2016 Q1 Form 10-K Financial Statement

#000119312516523701 Filed on March 30, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.100M $5.820M $13.27M
YoY Change 181.11% 117.16% 20.65%
% of Gross Profit
Research & Development $2.408M $3.670M $11.38M
YoY Change -1.65% 130.82% 95.9%
% of Gross Profit
Depreciation & Amortization $3.496K $170.0K $13.17K
YoY Change 9.63% 0.0% 54.3%
% of Gross Profit
Operating Expenses $8.507M $9.663M $11.38M
YoY Change 84.13% 117.49% 95.9%
Operating Profit -$8.507M -$24.65M
YoY Change 84.12% 95.15%
Interest Expense $0.00 $10.00K $151.4K
YoY Change -100.0% -99.07% -93.66%
% of Operating Profit
Other Income/Expense, Net $1.000K $11.00K
YoY Change -98.95% -98.98%
Pretax Income -$8.510M -$9.650M -$24.50M
YoY Change 87.86% -1276.83% 139.21%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$8.506M -$9.652M -$24.50M
YoY Change 87.98% -1282.84% 139.21%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$41.46K -$47.11K -$125.2K
COMMON SHARES
Basic Shares Outstanding 205.0M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q4 2015
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.760M $14.18M $14.18M
YoY Change -31.12% -18.46% -18.47%
Cash & Equivalents $9.761M $14.18M $14.18M
Short-Term Investments
Other Short-Term Assets $336.9K $41.19K $41.19K
YoY Change -72.47% -95.79% -95.79%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $10.45M $14.72M $14.72M
YoY Change -34.13% -22.94% -22.94%
LONG-TERM ASSETS
Property, Plant & Equipment $81.65K $85.15K $85.15K
YoY Change -8.24% -7.62% -7.62%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.00K $27.00K $27.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $5.571M $5.720M $5.720M
YoY Change -19.38% -19.23% -19.23%
TOTAL ASSETS
Total Short-Term Assets $10.45M $14.72M $14.72M
Total Long-Term Assets $5.571M $5.720M $5.720M
Total Assets $16.02M $20.44M $20.44M
YoY Change -29.65% -21.94% -21.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.400M $1.890M $1.887M
YoY Change 115.38% 329.55% 328.22%
Accrued Expenses $440.0K $2.240M $2.236M
YoY Change 18.92% 446.34% 449.29%
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 $1.835M $4.123M $4.123M
YoY Change 79.44% 386.35% 386.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.835M $4.123M $4.123M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.830M $4.123M $4.123M
YoY Change 70.24% 314.66% 314.66%
SHAREHOLDERS EQUITY
Retained Earnings -$189.3M -$180.8M
YoY Change 17.71% 15.68%
Common Stock $212.8K $205.0K
YoY Change 14.44% 10.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.18M $16.32M $16.32M
YoY Change
Total Liabilities & Shareholders Equity $16.02M $20.44M $20.44M
YoY Change -29.65% -21.94% -21.94%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015
OPERATING ACTIVITIES
Net Income -$8.506M -$9.652M -$24.50M
YoY Change 87.98% -1282.84% 139.21%
Depreciation, Depletion And Amortization $3.496K $170.0K $13.17K
YoY Change 9.63% 0.0% 54.3%
Cash From Operating Activities -$8.050M -$4.960M -$17.41M
YoY Change 92.12% 18.66% 25.73%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $6.139K
YoY Change -91.3%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$6.140K
YoY Change -91.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.640M 260.0K 14.20M
YoY Change 275.26% -93.14% -9.03%
NET CHANGE
Cash From Operating Activities -8.050M -4.960M -17.41M
Cash From Investing Activities 0.000 -6.140K
Cash From Financing Activities 3.640M 260.0K 14.20M
Net Change In Cash -4.410M -4.700M -3.213M
YoY Change 36.96% 1105.13% 4451.21%
FREE CASH FLOW
Cash From Operating Activities -$8.050M -$4.960M -$17.41M
Capital Expenditures $0.00 $6.139K
Free Cash Flow -$4.960M -$17.42M
YoY Change 18.66% 25.14%

Facts In Submission

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10-K
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0000315545
CY2015 dei Entity Filer Category
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Accelerated Filer
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The Company completed a Section 382 study for the perio d from inception through the year ended December 31, 2014 and recorded a limitation of $3.2 million to their net operating loss carry-forward.
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Yes
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1750000 shares
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PROVECTUS BIOPHARMACEUTICALS, INC.
