2013 Form 10-K Financial Statement

#000114420414019399 Filed on March 31, 2014

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.330M $560.0K $1.550M
YoY Change -14.19% 40.0% -20.1%
% of Gross Profit
Research & Development $579.0K $560.0K $2.075M
YoY Change -72.1% 9.8% 39.26%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $579.0K $1.120M $2.075M
YoY Change -72.1% 24.44% -39.68%
Operating Profit -$1.931M -$3.620M
YoY Change -46.66%
Interest Expense $0.00 -$5.390M $0.00
YoY Change -222.22% -100.0%
% of Operating Profit
Other Income/Expense, Net $3.776M -$1.543M
YoY Change -344.72%
Pretax Income $2.620M -$6.510M -$5.160M
YoY Change -150.78% -285.47% -210.02%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $1.845M -$6.510M -$5.163M
YoY Change -135.74% -285.47% -210.2%
Net Earnings / Revenue
Basic Earnings Per Share $0.19 -$0.21
Diluted Earnings Per Share $0.17 -$775.9K -$0.21
COMMON SHARES
Basic Shares Outstanding 9.719M shares 25.16M shares
Diluted Shares Outstanding 10.57M shares 25.16M shares

Balance Sheet

Concept 2013 2012 Q4 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.660M $2.300M $2.300M
YoY Change -27.83% -56.6% -56.6%
Cash & Equivalents $1.660M $2.303M $2.300M
Short-Term Investments
Other Short-Term Assets $90.00K $6.000K $70.00K
YoY Change 28.57% -68.42% 16.67%
Inventory
Prepaid Expenses $56.00K
Receivables
Other Receivables
Total Short-Term Assets $1.750M $2.370M $2.370M
YoY Change -26.16% -55.7% -55.7%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 -$5.000K $0.00
YoY Change -600.0%
TOTAL ASSETS
Total Short-Term Assets $1.750M $2.370M $2.370M
Total Long-Term Assets $0.00 -$5.000K $0.00
Total Assets $1.750M $2.365M $2.370M
YoY Change -26.16% -55.8% -55.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $210.0K $259.0K $260.0K
YoY Change -19.23% -24.27% -23.53%
Accrued Expenses $130.0K $423.0K $420.0K
YoY Change -69.05% 713.46% 740.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.210M $7.322M $7.320M
YoY Change -56.15% 33.86% 33.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.210M $7.322M $7.320M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.210M $7.322M $7.320M
YoY Change -56.15% 33.83% 33.82%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $104.3M
YoY Change 0.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.460M -$4.957M -$4.960M
YoY Change
Total Liabilities & Shareholders Equity $1.750M $2.365M $2.370M
YoY Change -26.16% -55.8% -55.7%

Cashflow Statement

Concept 2013 2012 Q4 2012
OPERATING ACTIVITIES
Net Income $1.845M -$6.510M -$5.163M
YoY Change -135.74% -285.47% -210.2%
Depreciation, Depletion And Amortization $0.00 $0.00 $0.00
YoY Change
Cash From Operating Activities -$2.210M -$550.0K -$2.994M
YoY Change -26.19% -28.57% -7.31%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.570M $0.00
YoY Change
Debt Paid & Issued, Net $0.00 $0.00
YoY Change
Cash From Financing Activities $1.570M 0.000 $0.00
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$2.210M -550.0K -$2.994M
Cash From Investing Activities $0.00 0.000 $0.00
Cash From Financing Activities $1.570M 0.000 $0.00
Net Change In Cash -$640.0K -550.0K -$2.994M
YoY Change -78.62% -28.57% 353.64%
FREE CASH FLOW
Cash From Operating Activities -$2.210M -$550.0K -$2.994M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$2.210M -$550.0K -$2.994M
YoY Change -26.19% -28.57% -7.31%

