$EVFM
Evofem Biosciences, Inc.

2017 Q1 Form 10-K Financial Statement

#000156459017005093 Filed on March 23, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2015 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 $1.480M $1.060M $2.200M
YoY Change -41.27% -51.82% 64.18%
% of Gross Profit
Research & Development $1.982M $930.0K $7.030M
YoY Change -39.2% -86.77% 266.15%
% of Gross Profit
Depreciation & Amortization $10.00K $20.00K $20.00K
YoY Change -50.0% 0.0% 100.0%
% of Gross Profit
Operating Expenses $4.913M $1.980M $9.230M
YoY Change -15.02% -78.55% 183.13%
Operating Profit -$4.913M
YoY Change -15.02%
Interest Expense $10.00K $10.00K -$280.0K
YoY Change -104.0% -103.57% -177.78%
% of Operating Profit
Other Income/Expense, Net $353.0K
YoY Change
Pretax Income -$5.266M -$1.970M -$9.520M
YoY Change -12.67% -79.31% 228.28%
Income Tax $3.000K
% Of Pretax Income
Net Earnings -$5.269M -$1.970M -$9.520M
YoY Change -12.57% -79.31% 228.28%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$1.309M -$852.8K -$4.157M
COMMON SHARES
Basic Shares Outstanding 13.83M 13.83M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.700M $11.50M $37.70M
YoY Change -59.75% -69.5% -50.33%
Cash & Equivalents $4.553M $11.68M $37.75M
Short-Term Investments
Other Short-Term Assets $900.0K $1.000M $2.000M
YoY Change -18.18% -50.0% 122.22%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $10.60M $12.50M $39.73M
YoY Change -57.94% -68.53% -48.32%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $109.3K $186.4K
YoY Change -100.0% -41.34% 651.23%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $200.0K $200.0K
YoY Change -50.0% 0.0%
Total Long-Term Assets $100.0K $316.7K $386.4K
YoY Change -66.67% -18.03% 1457.39%
TOTAL ASSETS
Total Short-Term Assets $10.60M $12.50M $39.73M
Total Long-Term Assets $100.0K $316.7K $386.4K
Total Assets $10.70M $12.82M $40.11M
YoY Change -58.04% -68.05% -47.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.000M $503.7K $4.017M
YoY Change -28.57% -87.46% 302.82%
Accrued Expenses $700.0K $398.5K $2.300M
YoY Change -58.82% -82.68% 152.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $2.756M
YoY Change -100.0%
Total Short-Term Liabilities $1.700M $902.2K $9.100M
YoY Change -56.41% -90.09% 376.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $7.205M
YoY Change -100.0% -100.0% -26.03%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $7.205M
YoY Change -100.0% -100.0% -26.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.700M $902.2K $9.100M
Total Long-Term Liabilities $0.00 $0.00 $7.205M
Total Liabilities $1.700M $900.0K $16.30M
YoY Change -75.71% -94.48% 39.95%
SHAREHOLDERS EQUITY
Retained Earnings -$125.9M -$112.8M
YoY Change 11.54% 61.94%
Common Stock $137.8M $136.6M
YoY Change 0.82% 1.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.000M -$181.1M $23.81M
YoY Change
Total Liabilities & Shareholders Equity $10.70M $12.82M $40.11M
YoY Change -58.04% -68.05% -47.84%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income -$5.269M -$1.970M -$9.520M
YoY Change -12.57% -79.31% 228.28%
Depreciation, Depletion And Amortization $10.00K $20.00K $20.00K
YoY Change -50.0% 0.0% 100.0%
Cash From Operating Activities -$1.840M -$2.880M -$13.57M
YoY Change -75.82% -78.78% 330.79%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $10.00K $0.00 $0.00
YoY Change
Cash From Investing Activities $10.00K $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 60.00K
YoY Change -100.0% -100.0% -99.91%
NET CHANGE
Cash From Operating Activities -1.840M -2.880M -13.57M
Cash From Investing Activities 10.00K 0.000 0.000
Cash From Financing Activities 0.000 0.000 60.00K
Net Change In Cash -1.830M -2.880M -13.51M
YoY Change -86.6% -78.68% -122.04%
FREE CASH FLOW
Cash From Operating Activities -$1.840M -$2.880M -$13.57M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$2.880M -$13.57M
YoY Change -78.78% 332.17%

Facts In Submission

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ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumEmployeeSubscriptionRate
0.15
CY2016 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1082865
CY2015 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1384781
CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
612952
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2276079
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1312734
CY2016Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3654714
CY2015Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3045693
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
46000
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
138000
CY2016Q4 neot Deferred Tax Assets Nonqualified Stock Options
DeferredTaxAssetsNonqualifiedStockOptions
173000
CY2015Q4 neot Deferred Tax Assets Nonqualified Stock Options
DeferredTaxAssetsNonqualifiedStockOptions
349000
CY2016Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
34000
CY2015Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
106000
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
253000
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
593000
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
253000
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
593000
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.398
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.398
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.400
CY2016 neot Effective Income Tax Rate Reconciliation Percentage Of Warrant Liability Remeasurement
EffectiveIncomeTaxRateReconciliationPercentageOfWarrantLiabilityRemeasurement
0.000
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
CY2016 neot Effective Income Tax Rate Reconciliation Percentage Of Net Operating Loss Due To Limitation
EffectiveIncomeTaxRateReconciliationPercentageOfNetOperatingLossDueToLimitation
0.367
CY2015 neot Effective Income Tax Rate Reconciliation Percentage Of Net Operating Loss Due To Limitation
EffectiveIncomeTaxRateReconciliationPercentageOfNetOperatingLossDueToLimitation
0.393
CY2014 neot Effective Income Tax Rate Reconciliation Percentage Of Net Operating Loss Due To Limitation
EffectiveIncomeTaxRateReconciliationPercentageOfNetOperatingLossDueToLimitation
0.340
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.031
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
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2016 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 2013 and 2012, 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 does not have any unrecognized tax benefits as of December 31, 2016 and does not anticipate that the amount of unrecognized tax benefits 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.
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2016 neot Non Cancelable Operating Lease Agreement Date
NonCancelableOperatingLeaseAgreementDate
2015-01-20
CY2016 neot Lease Expiration Period
LeaseExpirationPeriod
2020-03
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
429927
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
388997
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
228281
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
395520
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
410850
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
431508
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
109293
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1347171

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