2021 Q1 Form 10-K Financial Statement

#000143774921007644 Filed on March 30, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 2019 Q4
Revenue $460.5M $1.602M $430.0K
YoY Change 145924.38% -4.71% -37.68%
Cost Of Revenue $390.8M $1.425M $420.0K
YoY Change 140369.91% -2.38% -17.65%
Gross Profit $69.76M $177.0K $10.00K
YoY Change 187471.93% -20.05% -94.44%
Gross Profit Margin 15.15% 11.05% 2.33%
Selling, General & Admin $1.550M $6.080M $1.160M
YoY Change -6.06% 10.14% -9.38%
% of Gross Profit 2.22% 3435.22% 11600.0%
Research & Development $1.808B $3.868M $780.0K
YoY Change 239239.58% 25.28% 21.88%
% of Gross Profit 2591.96% 2185.5% 7800.0%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.808B $3.868M $1.950M
YoY Change 239239.58% 25.28% 1.56%
Operating Profit -$3.321B -$10.03M -$1.940M
YoY Change 139274.12% 8.01% 11.49%
Interest Expense $25.67M $447.0K $210.0K
YoY Change 15145.01% -54.62% -8.7%
% of Operating Profit
Other Income/Expense, Net $25.67M $731.7K
YoY Change
Pretax Income -$3.290M -$9.246M -$1.730M
YoY Change 48.87% 11.74% 13.82%
Income Tax $31.32K $10.00K
% Of Pretax Income
Net Earnings -$3.295M -$9.325M -$1.740M
YoY Change 48.81% 12.24% 241.18%
Net Earnings / Revenue -0.72% -582.13% -404.65%
Basic Earnings Per Share -$0.12
Diluted Earnings Per Share -$119.5K -$339.6K -$63.76K
COMMON SHARES
Basic Shares Outstanding 27.55M 27.21M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.23M $29.09M $34.22M
YoY Change -12.95% -14.99% -16.94%
Cash & Equivalents $13.06M $20.64M $4.824M
Short-Term Investments $14.18M $8.460M $29.40M
Other Short-Term Assets $220.0K $280.0K $100.0K
YoY Change -24.14% 180.0% -76.74%
Inventory
Prepaid Expenses
Receivables $385.0K $290.0K $558.5K
Other Receivables $160.0K $120.0K $750.0K
Total Short-Term Assets $27.99M $29.78M $35.64M
YoY Change -14.71% -16.44% -16.63%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $280.0K $280.0K $1.510M
YoY Change -88.89% -81.46%
Other Assets $6.151K $10.00K $51.31K
YoY Change -87.82% -80.0% -1.58%
Total Long-Term Assets $290.9K $290.0K $1.813M
YoY Change -88.68% -83.98% 228.04%
TOTAL ASSETS
Total Short-Term Assets $27.99M $29.78M $35.64M
Total Long-Term Assets $290.9K $290.0K $1.813M
Total Assets $28.28M $30.07M $37.45M
YoY Change -20.08% -19.71% -13.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.474M $943.4K
YoY Change 125.57% 205.24%
Accrued Expenses $277.7K $490.0K $566.0K
YoY Change 15.69% -14.04% 41.65%
Deferred Revenue $842.2K $78.64K
YoY Change 247.4% -44.22%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.594M $1.630M $1.588M
YoY Change 128.36% 2.52% 86.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.594M $1.630M $1.588M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.590M $1.630M $1.590M
YoY Change 127.19% 2.52% 87.06%
SHAREHOLDERS EQUITY
Retained Earnings -$53.97M -$41.35M
YoY Change 23.89% 25.14%
Common Stock $39.81K $39.61K
YoY Change 0.24% 1.66%
Preferred Stock
YoY Change
Treasury Stock (at cost) $18.90M $18.93M
YoY Change 0.0% 0.16%
Treasury Stock Shares
Shareholders Equity $25.69M $28.45M $35.86M
YoY Change
Total Liabilities & Shareholders Equity $28.28M $30.07M $37.45M
YoY Change -20.08% -19.71% -13.51%

