2016 Q4 Form 10-Q Financial Statement
#000114420416134293 Filed on November 14, 2016
Income Statement
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $1.000M | $1.100M | $90.00K |
YoY Change | 1150.0% | 1122.22% | |
% of Gross Profit | |||
Research & Development | $6.830M | $500.0K | $500.0K |
YoY Change | 798.68% | 0.0% | |
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $7.830M | $1.670M | $658.0K |
YoY Change | 832.14% | 153.8% | |
Operating Profit | -$7.831M | -$1.670M | -$658.0K |
YoY Change | 828.94% | 153.8% | |
Interest Expense | -$920.0K | -$200.0K | -$60.00K |
YoY Change | 1214.29% | 233.33% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$917.0K | -$200.0K | -$58.00K |
YoY Change | 1248.53% | 244.83% | |
Pretax Income | -$8.750M | -$1.870M | -$720.0K |
YoY Change | 861.54% | 159.72% | |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$8.748M | -$1.870M | -$716.0K |
YoY Change | 860.26% | 161.17% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$346.9K | -$74.15K | -$28.55K |
COMMON SHARES | |||
Basic Shares Outstanding | 13.08M shares | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $27.50M | $11.10M | |
YoY Change | |||
Cash & Equivalents | $27.50M | $11.12M | |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | $0.00 | ||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $27.50M | $11.12M | |
YoY Change | |||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $0.00 | ||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $0.00 | ||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $27.50M | $11.12M | |
Total Long-Term Assets | $0.00 | $0.00 | |
Total Assets | $27.50M | $11.12M | |
YoY Change | |||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $700.0K | $1.000M | |
YoY Change | |||
Accrued Expenses | $500.0K | $1.200M | |
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $300.0K | $2.000M | |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $3.223M | $4.869M | |
YoY Change | -21.94% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $2.900M | |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $2.900M | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.223M | $4.869M | |
Total Long-Term Liabilities | $0.00 | $2.900M | |
Total Liabilities | $3.223M | $7.800M | |
YoY Change | -21.94% | ||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$17.12M | -$8.372M | |
YoY Change | 283.34% | ||
Common Stock | $37.00M | $11.69M | |
YoY Change | 25242.47% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $24.28M | $3.322M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $27.50M | $11.12M | |
YoY Change |
Cashflow Statement
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$8.748M | -$1.870M | -$716.0K |
YoY Change | 860.26% | 161.17% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$2.260M | -$570.0K | -$1.040M |
YoY Change | 326.42% | -45.19% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | -$2.000M |
YoY Change | -100.0% | ||
Cash From Investing Activities | $0.00 | $0.00 | -$2.000M |
YoY Change | -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 | 18.65M | 11.68M | 3.040M |
YoY Change | 3418.87% | 284.21% | |
NET CHANGE | |||
Cash From Operating Activities | -2.260M | -570.0K | -1.040M |
Cash From Investing Activities | 0.000 | 0.000 | -2.000M |
Cash From Financing Activities | 18.65M | 11.68M | 3.040M |
Net Change In Cash | 16.39M | 11.11M | 0.000 |
YoY Change | -7039451398144001000.0% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$2.260M | -$570.0K | -$1.040M |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2015Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-58000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-374000 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-100000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1870000 | USD |
CY2015Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-716000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-3906000 | USD | |
CY2015Q4 | ck0001680048 |
Accrued Interest Related Party Current
AccruedInterestRelatedPartyCurrent
|
168000 | USD |
CY2016Q3 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
632000 | USD |
CY2015Q4 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
0 | USD |
CY2016Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
4869000 | USD |
CY2015Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
4129000 | USD |
CY2016Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
13080547 | shares |
CY2016Q3 | us-gaap |
Cash
Cash
|
11118000 | USD |
CY2015Q4 | us-gaap |
Cash
Cash
|
0 | USD |
CY2016Q3 | us-gaap |
Assets Current
AssetsCurrent
|
11118000 | USD |
CY2016Q3 | us-gaap |
Assets
Assets
|
11118000 | USD |
CY2016Q3 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
1040000 | USD |
CY2016Q3 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
2001000 | USD |
CY2015Q4 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
3571000 | USD |
CY2016Q3 | ck0001680048 |
Accrued Expenses Related Party Current
AccruedExpensesRelatedPartyCurrent
|
750000 | USD |
CY2015Q4 | ck0001680048 |
Accrued Expenses Related Party Current
AccruedExpensesRelatedPartyCurrent
|
375000 | USD |
CY2016Q3 | ck0001680048 |
Accrued Interest Related Party Current
AccruedInterestRelatedPartyCurrent
|
446000 | USD |
CY2016Q3 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
2927000 | USD |
CY2015Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
0 | USD |
CY2016Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2015Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2016Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2015Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2016Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
1000 | USD |
CY2015Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
0 | USD |
CY2016Q3 | us-gaap |
Common Stock Shares Subscriptions
CommonStockSharesSubscriptions
|
0 | USD |
CY2015Q4 | us-gaap |
Common Stock Shares Subscriptions
CommonStockSharesSubscriptions
|
190000 | USD |
CY2016Q3 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
11693000 | USD |
CY2015Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
146000 | USD |
