$PALI
PALISADE BIO, INC.

2021 Q1 Form 10-Q Financial Statement

#000117184321003532 Filed on May 14, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020 Q1
Revenue $0.00 $6.020K
YoY Change 140.8%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.720M $3.990M $1.300M
YoY Change 32.31% 191.24% 38.3%
% of Gross Profit
Research & Development $471.1K $410.0K $696.9K
YoY Change -32.4% -46.75% -53.98%
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K $30.00K
YoY Change -66.67% -66.67% -25.0%
% of Gross Profit
Operating Expenses $1.954M $4.400M $1.996M
YoY Change -2.13% 105.61% -18.81%
Operating Profit -$1.954M -$1.990M
YoY Change -1.83% -18.97%
Interest Expense $1.711M -$20.00K $2.579K
YoY Change 66243.54% -122.22% 27.86%
% of Operating Profit
Other Income/Expense, Net -$2.076M $0.00 -$5.585M
YoY Change -62.83% 749.49%
Pretax Income -$2.290M -$4.420M -$7.580M
YoY Change -69.79% 116.67% 143.73%
Income Tax
% Of Pretax Income
Net Earnings -$4.030M -$4.420M -$2.384M
YoY Change 69.04% 116.67% -23.44%
Net Earnings / Revenue -39601.33%
Basic Earnings Per Share
Diluted Earnings Per Share -$792.4K -$1.529M -$5.574M
COMMON SHARES
Basic Shares Outstanding 17.30M 17.30M 9.428M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q4 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.560M $10.53M $10.03M
YoY Change -34.6% 106.07% 150.12%
Cash & Equivalents $615.0K $713.0K $10.03M
Short-Term Investments
Other Short-Term Assets $2.170M $2.240M $410.0K
YoY Change 429.27% 339.22% 36.67%
Inventory
Prepaid Expenses $1.309M $1.400M $414.7K
Receivables $25.26K $59.00K $19.01K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.756M $896.0K $10.46M
YoY Change -16.32% -84.13% 130.57%
LONG-TERM ASSETS
Property, Plant & Equipment $7.243K $5.000K $31.13K
YoY Change -76.73% -87.82% -58.86%
Goodwill
YoY Change
Intangibles $141.6K $147.1K $649.7K
YoY Change -78.2% -78.0% -12.01%
Long-Term Investments
YoY Change
Other Assets $10.00K $10.00K $30.00K
YoY Change -66.67% -95.65% -43.77%
Total Long-Term Assets $159.3K $2.123M $896.8K
YoY Change -82.23% 126.57% 3.39%
TOTAL ASSETS
Total Short-Term Assets $8.756M $896.0K $10.46M
Total Long-Term Assets $159.3K $2.123M $896.8K
Total Assets $8.915M $3.019M $11.36M
YoY Change -21.53% -54.15% 110.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $520.0K $2.537M $960.0K
YoY Change -45.83% 209.39% -11.11%
Accrued Expenses $320.0K $2.740M $130.0K
YoY Change 146.15% 1857.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.047M
YoY Change
Total Short-Term Liabilities $1.015M $8.082M $1.186M
YoY Change -14.44% 559.89% -1.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $94.00K $0.00
YoY Change
Other Long-Term Liabilities $170.0K $80.00K $200.0K
YoY Change -15.0% -65.22% -78.26%
Total Long-Term Liabilities $170.0K $94.00K $200.0K
YoY Change -15.0% -59.13% -78.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.015M $8.082M $1.186M
Total Long-Term Liabilities $170.0K $94.00K $200.0K
Total Liabilities $1.186M $10.12M $1.383M
YoY Change -14.21% 594.01% -35.21%
SHAREHOLDERS EQUITY
Retained Earnings -$240.5M -$68.03M -$229.6M
YoY Change 4.78% -69.35% 5.91%
Common Stock $28.83K $28.00K $94.28K
YoY Change -69.43% -27.58% -48.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$20.06M -$16.60M -$10.23M
YoY Change
Total Liabilities & Shareholders Equity $8.915M $3.019M $11.36M
YoY Change -21.53% -54.15% 110.16%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020 Q1
OPERATING ACTIVITIES
Net Income -$4.030M -$4.420M -$2.384M
YoY Change 69.04% 116.67% -23.44%
Depreciation, Depletion And Amortization $10.00K $10.00K $30.00K
YoY Change -66.67% -66.67% -25.0%
Cash From Operating Activities -$1.250M -$2.200M -$1.678M
YoY Change -25.49% 7.32% 0.7%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities
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 1.152M 0.000 6.593M
YoY Change -82.53% -100.0% -5734.49%
NET CHANGE
Cash From Operating Activities -1.250M -2.200M -1.678M
Cash From Investing Activities
Cash From Financing Activities 1.152M 0.000 6.593M
Net Change In Cash -98.00K -2.200M 4.915M
YoY Change -101.99% 0.46% -375.68%
FREE CASH FLOW
Cash From Operating Activities -$1.250M -$2.200M -$1.678M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
87.60
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
438650
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1821552
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
299563
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
299563
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
46.80
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
46.80
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2021Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
299563
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
872827
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y219D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y292D
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
5125993
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
9977957
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
9767916
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
7728790
CY2021Q1 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="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 Seneca's licensed technology and related patents, Seneca's net operating loss and related valuation allowance for tax purposes, the fair value of Seneca's liability classified warrants and Seneca's 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></div></div>
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2886446
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1356527

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