$IRD
Opus Genetics, Inc.

2021 Q1 Form 10-Q Financial Statement

#000114036121016458 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00 $1.150M
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.700M $1.260M
YoY Change 34.92% -25.44%
% of Gross Profit
Research & Development $3.482M $456.8K
YoY Change 662.28% -79.63%
% of Gross Profit
Depreciation & Amortization $1.000K $5.000K
YoY Change -80.0% -50.0%
% of Gross Profit
Operating Expenses $5.186M $2.735M
YoY Change 89.62% -30.54%
Operating Profit -$5.186M -$2.735M
YoY Change 89.62% -30.54%
Interest Expense $0.00 $554.0K
YoY Change -100.0% -65.16%
% of Operating Profit
Other Income/Expense, Net $1.000K -$23.97K
YoY Change -104.17% -101.5%
Pretax Income -$39.01M -$3.088M
YoY Change 1163.41% 31.8%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$39.01M -$3.088M
YoY Change 1163.41% 31.8%
Net Earnings / Revenue -268.52%
Basic Earnings Per Share -$3.57 -$0.87
Diluted Earnings Per Share -$3.57 -$0.87
COMMON SHARES
Basic Shares Outstanding 10.92M 3.548M
Diluted Shares Outstanding 10.92M 3.548M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.60M $11.00M
YoY Change -3.64% -38.96%
Cash & Equivalents $10.60M $1.253M
Short-Term Investments $0.00
Other Short-Term Assets $26.00K $290.0K
YoY Change -91.03% -29.3%
Inventory
Prepaid Expenses $1.402M
Receivables
Other Receivables
Total Short-Term Assets $12.11M $11.29M
YoY Change 7.3% -40.56%
LONG-TERM ASSETS
Property, Plant & Equipment $13.00K $66.52K
YoY Change -80.46% -32.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $30.00K
YoY Change 0.0%
Other Assets
YoY Change
Total Long-Term Assets $13.00K $264.1K
YoY Change -95.08% -39.0%
TOTAL ASSETS
Total Short-Term Assets $12.11M $11.29M
Total Long-Term Assets $13.00K $264.1K
Total Assets $12.13M $11.55M
YoY Change 4.96% -40.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.415M $890.0K
YoY Change 58.99% -4.3%
Accrued Expenses $895.0K $490.0K
YoY Change 82.65% -65.73%
Deferred Revenue $600.0K
YoY Change 300.0%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.310M $1.982M
YoY Change 16.57% -21.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $130.0K
YoY Change -100.0% -86.73%
Total Long-Term Liabilities $0.00 $130.0K
YoY Change -100.0% -86.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.310M $1.982M
Total Long-Term Liabilities $0.00 $130.0K
Total Liabilities $2.310M $2.108M
YoY Change 9.61% -39.53%
SHAREHOLDERS EQUITY
Retained Earnings -$71.69M -$163.9M
YoY Change -56.26% 4.38%
Common Stock $1.000K $173.4M
YoY Change -100.0% 0.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.816M -$8.461M
YoY Change
Total Liabilities & Shareholders Equity $12.13M $11.55M
YoY Change 4.96% -40.53%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$39.01M -$3.088M
YoY Change 1163.41% 31.8%
Depreciation, Depletion And Amortization $1.000K $5.000K
YoY Change -80.0% -50.0%
Cash From Operating Activities -$5.812M -$732.0K
YoY Change 693.99% -83.29%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $3.000M
YoY Change -100.0% -151.02%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.00K 448.0K
YoY Change -97.77% -94.15%
NET CHANGE
Cash From Operating Activities -5.812M -732.0K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 10.00K 448.0K
Net Change In Cash -5.802M -284.0K
YoY Change 1942.96% -89.17%
FREE CASH FLOW
Cash From Operating Activities -$5.812M -$732.0K
Capital Expenditures $0.00
Free Cash Flow -$732.0K
YoY Change -83.25%

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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="font-style: italic; font-weight: bold;">Use of Estimates</div><div>&#160;</div><div style="text-align: justify;">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</div></div>
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CY2021Q1 ocup Accrued Research And Development Services And Supplies Current
AccruedResearchAndDevelopmentServicesAndSuppliesCurrent
473000
CY2020Q4 ocup Accrued Research And Development Services And Supplies Current
AccruedResearchAndDevelopmentServicesAndSuppliesCurrent
1440000
CY2021Q1 ocup Accrued Deferred Issuance Costs Current
AccruedDeferredIssuanceCostsCurrent
88000
CY2020Q4 ocup Accrued Deferred Issuance Costs Current
AccruedDeferredIssuanceCostsCurrent
0
CY2021Q1 ocup Operating Leases Monthly Base Rent
OperatingLeasesMonthlyBaseRent
3000
CY2020Q4 ocup Number Of Directors Required To Complete Transition
NumberOfDirectorsRequiredToCompleteTransition
1
CY2021Q1 ocup Number Of Potential Milestones
NumberOfPotentialMilestones
0
CY2020Q4 ocup Number Of Potential Milestones
NumberOfPotentialMilestones
0
CY2020Q4 ocup Percentage Of Cash Consideration Payment
PercentageOfCashConsiderationPayment
0.75
CY2021Q1 ocup Contingent Value Rights Payment Period
ContingentValueRightsPaymentPeriod
P15Y
CY2021Q1 ocup Number Of Milestones Accrued
NumberOfMilestonesAccrued
0
CY2020Q4 ocup Number Of Milestones Accrued
NumberOfMilestonesAccrued
0
CY2021Q1 ocup Contingent Value Rights Ip Term
ContingentValueRightsIPTerm
P10Y
CY2021Q1 ocup Number Of Directors Signed Waiver Agreements
NumberOfDirectorsSignedWaiverAgreements
6
CY2020Q1 ocup Non Cash Discount Amortization On Convertible Notes Related Party
NonCashDiscountAmortizationOnConvertibleNotesRelatedParty
40000
CY2021Q1 ocup Non Cash Discount Amortization On Convertible Notes Related Party
NonCashDiscountAmortizationOnConvertibleNotesRelatedParty
0

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