2013 Q3 Form 10-Q Financial Statement
#000114420413060976 Filed on November 13, 2013
Income Statement
| Concept | 2013 Q3 | 2012 Q3 |
|---|---|---|
| Revenue | $5.949M | $5.415M |
| YoY Change | 9.86% | 6.59% |
| Cost Of Revenue | $2.132M | $2.020M |
| YoY Change | 5.54% | 35.57% |
| Gross Profit | $3.817M | $3.399M |
| YoY Change | 12.3% | -5.58% |
| Gross Profit Margin | 64.16% | 62.77% |
| Selling, General & Admin | $2.397M | $2.160M |
| YoY Change | 10.97% | -5.68% |
| % of Gross Profit | 62.8% | 63.55% |
| Research & Development | $181.0K | $170.0K |
| YoY Change | 6.47% | -15.0% |
| % of Gross Profit | 4.74% | 5.0% |
| Depreciation & Amortization | $60.00K | $70.00K |
| YoY Change | -14.29% | -36.36% |
| % of Gross Profit | 1.57% | 2.06% |
| Operating Expenses | $2.578M | $2.320M |
| YoY Change | 11.12% | -6.83% |
| Operating Profit | $1.239M | $1.079M |
| YoY Change | 14.83% | -2.79% |
| Interest Expense | $3.000K | $0.00 |
| YoY Change | ||
| % of Operating Profit | 0.24% | 0.0% |
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | $1.236M | $1.070M |
| YoY Change | 15.51% | -3.6% |
| Income Tax | $0.00 | $0.00 |
| % Of Pretax Income | 0.0% | 0.0% |
| Net Earnings | $1.237M | $1.074M |
| YoY Change | 15.18% | -3.24% |
| Net Earnings / Revenue | 20.79% | 19.83% |
| Basic Earnings Per Share | $0.08 | $0.07 |
| Diluted Earnings Per Share | $0.08 | $0.07 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 15.86M shares | 14.84M shares |
| Diluted Shares Outstanding | 16.31M shares | 14.98M shares |
Balance Sheet
| Concept | 2013 Q3 | 2012 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $750.0K | $1.820M |
| YoY Change | -58.79% | -60.61% |
| Cash & Equivalents | $751.0K | $1.815M |
| Short-Term Investments | ||
| Other Short-Term Assets | $2.110M | $1.100M |
| YoY Change | 91.82% | -40.22% |
| Inventory | $3.273M | $3.410M |
| Prepaid Expenses | ||
| Receivables | $4.445M | $4.170M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $10.58M | $10.51M |
| YoY Change | 0.66% | -26.96% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $2.511M | $2.450M |
| YoY Change | 2.49% | 4.26% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | ||
| YoY Change | ||
| Total Long-Term Assets | $6.088M | $6.020M |
| YoY Change | 1.13% | 1.52% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $10.58M | $10.51M |
| Total Long-Term Assets | $6.088M | $6.020M |
| Total Assets | $16.67M | $16.53M |
| YoY Change | 0.83% | -18.65% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.298M | $540.0K |
| YoY Change | 140.37% | -26.03% |
| Accrued Expenses | $2.690M | $5.670M |
| YoY Change | -52.56% | -11.96% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $4.741M | $6.640M |
| YoY Change | -28.6% | -12.29% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $300.0K | |
| YoY Change | ||
| Total Long-Term Liabilities | $300.0K | $0.00 |
| YoY Change | ||
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $4.741M | $6.640M |
| Total Long-Term Liabilities | $300.0K | $0.00 |
| Total Liabilities | $5.041M | $6.640M |
| YoY Change | -24.08% | -12.29% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$5.983M | |
| YoY Change | ||
| Common Stock | $43.25M | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | $25.64M | |
| YoY Change | ||
| Treasury Stock Shares | 5.336M shares | |
| Shareholders Equity | $11.63M | $9.890M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $16.67M | $16.53M |
| YoY Change | 0.83% | -18.65% |
Cashflow Statement
| Concept | 2013 Q3 | 2012 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $1.237M | $1.074M |
| YoY Change | 15.18% | -3.24% |
| Depreciation, Depletion And Amortization | $60.00K | $70.00K |
| YoY Change | -14.29% | -36.36% |
| Cash From Operating Activities | -$3.260M | -$2.690M |
| YoY Change | 21.19% | -25.28% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$70.00K | -$100.0K |
| YoY Change | -30.0% | 11.11% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | |
| YoY Change | ||
| Cash From Investing Activities | -$70.00K | -$100.0K |
| YoY Change | -30.0% | 25.0% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 20.00K | 0.000 |
| YoY Change | -100.0% | |
| NET CHANGE | ||
| Cash From Operating Activities | -3.260M | -2.690M |
| Cash From Investing Activities | -70.00K | -100.0K |
| Cash From Financing Activities | 20.00K | 0.000 |
| Net Change In Cash | -3.310M | -2.790M |
| YoY Change | 18.64% | -32.45% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$3.260M | -$2.690M |
| Capital Expenditures | -$70.00K | -$100.0K |
| Free Cash Flow | -$3.190M | -$2.590M |
| YoY Change | 23.17% | -26.21% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2013Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
| CY2013Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
751000 | USD |
| CY2012Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
572000 | USD |
| CY2013Q3 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
4445000 | USD |
| CY2012Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
5409000 | USD |
| CY2013Q3 | us-gaap |
Inventory Net
InventoryNet
|
3273000 | USD |
| CY2012Q4 | us-gaap |
Inventory Net
InventoryNet
|
2051000 | USD |
| CY2013Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2110000 | USD |
| CY2012Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2687000 | USD |
| CY2013Q3 | us-gaap |
Assets Current
AssetsCurrent
|
10579000 | USD |
| CY2012Q4 | us-gaap |
Assets Current
AssetsCurrent
|
10719000 | USD |
| CY2013Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2511000 | USD |
| CY2012Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2365000 | USD |
| CY2013Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
3577000 | USD |
| CY2012Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
3577000 | USD |
| CY2013Q3 | us-gaap |
