2016 Q1 Form 10-K Financial Statement
#000114420416091485 Filed on March 30, 2016
Income Statement
Concept | 2016 Q1 | 2015 | 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 | $1.530M | $3.960M | $280.0K |
YoY Change | 96.15% | 105.18% | -44.0% |
% of Gross Profit | |||
Research & Development | $914.0K | $2.717M | $110.0K |
YoY Change | 184.34% | 411.59% | -15.38% |
% of Gross Profit | |||
Depreciation & Amortization | $84.00 | $1.257K | $0.00 |
YoY Change | -75.44% | -27.09% | -100.0% |
% of Gross Profit | |||
Operating Expenses | $2.443M | $6.678M | $390.0K |
YoY Change | 121.21% | 171.22% | -38.1% |
Operating Profit | |||
YoY Change | |||
Interest Expense | $0.00 | $1.934M | $40.00K |
YoY Change | -100.0% | 337.95% | -122.22% |
% of Operating Profit | |||
Other Income/Expense, Net | $317.00 | -$1.710M | $0.00 |
YoY Change | -100.02% | -287.83% | -100.0% |
Pretax Income | -$2.440M | -$8.755M | -$350.0K |
YoY Change | -12.86% | 338.54% | -55.7% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$2.442M | -$8.388M | -$420.0K |
YoY Change | -12.8% | 440.63% | -51.16% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$244.00 | -$1.662K | -$42.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 8.346M shares | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2016 Q1 | 2015 | 2014 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $7.210M | $8.390M | $170.0K |
YoY Change | 214.85% | 4835.29% | -66.0% |
Cash & Equivalents | $7.215M | $8.390M | $167.0K |
Short-Term Investments | |||
Other Short-Term Assets | $750.0K | $120.0K | $30.00K |
YoY Change | 316.67% | 300.0% | 50.0% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | $337.5K | $0.00 | |
Total Short-Term Assets | $8.330M | $9.450M | $218.8K |
YoY Change | 234.54% | 4195.45% | -60.93% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $0.00 | $0.00 | $1.257K |
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $46.57K | $60.00K | $37.44K |
YoY Change | -22.38% | -94.96% | -71.2% |
Total Long-Term Assets | $3.987M | $60.00K | $1.191M |
YoY Change | 6544.79% | -94.96% | 816.32% |
TOTAL ASSETS | |||
Total Short-Term Assets | $8.330M | $9.450M | $218.8K |
Total Long-Term Assets | $3.987M | $60.00K | $1.191M |
Total Assets | $12.32M | $9.510M | $1.410M |
YoY Change | 383.01% | 574.47% | 104.35% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $869.3K | $420.0K | $565.9K |
YoY Change | 199.77% | -26.32% | 5559.47% |
Accrued Expenses | $910.7K | $1.100M | $913.1K |
YoY Change | 600.51% | 20.88% | 86.34% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $3.210M |
YoY Change | -100.0% | 58.13% | |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $5.650M | $3.420M | $5.024M |
YoY Change | 1278.04% | -31.87% | 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 | $5.650M | $3.420M | $5.024M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $5.650M | $3.420M | $11.80M |
YoY Change | 1278.05% | -71.02% | 29.24% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$67.70M | -$56.86M | |
YoY Change | |||
Common Stock | $83.46K | $2.018K | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $6.667M | $6.090M | -$46.81M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $12.32M | $9.510M | $1.406M |
YoY Change | 383.01% | 574.47% | 103.84% |
Cashflow Statement
Concept | 2016 Q1 | 2015 | 2014 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.442M | -$8.388M | -$420.0K |
YoY Change | -12.8% | 440.63% | -51.16% |
Depreciation, Depletion And Amortization | $84.00 | $1.257K | $0.00 |
YoY Change | -75.44% | -27.09% | -100.0% |
Cash From Operating Activities | -$1.350M | -$4.460M | -$440.0K |
YoY Change | -23.73% | 369.47% | -38.89% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $180.0K | -$20.00K | |
YoY Change | -1000.0% | ||
Cash From Investing Activities | $180.0K | -$20.00K | |
YoY Change | -1000.0% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | $14.10M | |
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | 12.62M | 320.0K |
YoY Change | -100.0% | 1968.85% | |
NET CHANGE | |||
Cash From Operating Activities | -1.350M | -4.460M | -440.0K |
Cash From Investing Activities | 180.0K | -20.00K | |
Cash From Financing Activities | 0.000 | 12.62M | 320.0K |
Net Change In Cash | -1.170M | 8.140M | -120.0K |
YoY Change | -156.52% | -2494.12% | -83.33% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.350M | -$4.460M | -$440.0K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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StockIssuedDuringPeriodValueOther
|
10001760 | USD |
CY2015 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
-1254338 | USD |
CY2015Q1 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
4.20 | |
CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
7657287 | shares |
CY2015Q4 | 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 |
CY2015 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3084570 | shares |
CY2015 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
|
79930 | USD |
CY2015 | 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 |
CY2015Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
268093 | USD |
CY2014Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
266836 | USD |
CY2014 | us-gaap |
Depreciation
Depreciation
|
1724 | USD |
CY2015 | us-gaap |
Depreciation
Depreciation
|
1257 | USD |
CY2014Q2 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
2100000 | USD |
CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2014Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50485136 | shares |
CY2015 | eyeg |
Convertible Preferred Stock Discount Rate At Initial Public Offering Price
ConvertiblePreferredStockDiscountRateAtInitialPublicOfferingPrice
|
0.3 | pure |
CY2015 | eyeg |
Debt Conversion Original Debt Discount Rate At Initial Public Offering Price
DebtConversionOriginalDebtDiscountRateAtInitialPublicOfferingPrice
|
0.3 | pure |
CY2014 | eyeg |
Net Extinguished Fair Value Of Stock Consideration Received
NetExtinguishedFairValueOfStockConsiderationReceived
|
240000 | USD |
CY2015 | us-gaap |
License Costs
LicenseCosts
|
12500 | USD |
CY2012Q1 | us-gaap |
Payments For Royalties
PaymentsForRoyalties
|
100000 | USD |
CY2015Q1 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
12500 | USD |
CY2015Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
900000 | USD |
CY2015 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P3Y1M17D | |
CY2015Q4 | eyeg |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue
|
1382000 | USD |
CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
135000 | USD |
CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
202000 | USD |
CY2014 | 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 |
CY2012Q1 | eyeg |
License Expiration Period
LicenseExpirationPeriod
|
P12Y | |
CY2015 | 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;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <i><font style="FONT-SIZE: 10pt">Use of Estimates</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 17.6pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 17.6pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The preparation of the consolidated 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 revenues and 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> | |
CY2014Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
3376573 | USD |
CY2015Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
0 | USD |
CY2014Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
7657287 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
201787 | shares |
CY2015 | eyeg |
Conversion Of Stock Conversion Price Per Share
ConversionOfStockConversionPricePerShare
|
6.00 | |
CY2015Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2015Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2015 | eyeg |
Description On Civil Penalties For Failure To File Fbar
DescriptionOnCivilPenaltiesForFailureToFileFbar
|
greater of $100,000 per year or 50% | |
CY2015 | us-gaap |
Description Of Lessor Leasing Arrangements Operating Leases
DescriptionOfLessorLeasingArrangementsOperatingLeases
|
The Company executed a 2 year lease agreement commencing in December 2015 and ending in December 2017.  | |
CY2015 | eyeg |
Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
|
0 | USD |
CY2015 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
0 | USD |
CY2014 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
0 | USD |
CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
1224687 | USD |
CY2014 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
26815 | USD |
CY2015 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
91211 | USD |
CY2014 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
5510 | USD |
CY2015 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
91211 | USD |
CY2014 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
5510 | USD |
CY2015 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
-32967 | USD |
CY2014 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
1889 | USD |
CY2015 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
-27790 | USD |
CY2014 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
224373 | USD |
CY2015 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-8268971 | USD |
CY2014 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-1770371 | USD |
CY2014 | eyeg |
Conversion Of Subsidiary Stock Shares Issuable
ConversionOfSubsidiaryStockSharesIssuable
|
1070333 | shares |
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. | |
CY2015Q4 | eyeg |
Money Market Funds Fair Value
MoneyMarketFundsFairValue
|
7200450 | USD |
CY2014Q4 | eyeg |
Money Market Funds Fair Value
MoneyMarketFundsFairValue
|
187 | USD |
CY2015Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
268093 | USD |
CY2014Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
268093 | USD |
CY2013Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
-44843839 | USD |
CY2014 | eyeg |
Cancellation Of Shareholder Note Receivable
CancellationOfShareholderNoteReceivable
|
136176 | USD |
CY2014 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
26815 | USD |
CY2014 | eyeg |
Adjustments To Additional Paid In Capital Loss On Modification And Extinguishment
AdjustmentsToAdditionalPaidInCapitalLossOnModificationAndExtinguishment
|
668000 | USD |
CY2014 | eyeg |
Adjustments To Additional Paid In Capital Gain On Troubled Debt Restructuring
AdjustmentsToAdditionalPaidInCapitalGainOnTroubledDebtRestructuring
|
200918 | USD |
CY2014 | eyeg |
Stock Issued During Period Value Settlement Of Liability
StockIssuedDuringPeriodValueSettlementOfLiability
|
105000 | USD |
CY2014 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
6500 | USD |
CY2014 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
|
3621 | USD |
CY2014 | us-gaap |
Preferred Stock Conversions Inducements
PreferredStockConversionsInducements
|
0 | USD |
CY2015 | us-gaap |
Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
|
1148994 | USD |
CY2014 | us-gaap |
Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
|
0 | USD |
CY2015 | us-gaap |
Embedded Derivative No Longer Bifurcated Amount Reclassified To Stockholders Equity
EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity
|
79930 | USD |
CY2014 | us-gaap |
Embedded Derivative No Longer Bifurcated Amount Reclassified To Stockholders Equity
EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity
|
0 | USD |
CY2015Q4 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
4.20 | |
CY2015 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
907500 | USD |
CY2014 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
0 | USD |
CY2015 | eyeg |
Conversion Of Non Controlling Interests To Commonstock
ConversionOfNonControllingInterestsToCommonstock
|
6818732 | USD |
CY2014 | eyeg |
Conversion Of Non Controlling Interests To Commonstock
ConversionOfNonControllingInterestsToCommonstock
|
0 | USD |
CY2015 | eyeg |
Conversion Of Preferred Stock Into Common Stock
ConversionOfPreferredStockIntoCommonStock
|
36408666 | USD |
CY2014 | eyeg |
Conversion Of Preferred Stock Into Common Stock
ConversionOfPreferredStockIntoCommonStock
|
0 | USD |
CY2015 | eyeg |
Exercise Of Common Warrants
ExerciseOfCommonWarrants
|
97 | USD |
CY2014 | eyeg |
Exercise Of Common Warrants
ExerciseOfCommonWarrants
|
0 | USD |
CY2015 | us-gaap |
Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
|
3532694 | USD |
CY2014 | us-gaap |
Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
|
0 | USD |
CY2015 | us-gaap |
Preferred Stock Conversions Inducements
PreferredStockConversionsInducements
|
8222008 | USD |
CY2015 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
0 | USD |
CY2014 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
1398384 | USD |
CY2015 | us-gaap |
Stock Issued1
StockIssued1
|
0 | USD |
CY2014 | us-gaap |
Stock Issued1
StockIssued1
|
105000 | USD |
CY2015 | us-gaap |
Notes Assumed1
NotesAssumed1
|
0 | USD |
CY2014 | us-gaap |
Notes Assumed1
NotesAssumed1
|
127782 | USD |
