$LWLG
Lightwave Logic, Inc.

2021 Q1 Form 10-K Financial Statement

#000155335021000261 Filed on March 31, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $548.2K $445.1K $2.070M
YoY Change -9.6% -8.4% 3.52%
% of Gross Profit
Research & Development $1.348M $1.140M $4.529M
YoY Change 13.26% 18.33% 4.87%
% of Gross Profit
Depreciation & Amortization $174.0K $195.1K $701.0K
YoY Change -2.41% -2.22% 13.48%
% of Gross Profit
Operating Expenses $1.896M $1.582M $4.529M
YoY Change 5.54% 9.16% 4.87%
Operating Profit -$1.896M -$6.600M
YoY Change 5.54%
Interest Expense -$250.0K -$24.57K $116.4K
YoY Change 706.88% -27.42% -71.46%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.735M -$1.607M -$6.716M
YoY Change -5.04% 8.32% -0.17%
Income Tax
% Of Pretax Income
Net Earnings -$1.735M -$1.607M -$6.716M
YoY Change -5.04% 8.32% -0.17%
Net Earnings / Revenue
Basic Earnings Per Share -$0.07
Diluted Earnings Per Share -$17.39K -$16.82K -$73.11K
COMMON SHARES
Basic Shares Outstanding 101.8M shares 95.19M shares 91.86M shares
Diluted Shares Outstanding 91.86M shares

Balance Sheet

Concept 2021 Q1 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.521M $3.307M $3.307M
YoY Change 221.53% 47.86% 47.86%
Cash & Equivalents $6.521M $3.307M $3.307M
Short-Term Investments
Other Short-Term Assets $226.3K $567.2K $567.2K
YoY Change -40.67% 52.25% 52.25%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.748M $3.874M $3.874M
YoY Change 180.02% 48.48% 48.48%
LONG-TERM ASSETS
Property, Plant & Equipment $2.186M $1.874M $2.577M
YoY Change -28.69% -22.47% -21.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.619M
YoY Change -10.0%
Total Long-Term Assets $3.749M $3.493M $3.493M
YoY Change -6.08% -17.15% -17.15%
TOTAL ASSETS
Total Short-Term Assets $6.748M $3.874M $3.874M
Total Long-Term Assets $3.749M $3.493M $3.493M
Total Assets $10.50M $7.367M $7.367M
YoY Change 63.97% 7.94% 7.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $108.2K $169.2K $169.3K
YoY Change -37.45% 91.41% 91.42%
Accrued Expenses $197.1K $81.40K $248.4K
YoY Change 11.38% 23.76% 11.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $410.7K $410.7K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $377.8K $933.0K $933.0K
YoY Change -56.86% -6.47% -6.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $604.4K $658.3K $658.3K
YoY Change -27.09% -28.41% -28.41%
Total Long-Term Liabilities $604.4K $658.3K $658.3K
YoY Change -27.1% -28.41% -28.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $377.8K $933.0K $933.0K
Total Long-Term Liabilities $604.4K $658.3K $658.3K
Total Liabilities $982.2K $1.591M $1.591M
YoY Change -42.39% -16.99% -16.99%
SHAREHOLDERS EQUITY
Retained Earnings -$72.71M -$70.97M
YoY Change 10.45%
Common Stock $82.22M $76.75M
YoY Change 10.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.515M $5.775M $5.775M
YoY Change
Total Liabilities & Shareholders Equity $10.50M $7.367M $7.367M
YoY Change 63.97% 7.94% 7.94%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$1.735M -$1.607M -$6.716M
YoY Change -5.04% 8.32% -0.17%
Depreciation, Depletion And Amortization $174.0K $195.1K $701.0K
YoY Change -2.41% -2.22% 13.48%
Cash From Operating Activities -$1.253M -$1.349M -$4.874M
YoY Change -5.21% 11.37% 2.27%
INVESTING ACTIVITIES
Capital Expenditures $486.4K -$132.7K $158.1K
YoY Change 8983.23% 247.99% -29.27%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$493.6K -$132.7K -$218.0K
YoY Change 3555.5% 247.99% -28.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.954M
YoY Change 266.39%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $4.962M 2.588M $6.162M
YoY Change 340.01% 96.35% 20.04%
NET CHANGE
Cash From Operating Activities -$1.253M -1.349M -$4.874M
Cash From Investing Activities -$493.6K -132.7K -$218.0K
Cash From Financing Activities $4.962M 2.588M $6.162M
Net Change In Cash $3.215M 1.106M $1.070M
YoY Change -1644.96% 1513.59% 1634.06%
FREE CASH FLOW
Cash From Operating Activities -$1.253M -$1.349M -$4.874M
Capital Expenditures $486.4K -$132.7K $158.1K
Free Cash Flow -$1.740M -$1.217M -$5.032M
YoY Change 31.05% 3.69% 0.85%

