2022 Q4 Form 20-F Financial Statement
#000149315223009478 Filed on March 29, 2023
Income Statement
Concept | 2022 Q4 | 2022 | 2021 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 | $1.071M | $4.656M | $1.229M |
YoY Change | -12.86% | -17.75% | -6.89% |
% of Gross Profit | |||
Research & Development | $1.378M | $13.00M | $6.263M |
YoY Change | -78.0% | -52.26% | -30.64% |
% of Gross Profit | |||
Depreciation & Amortization | $9.000K | $35.00K | $10.00K |
YoY Change | -10.0% | -16.67% | 0.0% |
% of Gross Profit | |||
Operating Expenses | $2.449M | $17.65M | $7.492M |
YoY Change | -67.31% | -46.32% | -27.54% |
Operating Profit | |||
YoY Change | |||
Interest Expense | -$190.0K | -$193.0K | $40.00K |
YoY Change | -575.0% | -142.23% | -42.86% |
% of Operating Profit | |||
Other Income/Expense, Net | -$215.0K | ||
YoY Change | 400.0% | ||
Pretax Income | -$2.639M | -$17.87M | -$7.452M |
YoY Change | -64.59% | -44.97% | -27.51% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$2.639M | -$17.87M | -$7.452M |
YoY Change | -64.59% | -44.97% | -27.51% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | $0.71 | ||
Diluted Earnings Per Share | -$0.10 | -$0.71 | -$297.0K |
COMMON SHARES | |||
Basic Shares Outstanding | 25.20M shares | 1.676M shares | |
Diluted Shares Outstanding | 25.14M shares |
Balance Sheet
Concept | 2022 Q4 | 2022 | 2021 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $13.79M | $13.79M | $34.82M |
YoY Change | -60.4% | -60.4% | -31.59% |
Cash & Equivalents | $2.000M | $2.016M | $2.884M |
Short-Term Investments | $11.77M | $11.77M | $31.93M |
Other Short-Term Assets | $114.0K | $815.0K | $114.0K |
YoY Change | 0.0% | -29.74% | 3.64% |
Inventory | |||
Prepaid Expenses | $701.0K | $1.046M | |
Receivables | $825.0K | $1.125M | |
Other Receivables | $825.0K | $0.00 | |
Total Short-Term Assets | $14.72M | $14.72M | $36.05M |
YoY Change | -59.16% | -59.16% | -30.41% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $114.0K | $337.0K | $551.0K |
YoY Change | -79.31% | -38.84% | -3.33% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $1.500M | $1.500M | |
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $1.837M | $1.837M | $551.0K |
YoY Change | 233.39% | 233.39% | -3.33% |
TOTAL ASSETS | |||
Total Short-Term Assets | $14.72M | $14.72M | $36.05M |
Total Long-Term Assets | $1.837M | $1.837M | $551.0K |
Total Assets | $16.56M | $16.56M | $36.61M |
YoY Change | -54.76% | -54.76% | -30.12% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.560M | $2.560M | $4.871M |
YoY Change | -47.44% | -47.44% | -30.91% |
Accrued Expenses | |||
YoY Change | |||
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 | $3.094M | $3.094M | $5.879M |
YoY Change | -47.37% | -47.37% | -26.6% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $44.00K | $44.00K | $229.0K |
YoY Change | -80.79% | -80.79% | 4.09% |
Total Long-Term Liabilities | $44.00K | $44.00K | $229.0K |
YoY Change | -80.79% | -80.79% | 4.09% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.094M | $3.094M | $5.879M |
Total Long-Term Liabilities | $44.00K | $44.00K | $229.0K |
Total Liabilities | $3.138M | $3.138M | $6.108M |
YoY Change | -48.62% | -48.62% | -25.78% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$186.0M | -$168.2M | |
YoY Change | 10.6% | ||
Common Stock | $70.00K | $70.00K | |
YoY Change | 0.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $13.42M | $13.42M | $30.50M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $16.56M | $16.56M | $36.61M |
YoY Change | -54.76% | -54.76% | -30.12% |
Cashflow Statement
Concept | 2022 Q4 | 2022 | 2021 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.639M | -$17.87M | -$7.452M |
YoY Change | -64.59% | -44.97% | -27.51% |
Depreciation, Depletion And Amortization | $9.000K | $35.00K | $10.00K |
YoY Change | -10.0% | -16.67% | 0.0% |
Cash From Operating Activities | -$4.024M | -$18.50M | -$6.990M |
YoY Change | -42.43% | -43.75% | -10.84% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $1.000K | $4.000K | -$1.000K |
YoY Change | -200.0% | -136.36% | -90.0% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $1.980M | $17.57M | $6.386M |
YoY Change | -68.99% | 53.12% | -445.19% |
Cash From Investing Activities | $1.979M | $17.56M | $6.385M |
YoY Change | -69.01% | 53.23% | -443.28% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | $70.00K | 0.000 |
YoY Change | -99.6% | ||
NET CHANGE | |||
Cash From Operating Activities | -4.024M | -$18.50M | -6.990M |
Cash From Investing Activities | 1.979M | $17.56M | 6.385M |
Cash From Financing Activities | 0.000 | $70.00K | 0.000 |
Net Change In Cash | -2.045M | -$868.0K | -605.0K |
YoY Change | 238.02% | -78.63% | -93.76% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$4.024M | -$18.50M | -$6.990M |
Capital Expenditures | $1.000K | $4.000K | -$1.000K |
Free Cash Flow | -$4.025M | -$18.51M | -$6.989M |
YoY Change | -42.41% | -43.72% | -10.74% |
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|
44153000 | usd |
CY2021 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
1886000 | usd |
CY2021 | GLMD |
Issuance Of Ordinary Shares In At The Market At Offering Net Of Issuance Costs
IssuanceOfOrdinarySharesInAtTheMarketAtOfferingNetOfIssuanceCosts
|
8147000 | usd |
CY2021 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
9221000 | usd |
CY2021 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-443000 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-32467000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
