2014 Q4 Form 10-Q Financial Statement

#000119312514394063 Filed on November 03, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $220.5K $201.0K $253.4K
YoY Change -49.28% -20.67% -4.12%
Cost Of Revenue $90.00K $73.71K $113.4K
YoY Change 12.5% -34.99% -30.89%
Gross Profit $130.0K $127.3K $140.0K
YoY Change -63.89% -9.07% 39.73%
Gross Profit Margin 58.96% 63.33% 55.25%
Selling, General & Admin $810.0K $565.1K $2.558M
YoY Change -65.68% -77.91% 60.23%
% of Gross Profit 623.08% 443.93% 1827.42%
Research & Development $550.0K $597.0K $6.907M
YoY Change -48.6% -91.36% 1050.81%
% of Gross Profit 423.08% 469.0% 4934.1%
Depreciation & Amortization $10.00K $10.00K $20.00K
YoY Change -50.0% -50.0% 0.0%
% of Gross Profit 7.69% 7.86% 14.29%
Operating Expenses $1.360M $1.162M $9.465M
YoY Change -60.33% -87.72% 330.88%
Operating Profit -$1.230M -$1.035M -$9.325M
YoY Change -59.91% -88.9% 344.8%
Interest Expense $10.00K $1.305K $1.546K
YoY Change -200.0% -15.59% -99.66%
% of Operating Profit
Other Income/Expense, Net $0.00 $5.305K $41.00
YoY Change 12839.02% -100.01%
Pretax Income -$1.220M -$1.030M -$9.325M
YoY Change -60.39% -88.96% 264.85%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.224M -$1.030M -$9.325M
YoY Change -60.27% -88.96% 264.85%
Net Earnings / Revenue -554.9% -512.19% -3680.5%
Basic Earnings Per Share
Diluted Earnings Per Share -$337.0K -$284.5K -$3.393M
COMMON SHARES
Basic Shares Outstanding 36.18M shares 36.18M shares 27.51M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.45M $11.76M $8.270M
YoY Change -35.81% 42.2% -29.68%
Cash & Equivalents $10.45M $11.76M $8.268M
Short-Term Investments
Other Short-Term Assets $120.0K $220.0K $230.0K
YoY Change -33.33% -4.35% -39.47%
Inventory $439.2K $263.9K $223.3K
Prepaid Expenses
Receivables $15.61K $26.31K $58.88K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.02M $12.28M $8.777M
YoY Change -34.4% 39.87% -29.73%
LONG-TERM ASSETS
Property, Plant & Equipment $109.3K $26.30K $38.20K
YoY Change 306.09% -31.16% -57.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $109.3K $26.30K $38.20K
YoY Change 306.09% -31.16% -57.56%
TOTAL ASSETS
Total Short-Term Assets $11.02M $12.28M $8.777M
Total Long-Term Assets $109.3K $26.30K $38.20K
Total Assets $11.13M $12.30M $8.815M
YoY Change -33.86% 39.56% -29.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $710.0K $600.0K $2.360M
YoY Change -21.98% -74.58% 68.57%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $60.00K $110.0K $2.060M
YoY Change 0.0% -94.66% 2188.89%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $796.3K $739.5K $4.453M
YoY Change -19.8% -83.39% 154.45%
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 $796.3K $739.5K $4.453M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $800.0K $740.0K $4.450M
YoY Change -19.19% -83.37% 154.29%
SHAREHOLDERS EQUITY
Retained Earnings -$75.94M -$74.72M -$67.08M
YoY Change 8.25% 11.4%
Common Stock $86.28M $86.28M $30.17K
YoY Change 0.33% 285904.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.34M $11.56M $4.362M
YoY Change
Total Liabilities & Shareholders Equity $11.13M $12.30M $8.815M
YoY Change -33.86% 39.56% -29.93%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income -$1.224M -$1.030M -$9.325M
YoY Change -60.27% -88.96% 264.85%
Depreciation, Depletion And Amortization $10.00K $10.00K $20.00K
YoY Change -50.0% -50.0% 0.0%
Cash From Operating Activities -$1.180M -$1.100M -$1.970M
YoY Change -2.48% -44.16% 66.95%
INVESTING ACTIVITIES
Capital Expenditures -$90.00K $0.00 -$10.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$90.00K $0.00 -$10.00K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.00K -30.00K 3.870M
YoY Change -100.54% -100.78% -67.23%
NET CHANGE
Cash From Operating Activities -1.180M -1.100M -1.970M
Cash From Investing Activities -90.00K 0.000 -10.00K
Cash From Financing Activities -50.00K -30.00K 3.870M
Net Change In Cash -1.320M -1.130M 1.890M
YoY Change -116.46% -159.79% -82.22%
FREE CASH FLOW
Cash From Operating Activities -$1.180M -$1.100M -$1.970M
Capital Expenditures -$90.00K $0.00 -$10.00K
Free Cash Flow -$1.090M -$1.100M -$1.960M
YoY Change -9.92% -43.88%

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us-gaap Revenue Recognition Deferred Revenue
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<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>Guaranteed Rights of Return</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> 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 $25,592 and $18,839 of revenue deferred under guaranteed rights of return arrangements included in deferred revenue in the balance sheets as of September&#xA0;30, 2014 and December&#xA0;31, 2013, respectively.</p> </div>
dei Document Type
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dei Entity Registrant Name
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ORAGENICS INC
dei Trading Symbol
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OGEN
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us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>Concentrations</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> 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, 2014 and 2013. 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, 2014 and 2013. Accounts payable and accrued expenses for these vendors totaled approximately $90,504 and $146,284 as of September&#xA0;30, 2014 and December&#xA0;31, 2013, respectively.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains cash accounts in commercial banks, which may, at times, exceed federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. As of September&#xA0;30, 2014, the uninsured portion of this balance was $11,514,923. As of December&#xA0;31, 2013, the uninsured portion of this balance was $16,026,510.</p> </div>
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