$POAI
Predictive Oncology Inc.

2018 Q1 Form 10-Q Financial Statement

#000117184318003957 Filed on May 15, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $411.6K $175.2K
YoY Change 134.97% 80.76%
Cost Of Revenue $117.3K $36.99K
YoY Change 217.21% -56.93%
Gross Profit $294.3K $138.2K
YoY Change 112.96% 1153.62%
Gross Profit Margin 71.49% 78.88%
Selling, General & Admin $1.792M $1.280M
YoY Change 40.09% -28.8%
% of Gross Profit 609.18% 926.03%
Research & Development $94.01K $84.47K
YoY Change 11.29% -30.85%
% of Gross Profit 31.95% 61.13%
Depreciation & Amortization $18.17K $18.57K
YoY Change -2.19% -11.72%
% of Gross Profit 6.17% 13.44%
Operating Expenses $1.786M $1.364M
YoY Change 30.93% -28.93%
Operating Profit -$1.492M -$1.226M
YoY Change 21.68% -35.76%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.760M -$1.340M
YoY Change 31.34% -38.53%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.760M -$1.340M
YoY Change 31.34% -38.53%
Net Earnings / Revenue -427.61% -764.99%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.544M -$2.062M
COMMON SHARES
Basic Shares Outstanding 11.38M 6.451M
Diluted Shares Outstanding 11.38M

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.230M $4.780M
YoY Change -53.35% 43.11%
Cash & Equivalents $2.233M $2.086M
Short-Term Investments $0.00 $2.690M
Other Short-Term Assets $210.0K $160.0K
YoY Change 31.25% -5.88%
Inventory $272.6K $249.2K
Prepaid Expenses
Receivables $241.8K $68.51K
Other Receivables $170.0K $0.00
Total Short-Term Assets $3.123M $5.258M
YoY Change -40.61% 37.7%
LONG-TERM ASSETS
Property, Plant & Equipment $106.0K $112.7K
YoY Change -5.94% -18.11%
Goodwill
YoY Change
Intangibles $115.7K $95.17K
YoY Change 21.58% 0.63%
Long-Term Investments $1.542M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.876M $207.9K
YoY Change 1283.72% -10.48%
TOTAL ASSETS
Total Short-Term Assets $3.123M $5.258M
Total Long-Term Assets $2.876M $207.9K
Total Assets $5.999M $5.466M
YoY Change 9.75% 34.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $186.3K $79.26K
YoY Change 135.05% -89.99%
Accrued Expenses $558.4K $1.203M
YoY Change -53.58% 66.38%
Deferred Revenue $38.86K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $780.0K $1.297M
YoY Change -39.84% -14.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $190.0K
YoY Change
Total Long-Term Liabilities $0.00 $190.0K
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $780.0K $1.297M
Total Long-Term Liabilities $0.00 $190.0K
Total Liabilities $783.6K $1.484M
YoY Change -47.18% -2.38%
SHAREHOLDERS EQUITY
Retained Earnings -$56.53M -$48.36M
YoY Change 16.88% 13.34%
Common Stock $118.0K $64.89K
YoY Change 81.9% -87.82%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.216M $3.983M
YoY Change
Total Liabilities & Shareholders Equity $5.999M $5.466M
YoY Change 9.75% 34.93%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$1.760M -$1.340M
YoY Change 31.34% -38.53%
Depreciation, Depletion And Amortization $18.17K $18.57K
YoY Change -2.19% -11.72%
Cash From Operating Activities -$1.694M -$1.156M
YoY Change 46.54% -27.28%
INVESTING ACTIVITIES
Capital Expenditures $32.79K $26.90K
YoY Change 21.9% 54.7%
Acquisitions
YoY Change
Other Investing Activities $200.0K -$2.310M
YoY Change -108.66% 28.33%
Cash From Investing Activities $145.6K -$2.336M
YoY Change -106.23% 28.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.960M $3.815M
YoY Change -22.42% 4322.96%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.015M 3.815M
YoY Change -20.96% 4138.82%
NET CHANGE
Cash From Operating Activities -1.694M -1.156M
Cash From Investing Activities 145.6K -2.336M
Cash From Financing Activities 3.015M 3.815M
Net Change In Cash 1.467M 322.3K
YoY Change 355.02% -109.71%
FREE CASH FLOW
Cash From Operating Activities -$1.694M -$1.156M
Capital Expenditures $32.79K $26.90K
Free Cash Flow -$1.727M -$1.183M
YoY Change 45.98% -26.4%

Facts In Submission

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<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"><div style="display: inline; font-weight: bold;">Credit Risk </div></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high credit quality financial institutions and, by policy, generally limits the amount of credit exposure to any <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> financial institution. The Company has a credit risk concentration because of depositing <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,984,163</div> of funds in excess of insurance limits in a single bank.</div> <div style=" font-size: 10pt; margin: 0pt 0"></div></div></div></div></div>
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CY2017Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
284665
CY2018Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
55794
CY2017Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
394275
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
361486
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
106009
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
87716
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
94011
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
84472
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-56525066
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-54765045
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
411593
CY2017Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
175166
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3421188
CY2018Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2755087
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
5215833
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
2691914
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
923682
us-gaap Stockholders Equity Period Increase Decrease
StockholdersEquityPeriodIncreaseDecrease
35840380
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
550538
CY2017Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
147454
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
226387
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
587444
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3090578
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1957291
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.18
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
1900000
CY2016Q3 us-gaap Share Price
SharePrice
4.125
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y83D
CY2015Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
9
CY2017 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
86182
CY2018Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2018Q1 us-gaap Transfer To Investments
TransferToInvestments
1542250
CY2017Q1 us-gaap Transfer To Investments
TransferToInvestments
CY2018Q1 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-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Accounting Policies and Estimates</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0">The presentation of financial statements is in conformity with accounting principles generally accepted in the United States of America 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. Actual results could differ from those estimates.</div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0"></div></div></div></div></div>
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
11383217
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6450967
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11383217
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6450967

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