2018 Q2 Form 10-Q Financial Statement

#000156459018021024 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $64.00K $64.00K
YoY Change 0.0% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.123M $2.361M
YoY Change -10.08% 41.12%
% of Gross Profit
Research & Development $5.599M $4.448M
YoY Change 25.88% -33.2%
% of Gross Profit
Depreciation & Amortization $0.00 $40.00K
YoY Change -100.0% 300.0%
% of Gross Profit
Operating Expenses $7.722M $6.809M
YoY Change 13.41% -18.28%
Operating Profit -$6.745M
YoY Change -18.42%
Interest Expense $397.0K $360.0K
YoY Change 10.28%
% of Operating Profit
Other Income/Expense, Net -$3.099M $2.546M
YoY Change -221.72% 1718.57%
Pretax Income -$10.76M -$4.200M
YoY Change 156.19% -48.34%
Income Tax
% Of Pretax Income
Net Earnings -$10.76M -$4.199M
YoY Change 156.18% -48.34%
Net Earnings / Revenue -16807.81% -6560.94%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.299M -$1.628M
COMMON SHARES
Basic Shares Outstanding 25.80M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.20M $49.30M
YoY Change 11.97% -1.99%
Cash & Equivalents $6.769M $7.450M
Short-Term Investments $48.40M $41.90M
Other Short-Term Assets $1.300M $24.00K
YoY Change 5316.67% -60.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $56.51M $50.85M
YoY Change 11.12% -3.57%
LONG-TERM ASSETS
Property, Plant & Equipment $412.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $573.0K $652.0K
YoY Change -12.12% 53.05%
Total Long-Term Assets $1.593M $981.0K
YoY Change 62.39% 24.81%
TOTAL ASSETS
Total Short-Term Assets $56.51M $50.85M
Total Long-Term Assets $1.593M $981.0K
Total Assets $58.10M $51.84M
YoY Change 12.09% -3.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.600M $1.738M
YoY Change 49.6% 52.99%
Accrued Expenses $1.600M $1.329M
YoY Change 20.39% -54.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.500M $1.349M
YoY Change 307.71%
Total Short-Term Liabilities $13.15M $4.673M
YoY Change 181.49% 3.32%
LONG-TERM LIABILITIES
Long-Term Debt $9.400M $13.10M
YoY Change -28.26%
Other Long-Term Liabilities $9.000M $2.400M
YoY Change 275.0% -52.94%
Total Long-Term Liabilities $18.40M $13.10M
YoY Change 40.43% 156.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.15M $4.673M
Total Long-Term Liabilities $18.40M $13.10M
Total Liabilities $31.50M $20.18M
YoY Change 56.1% 109.13%
SHAREHOLDERS EQUITY
Retained Earnings -$189.3M
YoY Change 14.39%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.55M $31.66M
YoY Change
Total Liabilities & Shareholders Equity $58.10M $51.84M
YoY Change 12.09% -3.16%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$10.76M -$4.199M
YoY Change 156.18% -48.34%
Depreciation, Depletion And Amortization $0.00 $40.00K
YoY Change -100.0% 300.0%
Cash From Operating Activities -$7.900M -$7.380M
YoY Change 7.05% -17.91%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$11.93M -$6.970M
YoY Change 71.16% -44.11%
Cash From Investing Activities -$12.33M -$6.970M
YoY Change 76.9% -44.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -230.0K 1.880M
YoY Change -112.23% -91.18%
NET CHANGE
Cash From Operating Activities -7.900M -7.380M
Cash From Investing Activities -12.33M -6.970M
Cash From Financing Activities -230.0K 1.880M
Net Change In Cash -20.46M -12.47M
YoY Change 64.07% 7693.75%
FREE CASH FLOW
Cash From Operating Activities -$7.900M -$7.380M
Capital Expenditures -$400.0K $0.00
Free Cash Flow -$7.500M -$7.380M
YoY Change 1.63% -17.91%

Facts In Submission

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<div> <p style="margin-bottom:6pt;margin-top:6pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;text-indent:4.79%;">Concentration of Credit Risk</p> <p style="margin-bottom:6pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.79%;">Financial instruments, which potentially expose the Company to concentrations of credit risk, consist principally of cash on deposit and cash equivalents held with one bank which exceed FDIC insured limits and certain short-term investments. Ongoing credit evaluations of the customer&#8217;s financial condition are performed and independent credit ratings for the associated counterparties are reviewed by the Company and collateral is not required. The Company's money market fund investment (recognized as cash and cash equivalents) is with what the Company believes to be a high quality issuer. The Company has not experienced any losses in such account.</p></div>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.59
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.75
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.63
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.43
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
6.27
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.43
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M23D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M28D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y3M10D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y7M28D
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
151000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
12000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
10000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
12000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
468000
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
438000
CY2018Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2017Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2018Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2017Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3872000
scyx Derivative Fair Value Gain Loss From Mark To Market Adjustment
DerivativeFairValueGainLossFromMarkToMarketAdjustment
680000
CY2018Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
12173000

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