2023 Q1 Form 10-K Financial Statement
#000117891323001272 Filed on March 31, 2023
Income Statement
| Concept | 2023 Q1 | 2022 Q4 | 2022 |
|---|---|---|---|
| Revenue | $0.00 | $14.00K | $134.0K |
| YoY Change | -100.0% | -97.55% | -76.53% |
| Cost Of Revenue | $0.00 | $8.000K | $101.0K |
| YoY Change | -100.0% | -97.86% | -72.92% |
| Gross Profit | $0.00 | $6.000K | $33.00K |
| YoY Change | -100.0% | -96.97% | -83.33% |
| Gross Profit Margin | 42.86% | 24.63% | |
| Selling, General & Admin | $1.294M | $1.741M | $7.253M |
| YoY Change | -40.4% | -69.4% | 27.47% |
| % of Gross Profit | 29016.67% | 21978.79% | |
| Research & Development | $931.0K | $1.351M | $5.848M |
| YoY Change | -44.91% | -80.05% | -13.63% |
| % of Gross Profit | 22516.67% | 17721.21% | |
| Depreciation & Amortization | $14.00K | $16.00K | $64.00K |
| YoY Change | -12.5% | -69.81% | 20.75% |
| % of Gross Profit | 266.67% | 193.94% | |
| Operating Expenses | $2.212M | $3.074M | $13.05M |
| YoY Change | -42.53% | -75.24% | 5.11% |
| Operating Profit | -$2.212M | -$3.068M | -$13.02M |
| YoY Change | -42.32% | -74.89% | 6.55% |
| Interest Expense | $22.00K | $83.00K | |
| YoY Change | -50.0% | -386.21% | |
| % of Operating Profit | |||
| Other Income/Expense, Net | $22.00K | -$13.00K | $83.00K |
| YoY Change | -50.0% | -386.21% | |
| Pretax Income | -$2.190M | -$3.081M | -$12.93M |
| YoY Change | -42.23% | -74.84% | 5.62% |
| Income Tax | $0.00 | -$46.00K | $137.0K |
| % Of Pretax Income | |||
| Net Earnings | -$2.190M | -$3.035M | -$13.07M |
| YoY Change | -42.12% | -75.1% | 7.25% |
| Net Earnings / Revenue | -21678.57% | -9754.48% | |
| Basic Earnings Per Share | $0.08 | $0.45 | |
| Diluted Earnings Per Share | $0.08 | -$0.11 | $0.45 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 28.81M shares | 28.81M shares | 28.81M shares |
| Diluted Shares Outstanding | 28.81M shares | 28.81M shares |
Balance Sheet
| Concept | 2023 Q1 | 2022 Q4 | 2022 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $10.69M | $12.31M | $12.31M |
| YoY Change | -46.83% | -50.55% | -50.55% |
| Cash & Equivalents | $10.69M | $12.31M | $12.31M |
| Short-Term Investments | |||
| Other Short-Term Assets | $653.0K | $294.0K | $294.0K |
| YoY Change | -50.61% | 15.75% | 15.75% |
| Inventory | |||
| Prepaid Expenses | $86.00K | ||
| Receivables | $29.00K | $246.0K | $246.0K |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $11.37M | $12.85M | $12.85M |
| YoY Change | -47.45% | -49.27% | -49.27% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $136.0K | $139.0K | $229.0K |
| YoY Change | -16.56% | -10.9% | -42.03% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $49.00K | $49.00K | $49.00K |
| YoY Change | -83.45% | -81.37% | -81.37% |
| Total Long-Term Assets | $233.0K | $278.0K | $278.0K |
| YoY Change | -65.28% | -57.75% | -57.75% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $11.37M | $12.85M | $12.85M |
| Total Long-Term Assets | $233.0K | $278.0K | $278.0K |
| Total Assets | $11.61M | $13.13M | $13.13M |
| YoY Change | -47.98% | -49.49% | -49.49% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $150.0K | $17.00K | $17.00K |
| YoY Change | -24.62% | -89.76% | -89.76% |
| Accrued Expenses | $1.344M | $1.324M | $1.324M |
| YoY Change | -31.95% | -55.57% | -55.57% |
| Deferred Revenue | $0.00 | ||
| YoY Change | -100.0% | ||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $1.494M | $1.341M | $1.341M |
| YoY Change | -35.99% | -57.58% | -57.58% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $32.00K | $32.00K | $32.00K |
| YoY Change | -86.27% | -87.74% | -87.74% |
| Total Long-Term Liabilities | $32.00K | $32.00K | $32.00K |
| YoY Change | -86.27% | -87.74% | -87.74% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $1.494M | $1.341M | $1.341M |
| Total Long-Term Liabilities | $32.00K | $32.00K | $32.00K |
| Total Liabilities | $1.526M | $1.373M | $1.373M |
| YoY Change | -40.55% | -59.88% | -59.88% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$97.69M | -$95.50M | |
| YoY Change | 13.33% | 15.86% | |
| Common Stock | $107.7M | $107.2M | |
| YoY Change | 1.71% | 2.15% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $10.08M | $11.75M | $11.75M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $11.61M | $13.13M | $13.13M |
| YoY Change | -47.98% | -49.49% | -49.49% |
Cashflow Statement
| Concept | 2023 Q1 | 2022 Q4 | 2022 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$2.190M | -$3.035M | -$13.07M |
| YoY Change | -42.12% | -75.1% | 7.25% |
| Depreciation, Depletion And Amortization | $14.00K | $16.00K | $64.00K |
| YoY Change | -12.5% | -69.81% | 20.75% |
| Cash From Operating Activities | -$1.609M | -$2.011M | -$12.50M |
| YoY Change | -66.42% | -18.75% | 37.91% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $11.00K | $3.000K | $47.00K |
| YoY Change | -147.83% | -130.0% | -376.47% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | -$55.00K | |
| YoY Change | |||
| Cash From Investing Activities | -$11.00K | -$3.000K | -$102.0K |
| YoY Change | -52.17% | -70.0% | 500.0% |
| 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 | 0.000 | 0.000 | $13.00K |
| YoY Change | -100.0% | -99.95% | |
| NET CHANGE | |||
| Cash From Operating Activities | -$1.609M | -2.011M | -$12.50M |
| Cash From Investing Activities | -$11.00K | -3.000K | -$102.0K |
| Cash From Financing Activities | 0.000 | 0.000 | $13.00K |
| Net Change In Cash | -$1.620M | -2.014M | -$12.59M |
| YoY Change | -66.36% | -13.15% | -177.22% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$1.609M | -$2.011M | -$12.50M |
| Capital Expenditures | $11.00K | $3.000K | $47.00K |
| Free Cash Flow | -$1.620M | -$2.014M | -$12.55M |
| YoY Change | -66.03% | -18.3% | 38.69% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022 | entx |
Proceeds From Options And Warrant Exercises
