$MEIP
MEI Pharma, Inc.

2014 Q1 Form 10-Q Financial Statement

#000119312514045724 Filed on February 11, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2012 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 $1.990M $1.950M $1.420M
YoY Change 61.79% 37.32% 57.78%
% of Gross Profit
Research & Development $5.415M $4.400M $1.338M
YoY Change 250.94% 228.85% 26.11%
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit
Operating Expenses $7.406M $6.349M $2.756M
YoY Change 167.56% 130.37% 40.83%
Operating Profit -$7.406M -$6.349M -$2.756M
YoY Change 167.56% 130.37% 40.83%
Interest Expense $20.00K $30.00K $0.00
YoY Change 0.0% -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$7.390M -$6.320M -$2.750M
YoY Change 168.73% 129.82% 78.57%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$7.387M -$6.324M -$2.754M
YoY Change 168.33% 129.63% 78.72%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$343.7K -$314.9K -$503.7K
COMMON SHARES
Basic Shares Outstanding 21.50M shares 21.49M shares 21.67M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.70M $59.80M $26.90M
YoY Change 126.03% 122.3% 438.0%
Cash & Equivalents $19.67M $39.76M $26.88M
Short-Term Investments $35.00M $20.00M
Other Short-Term Assets $900.0K $900.0K $200.0K
YoY Change 200.0% 350.0% 0.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $55.54M $60.66M $27.07M
YoY Change 127.36% 124.04% 420.65%
LONG-TERM ASSETS
Property, Plant & Equipment $61.00K $46.00K $22.00K
YoY Change 48.78% 109.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $505.0K $499.0K $510.0K
YoY Change -2.88% -2.16%
TOTAL ASSETS
Total Short-Term Assets $55.54M $60.66M $27.07M
Total Long-Term Assets $505.0K $499.0K $510.0K
Total Assets $56.04M $61.16M $27.58M
YoY Change 124.65% 121.7% 430.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $700.0K $809.0K $448.0K
YoY Change 32.58% 80.58% 12.0%
Accrued Expenses $2.818M $1.619M $1.349M
YoY Change 124.72% 20.01% 49.89%
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 $3.518M $2.428M $1.797M
YoY Change 97.42% 35.11% 38.23%
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 $3.518M $2.428M $1.797M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.500M $2.400M $1.800M
YoY Change 94.44% 33.33% 38.46%
SHAREHOLDERS EQUITY
Retained Earnings -$114.9M -$107.5M -$90.33M
YoY Change 23.44% 19.03%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $52.53M $58.73M $25.79M
YoY Change
Total Liabilities & Shareholders Equity $56.04M $61.16M $27.58M
YoY Change 124.65% 121.7% 430.46%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income -$7.387M -$6.324M -$2.754M
YoY Change 168.33% 129.63% 78.72%
Depreciation, Depletion And Amortization $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities -$5.070M -$4.470M -$2.160M
YoY Change 92.78% 106.94% 22.03%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K $0.00 $0.00
YoY Change -66.67%
Acquisitions
YoY Change
Other Investing Activities -$15.01M -$20.00M
YoY Change
Cash From Investing Activities -$15.02M -$20.00M $0.00
YoY Change 49966.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 32.73M 25.33M
YoY Change -100.0% 29.21% 1185.79%
NET CHANGE
Cash From Operating Activities -5.070M -4.470M -2.160M
Cash From Investing Activities -15.02M -20.00M 0.000
Cash From Financing Activities 0.000 32.73M 25.33M
Net Change In Cash -20.09M 8.260M 23.17M
YoY Change 638.6% -64.35% 11485.0%
FREE CASH FLOW
Cash From Operating Activities -$5.070M -$4.470M -$2.160M
Capital Expenditures -$10.00K $0.00 $0.00
Free Cash Flow -$5.060M -$4.470M -$2.160M
YoY Change 94.62% 106.94% 22.03%

Facts In Submission

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dei Trading Symbol
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dei Entity Registrant Name
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ClassOfWarrantOrRightExercisedInPeriod
1890304 shares
meip Common Stock Issued In Connection With Exercise Of Warrants
CommonStockIssuedInConnectionWithExerciseOfWarrants
1383959 shares
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-99514000
us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
500000 shares
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
94000
us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
1188000
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
2979000
us-gaap Profit Loss
ProfitLoss
-107517000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
20001000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
893000
us-gaap Gain Loss On Investments
GainLossOnInvestments
100000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
406000
us-gaap Operating Income Loss
OperatingIncomeLoss
-110858000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-508000
us-gaap Financial Services Costs
FinancialServicesCosts
406000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
31668000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
159371000
us-gaap Share Based Compensation
ShareBasedCompensation
6647000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
39762000
us-gaap Operating Expenses
OperatingExpenses
110858000
us-gaap License Costs
LicenseCosts
21500000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
809000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1619000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
159112000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
95000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-20095000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
57690000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
665000
CY2012Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5455444 shares
CY2012Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.50
CY2012Q4 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
2000
CY2012Q4 us-gaap Profit Loss
ProfitLoss
-2754000
CY2012Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-2756000
CY2012Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1418000
CY2012Q4 us-gaap Operating Expenses
OperatingExpenses
2756000
CY2012Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1338000
CY2013Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20067241 shares
CY2013Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.32
CY2013Q4 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
25000
CY2013Q4 us-gaap Profit Loss
ProfitLoss
-6324000
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-6349000
CY2013Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1949000
CY2013Q4 us-gaap Operating Expenses
OperatingExpenses
6349000
CY2013Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4400000

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