$RZLT
Rezolute, Inc.

2014 Q4 Form 10-Q Financial Statement

#000114420414066978 Filed on November 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.390M $1.780M $1.540M
YoY Change 107.46% 157.97% 52.48%
% of Gross Profit
Research & Development $1.566M $112.6K $30.00K
YoY Change
% of Gross Profit
Depreciation & Amortization $30.51K $27.40K $10.00K
YoY Change
% of Gross Profit
Operating Expenses $3.069M $2.235M $2.230M
YoY Change 372.07% 218.89% 120.79%
Operating Profit -$3.069M -$2.235M
YoY Change 372.07% 218.89%
Interest Expense $2.299K $500.00 $220.0K
YoY Change -99.63% -99.7% -1200.0%
% of Operating Profit
Other Income/Expense, Net $133.5K $20.43K
YoY Change -111.42% -117.22%
Pretax Income -$2.940M -$2.210M -$2.010M
YoY Change 61.54% 169.51% 95.15%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.936M -$2.215M -$2.010M
YoY Change 61.42% 170.24% 95.15%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$7.737M -$6.139M -$5.743M
COMMON SHARES
Basic Shares Outstanding 18.22M shares 18.09M shares 17.72M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.590M $4.300M $5.930M
YoY Change 653.51%
Cash & Equivalents $8.590M $4.300M $5.930M
Short-Term Investments
Other Short-Term Assets $66.79K $95.88K $83.43K
YoY Change 378.12% 90.92% -12.62%
Inventory $76.14K $301.9K $289.6K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.733M $4.696M $6.308M
YoY Change 369.72% 715.17% 673.41%
LONG-TERM ASSETS
Property, Plant & Equipment $1.178M $812.2K $337.9K
YoY Change 320.66% 190.06% 22.56%
Goodwill
YoY Change
Intangibles $9.161K
YoY Change
Long-Term Investments
YoY Change
Other Assets $750.0K $750.0K $750.0K
YoY Change
Total Long-Term Assets $1.987M $1.571M $1.097M
YoY Change 593.23% 446.38% 280.38%
TOTAL ASSETS
Total Short-Term Assets $8.733M $4.696M $6.308M
Total Long-Term Assets $1.987M $1.571M $1.097M
Total Assets $10.72M $6.267M $7.405M
YoY Change 399.57% 625.68% 570.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.060M $700.0K $460.3K
YoY Change 121.99% 71.2% 144.4%
Accrued Expenses $10.00K $10.00K $10.00K
YoY Change -98.33% -97.87% -97.37%
Deferred Revenue
YoY Change
Short-Term Debt $60.00K $60.00K $60.00K
YoY Change -98.39% -98.39% -98.39%
Long-Term Debt Due $90.00K $80.00K
YoY Change
Total Short-Term Liabilities $2.371M $892.9K $964.0K
YoY Change -63.75% -84.28% -81.69%
LONG-TERM LIABILITIES
Long-Term Debt $70.00K $100.0K $0.00
YoY Change
Other Long-Term Liabilities $464.0K $253.1K $33.88K
YoY Change
Total Long-Term Liabilities $534.7K $354.8K $33.88K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.371M $892.9K $964.0K
Total Long-Term Liabilities $534.7K $354.8K $33.88K
Total Liabilities $2.906M $1.248M $997.9K
YoY Change -55.56% -78.03% -81.05%
SHAREHOLDERS EQUITY
Retained Earnings -$22.90M -$17.75M
YoY Change
Common Stock $22.00K $18.22K $18.09K
YoY Change -44.99% -54.46% 171.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.817M $5.019M $6.407M
YoY Change
Total Liabilities & Shareholders Equity $10.72M $6.267M $7.405M
YoY Change 399.73% 625.68% 570.73%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income -$2.936M -$2.215M -$2.010M
YoY Change 61.42% 170.24% 95.15%
Depreciation, Depletion And Amortization $30.51K $27.40K $10.00K
YoY Change
Cash From Operating Activities -$1.740M -$1.470M -$2.100M
YoY Change 383.33% -40143.58% 813.04%
INVESTING ACTIVITIES
Capital Expenditures -$150.0K -$170.0K -$70.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$750.0K
YoY Change -100.0%
Cash From Investing Activities -$150.0K -$170.0K -$820.0K
YoY Change 1400.0% 4821.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.180M 0.000 3.210M
YoY Change 309.27% -2106.25%
NET CHANGE
Cash From Operating Activities -1.740M -1.470M -2.100M
Cash From Investing Activities -150.0K -170.0K -820.0K
Cash From Financing Activities 6.180M 0.000 3.210M
Net Change In Cash 4.290M -1.640M 290.0K
YoY Change 276.32% -755860.37% -174.36%
FREE CASH FLOW
Cash From Operating Activities -$1.740M -$1.470M -$2.100M
Capital Expenditures -$150.0K -$170.0K -$70.00K
Free Cash Flow -$1.590M -$1.300M -$2.030M
YoY Change 341.67% 782.61%

