$LWLG
Lightwave Logic, Inc.

2015 Q4 Form 10-Q Financial Statement

#000155335015001247 Filed on November 16, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $290.0K $880.0K $330.0K
YoY Change -12.12% 109.52% 0.0%
% of Gross Profit
Research & Development $510.0K $1.050M $900.0K
YoY Change -43.33% 41.61% 80.0%
% of Gross Profit
Depreciation & Amortization $50.00K $41.34K $40.00K
YoY Change 25.0% 18.66% 0.0%
% of Gross Profit
Operating Expenses $800.0K $1.930M $1.240M
YoY Change -35.48% 66.28% 47.62%
Operating Profit -$1.930M
YoY Change 66.27%
Interest Expense $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$800.0K -$1.930M -$1.240M
YoY Change -35.48% 64.96% 47.62%
Income Tax
% Of Pretax Income
Net Earnings -$800.0K -$1.930M -$1.240M
YoY Change -35.48% 64.3% 47.62%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 -$0.03 -$0.02
COMMON SHARES
Basic Shares Outstanding 61.25M shares 61.25M shares 58.36M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.730M $2.140M $3.170M
YoY Change 17.67% -49.17% 39.65%
Cash & Equivalents $3.730M $2.140M $3.166M
Short-Term Investments
Other Short-Term Assets $260.0K $220.0K $130.0K
YoY Change 100.0% 29.41% 0.0%
Inventory
Prepaid Expenses $215.6K $128.2K
Receivables
Other Receivables
Total Short-Term Assets $4.000M $2.358M $3.294M
YoY Change 21.43% -46.24% 37.09%
LONG-TERM ASSETS
Property, Plant & Equipment $500.0K $510.3K $375.2K
YoY Change 33.25% 26.42% 25.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.110M $1.129M $985.3K
YoY Change 12.66% 12.17% 17.03%
TOTAL ASSETS
Total Short-Term Assets $4.000M $2.358M $3.294M
Total Long-Term Assets $1.110M $1.129M $985.3K
Total Assets $5.110M $3.486M $4.279M
YoY Change 19.41% -35.34% 31.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.00K $78.90K $178.2K
YoY Change -83.16% -76.04% 172.38%
Accrued Expenses $70.00K $72.18K $33.35K
YoY Change 109.88% -29.95% 319.59%
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 $100.0K $160.0K $220.0K
YoY Change -54.55% -68.0% 83.33%
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 $100.0K $160.0K $220.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $100.0K $163.0K $221.8K
YoY Change -54.92% -67.53% 81.57%
SHAREHOLDERS EQUITY
Retained Earnings -$40.80M -$36.75M
YoY Change 14.88% 13.63%
Common Stock $44.12M $40.81M
YoY Change 9.2% 15.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.010M $3.323M $4.058M
YoY Change
Total Liabilities & Shareholders Equity $5.110M $3.486M $4.279M
YoY Change 19.41% -35.34% 31.89%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income -$800.0K -$1.930M -$1.240M
YoY Change -35.48% 64.3% 47.62%
Depreciation, Depletion And Amortization $50.00K $41.34K $40.00K
YoY Change 25.0% 18.66% 0.0%
Cash From Operating Activities -$780.0K -$730.0K -$1.070M
YoY Change -27.1% 28.07% 22.99%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K -$40.00K -$20.00K
YoY Change 100.0% -71.43% 100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$40.00K -$40.00K -$20.00K
YoY Change 100.0% -71.43% 100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.400M 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -780.0K -730.0K -1.070M
Cash From Investing Activities -40.00K -40.00K -20.00K
Cash From Financing Activities 2.400M 0.000 0.000
Net Change In Cash 1.580M -770.0K -1.090M
YoY Change -244.95% -162.6% 211.43%
FREE CASH FLOW
Cash From Operating Activities -$780.0K -$730.0K -$1.070M
Capital Expenditures -$40.00K -$40.00K -$20.00K
Free Cash Flow -$740.0K -$690.0K -$1.050M
YoY Change -29.52% 60.47% 22.09%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
128227 USD
CY2015Q3 us-gaap Assets Current
AssetsCurrent
2357710 USD
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
58382 USD
CY2015Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
44063660 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3165940 USD
CY2015Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
215565 USD
CY2014Q4 us-gaap Assets Current
AssetsCurrent
3294167 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
510301 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
375227 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
618416 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
610029 USD
CY2015Q3 us-gaap Assets
Assets
3486427 USD
CY2014Q4 us-gaap Assets
Assets
4279423 USD
CY2015Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
78900 USD
CY2014Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
178165 USD
CY2015Q3 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
11950 USD
CY2014Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
10323 USD
CY2015Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
72183 USD
CY2014Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
33353 USD
CY2015Q3 us-gaap Liabilities
Liabilities
163033 USD
CY2014Q4 us-gaap Liabilities
Liabilities
221841 USD
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2015Q3 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2015Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2015Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
61251008 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
58381854 shares
CY2015Q3 us-gaap Common Stock Value
CommonStockValue
61251 USD
CY2014Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
40753189 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-40801517 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-36753989 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
3323394 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
4057582 USD
CY2015Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3486427 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-4047715 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-3157197 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
187 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
378 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1929924 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1160723 USD
CY2015Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
63 USD
CY2014Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
255 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-1929861 USD
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.03
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
61247805 shares
