2015 Q4 Form 10-Q Financial Statement

#000114420415064326 Filed on November 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 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 $1.290M $950.0K $280.0K
YoY Change 360.71% 97.92% -44.0%
% of Gross Profit
Research & Development $1.380M $407.6K $110.0K
YoY Change 1154.55% 265.21% -15.38%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $2.680M $1.354M $390.0K
YoY Change 587.18% 128.65% -38.1%
Operating Profit
YoY Change
Interest Expense -$10.00K $0.00 $40.00K
YoY Change -125.0% -100.0% -122.22%
% of Operating Profit
Other Income/Expense, Net $0.00 -$1.785K $0.00
YoY Change -82.15% -100.0%
Pretax Income -$2.690M -$1.360M -$350.0K
YoY Change 668.57% -488.57% -55.7%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.690M -$1.356M -$420.0K
YoY Change 540.48% -537.27% -51.16%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$269.00 -$136.00 -$42.00
COMMON SHARES
Basic Shares Outstanding 7.655M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.390M $9.920M $170.0K
YoY Change 4835.29% 3100.0% -66.0%
Cash & Equivalents $8.394M $9.919M $167.0K
Short-Term Investments
Other Short-Term Assets $120.0K $80.00K $30.00K
YoY Change 300.0% 300.0% 50.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables $907.5K $0.00
Total Short-Term Assets $9.449M $10.03M $218.8K
YoY Change 4219.0% 2765.33% -60.93%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $231.00 $1.257K
YoY Change -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $38.59K $37.25K $37.44K
YoY Change 3.07% -97.04% -71.2%
Total Long-Term Assets $58.59K $61.36K $1.191M
YoY Change -95.08% -95.13% 816.32%
TOTAL ASSETS
Total Short-Term Assets $9.449M $10.03M $218.8K
Total Long-Term Assets $58.59K $61.36K $1.191M
Total Assets $9.508M $10.09M $1.410M
YoY Change 574.31% 526.71% 104.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $417.7K $160.0K $565.9K
YoY Change -26.2% -42.86% 5559.47%
Accrued Expenses $1.096M $250.0K $913.1K
YoY Change 20.01% -79.17% 86.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $3.210M
YoY Change -100.0% -100.0% 58.13%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.421M $1.410M $5.024M
YoY Change -31.91% -70.87% 95.49%
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
TOTAL LIABILITIES
Total Short-Term Liabilities $3.421M $1.410M $5.024M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.421M $1.410M $11.80M
YoY Change -71.01% -87.74% 29.24%
SHAREHOLDERS EQUITY
Retained Earnings -$65.26M -$56.86M
YoY Change 14.76%
Common Stock $76.57K $2.018K
YoY Change 3694.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.087M $8.680M -$46.81M
YoY Change
Total Liabilities & Shareholders Equity $9.508M $10.09M $1.406M
YoY Change 576.0% 526.71% 103.84%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income -$2.690M -$1.356M -$420.0K
YoY Change 540.48% -537.27% -51.16%
Depreciation, Depletion And Amortization $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Operating Activities -$1.550M -$170.0K -$440.0K
YoY Change 252.27% 466.67% -38.89%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
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 10.00K 8.820M 320.0K
YoY Change -96.88% -8920.0%
NET CHANGE
Cash From Operating Activities -1.550M -170.0K -440.0K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 10.00K 8.820M 320.0K
Net Change In Cash -1.540M 8.650M -120.0K
YoY Change 1183.33% -6753.85% -83.33%
FREE CASH FLOW
Cash From Operating Activities -$1.550M -$170.0K -$440.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q3 us-gaap Assets Current
AssetsCurrent
10028639 USD
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9919403 USD
CY2015Q3 us-gaap Deferred Costs
DeferredCosts
0 USD
CY2014Q4 us-gaap Deferred Costs
DeferredCosts
1148994 USD
CY2015Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
37250 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
37439 USD
CY2014Q4 us-gaap Assets Current
AssetsCurrent
218780 USD
CY2015Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
25312 USD
dei Trading Symbol
TradingSymbol
EYEG
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
26443 USD
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2015Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
7654644 shares
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
167001 USD
CY2015Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
83924 USD
CY2015Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
20000 USD
CY2014Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
25336 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1257 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
231 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
0 USD
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
111600 USD
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
407571 USD
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
480450 USD
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
946180 USD
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
592050 USD
CY2014Q3 eyeg Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
-9703 USD
CY2015Q3 eyeg Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
0 USD
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
89 USD
CY2014Q3 us-gaap Interest Expense
InterestExpense
169831 USD
CY2015Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
0 USD
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1987 USD
CY2015Q3 us-gaap Income Loss Before Extraordinary Items And Cumulative Effect Of Change In Accounting Principle
IncomeLossBeforeExtraordinaryItemsAndCumulativeEffectOfChangeInAccountingPrinciple
-1355536 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6741 USD
CY2015Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-1362277 USD
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
1353751 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
-1355536 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1333118 USD
CY2015Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
0 USD
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1362277 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2668513 USD
us-gaap Operating Expenses
OperatingExpenses
4001631 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
869245 USD
