$PALI
PALISADE BIO, INC.

2016 Q3 Form 10-Q Financial Statement

#000117184316013023 Filed on November 08, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
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 $1.330M $1.810M
YoY Change -26.52% -8.12%
% of Gross Profit
Research & Development $3.590M $3.392M
YoY Change 5.83% 60.77%
% of Gross Profit
Depreciation & Amortization $100.0K $90.00K
YoY Change 11.11% 12.5%
% of Gross Profit
Operating Expenses $4.920M $5.200M
YoY Change -5.39% 26.47%
Operating Profit -$4.917M -$5.198M
YoY Change -5.4% 26.56%
Interest Expense $240.5K $464.2K
YoY Change -48.2% 28.37%
% of Operating Profit
Other Income/Expense, Net -$303.3K -$440.0K
YoY Change -31.08% 26.27%
Pretax Income -$5.220M -$5.640M
YoY Change -7.45% 26.46%
Income Tax
% Of Pretax Income
Net Earnings -$5.220M -$5.638M
YoY Change -7.4% 26.54%
Net Earnings / Revenue -208811.32% -225502.72%
Basic Earnings Per Share -$0.59
Diluted Earnings Per Share -$0.59 -$94.00M
COMMON SHARES
Basic Shares Outstanding 8.835M 91.79M shares
Diluted Shares Outstanding 8.835M

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.680M $18.15M
YoY Change -68.71% -32.65%
Cash & Equivalents $5.676M $13.13M
Short-Term Investments $0.00 $5.020M
Other Short-Term Assets $950.0K $1.400M
YoY Change -32.14% 86.67%
Inventory
Prepaid Expenses $946.9K $1.289M
Receivables $12.69K $19.16K
Other Receivables $50.00K $0.00
Total Short-Term Assets $6.687M $19.56M
YoY Change -65.82% -29.46%
LONG-TERM ASSETS
Property, Plant & Equipment $315.5K $335.9K
YoY Change -6.05% 11.48%
Goodwill
YoY Change
Intangibles $984.1K $1.147M
YoY Change -14.21% -7.9%
Long-Term Investments
YoY Change
Other Assets $49.98K $72.16K
YoY Change -30.73% 25.02%
Total Long-Term Assets $1.763M $1.578M
YoY Change 11.73% -7.66%
TOTAL ASSETS
Total Short-Term Assets $6.687M $19.56M
Total Long-Term Assets $1.763M $1.578M
Total Assets $8.451M $21.14M
YoY Change -60.03% -28.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.480M $2.040M
YoY Change 21.57% -16.39%
Accrued Expenses $0.00 $770.0K
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.829M $4.458M
YoY Change 8.34% 45.75%
Total Short-Term Liabilities $7.852M $7.470M
YoY Change 5.12% 30.94%
LONG-TERM LIABILITIES
Long-Term Debt $4.625M
YoY Change 77.12%
Other Long-Term Liabilities $4.380M $140.0K
YoY Change 3028.57% -36.36%
Total Long-Term Liabilities $0.00 $4.625M
YoY Change -100.0% 77.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.852M $7.470M
Total Long-Term Liabilities $0.00 $4.625M
Total Liabilities $12.24M $12.24M
YoY Change -0.03% 43.32%
SHAREHOLDERS EQUITY
Retained Earnings -$187.6M -$167.2M
YoY Change 12.23% 14.87%
Common Stock $1.148M $917.9K
YoY Change 25.1% 5.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.785M $8.903M
YoY Change
Total Liabilities & Shareholders Equity $8.451M $21.14M
YoY Change -60.03% -28.2%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$5.220M -$5.638M
YoY Change -7.4% 26.54%
Depreciation, Depletion And Amortization $100.0K $90.00K
YoY Change 11.11% 12.5%
Cash From Operating Activities -$4.480M -$5.510M
YoY Change -18.69% 77.17%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$20.00K
YoY Change -100.0% -77.78%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.01M
YoY Change -100.0% -100200.0%
Cash From Investing Activities $0.00 $9.990M
YoY Change -100.0% -10090.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -970.0K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -4.480M -5.510M
Cash From Investing Activities 0.000 9.990M
Cash From Financing Activities -970.0K 0.000
Net Change In Cash -5.450M 4.480M
YoY Change -221.65% -235.76%
FREE CASH FLOW
Cash From Operating Activities -$4.480M -$5.510M
Capital Expenditures $0.00 -$20.00K
Free Cash Flow -$4.480M -$5.490M
YoY Change -18.4% 81.79%

Facts In Submission

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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
315543
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
343200
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3381898
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
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3589793
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3392086
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9130012
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9887750
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-187637257
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-171958682
CY2016Q3 us-gaap Revenues
Revenues
2500
CY2015Q3 us-gaap Revenues
Revenues
2500
us-gaap Revenues
Revenues
7500
us-gaap Share Based Compensation
ShareBasedCompensation
2866773
us-gaap Share Based Compensation
ShareBasedCompensation
2121049
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
66800000
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
16849228
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.03
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
774083
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
5672232
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.40
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.89
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
71253
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
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
22001096
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.08
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.74
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
67691
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
20480622
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.87
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.08
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.61
CY2016Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
22001096
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2016Q3 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
P4Y109D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y109D
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
P5Y255D
CY2016Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
1.74
CY2015Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
3.77
CY2016Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.40
CY2016Q3 us-gaap Short Term Investments
ShortTermInvestments
CY2015Q4 us-gaap Short Term Investments
ShortTermInvestments
7517453
us-gaap Stock Issued1
StockIssued1
8936
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
-3784951
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=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><div style="display: inline; background-color: white"><div style="display: inline; text-decoration: underline;">Use of Estimates</div></div></div><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><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>
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
114855581
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
91569826
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
104248993
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
90532073

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