$PALI
PALISADE BIO, INC.

2020 Q1 Form 10-Q Financial Statement

#000117184320003750 Filed on May 15, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1 2018 Q4
Revenue $6.020K $2.500K $0.00
YoY Change 140.8% 0.0% -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.300M $940.0K $930.0K
YoY Change 38.3% -20.34% -28.46%
% of Gross Profit
Research & Development $696.9K $1.514M $880.0K
YoY Change -53.98% 29.5% -28.46%
% of Gross Profit
Depreciation & Amortization $30.00K $40.00K $30.00K
YoY Change -25.0% -42.86% -50.0%
% of Gross Profit
Operating Expenses $1.996M $2.459M $1.810M
YoY Change -18.81% 4.57% -28.17%
Operating Profit -$1.990M -$2.457M
YoY Change -18.97% 4.58%
Interest Expense $2.579K $2.017K $1.480M
YoY Change 27.86% 5.05% -240.95%
% of Operating Profit
Other Income/Expense, Net -$5.585M -$657.4K $0.00
YoY Change 749.49% -425.42% -100.0%
Pretax Income -$7.580M -$3.110M -$320.0K
YoY Change 143.73% 44.65% -90.36%
Income Tax
% Of Pretax Income
Net Earnings -$2.384M -$3.114M -$320.0K
YoY Change -23.44% 45.04% -90.36%
Net Earnings / Revenue -39601.33% -124559.68%
Basic Earnings Per Share
Diluted Earnings Per Share -$5.574M -$20.73M -$2.462M
COMMON SHARES
Basic Shares Outstanding 9.428M 18.21M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q1 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.03M $4.010M $5.790M
YoY Change 150.12% -58.74% -50.39%
Cash & Equivalents $10.03M $4.005M $5.787M
Short-Term Investments $0.00
Other Short-Term Assets $410.0K $300.0K $360.0K
YoY Change 36.67% -14.29% -10.0%
Inventory
Prepaid Expenses $414.7K $295.4K $363.3K
Receivables $19.01K $237.8K $294.1K
Other Receivables $0.00 $0.00 $70.00K
Total Short-Term Assets $10.46M $4.538M $6.508M
YoY Change 130.57% -55.54% -47.72%
LONG-TERM ASSETS
Property, Plant & Equipment $31.13K $75.67K $90.31K
YoY Change -58.86% -49.44% -47.76%
Goodwill
YoY Change
Intangibles $649.7K $738.4K $763.5K
YoY Change -12.01% -12.02% -13.57%
Long-Term Investments
YoY Change
Other Assets $30.00K $53.35K $23.97K
YoY Change -43.77% 195.62% 73.0%
Total Long-Term Assets $896.8K $867.4K $1.176M
YoY Change 3.39% -35.33% -18.08%
TOTAL ASSETS
Total Short-Term Assets $10.46M $4.538M $6.508M
Total Long-Term Assets $896.8K $867.4K $1.176M
Total Assets $11.36M $5.406M $7.684M
YoY Change 110.16% -53.2% -44.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $960.0K $1.080M $830.0K
YoY Change -11.11% -7.69% -5.68%
Accrued Expenses $130.0K $0.00
YoY Change -100.0%
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 $1.186M $1.210M $1.051M
YoY Change -1.97% -5.39% -30.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $920.0K $580.0K
YoY Change -78.26% -74.86% -84.94%
Total Long-Term Liabilities $200.0K $920.0K $580.0K
YoY Change -78.26% -74.86% -84.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.186M $1.210M $1.051M
Total Long-Term Liabilities $200.0K $920.0K $580.0K
Total Liabilities $1.383M $2.134M $1.635M
YoY Change -35.21% -56.83% -69.55%
SHAREHOLDERS EQUITY
Retained Earnings -$229.6M -$216.7M -$213.6M
YoY Change 5.91% 2.79% 2.36%
Common Stock $94.28K $182.1K $9.103K
YoY Change -48.21% 20.09% -94.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$10.23M $3.272M $6.050M
YoY Change
Total Liabilities & Shareholders Equity $11.36M $5.406M $7.684M
YoY Change 110.16% -53.2% -44.65%

Cashflow Statement

Concept 2020 Q1 2019 Q1 2018 Q4
OPERATING ACTIVITIES
Net Income -$2.384M -$3.114M -$320.0K
YoY Change -23.44% 45.04% -90.36%
Depreciation, Depletion And Amortization $30.00K $40.00K $30.00K
YoY Change -25.0% -42.86% -50.0%
Cash From Operating Activities -$1.678M -$1.666M -$1.660M
YoY Change 0.7% -9.8% -27.51%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $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 6.593M -117.0K 1.710M
YoY Change -5734.49% 12.25% -1810.0%
NET CHANGE
Cash From Operating Activities -1.678M -1.666M -1.660M
Cash From Investing Activities 0.000
Cash From Financing Activities 6.593M -117.0K 1.710M
Net Change In Cash 4.915M -1.783M 50.00K
YoY Change -375.68% -158.48% -102.09%
FREE CASH FLOW
Cash From Operating Activities -$1.678M -$1.666M -$1.660M
Capital Expenditures $0.00
Free Cash Flow -$1.660M
YoY Change -27.51%

Facts In Submission

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266606
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
62.89
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
61.83
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2020Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
266606
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y109D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y292D
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
6049550
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
3271781
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
5125993
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
9977957
CY2019Q1 us-gaap Sublease Income
SubleaseIncome
24159
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
CY2020Q1 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; text-decoration: underline;">Use of Estimates</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; 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>
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
8916
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8139159
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
910821

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