$PALI
PALISADE BIO, INC.

2019 Q4 Form 10-Q Financial Statement

#000117184319007531 Filed on November 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $0.00 $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 $1.370M $1.300M $1.190M
YoY Change 47.31% 9.24% -1.65%
% of Gross Profit
Research & Development $770.0K $825.5K $897.1K
YoY Change -12.5% -7.98% -35.17%
% of Gross Profit
Depreciation & Amortization $30.00K $30.00K $50.00K
YoY Change 0.0% -40.0% 0.0%
% of Gross Profit
Operating Expenses $2.140M $2.127M $2.085M
YoY Change 18.23% 1.99% -19.5%
Operating Profit -$2.124M -$2.083M
YoY Change 1.99% -19.52%
Interest Expense $90.00K $1.913K $1.498K
YoY Change -93.92% 27.7% 8.32%
% of Operating Profit
Other Income/Expense, Net $0.00 $361.0K $252.4K
YoY Change 43.05% -89.72%
Pretax Income -$2.040M -$1.760M -$1.830M
YoY Change 537.5% -3.83% 1307.69%
Income Tax
% Of Pretax Income
Net Earnings -$2.040M -$1.763M -$1.830M
YoY Change 537.5% -3.67% 1268.1%
Net Earnings / Revenue -70525.36% -73211.32%
Basic Earnings Per Share -$0.12
Diluted Earnings Per Share -$2.519M -$3.520M -$0.12
COMMON SHARES
Basic Shares Outstanding 3.866M 2.100M 15.17M
Diluted Shares Outstanding 15.17M

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.110M $7.300M $5.740M
YoY Change -11.74% 27.18% -59.17%
Cash & Equivalents $5.115M $7.300M $5.737M
Short-Term Investments $0.00
Other Short-Term Assets $510.0K $610.0K $550.0K
YoY Change 41.67% 10.91% 0.0%
Inventory
Prepaid Expenses $510.9K $605.3K $545.2K
Receivables $21.06K $61.15K $162.0K
Other Receivables $0.00 $0.00 $60.00K
Total Short-Term Assets $5.647M $7.966M $6.506M
YoY Change -13.24% 22.44% -55.76%
LONG-TERM ASSETS
Property, Plant & Equipment $41.04K $51.94K $107.2K
YoY Change -54.56% -51.52% -45.38%
Goodwill
YoY Change
Intangibles $668.9K $688.1K $788.7K
YoY Change -12.39% -12.76% -13.84%
Long-Term Investments
YoY Change
Other Assets $230.0K $240.0K $28.48K
YoY Change 859.73% 742.84% 107.56%
Total Long-Term Assets $937.0K $977.2K $1.215M
YoY Change -20.33% -19.55% -18.01%
TOTAL ASSETS
Total Short-Term Assets $5.647M $7.966M $6.506M
Total Long-Term Assets $937.0K $977.2K $1.215M
Total Assets $6.584M $8.944M $7.721M
YoY Change -14.32% 15.83% -52.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $820.0K $1.180M $840.0K
YoY Change -1.2% 40.48% -43.24%
Accrued Expenses $140.0K $0.00
YoY Change
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 $1.225M $1.581M $1.185M
YoY Change 16.51% 33.49% -35.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $230.0K $320.0K $2.060M
YoY Change -60.34% -84.47% -26.16%
Total Long-Term Liabilities $230.0K $320.0K $2.060M
YoY Change -60.34% -84.47% -26.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.225M $1.581M $1.185M
Total Long-Term Liabilities $230.0K $320.0K $2.060M
Total Liabilities $1.458M $1.901M $3.242M
YoY Change -10.83% -41.36% -29.89%
SHAREHOLDERS EQUITY
Retained Earnings -$222.0M -$219.9M -$213.3M
YoY Change 3.91% 3.11% 3.86%
Common Stock $38.67K $28.18K $152.1K
YoY Change 324.75% -81.46% 0.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.332M $7.043M $4.479M
YoY Change
Total Liabilities & Shareholders Equity $6.584M $8.944M $7.721M
YoY Change -14.32% 15.83% -52.31%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$2.040M -$1.763M -$1.830M
YoY Change 537.5% -3.67% 1268.1%
Depreciation, Depletion And Amortization $30.00K $30.00K $50.00K
YoY Change 0.0% -40.0% 0.0%
Cash From Operating Activities -$2.050M -$1.900M -$1.660M
YoY Change 23.49% 14.46% -50.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $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 -140.0K 6.930M 310.0K
YoY Change -108.19% 2135.48% -94.78%
NET CHANGE
Cash From Operating Activities -2.050M -1.900M -1.660M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities -140.0K 6.930M 310.0K
Net Change In Cash -2.190M 5.030M -1.350M
YoY Change -4480.0% -472.59% -151.53%
FREE CASH FLOW
Cash From Operating Activities -$2.050M -$1.900M -$1.660M
Capital Expenditures $0.00
Free Cash Flow -$2.050M
YoY Change 23.49%

Facts In Submission

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-7257
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2001
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
26935
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-282371
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5667
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
7000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
7000000
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
200000
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1000000
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
200000
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1000000
CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
2000
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
10000
CY2019Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
605312
CY2018Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
363288
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
5000000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
414320
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
349578
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
131
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
51943
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
90311
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
362176
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
241061
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
247817
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
825486
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
897098
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3294402
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3081319
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-219937940
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-213623893
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2500
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2500
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
12894
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
257500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
10127
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
228183
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.45
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.40
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
81674
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
299730
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
61.78
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
215.60
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
86.07
us-gaap Share Based Compensation
ShareBasedCompensation
761344
us-gaap Share Based Compensation
ShareBasedCompensation
570273
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
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
8500000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
206347
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
86.15
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.78
CY2019Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
299730
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y73D
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
4479104
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
3271781
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
1962625
us-gaap Sublease Income
SubleaseIncome
86100
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y328D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y36D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2019Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2019Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2019Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
7042563
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
6049550
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
8515129
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
6607111
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
6175203
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 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; 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>
us-gaap Variable Lease Cost
VariableLeaseCost
23200
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2975779
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
758575
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1316597
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
757221

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