2017 Q2 Form 10-K Financial Statement

#000114420417050412 Filed on September 28, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 2016 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $990.0K $4.069M $890.0K
YoY Change 11.24% 6.23% -15.24%
% of Gross Profit
Research & Development $1.260M $5.532M $1.600M
YoY Change -21.25% 10.0% 15.11%
% of Gross Profit
Depreciation & Amortization $160.0K $654.7K $160.0K
YoY Change 0.0% 0.52% 14.29%
% of Gross Profit
Operating Expenses $2.250M $9.601M $2.500M
YoY Change -10.0% 8.37% 2.46%
Operating Profit -$9.601M
YoY Change 8.37%
Interest Expense -$90.00K $780.8K $1.230M
YoY Change -107.32% -25.1% -32.79%
% of Operating Profit
Other Income/Expense, Net -$220.0K -$703.8K -$380.0K
YoY Change -42.11% -62.27% 22.58%
Pretax Income -$2.560M -$10.30M -$1.650M
YoY Change 55.15% -3.92% 79.35%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.560M -$10.30M -$1.650M
YoY Change 55.15% -3.92% 79.35%
Net Earnings / Revenue
Basic Earnings Per Share -$0.17
Diluted Earnings Per Share -$812.7K -$0.17 -$569.0K
COMMON SHARES
Basic Shares Outstanding 63.07M shares 60.10M shares
Diluted Shares Outstanding 60.10M shares

Balance Sheet

Concept 2017 Q2 2017 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.10M $15.10M $24.16M
YoY Change -37.5% -37.51% -23.23%
Cash & Equivalents $15.10M $15.10M $24.16M
Short-Term Investments
Other Short-Term Assets $190.0K $190.2K $220.0K
YoY Change -13.64% -13.35%
Inventory
Prepaid Expenses $190.2K $219.5K
Receivables
Other Receivables
Total Short-Term Assets $15.29M $15.29M $24.38M
YoY Change -37.29% -37.29% -23.04%
LONG-TERM ASSETS
Property, Plant & Equipment $11.27M $11.27M $11.76M
YoY Change -4.16% -4.16% -1.69%
Goodwill
YoY Change
Intangibles $383.2K $391.5K
YoY Change -2.11% -2.07%
Long-Term Investments
YoY Change
Other Assets $60.00K $58.93K $100.0K
YoY Change -40.0% -40.8% -28.57%
Total Long-Term Assets $11.71M $11.71M $12.25M
YoY Change -4.4% -4.4% -2.02%
TOTAL ASSETS
Total Short-Term Assets $15.29M $15.29M $24.38M
Total Long-Term Assets $11.71M $11.71M $12.25M
Total Assets $27.00M $27.00M $36.63M
YoY Change -26.29% -26.29% -17.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $480.0K $476.5K $860.0K
YoY Change -44.19% -44.85% 109.76%
Accrued Expenses $34.00K $34.00K $35.60K
YoY Change -4.49% -4.49% 24.85%
Deferred Revenue
YoY Change
Short-Term Debt $3.960M $3.956M $5.470M
YoY Change -27.61% -27.74%
Long-Term Debt Due $5.475M
YoY Change
Total Short-Term Liabilities $4.666M $4.666M $6.744M
YoY Change -30.82% -30.82% 1022.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $3.130M
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $2.020M $2.015M $3.710M
YoY Change -45.55% -45.64% -19.7%
Total Long-Term Liabilities $2.015M $2.015M $6.841M
YoY Change -70.54% -70.54% -42.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.666M $4.666M $6.744M
Total Long-Term Liabilities $2.015M $2.015M $6.841M
Total Liabilities $6.681M $6.681M $13.59M
YoY Change -50.82% -50.82% 9.55%
SHAREHOLDERS EQUITY
Retained Earnings -$75.13M -$64.82M
YoY Change 15.9% 19.82%
Common Stock $63.31K $58.18K
YoY Change 8.81% 1.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $20.32M $20.32M $23.05M
YoY Change
Total Liabilities & Shareholders Equity $27.00M $27.00M $36.63M
YoY Change -26.29% -26.29% -17.09%

Cashflow Statement

Concept 2017 Q2 2017 2016 Q2
OPERATING ACTIVITIES
Net Income -$2.560M -$10.30M -$1.650M
YoY Change 55.15% -3.92% 79.35%
Depreciation, Depletion And Amortization $160.0K $654.7K $160.0K
YoY Change 0.0% 0.52% 14.29%
Cash From Operating Activities -$1.010M -$7.898M -$1.380M
YoY Change -26.81% 15.65% 10.4%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K $165.0K -$60.00K
YoY Change -33.33% -65.37% -95.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities -$40.00K -$165.0K -$60.00K
YoY Change -33.33% -65.37% -95.0%
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 -1.000M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -1.010M -$7.898M -1.380M
Cash From Investing Activities -40.00K -165.0K -60.00K
Cash From Financing Activities 0.000 -1.000M 0.000
Net Change In Cash -1.050M -$7.898M -1.440M
YoY Change -27.08% 15.65% -41.22%
FREE CASH FLOW
Cash From Operating Activities -$1.010M -$7.898M -$1.380M
Capital Expenditures -$40.00K $165.0K -$60.00K
Free Cash Flow -$970.0K -$8.063M -$1.320M