CY2014Q3 us-gaap Interest Expense
InterestExpense
14121 USD
us-gaap Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
119036 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1286597 USD
us-gaap Share Based Compensation
ShareBasedCompensation
466671 USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
42963 USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
24862 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
126637 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
110054 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
87338 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
250565 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
39259 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2073865 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
19533 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
70261 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
204189 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-270098 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-274450 USD
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
USD
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
153830 USD
lwlg Common Stock Issued To Institutional Investor Value
CommonStockIssuedToInstitutionalInvestorValue
USD
lwlg Common Stock Issued To Institutional Investor Value
CommonStockIssuedToInstitutionalInvestorValue
1036148 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1915000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-99265 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
263885 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
1627 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
59468 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
38830 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
95099 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2668697 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4329978 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1023795 USD
us-gaap Nature Of Operations
NatureOfOperations
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="margin: 0px; font-family: 'times new roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"><b>Nature of Business</b></font></p> <p style="margin: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="margin: 0px; font-family: 'times new roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">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';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="margin: 0px; font-family: 'times new roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">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.</font></p> </div>
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P20Y
CY2015Q3 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
680118 USD
CY2014Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
660586 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
61702 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
11146 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
11146 USD
lwlg Expense For Abandoned Patents
ExpenseForAbandonedPatents
0 USD
CY2015Q3 lwlg Approximate Cash Position
ApproximateCashPosition
1750000 USD
lwlg Approximate Monthly Expenditures
ApproximateMonthlyExpenditures
295000 USD
lwlg Agreement To Sell Invest Common Stock Value Upper Limit Institutional Investor
AgreementToSellInvestCommonStockValueUpperLimitInstitutionalInvestor
20000000 USD
lwlg Agreement With Institutional Investor Term
AgreementWithInstitutionalInvestorTerm
P30M
lwlg Remaining Funds Available Under Agreement Guarantees And Other Commitments By Institutional Investor
RemainingFundsAvailableUnderAgreementGuaranteesAndOtherCommitmentsByInstitutionalInvestor
18485352 USD
lwlg Proceeds From Issuance Of Private Placement Transaction One
ProceedsFromIssuanceOfPrivatePlacementTransactionOne
1915000 USD
CY2015Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1002427 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
751862 USD
CY2015Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
492126 USD
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
376635 USD
us-gaap Depreciation
Depreciation
115491 USD
us-gaap Depreciation
Depreciation
98908 USD
CY2015Q3 us-gaap Depreciation
Depreciation
41338 USD
CY2014Q3 us-gaap Depreciation
Depreciation
34837 USD
lwlg Expense For Abandoned Patents
ExpenseForAbandonedPatents
0 USD
dei Entity Central Index Key
EntityCentralIndexKey
0001325964
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2015-09-30
dei Amendment Flag
AmendmentFlag
false
CY2015Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3715 USD
CY2014Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3715 USD
CY2015Q3 lwlg Expense For Abandoned Patents
ExpenseForAbandonedPatents
0 USD
CY2014Q3 lwlg Expense For Abandoned Patents
ExpenseForAbandonedPatents
0 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.68 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.79 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0149 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0170 pure
CY2015Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
273145 USD
CY2015Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
61253780 shares
dei Entity Registrant Name
EntityRegistrantName
Lightwave Logic, Inc.
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">Black-Scholes</div>
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3

Files In Submission

Name View Source Status
0001553350-15-001247-index-headers.html Edgar Link pending
0001553350-15-001247-index.html Edgar Link pending
0001553350-15-001247.txt Edgar Link pending
0001553350-15-001247-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
lwlg-20150930.xml Edgar Link completed
lwlg-20150930.xsd Edgar Link pending
lwlg-20150930_cal.xml Edgar Link unprocessable
lwlg-20150930_def.xml Edgar Link unprocessable
lwlg-20150930_lab.xml Edgar Link unprocessable
lwlg-20150930_pre.xml Edgar Link unprocessable
lwlg_10q.htm Edgar Link pending
lwlg_ex10z4.htm Edgar Link pending
lwlg_ex31z1.htm Edgar Link pending
lwlg_ex31z2.htm Edgar Link pending
lwlg_ex32z1.htm Edgar Link pending
lwlg_ex32z2.htm Edgar Link pending
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
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