$LPCN
Lipocine Inc.

2016 Q4 Form 10-Q Financial Statement

#000114420416132256 Filed on November 08, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $0.00 $0.00 $38.00K
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.340M $1.390M $1.700M
YoY Change -30.57% -18.24% 95.4%
% of Gross Profit
Research & Development $1.330M $1.507M $4.734M
YoY Change -51.99% -68.17% 45.81%
% of Gross Profit
Depreciation & Amortization $10.00K $0.00 $10.00K
YoY Change 0.0% -100.0%
% of Gross Profit
Operating Expenses $2.680M $3.286M $6.434M
YoY Change -42.98% -48.92% 56.23%
Operating Profit -$3.015M -$3.286M -$6.434M
YoY Change -35.8% -48.92% 56.23%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $50.00K $50.00K $60.00K
YoY Change -16.67% -16.67% 200.0%
Pretax Income -$2.970M -$3.235M -$6.372M
YoY Change -35.85% -49.23% 55.65%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.966M -$3.235M -$6.372M
YoY Change -35.98% -49.23% 55.65%
Net Earnings / Revenue -16769.55%
Basic Earnings Per Share -$0.16 -$0.18 -$0.35
Diluted Earnings Per Share -$0.16 -$0.18 -$0.35
COMMON SHARES
Basic Shares Outstanding 18.26M shares 18.25M shares 18.24M shares
Diluted Shares Outstanding 18.25M shares 18.24M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.84M $28.84M $41.79M
YoY Change -39.52% -30.99% 31.95%
Cash & Equivalents $5.561M $4.710M $23.93M
Short-Term Investments $21.28M $24.13M $17.87M
Other Short-Term Assets $330.0K $460.0K $350.0K
YoY Change -5.71% 31.43% 20.69%
Inventory
Prepaid Expenses
Receivables $40.00K $120.0K $150.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $27.21M $29.41M $42.29M
YoY Change -39.37% -30.45% 32.36%
LONG-TERM ASSETS
Property, Plant & Equipment $100.0K $110.0K $82.91K
YoY Change 32.01% 32.68% 107.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $6.030M
YoY Change -100.0% -100.0%
Other Assets $30.75K $30.00K $23.75K
YoY Change 29.47% 26.3% 18.77%
Total Long-Term Assets $131.2K $140.0K $6.139M
YoY Change -73.74% -97.72% 8670.14%
TOTAL ASSETS
Total Short-Term Assets $27.21M $29.41M $42.29M
Total Long-Term Assets $131.2K $140.0K $6.139M
Total Assets $27.34M $29.55M $48.43M
YoY Change -39.75% -38.98% 51.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $250.0K $860.0K $460.0K
YoY Change -50.7% 86.96% 15.0%
Accrued Expenses $1.080M $710.0K $1.720M
YoY Change -62.55% -58.72% 3.61%
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 $1.330M $1.570M $2.179M
YoY Change -60.79% -27.95% 5.78%
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 $1.330M $1.570M $2.179M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.330M $1.570M $2.179M
YoY Change -60.79% -27.95% 5.78%
SHAREHOLDERS EQUITY
Retained Earnings -$81.81M
YoY Change
Common Stock $1.846K $1.825K
YoY Change 1.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $40.71K
YoY Change
Treasury Stock Shares 5.710K shares 5.710K shares 5.710K shares
Shareholders Equity $26.02M $27.98M $46.25M
YoY Change
Total Liabilities & Shareholders Equity $27.34M $29.55M $48.43M
YoY Change -39.75% -38.98% 51.24%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$2.966M -$3.235M -$6.372M
YoY Change -35.98% -49.23% 55.65%
Depreciation, Depletion And Amortization $10.00K $0.00 $10.00K
YoY Change 0.0% -100.0%
Cash From Operating Activities -$2.550M -$4.040M -$5.550M
YoY Change -12.67% -27.21% 101.82%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$20.00K
YoY Change -100.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities $2.830M -$3.620M -$8.850M
YoY Change -380.2% -59.1%
Cash From Investing Activities $2.830M -$3.620M -$8.870M
YoY Change -380.2% -59.19% 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 580.0K 0.000 60.00K
YoY Change -100.0% -78.57%
NET CHANGE
Cash From Operating Activities -2.550M -4.040M -5.550M
Cash From Investing Activities 2.830M -3.620M -8.870M
Cash From Financing Activities 580.0K 0.000 60.00K
Net Change In Cash 860.0K -7.660M -14.36M
YoY Change -121.88% -46.66% 476.71%
FREE CASH FLOW
Cash From Operating Activities -$2.550M -$4.040M -$5.550M
Capital Expenditures $0.00 $0.00 -$20.00K
Free Cash Flow -$2.550M -$4.040M -$5.530M
YoY Change -12.67% -26.94% 102.56%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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 Payments For Leasing Costs
PaymentsForLeasingCosts
7000 USD
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
32439313 USD
CY2016Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
24132331 USD
CY2016Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
24132453 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
541160 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
95138 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
387119 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
58903 USD