YoY Change -26.52% 10.36% 2540.0%

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383198 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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8270 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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8270 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8270 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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8270 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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341848 USD
CY2014Q3 us-gaap Common Stock Shares Authorized
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3071986 shares
CY2014Q3 nnvc Warrants Issued To Purchase Of Common Stock
WarrantsIssuedToPurchaseOfCommonStock
1926656 shares
CY2014Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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3.50
CY2014Q3 nnvc Aggregate Purchase Price Of Warrants
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6743297 USD
CY2015 nnvc Number Of Common Stock To Be Issued Upon Conversion Of Warrants
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68592 shares
CY2015Q2 nnvc Fair Value Of Common Stock Warrant Issued During Period For Consulting Services
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59675 USD
CY2016Q1 nnvc Adjustments To Additional Paid In Capital Warrant Issued For Debenture Interest
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56115 USD
CY2013Q3 nnvc Warrants Issued
WarrantsIssued
2945428 shares
CY2014Q1 nnvc Warrants Issued
WarrantsIssued
2479935 shares
CY2013Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2810071 shares
CY2014Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2479935 shares
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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75000 shares
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0 pure
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0 pure
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CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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-0.0618 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.4628 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.71 pure
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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0 pure
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2016Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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20782598 USD
CY2016Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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5105024 USD
CY2016Q2 us-gaap Deferred Tax Assets Other
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8349142 USD
CY2016Q2 us-gaap Deferred Tax Assets Gross
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34326764 USD
CY2016Q2 us-gaap Deferred Tax Assets Valuation Allowance
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34326764 USD
CY2016Q2 us-gaap Deferred Tax Assets Net
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0 USD
CY2017Q2 us-gaap Deferred Tax Assets Gross
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40393660 USD
CY2017Q2 us-gaap Deferred Tax Assets Valuation Allowance
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40393660 USD
CY2017Q2 us-gaap Deferred Tax Assets Net
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0 USD
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23839852 USD
CY2017Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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6217612 USD
CY2017Q2 us-gaap Deferred Tax Assets Other
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10336196 USD
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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6066896 USD
CY2017Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
59000000 USD
CY2017 dei Document Type
DocumentType
10-K
CY2017 dei Amendment Flag
AmendmentFlag
false
CY2017 dei Document Period End Date
DocumentPeriodEndDate
2017-06-30
CY2017 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2017 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2017 dei Entity Registrant Name
EntityRegistrantName
NANOVIRICIDES, INC.
