$LPCN
Lipocine Inc.

2015 Q4 Form 10-Q Financial Statement

#000114420415064690 Filed on November 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q4
Revenue $0.00 $38.00K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.930M $1.700M $1.170M
YoY Change 64.96% 95.4% 13.59%
% of Gross Profit
Research & Development $2.770M $4.734M $2.890M
YoY Change -4.15% 45.81% 17.48%
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K $0.00
YoY Change
% of Gross Profit
Operating Expenses $4.700M $6.434M $4.060M
YoY Change 15.76% 56.23% 16.0%
Operating Profit -$4.696M -$6.434M
YoY Change 56.23%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $60.00K $60.00K $20.00K
YoY Change 200.0% 200.0% 0.0%
Pretax Income -$4.630M -$6.372M -$4.040M
YoY Change 14.6% 55.65% -7.97%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.634M -$6.372M -$4.040M
YoY Change 14.7% 55.65% -7.97%
Net Earnings / Revenue -16769.55%
Basic Earnings Per Share -$0.25 -$0.35
Diluted Earnings Per Share -$0.25 -$0.35 -$316.4K
COMMON SHARES
Basic Shares Outstanding 18.25M shares 18.24M shares 12.79M shares
Diluted Shares Outstanding 18.24M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.38M $41.79M $27.67M
YoY Change 60.39% 31.95% -38.86%
Cash & Equivalents $20.01M $23.93M $27.67M
Short-Term Investments $24.38M $17.87M
Other Short-Term Assets $350.0K $350.0K $230.0K
YoY Change 52.17% 20.69% -70.13%
Inventory
Prepaid Expenses
Receivables $140.0K $150.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $44.88M $42.29M $27.90M
YoY Change 60.87% 32.36% -39.4%
LONG-TERM ASSETS
Property, Plant & Equipment $75.75K $82.91K $73.78K
YoY Change 2.67% 107.27% 156.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $400.0K $6.030M
YoY Change
Other Assets $23.75K $23.75K $23.75K
YoY Change 0.0% 18.77% -47.22%
Total Long-Term Assets $499.8K $6.139M $97.54K
YoY Change 412.39% 8670.14% 32.17%
TOTAL ASSETS
Total Short-Term Assets $44.88M $42.29M $27.90M
Total Long-Term Assets $499.8K $6.139M $97.54K
Total Assets $45.38M $48.43M $27.99M
YoY Change 62.1% 51.24% -39.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $507.1K $460.0K $306.3K
YoY Change 65.56% 15.0% -70.18%
Accrued Expenses $2.885M $1.720M $1.327M
YoY Change 117.35% 3.61% 416.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.392M $2.179M $1.634M
YoY Change 107.64% 5.78% 27.24%
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 $3.392M $2.179M $1.634M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.392M $2.179M $1.634M
YoY Change 107.64% 5.78% 27.24%
SHAREHOLDERS EQUITY
Retained Earnings -$86.45M -$81.81M -$68.24M
YoY Change 26.68% 42.56%
Common Stock $1.825K $1.825K $1.280K
YoY Change 42.58% 1.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $40.71K $40.71K $40.71K
YoY Change 0.0%
Treasury Stock Shares 5.710K shares 5.710K shares 5.710K shares
Shareholders Equity $41.99M $46.25M $26.36M
YoY Change
Total Liabilities & Shareholders Equity $45.38M $48.43M $27.99M
YoY Change 62.1% 51.24% -39.29%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income -$4.634M -$6.372M -$4.040M
YoY Change 14.7% 55.65% -7.97%
Depreciation, Depletion And Amortization $10.00K $10.00K $0.00
YoY Change
Cash From Operating Activities -$2.920M -$5.550M -$3.690M
YoY Change -20.87% 101.82% -10.22%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$20.00K -$40.00K
YoY Change -100.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$1.010M -$8.850M $0.00
YoY Change
Cash From Investing Activities -$1.010M -$8.870M -$40.00K
YoY Change 2425.0% 44250.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 60.00K -280.0K
YoY Change -100.0% -78.57% -102.23%
NET CHANGE
Cash From Operating Activities -2.920M -5.550M -3.690M
Cash From Investing Activities -1.010M -8.870M -40.00K
Cash From Financing Activities 0.000 60.00K -280.0K
Net Change In Cash -3.930M -14.36M -4.010M
YoY Change -2.0% 476.71% -147.57%
FREE CASH FLOW
Cash From Operating Activities -$2.920M -$5.550M -$3.690M
Capital Expenditures $0.00 -$20.00K -$40.00K
Free Cash Flow -$2.920M -$5.530M -$3.650M
YoY Change -20.0% 102.56% -11.19%

Facts In Submission

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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.81
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
18.34
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.64
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.07
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
658000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
20205 shares
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2015-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
Lipocine Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0001535955
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Trading Symbol
TradingSymbol
LPCN
CY2015Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
18253456 shares
CY2015Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1053595 USD
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1034029 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2015Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12794672 shares
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
5710 shares
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
5710 shares
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2015Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2015Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
18249456 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
12800382 shares
CY2015Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
18243746 shares
CY2015Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
17862110 USD
CY2015Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
17868989 USD
CY2015Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
6033516 USD
CY2015Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
6032439 USD
CY2015Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
0 USD
CY2015Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
0 USD
CY2015Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
23895626 USD
CY2015Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
23901428 USD
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
354063 USD
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
239771 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
741842 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y7M10D
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11612717 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M4D
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9819736 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M13D
CY2013Q3 lpcn Description Of Terms Of Service Agreement
DescriptionOfTermsOfServiceAgreement
Under the service agreement, the Company provided facilities and up to 10 percent of the services of certain employees to Spriaso for a period of 18 months
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
331689 shares

Files In Submission

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0001144204-15-064690-index-headers.html Edgar Link pending
0001144204-15-064690-index.html Edgar Link pending
0001144204-15-064690.txt Edgar Link pending
0001144204-15-064690-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
lpcn-20150930.xml Edgar Link completed
lpcn-20150930.xsd Edgar Link pending
lpcn-20150930_cal.xml Edgar Link unprocessable
lpcn-20150930_def.xml Edgar Link unprocessable
lpcn-20150930_lab.xml Edgar Link unprocessable
lpcn-20150930_pre.xml Edgar Link unprocessable
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