$EMMA
Emmaus Life Sciences, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021046724 Filed on September 01, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $6.489M $4.360M
YoY Change 48.83% -20.63%
Cost Of Revenue $430.0K $446.0K
YoY Change -3.59% 68.94%
Gross Profit $6.059M $3.914M
YoY Change 54.8% -25.15%
Gross Profit Margin 93.37% 89.77%
Selling, General & Admin $4.823M $4.860M
YoY Change -0.76% 6.28%
% of Gross Profit 79.6% 124.17%
Research & Development $753.0K $589.0K
YoY Change 27.84% 9.07%
% of Gross Profit 12.43% 15.05%
Depreciation & Amortization $12.00K $11.00K
YoY Change 9.09% -21.43%
% of Gross Profit 0.2% 0.28%
Operating Expenses $5.576M $5.449M
YoY Change 2.33% 6.57%
Operating Profit $483.0K -$1.535M
YoY Change -131.47% -1423.28%
Interest Expense $653.0K $1.309M
YoY Change -50.11% -83.28%
% of Operating Profit 135.2%
Other Income/Expense, Net $191.0K $567.0K
YoY Change -66.31%
Pretax Income $2.297M -$9.972M
YoY Change -123.03% -43.16%
Income Tax -$192.0K -$500.0K
% Of Pretax Income -8.36%
Net Earnings $2.489M -$9.473M
YoY Change -126.27% -46.16%
Net Earnings / Revenue 38.36% -217.27%
Basic Earnings Per Share $0.05
Diluted Earnings Per Share $0.05 -$193.4K
COMMON SHARES
Basic Shares Outstanding 49.31M 48.99M
Diluted Shares Outstanding 49.31M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.671M $28.04M
YoY Change -94.04% 1047.54%
Cash & Equivalents $1.671M $1.032M
Short-Term Investments $27.01M
Other Short-Term Assets $271.0K $899.0K
YoY Change -69.86% 492.62%
Inventory $6.543M $7.863M
Prepaid Expenses $332.0K
Receivables $3.359M $1.457M
Other Receivables $0.00 $0.00
Total Short-Term Assets $13.04M $38.54M
YoY Change -66.16% -13.64%
LONG-TERM ASSETS
Property, Plant & Equipment $99.00K $141.0K
YoY Change -29.79% -2.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $46.05M $13.01M
YoY Change 254.13%
Other Assets $290.0K $285.0K
YoY Change 1.75% -98.42%
Total Long-Term Assets $50.24M $17.71M
YoY Change 183.61% -2.71%
TOTAL ASSETS
Total Short-Term Assets $13.04M $38.54M
Total Long-Term Assets $50.24M $17.71M
Total Assets $63.28M $56.25M
YoY Change 12.5% -10.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.328M $6.021M
YoY Change -77.94% 972.31%
Accrued Expenses $4.525M $3.703M
YoY Change 22.2% 211.99%
Deferred Revenue
YoY Change
Short-Term Debt $6.076M $634.0K
YoY Change 858.36%
Long-Term Debt Due $3.291M $11.87M
YoY Change -72.26% 790900.0%
Total Short-Term Liabilities $20.51M $26.48M
YoY Change -22.52% -60.15%
LONG-TERM LIABILITIES
Long-Term Debt $14.03M $3.638M
YoY Change 285.54% 489.91%
Other Long-Term Liabilities $34.48M $36.43M
YoY Change -5.37% 3.12%
Total Long-Term Liabilities $34.48M $36.43M
YoY Change -5.37% 3.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.51M $26.48M
Total Long-Term Liabilities $34.48M $36.43M
Total Liabilities $72.65M $70.27M
YoY Change 3.39% -33.7%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.375M -$14.02M
YoY Change
Total Liabilities & Shareholders Equity $63.28M $56.25M
YoY Change 12.5% -10.47%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $2.489M -$9.473M
YoY Change -126.27% -46.16%
Depreciation, Depletion And Amortization $12.00K $11.00K
YoY Change 9.09% -21.43%
Cash From Operating Activities $242.0K -$1.719M
YoY Change -114.08% -21.51%
INVESTING ACTIVITIES
Capital Expenditures -$1.000K -$13.00K
YoY Change -92.31% 11.11%
Acquisitions
YoY Change
Other Investing Activities -$2.196M $1.569M
YoY Change -239.96%
Cash From Investing Activities -$2.197M $1.556M
YoY Change -241.2% -13399.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -135.0K -560.0K
YoY Change -75.89% -116.27%
NET CHANGE
Cash From Operating Activities 242.0K -1.719M
Cash From Investing Activities -2.197M 1.556M
Cash From Financing Activities -135.0K -560.0K
Net Change In Cash -2.090M -723.0K
YoY Change 189.07% -158.3%
FREE CASH FLOW
Cash From Operating Activities $242.0K -$1.719M
Capital Expenditures -$1.000K -$13.00K
Free Cash Flow $243.0K -$1.706M
YoY Change -114.24% -21.68%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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0.37
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3169000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
222000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4650000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
14490000
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
22531000
CY2020Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.10
CY2020Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2021-04-21
CY2020Q1 emma Convertible Debentures Conversion Price
ConvertibleDebenturesConversionPrice
3.00
CY2020Q1 emma Convertible Debentures Conversion Price
ConvertibleDebenturesConversionPrice
9.52
CY2020Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.00
CY2020Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.00
CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
8236017
CY2021Q2 emma Warrants Exercisable
WarrantsExercisable
6986017
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y7M6D
us-gaap Operating Lease Expense
OperatingLeaseExpense
589000
us-gaap Operating Lease Expense
OperatingLeaseExpense
609000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
577000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1172000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1058000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1063000
CY2021Q2 emma Lessee Operating Leases Liability Payments Due Year Four And Thereafter
LesseeOperatingLeasesLiabilityPaymentsDueYearFourAndThereafter
1928000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5798000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1470000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3800000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4300000
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.115

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