2015 Q2 Form 10-Q Financial Statement

#000114420415031364 Filed on May 15, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.050M $600.0K $610.0K
YoY Change -33.96% -1.64% -26.51%
% of Gross Profit
Research & Development $1.390M $546.5K $625.7K
YoY Change -36.82% -12.67% -53.96%
% of Gross Profit
Depreciation & Amortization $140.0K $51.33K $50.00K
YoY Change 180.0% 2.66% -16.67%
% of Gross Profit
Operating Expenses $2.440M $1.123M $1.233M
YoY Change -35.62% -8.98% -43.7%
Operating Profit -$1.123M -$1.233M
YoY Change -8.98% -43.7%
Interest Expense $1.830M $1.920M $2.726M
YoY Change -230.71% -29.55% 231.48%
% of Operating Profit
Other Income/Expense, Net -$310.0K $871.6K $2.557M
YoY Change 106.67% -65.92% -271.39%
Pretax Income -$920.0K -$251.0K $1.324M
YoY Change -82.77% -118.96% -135.95%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$920.0K -$251.0K $1.324M
YoY Change -82.77% -118.96% -135.95%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.02
Diluted Earnings Per Share -$321.7K -$0.02 -$0.02
COMMON SHARES
Basic Shares Outstanding 57.15M shares 56.94M shares 53.32M shares
Diluted Shares Outstanding 59.61M shares 55.03M shares

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.47M $33.92M $33.27M
YoY Change -14.25% 1.95% 115.2%
Cash & Equivalents $31.47M $33.92M $33.27M
Short-Term Investments
Other Short-Term Assets $0.00 $0.00 $1.340M
YoY Change -100.0% -100.0% -12.99%
Inventory
Prepaid Expenses $214.4K $308.6K $1.339M
Receivables
Other Receivables
Total Short-Term Assets $31.68M $34.29M $34.60M
YoY Change -14.27% -0.9% 103.55%
LONG-TERM ASSETS
Property, Plant & Equipment $11.96M $10.91M $3.935M
YoY Change 117.63% 177.16% 755.48%
Goodwill
YoY Change
Intangibles $399.7K $401.8K $410.5K
YoY Change -2.09% -2.11%
Long-Term Investments
YoY Change
Other Assets $140.0K $0.00 $2.000M
YoY Change -86.0% -100.0%
Total Long-Term Assets $12.50M $11.31M $6.346M
YoY Change 81.1% 78.21% 621.1%
TOTAL ASSETS
Total Short-Term Assets $31.68M $34.29M $34.60M
Total Long-Term Assets $12.50M $11.31M $6.346M
Total Assets $44.19M $45.60M $40.95M
YoY Change 0.75% 11.36% 129.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $410.0K $20.00K $1.000M
YoY Change -4.65% -98.0% 14.94%
Accrued Expenses $28.52K $125.1K $207.1K
YoY Change -68.95% -39.62% 38.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $600.9K $523.4K $1.208M
YoY Change 16.06% -56.67% -72.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $3.887M
YoY Change -100.0% -100.0% 16.39%
Other Long-Term Liabilities $4.620M $6.350M $3.820M
YoY Change -57.77% 66.23%
Total Long-Term Liabilities $11.80M $13.22M $11.79M
YoY Change -40.92% 12.07% 253.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $600.9K $523.4K $1.208M
Total Long-Term Liabilities $11.80M $13.22M $11.79M
Total Liabilities $12.40M $13.74M $13.00M
YoY Change -39.48% 5.68% 67.78%
SHAREHOLDERS EQUITY
Retained Earnings -$54.10M -$53.18M -$44.90M
YoY Change 4.24% 18.44%
Common Stock $57.24K $57.15K $54.54K
YoY Change 4.8% 4.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.79M $31.86M $27.95M
YoY Change
Total Liabilities & Shareholders Equity $44.19M $45.60M $40.95M
YoY Change 0.75% 11.36% 129.03%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$920.0K -$251.0K $1.324M
YoY Change -82.77% -118.96% -135.95%
Depreciation, Depletion And Amortization $140.0K $51.33K $50.00K
YoY Change 180.0% 2.66% -16.67%
Cash From Operating Activities -$1.250M -$2.090M -$1.860M
YoY Change 31.58% 12.37% 8.77%
INVESTING ACTIVITIES
Capital Expenditures -$1.200M -$250.0K -$1.260M
YoY Change -25.47% -80.16%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.000M $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$1.200M $750.0K -$1.260M
YoY Change 96.72% -159.52% 26.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 19.44M
YoY Change -100.0% -100.0% 353.15%
NET CHANGE
Cash From Operating Activities -1.250M -2.090M -1.860M
Cash From Investing Activities -1.200M 750.0K -1.260M
Cash From Financing Activities 0.000 0.000 19.44M
Net Change In Cash -2.450M -1.340M 16.32M
YoY Change -171.22% -108.21% 932.91%
FREE CASH FLOW
Cash From Operating Activities -$1.250M -$2.090M -$1.860M
Capital Expenditures -$1.200M -$250.0K -$1.260M
Free Cash Flow -$50.00K -$1.840M -$600.0K
YoY Change -107.58% 206.67% -64.91%

Facts In Submission

