2015 Q2 Form 10-K Financial Statement

#000114420415057284 Filed on September 28, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 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 $1.760M $6.870M $1.540M
YoY Change 14.29% 53.69% 52.48%
% of Gross Profit
Research & Development $1.280M $4.701M $30.00K
YoY Change 4166.67% 13599.36%
% of Gross Profit
Depreciation & Amortization $50.00K $128.9K $10.00K
YoY Change 400.0% 1560.91%
% of Gross Profit
Operating Expenses $3.090M $10.70M $2.230M
YoY Change 38.57% 106.68% 120.79%
Operating Profit -$10.70M
YoY Change 106.68%
Interest Expense $50.00K $6.729K $220.0K
YoY Change -77.27% -99.84% -1200.0%
% of Operating Profit
Other Income/Expense, Net -$664.5K
YoY Change -85.41%
Pretax Income -$3.040M -$11.36M -$2.010M
YoY Change 51.24% 16.75% 95.15%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.040M -$11.36M -$2.010M
YoY Change 51.24% 16.77% 95.15%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$6.204M -$27.05M -$5.743M
COMMON SHARES
Basic Shares Outstanding 24.34M shares 17.72M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.280M $5.280M $5.930M
YoY Change -10.96% -10.96%
Cash & Equivalents $5.280M $5.280M $5.930M
Short-Term Investments
Other Short-Term Assets $320.3K $770.0K $83.43K
YoY Change 283.93% 862.5% -12.62%
Inventory $67.22K $70.00K $289.6K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.116M $6.120M $6.308M
YoY Change -3.03% -3.01% 673.41%
LONG-TERM ASSETS
Property, Plant & Equipment $4.525M $4.520M $337.9K
YoY Change 1239.0% 1229.41% 22.56%
Goodwill
YoY Change
Intangibles $9.161K
YoY Change
Long-Term Investments
YoY Change
Other Assets $560.0K $560.0K $750.0K
YoY Change -25.33% -25.33%
Total Long-Term Assets $5.147M $5.140M $1.097M
YoY Change 369.13% 371.56% 280.38%
TOTAL ASSETS
Total Short-Term Assets $6.116M $6.120M $6.308M
Total Long-Term Assets $5.147M $5.140M $1.097M
Total Assets $11.26M $11.26M $7.405M
YoY Change 52.11% 52.16% 570.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.410M $1.410M $460.3K
YoY Change 206.31% 63.95% 144.4%
Accrued Expenses $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0% -97.37%
Deferred Revenue
YoY Change
Short-Term Debt $60.00K $60.00K $60.00K
YoY Change 0.0% 0.0% -98.39%
Long-Term Debt Due $90.00K $90.00K
YoY Change
Total Short-Term Liabilities $1.710M $1.710M $964.0K
YoY Change 77.38% 78.13% -81.69%
LONG-TERM LIABILITIES
Long-Term Debt $20.00K $20.00K $0.00
YoY Change
Other Long-Term Liabilities $480.0K $480.0K $33.88K
YoY Change 1316.72% 1500.0%
Total Long-Term Liabilities $503.6K $500.0K $33.88K
YoY Change 1386.43% 1566.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.710M $1.710M $964.0K
Total Long-Term Liabilities $503.6K $500.0K $33.88K
Total Liabilities $2.209M $2.210M $997.9K
YoY Change 121.4% 121.0% -81.05%
SHAREHOLDERS EQUITY
Retained Earnings -$29.11M -$17.75M
YoY Change 64.02%
Common Stock $24.34K $18.09K
YoY Change 34.54% 171.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.054M $9.050M $6.407M
YoY Change
Total Liabilities & Shareholders Equity $11.26M $11.26M $7.405M
YoY Change 52.11% 52.16% 570.73%

Cashflow Statement

Concept 2015 Q2 2015 2014 Q2
OPERATING ACTIVITIES
Net Income -$3.040M -$11.36M -$2.010M
YoY Change 51.24% 16.77% 95.15%
Depreciation, Depletion And Amortization $50.00K $128.9K $10.00K
YoY Change 400.0% 1560.91%
Cash From Operating Activities -$1.960M -$7.080M -$2.100M
YoY Change -6.67% 123.34% 813.04%
INVESTING ACTIVITIES
Capital Expenditures -$2.230M -$3.160M -$70.00K
YoY Change 3085.71% 4414.29%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$450.0K -$750.0K
YoY Change -100.0% -40.79%
Cash From Investing Activities -$2.230M -$3.610M -$820.0K
YoY Change 171.95% 334.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.250M 10.04M 3.210M
YoY Change -61.06% 1.11% -2106.25%
NET CHANGE
Cash From Operating Activities -1.960M -7.080M -2.100M
Cash From Investing Activities -2.230M -3.610M -820.0K
Cash From Financing Activities 1.250M 10.04M 3.210M
Net Change In Cash -2.940M -650.0K 290.0K
YoY Change -1113.79% -110.96% -174.36%
FREE CASH FLOW
Cash From Operating Activities -$1.960M -$7.080M -$2.100M
Capital Expenditures -$2.230M -$3.160M -$70.00K
Free Cash Flow $270.0K -$3.920M -$2.030M
YoY Change -113.3% 26.45% 782.61%