CY2017 dei Entity Central Index Key
EntityCentralIndexKey
0001379006
CY2017 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2017 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2017 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2017 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2017 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2016Q4 dei Entity Public Float
EntityPublicFloat
44591000 USD
CY2017 dei Trading Symbol
TradingSymbol
NNVC
CY2017Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
63307000 shares
CY2017Q2 us-gaap Commitments And Contingencies
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USD
CY2016Q2 us-gaap Commitments And Contingencies
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USD
CY2017 dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
 Colorado
CY2017 us-gaap Business Acquisition Name Of Acquired Entity
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 Edot-com.com, Inc
CY2017Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
58179699 shares
CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
58179699 shares
CY2017Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
63306774 shares
CY2017Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
63306774 shares
CY2017 nnvc Common Stock Issued Upon Exercise Of Stock Options
CommonStockIssuedUponExerciseOfStockOptions
0 USD
CY2016 nnvc Common Stock Issued Upon Exercise Of Stock Options
CommonStockIssuedUponExerciseOfStockOptions
313 USD
CY2015 nnvc Common Stock Issued Upon Exercise Of Stock Options
CommonStockIssuedUponExerciseOfStockOptions
0 USD
CY2017 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
0 USD
CY2016 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
332476 USD
CY2015 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
0 USD
CY2017 nnvc Bifurccation Of Embedded Derivative
BifurccationOfEmbeddedDerivative
0 USD
CY2016 nnvc Bifurccation Of Embedded Derivative
BifurccationOfEmbeddedDerivative
0 USD
CY2015 nnvc Bifurccation Of Embedded Derivative
BifurccationOfEmbeddedDerivative
1879428 USD
CY2017 nnvc Issuance Of Series C Debenture For Deposit Received
IssuanceOfSeriesCDebentureForDepositReceived
0 USD
CY2016 nnvc Issuance Of Series C Debenture For Deposit Received
IssuanceOfSeriesCDebentureForDepositReceived
0 USD
CY2015 nnvc Issuance Of Series C Debenture For Deposit Received
IssuanceOfSeriesCDebentureForDepositReceived
5000000 USD
CY2017 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;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"> <i><u>Use of Estimates</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"> &#160;</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 amounts reported in the financial statements and accompanying notes. The Company bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances. The amounts of assets and liabilities reported in the Company&#8217;s balance sheet and the amounts of expenses reported for each of the periods presented are affected by estimates and assumptions, which are used for, but not limited to, accounting for share-based compensation, accounting for derivatives and accounting for income taxes. 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>
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
23369303 USD
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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>Concentrations of Risk</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">Financial instruments that potentially subject us to a significant concentration of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured institutions in excess of federally insured limits. The Company does not believe it is exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015 nnvc Series Preferred Shares Issued For Debenture Interest
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1152297 USD
CY2015 nnvc Series Preferred Shares Issued During Period Employee Stock Compensation Value Issued
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852760 USD
CY2016 nnvc Series Preferred Shares Issued During Period Employee Stock Compensation Value Issued
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882386 USD
CY2017 nnvc Series Preferred Shares Issued During Period Employee Stock Compensation Value Issued
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1272110 USD
CY2017 nnvc Stock Issued During July Value Issued For Share Based Compensation Consulting And Legal Service One
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201313 USD
CY2016 nnvc Stock Issued During July Value Issued For Share Based Compensation Consulting And Legal Service One
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158000 USD
CY2015 nnvc Stock Issued During July Value Issued For Share Based Compensation Consulting And Legal Service One
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109360 USD
CY2015 nnvc Common Stock Issued During Period Employee Stock Compensation Value Issued
CommonStockIssuedDuringPeriodEmployeeStockCompensationValueIssued
125003 USD
CY2016 nnvc Common Stock Issued During Period Employee Stock Compensation Value Issued
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142589 USD
CY2017 nnvc Common Stock Issued During Period Employee Stock Compensation Value Issued
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82145 USD
CY2015 nnvc Common Shares Issued In Connection With Warrant Conversion
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6743297 USD
CY2015 nnvc Common Stock Shares Issued For Payment Of Debenture Interest Value
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1502870 USD
CY2015 nnvc Series Preferred Shares Value Issued For Consulting And Legal Services Rendered
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24474 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
31785867 USD
CY2017 nnvc Stock Issued For Payment Of Director Fees Value
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45000 USD
CY2016 nnvc Stock Issued For Payment Of Director Fees Value
StockIssuedForPaymentOfDirectorFeesValue
45000 USD
CY2017 nnvc Common Stock Shares Issued For Payment Of Debenture Interest Value
CommonStockSharesIssuedForPaymentOfDebentureInterestValue
607178 USD
CY2016 nnvc Common Stock Shares Issued For Payment Of Debenture Interest Value
CommonStockSharesIssuedForPaymentOfDebentureInterestValue
660000 USD
CY2015 nnvc Stock Issued For Payment Of Director Fees Value
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45000 USD
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
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0 USD
CY2017 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) (iv), 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.