30497000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
30497000 | usd |
CY2022 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
1296000 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
70000 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-574000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-17866000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13423000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13423000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-17866000 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-32467000 | usd |
CY2020 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-28771000 | usd |
CY2022 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
35000 | usd |
CY2021 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
42000 | usd |
CY2020 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
39000 | usd |
CY2022 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-2000 | usd |
CY2021 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
121000 | usd |
CY2020 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
90000 | usd |
CY2022 | us-gaap |
Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
|
-523000 | usd |
CY2021 | us-gaap |
Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
|
37000 | usd |
CY2020 | us-gaap |
Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
|
527000 | usd |
CY2022 | GLMD |
Proceeds Finance Lease Interest Expense
ProceedsFinanceLeaseInterestExpense
|
-36000 | usd |
CY2021 | GLMD |
Proceeds Finance Lease Interest Expense
ProceedsFinanceLeaseInterestExpense
|
6000 | usd |
CY2020 | GLMD |
Proceeds Finance Lease Interest Expense
ProceedsFinanceLeaseInterestExpense
|
31000 | usd |
CY2021 | GLMD |
Interest Income From Shortterm Deposits
InterestIncomeFromShorttermDeposits
|
-7000 | usd |
CY2020 | GLMD |
Interest Income From Shortterm Deposits
InterestIncomeFromShorttermDeposits
|
285000 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1296000 | usd |
CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1886000 | usd |
CY2020 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2066000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
-300000 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
313000 | usd |
CY2020 | us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
-15000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-2311000 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-2175000 | usd |
CY2020 | us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
1047000 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
-440000 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
38000 | usd |
CY2020 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
8000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-18501000 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-32892000 | usd |
CY2020 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-26287000 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4000 | usd |
CY2021 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
11000 | usd |
CY2020 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
44000 | usd |
CY2021 | GLMD |
Increase Decrease In Restricted Deposits
IncreaseDecreaseInRestrictedDeposits
|
1000 | usd |
CY2022 | GLMD |
Payments For Investment In Available For Sale Securities
PaymentsForInvestmentInAvailableForSaleSecurities
|
2373000 | usd |
CY2021 | GLMD |
Payments For Investment In Available For Sale Securities
PaymentsForInvestmentInAvailableForSaleSecurities
|
13569000 | usd |
CY2020 | GLMD |
Payments For Investment In Available For Sale Securities
PaymentsForInvestmentInAvailableForSaleSecurities
|
55034000 | usd |
CY2022 | GLMD |
Payments For Proceeds From Investment In Convertible Note
PaymentsForProceedsFromInvestmentInConvertibleNote
|
1500000 | usd |
CY2022 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
21440000 | usd |
CY2021 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
21243000 | usd |
CY2020 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
47198000 | usd |
CY2021 | us-gaap |
Proceeds From Other Deposits
ProceedsFromOtherDeposits
|
3800000 | usd |
CY2020 | us-gaap |
Proceeds From Other Deposits
ProceedsFromOtherDeposits
|
24416000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
17563000 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
11462000 | usd |
CY2020 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
16536000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
70000 | usd |
CY2021 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
8147000 | usd |
CY2021 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
9221000 | usd |
CY2020 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
707000 | usd |
CY2020 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
61000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
70000 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
17368000 | usd |
CY2020 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
768000 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-868000 | usd |
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-4062000 | usd |
CY2020 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-8983000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2998000 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
7060000 | usd |
CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
16043000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2130000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2998000 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
