$PALI
PALISADE BIO, INC.

2017 Q3 Form 10-Q Financial Statement

#000117184317006717 Filed on November 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $2.500K $2.500K
YoY Change 0.0% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.210M $1.330M
YoY Change -9.02% -26.52%
% of Gross Profit
Research & Development $1.384M $3.590M
YoY Change -61.45% 5.83%
% of Gross Profit
Depreciation & Amortization $50.00K $100.0K
YoY Change -50.0% 11.11%
% of Gross Profit
Operating Expenses $2.590M $4.920M
YoY Change -47.34% -5.39%
Operating Profit -$2.588M -$4.917M
YoY Change -47.37% -5.4%
Interest Expense $1.383K $240.5K
YoY Change -99.42% -48.2%
% of Operating Profit
Other Income/Expense, Net $2.454M -$303.3K
YoY Change -909.19% -31.08%
Pretax Income -$130.0K -$5.220M
YoY Change -97.51% -7.45%
Income Tax
% Of Pretax Income
Net Earnings -$133.8K -$5.220M
YoY Change -97.44% -7.4%
Net Earnings / Revenue -5351.32% -208811.32%
Basic Earnings Per Share -$0.01 -$0.59
Diluted Earnings Per Share -$0.18 -$0.59
COMMON SHARES
Basic Shares Outstanding 14.06M 8.835M
Diluted Shares Outstanding 14.16M 8.835M

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.06M $5.680M
YoY Change 147.54% -68.71%
Cash & Equivalents $9.064M $5.676M
Short-Term Investments $5.000M $0.00
Other Short-Term Assets $550.0K $950.0K
YoY Change -42.11% -32.14%
Inventory
Prepaid Expenses $548.8K $946.9K
Receivables $37.46K $12.69K
Other Receivables $50.00K $50.00K
Total Short-Term Assets $14.71M $6.687M
YoY Change 119.92% -65.82%
LONG-TERM ASSETS
Property, Plant & Equipment $196.2K $315.5K
YoY Change -37.82% -6.05%
Goodwill
YoY Change
Intangibles $915.5K $984.1K
YoY Change -6.98% -14.21%
Long-Term Investments
YoY Change
Other Assets $13.72K $49.98K
YoY Change -72.55% -30.73%
Total Long-Term Assets $1.482M $1.763M
YoY Change -15.97% 11.73%
TOTAL ASSETS
Total Short-Term Assets $14.71M $6.687M
Total Long-Term Assets $1.482M $1.763M
Total Assets $16.19M $8.451M
YoY Change 91.57% -60.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.480M $2.480M
YoY Change -40.32% 21.57%
Accrued Expenses $0.00 $0.00
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.829M
YoY Change 8.34%
Total Short-Term Liabilities $1.835M $7.852M
YoY Change -76.63% 5.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $2.790M $4.380M
YoY Change -36.3% 3028.57%
Total Long-Term Liabilities $2.790M $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.835M $7.852M
Total Long-Term Liabilities $2.790M $0.00
Total Liabilities $4.624M $12.24M
YoY Change -62.21% -0.03%
SHAREHOLDERS EQUITY
Retained Earnings -$205.4M -$187.6M
YoY Change 9.46% 12.23%
Common Stock $151.5K $1.148M
YoY Change -86.81% 25.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.56M -$3.785M
YoY Change
Total Liabilities & Shareholders Equity $16.19M $8.451M
YoY Change 91.57% -60.03%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$133.8K -$5.220M
YoY Change -97.44% -7.4%
Depreciation, Depletion And Amortization $50.00K $100.0K
YoY Change -50.0% 11.11%
Cash From Operating Activities -$3.320M -$4.480M
YoY Change -25.89% -18.69%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $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
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.940M -970.0K
YoY Change -712.37%
NET CHANGE
Cash From Operating Activities -3.320M -4.480M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 5.940M -970.0K
Net Change In Cash 2.620M -5.450M
YoY Change -148.07% -221.65%
FREE CASH FLOW
Cash From Operating Activities -$3.320M -$4.480M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$3.320M -$4.480M
YoY Change -25.89% -18.4%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
7000000
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
7000000
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1000000
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1000000
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1000000
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1000000
CY2017Q3 us-gaap Preferred Stock Value
PreferredStockValue
10000
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
10000
CY2017Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
548766
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
646195
CY2017Q3 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
6000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
5000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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7517453
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
346863
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
313483
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
196191
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
269557
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3765568
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3381898
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
223425
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1383863
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3589793
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6871028
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9130012
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-205383522
CY2016Q3 us-gaap Revenues
Revenues
2500
us-gaap Revenues
Revenues
7500
us-gaap Revenues
Revenues
7500
us-gaap Share Based Compensation
ShareBasedCompensation
1504143
us-gaap Share Based Compensation
ShareBasedCompensation
2866773
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
7000000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1504401
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
23.80
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
52088
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
46982
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.19
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.20
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1691987
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1686881
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.60
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.10
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
23.15
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.08
CY2017Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1686881
CY2017Q3 us-gaap Share Price
SharePrice
2
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2017Q3 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
P3Y292D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y109D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y36D
CY2017Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
22.10
CY2017Q3 us-gaap Short Term Investments
ShortTermInvestments
5000000
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
5000000
us-gaap Stock Issued1
StockIssued1
us-gaap Stock Issued1
StockIssued1
8936
CY2017Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
3000000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
11564776
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
11330778
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=" font: 10pt/normal Times New Roman,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/normal Times New Roman,serif; margin: 0pt 0; text-align: justify; background-color: white"><div style="display: inline; background-color: white">The preparation of financial statements in accordance with United States of America generally accepted accounting principles (&#x201c;U.S. GAAP&#x201d;) 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 and related patents, our net operating loss and related valuation allowance for tax purposes, the fair value of our derivative instruments 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>
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
102228
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14163072
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8835045
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12380054
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8019153
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14060844
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8835045
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12380054
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8019153

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