$LPCN
Lipocine Inc.

2018 Q4 Form 10-Q Financial Statement

#000114420418057761 Filed on November 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $990.0K $930.0K $2.720M
YoY Change -72.8% -65.81% 95.68%
% of Gross Profit
Research & Development $2.180M $1.423M $2.047M
YoY Change 23.16% -30.47% 35.84%
% of Gross Profit
Depreciation & Amortization $10.00K $0.00 $10.00K
YoY Change 0.0% -100.0%
% of Gross Profit
Operating Expenses $3.170M $2.353M $4.766M
YoY Change -41.3% -50.63% 45.03%
Operating Profit -$3.171M -$2.353M -$4.766M
YoY Change -41.3% -50.63% 45.03%
Interest Expense $218.6K $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$50.00K -$106.0K $65.81K
YoY Change -171.43% -261.09% 31.62%
Pretax Income -$3.230M -$2.459M -$4.700M
YoY Change -39.4% -47.68% 45.27%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.225M -$2.459M -$4.700M
YoY Change -39.5% -47.68% 45.27%
Net Earnings / Revenue
Basic Earnings Per Share -$0.15 -$0.12 -$0.22
Diluted Earnings Per Share -$0.15 -$0.12 -$0.22
COMMON SHARES
Basic Shares Outstanding 21.46M shares 21.27M shares 20.89M shares
Diluted Shares Outstanding 21.27M shares 20.89M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.25M $16.88M $25.68M
YoY Change -28.97% -34.27% -10.96%
Cash & Equivalents $8.078M $4.803M $9.271M
Short-Term Investments $7.170M $12.08M $16.41M
Other Short-Term Assets $5.520M $5.730M $450.0K
YoY Change 1246.34% 1173.33% -2.17%
Inventory
Prepaid Expenses
Receivables $40.00K $30.00K $10.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $20.81M $22.64M $26.14M
YoY Change -17.49% -13.4% -11.12%
LONG-TERM ASSETS
Property, Plant & Equipment $19.00K $23.44K $80.00K
YoY Change -74.69% -70.7% -27.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.75K $23.75K $30.00K
YoY Change -22.76% -20.82% 0.0%
Total Long-Term Assets $42.75K $47.20K $120.0K
YoY Change -59.6% -60.67% -14.29%
TOTAL ASSETS
Total Short-Term Assets $20.81M $22.64M $26.14M
Total Long-Term Assets $42.75K $47.20K $120.0K
Total Assets $20.85M $22.69M $26.26M
YoY Change -17.66% -13.61% -11.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $671.3K $239.9K $800.0K
YoY Change 12.24% -70.01% -6.98%
Accrued Expenses $487.1K $488.6K $1.680M
YoY Change -67.46% -70.91% 136.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.330M $2.340M
YoY Change
Total Short-Term Liabilities $4.492M $3.070M $2.480M
YoY Change -29.21% 23.77% 57.96%
LONG-TERM LIABILITIES
Long-Term Debt $6.927M $7.854M $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $6.927M $7.854M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.492M $3.070M $2.480M
Total Long-Term Liabilities $6.927M $7.854M $0.00
Total Liabilities $11.42M $10.92M $2.480M
YoY Change 79.95% 340.46% 57.96%
SHAREHOLDERS EQUITY
Retained Earnings -$138.1M -$134.8M
YoY Change 9.22%
Common Stock $2.174K $2.134K
YoY Change 2.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $40.71K $40.71K
YoY Change 0.0%
Treasury Stock Shares $5.710K 5.710K shares 5.710K shares
Shareholders Equity $9.434M $11.76M $23.77M
YoY Change
Total Liabilities & Shareholders Equity $20.85M $22.69M $26.26M
YoY Change -17.66% -13.61% -11.13%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$3.225M -$2.459M -$4.700M
YoY Change -39.5% -47.68% 45.27%
Depreciation, Depletion And Amortization $10.00K $0.00 $10.00K
YoY Change 0.0% -100.0%
Cash From Operating Activities -$2.230M -$3.360M -$4.570M
YoY Change -48.02% -26.48% 13.12%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $4.940M $6.470M -$5.170M
YoY Change -372.93% -225.15% 42.82%
Cash From Investing Activities $4.940M $6.470M -$5.170M
YoY Change -372.93% -225.15% 42.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $91.00K $2.300M
YoY Change -96.04%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 560.0K 90.00K 2.380M
YoY Change 1020.0% -96.22%
NET CHANGE
Cash From Operating Activities -2.230M -3.360M -4.570M
Cash From Investing Activities 4.940M 6.470M -5.170M
Cash From Financing Activities 560.0K 90.00K 2.380M
Net Change In Cash 3.270M 3.200M -7.360M
YoY Change -154.05% -143.48% -3.92%
FREE CASH FLOW
Cash From Operating Activities -$2.230M -$3.360M -$4.570M
Capital Expenditures $0.00
Free Cash Flow -$4.570M
YoY Change 13.12%

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us-gaap Collaborative Arrangement Rights And Obligations
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All obligations under the prior license agreement have been completed except that Lipocine will owe Abbott a perpetual 1% royalty on net sales.
lpcn Description Of Terms Of Service Agreement
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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 which expired January 23, 2015
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dei Document Type
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2018-09-30
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2018
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Q3
dei Entity Registrant Name
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Lipocine Inc.
dei Entity Central Index Key
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0001535955
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Non-accelerated Filer
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LPCN
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Revenues
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us-gaap Revenues
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428031 USD
us-gaap Revenues
Revenues
0 USD

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