2022 Q4 Form 10-Q Financial Statement

#000155335022000876 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.317M $1.145M $2.679M
YoY Change -50.84% 84.96% 502.0%
% of Gross Profit
Research & Development $3.811M $3.588M $4.715M
YoY Change -19.16% -1.2% 313.59%
% of Gross Profit
Depreciation & Amortization $286.9K $246.5K $236.4K
YoY Change 21.39% 9.69% 21.18%
% of Gross Profit
Operating Expenses $5.128M $3.588M $7.394M
YoY Change -30.64% -15.59% 367.4%
Operating Profit -$4.732M
YoY Change 11.34%
Interest Expense $5.430K $73.17K -$714.5K
YoY Change -100.76% 3504.43% 2807.86%
% of Operating Profit
Other Income/Expense, Net $54.26K $27.02K
YoY Change
Pretax Income -$5.069M -$4.803M -$8.109M
YoY Change -37.49% 13.07% 404.72%
Income Tax
% Of Pretax Income
Net Earnings -$5.069M -$4.803M -$8.109M
YoY Change -37.49% 13.07% 404.72%
Net Earnings / Revenue
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share -$0.04 -$0.04 -$74.28K
COMMON SHARES
Basic Shares Outstanding 112.6M shares 112.1M shares
Diluted Shares Outstanding 112.1M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.10M $25.02M $23.43M
YoY Change 2.86% 105.18% 608.66%
Cash & Equivalents $24.10M $25.02M $23.43M
Short-Term Investments
Other Short-Term Assets $611.3K $647.1K $232.3K
YoY Change 163.16% 86.71% -59.04%
Inventory
Prepaid Expenses
Receivables
Other Receivables $13.67K
Total Short-Term Assets $25.36M $26.26M $23.66M
YoY Change 7.14% 109.36% 510.9%
LONG-TERM ASSETS
Property, Plant & Equipment $2.519M $2.651M $2.716M
YoY Change -7.23% -2.62% 44.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.389M $1.385M
YoY Change 0.29% -14.5%
Total Long-Term Assets $3.908M $3.892M $3.564M
YoY Change 9.66% 8.46% 2.02%
TOTAL ASSETS
Total Short-Term Assets $25.36M $26.26M $23.66M
Total Long-Term Assets $3.908M $3.892M $3.564M
Total Assets $29.26M $30.15M $27.23M
YoY Change 7.47% 86.91% 269.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $791.7K $582.8K $215.7K
YoY Change 266.97% 210.8% 27.46%
Accrued Expenses $570.4K $301.1K $1.296M
YoY Change -56.0% -17.63% 1492.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.504M $1.089M $1.586M
YoY Change -5.17% 65.79% 69.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $206.4K $265.6K $438.3K
YoY Change -52.91% -46.29% -33.41%
Total Long-Term Liabilities $206.4K $265.6K $438.3K
YoY Change -52.91% -46.29% -33.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.504M $1.089M $1.586M
Total Long-Term Liabilities $206.4K $265.6K $438.3K
Total Liabilities $1.710M $1.355M $2.024M
YoY Change -15.5% 17.67% 27.21%
SHAREHOLDERS EQUITY
Retained Earnings -$106.8M -$101.8M -$89.60M
YoY Change 19.23% 26.25%
Common Stock $134.5M $130.8M $114.8M
YoY Change 17.17% 49.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $27.55M $28.79M $25.20M
YoY Change
Total Liabilities & Shareholders Equity $29.26M $30.15M $27.23M
YoY Change 7.47% 86.91% 269.61%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q4
OPERATING ACTIVITIES
Net Income -$5.069M -$4.803M -$8.109M
YoY Change -37.49% 13.07% 404.72%
Depreciation, Depletion And Amortization $286.9K $246.5K $236.4K
YoY Change 21.39% 9.69% 21.18%
Cash From Operating Activities -$2.766M -$2.455M -$5.739M
YoY Change -51.81% 87.75% 325.36%
INVESTING ACTIVITIES
Capital Expenditures $348.4K -$804.7K -$254.2K
YoY Change -237.04% 288.2% 91.57%
Acquisitions
YoY Change
Other Investing Activities -$53.94K -$588.2K
YoY Change
Cash From Investing Activities -$402.3K -$1.393M -$254.2K
YoY Change 58.26% 571.97% 91.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $17.23M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.248M 4.040M 17.23M
YoY Change -86.95% -2081.46% 565.75%
NET CHANGE
Cash From Operating Activities -2.766M -2.455M -5.739M
Cash From Investing Activities -402.3K -1.393M -254.2K
Cash From Financing Activities 2.248M 4.040M 17.23M
Net Change In Cash -919.5K 191.9K 11.24M
YoY Change -108.18% -111.16% 915.83%
FREE CASH FLOW
Cash From Operating Activities -$2.766M -$2.455M -$5.739M
Capital Expenditures $348.4K -$804.7K -$254.2K
Free Cash Flow -$3.114M -$1.650M -$5.485M
YoY Change -43.23% 49.99% 350.86%

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us-gaap Nature Of Operations
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<p id="xdx_846_eus-gaap--NatureOfOperations_zXPzuzPLxXq7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_86E_zm0SBuPo8yCh">Nature of Business</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">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 technology licensing agreements, technology transfer agreements and the production and direct sale of its own electro-optic device components.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
us-gaap Reclassifications
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<p id="xdx_847_eus-gaap--Reclassifications_zbsUrTYHmgb8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_86F_zGKES8TxMiG">Reclassifications</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="background-color: white">Certain reclassifications have been made to the 2021 financial statement in order to conform to the 2022 financial statement presentation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p>
lwlg Expected Expenditures Per Month
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
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us-gaap Defined Contribution Plan Cost Recognized
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