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CY2009 us-gaap Net Income Loss
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CY2010 us-gaap Net Income Loss
NetIncomeLoss
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CY2011 us-gaap Net Income Loss
NetIncomeLoss
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CY2000 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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StockholdersEquity
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StockholdersEquity
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CY1997Q2 us-gaap Stockholders Equity
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CY2013 us-gaap Use Of Estimates
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Use of estimates</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that impact the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as at the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period.&#160;Significant estimates include the valuation of derivative warrant liability and the valuation of stock based compensation.&#160;Actual results could differ from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1631000 shares
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P5Y8M23D
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
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CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P7Y
CY2010Q2 adhxf Percentage Of Total Number Of Share Issued And Outstanding
PercentageOfTotalNumberOfShareIssuedAndOutstanding
0.25 pure
CY2013Q4 us-gaap Class Of Warrant Or Right Outstanding
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22035000 shares
CY2012 us-gaap Research And Development Expense
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2075000 USD
CY2013 us-gaap Research And Development Expense
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579000 USD
us-gaap Research And Development Expense
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69746000 USD
CY2012 us-gaap Investment Tax Credit
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0 USD
CY2013 us-gaap Investment Tax Credit
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0 USD
us-gaap Investment Tax Credit
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-1632000 USD
CY2012 us-gaap Revenue From Grants
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0 USD
CY2013 us-gaap Revenue From Grants
RevenueFromGrants
0 USD
us-gaap Revenue From Grants
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197000 USD
CY2012 adhxf Research And Development Net
ResearchAndDevelopmentNet
2075000 USD
CY2013 adhxf Research And Development Net
ResearchAndDevelopmentNet
579000 USD
adhxf Research And Development Net
ResearchAndDevelopmentNet
67917000 USD
CY2013Q1 adhxf Milestone Payment Fees
MilestonePaymentFees
100000000 USD
CY2013Q1 adhxf Issue Of Convertible Common Stock As Per Licence Agreement
IssueOfConvertibleCommonStockAsPerLicenceAgreement
13902000 shares
CY2013Q1 adhxf Expired Convertible Common Stock
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21250000 shares
CY2012Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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CY2013Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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2620000 USD
CY2012Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
-766000 USD
CY2013Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
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-775000 USD
CY2012Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
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CY2013Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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1845000 USD
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.2650 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.2650 pure
CY2012 adhxf Expected Provision For Recovery Of Income Tax
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CY2013 adhxf Expected Provision For Recovery Of Income Tax
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489000 USD
CY2012 adhxf Permanent Difference
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489000 USD
CY2013 adhxf Permanent Difference
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CY2012 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-1378000 USD
CY2013 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2012 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
36000 USD
CY2013 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
222000 USD
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2012Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
26940000 USD
CY2013Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
27170000 USD
CY2012Q4 us-gaap Deferred Tax Assets Valuation Allowance Current
DeferredTaxAssetsValuationAllowanceCurrent
26940000 USD
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance Current
DeferredTaxAssetsValuationAllowanceCurrent
27170000 USD
CY2012Q4 us-gaap Deferred Tax Assets Net
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0 USD
CY2013Q4 us-gaap Deferred Tax Assets Net
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0 USD
CY2012 us-gaap Severance Costs1
SeveranceCosts1
0 USD
CY2013 us-gaap Severance Costs1
SeveranceCosts1
0 USD
us-gaap Severance Costs1
SeveranceCosts1
168000 USD
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Trading Symbol
TradingSymbol
ADHXF
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
29307618 shares
CY2013 dei Entity Registrant Name
EntityRegistrantName
ADHEREX TECHNOLOGIES INC
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0001211583
CY2013 dei Current Fiscal Year End Date
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--12-31
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2013Q2 dei Entity Public Float
EntityPublicFloat
2802147 USD
CY2013Q4 adhxf Contractual Obligations Current
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55000 USD
CY2013Q4 adhxf Contractualobligationdueyearonethroughyearthree
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0 USD
CY2013Q4 us-gaap Contractual Obligation
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55000 USD
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
2467000 USD
CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
230000 USD
CY2012 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
-245000 USD
CY2013 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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36000 USD
CY2012 us-gaap Deferred Income Taxes And Tax Credits
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0 USD
CY2013 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
0 USD

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