$PALI
PALISADE BIO, INC.

2020 Q2 Form 10-Q Financial Statement

#000117184320005880 Filed on August 13, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $2.500K $7.894K
YoY Change -68.33% -96.87%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.500M $970.0K
YoY Change 54.64% -23.02%
% of Gross Profit
Research & Development $446.0K $954.5K
YoY Change -53.27% -5.94%
% of Gross Profit
Depreciation & Amortization $30.00K $40.00K
YoY Change -25.0% 0.0%
% of Gross Profit
Operating Expenses $1.841M $1.926M
YoY Change -4.43% -15.35%
Operating Profit -$1.841M -$1.918M
YoY Change -4.03% -5.17%
Interest Expense $11.00K $507.00
YoY Change 2069.63% -34.33%
% of Operating Profit
Other Income/Expense, Net -$10.00K $481.5K
YoY Change -102.08% -65.51%
Pretax Income -$1.950M -$1.440M
YoY Change 35.42% 128.57%
Income Tax
% Of Pretax Income
Net Earnings -$1.851M -$1.437M
YoY Change 28.82% 129.16%
Net Earnings / Revenue -74040.0% -18202.7%
Basic Earnings Per Share -$0.67
Diluted Earnings Per Share -$0.67 -$8.471M
COMMON SHARES
Basic Shares Outstanding 2.774M
Diluted Shares Outstanding 2.774M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.83M $2.280M
YoY Change 594.3% -67.84%
Cash & Equivalents $1.519M $2.281M
Short-Term Investments
Other Short-Term Assets $390.0K $260.0K
YoY Change 50.0% -23.53%
Inventory
Prepaid Expenses $390.6K $256.8K
Receivables $16.94K $169.9K
Other Receivables $0.00 $0.00
Total Short-Term Assets $16.24M $2.708M
YoY Change 499.77% -65.79%
LONG-TERM ASSETS
Property, Plant & Equipment $21.70K $63.44K
YoY Change -65.8% -50.44%
Goodwill
YoY Change
Intangibles $630.6K $713.3K
YoY Change -11.6% -12.38%
Long-Term Investments
YoY Change
Other Assets $20.00K $36.90K
YoY Change -45.8% 11.81%
Total Long-Term Assets $859.2K $813.6K
YoY Change 5.61% -38.28%
TOTAL ASSETS
Total Short-Term Assets $16.24M $2.708M
Total Long-Term Assets $859.2K $813.6K
Total Assets $17.10M $3.522M
YoY Change 385.61% -61.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $540.0K $1.050M
YoY Change -48.57% 47.89%
Accrued Expenses $130.0K
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 $676.0K $1.071M
YoY Change -36.9% 39.86%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $190.0K $490.0K
YoY Change -61.22% -78.6%
Total Long-Term Liabilities $190.0K $490.0K
YoY Change -61.22% -78.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $676.0K $1.071M
Total Long-Term Liabilities $190.0K $490.0K
Total Liabilities $867.4K $1.559M
YoY Change -44.37% -49.02%
SHAREHOLDERS EQUITY
Retained Earnings -$231.5M -$218.2M
YoY Change 6.11% 3.17%
Common Stock $173.0K $10.02K
YoY Change 1626.46% -93.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$11.68M $1.963M
YoY Change
Total Liabilities & Shareholders Equity $17.10M $3.522M
YoY Change 385.61% -61.86%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$1.851M -$1.437M
YoY Change 28.82% 129.16%
Depreciation, Depletion And Amortization $30.00K $40.00K
YoY Change -25.0% 0.0%
Cash From Operating Activities -$2.070M -$1.640M
YoY Change 26.22% -34.92%
INVESTING ACTIVITIES
Capital Expenditures
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 7.880M -80.00K
YoY Change -9950.0% -27.27%
NET CHANGE
Cash From Operating Activities -2.070M -1.640M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 7.880M -80.00K
Net Change In Cash 5.810M -1.720M
YoY Change -437.79% -34.6%
FREE CASH FLOW
Cash From Operating Activities -$2.070M -$1.640M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Emerging Growth Company
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dei Document Period End Date
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dei Entity Interactive Data Current
EntityInteractiveDataCurrent
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dei Document Type
DocumentType
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dei Entity Registrant Name
EntityRegistrantName
Seneca Biopharma, Inc.
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CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
200000
CY2020Q2 us-gaap Preferred Stock Value
PreferredStockValue
2000
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
2000
CY2020Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
390646
CY2019Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
510900
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
10263857
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21698
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
41036
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
232296
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
195869
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
446032
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
954453
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1142921
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2468916
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-231501703
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-221975544
CY2020Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2500
CY2019Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
7894
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
8520
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
10394
us-gaap Share Based Compensation
ShareBasedCompensation
317139
us-gaap Share Based Compensation
ShareBasedCompensation
466744
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 Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.1
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.003
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
6100000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
424861
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
38.97
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
648724
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.66
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.61
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
64937
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
271660
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
920384
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.69
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
61.83
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
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.62
CY2020Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
920384
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y73D
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
18940
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y328D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y292D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2019Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2020Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
6049550
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
3271781
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
1962625
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
5125993
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
9977957
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
16234293
us-gaap Sublease Income
SubleaseIncome
59100
us-gaap Sublease Income
SubleaseIncome
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=" 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></div></div>
us-gaap Variable Lease Cost
VariableLeaseCost
us-gaap Variable Lease Cost
VariableLeaseCost
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12642972
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
993854
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10391065
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
952567

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