2021 Q4 Form 10-K Financial Statement

#000155837022002388 Filed on February 28, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.782M $20.39M $3.840M
YoY Change 50.57% 160.75% 3390.91%
% of Gross Profit
Research & Development $15.98M $51.10M $6.290M
YoY Change 153.97% 272.88% 591.21%
% of Gross Profit
Depreciation & Amortization $73.00K $163.0K $0.00
YoY Change 1381.82%
% of Gross Profit
Operating Expenses $21.76M $71.49M $10.13M
YoY Change 114.78% 232.08% 893.14%
Operating Profit -$71.49M
YoY Change 232.08%
Interest Expense $109.0K $442.0K $0.00
YoY Change -32.31%
% of Operating Profit
Other Income/Expense, Net $10.00K $395.0K $0.00
YoY Change -166.61%
Pretax Income -$21.64M -$71.10M -$10.13M
YoY Change 113.6% 221.41% 893.14%
Income Tax
% Of Pretax Income
Net Earnings -$21.64M -$71.10M -$10.13M
YoY Change 113.6% 221.4% 893.14%
Net Earnings / Revenue
Basic Earnings Per Share -$1.80
Diluted Earnings Per Share -$544.4K -$1.80 -$263.0K
COMMON SHARES
Basic Shares Outstanding 40.29M 39.52M
Diluted Shares Outstanding 39.52M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $287.3M $287.3M $338.5M
YoY Change -15.14% -15.14%
Cash & Equivalents $13.81M $13.81M $338.5M
Short-Term Investments $273.4M $273.4M
Other Short-Term Assets $3.435M $3.435M $3.500M
YoY Change -1.86% -1.86%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $290.7M $290.7M $342.1M
YoY Change -15.04% -15.03%
LONG-TERM ASSETS
Property, Plant & Equipment $1.474M $4.720M $75.00K
YoY Change 1865.33% 4620.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $540.0K $540.0K $510.0K
YoY Change 5.88% 8.0%
Total Long-Term Assets $5.260M $5.260M $585.0K
YoY Change 799.15% 776.67%
TOTAL ASSETS
Total Short-Term Assets $290.7M $290.7M $342.1M
Total Long-Term Assets $5.260M $5.260M $585.0K
Total Assets $295.9M $295.9M $342.7M
YoY Change -13.65% -13.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.00K $23.00K $719.0K
YoY Change -96.8% -96.71%
Accrued Expenses $8.530M $8.530M $3.100M
YoY Change 175.16% 143.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.019M $9.019M $4.585M
YoY Change 96.71% 96.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.358M $2.358M
YoY Change
Total Long-Term Liabilities $2.358M $2.358M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.019M $9.019M $4.585M
Total Long-Term Liabilities $2.358M $2.358M $0.00
Total Liabilities $11.38M $11.38M $4.585M
YoY Change 148.14% 147.33%
SHAREHOLDERS EQUITY
Retained Earnings -$104.2M -$33.09M
YoY Change 214.83%
Common Stock $3.000K $3.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $284.6M $284.6M $338.1M
YoY Change
Total Liabilities & Shareholders Equity $295.9M $295.9M $342.7M
YoY Change -13.65% -13.64%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$21.64M -$71.10M -$10.13M
YoY Change 113.6% 221.4% 893.14%
Depreciation, Depletion And Amortization $73.00K $163.0K $0.00
YoY Change 1381.82%
Cash From Operating Activities -$18.60M -$50.69M -$9.020M
YoY Change 106.24% 155.16% 961.18%
INVESTING ACTIVITIES
Capital Expenditures -$699.0K $1.575M -$50.00K
YoY Change 1298.0% 2712.5%
Acquisitions
YoY Change
Other Investing Activities $6.699M -$273.9M
YoY Change
Cash From Investing Activities $6.000M -$275.4M -$50.00K
YoY Change -12100.0% 491753.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 818.0K 1.391M 219.8M
YoY Change -99.63% -99.61%
NET CHANGE
Cash From Operating Activities -18.60M -50.69M -9.020M
Cash From Investing Activities 6.000M -275.4M -50.00K
Cash From Financing Activities 818.0K 1.391M 219.8M
Net Change In Cash -11.78M -324.7M 210.7M
YoY Change -105.59% -195.94% -24890.59%
FREE CASH FLOW
Cash From Operating Activities -$18.60M -$50.69M -$9.020M
Capital Expenditures -$699.0K $1.575M -$50.00K
Free Cash Flow -$17.90M -$52.27M -$8.970M
YoY Change 99.6% 162.35% 955.29%

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CY2021 olma Net Operating Loss Carry Forward Period
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P20Y
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7231000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2708000
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
13837000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
4523000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7231000
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2020 us-gaap Net Income Loss
NetIncomeLoss
-22121000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
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CY2020 us-gaap Preferred Stock Conversions Inducements
PreferredStockConversionsInducements
1869000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-71096000
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-23990000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4316000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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39524272
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7021468
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2593316
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.80
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.42
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EarningsPerShareBasic
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CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
64000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
112000
CY2021 us-gaap Lease Cost
LeaseCost
1400000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6278323
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5517804
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4951026
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
46598
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
1224000
CY2020 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
200000
CY2019 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
988000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3152000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1168000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
973000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
799000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
822000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
69000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3831000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
542000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3289000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
931000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2358000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M17D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0865

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