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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8270 USD
CY2014Q4 nnvc Acquisition And Renovation Expenses Of Manufacturing And Lab Facility
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4222549 USD
CY2014Q4 nnvc Closing Costs Of Facility
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81230 USD
CY2016 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
332476 USD
CY2017 us-gaap Interest Expense
InterestExpense
780767 USD
CY2016 us-gaap Interest Expense
InterestExpense
1042470 USD
CY2015 us-gaap Interest Expense
InterestExpense
2649592 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
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-332524 USD
CY2016 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2015 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2016 nnvc Adjustments To Additional Paid In Capital Warrant Issued For Debenture Interest
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56115 USD
CY2017 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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5332524 USD
CY2017 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1000000 USD
CY2016 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 USD
CY2015 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 USD
CY2017 us-gaap Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
charge its costs (direct and indirect) plus no more than 30% of direct costs
CY2017 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
2000 USD
CY2016 nnvc Net Proceeds From Issuance Of Debt
NetProceedsFromIssuanceOfDebt
1968275 USD
CY2017 nnvc Net Proceeds From Issuance Of Debt
NetProceedsFromIssuanceOfDebt
1968275 USD
CY2017 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
5000000 USD
CY2017Q1 us-gaap Interest Payable Current
InterestPayableCurrent
27178 USD
CY2017Q1 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
24266 USD
CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.23
CY2017Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1000000 USD
CY2017Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
332524 USD
CY2017Q1 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
5332524 USD
CY2015 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
200508 shares
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
852760 USD
CY2016 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
507649 shares
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
2011207 USD
CY2015 us-gaap Fair Value Measurements Significant Assumptions
FairValueMeasurementsSignificantAssumptions
a. The common stock price was in the range $2.29 to $1.55; 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 1.92 to 1.67 years; f. 30.86% to 31.42% restricted stock discount (based on a restricted stock analysis and call-put analysis curve: 63.52% to 69.38% volatility, 0. 22% to 0.26% risk free rate) applied to the converted common.
CY2016 us-gaap Fair Value Measurements Significant Assumptions
FairValueMeasurementsSignificantAssumptions
a. The common stock price was in the range $1.82 to $1.20; 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 1.92 to 1.67 years; f. 30.86% to 31.42% restricted stock discount (based on a restricted stock analysis and call-put analysis curve: 63.52% to 69.38% volatility, 0.22% to 0.26% risk free rate) applied to the converted common.
