$FENC
FENNEC PHARMACEUTICALS INC.

2015 Q1 Form 10-Q Financial Statement

#000114420415031464 Filed on May 15, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2014 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $410.0K $630.0K $510.0K
YoY Change -19.61% 90.91% 41.67%
% of Gross Profit
Research & Development $43.00K $170.0K $24.00K
YoY Change 79.17% 88.89% -86.52%
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit
Operating Expenses $43.00K $790.0K $24.00K
YoY Change 79.17% 88.1% -86.52%
Operating Profit -$452.0K -$537.0K
YoY Change -15.83% 0.0%
Interest Expense $630.0K $2.180M $0.00
YoY Change 42.48%
% of Operating Profit
Other Income/Expense, Net $629.0K -$2.657M
YoY Change -123.67% -25.6%
Pretax Income $180.0K $1.390M -$3.190M
YoY Change -105.64% 25.23% -22.38%
Income Tax
% Of Pretax Income
Net Earnings $177.0K $1.390M -$3.194M
YoY Change -105.54% 25.23% -22.25%
Net Earnings / Revenue
Basic Earnings Per Share $0.02 -$0.33
Diluted Earnings Per Share $0.01 $140.4K -$0.33
COMMON SHARES
Basic Shares Outstanding 10.61M shares 9.861M shares 9.769M shares
Diluted Shares Outstanding 11.87M shares 9.769M shares