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No
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1750000 shares
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2015-12-31
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <u>Estimates</u></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of financial statements 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.</p> </div>
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CY2015 pvct Litigation Settlement Payment Description
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The remaining cash settlement amounts will continue to be repaid to the Company over a period of four years with the second payment due in total by October 2016 and the final payment is expected to be received by October 3, 2019. $103,969 of the settlement discount was amortized as of December 31, 2015.
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NumberOfWarrantsExercisedDuringPeriod
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ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsForfeited
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CY2014Q1 pvct Warrants Exercised On Cashless Basis
WarrantsExercisedOnCashlessBasis
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NumberOfWarrantsExercised
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ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsIssued
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GrossProceedsFromSalesOfCommonStockAndWarrants
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ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsIssued
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931655
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GrossProceedsFromSalesOfCommonStockAndWarrants
2641501
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CY2014Q2 us-gaap Operating Expenses
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CY2014Q2 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
450002
CY2014Q2 pvct Gross Proceeds From Sales Of Common Stock And Warrants
GrossProceedsFromSalesOfCommonStockAndWarrants
5000000
CY2014Q2 pvct Purchase Price Of Common Stock With Warrants
PurchasePriceOfCommonStockWithWarrants
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CY2014Q2 pvct Aggregate Exercise Price Of Warrants Exercised
AggregateExercisePriceOfWarrantsExercised
372000
CY2014Q2 pvct Number Of Warrants Exercised During Period
NumberOfWarrantsExercisedDuringPeriod
372000 shares
CY2014Q2 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Forfeited
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsForfeited
315000 shares
CY2014Q2 pvct Warrants Exercised On Cashless Basis
WarrantsExercisedOnCashlessBasis
1594082 shares
CY2014Q2 pvct Percentage Of Common Shares Issuable On Exercise Of Each Warrant
PercentageOfCommonSharesIssuableOnExerciseOfEachWarrant
1.00 pure
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NumberOfWarrantsExercised
133232 shares
CY2014Q2 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsIssued
202000 shares
CY2014Q2 pvct Stock Issued During Period Shares Warrants Exercised On Cashless Basis
StockIssuedDuringPeriodSharesWarrantsExercisedOnCashlessBasis
915467 shares
CY2014Q2 pvct Stocks Issued During Period Shares Issued For Cash
StocksIssuedDuringPeriodSharesIssuedForCash
2000000 shares
CY2015Q2 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
75000 shares
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
187793000 shares
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IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
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NetIncomeLoss
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CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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OtherNonoperatingIncomeExpense
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CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
4592000
CY2015Q2 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
53582
CY2015Q2 pvct Gross Proceeds From Sales Of Common Stock And Warrants
GrossProceedsFromSalesOfCommonStockAndWarrants
1011100
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PurchasePriceOfCommonStockWithWarrants
1.00
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ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsForfeited
1161790 shares
CY2015Q2 pvct Percentage Of Common Shares Issuable On Exercise Of Each Warrant
PercentageOfCommonSharesIssuableOnExerciseOfEachWarrant
0.50 pure
CY2015Q2 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsIssued
100000 shares
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StocksIssuedDuringPeriodSharesIssuedForCash
1011100 shares
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ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
75000 shares
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IssuanceOfStockAndWarrantsForServicesOrClaims
186223
CY2013Q3 pvct Gross Proceeds From Sales Of Common Stock And Warrants
GrossProceedsFromSalesOfCommonStockAndWarrants
4613037
CY2013Q3 pvct Purchase Price Of Common Stock With Warrants
PurchasePriceOfCommonStockWithWarrants
0.75
CY2013Q3 pvct Convertible Preferred Stock Shares To Be Converted To Common Stock Shares
ConvertiblePreferredStockSharesToBeConvertedToCommonStockShares
441667 shares
CY2013Q3 pvct Percentage Of Aggregate Shares Called By Warrant
PercentageOfAggregateSharesCalledByWarrant
0.10 pure
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ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsForfeited
136500 shares
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PercentageOfCommonSharesIssuableOnExerciseOfEachWarrant
1.50 pure
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ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsIssued
442000 shares
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StocksIssuedDuringPeriodSharesIssuedForCash
6150718 shares
CY2014Q3 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
75000 shares
