$PALI
PALISADE BIO, INC.

2016 Q2 Form 10-Q Financial Statement

#000117184316011715 Filed on August 11, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $2.500K $2.500K
YoY Change 0.0% -50.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.360M $1.680M
YoY Change -19.05% 10.53%
% of Gross Profit
Research & Development $2.475M $3.313M
YoY Change -25.3% 65.65%
% of Gross Profit
Depreciation & Amortization $90.00K $90.00K
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $3.837M $4.997M
YoY Change -23.22% 42.12%
Operating Profit -$3.834M -$4.995M
YoY Change -23.23% 42.25%
Interest Expense $322.4K $459.1K
YoY Change -29.77% 15.46%
% of Operating Profit
Other Income/Expense, Net -$18.24K -$453.3K
YoY Change -95.98% -86.01%
Pretax Income -$3.850M -$5.450M
YoY Change -29.36% -19.26%
Income Tax
% Of Pretax Income
Net Earnings -$3.853M -$5.448M
YoY Change -29.29% -19.3%
Net Earnings / Revenue -154100.36% -217921.48%
Basic Earnings Per Share
Diluted Earnings Per Share -$55.00M -$90.83M
COMMON SHARES
Basic Shares Outstanding 90.34M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.13M $23.68M
YoY Change -53.0% -21.67%
Cash & Equivalents $11.13M $8.649M
Short-Term Investments $0.00 $15.03M
Other Short-Term Assets $710.0K $1.020M
YoY Change -30.39% 72.88%
Inventory
Prepaid Expenses $705.8K $904.2K
Receivables $5.085K $18.82K
Other Receivables $0.00 $0.00
Total Short-Term Assets $11.84M $24.73M
YoY Change -52.12% -19.83%
LONG-TERM ASSETS
Property, Plant & Equipment $363.2K $343.0K
YoY Change 5.9% 10.62%
Goodwill
YoY Change
Intangibles $1.034M $1.205M
YoY Change -14.22% -3.37%
Long-Term Investments
YoY Change
Other Assets $57.92K $57.26K
YoY Change 1.15% -2.72%
Total Long-Term Assets $1.455M $1.647M
YoY Change -11.62% -7.82%
TOTAL ASSETS
Total Short-Term Assets $11.84M $24.73M
Total Long-Term Assets $1.455M $1.647M
Total Assets $13.29M $26.37M
YoY Change -49.59% -19.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.500M $2.100M
YoY Change 19.05% 3.45%
Accrued Expenses $0.00 $490.0K
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.906M $3.170M
YoY Change 86.3% 7.37%
Total Short-Term Liabilities $8.612M $5.910M
YoY Change 45.72% 18.4%
LONG-TERM LIABILITIES
Long-Term Debt $5.812M
YoY Change 70.15%
Other Long-Term Liabilities $3.850M $110.0K
YoY Change 3400.0% -42.11%
Total Long-Term Liabilities $0.00 $5.812M
YoY Change -100.0% 70.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.612M $5.910M
Total Long-Term Liabilities $0.00 $5.812M
Total Liabilities $12.46M $11.83M
YoY Change 5.29% 37.59%
SHAREHOLDERS EQUITY
Retained Earnings -$182.4M
YoY Change
Common Stock $1.148M $903.6K
YoY Change 27.0% 4.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $836.5K $14.54M
YoY Change
Total Liabilities & Shareholders Equity $13.29M $26.37M
YoY Change -49.58% -19.18%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$3.853M -$5.448M
YoY Change -29.29% -19.3%
Depreciation, Depletion And Amortization $90.00K $90.00K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$3.570M -$4.800M
YoY Change -25.63% 99.17%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$100.0K
YoY Change 0.0% -41.18%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$100.0K -$90.00K
YoY Change 11.11% -47.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.180M -40.00K
YoY Change -18050.0% -92.45%
NET CHANGE
Cash From Operating Activities -3.570M -4.800M
Cash From Investing Activities -100.0K -90.00K
Cash From Financing Activities 7.180M -40.00K
Net Change In Cash 3.510M -4.930M
YoY Change -171.2% 58.52%
FREE CASH FLOW
Cash From Operating Activities -$3.570M -$4.800M
Capital Expenditures -$100.0K -$100.0K
Free Cash Flow -$3.470M -$4.700M
YoY Change -26.17% 109.82%

Facts In Submission

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ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
15007478
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
363192
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
117068
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2474629
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3312841
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5540219
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6495664
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-171958682
CY2016Q2 us-gaap Revenues
Revenues
2500
CY2015Q2 us-gaap Revenues
Revenues
2500
us-gaap Revenues
Revenues
5000
us-gaap Revenues
Revenues
5417
us-gaap Share Based Compensation
ShareBasedCompensation
2287953
us-gaap Share Based Compensation
ShareBasedCompensation
1315817
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
67600000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
15741392
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.13
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
213976
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3809944
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.56
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.26
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
550000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17102947
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
20698915
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.08
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.85
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
20451039
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.86
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.86
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.77
CY2016Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
20698915
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y73D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y73D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y73D
CY2016Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
1.85
CY2016Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.40
CY2015Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
3.77
CY2016Q2 us-gaap Short Term Investments
ShortTermInvestments
CY2015Q4 us-gaap Short Term Investments
ShortTermInvestments
7517453
us-gaap Stock Issued1
StockIssued1
8936
us-gaap Stock Issued1
StockIssued1
360120
CY2016Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
20000000
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
812423
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
836491
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
4967278
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; text-align: justify; margin: 0pt 0"><div style="display: inline; background-color: white"><div style="display: inline; text-decoration: underline;">Use of Estimates</div></div></div><div style=" font-size: 10pt; text-align: justify; margin: 0pt 0; background-color: white"><div style="display: inline; background-color: white">The preparation of financial statements in accordance with U.S. GAAP 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 revenues and expenses during the reporting period. The condensed consolidated financial statements include significant estimates for the expected economic life and value of our licensed technology, our net operating loss and related valuation allowance for tax purposes and our stock-based compensation related to employees and directors, consultants and investment banks, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.</div></div></div></div></div></div></div></div>
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
105835578
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
90791285
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
98887421
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
90004597

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