$PVCT
PROVECTUS BIOPHARMACEUTICALS, INC.

2017 Q1 Form 10-K Financial Statement

#000119312517106543 Filed on March 31, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2016 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.540M $3.510M $3.320M
YoY Change -58.36% -39.69% 14.09%
% of Gross Profit
Research & Development $1.854M $1.330M $2.461M
YoY Change -23.02% -63.76% -14.07%
% of Gross Profit
Depreciation & Amortization $2.631K $170.0K $160.0K
YoY Change -24.74% 0.0% 0.0%
% of Gross Profit
Operating Expenses $1.854M $5.183M $5.777M
YoY Change -78.21% -46.36% -0.03%
Operating Profit -$4.398M -$5.777M
YoY Change -48.3% -0.03%
Interest Expense $10.00K $180.0K $340.0K
YoY Change 1700.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $182.0K -$99.00K
YoY Change -100.0% 1554.55% 9800.0%
Pretax Income -$4.390M -$5.000M -$5.880M
YoY Change -48.41% -48.19% 1.73%
Income Tax
% Of Pretax Income
Net Earnings -$4.389M -$5.001M -$5.876M
YoY Change -48.4% -48.19% 1.66%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$12.02K -$16.99K -$26.37K
COMMON SHARES
Basic Shares Outstanding 364.8M shares 243.9M shares 212.8M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $440.0K $1.170M $5.180M
YoY Change -95.49% -91.75% -72.56%
Cash & Equivalents $437.0K $1.166M $5.178M
Short-Term Investments
Other Short-Term Assets $250.5K $360.6K $187.2K
YoY Change -25.64% 775.32% -82.44%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $887.5K $1.826M $5.415M
YoY Change -91.51% -87.59% -72.86%
LONG-TERM ASSETS
Property, Plant & Equipment $69.40K $72.03K $75.22K
YoY Change -15.0% -15.4% -15.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $27.00K
YoY Change -100.0% 0.0%
Total Long-Term Assets $3.623M $3.785M $5.270M
YoY Change -34.97% -33.83% -20.8%
TOTAL ASSETS
Total Short-Term Assets $887.5K $1.826M $5.415M
Total Long-Term Assets $3.623M $3.785M $5.270M
Total Assets $4.510M $5.611M $10.69M
YoY Change -71.84% -72.55% -59.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.770M $1.920M $1.490M
YoY Change 97.86% 1.59% 53.61%
Accrued Expenses $160.0K $220.0K $550.0K
YoY Change -63.64% -90.18% -49.54%
Deferred Revenue
YoY Change
Short-Term Debt $2.500M $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.431M $2.142M $5.376M
YoY Change 196.01% -48.05% 159.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.431M $2.142M $5.376M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $5.430M $2.140M $5.380M
YoY Change 196.72% -48.09% 159.32%
SHAREHOLDERS EQUITY
Retained Earnings -$209.6M -$205.2M -$200.2M
YoY Change 10.73% 13.51% 16.99%
Common Stock $370.4K $364.8K $243.9K
YoY Change 74.02% 77.96% 19.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$920.3K $3.469M $5.310M
YoY Change
Total Liabilities & Shareholders Equity $4.510M $5.611M $10.69M
YoY Change -71.84% -72.55% -59.84%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income -$4.389M -$5.001M -$5.876M
YoY Change -48.4% -48.19% 1.66%
Depreciation, Depletion And Amortization $2.631K $170.0K $160.0K
YoY Change -24.74% 0.0% 0.0%
Cash From Operating Activities -$3.230M -$4.020M -$5.000M
YoY Change -59.88% -18.95% 18.2%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.500M 0.000 5.280M
YoY Change -31.32% -100.0%
NET CHANGE
Cash From Operating Activities -3.230M -4.020M -5.000M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 2.500M 0.000 5.280M
Net Change In Cash -730.0K -4.020M 280.0K
YoY Change -83.45% -14.47% -106.6%
FREE CASH FLOW
Cash From Operating Activities -$3.230M -$4.020M -$5.000M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$4.020M -$5.000M
YoY Change -18.95% 18.48%