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
179089000 shares
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.02
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-3749000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3749000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
77000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
3826000
CY2014Q3 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
4189
CY2014Q3 pvct Purchase Price Of Common Stock With Warrants
PurchasePriceOfCommonStockWithWarrants
1.00
CY2014Q3 pvct Aggregate Amount Of Common Stock
AggregateAmountOfCommonStock
3586300
CY2014Q3 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Forfeited
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsForfeited
228500 shares
CY2014Q3 pvct Percentage Of Common Shares Issuable On Exercise Of Each Warrant
PercentageOfCommonSharesIssuableOnExerciseOfEachWarrant
0.50 pure
CY2014Q3 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsIssued
6000 shares
CY2014Q3 pvct Stocks Issued During Period Shares Issued For Cash
StocksIssuedDuringPeriodSharesIssuedForCash
3586300 shares
CY2015Q3 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
78877 shares
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
204610000 shares
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.03
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-5780000
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5780000
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
5779000
CY2015Q3 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
24262
CY2015Q3 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Forfeited
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsForfeited
1152135 shares
CY2015Q3 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsIssued
79500 shares
CY2013Q4 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
275000 shares
CY2013Q4 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
2400000
CY2013Q4 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
259306
CY2013Q4 pvct Gross Proceeds From Sales Of Common Stock And Warrants
GrossProceedsFromSalesOfCommonStockAndWarrants
5820588
CY2013Q4 pvct Purchase Price Of Common Stock With Warrants
PurchasePriceOfCommonStockWithWarrants
0.75
CY2013Q4 pvct Aggregate Exercise Price Of Warrants Exercised
AggregateExercisePriceOfWarrantsExercised
3412392
CY2013Q4 pvct Convertible Preferred Stock Shares To Be Converted To Common Stock Shares
ConvertiblePreferredStockSharesToBeConvertedToCommonStockShares
2925000 shares
CY2013Q4 pvct Number Of Warrants Exercised During Period
NumberOfWarrantsExercisedDuringPeriod
3899840 shares
CY2013Q4 pvct Percentage Of Aggregate Shares Called By Warrant
PercentageOfAggregateSharesCalledByWarrant
0.10 pure
CY2013Q4 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Forfeited
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsForfeited
247973 shares
CY2013Q4 pvct Warrants Exercised On Cashless Basis
WarrantsExercisedOnCashlessBasis
4480005 shares
CY2013Q4 pvct Percentage Of Common Shares Issuable On Exercise Of Each Warrant
PercentageOfCommonSharesIssuableOnExerciseOfEachWarrant
1.50 pure
CY2013Q4 pvct Number Of Warrants Exercised
NumberOfWarrantsExercised
1146662 shares
CY2013Q4 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsIssued
209473 shares
CY2013Q4 pvct Reclassification Of Adjusted Fair Value Of Warrants Into Additional Paid In Capital
ReclassificationOfAdjustedFairValueOfWarrantsIntoAdditionalPaidInCapital
765997
CY2013Q4 pvct Stock Issued During Period Shares Warrants Exercised On Cashless Basis
StockIssuedDuringPeriodSharesWarrantsExercisedOnCashlessBasis
2386004 shares
CY2013Q4 pvct Stocks Issued During Period Shares Issued For Cash
StocksIssuedDuringPeriodSharesIssuedForCash
7760784 shares
CY2014Q4 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
75000 shares
CY2014Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
182057000 shares
CY2014Q4 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.00
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
816000
CY2014Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
816000
CY2014Q4 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
4178000
CY2014Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1081000
CY2014Q4 us-gaap Operating Expenses
OperatingExpenses
4443000
CY2014Q4 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
966819
CY2014Q4 pvct Gross Proceeds From Sales Of Common Stock And Warrants
GrossProceedsFromSalesOfCommonStockAndWarrants
4198300
CY2014Q4 pvct Purchase Price Of Common Stock With Warrants
PurchasePriceOfCommonStockWithWarrants
1.00
CY2014Q4 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Forfeited
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsForfeited
1027635 shares
CY2014Q4 pvct Percentage Of Common Shares Issuable On Exercise Of Each Warrant
PercentageOfCommonSharesIssuableOnExerciseOfEachWarrant
0.50 pure
CY2014Q4 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsIssued
1503913 shares
CY2014Q4 pvct Stocks Issued During Period Shares Issued For Cash
StocksIssuedDuringPeriodSharesIssuedForCash
4198300 shares
CY2015Q4 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
76750 shares
CY2015Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
204735000 shares
CY2015Q4 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.05
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-9652000
CY2015Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9652000
CY2015Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
11000
CY2015Q4 us-gaap Operating Expenses
OperatingExpenses
9663000
CY2015Q4 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
472882
CY2015Q4 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Forfeited
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsForfeited
252500 shares
CY2015Q4 pvct Share Based Goods And Nonemployee Services Transaction Quantity Of Warrants Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfWarrantsIssued
1766202 shares

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