7060000 | usd |
CY2022 | us-gaap |
Interest Paid Net
InterestPaidNet
|
297000 | usd |
CY2021 | us-gaap |
Interest Paid Net
InterestPaidNet
|
562000 | usd |
CY2020 | us-gaap |
Interest Paid Net
InterestPaidNet
|
1192000 | usd |
CY2021 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
199000 | usd |
CY2020 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
35000 | usd |
CY2022 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2013-07-31 | |
CY2022 | us-gaap |
Operations Commenced Date1
OperationsCommencedDate1
|
2014-02-02 | |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2000000.0 | usd |
CY2022Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
100000 | usd |
CY2022Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
11800000 | usd |
CY2020 | us-gaap |
Profit Loss
ProfitLoss
|
-28800000 | usd |
CY2021 | us-gaap |
Profit Loss
ProfitLoss
|
-32400000 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
-17900000 | usd |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-186000000.0 | usd |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_841_eus-gaap--UseOfEstimates_zGC88t4TgBf6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_zRbxC7nRehei">Use of estimates</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GALMED PHARMACEUTICALS LTD.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Consolidated Financial Statements</b></span></p> <div style="margin-left: auto; margin-right: auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt"> </div></div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b/></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 2 – Significant Accounting Policies (Cont.)</b></span></p> | |
CY2022 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_zqHMt5EWPiVb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>H.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_zzLALJroNIc">Concentrations of credit risk</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments which potentially subject the Company to credit risk consist primarily of cash, cash equivalents and marketable securities. The Company hold these investments in highly-rated financial institutions, and, by policy, limit the amounts of credit exposure to any one financial institution. These amounts at times may exceed federally insured limits. The Company has not experienced any credit losses in such accounts and does not believe we are exposed to any significant credit risk on these funds. The Company has no off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts, or other hedging arrangements.</span></p> | |
CY2022 | GLMD |
Monthly Deposits Of Employees Percentage On Monthly Salary
MonthlyDepositsOfEmployeesPercentageOnMonthlySalary
|
0.0833 | pure |
CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
11769000 | usd |
CY2021Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
31931000 | usd |
CY2022Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
12514000 | usd |
CY2022 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
|
30000 | usd |
CY2022 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
775000 | usd |
CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
11769000 | usd |
CY2021Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
32102000 | usd |
CY2021 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
|
67000 | usd |
CY2021 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
238000 | usd |
CY2021Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
31931000 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
701000 | usd |
CY2021Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
1046000 | usd |
CY2022Q4 | GLMD |
Receivables From Government Institutions
ReceivablesFromGovernmentInstitutions
|
124000 | usd |
CY2021Q4 | GLMD |
Receivables From Government Institutions
ReceivablesFromGovernmentInstitutions
|
79000 | usd |
CY2022Q4 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
825000 | usd |
CY2021Q4 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
1125000 | usd |
CY2022Q4 | us-gaap |
Area Of Land
AreaOfLand
|
590 | sqft |
CY2022 | us-gaap |
Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
|
two additional options to extend until March 22, 2023 | |
CY2022 | us-gaap |
Payments For Leasing Costs
PaymentsForLeasingCosts
|
134508 | ils |
CY2022 | us-gaap |
Cost Maintenance
CostMaintenance
|
144476 | ils |
CY2022Q4 | us-gaap |
Lease Deposit Liability
LeaseDepositLiability
|
50000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
223000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
216000 | usd |
CY2021Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
406000 | usd |
CY2021Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
435000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y2M8D | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.023 | pure |
CY2022Q4 | us-gaap |
Contractual Obligation
ContractualObligation
|
223000 | usd |
CY2022Q4 | us-gaap |
Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
|
182000 | usd |
CY2022Q4 | us-gaap |
Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
|
35000 | usd |
CY2022Q4 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
737000 | usd |
CY2021Q4 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
737000 | usd |
CY2022Q4 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
54000 | usd |
CY2021Q4 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
56000 | usd |