Facts In Submission

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0.000 pure
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0.340 pure
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0.38
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0.0025 pure
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P10Y
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195661859 shares
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1948702 shares
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146560
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549730
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1850000
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0.00 pure
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103969
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CY2015 pvct Issuance Of Common Stock And Warrants Pursuant To Regulation D Value
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CY2015 pvct Reserve For Uncollectibility Of Settlement Receivable
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870578
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227750
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-21320
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0
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0.000 pure
CY2016 dei Entity Registrant Name
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PROVECTUS BIOPHARMACEUTICALS, INC.
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0
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10-K
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0000315545
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2016-12-31
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CY2016 us-gaap Conversion Of Stock Amount Converted1
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151944
CY2016 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
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0.194 pure
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CY2016 dei Document Fiscal Year Focus
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2016
CY2016 dei Amendment Flag
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false
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CY2016 dei Entity Current Reporting Status
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Yes
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15968949
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13112
CY2016 dei Document Fiscal Period Focus
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FY
CY2016 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
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671121
CY2016 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
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0
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159000
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0.000 pure
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0.340 pure
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0
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60000
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32699
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4751000
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8923570
CY2016 us-gaap Operating Loss Carryforwards Limitations On Use
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The Company completed a Section 382 study for the period 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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0
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2126
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0
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0
CY2016 us-gaap Nature Of Operations
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<div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>1. Business Organization and Nature of Operations</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Provectus Biopharmaceuticals, Inc., a Delaware corporation (together with its subsidiaries, &#x201C;Provectus&#x201D; or the &#x201C;Company&#x201D;), is a biopharmaceutical company that is focusing on developing minimally invasive products for the treatment of psoriasis and other topical diseases, and certain forms of cancer including melanoma, breast cancer, and cancers of the liver. To date, the Company has not generated any revenues from planned principal operations. The Company&#x2019;s activities are subject to significant risks and uncertainties, including failing to successfully develop and license or commercialize the Company&#x2019;s prescription drug candidates, or sell or license the Company&#x2019;s <font style="white-space:nowrap"><font style="white-space:nowrap">over-the-counter</font></font> (&#x201C;OTC&#x201D;) products or <font style="white-space:nowrap">non-core</font> technologies.</p> </div>
CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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0 shares
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <u>Use of 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, judgments 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 Company&#x2019;s significant estimates and assumptions include the collectability of long-term receivables, the recoverability and useful lives of long-lived assets, stock-based compensation, derivative liabilities and the valuation allowance related to the Company&#x2019;s deferred tax assets. Certain of the Company&#x2019;s estimates, including the carrying amount of the intangible assets, could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company&#x2019;s estimates and could cause actual results to differ from those estimates.</p> </div>
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20163
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500000
CY2016 dei Trading Symbol
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PVCT
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8543074
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0.08 pure
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0
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P4Y11M12D
CY2016 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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233849589 shares
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P1Y
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250000
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518875
CY2016 pvct Cash And Cash Equivalents Maximum Investments Maturity Period
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Three months or less
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57623
CY2016 pvct Litigation Settlement Payment Description
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The remaining cash settlement amounts will continue to be repaid to the Company over the next three years with the final payment to be received by October 3, 2019. $82,440 and $103,969 of the settlement discount was amortized during the year ended December 31, 2016 and 2015, respectively, which is included within general and administrative expenses on the consolidated statements of operations and within cash flows from operating activities on the consolidated statements of cash flows.
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0.00 pure
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82440
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3160114
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0.50 pure
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6000000
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2386453
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436248
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1549043
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445500
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95000
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4620000
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47000
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1000
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1000
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5045000
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CY2015Q4 us-gaap Earnings Per Share Basic And Diluted
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WeightedAverageNumberOfShareOutstandingBasicAndDiluted
204735000 shares
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.02
CY2016Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
182000
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
5183000
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-5001000
CY2016Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6449000
CY2016Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
293792000 shares

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