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<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: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Note 1 - Organization and Nature of Business</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">NanoViricides, Inc. (the &#8220;Company) was incorporated under the laws of the State of Colorado on July 25, 2000 as Edot-com.com, Inc<b>.</b> which was organized for the purpose of conducting internet retail sales.&#160;&#160;On April 1, 2005, Edot-com.com, Inc. was incorporated under the laws of the State of Nevada for the purpose of re-domiciling as a Nevada corporation.&#160;&#160;On <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">May 12, 2005</font>, the corporations were merged and Edot-com.com, Inc<b>.,</b> the Nevada corporation, became the surviving entity.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">On June 1, 2005, Edot-com.com, Inc. (&#8220;ECMM&#8221;) acquired Nanoviricide, Inc., a privately owned Florida corporation (&#8220;NVI&#8221;), pursuant to an Agreement and Plan of Share Exchange (the &#8220;Exchange&#8221;).&#160;&#160;Nanoviricide, Inc. was incorporated under the laws of the State of Florida on May 12, 2005.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Pursuant to the terms of the Exchange, ECMM acquired NVI in exchange for an aggregate of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 80,000,000</font> newly issued shares of ECMM common stock resulting in an aggregate of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 100,000,000</font></font> shares of ECMM common stock issued and outstanding.&#160;&#160;NVI then became a wholly-owned subsidiary of ECMM. The ECMM shares were issued to the NVI shareholders on a pro rata basis, on the basis of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 4,000</font> shares of the Company&#8217;s common stock for each share of NVI common stock held by such NVI shareholder at the time of the Exchange.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">As a result of the Exchange transaction, the former NVI stockholders held approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 80</font>% of the voting capital stock of the Company immediately after the Exchange.&#160;&#160;For financial accounting purposes, this acquisition was a reverse acquisition of ECCM by NVI, under the purchase method of accounting, and was treated as a recapitalization with NVI as the acquirer. Accordingly, the financial statements have been prepared to give retroactive effect to May 12, 2005 (date of inception), of the reverse acquisition completed on June 1, 2005, and represent the operations of NVI.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">On June 28, 2005, NVI was merged into its parent ECMM and the separate corporate existence of NVI ceased.&#160;&#160;Effective on the same date, Edot-com.com, Inc. changed its name&#160;to NanoViricides, Inc. and its stock symbol to &#8220;NNVC&#8221;, respectively.&#160;&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">NanoViricides,&#160;&#160;Inc. (the &#8220;Company&#8221;), is a nano-biopharmaceutical company whose business goals are to discover, develop and commercialize therapeutics to advance the care of patients suffering from life-threatening viral infections. We are a company with several drugs in various stages of early development. Our drugs are based on several patents, patent applications, provisional patent applications, and other proprietary intellectual property held by TheraCour Pharma, Inc. (&#8220;TheraCour&#8221;), an entity owned and controlled by a significant stockholder, to which we have the necessary exclusive, worldwide licenses in perpetuity. The first agreement we executed with TheraCour Pharma on&#160;&#160;September 1, 2005, gave us an exclusive, worldwide license for the treatment of the following human viral diseases: Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Herpes Simplex Virus (HSV), Influenza and Asian Bird Flu Virus.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">On February 15, 2010, the Company executed an Additional License Agreement with TheraCour.&#160;&#160;Pursuant to the Additional License Agreement, the Company was granted exclusive, worldwide licenses, in perpetuity, for technologies, developed by TheraCour, for the development of drug candidates for the treatment of Dengue viruses, Ebola/Marburg viruses, Japanese Encephalitis, viruses causing viral Conjunctivitis (a disease of the eye) and Ocular Herpes.&#160;&#160;As consideration for obtaining these exclusive licenses, we agreed to pay a onetime licensing fee equal to 2,000,000 shares <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">(adjusted for the 3.5 to 1 reverse split)</font> of the Company&#8217;s Series A Convertible Preferred Stock (the &#8220;Series A Preferred Stock&#8221;).&#160;&#160;The Series A Preferred Stock is convertible, only upon sale or merger of the Company, or the sale of or license of substantially all of the Company&#8217;s intellectual property, into shares of the Company&#8217;s common stock at the rate of 3.5 shares of common stock for each share of Series A Preferred Stock.&#160;&#160;The Series A Preferred Stock has a preferred voting preference at the rate of nine votes per share. 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dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Colorado
us-gaap Business Acquisition Name Of Acquired Entity
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Edot-com.com, Inc.