CY2022Q4 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
76000 | usd |
CY2021Q4 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
78000 | usd |
CY2022Q4 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
235000 | usd |
CY2021Q4 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
231000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1102000 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1102000 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
988000 | usd |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
957000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
114000 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
145000 | usd |
CY2022 | us-gaap |
Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
|
2800000 | usd |
CY2021 | us-gaap |
Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
|
4100000 | usd |
CY2020 | us-gaap |
Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
|
3500000 | usd |
CY2022 | GLMD |
Bank Lien On Marketable Securities
BankLienOnMarketableSecurities
|
114000 | usd |
CY2021Q2 | GLMD |
Upfront License Fee
UpfrontLicenseFee
|
100000 | usd |
CY2020Q2 | GLMD |
Maximum Amount Of Shares To Be Issued Offering
MaximumAmountOfSharesToBeIssuedOffering
|
31900000 | usd |
CY2021Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
18736 | shares |
CY2021Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
1000 | usd |
CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
45000 | shares |
CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
4.16 | |
CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P10Y | |
CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P4Y | |
CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
|
100000 | usd |
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
100000 | shares |
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
3.10 | |
CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P10Y | |
CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P3Y | |
CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
|
200000 | usd |
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
37500 | shares |
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
2.83 | |
CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P10Y | |
CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P3Y | |
CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
|
10000.00 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
40000 | shares |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
1.61 | |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P10Y | |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P4Y | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
2192962 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
0.37 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
324784 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
200000 | usd |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
333532 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
600000 | usd |
CY2022 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
12995000 | usd |
CY2021 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
27220000 | usd |
CY2020 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
26082000 | usd |
CY2022 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4656000 | usd |
CY2021 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5661000 | usd |
CY2020 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4128000 | usd |
CY2022 | GLMD |
Bank Fees
BankFees
|
-22000 | usd |
CY2021 | GLMD |
Bank Fees
BankFees
|
-43000 | usd |
CY2020 | GLMD |
Bank Fees
BankFees
|
-31000 | usd |
CY2022 | GLMD |
Interest Income
InterestIncome
|
-297000 | usd |
CY2021 | GLMD |
Interest Income
InterestIncome
|
-562000 | usd |
CY2020 | GLMD |
Interest Income
InterestIncome
|
-1192000 | usd |
CY2022 | us-gaap |
Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
|
526000 | usd |
CY2021 | us-gaap |
Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
|
80000 | usd |
CY2020 | us-gaap |
Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
|
-397000 | usd |
CY2022 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-36000 | usd |
CY2021 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
25000 | usd |
CY2020 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
119000 | usd |
CY2022 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-215000 | usd |
CY2021 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
414000 | usd |
CY2020 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1439000 | usd |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
152200000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
|
152000000 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-17866000 | usd |
CY2021 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-32467000 | usd |
CY2020 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-28771000 | usd |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.12 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.12 | pure |
CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.12 | pure |
CY2022 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
2144000 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
3896000 | usd |
CY2020 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
3453000 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-2144000 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-3896000 | usd |
CY2020 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-3453000 | usd |