$PALI
PALISADE BIO, INC.

2018 Q3 Form 10-Q Financial Statement

#000117184318007951 Filed on November 14, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 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 $1.190M $1.210M
YoY Change -1.65% -9.02%
% of Gross Profit
Research & Development $897.1K $1.384M
YoY Change -35.17% -61.45%
% of Gross Profit
Depreciation & Amortization $50.00K $50.00K
YoY Change 0.0% -50.0%
% of Gross Profit
Operating Expenses $2.085M $2.590M
YoY Change -19.5% -47.34%
Operating Profit -$2.083M -$2.588M
YoY Change -19.52% -47.37%
Interest Expense $1.498K $1.383K
YoY Change 8.32% -99.42%
% of Operating Profit
Other Income/Expense, Net $252.4K $2.454M
YoY Change -89.72% -909.19%
Pretax Income -$1.830M -$130.0K
YoY Change 1307.69% -97.51%
Income Tax
% Of Pretax Income
Net Earnings -$1.830M -$133.8K
YoY Change 1268.1% -97.44%
Net Earnings / Revenue -73211.32% -5351.32%
Basic Earnings Per Share -$0.12 -$0.01
Diluted Earnings Per Share -$0.12 -$0.18
COMMON SHARES
Basic Shares Outstanding 15.17M 14.06M
Diluted Shares Outstanding 15.17M 14.16M

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.740M $14.06M
YoY Change -59.17% 147.54%
Cash & Equivalents $5.737M $9.064M
Short-Term Investments $0.00 $5.000M
Other Short-Term Assets $550.0K $550.0K
YoY Change 0.0% -42.11%
Inventory
Prepaid Expenses $545.2K $548.8K
Receivables $162.0K $37.46K
Other Receivables $60.00K $50.00K
Total Short-Term Assets $6.506M $14.71M
YoY Change -55.76% 119.92%
LONG-TERM ASSETS
Property, Plant & Equipment $107.2K $196.2K
YoY Change -45.38% -37.82%
Goodwill
YoY Change
Intangibles $788.7K $915.5K
YoY Change -13.84% -6.98%
Long-Term Investments
YoY Change
Other Assets $28.48K $13.72K
YoY Change 107.56% -72.55%
Total Long-Term Assets $1.215M $1.482M
YoY Change -18.01% -15.97%
TOTAL ASSETS
Total Short-Term Assets $6.506M $14.71M
Total Long-Term Assets $1.215M $1.482M
Total Assets $7.721M $16.19M
YoY Change -52.31% 91.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $840.0K $1.480M
YoY Change -43.24% -40.32%
Accrued Expenses $0.00 $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.185M $1.835M
YoY Change -35.43% -76.63%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.060M $2.790M
YoY Change -26.16% -36.3%
Total Long-Term Liabilities $2.060M $2.790M
YoY Change -26.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.185M $1.835M
Total Long-Term Liabilities $2.060M $2.790M
Total Liabilities $3.242M $4.624M
YoY Change -29.89% -62.21%
SHAREHOLDERS EQUITY
Retained Earnings -$213.3M -$205.4M
YoY Change 3.86% 9.46%
Common Stock $152.1K $151.5K
YoY Change 0.39% -86.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.479M $11.56M
YoY Change
Total Liabilities & Shareholders Equity $7.721M $16.19M
YoY Change -52.31% 91.57%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$1.830M -$133.8K
YoY Change 1268.1% -97.44%
Depreciation, Depletion And Amortization $50.00K $50.00K
YoY Change 0.0% -50.0%
Cash From Operating Activities -$1.660M -$3.320M
YoY Change -50.0% -25.89%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 310.0K 5.940M
YoY Change -94.78% -712.37%
NET CHANGE
Cash From Operating Activities -1.660M -3.320M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 310.0K 5.940M
Net Change In Cash -1.350M 2.620M
YoY Change -151.53% -148.07%
FREE CASH FLOW
Cash From Operating Activities -$1.660M -$3.320M
Capital Expenditures $0.00
Free Cash Flow -$3.320M
YoY Change -25.89%

Facts In Submission

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PreferredStockValue
10000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
346863
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
107154
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
172886
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3765568
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
247817
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
223425
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
897098
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1383863
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3081319
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6871028
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-213303573
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-208699276
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2500
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2500
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
257500
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
7500
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.37
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
34.52
us-gaap Share Based Compensation
ShareBasedCompensation
570273
us-gaap Share Based Compensation
ShareBasedCompensation
1504143
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
6100000
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1300538
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.08
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
550215
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
488640
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.77
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.19
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
108000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1894077
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1832502
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.76
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.13
CY2018Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1832502
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2018Q3 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
P4Y328D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y219D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y255D
CY2018Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
10.37
CY2018Q3 us-gaap Short Term Investments
ShortTermInvestments
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
5000000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
4479104
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
8515129
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=" font-size: 10pt; 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-size: 10pt; text-align: justify; margin: 0pt 0; background-color: white">&nbsp;</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 unaudited 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 liability classified warrants and our share-based compensation related to employees and directors, consultants and advisors, 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>
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
102228
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15171495
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14163072
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15144425
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12380054
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15171495
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14060844
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15144425
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12380054

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