us-gaap Business Acquisition Date Of Acquisition Agreement1
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2005-05-12
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invest Investment Warrants Exercise Price
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nnvc Number Of Common Stock To Be Issued Upon Conversion Of Warrants
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us-gaap Interest Expense
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us-gaap Interest Expense
InterestExpense
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CY2014Q2 us-gaap Leasehold Improvements Gross
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CY2014Q2 nnvc Office Equipment Gross
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30048 USD
CY2015Q1 us-gaap Furniture And Fixtures Gross
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CY2014Q2 us-gaap Furniture And Fixtures Gross
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1400 USD
CY2015Q1 nnvc Lab Equipment Gross
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CY2014Q2 nnvc Lab Equipment Gross
LabEquipmentGross
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9405780 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6495242 shares
nnvc Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageRemainingContractualTerm
P0Y
CY2015Q1 us-gaap Other Assets Current
OtherAssetsCurrent
0 USD
CY2014Q2 us-gaap Other Assets Current
OtherAssetsCurrent
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
nnvc Discount On Longterm Convertible Debentures
DiscountOnLongtermConvertibleDebentures
419305 USD
nnvc Discount On Longterm Convertible Debentures
DiscountOnLongtermConvertibleDebentures
860454 USD
us-gaap Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
charge its costs (direct and indirect) plus no more than 30% of direct costs
nnvc Lab Supplies And Chemicals Fees
LabSuppliesAndChemicalsFees
25000 USD
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
2000 USD
CY2015Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
9000000 USD
CY2014Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
4000000 USD
us-gaap Fair Value Measurements Significant Assumptions
FairValueMeasurementsSignificantAssumptions
a. The common stock price (post-reverse split) was in the range $2.72 to $2.29; b. The calculated weighted average number of shares of common stock in the period; c. A 5.36% premium over the common shares for the voting preferences; d. The calculated weighted average number of total voting shares and the monthly shares representing voting rights of 4.896% to 5.046% of the total; e. The conversion value is based on an assumption for calculation purposes only of a Change of Control in 4 years from March 1, 2013 and a remaining restricted term of 2.08 to 1.92 years; f. 32.61% to 31.42% restricted stock discount (based on a restricted stock analysis and call-put analysis curve: 78.63% to 69.38% volatility, 0.674% to 0.47% risk free rate) applied to the converted common.