us-gaap Income Loss Before Extraordinary Items And Cumulative Effect Of Change In Accounting Principle
IncomeLossBeforeExtraordinaryItemsAndCumulativeEffectOfChangeInAccountingPrinciple
-1199568 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
157928 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
8222008 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1357496 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13925160 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-7.13
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.46
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
190516 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5661153 shares
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7687 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
74572 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-1207255 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-5623403 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-55639 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-32967 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
102289 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-27790 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1309544 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5595613 USD
us-gaap Profit Loss
ProfitLoss
-1199568 USD
us-gaap Profit Loss
ProfitLoss
-5697975 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-46806801 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
700462 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
-36408666 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
18543 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
46782 USD
eyeg Stock Issued During Period Value Conversion Of Convertible Securities1
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities1
-6818732 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4099500 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
1373858 USD
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
3532694 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8677187 USD
us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
1663873 USD
eyeg Reclassification Of Previously Issued Warrant Liability To Stockholders Equity
ReclassificationOfPreviouslyIssuedWarrantLiabilityToStockholdersEquity
79930 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
444394 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1292 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1026 USD
us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
0 USD
us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
-1663873 USD
us-gaap Share Based Compensation
ShareBasedCompensation
25452 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1144856 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-6635 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
57481 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-8810 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-1062 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
718 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-189 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
261965 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-407819 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
944245 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-579179 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6500 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
18543 USD
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
1189084 USD
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
1479202 USD
eyeg Proceeds From Convertible Notes Payable
ProceedsFromConvertibleNotesPayable
1471374 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-32628 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
288790 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
12607973 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
35618 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
74938 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-190074 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
9752402 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
501172 USD
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
311098 USD
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
0 USD
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
3532694 USD
eyeg Conversion Of Non Controlling Interests To Commonstock
ConversionOfNonControllingInterestsToCommonstock
0 USD
eyeg Conversion Of Non Controlling Interests To Commonstock
ConversionOfNonControllingInterestsToCommonstock
6818732 USD
eyeg Conversion Of Preferred Stock Into Common Stock
ConversionOfPreferredStockIntoCommonStock
0 USD
eyeg Conversion Of Preferred Stock Into Common Stock
ConversionOfPreferredStockIntoCommonStock
36408666 USD
eyeg Exercise Of Common Warrants
ExerciseOfCommonWarrants
0 USD
eyeg Exercise Of Common Warrants
ExerciseOfCommonWarrants
97 USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
-876753 USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
-223172 USD
us-gaap Embedded Derivative No Longer Bifurcated Amount Reclassified To Stockholders Equity
EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity
79930 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
244111 USD
us-gaap Preferred Stock Conversions Inducements
PreferredStockConversionsInducements
8222008 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
1148994 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
113400 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2910509 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-514482 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
20000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-20000 USD
eyeg Loss On Cancellation Of Note Receivable And Related Accrued Interest Receivable
LossOnCancellationOfNoteReceivableAndRelatedAccruedInterestReceivable
0 USD
eyeg Loss On Cancellation Of Note Receivable And Related Accrued Interest Receivable
LossOnCancellationOfNoteReceivableAndRelatedAccruedInterestReceivable
-200758 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
1364753 USD
eyeg Proceeds From Convertible Notes Payable
ProceedsFromConvertibleNotesPayable
