2015 Q2 Form 10-Q Financial Statement

#000114420415028495 Filed on May 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $14.00M $9.877M $7.462M
YoY Change 69.46% 32.36% 94.68%
Cost Of Revenue $2.700M $2.500M $3.021M
YoY Change -47.08% -17.25% 76.46%
Gross Profit $11.30M $7.377M $4.441M
YoY Change 257.81% 66.11% 109.38%
Gross Profit Margin 80.71% 74.69% 59.51%
Selling, General & Admin $7.100M $5.800M $4.300M
YoY Change 22.41% 34.88% 48.28%
% of Gross Profit 62.85% 78.62% 96.83%
Research & Development $27.73M $28.35M $14.52M
YoY Change 82.4% 95.25% 56.85%
% of Gross Profit 245.48% 384.26% 326.91%
Depreciation & Amortization $1.500M $1.300M $1.000M
YoY Change 50.0% 30.0% 150.0%
% of Gross Profit 13.28% 17.62% 22.52%
Operating Expenses $27.73M $28.35M $14.52M
YoY Change 82.4% 95.25% 56.85%
Operating Profit -$20.82M -$24.31M -$14.39M
YoY Change 16.64% 69.02% 43.78%
Interest Expense $26.00K $36.00K $52.00K
YoY Change -49.02% -30.77% 136.36%
% of Operating Profit
Other Income/Expense, Net $72.00K -$142.0K $0.00
YoY Change 300.0%
Pretax Income -$20.60M -$24.40M -$13.81M
YoY Change 15.32% 76.68% 38.39%
Income Tax
% Of Pretax Income
Net Earnings -$20.64M -$24.37M -$13.81M
YoY Change 15.55% 76.47% 38.16%
Net Earnings / Revenue -147.48% -246.73% -185.07%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.537M -$2.017M -$1.327M
COMMON SHARES
Basic Shares Outstanding 268.0M shares 239.4M shares 209.1M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $314.9M $327.7M $112.8M
YoY Change 106.49% 190.51% 154.63%
Cash & Equivalents $167.4M $215.1M $109.9M
Short-Term Investments $147.6M $112.7M $2.900M
Other Short-Term Assets $13.20M $11.50M $504.0K
YoY Change 4807.06% 2181.75% -43.12%
Inventory
Prepaid Expenses $4.626M
Receivables $2.342M $6.674M $4.466M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $333.0M $350.1M $128.9M
YoY Change 99.86% 171.66% 149.16%
LONG-TERM ASSETS
Property, Plant & Equipment $26.13M $23.97M $14.27M
YoY Change 72.8% 67.95% 22.84%
Goodwill $53.31M $52.66M $58.62M
YoY Change -7.94% -10.16% 76.88%
Intangibles $11.36M $11.20M $15.92M
YoY Change -24.72% -29.65%
Long-Term Investments
YoY Change
Other Assets $918.0K $918.0K $159.0K
YoY Change 477.36% 477.36% -54.57%
Total Long-Term Assets $91.72M $88.75M $89.73M
YoY Change -36.91% -1.09% 90.98%
TOTAL ASSETS
Total Short-Term Assets $333.0M $350.1M $128.9M
Total Long-Term Assets $91.72M $88.75M $89.73M
Total Assets $424.7M $438.8M $218.6M
YoY Change 36.13% 100.75% 121.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.117M $9.742M $4.018M
YoY Change 58.33% 142.46% 84.91%
Accrued Expenses $16.52M $15.59M $8.208M
YoY Change 50.23% 89.94% 40.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $500.0K $600.0K $1.000M
YoY Change -44.44% -40.0% 150.0%
Total Short-Term Liabilities $27.05M $28.78M $13.72M
YoY Change 54.77% 109.81% 48.22%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $300.0K $1.100M
YoY Change -88.89% -72.73% -26.67%
Other Long-Term Liabilities $73.00K $91.00K $1.562M
YoY Change -95.16% -94.17% -84.98%
Total Long-Term Liabilities $73.00K $91.00K $1.562M
YoY Change -95.16% -94.17% -86.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.05M $28.78M $13.72M
Total Long-Term Liabilities $73.00K $91.00K $1.562M
Total Liabilities $37.10M $39.14M $27.54M
YoY Change 22.59% 42.11% 30.29%
SHAREHOLDERS EQUITY
Retained Earnings -$538.1M -$517.5M -$424.0M
YoY Change 21.79% 22.06% 15.16%
Common Stock $2.691M $2.684M $2.097M
YoY Change 12.78% 27.99% 38.23%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.450M $2.450M $2.450M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 455.4K shares 455.4K shares
Shareholders Equity $387.6M $399.7M $191.1M
YoY Change
Total Liabilities & Shareholders Equity $424.7M $438.8M $218.6M
YoY Change 36.13% 100.75% 121.47%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$20.64M -$24.37M -$13.81M
YoY Change 15.55% 76.47% 38.16%
Depreciation, Depletion And Amortization $1.500M $1.300M $1.000M
YoY Change 50.0% 30.0% 150.0%
Cash From Operating Activities -$12.30M -$30.50M -$20.43M
YoY Change 11.82% 49.28% 93.05%
INVESTING ACTIVITIES
Capital Expenditures -$4.300M -$4.900M -$900.0K
YoY Change 377.78% 444.44% -40.0%
Acquisitions
YoY Change
Other Investing Activities -$35.10M $22.70M $10.60M
YoY Change -65.52% 114.15% -411.76%
Cash From Investing Activities -$39.40M $17.80M $9.701M
YoY Change -61.67% 83.49% -295.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $193.6M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.100M 195.5M $1.170M
YoY Change -96.19% 16609.4% -83.71%
NET CHANGE
Cash From Operating Activities -12.30M -30.50M -$20.43M
Cash From Investing Activities -39.40M 17.80M $9.701M
Cash From Financing Activities 4.100M 195.5M $1.170M
Net Change In Cash -47.60M 182.8M -$9.560M
YoY Change 680.33% -2012.13% 14.14%
FREE CASH FLOW
Cash From Operating Activities -$12.30M -$30.50M -$20.43M
Capital Expenditures -$4.300M -$4.900M -$900.0K
Free Cash Flow -$8.000M -$25.60M -$19.53M
YoY Change -20.79% 31.07% 115.03%

