$INTI
Inhibitor Therapeutics, Inc.

2023 Q1 Form 10-K Financial Statement

#000149315223010383 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $428.3K $423.6K $651.8K
YoY Change 358.11% 1377.13% 103.37%
% of Gross Profit
Research & Development $201.4K $0.00 $6.150K
YoY Change -100.0% 25.25%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $629.7K $423.6K $657.9K
YoY Change 573.5% 1373.02% 102.19%
Operating Profit -$629.7K -$657.9K
YoY Change 573.5% 102.19%
Interest Expense -$3.360K $23.23K
YoY Change -30.0% -256.56%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$539.6K $12.42M $12.16M
YoY Change 445.55% -37094.96% -4172.38%
Income Tax $55.11K $55.11K
% Of Pretax Income 0.44% 0.45%
Net Earnings -$539.6K $12.32M $12.11M
YoY Change 445.54% -36813.2% -4153.92%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.03
Diluted Earnings Per Share $0.00 $0.04 $0.03
COMMON SHARES
Basic Shares Outstanding 171.8M shares 376.9M 366.2M shares
Diluted Shares Outstanding 171.8M shares 367.8M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.78M $11.95M $11.95M
YoY Change 29490.94% 38918.02% 38918.02%
Cash & Equivalents $10.78M $12.00M $11.95M
Short-Term Investments
Other Short-Term Assets $52.25K $23.90K $23.90K
YoY Change 111.45% -15.13% -15.13%
Inventory
Prepaid Expenses $52.25K $23.90K
Receivables
Other Receivables
Total Short-Term Assets $10.84M $11.98M $11.98M
YoY Change 17621.93% 20271.4% 20272.78%
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 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $10.84M $11.98M $11.98M
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $10.84M $11.98M $11.98M
YoY Change 17621.93% 20271.4% 20272.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.007K $145.2K $145.2K
YoY Change -98.44% -48.13% -48.13%
Accrued Expenses $73.44K $122.6K $122.6K
YoY Change 260.33% 719.11% 719.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $411.0K $411.0K
YoY Change -100.0% 77.92% 77.92%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $78.44K $678.8K $678.8K
YoY Change -90.55% -0.12% -0.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.000M $3.000M $3.000M
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Liabilities $3.000M $3.000M $3.000M
YoY Change 0.0% 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $78.44K $678.8K $678.8K
Total Long-Term Liabilities $3.000M $3.000M $3.000M
Total Liabilities $3.078M $3.679M $3.679M
YoY Change -19.63% -0.02% -0.02%
SHAREHOLDERS EQUITY
Retained Earnings -$46.29M -$45.75M
YoY Change -20.66%
Common Stock $54.05M $54.05M
YoY Change 7.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.757M $8.296M $8.296M
YoY Change
Total Liabilities & Shareholders Equity $10.84M $11.98M $11.98M
YoY Change 17621.93% 20271.4% 20272.78%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$539.6K $12.32M $12.11M
YoY Change 445.54% -36813.2% -4153.92%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$757.3K $11.90M $11.74M
YoY Change 1613.7% -52607.37% -5426.23%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$411.0K 0.000 $180.0K
YoY Change -922.0% 2.27%
NET CHANGE
Cash From Operating Activities -$757.3K 11.90M $11.74M
Cash From Investing Activities
Cash From Financing Activities -$411.0K 0.000 $180.0K
Net Change In Cash -$1.168M 11.90M $11.92M
YoY Change -20208.14% -52607.37% -26930.07%
FREE CASH FLOW
Cash From Operating Activities -$757.3K $11.90M $11.74M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022 us-gaap Use Of Estimates
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<p id="xdx_843_eus-gaap--UseOfEstimates_zhYSpnrR1e74" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_ziPlZyVyfIt9">Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; 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 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; 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-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INHIBITOR THERAPEUTICS, INC. </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>YEARS ENDED DECEMBER 31, 2022 AND 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary of Significant Accounting Policies – <i>stock-based compensation</i> (continued):</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 24.45pt; text-align: justify; text-indent: 2.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
22850 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
32259 usd
CY2022 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
55109 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
55109 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2514182 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-62713 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
520196 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-12976 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-70951 usd
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-905 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-2908318 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
76594 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
55109 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
742574 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
742574 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3870413 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
6685183 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
78336 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
171884 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
34231 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
34231 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
6061 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
6061 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4731615 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7639933 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4731615 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7639933 usd
CY2022 us-gaap Valuation Allowance Methodologies And Assumptions
ValuationAllowanceMethodologiesAndAssumptions
In accordance with GAAP, it is required that a deferred tax asset be reduced by a valuation allowance if, based on the weight of available evidence it is more likely than not (a likelihood of more than 50 percent) that some portion or all of the deferred tax assets will not be realized
CY2022Q4 INTI Percentage Of Deferred Tax Assets Valuation Allowance
PercentageOfDeferredTaxAssetsValuationAllowance
1 pure
CY2021Q4 INTI Percentage Of Deferred Tax Assets Valuation Allowance
PercentageOfDeferredTaxAssetsValuationAllowance
1 pure
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13349461 shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.10
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
14587 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13349461 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.10
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1072144 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
10773815 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2575646 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.09
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
111774 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2575646 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
111774 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
37990 usd
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0 shares
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
55000 usd

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