2014 Q2 Form 10-Q Financial Statement

#000110465914034647 Filed on May 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $475.0K $456.0K $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.750M $5.180M $4.820M
YoY Change -1.66% 7.47% 17.56%
% of Gross Profit
Research & Development $9.978M $9.992M $11.99M
YoY Change -6.97% -16.66% -14.39%
% of Gross Profit
Depreciation & Amortization $400.0K $410.0K $440.0K
YoY Change -11.11% -6.82% 4.76%
% of Gross Profit
Operating Expenses $14.74M $16.08M $17.25M
YoY Change -7.9% -6.81% -6.85%
Operating Profit -$14.27M -$15.62M -$17.25M
YoY Change -10.87% -9.45% 60.55%
Interest Expense $374.0K $355.0K $10.00K
YoY Change 4055.56% 3450.0% -76.74%
% of Operating Profit
Other Income/Expense, Net -$10.00K -$9.000K $0.00
YoY Change
Pretax Income -$14.61M -$15.94M -$17.46M
YoY Change -4.81% -8.68% 32.89%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$14.61M -$15.94M -$17.46M
YoY Change -4.79% -8.68% 32.89%
Net Earnings / Revenue -3076.63% -3496.27%
Basic Earnings Per Share
Diluted Earnings Per Share -$217.4K -$247.7K -$351.9K
COMMON SHARES
Basic Shares Outstanding 64.34M shares 62.26M shares 49.63M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $78.00M $71.70M $84.80M
YoY Change 5.12% -15.45% -21.63%
Cash & Equivalents $41.90M $27.53M $26.74M
Short-Term Investments $36.10M $44.10M $58.00M
Other Short-Term Assets $951.0K $1.758M $1.753M
YoY Change -51.92% 0.29% -37.15%
Inventory
Prepaid Expenses
Receivables $500.0K $0.00 $1.300M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $79.42M $73.45M $87.81M
YoY Change 2.91% -16.36% -23.83%
LONG-TERM ASSETS
Property, Plant & Equipment $3.444M $3.748M $4.962M
YoY Change -26.96% -24.47% -2.19%
Goodwill $11.61M $11.61M
YoY Change
Intangibles $23.00M $23.00M
YoY Change
Long-Term Investments
YoY Change
Other Assets $515.0K $546.0K $442.0K
YoY Change 16.52% 23.53% 0.0%
Total Long-Term Assets $38.57M $38.91M $5.404M
YoY Change 647.95% 619.97% -2.01%
TOTAL ASSETS
Total Short-Term Assets $79.42M $73.45M $87.81M
Total Long-Term Assets $38.57M $38.91M $5.404M
Total Assets $118.0M $112.4M $93.22M
YoY Change 43.31% 20.53% -22.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.900M $9.200M $6.400M
YoY Change 10.0% 43.75% -23.81%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.300M $200.0K $400.0K
YoY Change 225.0% -50.0% -63.64%
Total Short-Term Liabilities $11.17M $9.366M $7.995M
YoY Change 12.08% 17.15% -55.0%
LONG-TERM LIABILITIES
Long-Term Debt $13.10M $14.20M $200.0K
YoY Change 13000.0% 7000.0% -66.67%
Other Long-Term Liabilities $748.0K $723.0K $31.70M
YoY Change -97.71% -97.72% 46.08%
Total Long-Term Liabilities $748.0K $723.0K $31.90M
YoY Change -97.72% -97.73% 43.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.17M $9.366M $7.995M
Total Long-Term Liabilities $748.0K $723.0K $31.90M
Total Liabilities $11.92M $10.09M $39.90M
YoY Change -72.15% -74.71% -0.25%
SHAREHOLDERS EQUITY
Retained Earnings -$409.1M -$394.5M -$336.3M
YoY Change 16.32% 17.28% 18.75%
Common Stock $445.4M $425.5M $389.7M
YoY Change 13.84% 9.21% 7.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $36.31M $31.08M $53.34M
YoY Change
Total Liabilities & Shareholders Equity $118.0M $112.4M $93.22M
YoY Change 43.31% 20.53% -22.84%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$14.61M -$15.94M -$17.46M
YoY Change -4.79% -8.68% 32.89%
Depreciation, Depletion And Amortization $400.0K $410.0K $440.0K
YoY Change -11.11% -6.82% 4.76%
Cash From Operating Activities -$11.82M -$10.22M -$13.90M
YoY Change 15.2% -26.47% 72.89%
INVESTING ACTIVITIES
Capital Expenditures -$90.00K $40.00K $372.0K
YoY Change -57.14% -89.25% -87.93%
Acquisitions
YoY Change
Other Investing Activities $8.030M -$5.760M $7.140M
YoY Change 10.0% -180.67% -113.32%
Cash From Investing Activities $7.930M -$5.800M $6.770M
YoY Change 11.69% -185.67% -111.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 18.26M -90.00K -100.0K
YoY Change -18360.0% -10.0% -100.16%
NET CHANGE
Cash From Operating Activities -11.82M -10.22M -13.90M
Cash From Investing Activities 7.930M -5.800M 6.770M
Cash From Financing Activities 18.26M -90.00K -100.0K
Net Change In Cash 14.37M -16.11M -7.230M
YoY Change -540.8% 122.82% 528.7%
FREE CASH FLOW
Cash From Operating Activities -$11.82M -$10.22M -$13.90M
Capital Expenditures -$90.00K $40.00K $372.0K
Free Cash Flow -$11.73M -$10.26M -$14.27M
YoY Change 16.72% -28.11% 28.32%

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5000000 USD
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110000 USD
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3356000 USD
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264000 USD
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5611000 USD
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19641000 USD
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375084000 USD
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27533000 USD
us-gaap Interest Paid
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2355000 USD
us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
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386000 USD
fold Conversion Of Notes Payable To Preferred Stock
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5000000 USD
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26998000 USD
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148951000 USD
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802000 USD
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19424000 USD
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1574000 USD
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1267000 USD
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34135000 USD
CY2013Q1 us-gaap Warrants And Rights Outstanding
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1200000 USD
CY2013Q4 us-gaap Available For Sale Securities Amortized Cost
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38359000 USD
CY2014Q1 us-gaap Available For Sale Securities Amortized Cost
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44119000 USD
CY2014Q1 us-gaap Secured Debt Current
SecuredDebtCurrent
199000 USD
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36677000 USD
CY2014Q1 us-gaap Secured Long Term Debt
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14216000 USD
CY2014Q1 us-gaap Business Combination Contingent Consideration Liability
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11105000 USD
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9186000 USD
CY2014Q1 us-gaap Other Liabilities Noncurrent
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723000 USD
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703000 USD
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13000 USD
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17839000 USD
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11600000 USD
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23000000 USD
CY2014Q1 fold Research Revenue
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456000 USD
CY2014Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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505000 USD
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
505000 USD
CY2014Q1 us-gaap Restructuring Charges
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CY2014Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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0 USD
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372000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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6765000 USD
CY2014Q1 us-gaap Proceeds From Stock Options Exercised
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15000 USD
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NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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CY2013Q1 us-gaap Interest Paid
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7000 USD
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208000 USD
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59000 USD
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1260000 USD
CY2014Q1 us-gaap Increase Decrease In Due From Related Parties Current
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11465000 USD
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17227000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
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40000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2014Q1 us-gaap Repayments Of Secured Debt
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100000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Continuing Operations
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33971000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26736000 USD

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