2015 Q2 Form 10-Q Financial Statement

#000155335015000488 Filed on May 15, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $0.00 $2.500K
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $430.0K $420.0K $400.0K
YoY Change 10.26% 5.0% -11.11%
% of Gross Profit
Research & Development $619.5K $650.0K $585.5K
YoY Change 0.17% 11.02% 28.57%
% of Gross Profit
Depreciation & Amortization $37.41K $36.75K $30.21K
YoY Change 10.47% 21.64% 33.59%
% of Gross Profit
Operating Expenses $1.052M $1.070M $987.7K
YoY Change 4.05% 8.34% 9.38%
Operating Profit
YoY Change
Interest Expense $0.00 $2.741K
YoY Change -100.0% -85.98%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.050M -$1.070M -$990.0K
YoY Change 3.96% 8.08% 7.61%
Income Tax
% Of Pretax Income
Net Earnings -$1.052M -$1.070M -$987.9K
YoY Change 4.05% 8.32% 7.09%
Net Earnings / Revenue -39514.04%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.02 -$0.02 -$0.02
COMMON SHARES
Basic Shares Outstanding 58.42M shares 58.41M shares 53.08M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.920M $2.340M $1.930M
YoY Change -3.63% 21.24% -41.87%
Cash & Equivalents $2.920M $2.339M $1.930M
Short-Term Investments
Other Short-Term Assets $270.0K $110.0K $110.0K
YoY Change 35.0% 0.0% 37.5%
Inventory
Prepaid Expenses $267.1K
Receivables
Other Receivables
Total Short-Term Assets $3.187M $2.453M $2.043M
YoY Change -1.28% 20.07% -39.74%
LONG-TERM ASSETS
Property, Plant & Equipment $522.2K $462.1K $326.2K
YoY Change 59.92% 41.67% -9.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.135M $1.072M $894.8K
YoY Change 26.19% 19.85% 4.04%
TOTAL ASSETS
Total Short-Term Assets $3.187M $2.453M $2.043M
Total Long-Term Assets $1.135M $1.072M $894.8K
Total Assets $4.322M $3.525M $2.938M
YoY Change 4.71% 20.01% -30.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $78.19K $248.4K $195.4K
YoY Change -24.23% 27.12% 50.32%
Accrued Expenses $60.00K $66.30K $50.17K
YoY Change 84.0% 32.16% 401.69%
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 $150.0K $340.0K $310.0K
YoY Change -21.05% 9.68% 47.62%
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 $150.0K $340.0K $310.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $150.0K $341.1K $312.6K
YoY Change -21.2% 9.09% 48.87%
SHAREHOLDERS EQUITY
Retained Earnings -$38.87M -$37.82M -$15.83K
YoY Change 13.19% 238854.82%
Common Stock $43.04M $41.00M $35.96M
YoY Change 12.44% 14.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.173M $3.180M $2.625M
YoY Change
Total Liabilities & Shareholders Equity $4.322M $3.525M $2.938M
YoY Change 4.71% 20.01% -30.88%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$1.052M -$1.070M -$987.9K
YoY Change 4.05% 8.32% 7.09%
Depreciation, Depletion And Amortization $37.41K $36.75K $30.21K
YoY Change 10.47% 21.64% 33.59%
Cash From Operating Activities -$1.230M -$699.5K -$520.2K
YoY Change 25.51% 34.46% -2.97%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K $123.7K $58.06K
YoY Change 150.0% 113.0% -32.78%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$100.0K -$127.6K -$86.81K
YoY Change 150.0% 46.98% -10.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.920M $266.4K
YoY Change -9.43% -73.77%
NET CHANGE
Cash From Operating Activities -1.230M -$699.5K -$520.2K
Cash From Investing Activities -100.0K -$127.6K -$86.81K
Cash From Financing Activities 1.920M $266.4K
Net Change In Cash 590.0K -$827.1K -$340.6K
YoY Change -46.36% 142.83% -189.08%
FREE CASH FLOW
Cash From Operating Activities -$1.230M -$699.5K -$520.2K
Capital Expenditures -$100.0K $123.7K $58.06K
Free Cash Flow -$1.130M -$823.2K -$578.3K
YoY Change 20.21% 42.35% -7.11%

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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"><p style="margin: 0px; font-family: 'times new roman';"><b>Nature of Business</b></p> <p style="margin: 0px; font-family: 'times new roman';"><br/></p> <p style="margin: 0px; font-family: 'times new roman';"><font>Lightwave Logic, Inc. is a technology Company focused on the development of next generation photonic devices and non-linear optical polymer materials systems for applications in high speed fiber-optic data communications and optical computing markets. Currently the Company is in various stages of photonic device and materials development and evaluation with potential customers and strategic partners. The Company expects the next revenue stream to be in sales of non-linear optical polymers, prototype devices and product development agreements prior to moving into production.</font></p> <p style="margin: 0px; font-family: 'times new roman';"><br/></p> <p style="margin: 0px; font-family: 'times new roman';">The Company's current development activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize the Company's technology now under development.</p></div>
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