$OGEN
ORAGENICS INC

2018 Q3 Form 10-Q Financial Statement

#000119312518247326 Filed on August 13, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.184M $1.010M $790.0K
YoY Change 27.29% 27.85% -14.2%
% of Gross Profit
Research & Development $1.581M $1.272M $605.4K
YoY Change 58.61% 110.03% -23.63%
% of Gross Profit
Depreciation & Amortization $8.390K $0.00 $20.00K
YoY Change -16.1% -100.0% 0.0%
% of Gross Profit
Operating Expenses $2.764M $2.284M $1.397M
YoY Change 43.86% 63.49% -19.42%
Operating Profit -$2.764M -$2.284M -$1.397M
YoY Change 43.86% 63.49% -19.42%
Interest Expense $2.142K $664.00 $57.87K
YoY Change -97.98% -98.85% 6438.42%
% of Operating Profit
Other Income/Expense, Net $6.506K $2.260K $175.8K
YoY Change -104.47% -98.71% -62875.71%
Pretax Income -$2.758M -$2.281M -$1.221M
YoY Change 33.41% 86.84% -29.57%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.758M -$2.281M -$1.221M
YoY Change 33.41% 86.86% 290.53%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$231.0K -$378.1K -$247.5K
COMMON SHARES
Basic Shares Outstanding 11.84M shares 6.087M shares 49.27M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.81M $3.940M $2.090M
YoY Change 372.99% 88.52% -61.72%
Cash & Equivalents $13.81M $3.941M $2.089M
Short-Term Investments
Other Short-Term Assets $1.661M $1.260M $2.440M
YoY Change -23.82% -48.36% 1933.33%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $15.47M $5.198M $4.526M
YoY Change 203.3% 14.85% -24.98%
LONG-TERM ASSETS
Property, Plant & Equipment $63.51K $10.64K $51.76K
YoY Change 86.13% -79.44% -50.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $63.51K $10.64K $51.76K
YoY Change 86.13% -79.44% -50.32%
TOTAL ASSETS
Total Short-Term Assets $15.47M $5.198M $4.526M
Total Long-Term Assets $63.51K $10.64K $51.76K
Total Assets $15.54M $5.209M $4.577M
YoY Change 202.53% 13.79% -25.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.367M $1.540M $1.060M
YoY Change -14.05% 45.28% 53.62%
Accrued Expenses $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $190.4K $20.00K $20.00K
YoY Change 46.47% 0.0% -33.33%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.557M $1.558M $1.084M
YoY Change -9.6% 43.8% 20.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $2.400M
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $0.00 $590.0K
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $2.988M
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.557M $1.558M $1.084M
Total Long-Term Liabilities $0.00 $0.00 $2.988M
Total Liabilities $1.557M $1.560M $4.072M
YoY Change -62.23% -61.69% 352.44%
SHAREHOLDERS EQUITY
Retained Earnings -$108.6M -$105.9M -$97.87M
YoY Change 8.68% 8.16% 8.71%
Common Stock $18.42K $6.103K $97.90M
YoY Change -62.62% -99.99% 0.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.98M $3.651M $505.5K
YoY Change
Total Liabilities & Shareholders Equity $15.54M $5.209M $4.577M
YoY Change 202.53% 13.79% -25.41%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$2.758M -$2.281M -$1.221M
YoY Change 33.41% 86.86% 290.53%
Depreciation, Depletion And Amortization $8.390K $0.00 $20.00K
YoY Change -16.1% -100.0% 0.0%
Cash From Operating Activities -$2.452M -$2.280M -$1.770M
YoY Change 82.98% 28.81% 0.57%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $13.80M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.39M 1.460M 1.670M
YoY Change 468.23% -12.57% -35.52%
NET CHANGE
Cash From Operating Activities -2.452M -2.280M -1.770M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 12.39M 1.460M 1.670M
Net Change In Cash 9.936M -820.0K -100.0K
YoY Change 1082.8% 720.0% -104.81%
FREE CASH FLOW
Cash From Operating Activities -$2.452M -$2.280M -$1.770M
Capital Expenditures $0.00
Free Cash Flow -$2.452M
YoY Change 82.98%

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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"> In June of 2016, the Company sold its consumer probiotics business, as such the Company is no longer dependent on key suppliers to continue to operate the consumer probiotics business.</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 June&#xA0;30, 2018, the uninsured portion of this balance was $3,690,530. As of December&#xA0;31, 2017, the uninsured portion of this balance was $5,916,143.</p> </div>
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<div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>1. Organization</b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> 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 a leader in developing novel antibiotics against infectious disease and on developing effective treatments for oral mucositis.</p> </div>
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CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
128000 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6028701 shares
CY2018Q2 ogen Local Business Tax
LocalBusinessTax
330
CY2017Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
121
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.25
CY2017Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
231644
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
791348
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1220987
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2017Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
121
CY2017Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.25
CY2017Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1220987
CY2017Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0
CY2017Q2 us-gaap Interest Expense
InterestExpense
57865
CY2017Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1832
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
175772
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-1220866
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1361
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
1396759
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1396759
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
605411
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
122748
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.60
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
105600 shares
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4928335 shares
CY2017Q2 ogen Local Business Tax
LocalBusinessTax
1200

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