$EVOK
Evoke Pharma Inc

2021 Q4 Form 10-K Financial Statement

#000156459022009118 Filed on March 08, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $360.6K $1.618M $20.00K
YoY Change 1702.85% 6929.0%
Cost Of Revenue $136.7K $328.1K $90.00K
YoY Change 51.87% 264.58%
Gross Profit $223.9K $1.290M -$60.00K
YoY Change -473.15% -2249.93%
Gross Profit Margin 62.09% 79.72% -300.0%
Selling, General & Admin $1.736M $8.851M $2.040M
YoY Change -14.93% 37.68% 161.54%
% of Gross Profit 775.17% 686.16%
Research & Development $35.72K $590.5K $100.0K
YoY Change -64.28% -90.99% -84.41%
% of Gross Profit 15.95% 45.77%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.771M $9.770M $2.140M
YoY Change -17.23% -25.25% 233.57%
Operating Profit -$1.547M -$8.152M -$2.200M
YoY Change -29.67% -37.52%
Interest Expense -$125.0K $500.1K -$60.00K
YoY Change 108.35% 342.55% -700.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$386.3K
YoY Change 259.95%
Pretax Income -$1.672M -$8.538M -$2.270M
YoY Change -26.33% -35.07% 59.86%
Income Tax
% Of Pretax Income
Net Earnings -$1.672M -$8.538M -$2.270M
YoY Change -26.33% -35.1% 60.06%
Net Earnings / Revenue -463.81% -527.66% -11350.0%
Basic Earnings Per Share -$3.18
Diluted Earnings Per Share -$614.5K -$3.183M -$86.02K
COMMON SHARES
Basic Shares Outstanding 2.682M
Diluted Shares Outstanding 2.682M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.145M $9.145M $8.070M
YoY Change 13.32% 13.32% 42.58%
Cash & Equivalents $9.145M $9.145M $8.069M
Short-Term Investments
Other Short-Term Assets $11.55K $935.3K $30.30K
YoY Change -61.88% -1.55%
Inventory $185.5K $185.5K $236.5K
Prepaid Expenses $923.7K $921.8K
Receivables $295.2K $295.2K $20.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.56M $10.56M $9.281M
YoY Change 13.79% 13.8% 48.6%
LONG-TERM ASSETS
Property, Plant & Equipment $12.43K $12.43K $140.0K
YoY Change -91.12% -91.12% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $11.55K
YoY Change -100.0% 0.0%
Total Long-Term Assets $12.43K $12.43K $153.3K
YoY Change -91.89% -91.71% 2.11%
TOTAL ASSETS
Total Short-Term Assets $10.56M $10.56M $9.281M
Total Long-Term Assets $12.43K $12.43K $153.3K
Total Assets $10.57M $10.57M $9.434M
YoY Change 12.07% 12.12% 47.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $874.0K $874.0K $1.270M
YoY Change -31.18% -31.18% 23.3%
Accrued Expenses $531.8K $531.8K $1.160M
YoY Change -54.16% -54.16% 18.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $100.0K
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.406M $1.406M $7.536M
YoY Change -81.35% -81.36% 273.96%
LONG-TERM LIABILITIES
Long-Term Debt $5.000M $5.000M $5.000M
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $612.3K $612.3K $110.0K
YoY Change 456.64% 456.64%
Total Long-Term Liabilities $5.612M $5.612M $5.113M
YoY Change 9.77% 9.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.406M $1.406M $7.536M
Total Long-Term Liabilities $5.612M $5.612M $5.113M
Total Liabilities $7.018M $7.018M $12.65M
YoY Change -44.52% -44.52% 527.7%
SHAREHOLDERS EQUITY
Retained Earnings -$107.4M -$98.89M
YoY Change 8.63% 15.34%
Common Stock $111.0M $95.67M
YoY Change 16.0% 6.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.555M $3.555M -$3.215M
YoY Change
Total Liabilities & Shareholders Equity $10.57M $10.57M $9.434M
YoY Change 12.07% 12.12% 47.51%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$1.672M -$8.538M -$2.270M
YoY Change -26.33% -35.1% 60.06%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.997M -$12.35M -$1.710M
YoY Change 16.79% 86.32% 48.7%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $13.07M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 13.43M 3.500M
YoY Change -100.0% 48.63% 1029.03%
NET CHANGE
Cash From Operating Activities -1.997M -12.35M -1.710M
Cash From Investing Activities
Cash From Financing Activities 0.000 13.43M 3.500M
Net Change In Cash -1.997M 1.076M 1.790M
YoY Change -211.57% -55.27% -313.1%
FREE CASH FLOW
Cash From Operating Activities -$1.997M -$12.35M -$1.710M
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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 could differ materially from those estimates. </p>
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<p style="margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentrations of Risk </p> <p style="margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in a federally insured financial institution in excess of federally insured limits. </p> <p style="margin-bottom:6pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has established guidelines designed to maintain safety and liquidity, has not experienced any losses in such accounts and believes the exposure to significant risk to the cash balance is minimal.</span></p> <p style="margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company relies on contract research organizations (“CROs”) and consultants to assist with ongoing regulatory activities. If the CROs and consultants are unable to continue their support, this could adversely affect the Company’s operations.</p> <p style="margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In addition, the Company relies on third-party manufacturers for the production of Gimoti. If the third-party manufacturers are unable to continue manufacturing Gimoti, or if the Company loses one of its sole source suppliers used in its manufacturing processes, the Company may not be able to meet any development needs or commercial supply demand for Gimoti, and the development and/or commercialization of Gimoti could be materially and adversely affected. </p> <p style="margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company also relies on a dedicated third-party sales team to sell Gimoti. If such third-party organization is unable to continue serving as a dedicated sales team, the commercialization of Gimoti could be materially and adversely affected.</p>
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