2016 Q4 Form 10-Q Financial Statement
#000114420416134343 Filed on November 14, 2016
Income Statement
| Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $37.50K |
| YoY Change | -100.0% | -100.0% | |
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $300.0K | $480.0K | $590.0K |
| YoY Change | -25.0% | -18.64% | -23.38% |
| % of Gross Profit | |||
| Research & Development | $210.0K | $280.2K | $601.6K |
| YoY Change | -64.68% | -53.42% | -71.63% |
| % of Gross Profit | |||
| Depreciation & Amortization | $20.00K | $10.00K | $30.00K |
| YoY Change | -33.33% | -66.67% | -50.0% |
| % of Gross Profit | |||
| Operating Expenses | $1.510M | $280.2K | $601.6K |
| YoY Change | 153.99% | -53.42% | -71.63% |
| Operating Profit | -$2.211M | -$1.151M | |
| YoY Change | 91.99% | -77.8% | |
| Interest Expense | $90.00K | -$74.00 | -$282.00 |
| YoY Change | -101223.6% | -73.76% | -115.8% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $220.0K | $430.0K | $20.00K |
| YoY Change | -148.89% | 2050.0% | |
| Pretax Income | -$1.190M | -$1.574M | -$180.7K |
| YoY Change | -69.17% | 770.62% | -96.51% |
| Income Tax | -$400.0K | -$640.0K | $0.00 |
| % Of Pretax Income | |||
| Net Earnings | -$790.0K | -$933.6K | -$180.7K |
| YoY Change | -79.51% | 416.52% | -96.51% |
| Net Earnings / Revenue | -481.98% | ||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$767.0K | -$911.8K | -$180.0K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 20.64M shares | 20.50M shares | 20.39M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $150.0K | $290.0K | $3.350M |
| YoY Change | -93.67% | -91.34% | -12.76% |
| Cash & Equivalents | $2.212M | $287.1K | $3.350M |
| Short-Term Investments | |||
| Other Short-Term Assets | $50.00K | $90.00K | $300.0K |
| YoY Change | -84.38% | -70.0% | 87.5% |
| Inventory | |||
| Prepaid Expenses | $11.00K | ||
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $3.087M | $380.0K | $3.650M |
| YoY Change | 14.76% | -89.59% | -9.73% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $41.00K | $80.00K | $150.0K |
| YoY Change | -65.83% | -46.67% | -42.89% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $40.00K | $60.00K | $50.00K |
| YoY Change | -20.0% | 20.0% | 400.0% |
| Total Long-Term Assets | $41.00K | $6.630M | $15.79M |
| YoY Change | -99.68% | -58.01% | -34.47% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $3.087M | $380.0K | $3.650M |
| Total Long-Term Assets | $41.00K | $6.630M | $15.79M |
| Total Assets | $3.128M | $7.010M | $19.44M |
| YoY Change | -80.0% | -63.94% | -30.92% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $1.899M | $140.0K | $170.0K |
| YoY Change | 3065.0% | -17.65% | -72.13% |
| Accrued Expenses | $619.0K | $320.0K | $400.0K |
| YoY Change | 37.56% | -20.0% | -62.62% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $300.0K | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $2.518M | $470.0K | $680.0K |
| YoY Change | 341.75% | -30.88% | -59.76% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $0.00 | $320.0K | $2.340M |
| YoY Change | -100.0% | -86.32% | 2240.0% |
| Total Long-Term Liabilities | $0.00 | $320.0K | $2.340M |
| YoY Change | -100.0% | -86.32% | 2240.0% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $2.518M | $470.0K | $680.0K |
| Total Long-Term Liabilities | $0.00 | $320.0K | $2.340M |
| Total Liabilities | $2.960M | $3.390M | $6.930M |
| YoY Change | -57.23% | -51.08% | 21.37% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$17.75M | ||
| YoY Change | |||
| Common Stock | $18.28M | $203.9K | |
| YoY Change | 8851.74% | 47.24% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $610.0K | $3.630M | $12.51M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $3.128M | $7.010M | $19.44M |
| YoY Change | -80.0% | -63.94% | -30.91% |
Cashflow Statement
| Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$790.0K | -$933.6K | -$180.7K |
| YoY Change | -79.51% | 416.52% | -96.51% |
| Depreciation, Depletion And Amortization | $20.00K | $10.00K | $30.00K |
| YoY Change | -33.33% | -66.67% | -50.0% |
| Cash From Operating Activities | -$440.0K | -$573.7K | -$1.130M |
| YoY Change | -55.56% | -49.23% | -41.73% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $0.00 | $0.00 | |
| YoY Change | -100.0% | ||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | $50.00K | |
| YoY Change | |||
| Cash From Investing Activities | $0.00 | $50.00K | $0.00 |
| YoY Change | -100.0% | ||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $0.00 | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 300.0K | $0.00 | 1.150M |
| YoY Change | -100.0% | ||
| NET CHANGE | |||
| Cash From Operating Activities | -440.0K | -$573.7K | -1.130M |
| Cash From Investing Activities | 0.000 | $50.00K | 0.000 |