Assets
Assets
|
16667000 | USD |
| CY2012Q4 | us-gaap |
Assets
Assets
|
16661000 | USD |
| CY2013Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1298000 | USD |
| CY2012Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1296000 | USD |
| CY2013Q3 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
2693000 | USD |
| CY2012Q4 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
2760000 | USD |
| CY2013Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
750000 | USD |
| CY2012Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
854000 | USD |
| CY2013Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
4741000 | USD |
| CY2012Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
4910000 | USD |
| CY2013Q3 | us-gaap |
Liabilities Other Than Longterm Debt Noncurrent
LiabilitiesOtherThanLongtermDebtNoncurrent
|
300000 | USD |
| CY2012Q4 | us-gaap |
Liabilities Other Than Longterm Debt Noncurrent
LiabilitiesOtherThanLongtermDebtNoncurrent
|
300000 | USD |
| CY2013Q3 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
300000 | USD |
| CY2012Q4 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
300000 | USD |
| CY2013Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2012Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2013Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
11000 | USD |
| CY2012Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
11000 | USD |
| CY2013Q3 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
43235000 | USD |
| CY2012Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
42867000 | USD |
| CY2013Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-5983000 | USD |
| CY2012Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-5790000 | USD |
| CY2013Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
25637000 | USD |
| CY2012Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
25637000 | USD |
| CY2013Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11626000 | USD |
| CY2012Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11451000 | USD |
| CY2013Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
16667000 | USD |
| CY2012Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
16661000 | USD |
| CY2013Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
4000000 | USD |
| CY2012Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
3860000 | USD |
| CY2013Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0005 | |
| CY2012Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0005 | |
| CY2012Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
| CY2013Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
21222585 | shares |
| CY2012Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
21056115 | shares |
| CY2013Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
5336053 | shares |
| CY2012Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
5336053 | shares |
| CY2013Q3 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
0.08 | |
| CY2012Q3 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
0.07 | |
| us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.01 | ||
| us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.10 | ||
| CY2013Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
15860000 | shares |
| CY2012Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14836000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
15819000 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14804000 | shares | |
| CY2013Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16307000 | shares |
| CY2012Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14981000 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
15819000 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14804000 | shares | |
| us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
119000 | USD | |
| us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
195000 | USD | |
| us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
27000 | USD | |
| us-gaap |
Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
|
27000 | USD | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
178000 | USD | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
188000 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
146000 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
208000 | USD | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-964000 | USD | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
990000 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1222000 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
726000 | USD | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2000 | USD | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-348000 | USD | |
| prph |
Increase Decrease In Accrued Marketing Costs
IncreaseDecreaseInAccruedMarketingCosts
|
-67000 | USD | |
| prph |
Increase Decrease In Accrued Marketing Costs
IncreaseDecreaseInAccruedMarketingCosts
|
-816000 | USD | |
| us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-473000 | USD | |
| us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-597000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
281000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3393000 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
324000 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
333000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-324000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-333000 | USD | |
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
195000 | USD | |
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
222000 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | USD | |
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
179000 | USD | |
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-3726000 | USD | |
| CY2011Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