0 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
0 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
0 USD
CY2015Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
4.20
CY2015Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q1 us-gaap Minority Interest Ownership Percentage By Parent
MinorityInterestOwnershipPercentageByParent
0.4999 pure
CY2014Q4 us-gaap Minority Interest Ownership Percentage By Parent
MinorityInterestOwnershipPercentageByParent
0.4999 pure
CY2014Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.5001 pure
CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5342137 shares
CY2014Q4 eyeg Money Market Funds Fair Value
MoneyMarketFundsFairValue
187 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
79930 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-223172 USD
CY2014 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1149000 USD
CY2015Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
267862 USD
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
266836 USD
us-gaap Depreciation
Depreciation
1292 USD
us-gaap Depreciation
Depreciation
1026 USD
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50485136 shares
CY2015Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
900000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y1M17D
CY2015Q3 eyeg Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue
849000 USD
CY2015Q3 us-gaap Area Of Land
AreaOfLand
2390 sqft
CY2012Q1 eyeg License Expiration Period
LicenseExpirationPeriod
P12Y
CY2014 eyeg Net Extinguished Fair Value Of Stock Consideration Received
NetExtinguishedFairValueOfStockConsiderationReceived
240000 USD
us-gaap License Costs
LicenseCosts
12500 USD
CY2012Q1 us-gaap Payments For Royalties
PaymentsForRoyalties
100000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
12500 USD
CY2014Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
0 USD
CY2015Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1000000 USD
CY2014Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3376573 USD
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
eyeg Description On Civil Penalties For Failure To File Fbar
DescriptionOnCivilPenaltiesForFailureToFileFbar
greater of $100,000 per year or 50%
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
1144856 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
25452 USD
CY2014 eyeg Conversion Of Subsidiary Stock Shares Issuable
ConversionOfSubsidiaryStockSharesIssuable
1070333 shares
CY2015Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1807203 shares
eyeg Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageRemainingContractualTerms
P5Y9M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.04
us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
All outstanding shares of Series A, B, C and D preferred stock automatically converted to common stock immediately upon the closing of the Companys initial public offering in February 2015 at the conversion rates of 1:0.251, 1:0.091, 1:0.091, and 1:0.091, respectively.
CY2015Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
244000 USD
CY2014Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
2100000 USD
CY2014Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
240000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
240000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">1. Nature of Business</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 19.8pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 19.8pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">EyeGate Pharmaceuticals, Inc. (&#8220;EyeGate&#8221; or the &#8220;Company&#8221;), a Delaware corporation, began operations in December 2004 and is a clinical-stage specialty pharmaceutical company that is focused on developing and commercializing therapeutics and drug delivery systems for treating diseases of the eye. EyeGate&#8217;s first product in clinical trials incorporates a reformulated topically active corticosteroid, dexamethasone phosphate, that is delivered into the ocular tissues though our proprietary innovative drug delivery system, the EyeGate&#174; II Delivery System.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 19.8pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 19.8pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">On February 13, 2015, the Company completed an initial public offering (&#8220;the IPO&#8221;) for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 683,250</font> shares of common stock. The common stock was offered at an initial price to the public of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">6.00</font> per share. The gross proceeds to the Company from this offering was approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4,100,000</font> before deducting underwriting discounts and other estimated offering expenses. The shares began trading on the OTCQB Venture Marketplace under the symbol &#8220;EYEG&#8221; on February 13, 2015 and the initial offering was closed on February 19, 2015. In related transactions, the Company converted all outstanding notes payable to shareholders and all shares of its convertible preferred stock to shares of common stock. The notes were converted to common shares at the discounted price of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4.20</font> per share and the <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">preferred shares were converted at the ratio of 10.98 shares of the preferred stock to 1.00 share of common stock</font>. As of September 30, 2015, there are <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 7,654,644</font> shares of common stock outstanding at a par value of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.01</font>. All preferred stock, shareholder notes and warrant liabilities have been extinguished. On August 5, 2015, the Company closed an underwritten public offering of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,176,470</font> shares of its common stock and warrants to purchase <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,176,470</font> shares of its common stock at a combined public offering price of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8.50</font> per share of common stock and warrant, before underwriting discounts and commissions. The warrants have an exercise price of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10.62</font> per share, are immediately exercisable, and expire on August 5, 2020.