CY2015 | 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;MARGIN: 0in 0in 0pt"> </div> <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: 17.6pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 17.6pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">EyeGate Pharmaceuticals, Inc. (“EyeGate” or the “Company”), 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’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® II Delivery System.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 17.6pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 20.9pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">On February 13, 2015, the Company completed an initial public offering (“the IPO”) 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 “EYEG” 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 December 31, 2015, there are <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 7,657,287</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 secondary 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 <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">August 5, 2020</font>.  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’ 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, 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: 20.9pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 20.9pt; 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: 20.9pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 20.9pt; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The accompanying 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 December 31, 2015, EyeGate has cash and cash equivalents of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8,394,133</font>, and an accumulated deficit of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">65,255,301</font>. EyeGate has incurred operating losses and negative operating cash flows since inception, and future losses are anticipated. The Company estimates it will have sufficient cash to fund planned operations for approximately 12 to 15 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. Although the Company completed 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’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.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
CY2015Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
907500 | USD |
CY2014Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
0 | USD |
CY2015Q4 | us-gaap |
Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
|
38587 | USD |
CY2014Q4 | us-gaap |
Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
|
1186433 | USD |
CY2015Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2014Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2014Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2015 | 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 Company’s 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. | |
CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
0 | USD |
CY2015 | us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
0 | USD |
CY2014 | us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
30000 | USD |
CY2014 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-1996387 | USD |
CY2015 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
|
367038 | USD |
CY2014 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
|
444879 | USD |
CY2015 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-8755011 | USD |
CY2015 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-8387973 | USD |
CY2014 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-1551508 | USD |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.3400 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.3400 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.0627 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.0627 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
-0.1088 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.5055 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.2955 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.8454 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.0043 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0.1252 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.0024 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.0260 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.00 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.00 | pure |
CY2015 | eyeg |
Expiration Of State Net Operating Loss Carryforward Percent
ExpirationOfStateNetOperatingLossCarryforwardPercent
|
-0.0003 | pure |
CY2014 | eyeg |
Expiration Of State Net Operating Loss Carryforward Percent
ExpirationOfStateNetOperatingLossCarryforwardPercent
|
-0.1620 | pure |
CY2015Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
18050019 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
15491353 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
1226384 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
1190024 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
4452114 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
4823160 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
164292 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
100712 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits
|
587 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits
|
587 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
|
137 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
|
0 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Restructuring Charges
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsRestructuringCharges
|
17959 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Restructuring Charges
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsRestructuringCharges
|
26938 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
|
2179356 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
|
1979847 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
26090848 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
23612621 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
26090848 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
23612621 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | USD |
CY2015 | eyeg |
Operating Loss Carryforwards Expiration Period
OperatingLossCarryforwardsExpirationPeriod
|
2035 | |
CY2015 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
2478000 | USD |
CY2014 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
1312000 | USD |