Facts In Submission

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CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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241223 shares
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
628000 USD
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.92
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0.0124 pure
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0119 pure
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0.0222 pure
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
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0.5247 pure
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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0.5358 pure
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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0.6793 pure
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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0.5389 pure
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y3M4D
CY2015Q1 nvax Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Forfeiture Rate
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.1633 pure
CY2014Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1040000 USD
CY2015Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1932000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
81400000 USD
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y7M6D
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1400000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3800000 USD
CY2015Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
12500000 USD
CY2015Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
45500000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
15000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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0 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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0 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
15000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.48
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
0
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.48
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
837000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
837000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
837000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
837000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
837000 USD
CY2015Q1 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-1948000 USD
CY2015Q1 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
112705000 USD
CY2014Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
135786000 USD
CY2014 us-gaap Available For Sale Securities Gross Unrealized Gains
AvailableForSaleSecuritiesGrossUnrealizedGains
8000 USD
CY2015Q1 us-gaap Available For Sale Securities Gross Unrealized Gains
AvailableForSaleSecuritiesGrossUnrealizedGains
6000 USD
CY2014 us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
73000 USD
CY2015Q1 us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
26000 USD
CY2015Q1 us-gaap Available For Sale Securities
AvailableForSaleSecurities
112685000 USD
CY2014Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
135721000 USD
CY2015Q1 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: 0in; MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif"> Note 1 &#150; Organization</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif"> &#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">Novavax, Inc. (&#8220;Novavax,&#8221; and together with its wholly owned subsidiary &#8220;Novavax AB,&#8221; the &#8220;Company&#8221;) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company&#8217;s product pipeline targets a variety of infectious diseases with vaccine candidates currently in clinical development for respiratory syncytial virus (&#8220;RSV&#8221;), seasonal influenza, pandemic influenza and Ebola virus (&#8220;EBOV&#8221;). The Company has additional preclinical stage programs in a variety of infectious diseases, including Middle East Respiratory Syndrome (&#8220;MERS&#8221;).</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2015Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
268381979 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
239287294 shares
CY2015Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
267926549 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
238831864 shares
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
455430 shares
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
455430 shares
CY2015Q1 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
112685000 USD
CY2014Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
135721000 USD
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11489000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9195000 USD
CY2015Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1704000 USD
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
70000 USD
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000 USD
CY2015Q1 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
9700000 USD
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
6500000 USD
CY2014Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 USD
CY2015Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
6798000 USD
CY2014Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-3000 USD
CY2015Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-146000 USD
CY2015Q1 nvax Available For Sale Securities Number Of Securities Owned
AvailableForSaleSecuritiesNumberOfSecuritiesOwned
35 shares
CY2015Q1 nvax Available For Sale Securities Number Of Securities Owned Unrealized Losses
AvailableForSaleSecuritiesNumberOfSecuritiesOwnedUnrealizedLosses
29 shares
CY2015Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
800000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
800000 USD
CY2015Q1 dei Document Type
DocumentType
10-Q
CY2015Q1 dei Amendment Flag
AmendmentFlag
false
CY2015Q1 dei Document Period End Date
DocumentPeriodEndDate
2015-03-31
CY2015Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2015Q1 dei Entity Registrant Name
EntityRegistrantName
NOVAVAX INC
CY2015Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001000694
CY2015Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2015Q1 dei Trading Symbol
TradingSymbol
NVAX
CY2015Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
268029873 shares
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
11600000 USD

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