CY2013Q3 lpcn Maximum Proceeds From Affiliates Under License Agreement
MaximumProceedsFromAffiliatesUnderLicenseAgreement
10000000 USD
CY2013Q3 lpcn Percentage Of Fee To Be Received
PercentageOfFeeToBeReceived
0.2 pure
CY2013Q3 lpcn Service Fee
ServiceFee
230 USD
CY2015Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
63.96
lpcn Class Of Warrant Or Right Redemption Price Of Warrants Or Rights
ClassOfWarrantOrRightRedemptionPriceOfWarrantsOrRights
0.001
us-gaap Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
2018-11-12
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M29D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0168 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8233 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y8M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0166 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8095 pure
CY2016Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.29
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.32
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
CY2015Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
83000 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
602000 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
271500 shares
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
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
Accelerated Filer
dei Trading Symbol
TradingSymbol
LPCN
CY2016Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
18260893 shares
CY2016Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2016Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1084474 USD
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1060750 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2016Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2016Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2016Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
18258901 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
18250456 shares
CY2016Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
18253191 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
18244746 shares
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
5710 shares
CY2016Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
5710 shares
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
0 USD
CY2015Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
24903325 USD
CY2015Q3 us-gaap Reimbursement Revenue
ReimbursementRevenue
38000 USD
CY2016Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
24132331 USD
CY2016Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2818 USD
CY2016Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2696 USD
CY2016Q3 us-gaap Available For Sale Securities
AvailableForSaleSecurities
24132453 USD
CY2015Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
24808320 USD
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
594 USD
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
33494 USD
CY2015Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
24775420 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
279000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
221000 USD
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
354063 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1934258 USD
CY2016Q3 us-gaap Restructuring Charges
RestructuringCharges
385233 USD
CY2015Q3 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
385233 USD
us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0 USD
CY2016Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
22000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
658000 USD
us-gaap Reimbursement Revenue
ReimbursementRevenue
31000 USD
us-gaap Reimbursement Revenue
ReimbursementRevenue
38000 USD
CY2016Q3 us-gaap Reimbursement Revenue
ReimbursementRevenue
0 USD
CY2016Q3 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
11600000 USD
CY2015Q3 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0 USD

Files In Submission

Name View Source Status
0001144204-16-132256-index-headers.html Edgar Link pending
0001144204-16-132256-index.html Edgar Link pending
0001144204-16-132256.txt Edgar Link pending
0001144204-16-132256-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
lpcn-20160930.xml Edgar Link completed
lpcn-20160930.xsd Edgar Link pending
lpcn-20160930_cal.xml Edgar Link unprocessable
lpcn-20160930_def.xml Edgar Link unprocessable
lpcn-20160930_lab.xml Edgar Link unprocessable
lpcn-20160930_pre.xml Edgar Link unprocessable
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
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
v451236_10q.htm Edgar Link pending
v451236_ex31-1.htm Edgar Link pending
v451236_ex31-2.htm Edgar Link pending
v451236_ex32-1.htm Edgar Link pending
v451236_ex32-2.htm Edgar Link pending