$OGEN
ORAGENICS INC

2015 Q4 Form 10-Q Financial Statement

#000119312515370199 Filed on November 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $240.2K $329.8K $201.0K
YoY Change 8.95% 64.07% -20.67%
Cost Of Revenue $0.00 $0.00 $73.71K
YoY Change -100.0% -100.0% -34.99%
Gross Profit $0.00 $0.00 $127.3K
YoY Change -100.0% -100.0% -9.07%
Gross Profit Margin 0.0% 0.0% 63.33%
Selling, General & Admin $850.0K $853.9K $565.1K
YoY Change 4.94% 51.11% -77.91%
% of Gross Profit 443.93%
Research & Development $1.340M $1.104M $597.0K
YoY Change 143.64% 84.92% -91.36%
% of Gross Profit 469.0%
Depreciation & Amortization $20.00K $20.00K $10.00K
YoY Change 100.0% 100.0% -50.0%
% of Gross Profit 7.86%
Operating Expenses $2.196M $1.866M $1.162M
YoY Change 61.44% 60.56% -87.72%
Operating Profit -$2.196M -$1.866M -$1.035M
YoY Change 78.5% 80.31% -88.9%
Interest Expense -$20.00K $39.56K $1.305K
YoY Change -300.0% 2931.72% -15.59%
% of Operating Profit
Other Income/Expense, Net $0.00 -$34.16K $5.305K
YoY Change -743.92% 12839.02%
Pretax Income -$2.220M -$1.900M -$1.030M
YoY Change 81.97% 84.56% -88.96%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.219M -$1.864M -$1.030M
YoY Change 81.39% 81.02% -88.96%
Net Earnings / Revenue -923.85% -565.1% -512.19%
Basic Earnings Per Share
Diluted Earnings Per Share -$590.4K -$511.0K -$284.5K
COMMON SHARES
Basic Shares Outstanding 36.48M shares 36.48M shares 36.18M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.080M $6.740M $11.76M
YoY Change -51.39% -42.69% 42.2%
Cash & Equivalents $5.083M $6.739M $11.76M
Short-Term Investments
Other Short-Term Assets $210.0K $170.0K $220.0K
YoY Change 75.0% -22.73% -4.35%
Inventory $321.5K $299.3K $263.9K
Prepaid Expenses
Receivables $21.12K $19.37K $26.31K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.638M $7.231M $12.28M
YoY Change -48.86% -41.1% 39.87%
LONG-TERM ASSETS
Property, Plant & Equipment $140.7K $159.3K $26.30K
YoY Change 28.69% 505.65% -31.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $140.7K $159.3K $26.30K
YoY Change 28.69% 505.65% -31.16%
TOTAL ASSETS
Total Short-Term Assets $5.638M $7.231M $12.28M
Total Long-Term Assets $140.7K $159.3K $26.30K
Total Assets $5.778M $7.390M $12.30M
YoY Change -48.09% -39.93% 39.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $970.0K $760.0K $600.0K
YoY Change 36.62% 26.67% -74.58%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $60.00K $5.110M $110.0K
YoY Change 0.0% 4545.45% -94.66%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.047M $5.887M $739.5K
YoY Change 31.53% 696.03% -83.39%
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 $1.047M $5.887M $739.5K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.050M $5.890M $740.0K
YoY Change 31.25% 695.95% -83.37%
SHAREHOLDERS EQUITY
Retained Earnings -$87.66M -$85.44M -$74.72M
YoY Change 15.42% 14.34% 11.4%
Common Stock $92.39M $86.94M $86.28M
YoY Change 7.08% 0.76% 285904.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.731M $1.503M $11.56M
YoY Change
Total Liabilities & Shareholders Equity $5.778M $7.390M $12.30M
YoY Change -48.09% -39.93% 39.56%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$2.219M -$1.864M -$1.030M
YoY Change 81.39% 81.02% -88.96%
Depreciation, Depletion And Amortization $20.00K $20.00K $10.00K
YoY Change 100.0% 100.0% -50.0%
Cash From Operating Activities -$1.600M -$1.270M -$1.100M
YoY Change 35.59% 15.45% -44.16%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$10.00K $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 -$10.00K $0.00
YoY Change -100.0% -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 -30.00K
YoY Change 0.0% 0.0% -100.78%
NET CHANGE
Cash From Operating Activities -1.600M -1.270M -1.100M
Cash From Investing Activities 0.000 -10.00K 0.000
Cash From Financing Activities -50.00K -30.00K -30.00K
Net Change In Cash -1.650M -1.310M -1.130M
YoY Change 25.0% 15.93% -159.79%
FREE CASH FLOW
Cash From Operating Activities -$1.600M -$1.270M -$1.100M
Capital Expenditures $0.00 -$10.00K $0.00
Free Cash Flow -$1.600M -$1.260M -$1.100M
YoY Change 46.79% 14.55% -43.88%

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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'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>1. Organization</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'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Oragenics, Inc. (formerly known as Oragen, Inc.) (the &#x201C;Company&#x201D; or &#x201C;we&#x201D;) was incorporated in November 1996; however, operating activity did not commence until 1999. We are focused on becoming the world leader in novel antibiotics against infectious disease. We also develop, market and sell proprietary probiotics specifically designed to enhance oral health for humans and pets and on developing effective treatments for oral mucositis.</p> </div>
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Guaranteed Rights of Return</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> 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 $15,339 and $21,222 of revenue deferred under guaranteed rights of return arrangements included in deferred revenue in the balance sheets as of September&#xA0;30, 2015 and December&#xA0;31, 2014, respectively.</p> </div>
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Concentrations</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The Company is dependent on key suppliers to provide probiotics, blending, warehousing and packaging of its EvoraPlus, EvoraKids, EvoraPro, EvoraPet, and Teddy&#x2019;s Pride products. The Company had four key suppliers during the three and nine months ended September&#xA0;30, 2015. The majority of the Company&#x2019;s cost of revenues is from these key suppliers during the three and nine months ended September&#xA0;30, 2015 and 2014. Accounts payable and accrued expenses for these vendors totaled approximately $-0- and $189,120 as of September&#xA0;30, 2015 and December&#xA0;31, 2014, respectively.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> 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, 2015, the uninsured portion of this balance was $6,488,734. As of December&#xA0;31, 2014, the uninsured portion of this balance was $10,198,921.</p> </div>
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ORAGENICS INC
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dei Trading Symbol
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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51620
us-gaap Issuance Of Stock And Warrants For Services Or Claims
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us-gaap Selling General And Administrative Expense
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us-gaap Proceeds From Repayments Of Short Term Debt
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ogen Class Of Warrant Expired
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ogen Class Of Warrant Granted In Period
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ogen Number Of Dental Distributor With Guaranteed Rights Of Returns
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2 Customer
ogen Class Of Warrant Granted In Period Weighted Average Exercise Price
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0
ogen Class Of Warrant Exercised
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ogen Class Of Warrant Expired Weighted Average Exercise Price
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ogen Technology Access Fee Paid In Convertible Note Payable To Shareholder
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ogen Par Value Of Restricted Shares Issued
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ClassOfWarrantGrantedInPeriod
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CY2014 ogen Class Of Warrant Granted In Period Weighted Average Exercise Price
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CY2014 ogen Class Of Warrant Exercised
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CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
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CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2014Q3 us-gaap Sales Revenue Net
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CY2014Q3 us-gaap Employee Benefits And Share Based Compensation
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CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-1029544
CY2014Q3 us-gaap Investment Income Interest
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CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2014Q3 us-gaap Operating Expenses
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CY2014Q3 us-gaap Research And Development Expense
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8093
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
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CY2015Q3 us-gaap Gross Profit
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195204
CY2015Q3 us-gaap Other Nonoperating Income Expense
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CY2015Q3 us-gaap Nonoperating Income Expense
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CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2015Q3 us-gaap Investment Income Interest
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CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2015Q3 us-gaap Operating Expenses
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CY2015Q3 us-gaap Employee Benefits And Share Based Compensation
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CY2015Q3 us-gaap Research And Development Expense
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CY2015Q3 us-gaap Selling General And Administrative Expense
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CY2015Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
134591
CY2015Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
120214

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