Facts In Submission

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CY2014Q3 antb Deferred Lease Liability
DeferredLeaseLiability
86441 USD
CY2013Q3 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
3671 USD
CY2014Q3 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1468605 USD
CY2013Q3 us-gaap Payments For Purchase Of Other Assets1
PaymentsForPurchaseOfOtherAssets1
0 USD
CY2014Q3 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
0 USD
CY2013Q3 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
217 USD
CY2014Q3 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
-1636642 USD
CY2013Q2 us-gaap Cash
Cash
527 USD
CY2013Q3 us-gaap Cash
Cash
744 USD
CY2013Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2013Q3 us-gaap Interest Paid
InterestPaid
0 USD
CY2014Q3 us-gaap Nature Of Operations
NatureOfOperations
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><u><font style="FONT-SIZE: 10pt">Note 1 Nature of Operations</font></u></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt">&#160;</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">These financial statements represent the consolidated financial statements of AntriaBio, Inc. (&#8220;AntriaBio&#8221;), formerly known as Fits My Style, Inc., and its wholly owned operating subsidiary, AntriaBio Delaware, Inc. (&#8220;Antria Delaware&#8221;). AntriaBio and Antria Delaware are collectively referred to herein as the &#8220;Company&#8221;.</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">&#160;</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">On January 31, 2013, AntriaBio, a public company, acquired Antria Delaware pursuant to a share exchange agreement in which the existing stockholders of Antria Delaware exchanged all of their issued and outstanding shares of common stock of Antria Delaware for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 5,880,667</font> shares of common stock of AntriaBio (the &#8220;Reverse Merger&#8221;). After the consummation of the Reverse Merger, stockholders of Antria Delaware owned <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 88.2</font>% of AntriaBio&#8217;s outstanding common stock.</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">&#160;</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">As a result of the Reverse Merger, Antria Delaware became a wholly owned subsidiary of AntriaBio. For accounting purposes, the Reverse Merger was treated as a reverse acquisition with Antria Delaware as the acquirer and AntriaBio as the acquired party. As a result, the business and financial information included in this Quarterly Report on Form 10-Q is the business and financial information of Antria Delaware. The accumulated deficit of AntriaBio has been included in additional paid-in-capital. Pro-forma information has not been presented as the financial information of AntriaBio was insignificant.</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">&#160;</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 style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Effective May 1, 2014, the Company effected a 6 to 1 reverse split of the Company&#8217;s common stock, in which for every six (6) shares of common stock combined into one (1) share of common stock.</font> All share and per share amounts have been retroactively restated to reflect the forward split.</font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014Q3 dei Document Type
DocumentType
10-Q
CY2014Q3 dei Amendment Flag
AmendmentFlag
false
CY2014Q3 dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
CY2014Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2014Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q3 dei Entity Registrant Name
EntityRegistrantName
AntriaBio, Inc.
CY2014Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2014Q3 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014Q3 dei Trading Symbol
TradingSymbol
ANTB
CY2014Q3 dei Entity Central Index Key
EntityCentralIndexKey
0001509261
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
18217793 shares
CY2014Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
33881 USD
CY2014Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
253068 USD
CY2014Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
33881 USD
CY2014Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
354763 USD
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6666667 shares
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
18133756 shares
CY2014Q3 antb Working Capital Deficit
WorkingCapitalDeficit
3818747 USD
CY2014Q3 antb Percentage Of Accrued Interest On Convertible Notes Payable
PercentageOfAccruedInterestOnConvertibleNotesPayable
0.08 pure
CY2014Q3 us-gaap Capital Lease Obligations
CapitalLeaseObligations
8060 USD
CY2013Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
400000 USD
CY2013Q1 antb Business Acquisition Purchases Price Allocation Assets Acquired
BusinessAcquisitionPurchasesPriceAllocationAssetsAcquired
100000 USD
CY2014Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
0 USD
CY2014Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
15984 USD
CY2014Q2 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
0 USD
CY2014Q3 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
83182 USD
CY2014Q2 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
0 USD
CY2014Q3 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
101695 USD
CY2014Q3 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
64483 USD
CY2014Q3 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
96725 USD
CY2014Q3 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
32242 USD
CY2014Q3 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
193450 USD

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