2017 Q2 Form 10-Q Financial Statement

#000114420417027380 Filed on May 15, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 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 $3.060M $1.850M $1.170M
YoY Change 161.54% 40.15% -33.52%
% of Gross Profit
Research & Development $3.090M $3.439M $2.650M
YoY Change 16.6% 48.87% 107.03%
% of Gross Profit
Depreciation & Amortization $280.0K $282.8K $260.0K
YoY Change 7.69% 10.31% 420.0%
% of Gross Profit
Operating Expenses $6.220M $5.391M $3.870M
YoY Change 60.72% 45.09% 25.24%
Operating Profit -$5.391M
YoY Change 45.09%
Interest Expense $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net $30.00K $6.098K
YoY Change 31.42%
Pretax Income -$6.190M -$5.380M -$3.870M
YoY Change 59.95% 45.01% 27.3%
Income Tax
% Of Pretax Income
Net Earnings -$6.190M -$5.385M -$3.870M
YoY Change 59.95% 45.1% 27.3%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$6.585M -$6.405M -$7.442M
COMMON SHARES
Basic Shares Outstanding 47.68M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.490M $4.440M $4.060M
YoY Change 10.59% 153.71% -23.11%
Cash & Equivalents $4.490M $4.440M $4.060M
Short-Term Investments
Other Short-Term Assets $442.0K $410.0K $430.1K
YoY Change 2.77% 41.38% 34.28%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $4.929M $4.850M $4.492M
YoY Change 9.72% 137.73% -26.56%
LONG-TERM ASSETS
Property, Plant & Equipment $5.325M $5.460M $5.985M
YoY Change -11.02% -10.93% 32.26%
Goodwill
YoY Change
Intangibles $44.32K $46.15K $51.61K
YoY Change -14.13%
Long-Term Investments
YoY Change
Other Assets $330.0K $63.23K $0.00
YoY Change -88.71% -100.0%
Total Long-Term Assets $5.700M $5.945M $6.411M
YoY Change -11.09% -11.92% 24.57%
TOTAL ASSETS
Total Short-Term Assets $4.929M $4.850M $4.492M
Total Long-Term Assets $5.700M $5.945M $6.411M
Total Assets $10.63M $10.80M $10.90M
YoY Change -2.52% 22.81% -3.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.650M $1.890M $1.500M
YoY Change 10.0% -12.9% 6.38%
Accrued Expenses $0.00 $0.00 $20.00K
YoY Change -100.0% -100.0% 100.0%
Deferred Revenue
YoY Change
Short-Term Debt $10.00K $10.00K $60.00K
YoY Change -83.33% -83.33% 0.0%
Long-Term Debt Due $0.00 $0.00 $20.00K
YoY Change -100.0% -100.0% -77.78%
Total Short-Term Liabilities $1.771M $2.020M $1.731M
YoY Change 2.36% -16.52% 1.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $304.6K $314.7K $400.0K
YoY Change -23.86% -26.82% -16.66%
Total Long-Term Liabilities $329.6K $314.7K $400.0K
YoY Change -17.6% -26.82% -20.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.771M $2.020M $1.731M
Total Long-Term Liabilities $329.6K $314.7K $400.0K
Total Liabilities $2.101M $2.335M $2.131M
YoY Change -1.39% -18.08% -3.57%
SHAREHOLDERS EQUITY
Retained Earnings -$64.32M -$58.13M -$44.04M
YoY Change 46.04% 51.31%
Common Stock $49.23K $45.45K $35.11K
YoY Change 40.2% 44.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.528M $8.460M $8.773M
YoY Change
Total Liabilities & Shareholders Equity $10.63M $10.80M $10.90M
YoY Change -2.52% 22.81% -3.19%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q2
OPERATING ACTIVITIES
Net Income -$6.190M -$5.385M -$3.870M
YoY Change 59.95% 45.1% 27.3%
Depreciation, Depletion And Amortization $280.0K $282.8K $260.0K
YoY Change 7.69% 10.31% 420.0%
Cash From Operating Activities -$3.640M -$3.610M -$3.150M
YoY Change 15.56% 42.13% 60.71%
INVESTING ACTIVITIES
Capital Expenditures -$110.0K -$30.00K -$320.0K
YoY Change -65.63% -94.12% -85.65%
Acquisitions
YoY Change
Other Investing Activities $20.00K $0.00 $0.00
YoY Change
Cash From Investing Activities -$90.00K -$20.00K -$310.0K
YoY Change -70.97% -96.15% -86.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.770M 4.500M 5.790M
YoY Change -34.89% 45.63% 363.2%
NET CHANGE
Cash From Operating Activities -3.640M -3.610M -3.150M
Cash From Investing Activities -90.00K -20.00K -310.0K
Cash From Financing Activities 3.770M 4.500M 5.790M
Net Change In Cash 40.00K 870.0K 2.330M
YoY Change -98.28% 2800.0% -179.25%
FREE CASH FLOW
Cash From Operating Activities -$3.640M -$3.610M -$3.150M
Capital Expenditures -$110.0K -$30.00K -$320.0K
Free Cash Flow -$3.530M -$3.580M -$2.830M
YoY Change 24.73% 76.35% -1148.15%