&#160; At the closing of the offering, the Company also issued and sold additional warrants to purchase up to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 176,470</font> shares of common stock in connection with the full exercise of the underwriters&#8217; over-allotment option to purchase additional warrants. The net proceeds to the Company were approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8.8</font> million, assuming no exercise of the warrants, and after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 19.8pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 19.8pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Since its inception, EyeGate has devoted substantially all of its efforts to business planning, research and development, and raising capital.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 19.8pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"></font></font></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 19.8pt; MARGIN: 0in 0in 0pt"> The accompanying condensed consolidated financial statements have been prepared assuming that EyeGate will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. At September 30, 2015, EyeGate has cash and cash equivalents of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">9,919,403</font>, and an accumulated deficit of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">62,565,304</font>. EyeGate has incurred operating losses and negative operating cash flows since inception, and future losses are anticipated. Including the proceeds from the August 5, 2015 closing, the Company will have sufficient cash to fund planned operations for approximately 15 to 18 months, however, the acceleration or reduction of cash outflows by management can significantly impact the timing for raising additional capital to complete development of its products. To continue development, EyeGate will need to raise additional capital through debt and/or equity financing, or access additional funding through grants.&#160;Although the Company completed&#160;the IPO and Secondary Offering, additional capital may not be available on terms favorable to EyeGate, if at all. Accordingly, no assurances can be given that management will be successful in these endeavors. These conditions raise substantial doubt about the Company&#8217;s ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities or any other adjustments that might be necessary should the Company be unable to continue as a going concern.</div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q1 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
preferred shares were converted at the ratio of 10.98 shares of the preferred stock to 1.00 share of common stock
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
10001760 USD
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-1254338 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 27.5pt; MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Use of Estimates</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 19.8pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 19.8pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make significant 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 expenses during the reporting periods. Significant estimates and assumptions are required in providing for fair value of warrants, establishing useful lives of intangible assets and property and equipment, and conducting impairment reviews of long-lived assets. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
eyeg Conversion Of Stock Conversion Price Per Share
ConversionOfStockConversionPricePerShare
6
CY2015Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
4.20
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1000000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
0 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
14101260 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2015Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
268093 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
268093 USD
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
202000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1597000 USD
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
211740 USD
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
60616 shares
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
42431 USD
us-gaap Description Of Lessor Leasing Arrangements Operating Leases
DescriptionOfLessorLeasingArrangementsOperatingLeases
The Company executed a lease agreement in January 2013 which expired in June 2013. The Company exercised its option to continue the lease on a month to month basis. The agreement is cancellable by either party with one month notice. The Company has executed a new 2 year lease agreement commencing in December 2015 and ending in December 2017
CY2015Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
7654644 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
201787 shares
eyeg Convertible Preferred Stock Discount Rate At Initial Public Offering Price
ConvertiblePreferredStockDiscountRateAtInitialPublicOfferingPrice
0.3 pure
eyeg Debt Conversion Original Debt Discount Rate At Initial Public Offering Price
DebtConversionOriginalDebtDiscountRateAtInitialPublicOfferingPrice
0.3 pure

Files In Submission

Name View Source Status
0001144204-15-064326-index-headers.html Edgar Link pending
0001144204-15-064326-index.html Edgar Link pending
0001144204-15-064326.txt Edgar Link pending
0001144204-15-064326-xbrl.zip Edgar Link pending
eyeg-20150930.xml Edgar Link completed
eyeg-20150930.xsd Edgar Link pending
eyeg-20150930_cal.xml Edgar Link unprocessable
eyeg-20150930_def.xml Edgar Link unprocessable
eyeg-20150930_lab.xml Edgar Link unprocessable
eyeg-20150930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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
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
v424033_10q.htm Edgar Link pending
v424033_ex31-1.htm Edgar Link pending
v424033_ex32-1.htm Edgar Link pending