$IOVA
IOVANCE BIOTHERAPEUTICS, INC.

2015 Q1 Form 10-K Financial Statement

#000114420415016315 Filed on March 16, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 2013 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 $1.470M $3.810M $390.0K
YoY Change 37.38% 38.55% -84.46%
% of Gross Profit
Research & Development $2.398M $3.849M $560.0K
YoY Change 692.3% 78.69% 124.0%
% of Gross Profit
Depreciation & Amortization $190.0K $100.0K $10.00K
YoY Change 850.0% 1328.57% 0.0%
% of Gross Profit
Operating Expenses $5.298M $12.04M $11.50M
YoY Change 134.48% -46.82% 568.6%
Operating Profit -$5.298M -$12.04M
YoY Change -46.82%
Interest Expense -$5.660K $0.00
YoY Change -101.27% -100.0%
% of Operating Profit
Other Income/Expense, Net $6.000K
YoY Change -100.22%
Pretax Income -$5.300M -$12.03M -$11.50M
YoY Change 134.51% -52.6% -431.41%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.298M -$12.04M -$11.50M
YoY Change 134.42% -52.58% -431.41%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$140.7K -$481.4K -$641.0K
COMMON SHARES
Basic Shares Outstanding 44.08M shares 18.89M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $111.3M $44.90M $19.70M
YoY Change 518.33% 127.92%
Cash & Equivalents $111.3M $44.90M $19.67M
Short-Term Investments $0.00
Other Short-Term Assets $100.0K $100.0K $200.0K
YoY Change 0.0% -50.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $111.4M $45.00M $19.85M
YoY Change 515.52% 127.27%
LONG-TERM ASSETS
Property, Plant & Equipment $2.128M $1.500M $27.76K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.128M $1.500M $27.76K
YoY Change 1400.0%
TOTAL ASSETS
Total Short-Term Assets $111.4M $45.00M $19.85M
Total Long-Term Assets $2.128M $1.500M $27.76K
Total Assets $113.5M $46.50M $19.87M
YoY Change 527.28% 133.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.107M $1.200M $413.0K
YoY Change 269.12% 200.0% -62.46%
Accrued Expenses $717.8K $300.0K $1.518M
YoY Change -10.27% -84.21% -60.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.911M $1.700M $2.270M
YoY Change 73.7% -26.09% -79.91%
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 -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.911M $1.700M $2.270M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.900M $1.700M $2.300M
YoY Change 46.15% -26.09% -79.65%
SHAREHOLDERS EQUITY
Retained Earnings -$81.86M -$64.53M
YoY Change
Common Stock $1.870K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $111.6M $44.80M $17.60M
YoY Change
Total Liabilities & Shareholders Equity $113.5M $46.50M $19.87M
YoY Change 527.28% 133.67%

Cashflow Statement

Concept 2015 Q1 2014 2013 Q4
OPERATING ACTIVITIES
Net Income -$5.298M -$12.04M -$11.50M
YoY Change 134.42% -52.58% -431.41%
Depreciation, Depletion And Amortization $190.0K $100.0K $10.00K
YoY Change 850.0% 1328.57% 0.0%
Cash From Operating Activities $3.459M $8.633M -$2.250M
YoY Change -252.36% -335.88%
INVESTING ACTIVITIES
Capital Expenditures $782.0K $1.592M $0.00
YoY Change 22652.4% 12146.15%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$780.0K -$1.590M $0.00
YoY Change 15800.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $68.31M $32.24M
YoY Change 352.43%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 70.61M 35.46M 21.80M
YoY Change 12975.93% 51.86%
NET CHANGE
Cash From Operating Activities $3.459M $8.633M -2.250M
Cash From Investing Activities -780.0K -1.590M 0.000
Cash From Financing Activities 70.61M 35.46M 21.80M
Net Change In Cash $3.459M $8.633M 19.55M
YoY Change -299.92% -56.13%
FREE CASH FLOW
Cash From Operating Activities $3.459M $8.633M -$2.250M
Capital Expenditures $782.0K $1.592M $0.00
Free Cash Flow $2.677M $7.041M -$2.250M
YoY Change -217.74% -291.7%

Facts In Submission

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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-SIZE: 10pt">Use of Estimates</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-SIZE: 10pt">&#160;</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include accounting for potential liabilities and the assumptions made in valuing stock instruments issued for services.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><i>Concentrations</i></b></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" align="justify">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;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" align="justify">The Company maintains cash balances at one bank. At times, the amount on deposit exceeds the federally insured limits. Management believes that the financial institution that holds the Company&#8217;s cash is financially sound and, accordingly, minimal credit risk exists. As of December 31, 2014 and 2013, the Company&#8217;s cash balances were in excess of insured limits maintained at the bank.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2014 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
32240422 USD
CY2013Q4 lbio Common Stock To Be Issued Value
CommonStockToBeIssuedValue
245153 USD
CY2014Q4 lbio Common Stock To Be Issued Value
CommonStockToBeIssuedValue
245153 USD
CY2011Q1 lbio Warrant Expiration Period
WarrantExpirationPeriod
P10Y
CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements State And Local
EffectiveIncomeTaxRateReconciliationTaxSettlementsStateAndLocal
-0.05 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements State And Local
EffectiveIncomeTaxRateReconciliationTaxSettlementsStateAndLocal
-0.05 pure
CY2013 lbio Effective Income Tax Rate Reconciliation Expected Rate Total1
EffectiveIncomeTaxRateReconciliationExpectedRateTotal1
-0.39 pure
CY2014 lbio Effective Income Tax Rate Reconciliation Expected Rate Total1
EffectiveIncomeTaxRateReconciliationExpectedRateTotal1
-0.39 pure
CY2013 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
43650 USD
CY2014 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-253231 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
43758 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1635789 USD
CY2013 us-gaap Depreciation
Depreciation
7087 USD
CY2014 us-gaap Depreciation
Depreciation
88221 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
125316 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
129075 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
132948 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
135936 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
141044 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
664319 USD
CY2013 lbio Stock Issued During Period Value For Settlement Of Notes Payable And Accrued Liabilities
StockIssuedDuringPeriodValueForSettlementOfNotesPayableAndAccruedLiabilities
9267641 USD
CY2013 us-gaap Stock Issued During Period Value Issued For Cash
StockIssuedDuringPeriodValueIssuedForCash
1240010 USD
CY2013 us-gaap Stock Issued During Period Value Issued For Noncash Considerations
StockIssuedDuringPeriodValueIssuedForNoncashConsiderations
122734 USD
CY2013 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
16656250 USD
CY2013 lbio Stock Issued During Period Value To Directors
StockIssuedDuringPeriodValueToDirectors
2002982 USD
CY2013 lbio Stock Issued During Period Shares For Settlement Of Payable
StockIssuedDuringPeriodSharesForSettlementOfPayable
25000 USD
CY2013 lbio Preferred Stock Sold In Private Placement Value
PreferredStockSoldInPrivatePlacementValue
15908760 USD
CY2013 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
0 USD

Files In Submission

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0001144204-15-016315.txt Edgar Link pending
0001144204-15-016315-xbrl.zip Edgar Link pending
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lbio-20141231.xml Edgar Link completed
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lbio-20141231_lab.xml Edgar Link unprocessable
lbio-20141231_pre.xml Edgar Link unprocessable
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