CY2016Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-8372000 | USD |
CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-4466000 | USD |
CY2016Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3322000 | USD |
CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4129000 | USD |
CY2016Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
11118000 | USD |
CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
0 | USD |
CY2016Q3 | us-gaap |
Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
|
673000 | USD |
CY2015Q4 | us-gaap |
Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
|
0 | USD |
CY2016Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2016Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
CY2016Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2016Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2016Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
10962703 | shares |
CY2016Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
10962703 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
2000000 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
2000000 | shares |
CY2016Q3 | us-gaap |
Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
|
0 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
|
250000 | shares |
CY2016Q3 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
569000 | USD |
CY2015Q3 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
570000 | USD |
us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
1718000 | USD | |
us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
1134000 | USD | |
CY2016Q3 | us-gaap |
Research And Development In Process
ResearchAndDevelopmentInProcess
|
0 | USD |
CY2015Q3 | us-gaap |
Research And Development In Process
ResearchAndDevelopmentInProcess
|
0 | USD |
us-gaap |
Research And Development In Process
ResearchAndDevelopmentInProcess
|
0 | USD | |
us-gaap |
Research And Development In Process
ResearchAndDevelopmentInProcess
|
2147000 | USD | |
CY2016Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1101000 | USD |
CY2015Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
88000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1814000 | USD | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
174000 | USD | |
CY2016Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
1670000 | USD |
CY2015Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
658000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
3532000 | USD | |
us-gaap |
Operating Expenses
OperatingExpenses
|
3455000 | USD | |
CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1670000 | USD |
CY2015Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-658000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3532000 | USD | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3455000 | USD | |
CY2016Q3 | us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
46000 | USD |
CY2015Q3 | us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
58000 | USD |
us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
220000 | USD | |
us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
100000 | USD | |
CY2016Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
156000 | USD |
CY2015Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
0 | USD |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
156000 | USD | |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
0 | USD | |
CY2016Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-200000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-3555000 | USD | |
CY2016Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.19 | |
CY2015Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.07 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.39 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.36 | ||
CY2016Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
10089269 | shares |
CY2015Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
10000000 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
10130338 | shares | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
9990099 | shares | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
90000 | USD | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
0 | USD | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-2000 | USD | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
0 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
1025000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
17000 | USD | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
375000 | USD | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
250000 | USD | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
278000 | USD | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
99000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-1866000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-1042000 | USD | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
0 | USD | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
2000000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
0 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-2000000 | USD | |
us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
11083000 | USD | |
us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
0 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
12984000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
3042000 | USD | |
us-gaap |
Cash Period Increase Decrease
CashPeriodIncreaseDecrease
|
11118000 | USD | |
us-gaap |
Cash Period Increase Decrease
CashPeriodIncreaseDecrease
|
0 | USD | |
CY2015Q1 | us-gaap |
Cash
Cash
|
0 | USD |
CY2015Q3 | us-gaap |
Cash
Cash
|
0 | USD |
us-gaap |
Stock Issued1
StockIssued1
|
190000 | USD | |
us-gaap |
Stock Issued1
StockIssued1
|
1000 | USD | |
us-gaap |
Liabilities Assumed1
LiabilitiesAssumed1
|
634000 | USD | |
us-gaap |
Liabilities Assumed1
LiabilitiesAssumed1
|
0 | USD | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
1363000 | USD | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
0 | USD | |
CY2015Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
500000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1500000 | USD | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1000000 | USD | |