Cashflow Statement

Concept 2021 Q1 2020 2019 Q4
OPERATING ACTIVITIES
Net Income -$3.295M -$9.325M -$1.740M
YoY Change 48.81% 12.24% 241.18%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.907B -$6.574M -$1.400M
YoY Change 95400.18% 13.69% 13.82%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$5.780M $22.12M $1.340M
YoY Change -440.0% 186.9% -29.84%
Cash From Investing Activities -$5.784B $22.12M $1.340M
YoY Change -340809.76% 187.02% -29.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $115.8M $255.5K 220.0K
YoY Change 66071.43% -53.57%
NET CHANGE
Cash From Operating Activities -$1.907B -$6.574M -1.400M
Cash From Investing Activities -$5.784B $22.12M 1.340M
Cash From Financing Activities $115.8M $255.5K 220.0K
Net Change In Cash -$7.581B $15.81M 160.0K
YoY Change 5983095.88% 548.83% -76.47%
FREE CASH FLOW
Cash From Operating Activities -$1.907B -$6.574M -$1.400M
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:18pt;"><b><i>Use of Estimates </i></b></p> <p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The preparation of these consolidated financial statements in accordance with GAAP requires management to make estimates and judgments that affect the reported amount of assets and liabilities and related disclosure of contingent assets and liabilities at the date of our consolidated financial statements and the reported amounts of revenues and expenses during the applicable period. Actual results <em style="font: inherit;"> may </em>differ from these estimates under different assumptions or conditions. Such differences could be material to the consolidated financial statements.</p> <p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:18pt;"><b><i>Concentrations and Credit Risk</i></b></p> <p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The Company’s financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash and cash equivalents, investment securities, and accounts receivable. At times, the Company has cash, cash equivalents, and investment securities at financial institutions exceeding the Federal Depository Insurance Company (“FDIC”) and the Securities Investor Protection Corporation (“SIPC”) insured limit on domestic currency and the Netherlands FDIC counterpart for foreign currency. The Company only deals with reputable financial institutions and has <em style="font: inherit;">not</em> experienced any losses in such accounts.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify; text-indent: 36pt;">For the years ended <em style="font: inherit;"> December 31, 2020 </em>and <em style="font: inherit;">2019</em>, the Company’s revenue was generated from <span style="-sec-ix-hidden:c71724213">fourteen</span> and <span style="-sec-ix-hidden:c71724214">ten</span> customers, respectively. At <em style="font: inherit;"> December 31, 2020 </em>and <em style="font: inherit;">2019</em>, the Company’s accounts receivable was from <span style="-sec-ix-hidden:c71724216">nine</span> and <span style="-sec-ix-hidden:c71724217">five</span> customers, respectively. The loss of business from <em style="font: inherit;">one</em> or a combination of the Company’s customers could adversely affect its operations.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"> </p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The Company conducts operations in the Netherlands through its foreign subsidiary and generates a portion of its revenues from customers that are located outside of the United States. As of and for the year ended <em style="font: inherit;"> December 31, 2020</em>, the Company had <span style="-sec-ix-hidden:c71724219">seven</span> customers outside of the United Sates (i.e. European and Asian customers) that accounted for approximately 49.7% or $796,000 of total revenue and approximately 41.6% or $123,000 of accounts receivable. As of and for the year ended <em style="font: inherit;"> December 31, 2019</em>, the Company only had <span style="-sec-ix-hidden:c71724224">four</span> customers outside of the United Sates (i.e. European and Asian customers) that accounted for approximately 71.5% or $1,202,000 of total revenue and approximately 69.5% or $388,000 of accounts receivable.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify; text-indent: 36pt;">The Company uses several contract research organizations (“CROs”) to conduct its research projects. For the years ended <em style="font: inherit;"> December 31, 2020 </em>and <em style="font: inherit;">2019</em>, <em style="font: inherit;">one</em> CRO accounted for approximately 91.6% and 86.6% of total research services we purchased, respectively. At <em style="font: inherit;"> December 31, 2020</em>, approximately $690,000 or 68.1% of accounts payable was related to this CRO. At <em style="font: inherit;"> December 31, 2019</em>, approximately $706,000 or 74.9% of accounts payable was related to this CRO. The loss of business from this CRO or a combination of the Company’s CROs could adversely affect its operations.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"> </p>
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566003 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2020Q4 us-gaap Accounts Receivable Net Current
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CY2019Q4 us-gaap Prepaid Taxes
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CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
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AccountsPayableCurrent
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CY2019Q4 us-gaap Accounts Payable Current
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CY2019Q4 us-gaap Other Accrued Liabilities Current
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CY2020Q4 us-gaap Accrued Liabilities Current
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CY2020Q4 us-gaap Cash
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0.0133 pure
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0.0018 pure
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-0.0013 pure
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.0007 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0 pure
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0100 pure
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0 pure
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0 pure
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0 pure
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-0
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689600 USD
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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275000 USD
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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5214200 USD
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1656500 USD
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1656500 USD
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69800 USD
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-0 USD
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7900 USD
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4400 USD
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9364800 USD
CY2019Q4 us-gaap Deferred Tax Assets Gross
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7150100 USD
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9364800 USD
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7150100 USD
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0 USD
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0 USD
CY2020Q4 us-gaap Operating Loss Carryforwards
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19700000 USD
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0 USD
CY2020Q4 us-gaap Purchase Obligation Due In Next Twelve Months
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2458506 USD
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771075 USD
CY2020Q4 us-gaap Purchase Obligation Due In Third Year
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0 USD
CY2020Q4 us-gaap Purchase Obligation
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3229581 USD
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AllocatedShareBasedCompensationExpense
1171079 USD
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.89
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.60
CY2020Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
12253502
CY2020Q4 us-gaap Treasury Stock Value
TreasuryStockValue
18900000 USD
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001

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dyai-20201231_cal.xml Edgar Link unprocessable
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