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<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">History and Nature of Business</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:0pt; margin-bottom:0pt; ">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 to obtain a revenue stream from datacom and telecom devices, sales of non-linear optical polymers, and product development agreements prior to moving into full-scale production. </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">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> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic which continues to spread throughout the United States. In mid March 2020 the Governor of Colorado declared a health emergency and issued an order to close all nonessential businesses. The Company temporarily curtailed most of its business operations from mid March 2020 through May 1, 2020. The Company is currently operating under the guidelines of the State of Colorado Department of Public Health and Environment and the Governor of Colorado’s Executive Order, Safer-at Home, as amended. </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">Lightwave Logic, Inc. (the “Company”) was organized under the laws of the State of Nevada in 1997, and the Company commenced with its current business plan in 2004. </p>
CY2020 us-gaap Use Of Estimates
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<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">Estimates</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:0pt; margin-bottom:0pt; ">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future, actual results could differ from the estimates. </p>
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">Concentration of Credit Risk</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:0pt; margin-bottom:0pt; ">Certain financial instruments potentially subject the Company to concentrations of credit risk. These financial instruments consist primarily of cash. At December 31, 2020, the Company did have deposits with a financial institution that exceed the Federal Depository Insurance coverage. </p>
CY2020 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
CY2020 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P20Y
CY2020 lwlg Approximate Monthly Expenditures
ApproximateMonthlyExpenditures
700000 USD
CY2020Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
140394 USD
CY2019Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
USD
CY2020Q4 lwlg Prototype Devices
PrototypeDevices
118206 USD
CY2019Q4 lwlg Prototype Devices
PrototypeDevices
27810 USD
CY2020Q4 lwlg Research Development Credit
ResearchDevelopmentCredit
101629 USD
CY2019Q4 lwlg Research Development Credit
ResearchDevelopmentCredit
158612 USD
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
93569 USD
CY2019Q4 us-gaap Prepaid Insurance
PrepaidInsurance
89828 USD
CY2020Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
76862 USD
CY2019Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
58756 USD
CY2020Q4 us-gaap Prepaid Rent
PrepaidRent
36525 USD
CY2019Q4 us-gaap Prepaid Rent
PrepaidRent
36525 USD
CY2020Q4 lwlg Prepaid Materials
PrepaidMaterials
USD
CY2019Q4 lwlg Prepaid Materials
PrepaidMaterials
1018 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
567185 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
372549 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4238398 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4080337 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2364849 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1663834 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1873549 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2416503 USD
CY2020 us-gaap Depreciation
Depreciation
701015 USD
CY2019 us-gaap Depreciation
Depreciation
617741 USD
CY2020Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1327000 USD
CY2019Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1267077 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
411000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
327596 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
916000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
939481 USD
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
83404 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
80953 USD
CY2020 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
USD
CY2019 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
USD
CY2020Q4 lwlg Current Term Purchase Commitment Interest Rate
CurrentTermPurchaseCommitmentInterestRate
0.0000 pure
CY2020Q4 lwlg Current Portion Of Equipment Purchase
CurrentPortionOfEquipmentPurchase
13107 USD
CY2019Q4 lwlg Current Portion Of Equipment Purchase
CurrentPortionOfEquipmentPurchase
630329 USD
CY2020 us-gaap Long Term Purchase Commitment Description
LongTermPurchaseCommitmentDescription
2021
CY2020Q4 lwlg Long Term Purchase Commitment Interest Rate
LongTermPurchaseCommitmentInterestRate
0.0000 pure
CY2020Q4 lwlg Long Term Equipment Purchase Net Of Current Portion
LongTermEquipmentPurchaseNetOfCurrentPortion
USD
CY2019Q4 lwlg Long Term Equipment Purchase Net Of Current Portion
LongTermEquipmentPurchaseNetOfCurrentPortion
52427 USD
CY2020Q4 lwlg Aggregate Long Term Equipment Purchase
AggregateLongTermEquipmentPurchase
13107 USD
CY2019Q4 lwlg Aggregate Long Term Equipment Purchase
AggregateLongTermEquipmentPurchase
682756 USD
CY2017Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P61M
CY2017Q4 lwlg Lease Beginning Date1
LeaseBeginningDate1
2017-11-01
CY2017Q4 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2022-11-30
CY2017Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P24M
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
168824 USD
CY2017Q4 lwlg Percentage Of Rent Increase Annual Base Rent
PercentageOfRentIncreaseAnnualBaseRent
0.03 pure
CY2017Q4 lwlg Prepaid Rents
PrepaidRents
347045 USD
CY2017Q4 lwlg Prepaid Estimated Tenants Proportionate Share Of Operating Lease Expenses
PrepaidEstimatedTenantsProportionateShareOfOperatingLeaseExpenses
186293 USD
CY2017Q4 us-gaap Security Deposit
SecurityDeposit
36524 USD
CY2017Q4 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
260000 USD
CY2017Q4 lwlg Percentage Of Estimated Incremental Borrowing Rate
PercentageOfEstimatedIncrementalBorrowingRate
0.065 pure
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
885094 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
885094 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
201501 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
207563 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
213781 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
182624 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
805469 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
102015 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
703454 USD
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
USD
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
USD
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1972000 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1779000 USD
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1972000 USD
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1779000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1544000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1413000 USD
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-441000 USD
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.60 pure
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
pure
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.805 pure
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0147 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.06 pure
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-404000 USD
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.06 pure
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
13000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
pure
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
38000 USD
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.01 pure
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1972000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.27 pure
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1779000 USD
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.26 pure
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
pure
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
15338000 USD
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
13524000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
2178000 USD
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
2020000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17516000 USD
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
15544000 USD
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
USD
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
USD
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1972000 USD
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1779000 USD
CY2020Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
56805000 USD
CY2020 us-gaap Operating Loss Carryforwards Expiration Date
OperatingLossCarryforwardsExpirationDate
2037-12-31
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
Black-Scholes
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.64 pure
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.78 pure
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0030 pure
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0182 pure
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0271 pure
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
161831 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
635188 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
680867 USD
CY2020 lwlg Number Of Warrants Exercised
NumberOfWarrantsExercised
2073052 shares
CY2020 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1658442 USD
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
53832 USD
CY2019 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
45663 USD

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