CY2014Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
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CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2014Q1 us-gaap Liabilities
Liabilities
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CY2014Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
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CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2014Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Debt Conversion Converted Instrument Amount1
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CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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-6601163 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2014Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2015Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
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-0.02
us-gaap Income Loss From Continuing Operations Per Diluted Share
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-0.13
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.07
CY2014Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
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0.02
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
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-0.00
us-gaap Income Loss From Continuing Operations Per Basic Share
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-0.13
us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2015Q1 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
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us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
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0 USD
us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
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CY2014Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2015Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
2666667 shares
CY2015Q1 us-gaap Interest Payable Current
InterestPayableCurrent
375000 USD
CY2014Q2 us-gaap Interest Payable Current
InterestPayableCurrent
0 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i><u>Reclassifications</u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Certain accounts in the June 30, 2014 financial statements have been reclassified to conform to the current period presentation.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">For a summary of significant accounting policies, see the Company&#8217;s Annual Report on Form 10-K/A for the fiscal year ended June 30, 2014 filed on February 23, 2015.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q1 nnvc Prepaid Expenses Related Parties
PrepaidExpensesRelatedParties
66100 USD
CY2014Q2 nnvc Prepaid Expenses Related Parties
PrepaidExpensesRelatedParties
0 USD
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
1000000 USD
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
-1000000 USD
nnvc Series Preferred Shares Issued For Debenture Interest
SeriesPreferredSharesIssuedForDebentureInterest
1152297 USD
nnvc Bifurccation Of Embedded Derivative
BifurccationOfEmbeddedDerivative
0 USD
nnvc Bifurccation Of Embedded Derivative
BifurccationOfEmbeddedDerivative
1879428 USD
nnvc Issuance Of Series C Debenture For Deposit Received
IssuanceOfSeriesCDebentureForDepositReceived
0 USD
nnvc Issuance Of Series C Debenture For Deposit Received
IssuanceOfSeriesCDebentureForDepositReceived
5000000 USD
nnvc Series Preferred Shares Issued During Period Employee Stock Compensation Value Issued For July
SeriesPreferredSharesIssuedDuringPeriodEmployeeStockCompensationValueIssuedForJuly
181363 USD
nnvc Stock Issued During July Value Issued For Share Based Compensation Consulting And Legal Service One
StockIssuedDuringJulyValueIssuedForShareBasedCompensationConsultingAndLegalServiceOne
82360 USD
nnvc Stock Issued During Shares Issued For Share Based Compensation Consulting And Legal Services For August
StockIssuedDuringSharesIssuedForShareBasedCompensationConsultingAndLegalServicesForAugust
52130 USD
nnvc Common Stock Issued During Exercise Of Warrants Value Issues One
CommonStockIssuedDuringExerciseOfWarrantsValueIssuesOne
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nnvc Common Stock Shares Issued For Payment Of Debenture Interest Value
CommonStockSharesIssuedForPaymentOfDebentureInterestValue
1502869 USD
nnvc Series Preferred Shares Value Issued For Consulting And Legal Services Rendered
SeriesPreferredSharesValueIssuedForConsultingAndLegalServicesRendered
24474 USD
us-gaap Debt Instrument Redemption Description
DebtInstrumentRedemptionDescription
the Company, at its sole option, shall have the right, but not the obligation, to repurchase the Debenture at any time prior to the Maturity Date (the Redemption). If the Company intends to repurchase the Debenture, and if the closing bid price of the Common Stock is greater than $5.25 on the Redemption Date, unless the Holder, on or prior to the Redemption Date, elects to receive the Redemption Payment, as that term is defined herein, the Company shall pay to the Holder: (i) 952,381 shares of Common Stock in consideration of the exchange of the principal amount of the Debenture; and (ii) any and all accrued coupon interest. If on or prior to the Redemption Date, the Holder elects to receive the Redemption Payment, or the closing bid price of the Common Stock is less than $5.25, the Company shall issue to the Holder: (i) the principal amount of the Debenture; (ii) any accrued coupon interest; (iii) additional interest of 7% per annum for the period from the date of issuance of the Debenture to the Redemption Date; and (iv) warrants to purchase 619,048 shares of Common Stock which shall expire in three years from the date of issuance at an exercise price of $6.05 per share of Common Stock (the Redemption Warrants, and collectively with (i) (iii), the Redemption Payment). The Company shall use its best efforts to register the shares underlying the Redemption Warrants under a shelf registration statement, provided same is available to the Company, in accordance with the provisions of the Securities Act.
CY2014Q4 nnvc Acuisition And Renovation Expenses Of Manufacturing And Lab Facility
AcuisitionAndRenovationExpensesOfManufacturingAndLabFacility
4222549 USD
CY2014Q4 nnvc Closing Costs Of Facility
ClosingCostsOfFacility
81230 USD
CY2014Q3 nnvc Warrants Issued To Purchase Of Common Stock
WarrantsIssuedToPurchaseOfCommonStock
1926656 shares
CY2014Q3 nnvc Aggregate Purchase Price Of Warrants
AggregatePurchasePriceOfWarrants
6743297 USD
us-gaap Conversion Of Stock Description
ConversionOfStockDescription
the converted value to common at a ratio of 1:3.5.

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