| Cash From Financing Activities | 300.0K | $0.00 | 1.150M |
| Net Change In Cash | -140.0K | -$523.7K | 20.00K |
| YoY Change | -85.86% | -2718.72% | -100.88% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$440.0K | -$573.7K | -$1.130M |
| Capital Expenditures | $0.00 | $0.00 | |
| Free Cash Flow | -$440.0K | -$1.130M | |
| YoY Change | -55.56% | -43.89% |
Facts In Submission
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DocumentType
|
10-Q | |
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false | |
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Document Period End Date
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2016-09-30 | |
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2017 | |
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Q1 | |
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Entity Registrant Name
EntityRegistrantName
|
Sevion Therapeutics, Inc. | |
| CY2016Q3 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001035354 | |
| CY2016Q3 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--06-30 | |
| CY2016Q3 | dei |
Entity Filer Category
EntityFilerCategory
|
Smaller Reporting Company | |
| CY2016Q3 | dei |
Trading Symbol
TradingSymbol
|
SVON | |
| CY2016Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
20636847 | shares |
| CY2015Q3 | us-gaap |
Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
|
0 | USD |
| CY2016Q3 | us-gaap |
Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
|
149728 | USD |
| CY2016Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
| CY2016Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
| CY2016Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
20496385 | shares |
| CY2016Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
20496385 | shares |
| CY2016Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
20496385 | shares |
| CY2016Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
20496385 | shares |
| CY2016Q3 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-640000 | USD |
| CY2016Q3 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
5000 | USD |
| CY2016Q3 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="center"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt">Note 1 - Basis of Presentation:</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The financial statements included herein have been prepared by Sevion Therapeutics, Inc. (the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting solely of those which are of a normal recurring nature, necessary to present fairly its financial position as of September 30, 2016 and the results of its operations for the three months ended September 30, 2016 and cash flows for the three months ended September 30, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Interim results are not necessarily indicative of results for the full fiscal year.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2016Q3 | svon |
Development Stage Enterprise Deficit Accumulated During Development Stages
DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStages
|
116573138 | USD |
| CY2016Q3 | svon |
Share Based Compensation Shares Authorized Under Stock Option Plans Expirations In Period Exercise Price
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExpirationsInPeriodExercisePrice
|
25.00 | |
| CY2016Q3 | us-gaap |
Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
|
640000 | USD |
| CY2016Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P1Y29D | |
| CY2016Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0077 | pure |
| CY2016Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.00 | pure |
| CY2015Q3 | us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
0 | USD |
| CY2015Q3 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | USD |
| CY2015Q3 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
0 | USD |
| CY2016Q3 | svon |
Share Based Compensation Shares Authorized Under Stock Option Plans Granted Exercise Price
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansGrantedExercisePrice
|
0 | |
| CY2016Q3 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
1600000 | USD |
| CY2016Q3 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
50000 | USD |
| CY2015Q3 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
0 | USD |
| CY2016Q3 | us-gaap |
Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
|
50000 | USD |
| CY2015Q3 | us-gaap |
Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
|
0 | USD |
| CY2016Q4 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
300000 | USD |
| CY2016Q3 | us-gaap |
Business Acquisition Percentage Of Voting Interests Acquired
BusinessAcquisitionPercentageOfVotingInterestsAcquired
|
0.199 | pure |
| CY2016Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
|
99728 | USD |