CY2017 nnvc Preferred Stock Issued As Discount On Debenture
PreferredStockIssuedAsDiscountOnDebenture
0 USD
CY2016 nnvc Preferred Stock Issued As Discount On Debenture
PreferredStockIssuedAsDiscountOnDebenture
0 USD
CY2015 nnvc Preferred Stock Issued As Discount On Debenture
PreferredStockIssuedAsDiscountOnDebenture
1152297 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
313155 shares
CY2015 nnvc Stock Issued During Shares Issued For Share Based Compensation Consulting And Legal Services
StockIssuedDuringSharesIssuedForShareBasedCompensationConsultingAndLegalServices
59675 USD
CY2016 nnvc Stock Issued During Shares Issued For Share Based Compensation Consulting And Legal Services
StockIssuedDuringSharesIssuedForShareBasedCompensationConsultingAndLegalServices
42886 USD
CY2017 nnvc Stock Issued During Shares Issued For Share Based Compensation Consulting And Legal Services
StockIssuedDuringSharesIssuedForShareBasedCompensationConsultingAndLegalServices
37948 USD
CY2017 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
0 USD
CY2016 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-3515 USD
CY2015 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
150000 USD
CY2017 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-40612 USD
CY2016 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-46505 USD
CY2015 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
142531 USD
CY2017 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
39262 USD
CY2016 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
7007 USD
CY2015 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-286930 USD
CY2017 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-426759 USD
CY2016 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
451258 USD
CY2015 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
266741 USD
CY2017 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-1598 USD
CY2016 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
7087 USD
CY2015 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-63323 USD
CY2017 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-166667 USD
CY2016 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-166666 USD
CY2015 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
500000 USD
CY2017 us-gaap Nature Of Operations
NatureOfOperations
<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="center"></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"><b>Note 1 &#150; 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" 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, Inc. (the &#8220;Company&#8221;) was incorporated under the laws of the State of Colorado on <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> July 25, 2000</font> 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"> 100</font> million 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: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">NanoViricides, Inc. 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. NanoViricides is unique in the bio-pharma field in that it possesses its own state of the art facilities for the design, synthesis, analysis and characterization of the nanomedicines that we develop, as well as for production scale-up, and e-GMP-like production in quantities needed for human clinical trials. The biological studies such as the effectiveness, safety, bio-distribution and Pharmacokinetics/Pharmacodynamics on our drug candidates are performed by external collaborators and contract organizations.</font></div> &#160;&#160; <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">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;), to which we have the necessary exclusive licenses in perpetuity. The first agreement we executed with TheraCour on 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;CLEAR: both"> &#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 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 one-time licensing fee equal to 2,000,000 shares (adjusted for the 3.5 to 1 reverse split) 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 in the event of a &#8220;change of control&#8221; of the Company, as defined in the designation of Series A Preferred Stock (see Note 2 for further details), 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. The Series A Preferred Stock do not contain any rights to dividends, have no liquidation preference, and are not to be amended without the Holder&#8217;s approval. The <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,000,000</font> shares were valued at the par value of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,000</font>.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017 nnvc Common Stock Issued During Period Settlement Of Accounts Payable Shares
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71430 shares
CY2017 nnvc Common Stock Issued During Period Settlement Of Accounts Payable Value
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82145 USD
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CY2017 us-gaap Conversion Of Stock Description
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the converted value to common at a ratio of 1:3.5
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5000000 USD
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1.1533
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313785 shares
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158000 USD
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.4582 pure
CY2017 us-gaap Fair Value Measurements Significant Assumptions
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a.&#160;The common stock price was in the range $1.07 to $1.74; b. The calculated weighted average number of shares of common stock in the period; c. A 26.63% 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 10.25% to 12.26% of the total; e. The conversion value was based on an assumption for calculation purposes only, for the period ended September 30, 2016 of a Change of Control in 4 years from March 1, 2013 and a remaining restricted term of 1.92 to 1.67 years. For the period from October 1, 2016 to June 30, 2017, the conversion value was based on an assumption for calculation purposes only of a Change of Control in 4 years and a remaining restricted term of 4 to 3.34 years; f. 21.76% to 38.87% restricted stock discount (based on a restricted stock analysis and call-put analysis curve: 63.58% to 85.39% volatility, 0.37% to 1.50% risk free rate) applied to the converted common.
CY2017 us-gaap Prior Period Reclassification Adjustment Description
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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" 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><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>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 prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results or operations.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

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