$EVFM
Evofem Biosciences, Inc.

2016 Q1 Form 10-K Financial Statement

#000156459016015451 Filed on March 29, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 2014 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.520M $7.640M $1.340M
YoY Change 29.9% 72.85% 61.45%
% of Gross Profit
Research & Development $3.260M $34.41M $1.920M
YoY Change -30.65% 564.94% 12.28%
% of Gross Profit
Depreciation & Amortization $20.00K $60.00K $10.00K
YoY Change 200.0%
% of Gross Profit
Operating Expenses $5.781M $34.41M $3.260M
YoY Change -12.91% 564.94% 28.35%
Operating Profit -$5.781M
YoY Change -12.91%
Interest Expense -$250.0K -$1.110M $360.0K
YoY Change -3.85% -9.76% -244.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income -$6.030M -$43.16M -$2.900M
YoY Change -12.61% 298.89% 3.94%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$6.027M -$43.16M -$2.900M
YoY Change -12.69% 298.86% 3.94%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$2.633M -$18.93M -$8.529M
COMMON SHARES
Basic Shares Outstanding 13.75M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.10M $37.70M $75.90M
YoY Change -65.91% -50.33% 1625.0%
Cash & Equivalents $24.10M $37.70M $75.95M
Short-Term Investments
Other Short-Term Assets $1.100M $2.000M $900.0K
YoY Change 37.5% 122.22% 800.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $25.20M $39.70M $76.87M
YoY Change -64.75% -48.37% 1608.3%
LONG-TERM ASSETS
Property, Plant & Equipment $200.0K $200.0K $24.81K
YoY Change -17.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $200.0K
YoY Change 0.0%
Total Long-Term Assets $300.0K $400.0K $24.81K
YoY Change -31.97%
TOTAL ASSETS
Total Short-Term Assets $25.20M $39.70M $76.87M
Total Long-Term Assets $300.0K $400.0K $24.81K
Total Assets $25.50M $40.10M $76.90M
YoY Change -64.54% -47.85% 1608.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.400M $4.000M $997.3K
YoY Change -26.22% 300.0% 66.21%
Accrued Expenses $1.700M $2.300M $912.3K
YoY Change 6.86% 155.56% 30.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $800.0K $2.800M $0.00
YoY Change 64.02% -100.0%
Total Short-Term Liabilities $3.900M $9.100M $1.910M
YoY Change -1.92% 378.95% 27.31%
LONG-TERM LIABILITIES
Long-Term Debt $3.200M $7.200M $9.741M
YoY Change -65.59% -25.77%
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $3.200M $7.200M $9.741M
YoY Change -65.59% -25.77% 342.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.900M $9.100M $1.910M
Total Long-Term Liabilities $3.200M $7.200M $9.741M
Total Liabilities $7.000M $16.30M $11.65M
YoY Change -47.27% 39.32% 214.88%
SHAREHOLDERS EQUITY
Retained Earnings -$69.67M
YoY Change
Common Stock $134.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.50M $23.80M $65.25M
YoY Change
Total Liabilities & Shareholders Equity $25.50M $40.10M $76.90M
YoY Change -64.54% -47.85% 1608.85%

Cashflow Statement

Concept 2016 Q1 2015 2014 Q4
OPERATING ACTIVITIES
Net Income -$6.027M -$43.16M -$2.900M
YoY Change -12.69% 298.86% 3.94%
Depreciation, Depletion And Amortization $20.00K $60.00K $10.00K
YoY Change 200.0%
Cash From Operating Activities -$7.610M -$37.91M -$3.150M
YoY Change 58.54% 296.13% 42.53%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $226.1K -$10.00K
YoY Change -100.0% 1150.85%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$200.0K $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 -$430.0K -$10.00K
YoY Change -100.0% 2050.0% -116.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $485.9K
YoY Change
Cash From Financing Activities -6.050M 140.0K 64.45M
YoY Change -99.83% -322350.0%
NET CHANGE
Cash From Operating Activities -7.610M -37.91M -3.150M
Cash From Investing Activities 0.000 -430.0K -10.00K
Cash From Financing Activities -6.050M 140.0K 64.45M
Net Change In Cash -13.66M -38.20M 61.29M
YoY Change 161.19% -153.37% -2924.42%
FREE CASH FLOW
Cash From Operating Activities -$7.610M -$37.91M -$3.150M
Capital Expenditures $0.00 $226.1K -$10.00K
Free Cash Flow -$7.610M -$38.14M -$3.140M
YoY Change 51.41% 297.75% 42.08%

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0.400
CY2013 neot Effective Income Tax Rate Reconciliation Percentage Of Warrant Liability Remeasurement
EffectiveIncomeTaxRateReconciliationPercentageOfWarrantLiabilityRemeasurement
0.030
CY2015 neot Effective Income Tax Rate Reconciliation Percentage Of Warrant Liability Remeasurement
EffectiveIncomeTaxRateReconciliationPercentageOfWarrantLiabilityRemeasurement
0.000
CY2014 neot Effective Income Tax Rate Reconciliation Percentage Of Warrant Liability Remeasurement
EffectiveIncomeTaxRateReconciliationPercentageOfWarrantLiabilityRemeasurement
0.030
CY2015Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3045693
CY2014Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2440833
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
138000
CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
286000
CY2015Q4 neot Deferred Tax Assets Nonqualified Stock Options
DeferredTaxAssetsNonqualifiedStockOptions
349000
CY2014Q4 neot Deferred Tax Assets Nonqualified Stock Options
DeferredTaxAssetsNonqualifiedStockOptions
209000
CY2015Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
106000
CY2014Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
74000
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
593000
CY2014Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
569000
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
593000
CY2015 neot Effective Income Tax Rate Reconciliation Percentage Of Net Operating Loss Due To Limitation
EffectiveIncomeTaxRateReconciliationPercentageOfNetOperatingLossDueToLimitation
0.393
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Employee Subscription Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumEmployeeSubscriptionRate
0.15
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1312734
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1000746
CY2014 neot Effective Income Tax Rate Reconciliation Percentage Of Net Operating Loss Due To Limitation
EffectiveIncomeTaxRateReconciliationPercentageOfNetOperatingLossDueToLimitation
0.340
CY2013 neot Effective Income Tax Rate Reconciliation Percentage Of Net Operating Loss Due To Limitation
EffectiveIncomeTaxRateReconciliationPercentageOfNetOperatingLossDueToLimitation
0.371
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.005
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.030
CY2013 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2015 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The Company files income tax returns in the United States and California. The Company currently has no years under examination by any jurisdiction; however, the Company is subject to income tax examination by federal and state for years beginning in 2012 and 2011, respectively. However, to the extent allowed by law, the taxing authorities may have the right to examine prior periods where NOLs and tax credits were generated and carried forward, and make adjustment up to the amount of the carryforwards. The Company did not have any Uncertain Tax Positions recognized during the year ended December 31, 2015. The Company does not anticipate that the amount of unrecognized tax benefits as of December 31, 2015 will significantly change within the next twelve months. The Company has not recognized interest or penalties in its consolidated statements of operations and comprehensive loss since inception.
CY2015 neot Uncertain Tax Positions
UncertainTaxPositions
0
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2015 neot Noncancelable Operating Lease Agreement Date
NoncancelableOperatingLeaseAgreementDate
2015-01-20
CY2015 neot Lease Expiration Period
LeaseExpirationPeriod
2020-03
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
388997
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
228281
CY2013 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
194009
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
378525
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
395520
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
410850
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
431508
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
109293
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1725696

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