2016 Q1 Form 10-Q Financial Statement

#000156459016018994 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $852.0K $815.0K
YoY Change 4.54% -40.81%
Cost Of Revenue $147.0K $56.00K
YoY Change 162.5% -38.46%
Gross Profit $705.0K $759.0K
YoY Change -7.11% -40.98%
Gross Profit Margin 82.75% 93.13%
Selling, General & Admin $3.436M $2.638M
YoY Change 30.25% 39.95%
% of Gross Profit 487.38% 347.56%
Research & Development $2.202M $1.832M
YoY Change 20.2% -7.61%
% of Gross Profit 312.34% 241.37%
Depreciation & Amortization $70.00K $70.00K
YoY Change 0.0% -22.22%
% of Gross Profit 9.93% 9.22%
Operating Expenses $5.785M $4.526M
YoY Change 27.82% 14.32%
Operating Profit -$4.933M -$3.711M
YoY Change 32.93% 43.73%
Interest Expense $327.0K $467.0K
YoY Change -29.98% 21.61%
% of Operating Profit
Other Income/Expense, Net $76.00K -$1.396M
YoY Change -105.44% 6547.62%
Pretax Income -$5.184M -$5.574M
YoY Change -7.0% 86.61%
Income Tax $10.00K $229.0K
% Of Pretax Income
Net Earnings -$5.190M -$5.803M
YoY Change -10.56% 66.94%
Net Earnings / Revenue -609.15% -712.02%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.348M -$2.661M
COMMON SHARES
Basic Shares Outstanding 44.22M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.19M $11.28M
YoY Change 344.95%
Cash & Equivalents $29.54M $11.28M
Short-Term Investments $20.65M
Other Short-Term Assets $1.330M $250.0K
YoY Change 432.0%
Inventory $320.0K $521.0K
Prepaid Expenses
Receivables $690.0K $150.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $52.54M $12.37M
YoY Change 324.63%
LONG-TERM ASSETS
Property, Plant & Equipment $660.0K $663.0K
YoY Change -0.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $14.91M $500.0K
YoY Change 2882.0%
Other Assets $2.010M $3.783M
YoY Change -46.87%
Total Long-Term Assets $17.57M $7.047M
YoY Change 149.33%
TOTAL ASSETS
Total Short-Term Assets $52.54M $12.37M
Total Long-Term Assets $17.57M $7.047M
Total Assets $70.11M $19.42M
YoY Change 261.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.00K $80.00K
YoY Change -87.5%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $4.360M
YoY Change -100.0%
Long-Term Debt Due $1.082M
YoY Change
Total Short-Term Liabilities $4.160M $12.06M
YoY Change -65.49%
LONG-TERM LIABILITIES
Long-Term Debt $24.98M $8.588M
YoY Change 190.85%
Other Long-Term Liabilities $5.490M $3.000M
YoY Change 83.0%
Total Long-Term Liabilities $24.98M $26.72M
YoY Change -6.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.160M $12.06M
Total Long-Term Liabilities $24.98M $26.72M
Total Liabilities $34.63M $38.78M
YoY Change -10.69%
SHAREHOLDERS EQUITY
Retained Earnings -$119.8M
YoY Change
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.48M -$91.88M
YoY Change
Total Liabilities & Shareholders Equity $70.11M $19.42M
YoY Change 261.02%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$5.190M -$5.803M
YoY Change -10.56% 66.94%
Depreciation, Depletion And Amortization $70.00K $70.00K
YoY Change 0.0% -22.22%
Cash From Operating Activities -$4.860M -$2.600M
YoY Change 86.92% 22.07%
INVESTING ACTIVITIES
Capital Expenditures $137.0K $7.000K
YoY Change 1857.14%
Acquisitions
YoY Change
Other Investing Activities $10.47M $0.00
YoY Change -100.0%
Cash From Investing Activities $10.33M -$10.00K
YoY Change -103400.0% -98.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.000K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 90.00K -2.690M
YoY Change -103.35% -627.45%
NET CHANGE
Cash From Operating Activities -4.860M -2.600M
Cash From Investing Activities 10.33M -10.00K
Cash From Financing Activities 90.00K -2.690M
Net Change In Cash 5.560M -5.300M
YoY Change -204.91% 128.45%
FREE CASH FLOW
Cash From Operating Activities -$4.860M -$2.600M
Capital Expenditures $137.0K $7.000K
Free Cash Flow -$4.997M -$2.607M
YoY Change 91.68%

Facts In Submission

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EntityIncorporationStateCountryName
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CY2016Q1 rkda Entity Incorporation Year Of Incorporation
EntityIncorporationYearOfIncorporation
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CY2016Q1 rkda Entity Reincorporation State Country Name
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At the closing of the IPO, all of the outstanding shares of convertible preferred stock and redeemable convertible preferred stock were automatically converted into 32,972,793 shares of common stock.
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CY2016Q1 rkda Maturity Of Long Term Investments
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CY2016Q1 us-gaap Variable Interest Entity Terms Of Arrangements
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Both the Company and Bioceres incur expenses in support of specific activities agreed, as defined by joint work plans, which apply fair market value to each partner’s activities. Unequal contributions of services are equalized by the partners through cash payments. Verdeca is not the primary obligor for these activities performed by the Company or Bioceres. An agreement executed in conjunction with the formation of Verdeca specified that if Bioceres determines it requires cash to fund its contributed services (subject to certain annual limits), Bioceres, S.A. may elect to sell shares of its common stock to the Company for an amount not exceeding $5.0 million in the aggregate over a four-year period.
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