Balance Sheet

Concept 2015 Q1 2014 Q4 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.920M $2.310M $1.340M
YoY Change 43.28% 39.16% -29.47%
Cash & Equivalents $1.916M $2.307M $1.338M
Short-Term Investments
Other Short-Term Assets $2.000K $17.00K $3.000K
YoY Change -33.33% 112.5% -92.5%
Inventory
Prepaid Expenses $31.00K $48.00K $54.00K
Receivables
Other Receivables
Total Short-Term Assets $1.950M $2.370M $1.400M
YoY Change 39.29% 35.43% -27.84%
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 -$1.000K $2.000K -$5.000K
YoY Change -80.0% 0.0%
TOTAL ASSETS
Total Short-Term Assets $1.950M $2.370M $1.400M
Total Long-Term Assets -$1.000K $2.000K -$5.000K
Total Assets $1.949M $2.372M $1.395M
YoY Change 39.71% 35.39% -28.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $384.0K $308.0K $154.0K
YoY Change 149.35% 45.28% -78.0%
Accrued Expenses $45.00K $132.0K $57.00K
YoY Change -21.05% 0.0% -36.67%
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 $1.123M $1.759M $5.729M
YoY Change -80.4% -45.15% -47.92%
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 $1.123M $1.759M $5.729M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.123M $1.759M $5.729M
YoY Change -80.4% -45.15% -47.92%
SHAREHOLDERS EQUITY
Retained Earnings -$110.7M -$110.9M
YoY Change 2.0%
Common Stock $110.3M $110.2M $106.3M
YoY Change 3.73% 4.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $826.0K $613.0K -$4.334M
YoY Change
Total Liabilities & Shareholders Equity $1.949M $2.372M $1.395M
YoY Change 39.71% 35.39% -28.09%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2014 Q1
OPERATING ACTIVITIES
Net Income $177.0K $1.390M -$3.194M
YoY Change -105.54% 25.23% -22.25%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$420.0K -$470.0K -$378.0K
YoY Change 11.11% 6.82% -7.13%
INVESTING ACTIVITIES
Capital Expenditures $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 $27.00K
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities $27.00K 2.180M $53.00K
YoY Change -49.06% 38.85%
NET CHANGE
Cash From Operating Activities -420.0K -470.0K -$378.0K
Cash From Investing Activities $0.00 0.000 $0.00
Cash From Financing Activities $27.00K 2.180M $53.00K
Net Change In Cash $27.00K 1.710M -$325.0K
YoY Change -108.31% 51.33% -20.15%
FREE CASH FLOW
Cash From Operating Activities -$420.0K -$470.0K -$378.0K
Capital Expenditures $0.00
Free Cash Flow -$378.0K
YoY Change -7.13%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> <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;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>&#160;</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> 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 of the date of the condensed consolidated financial statements and the reported amounts of revenue and expense during the reporting period.&#160;Significant estimates include certain accruals, valuation of derivative warrant liability and the value of stock based compensation.&#160;Actual results could differ from those estimates.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In the opinion of management, these unaudited interim condensed consolidated financial statements include all normal and recurring adjustments, considered necessary for the fair presentation of the Company&#8217;s financial position at March 31, 2015, and to state fairly the results for the periods presented. The most significant estimates included in these financial statements are the derivative instruments described in Note 3. There were significant changes in their valuation during the quarter.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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1916000 USD
CY2015Q1 dei Current Fiscal Year End Date
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CY2015Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2015Q1 dei Entity Registrant Name
EntityRegistrantName
FENNEC PHARMACEUTICALS INC.
CY2015Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001211583
CY2015Q2 dei Entity Common Stock Shares Outstanding
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CY2015Q1 dei Trading Symbol
TradingSymbol
FENCF
CY2015Q1 us-gaap Development Stage Enterprise Deficit Accumulated During Development Stage
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CashAndCashEquivalentsAtCarryingValue
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PrepaidExpenseCurrent
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PrepaidExpenseCurrent
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CY2015Q1 us-gaap Other Assets Current
OtherAssetsCurrent
2000 USD
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
17000 USD
CY2015Q1 us-gaap Assets
Assets
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CY2014Q4 us-gaap Assets
Assets
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AccountsPayableCurrent
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CY2014Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
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CY2015Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
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CY2014Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
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CY2015Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
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CY2014Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
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CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
1123000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2015Q1 us-gaap Liabilities
Liabilities
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CY2014Q4 us-gaap Liabilities
Liabilities
1759000 USD
CY2015Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2014Q4 us-gaap Common Stock Value
CommonStockValue
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Cash
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CY2015Q1 us-gaap Cash
Cash
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CY2010Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
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CY2010Q2 fencf Percentage Of Common Shares Outstanding
PercentageOfCommonSharesOutstanding
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CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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CY2013Q1 fencf Issue Of Convertible Common Stock As Per Licence Agreement
IssueOfConvertibleCommonStockAsPerLicenceAgreement
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CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2013Q1 fencf Milestone Payment Fees
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CY2014Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2015Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2015Q1 us-gaap Research And Development In Process
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CY2014Q1 us-gaap Operating Income Loss
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CY2015Q1 us-gaap Operating Income Loss
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CY2014Q1 us-gaap Investment Income Nonoperating
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CY2015Q1 us-gaap Investment Income Nonoperating
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CY2015Q1 us-gaap Nonoperating Income Expense
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CY2015Q1 us-gaap Net Income Loss
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CY2014Q1 us-gaap Earnings Per Share Basic
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CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2014Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
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CY2014Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
129000 USD
CY2015Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
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CY2014Q1 us-gaap Share Based Compensation
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CY2015Q1 us-gaap Share Based Compensation
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CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
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0 USD
CY2014Q1 us-gaap Proceeds From Stock Options Exercised
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CY2015Q1 us-gaap Proceeds From Stock Options Exercised
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CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2014Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2015Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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0 USD
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2015Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2014 fencf Exchange Of Warrants
ExchangeOfWarrants
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CY2013 us-gaap Net Income Loss
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CY2014Q1 us-gaap Derivative Liabilities
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CY2015Q1 us-gaap Derivative Liabilities
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CY2014Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2015Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2014Q1 us-gaap Increase Decrease In Accounts Payable
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CY2015Q1 us-gaap Increase Decrease In Accounts Payable
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76000 USD
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2015Q1 us-gaap Increase Decrease In Accrued Liabilities
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-87000 USD
CY2014Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 USD
CY2015Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
3000 USD

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