ProceedsFromOptionsAndWarrantExercises
|
13000 | usd |
| CY2021Q4 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
134000 | usd |
| CY2022Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
0 | usd |
| CY2021Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
15000 | usd |
| CY2022 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
13000 | usd |
| CY2022 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
| CY2022 | dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false | |
| CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2021 | entx |
Exercise Of Warrants Value
ExerciseOfWarrantsValue
|
3158000 | usd |
| CY2021 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
|
0 | usd |
| CY2021 | entx |
Proceeds From Options And Warrant Exercises
ProceedsFromOptionsAndWarrantExercises
|
3576000 | usd |
| CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-95500000 | usd |
| CY2022 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
197000 | usd |
| CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;width:100%;text-align:left;color:#000000"> <tr> <td style="width:47px;vertical-align:top;font-family:Times New Roman, Times, serif;font-weight:bold;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">b.</span></span></td> <td style="width:auto;vertical-align:top"> <p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong><span style="line-height:107%">Use of estimates in the preparation of financial statements</span></strong></span></span></span></span></span></span></p> </td> </tr> </table> <div style="line-height:1.25;text-align:justify"> </div> <div style="margin-left:47px;line-height:1.25;font-family:Times New Roman, Times, serif;text-align:justify"> <div style="font-size:10pt;display:inline"> <div style="font-family:Times New Roman,Times,serif;display:inline"> <p style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman, Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="line-height:normal">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.</span></span></span></span></span></span></span></p> </div> </div> </div> </div> | |
| CY2022 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
89000 | usd |
| CY2021 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
502000 | usd |
| CY2021 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
216000 | usd |
| CY2022 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div> <table cellpadding="0" cellspacing="0" style="border:0px;width:100%"> <tr> <td style="width:47px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>g.</strong></span></span></td> <td> <p style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman, Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Concentrations of credit risk</strong></span></span></p> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman, Times, serif"> </p> <p style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman, Times, serif;margin-left:47px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains cash held in checking accounts and deposits at financial institutions in major Israeli and U.S. banks. Management believes the Company is not exposed to significant credit risk to its current financial institution, but will continue to monitor regularly and adjust, if needed, to mitigate risk. The Company has established guidelines regarding diversification of its investments and their maturities, which are designed to maintain principal and maximize liquidity. To date, the Company has not experienced any losses associated with this credit risk and continues to believe that this exposure is not significant.</span></span></p> </div> | |
| CY2022 | us-gaap |
Severance Costs1
SeveranceCosts1
|
132000 | usd |
| CY2021 | us-gaap |
Severance Costs1
SeveranceCosts1
|
137000 | usd |
| CY2021 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6517102 | shares |
| CY2022 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
197000 | usd |
| CY2021 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
216000 | usd |
| CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
90000 | usd |
| CY2021Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
239000 | usd |
| CY2022Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
91000 | usd |
| CY2021Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
179000 | usd |
| CY2022Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
0 | usd |
| CY2021Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
123000 | usd |
| CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
91000 | usd |
| CY2021Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
302000 | usd |
| CY2022Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P0Y6M7D | |
| CY2021Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y6M10D | |
| CY2022Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.16 | |
| CY2021Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.16 | |
| CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
91000 | usd |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
|
The options vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date. | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P4Y | |
| CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
135115 | shares |
| CY2022 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
3.8 | |
| CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
34466 | shares |
| CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
4 | |
| CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5733087 | shares |
| CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.3 | |
| CY2022Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
154000 | usd |
| CY2021Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
147000 | usd |
| CY2022Q4 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
0 | usd |