5541000 | USD |
| CY2012Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1815000 | USD |
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
27000 | USD | |
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | USD | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <h2 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><i>Use of Estimates</i></font></h2> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements and the accompanying notes thereto, in conformity with GAAP, requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets <font style="COLOR: black">and liabilities</font> at the date of the financial statements and reported amounts of revenues and expenses during the respective reporting periods.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> Examples include the provision for bad debt, sales returns and allowances, inventory obsolescence, useful lives of property and equipment and intangible assets, impairment of property and equipment and intangible assets, income tax valuations and assumptions related to accrued advertising.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> When providing for the appropriate sales returns, allowances, cash discounts and cooperative incentive promotion costs (“Sales Allowances”), we apply a uniform and consistent method for making certain assumptions for estimating these provisions.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> These estimates and assumptions are based on historical experience, current trends and other factors that management believes to be relevant at the time the financial statements are prepared.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> Management reviews the accounting policies, assumptions, estimates and judgments on a quarterly basis.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> Actual results could differ from those estimates.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Our primary product, Cold-EEZE</font><sup><font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Ò</font></font></sup> <font style="FONT-SIZE: 10pt">lozenges, utilizes a proprietary zinc formulation which has been clinically proven to reduce the duration of the common cold.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> Factors considered in estimating the appropriate sales returns and allowances for this product include it being (i) a unique product with limited competitors, (ii) competitively priced, (iii) promoted, (iv) unaffected for remaining shelf-life as there is no product expiration date and (v) monitored for inventory levels at major customers and third-party consumption data.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> In addition to Cold-EEZE<sup>®</sup> lozenges, we market and distribute two additional forms of our proprietary zinc formulation, Cold-EEZE<sup>®</sup> QuickMelts<sup>®</sup> and Cold-EEZE<sup>®</sup> Oral Spray.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> We also manufacture, market and distribute an organic cough drop and a Vitamin C supplement (“Organix<sup>®</sup>”).<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> Each of the Cold-EEZE<sup>®</sup> QuickMelts<sup>®</sup>, Cold-EEZE<sup>®</sup> Oral Spray and Organix<sup>®</sup> products carry shelf-life expiration dates for which we aggregate such product market experience data and update our sales returns and allowances estimates accordingly.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> Sales allowances estimates are tracked at the specific customer and product line levels and are tested on an annual historical basis, and reviewed quarterly. Additionally, we monitor current developments by customer, market conditions and any other occurrences that could affect the expected provisions relative to net sales for the period presented.</font></div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
| us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><strong><i><font style="FONT-SIZE: 10pt"> Concentration of Risks</font></i></strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Future revenues, costs, margins, and profits will continue to be influenced by our ability to maintain our manufacturing availability and capacity together with our marketing and distribution capabilities and the regulatory requirements associated with the development of OTC drug, personal care or other products in order to continue to compete on a national level and/or international level.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Our business is subject to federal and state laws and regulations adopted for the health and safety of users of our products. <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font> Our OTC cold remedy <sup></sup>products are subject to regulations by various federal, state and local agencies, including the Food and Drug Administration (“FDA”) and, as applicable, the Homeopathic Pharmacopoeia of the United States.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash investments and trade accounts receivable.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">We maintain cash and cash equivalents with certain major financial institutions. <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font> As of September 30, 2013, our cash balance was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">751,000</font> and our bank balance was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1.5</font> million. <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font> Of the total bank balance, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">747,000</font> was covered by federal depository insurance and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">762,000</font> was uninsured at September 30, 2013.