$LEXX
Lexaria Bioscience Corp.

2019 Q3 Form 10-K Financial Statement

#000164033420002561 Filed on October 15, 2020

View on sec.gov

Income Statement

Concept 2019 Q3 2019
Revenue $130.0K $222.6K
YoY Change 30.0% -48.23%
Cost Of Revenue $10.00K $20.00K
YoY Change -33.33%
Gross Profit $110.0K $200.0K
YoY Change 22.22% -51.22%
Gross Profit Margin 84.62% 89.84%
Selling, General & Admin $1.020M $3.720M
YoY Change -8.11% -42.86%
% of Gross Profit 927.27% 1860.0%
Research & Development $160.0K $560.0K
YoY Change -23.81% 14.29%
% of Gross Profit 145.45% 280.0%
Depreciation & Amortization $30.00K $60.55K
YoY Change
% of Gross Profit 27.27% 30.28%
Operating Expenses $1.210M $4.358M
YoY Change -8.33% -37.74%
Operating Profit -$1.100M -$4.158M
YoY Change -10.57% -36.9%
Interest Expense -$10.00K -$20.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.120M -$4.158M
YoY Change -8.94% -37.09%
Income Tax $17.66K
% Of Pretax Income
Net Earnings -$1.080M $4.100M
YoY Change -11.48% -37.88%
Net Earnings / Revenue -830.77% 1841.79%
Basic Earnings Per Share
Diluted Earnings Per Share -$412.2K -$1.583M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.350M $1.350M
YoY Change -22.41% -22.41%
Cash & Equivalents $1.285M $1.290M
Short-Term Investments $60.00K $60.00K
Other Short-Term Assets $70.00K $70.00K
YoY Change -63.16% -63.16%
Inventory $127.4K $130.0K
Prepaid Expenses $68.93K
Receivables $273.1K $10.00K
Other Receivables $260.0K $260.0K
Total Short-Term Assets $1.819M $1.820M
YoY Change -20.23% -20.18%
LONG-TERM ASSETS
Property, Plant & Equipment $591.3K $590.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $856.4K $860.0K
YoY Change 470.93% 473.33%
TOTAL ASSETS
Total Short-Term Assets $1.819M $1.820M
Total Long-Term Assets $856.4K $860.0K
Total Assets $2.675M $2.680M
YoY Change 10.09% 10.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.00K $30.00K
YoY Change -25.0% -25.0%
Accrued Expenses $100.0K $100.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $184.5K $180.0K
YoY Change 361.27% 350.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $184.5K $180.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $184.5K $290.0K
YoY Change 361.27% 625.0%
SHAREHOLDERS EQUITY
Retained Earnings -$23.87M
YoY Change
Common Stock $78.79K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.491M $2.380M
YoY Change
Total Liabilities & Shareholders Equity $2.675M $2.680M
YoY Change 10.09% 10.29%

Cashflow Statement

Concept 2019 Q3 2019
OPERATING ACTIVITIES
Net Income -$1.080M $4.100M
YoY Change -11.48% -37.88%
Depreciation, Depletion And Amortization $30.00K $60.55K
YoY Change
Cash From Operating Activities -$740.0K -$3.006M
YoY Change -11.9% 19.27%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K $646.2K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$20.00K -$120.0K
YoY Change -33.33% -25.0%
Cash From Investing Activities -$30.00K -$769.2K
YoY Change 0.0% 380.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 60.00K 3.330M
YoY Change -88.68% 78.07%
NET CHANGE
Cash From Operating Activities -740.0K -$3.006M
Cash From Investing Activities -30.00K -$769.2K
Cash From Financing Activities 60.00K 3.330M
Net Change In Cash -710.0K -$3.775M
YoY Change 108.82% 366.01%
FREE CASH FLOW
Cash From Operating Activities -$740.0K -$3.006M
Capital Expenditures -$10.00K $646.2K
Free Cash Flow -$730.0K -$3.652M
YoY Change -13.1% 44.91%

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<div><p style="margin:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>n) Credit Risk and Receivable Concentration&#160;</strong></span></span></p><p style="margin:0px;text-align:justify">&#160;</p><p style="margin:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company places its cash with a high credit quality financial institution. As of August 31, 2020, the Company had approximately $1,293,749 in the bank (August 31, 2019: $1,285,147).</span></span></p><p style="margin:0px;text-align:justify">&#160;</p><p style="margin:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As at August 31, 2020 we had $143,500 (2019 &#x2013; $106,000) in IP Territory license fees receivable (Note 7) consisting of amounts due from three licensees (2019 &#x2013; three). These receivable amounts are based on contractual terms for payments that are payable within twelve months of signing the definitive agreements or routine IP usage fees. To date these licensees have performed all of their required obligations. The Company incurred $50,000 in bad debt in fiscal 2020 (2019 &#x2013; $75,000).</span></span></p><p style="margin:0px;text-align:justify">&#160;</p><p style="margin:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As at August 31, 2020, the Company had $87,933 (2019 - $161,418) in sales tax receivable (Note 7). The Company considers its credit risk to be low for such receivables.</span></span></p></div>
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CY2020Q3 lxrp Lessee Operating Lease Liability Payments Due Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueThereafter
0 USD
CY2020Q3 lxrp Operating Imputed Interest
OperatingImputedInterest
-15401 USD
CY2020 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
-18198 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3987018 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4158413 USD
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-856424 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-883841 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
200573 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
8544 USD
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
92083 USD
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
948 USD
CY2020 us-gaap Adjustment For Long Term Intercompany Transactions Tax Expense Benefit
AdjustmentForLongTermIntercompanyTransactionsTaxExpenseBenefit
0 USD
CY2019 us-gaap Adjustment For Long Term Intercompany Transactions Tax Expense Benefit
AdjustmentForLongTermIntercompanyTransactionsTaxExpenseBenefit
0 USD
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
566087 USD
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
892013 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2319 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17664 USD
CY2020Q3 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
5588526 USD
CY2019Q3 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
5022440 USD
CY2020Q3 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
2300 USD
CY2019Q3 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
2300 USD
CY2020Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5590826 USD
CY2019Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5024740 USD
CY2020Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
26891000 USD

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