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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2017Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
12915327 USD
CY2016 antb Fair Value Of Warrants
FairValueOfWarrants
11955 USD
antb Fair Value Of Warrants
FairValueOfWarrants
438 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2017-03-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
AntriaBio, Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0001509261
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Trading Symbol
TradingSymbol
ANTB
CY2017Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
47678640 shares
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
63233 USD
CY2016Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
0 USD
CY2016Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2017Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
45452450 shares
CY2017Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
45452450 shares
CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
35110916 shares
CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
35110916 shares
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9000403 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6802332 USD
CY2017Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1951602 USD
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1405286 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5103221 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4279278 USD
antb Warrant Modification Deemed Dividend
WarrantModificationDeemedDividend
-3366070 USD
CY2017Q1 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
5306 USD
CY2016Q1 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
0 USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
5306 USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
0 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8750669 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3772114 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-17454466 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11125961 USD
CY2017Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
CY2016Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
61279 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
61279 USD
CY2017Q1 antb Warrant Modification Deemed Dividend
WarrantModificationDeemedDividend
-3366070 USD
CY2016Q1 antb Warrant Modification Deemed Dividend
WarrantModificationDeemedDividend
0 USD
antb Warrant Modification Deemed Dividend
WarrantModificationDeemedDividend
0 USD
antb Adjustments To Additional Paid In Capital Warrant Modification
AdjustmentsToAdditionalPaidInCapitalWarrantModification
-3366070 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
5347615 USD
antb Warrantvaluerecordedasdebtdiscount
Warrantvaluerecordedasdebtdiscount
3366070 USD
antb Warrantvaluerecordedasdebtdiscount
Warrantvaluerecordedasdebtdiscount
0 USD
us-gaap Stock Issued1
StockIssued1
0 USD
us-gaap Stock Issued1
StockIssued1
61279 USD
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;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>Note 1 Nature of Operations</u></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b>&#160;</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify">These financial statements represent the consolidated financial statements of AntriaBio, Inc. (&#8220;AntriaBio&#8221;), and its wholly owned operating subsidiaries, AntriaBio Delaware, Inc. (&#8220;Antria Delaware&#8221;) and AntriaBio Korea (&#8220;Antria Korea&#8221;). AntriaBio, Antria Delaware, and Antria Korea are collectively referred to herein as the &#8220;Company&#8221;.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Use Of Estimates
UseOfEstimates
<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><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Use of Estimates</strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><strong>&#160;</strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify">The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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: estimated useful lives and impairment 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.</div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q2 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
11955 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7169622 USD
CY2016Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6863920 USD
CY2015Q4 us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
The Series A Stock had a conversion feature at the option of the holder that could be converted at any time at a conversion rate of $1.95, subject to adjustment, into common stock. The shares also had a mandatory conversion feature at the same conversion rate if one of the following events occurs: 1) Upon vote or consent of 2/3 of the then outstanding Series A Stock; 2) Upon the Companys listing to NASDAQ Stockmarket or the NYSE MKT and the Companys common stock trades for 30 days for at least 155% of the Series A Stock conversion price; or 3) the Company closes an underwritten public offering of at least $15 million in gross proceeds with an offering price of at least 155% of the Series A Stock conversion price. The Series A Stocks conversion price was subject to weighted average anti-dilution protection, as defined, and was subject to adjustments for stock splits, dividends, and similar events.
CY2017Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.65
CY2017Q1 antb Warrants To Purchase Common Stock Value
WarrantsToPurchaseCommonStockValue
15474883 USD
antb Warrants Expired To Purchase Of Common Stock
WarrantsExpiredToPurchaseOfCommonStock
307261 shares
CY2017Q1 antb Operating Leases Future Minimum Payments Remainder Of Fiscal Year Gross
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYearGross
170673 USD
CY2017Q1 antb Operating Leases Future Minimum Payments Due In Two Years Gross
OperatingLeasesFutureMinimumPaymentsDueInTwoYearsGross
691422 USD
CY2017Q1 antb Operating Leases Future Minimum Payments Due In Three Years Gross
OperatingLeasesFutureMinimumPaymentsDueInThreeYearsGross
712360 USD
CY2017Q1 antb Operating Leases Future Minimum Payments Due In Four Years Gross
OperatingLeasesFutureMinimumPaymentsDueInFourYearsGross
664696 USD
CY2017Q1 antb Operating Leases Future Minimum Payments Due In Five Years Gross
OperatingLeasesFutureMinimumPaymentsDueInFiveYearsGross
338392 USD
CY2017Q1 antb Operating Leases Future Minimum Payments Due Thereafter Gross
OperatingLeasesFutureMinimumPaymentsDueThereafterGross
917200 USD
CY2017Q1 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Remainder Of Fiscal Year
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsRemainderOfFiscalYear
37570 USD
CY2017Q1 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Within Two Years
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinTwoYears
152005 USD
CY2017Q1 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Within Three Years
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinThreeYears
157187 USD
CY2017Q1 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Within Four Years
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFourYears
148551 USD
CY2017Q1 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Within Five Years
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFiveYears
0 USD
CY2017Q1 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Thereafter
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsThereafter
0 USD
CY2017Q1 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions
FutureMinimumSubleaseRentalsSaleLeasebackTransactions
495313 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
133103 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
539417 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
555173 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
516145 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
338392 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
917200 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1743838 USD
CY2017Q1 antb Operating Leases Future Minimum Payments Due Gross
OperatingLeasesFutureMinimumPaymentsDueGross
2239151 USD
CY2014Q2 us-gaap Area Of Land
AreaOfLand
27000 sqft
CY2014Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
28939 USD
CY2014Q2 antb Payments Of Monthly Lease Adjusted Annually Percentage
PaymentsOfMonthlyLeaseAdjustedAnnuallyPercentage
0.03 pure
CY2014Q2 us-gaap Proceeds From Other Deposits
ProceedsFromOtherDeposits
375000 USD
CY2014Q2 antb Adjusted Triple Net Expense Of Lease Payments
AdjustedTripleNetExpenseOfLeasePayments
34381 USD
CY2014Q2 us-gaap Security Deposit
SecurityDeposit
750000 USD

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