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><strong><font style="FONT-SIZE: 10pt">  </font></strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Trade accounts receivable potentially subject us to credit concentrations from time-to-time as a consequence of the timing, payment pattern and ultimate purchase volumes or shipping schedules with our customers. We extend credit to our customers based upon an evaluation of the customer’s financial condition and credit history and generally we do not require collateral.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> Our broad range of customers includes many large national chain, regional, specialty and local retail stores. <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font> These credit concentrations may impact our overall exposure to credit risk, either positively or negatively, in that our customers may be similarly affected by changes in economic, regulatory or other conditions that may impact the timing and collectability of amounts due to us.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> At September 30, 2013 and December 31, 2012, our largest accounts receivable balances are with three customers representing approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 50</font>% and three customers representing <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 54</font>%, respectively, of our total trade receivable balance.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><strong><font style="COLOR: blue; FONT-SIZE: 10pt"> </font></strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Our revenues are principally generated from the sale of OTC cold remedy products which represented approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 91</font>% and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 91</font>% of total revenues for each of the nine months ended September 30, 2013 and 2012, respectively.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">A significant portion of our business is highly seasonal, which causes major variations in operating results from quarter to quarter.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font> The third and fourth quarters generally represent the largest sales volume for the OTC cold remedy products.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font></font> For the three and nine months ended September 30, 2013 and 2012, our net sales were principally related to domestic markets. <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font></font></div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
| prph |
Dilutive Securities Options Earnings Share
DilutiveSecuritiesOptionsEarningsShare
|
0 | shares | |
| CY2013Q3 | prph |
Dilutive Securities Options Earnings Per Share
DilutiveSecuritiesOptionsEarningsPerShare
|
0 | |
| CY2013Q3 | prph |
Dilutive Securities Options Earnings Share
DilutiveSecuritiesOptionsEarningsShare
|
447000 | shares |
| CY2012Q3 | prph |
Dilutive Securities Options Earnings Share
DilutiveSecuritiesOptionsEarningsShare
|
145000 | shares |
| prph |
Dilutive Securities Options Earnings Share
DilutiveSecuritiesOptionsEarningsShare
|
0 | shares | |
| CY2013Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
1236000 | USD |
| CY2012Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
1074000 | USD |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-193000 | USD | |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1543000 | USD | |
| CY2013Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.08 | |
| CY2012Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.07 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.01 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.10 | ||
| CY2013Q3 | prph |
Dilutive Securities Options Earnings Per Share Value
DilutiveSecuritiesOptionsEarningsPerShareValue
|
0 | USD |
| CY2012Q3 | prph |
Dilutive Securities Options Earnings Per Share Value
DilutiveSecuritiesOptionsEarningsPerShareValue
|
0 | USD |
| prph |
Dilutive Securities Options Earnings Per Share Value
DilutiveSecuritiesOptionsEarningsPerShareValue
|
0 | USD | |
| prph |
Dilutive Securities Options Earnings Per Share Value
DilutiveSecuritiesOptionsEarningsPerShareValue
|
0 | USD | |
| CY2012Q3 | prph |
Dilutive Securities Options Earnings Per Share
DilutiveSecuritiesOptionsEarningsPerShare
|
0 | |
| prph |
Dilutive Securities Options Earnings Per Share
DilutiveSecuritiesOptionsEarningsPerShare
|
0 | ||
| prph |
Dilutive Securities Options Earnings Per Share
DilutiveSecuritiesOptionsEarningsPerShare
|
0 | ||
| CY2013Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
1236000 | USD |
| CY2012Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
1074000 | USD |
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-193000 | USD | |
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-1543000 | USD | |
| CY2013Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.08 | |
| CY2012Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.07 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.01 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.10 | ||
| CY2013Q3 | prph |
Warrants And Options Outstanding
WarrantsAndOptionsOutstanding
|
1264000 | USD |
| CY2012Q3 | prph |
Warrants And Options Outstanding
WarrantsAndOptionsOutstanding
|
1293000 | USD |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
413285 | shares | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
86328 | shares | |
| CY2013Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
447205 | shares |
| CY2012Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
144943 | shares |
| prph |
Ownership Percentage In Joint Venture
OwnershipPercentageInJointVenture
|
0.5 | pure | |
| CY2010 | prph |
Payments To Fund Joint Venture Investments
PaymentsToFundJointVentureInvestments
|
500000 | USD |