us-gaap |
Research And Development Asset Acquired Other Than Through Business Combination Written Off
ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff
|
0 | USD | |
us-gaap |
Research And Development Asset Acquired Other Than Through Business Combination Written Off
ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff
|
2000000 | USD | |
ck0001680048 |
Issuance Of Common Stock Founder Agreement Expenses
IssuanceOfCommonStockFounderAgreementExpenses
|
274000 | USD | |
ck0001680048 |
Issuance Of Common Stock Founder Agreement Expenses
IssuanceOfCommonStockFounderAgreementExpenses
|
0 | USD | |
ck0001680048 |
Issuance Of Common Stock For License Expenses
IssuanceOfCommonStockForLicenseExpenses
|
0 | USD | |
ck0001680048 |
Issuance Of Common Stock For License Expenses
IssuanceOfCommonStockForLicenseExpenses
|
-147000 | USD | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 27.5pt; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-SIZE: 10pt">Use of Estimates</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 27.5pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
274000 | USD | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
12446000 | USD | |
us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
1363000 | USD | |
us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
0 | USD | |
CY2016Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
500000 | USD |
CY2015Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
0 | USD |
CY2016Q3 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
3600000 | USD |
CY2015Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
0 | USD |
CY2015Q3 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
0 | USD |
CY2016Q3 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0137 | pure |
us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0160 | pure | |
CY2016Q3 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
-673000 | USD |
ck0001680048 |
Issuance Of Warrants In Conjunction With Notes Payable
IssuanceOfWarrantsInConjunctionWithNotesPayable
|
-634000 | USD | |
CY2015Q4 | us-gaap |
Notes Payable
NotesPayable
|
0 | USD |
CY2016Q3 | us-gaap |
Notes Payable
NotesPayable
|
2927000 | USD |
CY2015Q3 | ck0001680048 |
Percentage Of Warrants Issued On Outstanding Note Amount
PercentageOfWarrantsIssuedOnOutstandingNoteAmount
|
0.25 | pure |
CY2015Q3 | ck0001680048 |
Class Of Warrants Or Rights Issued Warrants Term
ClassOfWarrantsOrRightsIssuedWarrantsTerm
|
P10Y | |
CY2016Q3 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0 | pure |
us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0 | pure | |
CY2016Q3 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P10Y | |
us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P9Y9M18D | ||
CY2016Q3 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.7670 | pure |
us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.7670 | pure | |
CY2016Q3 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-2000 | USD |
CY2015Q4 | ck0001680048 |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstanding
|
0 | shares |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
670191 | shares | |
CY2016Q3 | ck0001680048 |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstanding
|
670191 | shares |
CY2015Q4 | ck0001680048 |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instrument Other Than Options Outstanding Weighted Average Exercise Price
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentOtherThanOptionsOutstandingWeightedAverageExercisePrice
|
0 | |
CY2016Q3 | ck0001680048 |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instrument Other Than Options Outstanding Weighted Average Exercise Price
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentOtherThanOptionsOutstandingWeightedAverageExercisePrice
|
8.50 | |
CY2016Q3 | ck0001680048 |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instrument Other Than Options Granted Weighted Average Exercise Price
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentOtherThanOptionsGrantedWeightedAverageExercisePrice
|
8.50 | |
CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
|
P0Y | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
|
P5Y | ||
ck0001680048 |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Granted In Period Weighted Average Remaining Contractual Terms
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedInPeriodWeightedAverageRemainingContractualTerms
|
P5Y | ||
CY2016Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2016Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2016Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
2000000 | shares |
us-gaap |
Payments For Underwriting Expense
PaymentsForUnderwritingExpense
|
1400000 | USD | |
CY2016Q2 | ck0001680048 |
Founders Agreement Term
FoundersAgreementTerm
|
P15Y | |
CY2016Q2 | ck0001680048 |
Additional Consideration Under Founders Agreement Description
AdditionalConsiderationUnderFoundersAgreementDescription
|
(i) pay an equity fee in shares of common stock, payable within five business days of the closing of any equity or debt financing for Mustang or any of its respective subsidiaries that occurs after the effective date of the Mustang Founders Agreement and ending on the date when Fortress no longer has majority voting control in the Company’s voting equity, equal to 2.5% of the gross amount of any such equity or debt financing; and (ii) pay a cash fee equal to 4.5% of the Company’s annual net sales, payable on an annual basis, within ninety days of the end of each calendar year. In the event of a Change in Control, the Company will pay a one-time change in control fee equal to five times the product of (A) net sales for the twelve months immediately preceding the change in control and (B) 4.5%. | |
ck0001680048 |
Proceeds From Issuance Of Notes Payble Discount
ProceedsFromIssuanceOfNotesPaybleDiscount
|
-129000 | USD | |
ck0001680048 |
Proceeds From Notes Payable Gross
ProceedsFromNotesPayableGross
|
3600000 | USD | |
ck0001680048 |
Proceeds From Notes Payable Gross
ProceedsFromNotesPayableGross
|
0 | USD | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
3471000 | USD |