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CY2014 antb Stock Issued During Period Value Related Party
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0 USD
CY2014 us-gaap Payments For Deposits
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750000 USD
CY2015 us-gaap Repayments Of Notes Payable
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0 USD
CY2014 us-gaap Repayments Of Notes Payable
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CY2015 us-gaap Nature Of Operations
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<div style="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"></div> <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">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. All share and per share amounts have been retroactively restated to reflect the reverse split.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015 us-gaap Use Of Estimates
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<div style="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"></div> <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"> Accounting Estimates</font></i></strong> <font style="FONT-SIZE: 10pt">- The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and the accompanying notes. Such estimates and assumptions impact, among others, the following: the useful lives of depreciable assets, the fair value of share-based payments and warrants, fair value of derivative instruments, estimates of the probability and potential magnitude of contingent liabilities and the valuation allowance for deferred tax assets due to continuing and expected future operating losses. Actual results could differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015 us-gaap Prior Period Reclassification Adjustment Description
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CY2014Q2 us-gaap Financial Instruments Owned At Fair Value
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CY2015 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
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An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained.
CY2014Q2 us-gaap Property Plant And Equipment Gross
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345691 USD
CY2015Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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136629 USD
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2011Q3 antb Line Of Credit Issued To Related Party
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CY2014Q1 us-gaap Due From Related Parties
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CY2015Q2 us-gaap Due From Related Parties
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0 USD
CY2014Q2 us-gaap Due From Related Parties
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CY2015 antb Additional Warrants Issued
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CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
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CY2015 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2014 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 USD
CY2014 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 USD
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 USD
CY2014 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 USD
CY2015 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3774110 USD
CY2014 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
2006831 USD
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
432091 USD
CY2014 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
79548 USD
CY2015 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
4206202 USD
CY2014 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
2086379 USD
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2015Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5170221 USD
CY2014Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2267379 USD
CY2015Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
181154 USD
CY2014Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
457495 USD
CY2015Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3080604 USD
CY2014Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1683247 USD
CY2015Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Other
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsOther
12275 USD
CY2014Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Other
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsOther
129986 USD
CY2015Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
317149 USD
CY2014Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
17093 USD
CY2015Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
8761404 USD
CY2014Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4555200 USD
CY2015Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
8761404 USD
CY2014Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4555200 USD
CY2015Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2014Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2015 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-3863260 USD
CY2014 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-3308354 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-432091 USD
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-79549 USD
CY2015 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
229208 USD
CY2014 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
1301524 USD
CY2015 antb Operating Loss Carry Forwards Expiration Year
OperatingLossCarryForwardsExpirationYear
2031
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34 pure
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1839682 USD
CY2015 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
166668 shares
CY2015 antb Facilities And Other Costs
FacilitiesAndOtherCosts
534862 USD
CY2014 antb Facilities And Other Costs
FacilitiesAndOtherCosts
0 USD
CY2015 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
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.
CY2015 antb Warrant Reclassified To Equity
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2342039 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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7292 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
7292 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
7292 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
7292 USD
CY2015Q2 antb Class Of Warrant Exercisable Warrants Or Rights
ClassOfWarrantExercisableWarrantsOrRights
6000 shares
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2014 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2015 us-gaap Interest Paid
InterestPaid
0 USD
CY2014 us-gaap Interest Paid
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15726 USD
CY2015 antb Conversionofconvertiblenotespayabletocommonstock
Conversionofconvertiblenotespayabletocommonstock
0 USD
CY2014 antb Conversionofconvertiblenotespayabletocommonstock
Conversionofconvertiblenotespayabletocommonstock
6308000 USD
CY2015 antb Conversionofaccountspayableandaccruedexpenserelatedparty
Conversionofaccountspayableandaccruedexpenserelatedparty
0 USD
CY2014 antb Conversionofaccountspayableandaccruedexpenserelatedparty
Conversionofaccountspayableandaccruedexpenserelatedparty
275000 USD
CY2015 us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
0 USD
CY2014 us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
2922938 USD
CY2015 antb Conversionofinterestpayabletocommonstock
Conversionofinterestpayabletocommonstock
0 USD
CY2014 antb Conversionofinterestpayabletocommonstock
Conversionofinterestpayabletocommonstock
722587 USD
CY2015 antb Warrantvaluerecordedasdebtdiscount
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0 USD
CY2014 antb Warrantvaluerecordedasdebtdiscount
Warrantvaluerecordedasdebtdiscount
433062 USD
CY2015 antb Warrant Derivative Liability Reclassified As Equity
WarrantDerivativeLiabilityReclassifiedAsEquity
2342039 USD
CY2014 antb Warrant Derivative Liability Reclassified As Equity
WarrantDerivativeLiabilityReclassifiedAsEquity
1407739 USD
CY2015 antb Warrant Value Recorded As Issuance Cost
WarrantValueRecordedAsIssuanceCost
1745498 USD
CY2014 antb Warrant Value Recorded As Issuance Cost
WarrantValueRecordedAsIssuanceCost
898719 USD
CY2015Q2 us-gaap Operating Loss Carryforwards
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6281000 USD
CY2015Q2 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
13265000 USD
CY2015 antb Warrants Recorded As Derivative Liability
WarrantsRecordedAsDerivativeLiability
1675498 USD
CY2015 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-140059 USD
CY2014 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
0 USD

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