2015 Q2 Form 10-Q Financial Statement

#000114420415047830 Filed on August 10, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $391.0K $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.810M $3.880M
YoY Change 152.84% 17.93%
% of Gross Profit
Research & Development $27.80M $21.55M
YoY Change 29.0% 157.06%
% of Gross Profit
Depreciation & Amortization $12.00K $10.00K
YoY Change 20.0% 0.0%
% of Gross Profit
Operating Expenses $27.80M $21.55M
YoY Change 29.0% 157.06%
Operating Profit -$38.85M -$25.43M
YoY Change 52.81% 122.97%
Interest Expense $1.636M $33.00K
YoY Change 4857.58% -82.63%
% of Operating Profit
Other Income/Expense, Net -$27.99M -$438.0K
YoY Change 6290.64%
Pretax Income -$66.85M -$25.87M
YoY Change 158.41% 123.21%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$66.85M -$25.87M
YoY Change 158.44% 123.09%
Net Earnings / Revenue -17095.91%
Basic Earnings Per Share -$0.88
Diluted Earnings Per Share -$0.88 -$450.4K
COMMON SHARES
Basic Shares Outstanding 76.89M shares 57.20M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.20M $8.850M
YoY Change 116.95% 344.72%
Cash & Equivalents $19.20M $8.853M
Short-Term Investments
Other Short-Term Assets $2.000M $3.590M
YoY Change -44.29% 897.22%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $21.20M $12.44M
YoY Change 70.37% 429.98%
LONG-TERM ASSETS
Property, Plant & Equipment $42.00M $77.00K
YoY Change 54444.16% -13.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.050M $55.00K
YoY Change 1809.09%
Total Long-Term Assets $43.05M $132.0K
YoY Change 32511.36% 48.31%
TOTAL ASSETS
Total Short-Term Assets $21.20M $12.44M
Total Long-Term Assets $43.05M $132.0K
Total Assets $64.25M $12.58M
YoY Change 410.89% 416.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.07M $9.543M
YoY Change 16.02% -37.66%
Accrued Expenses $1.188M $655.0K
YoY Change 81.37% -39.8%
Deferred Revenue
YoY Change
Short-Term Debt $930.0K $930.0K
YoY Change 0.0% 0.0%
Long-Term Debt Due $240.0K $240.0K
YoY Change 0.0% -82.09%
Total Short-Term Liabilities $116.5M $42.45M
YoY Change 174.56% 127.31%
LONG-TERM LIABILITIES
Long-Term Debt $23.72M $0.00
YoY Change
Other Long-Term Liabilities $149.0K
YoY Change
Total Long-Term Liabilities $23.87M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $116.5M $42.45M
Total Long-Term Liabilities $23.87M $0.00
Total Liabilities $140.4M $42.45M
YoY Change 230.79% 127.32%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $557.2M $427.2M
YoY Change 30.42% 34.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$76.17M -$29.87M
YoY Change
Total Liabilities & Shareholders Equity $64.25M $12.58M
YoY Change 410.88% 416.04%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$66.85M -$25.87M
YoY Change 158.44% 123.09%
Depreciation, Depletion And Amortization $12.00K $10.00K
YoY Change 20.0% 0.0%
Cash From Operating Activities -$27.10M -$16.94M
YoY Change 59.98% 106.33%
INVESTING ACTIVITIES
Capital Expenditures -$890.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 -$3.410M
YoY Change -100.0%
Cash From Investing Activities -$890.0K -$3.410M
YoY Change -73.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 43.20M 16.98M
YoY Change 154.42% 72.91%
NET CHANGE
Cash From Operating Activities -27.10M -16.94M
Cash From Investing Activities -890.0K -3.410M
Cash From Financing Activities 43.20M 16.98M
Net Change In Cash 15.21M -3.370M
YoY Change -551.34% -309.32%
FREE CASH FLOW
Cash From Operating Activities -$27.10M -$16.94M
Capital Expenditures -$890.0K
Free Cash Flow -$26.21M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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1172000 USD
CY2014Q4 us-gaap Notes Payable
NotesPayable
1172000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27213000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
29343000 shares
CY2015Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
888187 shares
CY2015Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
3700000 USD
CY2015Q1 nwbo Fair Value Of Warrants At Issuance Date
FairValueOfWarrantsAtIssuanceDate
500000 USD
CY2015Q1 nwbo Fair Value Of Common Stock Issued For Redemption Of Redeemable Securities
FairValueOfCommonStockIssuedForRedemptionOfRedeemableSecurities
300000 USD
CY2015Q1 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
80068 shares
CY2015Q1 nwbo Stock Issued During Period Shares Cashless Exercise Of Warrants
StockIssuedDuringPeriodSharesCashlessExerciseOfWarrants
385000 shares
CY2015Q2 nwbo Class Of Warrant Or Right Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightOutstandingWeightedAverageExercisePrice
4.76
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000 shares
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000 shares
CY2015Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
77727823 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
68957469 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
68957469 shares
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-66173000 USD
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-25865000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-112674000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-71906000 USD
nwbo Deposits And Other Assets Noncurrent
DepositsAndOtherAssetsNoncurrent
254000 USD
nwbo Deposits And Other Assets Noncurrent
DepositsAndOtherAssetsNoncurrent
0 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
62000 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt"> Reclassifications</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><b><font style="FONT-SIZE: 10pt"> &#160;</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; BACKGROUND: transparent; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">The Company reclassified debt issuance costs from other long-term assets to long-term debt, net on the condensed consolidated balance sheets for all periods presented pursuant to early adoption of Accounting Standards Update ("ASU") No. 2015-03 - <i>Simplifying the Presentation of Debt Issuance Costs.</i></font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt">Use of Estimates</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 31.9pt; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><i><font style="FONT-SIZE: 10pt"> &#160;</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">In preparing financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of expenses during the reporting period. Due to inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in these estimates. On an ongoing basis, the Company evaluates its estimates and assumptions. These estimates and assumptions include valuing equity securities in share-based payment arrangements, valuing environmental liabilities, estimating the fair value of equity instruments recorded as derivative liabilities, and estimating the useful lives of depreciable assets and whether impairment charges may apply.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
212000 USD
CY2015Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
50000 USD
CY2014Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
50000 USD
CY2015Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
7.40
CY2015Q2 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
5405405 shares
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
40000000 USD
CY2015Q2 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
4500000 USD
CY2015Q2 nwbo Stock Issued During Period Exercise Of Warrants
StockIssuedDuringPeriodExerciseOfWarrants
723422 shares
CY2015Q2 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
3100000 USD
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
42174000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
40159000 USD
us-gaap Depreciation
Depreciation
15000 USD
us-gaap Depreciation
Depreciation
6000 USD
CY2015Q2 us-gaap Contractual Interest Expense On Prepetition Liabilities Not Recognized In Statement Of Operations
ContractualInterestExpenseOnPrepetitionLiabilitiesNotRecognizedInStatementOfOperations
135000 USD
us-gaap Contractual Interest Expense On Prepetition Liabilities Not Recognized In Statement Of Operations
ContractualInterestExpenseOnPrepetitionLiabilitiesNotRecognizedInStatementOfOperations
351000 USD
CY2015Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
563000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
563000 USD
CY2015Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
1039000 USD
us-gaap Interest And Debt Expense
InterestAndDebtExpense
1360000 USD
CY2015Q2 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
107000 USD
CY2015Q2 nwbo Stock Issued During Period Shares Extinguishment Of Warrant Liabilities
StockIssuedDuringPeriodSharesExtinguishmentOfWarrantLiabilities
9200 shares
CY2015Q2 nwbo Stock Issued During Period Value Extinguishment Of Warrant Liabilities
StockIssuedDuringPeriodValueExtinguishmentOfWarrantLiabilities
60000 USD
CY2015Q2 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
701033 shares
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
51713000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21266000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
798000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
0 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5812000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-9646000 USD
nwbo Stock Issued During Period Value Conversion Of Accrued Interest
StockIssuedDuringPeriodValueConversionOfAccruedInterest
187000 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
4500000 USD
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
58000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
40000000 USD
us-gaap Proceeds From Mortgage Deposits
ProceedsFromMortgageDeposits
0 USD
us-gaap Proceeds From Mortgage Deposits
ProceedsFromMortgageDeposits
-3414000 USD
us-gaap Interest Paid
InterestPaid
-673000 USD
us-gaap Interest Paid
InterestPaid
0 USD
nwbo Reclassification Of Warrant Liabilities Related To Cashless Warrants Exercise
ReclassificationOfWarrantLiabilitiesRelatedToCashlessWarrantsExercise
521000 USD
nwbo Reclassification Of Warrant Liabilities Related To Cashless Warrants Exercise
ReclassificationOfWarrantLiabilitiesRelatedToCashlessWarrantsExercise
0 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
51000 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0 USD
nwbo Reclassification Of Warrant Liabilities Related To Warrants Exercised For Cash
ReclassificationOfWarrantLiabilitiesRelatedToWarrantsExercisedForCash
58000 USD
nwbo Reclassification Of Warrant Liabilities Related To Warrants Exercised For Cash
ReclassificationOfWarrantLiabilitiesRelatedToWarrantsExercisedForCash
0 USD
nwbo Issuance Of Common Stock For Debt Conversion
IssuanceOfCommonStockForDebtConversion
4500000 USD
nwbo Issuance Of Common Stock For Debt Conversion
IssuanceOfCommonStockForDebtConversion
0 USD
nwbo Issuance Of Common Stock For Conversion Of Accrued Interest
IssuanceOfCommonStockForConversionOfAccruedInterest
187000 USD
nwbo Issuance Of Common Stock For Conversion Of Accrued Interest
IssuanceOfCommonStockForConversionOfAccruedInterest
0 USD
nwbo Stock Issued During Period Value Proceeds From Warrants Exercises
StockIssuedDuringPeriodValueProceedsFromWarrantsExercises
6792000 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
3087000 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
6792000 USD
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0 USD
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
2059000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
40000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
nwbo Proceeds From Issuance Of Common Stock Over Allotment Rights
ProceedsFromIssuanceOfCommonStockOverAllotmentRights
0 USD
nwbo Proceeds From Issuance Of Common Stock Over Allotment Rights
ProceedsFromIssuanceOfCommonStockOverAllotmentRights
15000000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1105000 USD
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
15784000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
3389000 USD
nwbo Cash Payments
CashPayments
12400000 USD
CY2015Q2 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
234000 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
234000 USD

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