| CY2010 | prph |
Maximum Amount Committed Towards Contributions In Joint Venture
MaximumAmountCommittedTowardsContributionsInJointVenture
|
2000000 | USD |
| CY2013Q3 | prph |
Deferred Tax Benefits From Options And Warrants Exercises
DeferredTaxBenefitsFromOptionsAndWarrantsExercises
|
6400000 | USD |
| CY2012Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
37700000 | USD |
| CY2013Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
|
21400000 | USD |
| prph |
Operating Loss Carry Forwards Expiration Dates Description
OperatingLossCarryForwardsExpirationDatesDescription
|
Fiscal 2020 through 2032 | ||
| CY2012Q4 | us-gaap |
Payments For Legal Settlements
PaymentsForLegalSettlements
|
2100000 | USD |
| CY2012 | prph |
Settlement Benefit
SettlementBenefit
|
100000 | USD |
| CY2012Q4 | prph |
Additional Royalties And Commissions Accrual Interest Percentage
AdditionalRoyaltiesAndCommissionsAccrualInterestPercentage
|
0.0325 | pure |
| CY2012Q4 | us-gaap |
Accrued Royalties Current
AccruedRoyaltiesCurrent
|
3500000 | USD |
| CY2012Q4 | prph |
Additional Annual Installment Includes In Other Current Liability
AdditionalAnnualInstallmentIncludesInOtherCurrentLiability
|
100000 | USD |
| CY2012Q4 | prph |
Maximum Number Of Common Stock Authorized For Issuance Over36 Months
MaximumNumberOfCommonStockAuthorizedForIssuanceOver36Months
|
2500000 | shares |
| CY2012Q4 | prph |
Maximum Amount Entitled To Put To Investor In One Draw Down Notice Percentage Of Average Daily Volume On Trading Day
MaximumAmountEntitledToPutToInvestorInOneDrawDownNoticePercentageOfAverageDailyVolumeOnTradingDay
|
5 | pure |
| CY2012Q4 | prph |
Maximum Amount Entitled To Put To Investor In One Draw Down Notice
MaximumAmountEntitledToPutToInvestorInOneDrawDownNotice
|
250000 | USD |
| CY2012Q4 | prph |
Equity Line Purchase Price Percentage
EquityLinePurchasePricePercentage
|
0.95 | pure |
| CY2012Q4 | prph |
Investor Right To Use Excess Proceeds Maximum Percentage
InvestorRightToUseExcessProceedsMaximumPercentage
|
0.05 | pure |
| CY2012Q4 | prph |
Share Purchase Put Restrictions Maximum Percentage Of Ownership Held By Investor To Purchase Shares In Equity Line Of Credit
SharePurchasePutRestrictionsMaximumPercentageOfOwnershipHeldByInvestorToPurchaseSharesInEquityLineOfCredit
|
0.0999 | pure |
| CY2013Q3 | prph |
Additional Annual Installment Includes In Other Current Liability
AdditionalAnnualInstallmentIncludesInOtherCurrentLiability
|
300000 | USD |
| CY2013Q3 | us-gaap |
Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
|
356000 | USD |
| CY2013Q3 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
1491278 | shares |
| CY2013Q3 | us-gaap |
Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
|
1125000 | USD |
| CY2013Q3 | us-gaap |
Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
|
655000 | USD |
| CY2013Q3 | us-gaap |
Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
|
100000 | USD |
| CY2013Q3 | us-gaap |
Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
|
2236000 | USD |
| CY2013Q3 | us-gaap |
Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
|
1300000 | USD |
| CY2012Q4 | us-gaap |
Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
|
1000000 | USD |
| CY2013Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
2000000 | USD |
| CY2012Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
1000000 | USD |
| CY2013Q3 | us-gaap |
Due From Banks
DueFromBanks
|
1500000 | USD |
| CY2013Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
747000 | USD |
| CY2013Q3 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
762000 | USD |
| us-gaap |
Sales Allowances Goods
SalesAllowancesGoods
|
124000 | USD | |
| CY2012 | us-gaap |
Sales Allowances Goods
SalesAllowancesGoods
|
109000 | USD |
| CY2013Q3 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
1400000 | USD |
| CY2012Q3 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
1300000 | USD |
| us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
5900000 | USD | |
| us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
5500000 | USD | |
| CY2013Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights
|
45 | |
| prph |
Equity Method Investment Ownership Percentage Required For Rights Exercisable Under Right Agreement
EquityMethodInvestmentOwnershipPercentageRequiredForRightsExercisableUnderRightAgreement
|
0.15 | pure | |
| prph |
Cash Less Exercise Of Right Terms
CashLessExerciseOfRightTerms
|
In the event of a cashless exercise of the Right and the acquirer has acquired less than 50% beneficial ownership of the Company, a stockholder may exchange one Right for one common share of the Company. | ||
| prph |
Share Based Compensation Arrangement By Share Based Payment Option Expiration Terms
ShareBasedCompensationArrangementByShareBasedPaymentOptionExpirationTerms
|
  No incentive stock option could be exercisable more than ten years after the date of grant or five years after the date of grant where the individual owns more than ten percent of the total combined voting power of all classes of stock. | ||
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | USD | |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
37000 | USD | |
| CY2013Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
67000 | USD |
| CY2012Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
45000 | USD |
| CY2012 | prph |
Additional Royalties And Commissions Payable Installment Amount
AdditionalRoyaltiesAndCommissionsPayableInstallmentAmount
|
1000000 | USD |
| prph |
Entity Principal Product Proven Efficiency Percentage Description
EntityPrincipalProductProvenEfficiencyPercentageDescription
|
Our flagship brand is Cold-EEZE® Cold Remedy and our principal product is Cold-EEZE® zinc gluconate lozenges, proven in clinical studies to reduce the duration of the common cold by 42%. |
