$OGEN
ORAGENICS INC

2013 Q3 Form 10-Q Financial Statement

#000119312513330095 Filed on August 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q2 2012 Q2
Revenue $253.4K $167.7K $256.4K
YoY Change -4.12% -34.61% -26.74%
Cost Of Revenue $113.4K $86.66K $112.3K
YoY Change -30.89% -22.81% -65.98%
Gross Profit $140.0K $81.01K $144.1K
YoY Change 39.73% -43.8% 620.75%
Gross Profit Margin 55.25% 48.32% 56.22%
Selling, General & Admin $2.558M $1.519M $835.5K
YoY Change 60.23% 81.85% -50.56%
% of Gross Profit 1827.42% 1875.44% 579.59%
Research & Development $6.907M $637.0K $6.177M
YoY Change 1050.81% -89.69% 880.54%
% of Gross Profit 4934.1% 786.27% 4285.41%
Depreciation & Amortization $20.00K $20.00K $20.00K
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit 14.29% 24.69% 13.87%
Operating Expenses $9.465M $2.156M $7.013M
YoY Change 330.88% -69.25% 202.28%
Operating Profit -$9.325M -$2.075M -$6.869M
YoY Change 344.8% -69.79% 198.64%
Interest Expense $1.546K $844.00 $60.11K
YoY Change -99.66% -98.6% -185.87%
% of Operating Profit
Other Income/Expense, Net $41.00 $1.233K -$60.07K
YoY Change -100.01% -102.05%
Pretax Income -$9.325M -$2.074M -$6.929M
YoY Change 264.85% -70.07% 192.35%
Income Tax
% Of Pretax Income
Net Earnings -$9.325M -$2.074M -$6.929M
YoY Change 264.85% -70.07% 192.35%
Net Earnings / Revenue -3680.5% -1236.99% -2702.26%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.393M -$752.7K -$5.172M
COMMON SHARES
Basic Shares Outstanding 27.51M shares 12.17M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.270M $6.370M $1.130M
YoY Change -29.68% 463.72%
Cash & Equivalents $8.268M $6.368M $1.130M
Short-Term Investments
Other Short-Term Assets $230.0K $300.0K $350.0K
YoY Change -39.47% -14.29% -37.5%
Inventory $223.3K $303.0K $350.0K
Prepaid Expenses
Receivables $58.88K $49.61K $40.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.777M $7.023M $1.870M
YoY Change -29.73% 275.54% 66.96%
LONG-TERM ASSETS
Property, Plant & Equipment $38.20K $48.86K $110.0K
YoY Change -57.56% -55.58% -42.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $38.20K $48.86K $110.0K
YoY Change -57.56% -55.58% -42.11%
TOTAL ASSETS
Total Short-Term Assets $8.777M $7.023M $1.870M
Total Long-Term Assets $38.20K $48.86K $110.0K
Total Assets $8.815M $7.071M $1.980M
YoY Change -29.93% 257.14% 51.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.360M $1.220M $1.250M
YoY Change 68.57% -2.4% -22.36%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.060M $140.0K $40.00K
YoY Change 2188.89% 250.0% -42.86%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $4.453M $1.388M $1.380M
YoY Change 154.45% 0.57% -22.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $2.060M
YoY Change -100.0% -54.22%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $2.060M
YoY Change -100.0% -54.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.453M $1.388M $1.380M
Total Long-Term Liabilities $0.00 $0.00 $2.060M
Total Liabilities $4.450M $1.390M $3.430M
YoY Change 154.29% -59.48% -45.47%
SHAREHOLDERS EQUITY
Retained Earnings -$67.08M -$57.75M
YoY Change
Common Stock $30.17K $27.51K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.362M $5.683M -$1.450M
YoY Change
Total Liabilities & Shareholders Equity $8.815M $7.071M $1.980M
YoY Change -29.93% 257.14% 51.15%

Cashflow Statement

Concept 2013 Q3 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$9.325M -$2.074M -$6.929M
YoY Change 264.85% -70.07% 192.35%
Depreciation, Depletion And Amortization $20.00K $20.00K $20.00K
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities -$1.970M -$2.000M -$1.150M
YoY Change 66.95% 73.91% -21.23%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$10.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$10.00K -$10.00K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.870M 20.00K 1.310M
YoY Change -67.23% -98.47% -6.43%
NET CHANGE
Cash From Operating Activities -1.970M -2.000M -1.150M
Cash From Investing Activities -10.00K -10.00K
Cash From Financing Activities 3.870M 20.00K 1.310M
Net Change In Cash 1.890M -1.990M 160.0K
YoY Change -82.22% -1343.75% -366.67%
FREE CASH FLOW
Cash From Operating Activities -$1.970M -$2.000M -$1.150M
Capital Expenditures -$10.00K -$10.00K
Free Cash Flow -$1.960M -$1.990M
YoY Change

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dei Entity Registrant Name
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ORAGENICS INC
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Concentrations</b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Company is dependent on key suppliers to provide probiotics, blending, warehousing and packaging of its EvoraPlus, EvoraKids, EvoraPro, and Teddy&#x2019;s Pride products. The Company had four key suppliers during the three and six months ended June&#xA0;30, 2013 and 2012. The majority of the Company&#x2019;s cost of sales are from these key suppliers during the three and six months ended June&#xA0;30, 2013 and 2012. Accounts payable and accrued expenses for these vendors totaled approximately $66,000 and $99,000 as of June&#xA0;30, 2013 and December&#xA0;31, 2012, respectively.</font></p> </div>
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with GAAP requires management 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. The principal areas of estimation reflected in the financial statements are stock based compensation, valuation of warrants, inventory obsolescence reserve, sales returns and allowances and the allowance for doubtful accounts.</font></p> </div>
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CY2012Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1165
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-6868699
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-6928771
CY2012Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-60072
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-6928771
CY2012Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
112258
CY2012Q2 us-gaap Share Based Compensation
ShareBasedCompensation
-3576
CY2012Q2 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1128
CY2012Q2 us-gaap Interest Expense
InterestExpense
60109
CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6177374
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
7012848
CY2012Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
835474
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2012Q2 orni Number Of Key Suppliers
NumberOfKeySuppliers
4 Supplier
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27502267 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.32
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.08
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
25000 shares
CY2013Q2 us-gaap Revenues
Revenues
167668
CY2013Q2 us-gaap Gross Profit
GrossProfit
81011
CY2013Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
5077
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-2075268
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2074035
CY2013Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1233
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-2074035
CY2013Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
86657
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
78207
CY2013Q2 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3000
CY2013Q2 us-gaap Interest Expense
InterestExpense
844
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
636969
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
2156279
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1519310
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2013Q2 orni Number Of Key Suppliers
NumberOfKeySuppliers
4 Supplier

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