$IRD

2021 Q2 Form 10-Q Financial Statement

#000114036121028115 Filed on August 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q4 2020 Q2
Revenue $100.0K -$1.150M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.408M -$1.910M $2.120M
YoY Change 60.75% -223.23% 58.21%
% of Gross Profit
Research & Development $3.829M $8.376M $231.6K
YoY Change 1553.23% 1761.33% -85.95%
% of Gross Profit
Depreciation & Amortization $1.000K -$20.00K $10.00K
YoY Change -90.0% -300.0% 0.0%
% of Gross Profit
Operating Expenses $7.237M $8.376M $2.348M
YoY Change 208.15% 316.72% -21.41%
Operating Profit -$7.137M -$2.348M
YoY Change 203.9% -21.41%
Interest Expense $0.00 -$8.250M -$160.0K
YoY Change -100.0% -5992.86% -130.77%
% of Operating Profit
Other Income/Expense, Net $1.000K -$162.7K
YoY Change -100.61% -131.03%
Pretax Income -$7.136M -$20.12M -$2.511M
YoY Change 184.17% 975.94% 1.9%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$7.136M -$20.12M -$2.511M
YoY Change 184.17% 975.94% 1.9%
Net Earnings / Revenue -7136.0%
Basic Earnings Per Share -$0.52
Diluted Earnings Per Share -$0.52 -$1.283M -$2.510M
COMMON SHARES
Basic Shares Outstanding 13.61M 4.019M
Diluted Shares Outstanding 13.61M

Balance Sheet

Concept 2021 Q2 2020 Q4 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.23M $16.40M $9.210M
YoY Change 163.13% 34.21% -43.36%
Cash & Equivalents $24.23M $16.40M $9.209M
Short-Term Investments $0.00
Other Short-Term Assets $956.0K $26.00K $820.0K
YoY Change 16.59% 420.0% 23.85%
Inventory
Prepaid Expenses $1.243M
Receivables $50.00K $0.00
Other Receivables $0.00
Total Short-Term Assets $25.24M $17.67M $10.03M
YoY Change 151.73% 902.72% -42.02%
LONG-TERM ASSETS
Property, Plant & Equipment $12.00K $14.00K $57.31K
YoY Change -79.06% -36.36% -39.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $30.00K
YoY Change 0.0%
Other Assets
YoY Change
Total Long-Term Assets $12.00K $14.00K $222.5K
YoY Change -94.61% -36.36% -42.07%
TOTAL ASSETS
Total Short-Term Assets $25.24M $17.67M $10.03M
Total Long-Term Assets $12.00K $14.00K $222.5K
Total Assets $25.25M $17.68M $10.25M
YoY Change 146.38% 891.14% -42.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.496M $1.214M $1.650M
YoY Change -9.33% 254.97% 73.68%
Accrued Expenses $1.203M $1.971M $680.0K
YoY Change 76.91% 217.39% -38.74%
Deferred Revenue $650.0K
YoY Change -56.67%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.699M $3.185M $2.977M
YoY Change -9.34% -65.91% -16.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $27.96M $270.0K
YoY Change -100.0% 25318.18% -46.0%
Total Long-Term Liabilities $0.00 $27.96M $270.0K
YoY Change -100.0% 25318.18% -46.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.699M $3.185M $2.977M
Total Long-Term Liabilities $0.00 $27.96M $270.0K
Total Liabilities $2.699M $31.15M $3.246M
YoY Change -16.85% 233.36% -19.94%
SHAREHOLDERS EQUITY
Retained Earnings -$32.68M -$166.4M
YoY Change 305.65% 4.34%
Common Stock $1.000K $173.4M
YoY Change -100.0% 0.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.55M -$13.47M $7.003M
YoY Change
Total Liabilities & Shareholders Equity $25.25M $17.68M $10.25M
YoY Change 146.38% 891.14% -42.02%

Cashflow Statement

Concept 2021 Q2 2020 Q4 2020 Q2
OPERATING ACTIVITIES
Net Income -$7.136M -$20.12M -$2.511M
YoY Change 184.17% 975.94% 1.9%
Depreciation, Depletion And Amortization $1.000K -$20.00K $10.00K
YoY Change -90.0% -300.0% 0.0%
Cash From Operating Activities -$4.330M -$2.660M -$1.790M
YoY Change 141.9% 54.65% -1.1%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$2.460M $0.00
YoY Change -182.0% -100.0%
Cash From Investing Activities $0.00 -$2.460M $0.00
YoY Change -182.0% -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 17.97M 21.12M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -4.330M -2.660M -1.790M
Cash From Investing Activities 0.000 -2.460M 0.000
Cash From Financing Activities 17.97M 21.12M 0.000
Net Change In Cash 13.64M 16.00M -1.790M
YoY Change -861.73% 1150.0% -250.42%
FREE CASH FLOW
Cash From Operating Activities -$4.330M -$2.660M -$1.790M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$2.660M -$1.790M
YoY Change 54.65% -0.56%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001228627
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
50000
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
0
CY2021Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1000
CY2020Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
6000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
2000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
9000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
50000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-bottom: 12pt; font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255);"> <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Concentration of Credit Risk</span></div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; margin-bottom: 12pt;">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents. The Company’s cash is held by one financial institution in the United States. Amounts on deposit may at times exceed federally insured limits. Management believes that the financial institution is financially sound, and accordingly, minimal credit risk exists with respect to the financial institution. As of June 30, 2021, the Company had deposits that exceeded federally insured amounts by $23.9 million.</div>
CY2021Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
23900000
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span> <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-style: italic; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Use of Estimates</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">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>
CY2021Q2 ocup Payments Due Under Cvr Agreement
PaymentsDueUnderCVRAgreement
0
ocup Operating Leases Monthly Base Rent
OperatingLeasesMonthlyBaseRent
3000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
50000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
9000
us-gaap Operating Lease Cost
OperatingLeaseCost
98000
us-gaap Operating Lease Cost
OperatingLeaseCost
18000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
463000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
316000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
957000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
377000
ocup Number Of Directors Signed Waiver Agreements
NumberOfDirectorsSignedWaiverAgreements
6
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

Files In Submission

Name View Source Status
0001140361-21-028115-index-headers.html Edgar Link pending
0001140361-21-028115-index.html Edgar Link pending
0001140361-21-028115.txt Edgar Link pending
0001140361-21-028115-xbrl.zip Edgar Link pending
brhc10027659_10q.htm Edgar Link pending
brhc10027659_10q_htm.xml Edgar Link completed
brhc10027659_ex31-1.htm Edgar Link pending
brhc10027659_ex31-2.htm Edgar Link pending
brhc10027659_ex32-1.htm Edgar Link pending
brhc10027659_ex32-2.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
ocup-20210630.xsd Edgar Link pending
ocup-20210630_cal.xml Edgar Link unprocessable
ocup-20210630_def.xml Edgar Link unprocessable
ocup-20210630_lab.xml Edgar Link unprocessable
ocup-20210630_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending