$OTLC
Oncotelic Therapeutics, Inc.

2018 Q4 Form 10-K Financial Statement

#000119312519102832 Filed on April 10, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 2017 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 $510.0K $2.372M $660.0K
YoY Change -22.73% -29.64% -42.11%
% of Gross Profit
Research & Development $120.0K $815.0K $1.770M
YoY Change -93.22% -92.22% -24.36%
% of Gross Profit
Depreciation & Amortization $0.00 $2.000K $0.00
YoY Change -77.78%
% of Gross Profit
Operating Expenses $630.0K $3.002M $2.440M
YoY Change -74.18% -78.31% -29.89%
Operating Profit -$3.002M
YoY Change -78.31%
Interest Expense $0.00 $266.0K $0.00
YoY Change 660.0% -100.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$1.000K $0.00
YoY Change -80.0%
Pretax Income -$630.0K -$2.737M -$2.430M
YoY Change -74.07% -80.18% -29.57%
Income Tax
% Of Pretax Income
Net Earnings -$630.0K -$2.737M -$2.430M
YoY Change -74.07% -80.18% -29.57%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.02 -$73.47K -$0.09
COMMON SHARES
Basic Shares Outstanding 41.42M shares 26.54M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $630.0K $629.0K $1.120M
YoY Change -43.75% -43.59% -90.71%
Cash & Equivalents $629.0K $629.0K $1.115M
Short-Term Investments $0.00
Other Short-Term Assets $170.0K $170.0K $20.00K
YoY Change 750.0% 672.73% -99.01%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $799.0K $799.0K $1.137M
YoY Change -29.73% -29.73% -91.92%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $2.000K
YoY Change -100.0% -81.82%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $33.00K
YoY Change -100.0% 0.0%
Total Long-Term Assets $0.00 $0.00 $35.00K
YoY Change -100.0% -100.0% -20.45%
TOTAL ASSETS
Total Short-Term Assets $799.0K $799.0K $1.137M
Total Long-Term Assets $0.00 $0.00 $35.00K
Total Assets $799.0K $799.0K $1.172M
YoY Change -31.83% -31.83% -91.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $915.0K $915.0K $788.0K
YoY Change 16.12% 16.12% 154.19%
Accrued Expenses $250.0K $246.0K $860.0K
YoY Change -70.93% -71.43% -33.85%
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 $1.161M $1.161M $1.649M
YoY Change -29.59% -29.59% 2.17%
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 $1.161M $1.161M $1.649M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.160M $1.161M $1.650M
YoY Change -29.7% -29.59% 2.48%
SHAREHOLDERS EQUITY
Retained Earnings -$295.0M -$292.3M
YoY Change 0.94% 4.96%
Common Stock $294.7M $291.8M
YoY Change 0.98% 0.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$362.0K -$362.0K -$477.0K
YoY Change
Total Liabilities & Shareholders Equity $799.0K $799.0K $1.172M
YoY Change -31.83% -31.83% -91.7%

Cashflow Statement

Concept 2018 Q4 2018 2017 Q4
OPERATING ACTIVITIES
Net Income -$630.0K -$2.737M -$2.430M
YoY Change -74.07% -80.18% -29.57%
Depreciation, Depletion And Amortization $0.00 $2.000K $0.00
YoY Change -77.78%
Cash From Operating Activities -$420.0K -$2.844M -$790.0K
YoY Change -46.84% -73.98% -81.32%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00 $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 0.000 2.358M
YoY Change
NET CHANGE
Cash From Operating Activities -420.0K -2.844M -790.0K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 2.358M
Net Change In Cash -420.0K -486.0K -790.0K
YoY Change -46.84% -79.92% -51.53%
FREE CASH FLOW
Cash From Operating Activities -$420.0K -$2.844M -$790.0K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26545000
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2018 matn Gain Loss On Change In Fair Value Of Warrant
GainLossOnChangeInFairValueOfWarrant
250000
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10932000
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2420000
CY2017 us-gaap Net Income Loss
NetIncomeLoss
-13812000
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
835000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3535000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
-2737000
CY2018Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
8512000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2358000
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M6D
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
12500000
CY2018 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-486000
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
744000
CY2018 matn Adjustments To Additional Paid In Capital Changes In Fair Value Of Warrants
AdjustmentsToAdditionalPaidInCapitalChangesInFairValueOfWarrants
250000
CY2018 matn Issuance Of Common Stock In Connection With Private Placement Value
IssuanceOfCommonStockInConnectionWithPrivatePlacementValue
-2358000
CY2018 us-gaap Profit Loss
ProfitLoss
-2737000
CY2017 us-gaap Profit Loss
ProfitLoss
-13812000
CY2018 matn Gain Loss On Change In Fair Value Of Warrant
GainLossOnChangeInFairValueOfWarrant
250000
CY2018 us-gaap Depreciation
Depreciation
2000
CY2017 us-gaap Depreciation
Depreciation
9000
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
744000
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
835000
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4000
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2001000
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-599000
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
35000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2844000
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 6pt; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates </div></div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 6pt; text-indent: 0.79in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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 and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 18pt; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Concentration of Credit Risk </div></div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 6pt; text-indent: 0.79in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company has no significant off balance sheet concentrations of credit risk. The only significant financial instrument&#160;that potentially subjects the Company to concentrations of credit risk is cash, which is held with one financial institution. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2000000
CY2018Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
24381000
CY2017Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
9626000
CY2018Q4 matn Share Based Compensation Arrangement By Share Based Payment Award Number Of Stockholder Approved Plans
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockholderApprovedPlans
3
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
112000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
112000
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
208000
CY2018 matn Expenses With Issuance Of Common Stock Private Placement Financing
ExpensesWithIssuanceOfCommonStockPrivatePlacementFinancing
617000
CY2018Q2 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2020-04-12
CY2018Q2 us-gaap Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
2018-06-20
CY2018Q2 matn Class Of Warrant Or Rights Date From Which Warrants Or Rights Expiration Date
ClassOfWarrantOrRightsDateFromWhichWarrantsOrRightsExpirationDate
2020-06-20
CY2018 us-gaap Substantial Doubt About Going Concern Managements Evaluation
SubstantialDoubtAboutGoingConcernManagementsEvaluation
Company's management expects its cash to only support its operations for a short period of time. Therefore, the Company will need to secure additional near-term funding or it could be forced to curtail or terminate operations. Because the Company does not currently have a guaranteed source of working capital that will sustain planned operations for the next twelve months, Management has determined that there is substantial doubt about the Company's ability to continue as a going concern.
CY2018 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2019-06-30
CY2019Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
41419934
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.018
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-2.507
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
590000
CY2018Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
4000000
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-29213000
CY2018 us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
subject to an 80% of taxable income use limitation.
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
3000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1147000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
75000
CY2018 dei Document Type
DocumentType
10-K
CY2018 dei Amendment Flag
AmendmentFlag
false
CY2018 dei Document Period End Date
DocumentPeriodEndDate
2018-12-31
CY2018 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2018 dei Entity Registrant Name
EntityRegistrantName
MATEON THERAPEUTICS INC
CY2018 dei Entity Central Index Key
EntityCentralIndexKey
0000908259
CY2018 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2018 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2018 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2018Q2 dei Entity Public Float
EntityPublicFloat
8042000
CY2018 dei Trading Symbol
TradingSymbol
MATN
CY2018 dei Entity Shell Company
EntityShellCompany
false
CY2018 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2018 dei Entity Small Business
EntitySmallBusiness
true

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