$IMUX
Immunic Inc

2014 Q4 Form 10-Q Financial Statement

#000119312514411127 Filed on November 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.130M $2.570M $3.000M
YoY Change 20.85% -14.33% 167.86%
% of Gross Profit
Research & Development $10.89M $10.24M $6.163M
YoY Change 42.35% 66.22% 389.13%
% of Gross Profit
Depreciation & Amortization $240.0K $310.0K $256.0K
YoY Change 4.35% 21.09% 156.0%
% of Gross Profit
Operating Expenses $14.02M $12.81M $9.165M
YoY Change 36.79% 39.77% 285.08%
Operating Profit -$12.81M -$9.165M
YoY Change 39.77% 285.08%
Interest Expense $10.00K $10.00K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net $60.00K $12.00K $2.188M
YoY Change 500.0% -99.45% 21780.0%
Pretax Income -$13.96M -$12.80M -$6.980M
YoY Change 36.33% 83.38% 162.41%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$13.95M -$12.80M -$6.977M
YoY Change 36.28% 83.43% 162.29%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$23.66M -$23.70M -$13.17M
COMMON SHARES
Basic Shares Outstanding 23.85M shares 21.79M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $102.2M $79.10M $31.20M
YoY Change 167.54% 153.53%
Cash & Equivalents $102.2M $79.09M $31.16M
Short-Term Investments $0.00
Other Short-Term Assets $2.600M $3.500M $4.200M
YoY Change -54.39% -16.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $104.8M $82.58M $35.40M
YoY Change 139.01% 133.29%
LONG-TERM ASSETS
Property, Plant & Equipment $3.068M $2.985M $2.400M
YoY Change 24.36% 24.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $198.0K $263.0K $200.0K
YoY Change -24.71% 31.5%
Total Long-Term Assets $3.266M $3.248M $2.600M
YoY Change 19.63% 24.92%
TOTAL ASSETS
Total Short-Term Assets $104.8M $82.58M $35.40M
Total Long-Term Assets $3.266M $3.248M $2.600M
Total Assets $108.1M $85.83M $38.00M
YoY Change 132.01% 125.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.153M $696.0K $1.700M
YoY Change -5.8% -59.06%
Accrued Expenses $8.875M $7.530M $3.300M
YoY Change 172.83% 128.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K
YoY Change
Total Short-Term Liabilities $10.28M $8.498M $7.600M
YoY Change 38.03% 11.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $241.0K $283.0K $400.0K
YoY Change -24.92% -29.25%
Total Long-Term Liabilities $241.0K $283.0K $400.0K
YoY Change -24.92% -29.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.28M $8.498M $7.600M
Total Long-Term Liabilities $241.0K $283.0K $400.0K
Total Liabilities $10.52M $8.781M $8.000M
YoY Change 35.43% 9.76%
SHAREHOLDERS EQUITY
Retained Earnings -$150.8M -$136.9M
YoY Change 46.2%
Common Stock $2.000K $2.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $97.56M $77.05M $30.00M
YoY Change
Total Liabilities & Shareholders Equity $108.1M $85.83M $38.00M
YoY Change 132.01% 125.87%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income -$13.95M -$12.80M -$6.977M
YoY Change 36.28% 83.43% 162.29%
Depreciation, Depletion And Amortization $240.0K $310.0K $256.0K
YoY Change 4.35% 21.09% 156.0%
Cash From Operating Activities -$10.40M -$11.19M -$8.100M
YoY Change 2.56% 38.15% 335.48%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K -$320.0K -$620.0K
YoY Change -86.67% -48.39% 287.5%
Acquisitions
YoY Change
Other Investing Activities -$140.0K -$220.0K $4.900M
YoY Change -36.36% -104.49% 12150.0%
Cash From Investing Activities -$180.0K -$540.0K $4.270M
YoY Change -65.38% -112.65% -3658.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $32.90M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 33.72M -10.00K -1.450M
YoY Change 90.62% -99.31% -112.85%
NET CHANGE
Cash From Operating Activities -10.40M -11.19M -8.100M
Cash From Investing Activities -180.0K -540.0K 4.270M
Cash From Financing Activities 33.72M -10.00K -1.450M
Net Change In Cash 23.14M -11.74M -5.280M
YoY Change 229.16% 122.35% -156.77%
FREE CASH FLOW
Cash From Operating Activities -$10.40M -$11.19M -$8.100M
Capital Expenditures -$40.00K -$320.0K -$620.0K
Free Cash Flow -$10.36M -$10.87M -$7.480M
YoY Change 5.28% 45.32% 340.0%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with GAAP requires us to make certain estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates and assumptions.</p> </div>
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
406000
us-gaap Operating Income Loss
OperatingIncomeLoss
-36325000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-33713000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2613000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1365000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-91000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-42866000
us-gaap Net Income Loss
NetIncomeLoss
-33712000
us-gaap Investment Income Interest
InvestmentIncomeInterest
13000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
853000
us-gaap Operating Expenses
OperatingExpenses
36325000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
18167000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28589000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
40905000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
596000
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
4410000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
73195000
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
4744000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
110796000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3719000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1857000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-1000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7736000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-142000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
55046000
us-gaap Share Based Compensation
ShareBasedCompensation
1765000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0
vtl Release Of Repurchase Liability For Stock Options Shares Vested During Period
ReleaseOfRepurchaseLiabilityForStockOptionsSharesVestedDuringPeriod
78000
vtl Beneficial Conversion Feature Value
BeneficialConversionFeatureValue
878000
vtl Gain Loss On Revaluation Of Future Purchase Rights Liabilities
GainLossOnRevaluationOfFuturePurchaseRightsLiabilities
2600000
vtl Deemed Dividends
DeemedDividends
4700000
vtl Operating Lease Agreements Expiration Year
OperatingLeaseAgreementsExpirationYear
2017
vtl Fair Value Assets Between Hierarchy Levels Transfers Amount
FairValueAssetsBetweenHierarchyLevelsTransfersAmount
0
vtl Deferred Financing Costs Included In Liabilities
DeferredFinancingCostsIncludedInLiabilities
410000
CY2013 us-gaap Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
P2Y29D
CY2013 us-gaap Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
0.850 pure
CY2013 us-gaap Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
0.000 pure
CY2013 us-gaap Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
0.0038 pure
CY2013 vtl Fair Value Assumptions Number Of Nodes
FairValueAssumptionsNumberOfNodes
25 Nodes
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
553790 shares
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-16.31
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-9165000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-6976000
CY2013Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1000
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2188000
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5000
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9034000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-6977000
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
1000
CY2013Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
256000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
9165000
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6163000
CY2013Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
169000
CY2013Q3 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
2047000
CY2013Q3 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
10000
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3002000
CY2013Q3 vtl Gain Loss On Revaluation Of Future Purchase Rights Liabilities
GainLossOnRevaluationOfFuturePurchaseRightsLiabilities
2192000
CY2013Q3 vtl Deemed Dividends
DeemedDividends
10000
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21759061 shares
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.59
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-12810000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12798000
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
12000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12798000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-12798000
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
5000
CY2014Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
310000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
12810000
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10244000
CY2014Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
203000
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2566000
CY2014Q3 vtl Deemed Dividends
DeemedDividends
0

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