$IRD
Opus Genetics, Inc.

2021 Q4 Form 10-Q Financial Statement

#000114036121037545 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $0.00 $489.0K
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.414M $1.595M $1.360M
YoY Change -174.03% 17.28% 18.26%
% of Gross Profit
Research & Development $4.736M $0.00 $149.6K
YoY Change -43.46% -100.0% -86.78%
% of Gross Profit
Depreciation & Amortization $1.000K $1.000K $1.000K
YoY Change -105.0% 0.0% -90.0%
% of Gross Profit
Operating Expenses $6.150M $0.00 $1.506M
YoY Change -26.58% -100.0% -33.97%
Operating Profit -$4.232M -$1.506M
YoY Change 181.03% -33.97%
Interest Expense -$2.000K $0.00 $100.0K
YoY Change -99.98% -100.0% -68.75%
% of Operating Profit
Other Income/Expense, Net -$161.0K $2.000K $102.4K
YoY Change -98.05% -68.14%
Pretax Income -$6.313M -$4.230M -$1.403M
YoY Change -68.62% 201.39% -28.36%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$6.313M -$4.230M -$1.248M
YoY Change -68.62% 238.94% -36.3%
Net Earnings / Revenue -865.03%
Basic Earnings Per Share -$0.25
Diluted Earnings Per Share -$352.9K -$249.9K -$1.321M
COMMON SHARES
Basic Shares Outstanding 17.30M 16.93M 4.234M
Diluted Shares Outstanding 16.93M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.75M $22.63M $8.080M
YoY Change 50.93% 180.11% -41.91%
Cash & Equivalents $24.53M $22.25M $8.080M
Short-Term Investments $219.0K $383.0K $0.00
Other Short-Term Assets $71.00K $46.00K $570.0K
YoY Change 173.08% -91.93% -6.0%
Inventory
Prepaid Expenses $1.243M $514.0K
Receivables $0.00
Other Receivables
Total Short-Term Assets $26.07M $23.19M $8.653M
YoY Change 47.54% 168.03% -40.88%
LONG-TERM ASSETS
Property, Plant & Equipment $10.00K $11.00K $150.0K
YoY Change -28.57% -92.67% 75.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $30.00K
YoY Change 0.0%
Other Assets
YoY Change
Total Long-Term Assets $10.00K $11.00K $180.6K
YoY Change -28.57% -93.91% -47.65%
TOTAL ASSETS
Total Short-Term Assets $26.07M $23.19M $8.653M
Total Long-Term Assets $10.00K $11.00K $180.6K
Total Assets $26.08M $23.20M $8.834M
YoY Change 47.48% 162.68% -41.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.584M $1.434M $1.840M
YoY Change 30.48% -22.07% 411.11%
Accrued Expenses $1.733M $1.204M $510.0K
YoY Change -12.08% 136.08% -55.26%
Deferred Revenue $650.0K
YoY Change -56.67%
Short-Term Debt $600.0K $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.855M $2.638M $3.009M
YoY Change 21.04% -12.33% 0.25%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $110.0K
YoY Change -100.0% -100.0% -50.0%
Total Long-Term Liabilities $0.00 $0.00 $110.0K
YoY Change -100.0% -100.0% -50.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.855M $2.638M $3.009M
Total Long-Term Liabilities $0.00 $0.00 $110.0K
Total Liabilities $3.855M $2.638M $3.120M
YoY Change -87.62% -15.44% -3.42%
SHAREHOLDERS EQUITY
Retained Earnings -$89.37M -$167.8M
YoY Change 173.51% 3.95%
Common Stock $2.000K $173.5M
YoY Change 100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.22M $20.57M -$9.410M
YoY Change
Total Liabilities & Shareholders Equity $26.08M $23.20M $8.834M
YoY Change 47.48% 162.68% -41.03%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$6.313M -$4.230M -$1.248M
YoY Change -68.62% 238.94% -36.3%
Depreciation, Depletion And Amortization $1.000K $1.000K $1.000K
YoY Change -105.0% 0.0% -90.0%
Cash From Operating Activities -$5.646M -$3.584M -$1.130M
YoY Change 112.26% 217.17% -52.32%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$100.0K $0.00 $0.00
YoY Change -95.93% -100.0%
Cash From Investing Activities -$100.0K $0.00 $0.00
YoY Change -95.93% -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 8.030M 1.600M 0.000
YoY Change -61.98%
NET CHANGE
Cash From Operating Activities -5.646M -3.584M -1.130M
Cash From Investing Activities -100.0K 0.000 0.000
Cash From Financing Activities 8.030M 1.600M 0.000
Net Change In Cash 2.284M -1.984M -1.130M
YoY Change -85.73% 75.58% -279.37%
FREE CASH FLOW
Cash From Operating Activities -$5.646M -$3.584M -$1.130M
Capital Expenditures $0.00
Free Cash Flow -$1.130M
YoY Change -52.32%

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<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none; font-weight: bold; font-style: italic;">Concentration of Credit Risk</span></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> <br/> </span></div> <div><span style="color: rgb(0, 0, 0); font-size: 10pt; font-variant: normal; text-transform: none;"> <span style="font-family: 'Times New Roman';"> </span> </span></div> <div><span style="color: rgb(0, 0, 0); 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;">Financial instruments which potentially subject the Company to concentrations of credit risk are cash and cash equivalent balances in bank accounts. The Company keeps its cash and cash equivalent balances with high quality financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes that no significant concentration of credit risk exists with respect to those cash and cash equivalent balances.As of September 30, 2021, the Company had deposits that exceeded federally insured amounts by $21.8 million.</div>
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Files In Submission

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