$OGEN
ORAGENICS INC

2013 Q4 Form 10-Q Financial Statement

#000119312513410690 Filed on October 25, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $434.8K $253.4K $264.2K
YoY Change 0.98% -4.12% -24.5%
Cost Of Revenue $80.00K $113.4K $164.1K
YoY Change -80.0% -30.89% 26.2%
Gross Profit $360.0K $140.0K $100.2K
YoY Change 1100.0% 39.73% -54.46%
Gross Profit Margin 82.8% 55.25% 37.91%
Selling, General & Admin $2.360M $2.558M $1.597M
YoY Change 84.38% 60.23% 17.39%
% of Gross Profit 655.56% 1827.42% 1593.54%
Research & Development $1.070M $6.907M $600.2K
YoY Change 46.58% 1050.81% 7.18%
% of Gross Profit 297.22% 4934.1% 599.08%
Depreciation & Amortization $20.00K $20.00K $20.00K
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit 5.56% 14.29% 19.96%
Operating Expenses $3.429M $9.465M $2.197M
YoY Change 70.18% 330.88% 13.82%
Operating Profit -$3.069M -$9.325M -$2.097M
YoY Change 54.61% 344.8% 22.61%
Interest Expense -$10.00K $1.546K $456.2K
YoY Change -200.0% -99.66% -556.24%
% of Operating Profit
Other Income/Expense, Net $0.00 $41.00 -$459.4K
YoY Change -100.0% -100.01%
Pretax Income -$3.080M -$9.325M -$2.556M
YoY Change 54.77% 264.85% 41.21%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$3.079M -$9.325M -$2.556M
YoY Change 54.83% 264.85% 41.21%
Net Earnings / Revenue -708.24% -3680.5% -967.25%
Basic Earnings Per Share
Diluted Earnings Per Share -$944.8K -$3.393M -$1.076M
COMMON SHARES
Basic Shares Outstanding 30.51M shares 27.51M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.28M $8.270M $11.76M
YoY Change 63.95% -29.68%
Cash & Equivalents $16.28M $8.268M $11.76M
Short-Term Investments
Other Short-Term Assets $180.0K $230.0K $380.0K
YoY Change -35.71% -39.47% -30.91%
Inventory $288.4K $223.3K $280.0K
Prepaid Expenses
Receivables $64.43K $58.88K $70.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $16.80M $8.777M $12.49M
YoY Change 61.53% -29.73% 1078.3%
LONG-TERM ASSETS
Property, Plant & Equipment $26.91K $38.20K $90.00K
YoY Change -68.18% -57.56% -47.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $26.91K $38.20K $90.00K
YoY Change -68.18% -57.56% -47.06%
TOTAL ASSETS
Total Short-Term Assets $16.80M $8.777M $12.49M
Total Long-Term Assets $26.91K $38.20K $90.00K
Total Assets $16.83M $8.815M $12.58M
YoY Change 60.48% -29.93% 922.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $910.0K $2.360M $1.400M
YoY Change -21.55% 68.57% -9.09%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $60.00K $2.060M $90.00K
YoY Change 20.0% 2188.89% -10.0%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $992.8K $4.453M $1.750M
YoY Change -20.98% 154.45% -77.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $992.8K $4.453M $1.750M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $990.0K $4.450M $1.750M
YoY Change -21.43% 154.29% -77.59%
SHAREHOLDERS EQUITY
Retained Earnings -$70.16M -$67.08M
YoY Change 29.71%
Common Stock $85.99M $30.17K
YoY Change 313940.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.84M $4.362M $10.83M
YoY Change
Total Liabilities & Shareholders Equity $16.83M $8.815M $12.58M
YoY Change 60.48% -29.93% 922.76%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$3.079M -$9.325M -$2.556M
YoY Change 54.83% 264.85% 41.21%
Depreciation, Depletion And Amortization $20.00K $20.00K $20.00K
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities -$1.210M -$1.970M -$1.180M
YoY Change -30.46% 66.95% -22.37%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$10.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$10.00K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $13.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.230M 3.870M 11.81M
YoY Change -11637.5% -67.23% 676.97%
NET CHANGE
Cash From Operating Activities -1.210M -1.970M -1.180M
Cash From Investing Activities 0.000 -10.00K
Cash From Financing Activities 9.230M 3.870M 11.81M
Net Change In Cash 8.020M 1.890M 10.63M
YoY Change -538.25% -82.22% 1141387558912000000.0%
FREE CASH FLOW
Cash From Operating Activities -$1.210M -$1.970M -$1.180M
Capital Expenditures $0.00 -$10.00K
Free Cash Flow -$1.210M -$1.960M
YoY Change -30.06%

Facts In Submission

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dei Entity Registrant Name
EntityRegistrantName
ORAGENICS INC
dei Amendment Flag
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dei Entity Filer Category
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dei Document Fiscal Year Focus
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dei Document Type
DocumentType
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dei Document Period End Date
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dei Entity Central Index Key
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dei Current Fiscal Year End Date
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<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b>Concentrations</b></p> <p style="MARGIN-TOP: 6pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> 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 nine months ended September&#xA0;30, 2013 and 2012. The majority of the Company&#x2019;s cost of sales are from these key suppliers during the three and nine months ended September&#xA0;30, 2013 and 2012. Accounts payable and accrued expenses for these vendors totaled approximately $-0- and $99,000 as of September&#xA0;30, 2013 and December&#xA0;31, 2012, respectively. As of September&#xA0;30, 2013, the Company had a prepaid balance of approximately $27,000 with one of these vendors.</p> </div>
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<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b>Use of Estimates</b></p> <p style="MARGIN-TOP: 6pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> 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.</p> </div>
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<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b>Guaranteed Rights of Return</b></p> <p style="MARGIN-TOP: 6pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> The Company has granted guaranteed rights of return to two dental distributors. The Company defers recognition of revenue on these accounts until either the distributor provides notification to the Company that the product has been sold to the end consumer or the guaranteed right of return period expires. Once notification has been received and verified, the Company records revenue in that accounting period. The Company had $23,711 and $27,812 of revenue deferred under guaranteed rights of return arrangements included in deferred revenue in the balance sheets as of September&#xA0;30, 2013 and December&#xA0;31, 2012, respectively.</p> </div>
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CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2012Q3 us-gaap Revenues
Revenues
264248
CY2012Q3 us-gaap Gross Profit
GrossProfit
100189
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2555941
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
5645
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-2096573
CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-459368
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-2555941
CY2012Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
164059
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
799391
CY2012Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
8776
CY2012Q3 us-gaap Interest Expense
InterestExpense
456237
CY2012Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
600208
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
2196762
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1596554
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2012Q3 ogen Number Of Key Suppliers
NumberOfKeySuppliers
4 Supplier
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27515372 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.00
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.34
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2013Q3 us-gaap Revenues
Revenues
253374
CY2013Q3 us-gaap Gross Profit
GrossProfit
139990
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9325424
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
3611
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-9325465
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
41
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-9325424
CY2013Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
113384
CY2013Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1538343
CY2013Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2024
CY2013Q3 us-gaap Interest Expense
InterestExpense
1546
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6907250
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
9465455
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2558205
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2013Q3 ogen Number Of Key Suppliers
NumberOfKeySuppliers
4 Supplier

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