncomeExpense
203000
CY2018Q3 dcth Share Based Compensation Income Expense
ShareBasedCompensationIncomeExpense
116000
dcth Share Based Compensation Income Expense
ShareBasedCompensationIncomeExpense
-5000
CY2018Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
65685269
dcth Class Of Warrant Or Right Issued
ClassOfWarrantOrRightIssued
701373564
dcth Class Of Warrant Or Right Exercises In Period
ClassOfWarrantOrRightExercisesInPeriod
7898853
dcth Stock Issued During Period Shares Exchange Of Warrants For Common Stock
StockIssuedDuringPeriodSharesExchangeOfWarrantsForCommonStock
57786387
CY2019Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
701373593
CY2018Q4 dcth Class Of Warrant Or Right Weighted Average Exercise Price
ClassOfWarrantOrRightWeightedAverageExercisePrice
0.22
dcth Class Of Warrant Or Right Weighted Average Exercise Price Issued
ClassOfWarrantOrRightWeightedAverageExercisePriceIssued
0.06
dcth Class Of Warrant Or Right Weighted Average Exercise Price Exercises In Period
ClassOfWarrantOrRightWeightedAverageExercisePriceExercisesInPeriod
0.01
dcth Class Of Warrant Or Right Weighted Average Exercise Price Exchanged
ClassOfWarrantOrRightWeightedAverageExercisePriceExchanged
0.24
CY2019Q3 dcth Class Of Warrant Or Right Weighted Average Exercise Price
ClassOfWarrantOrRightWeightedAverageExercisePrice
0.06
CY2018 dcth Class Of Warrant Or Right Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightWeightedAverageRemainingContractualTerm
P5Y9M
dcth Class Of Warrant Or Right Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightWeightedAverageRemainingContractualTerm
P5Y18D
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
33000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
456000
dcth Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Reclassified From Liability To Equity
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisReclassifiedFromLiabilityToEquity
11000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
20844000
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
20410000
CY2019Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
18238000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
18238000
CY2018Q3 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
-13000
us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
-534000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-25757000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8893000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-39609000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8887000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1426119391
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10842238
CY2018Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
2100000
CY2019Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01

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