2021 Form 10-K Financial Statement
#000155335022000198 Filed on March 01, 2022
Income Statement
| Concept | 2021 | 2020 |
|---|---|---|
| Revenue | ||
| YoY Change | ||
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | $0.00 | |
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $4.520M | $2.070M |
| YoY Change | 118.33% | 3.52% |
| % of Gross Profit | ||
| Research & Development | $12.48M | $4.529M |
| YoY Change | 175.44% | 4.87% |
| % of Gross Profit | ||
| Depreciation & Amortization | $878.5K | $701.0K |
| YoY Change | 25.32% | 13.48% |
| % of Gross Profit | ||
| Operating Expenses | $17.00M | $4.529M |
| YoY Change | 275.24% | 4.87% |
| Operating Profit | -$17.00M | -$6.600M |
| YoY Change | 157.52% | |
| Interest Expense | -$2.046M | $116.4K |
| YoY Change | -1857.93% | -71.46% |
| % of Operating Profit | ||
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | -$18.63M | -$6.716M |
| YoY Change | 177.44% | -0.17% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$18.63M | -$6.716M |
| YoY Change | 177.44% | -0.17% |
| Net Earnings / Revenue | ||
| Basic Earnings Per Share | -$0.18 | -$0.07 |
| Diluted Earnings Per Share | -$177.1K | -$73.11K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 105.2M shares | 91.86M shares |
| Diluted Shares Outstanding | 105.2M shares | 91.86M shares |
Balance Sheet
| Concept | 2021 | 2020 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $23.43M | $3.307M |
| YoY Change | 608.66% | 47.86% |
| Cash & Equivalents | $23.43M | $3.307M |
| Short-Term Investments | ||
| Other Short-Term Assets | $232.3K | $567.2K |
| YoY Change | -59.04% | 52.25% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $23.66M | $3.874M |
| YoY Change | 510.9% | 48.48% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $2.716M | $2.577M |
| YoY Change | 5.38% | -21.35% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | ||
| YoY Change | ||
| Total Long-Term Assets | $3.564M | $3.493M |
| YoY Change | 2.02% | -17.15% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $23.66M | $3.874M |
| Total Long-Term Assets | $3.564M | $3.493M |
| Total Assets | $27.23M | $7.367M |
| YoY Change | 269.61% | 7.94% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $215.7K | $169.3K |
| YoY Change | 27.46% | 91.42% |
| Accrued Expenses | $1.296M | $248.4K |
| YoY Change | 421.85% | 11.75% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $410.7K |
| YoY Change | -100.0% | |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $1.586M | $933.0K |
| YoY Change | 69.98% | -6.48% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $438.3K | $658.3K |
| YoY Change | -33.41% | -28.41% |
| Total Long-Term Liabilities | $438.3K | $658.3K |
| YoY Change | -33.41% | -28.41% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $1.586M | $933.0K |
| Total Long-Term Liabilities | $438.3K | $658.3K |
| Total Liabilities | $2.024M | $1.591M |
| YoY Change | 27.21% | -16.99% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $25.20M | $5.775M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $27.23M | $7.367M |
| YoY Change | 269.61% | 7.94% |
Cashflow Statement
| Concept | 2021 | 2020 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$18.63M | -$6.716M |
| YoY Change | 177.44% | -0.17% |
| Depreciation, Depletion And Amortization | $878.5K | $701.0K |
| YoY Change | 25.32% | 13.48% |
| Cash From Operating Activities | -$10.04M | -$4.874M |
| YoY Change | 105.97% | 2.27% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$1.116M | $158.1K |
| YoY Change | -806.17% | -29.27% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | -$1.116M | -$218.0K |
| YoY Change | 412.05% | -28.69% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 31.28M | $6.162M |
| YoY Change | 407.63% | 20.04% |
| NET CHANGE | ||
| Cash From Operating Activities | -10.04M | -$4.874M |
| Cash From Investing Activities | -1.116M | -$218.0K |
| Cash From Financing Activities | 31.28M | $6.162M |
| Net Change In Cash | 20.13M | $1.070M |
| YoY Change | 1780.5% | 1634.06% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$10.04M | -$4.874M |
| Capital Expenditures | -$1.116M | $158.1K |
| Free Cash Flow | -$8.922M | -$5.032M |
| YoY Change | 77.32% | 0.85% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2020 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2020 | us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
53832 | USD |
| CY2021 | dei |
Auditor Firm
AuditorFirmId
|
536 | |
| CY2021Q4 | lwlg |
Current Portion Of Equipment Purchase
CurrentPortionOfEquipmentPurchase
|
USD | |
| CY2021Q4 | lwlg |
Paycheck Protection Program Advance
PaycheckProtectionProgramAdvance
|
USD | |
| CY2021Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
| CY2020Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
| CY2020 | lwlg |
Paycheck Protection Program Loan Forgiveness
PaycheckProtectionProgramLoanForgiveness
|
USD | |
| CY2020 | lwlg |
Cashless Option Exercise
CashlessOptionExercise
|
USD | |
| CY2020 | lwlg |
Paycheck Protection Program Loan Forgiveness
PaycheckProtectionProgramLoanForgiveness
|
USD | |
| CY2021 | lwlg |
Proceeds From Paycheck Protection Program Advance
ProceedsFromPaycheckProtectionProgramAdvance
|
USD | |
| CY2020 | lwlg |
Cashless Option Exercise Tax Payments
CashlessOptionExerciseTaxPayments
|
USD | |
| CY2021Q4 | us-gaap |
Deposits Assets Current
DepositsAssetsCurrent
|
USD | |
| CY2021Q4 | lwlg |
Prototype Devices
PrototypeDevices
|
USD | |
| CY2021Q4 | lwlg |
Research Development Credit
ResearchDevelopmentCredit
|
USD | |
| CY2021 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
USD | |
| CY2020 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2020 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
|
pure | |
| CY2020 | us-gaap |
Income Tax Reconciliation Deductions
IncomeTaxReconciliationDeductions
|
USD | |
| CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
|
pure | |
| CY2020 | us-gaap |
Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
|
USD | |
| CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
|
pure | |
| CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
|
pure | |
| CY2020 | us-gaap |
Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
|
USD | |
| CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
|
pure | |
| CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
pure | |
| CY2020 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
pure | |
| CY2021Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
USD | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
USD |
