2013 Q4 Form 10-Q Financial Statement

#000101749113000005 Filed on November 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $362.0K $28.00K $4.895M
YoY Change -84.78% -99.43% 512.64%
Cost Of Revenue $60.00K $15.00K $1.591M
YoY Change -97.74% -99.06% 8031.45%
Gross Profit $299.0K $13.00K $3.304M
YoY Change -210.33% -99.61% 396.84%
Gross Profit Margin 82.6% 46.43% 67.5%
Selling, General & Admin $3.110M $2.870M $4.438M
YoY Change -38.17% -35.33% 95.39%
% of Gross Profit 1040.13% 22076.92% 134.33%
Research & Development $1.260M $919.0K $1.999M
YoY Change 7.69% -54.03% 221.73%
% of Gross Profit 421.4% 7069.23% 60.5%
Depreciation & Amortization $20.00K $20.00K $10.00K
YoY Change -106.45% 100.0% -88.89%
% of Gross Profit 6.69% 153.85% 0.3%
Operating Expenses $4.370M $3.176M $5.629M
YoY Change -29.4% -43.58% 94.59%
Operating Profit -$4.071M -$3.163M -$2.325M
YoY Change -36.99% 36.04% 4.35%
Interest Expense $2.490M -$174.0K -$73.00K
YoY Change 138.36% -8.75%
% of Operating Profit
Other Income/Expense, Net -$140.0K -$36.00K $42.00K
YoY Change -46.15% -185.71% 448.45%
Pretax Income -$1.640M -$3.200M -$2.856M
YoY Change -88.96% 12.04% 28.63%
Income Tax $0.00 $0.00 -$362.0K
% Of Pretax Income
Net Earnings -$1.345M -$2.985M -$2.494M
YoY Change -93.15% 19.69% 12.34%
Net Earnings / Revenue -371.55% -10660.71% -50.95%
Basic Earnings Per Share -$0.12
Diluted Earnings Per Share -$10.38M -$21.36M -$20.75M
COMMON SHARES
Basic Shares Outstanding 37.53M shares 36.98M shares 32.83M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.41M $20.62M $16.86M
YoY Change 41.51% 22.3% 89.86%
Cash & Equivalents $21.41M $20.62M $16.86M
Short-Term Investments
Other Short-Term Assets $460.0K $670.0K $5.640M
YoY Change -91.0% -88.12% 2156.0%
Inventory $336.0K $338.0K $450.1K
Prepaid Expenses
Receivables $59.00K $35.00K $3.807M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.26M $21.66M $26.75M
YoY Change 6.55% -19.02% 186.09%
LONG-TERM ASSETS
Property, Plant & Equipment $955.0K $549.0K $198.5K
YoY Change 58.9% 176.64% -95.48%
Goodwill $7.500M
YoY Change
Intangibles $3.709M
YoY Change
Long-Term Investments
YoY Change
Other Assets $91.00K $90.00K $1.311M
YoY Change -9.0% -93.13% 446.13%
Total Long-Term Assets $1.046M $639.0K $14.00M
YoY Change -64.95% -95.44% 202.39%
TOTAL ASSETS
Total Short-Term Assets $22.26M $21.66M $26.75M
Total Long-Term Assets $1.046M $639.0K $14.00M
Total Assets $23.31M $22.30M $40.75M
YoY Change -2.38% -45.27% 191.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $930.0K $620.0K $2.030M
YoY Change -59.21% -69.46% 33.55%
Accrued Expenses $2.119M $2.180M $6.230M
YoY Change -15.71% -65.01% 510.83%
Deferred Revenue
YoY Change
Short-Term Debt $2.600M $1.440M $4.000M
YoY Change -64.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.76M $8.400M $14.78M
YoY Change 9.23% -43.17% 411.41%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.100M $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $578.0K $127.0K $212.9K
YoY Change 194.9% -40.34% -73.72%
Total Long-Term Liabilities $578.0K $127.0K $212.9K
YoY Change 194.9% -40.34% -95.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.76M $8.400M $14.78M
Total Long-Term Liabilities $578.0K $127.0K $212.9K
Total Liabilities $12.34M $10.35M $17.21M
YoY Change -28.51% -39.84% 123.53%
SHAREHOLDERS EQUITY
Retained Earnings -$268.1M -$266.7M -$231.5M
YoY Change 6.74% 15.22%
Common Stock $279.0M $278.7M $255.0M
YoY Change 8.53% 9.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.97M $11.95M $23.54M
YoY Change
Total Liabilities & Shareholders Equity $23.31M $22.30M $40.75M
YoY Change -2.38% -45.27% 191.49%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$1.345M -$2.985M -$2.494M
YoY Change -93.15% 19.69% 12.34%
Depreciation, Depletion And Amortization $20.00K $20.00K $10.00K
YoY Change -106.45% 100.0% -88.89%
Cash From Operating Activities $1.130M -$4.330M -$2.900M
YoY Change -141.39% 49.31% 3.94%
INVESTING ACTIVITIES
Capital Expenditures -$450.0K $0.00 -$430.0K
YoY Change -4600.0% -100.0% 2050.0%
Acquisitions
YoY Change
Other Investing Activities $130.0K $170.0K $2.120M
YoY Change -136.11% -91.98%
Cash From Investing Activities -$320.0K $160.0K $1.690M
YoY Change -5.88% -90.53% -8550.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -30.00K 30.00K 10.00K
YoY Change -102.44% 200.0% -99.61%
NET CHANGE
Cash From Operating Activities 1.130M -4.330M -2.900M
Cash From Investing Activities -320.0K 160.0K 1.690M
Cash From Financing Activities -30.00K 30.00K 10.00K
Net Change In Cash 780.0K -4.140M -1.200M
YoY Change -142.39% 245.0% 361.54%
FREE CASH FLOW
Cash From Operating Activities $1.130M -$4.330M -$2.900M
Capital Expenditures -$450.0K $0.00 -$430.0K
Free Cash Flow $1.580M -$4.330M -$2.470M
YoY Change -157.66% 75.3% -10.83%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of these consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. The Company&#8217;s most significant estimates relate to the estimated fair value of future contingent consideration related to the acquisition of TopoTarget USA, Inc. and other acquisition or disposition related activities, whether revenue recognition criteria have been met, estimated costs to complete under its research contracts, the fair value of its embedded derivatives related to the convertible notes payable, and valuation allowances for the Company&#8217;s deferred tax benefit.&#160;The Company&#8217;s actual results may differ from these estimates under different assumptions or conditions.</font></div></div>
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2012Q1 apri Class Of Warrant Term
ClassOfWarrantTerm
P5Y
CY2013Q2 apri Class Of Warrant Term
ClassOfWarrantTerm
P5Y
CY2012Q4 apri Contractual Sales Price For Divestiture Of Business
ContractualSalesPriceForDivestitureOfBusiness
4100000 USD
CY2013Q3 apri Convertible Notes Current Unamortized Discount
ConvertibleNotesCurrentUnamortizedDiscount
59000 USD
CY2012Q4 apri Convertible Notes Current Unamortized Discount
ConvertibleNotesCurrentUnamortizedDiscount
59000 USD
CY2013Q3 apri Convertible Notes Noncurrent Unamortized Discount
ConvertibleNotesNoncurrentUnamortizedDiscount
148000 USD
CY2012Q4 apri Convertible Notes Noncurrent Unamortized Discount
ConvertibleNotesNoncurrentUnamortizedDiscount
587000 USD
CY2012Q4 apri Disposal Group Including Discontinued Operation Contingent Consideration Current
DisposalGroupIncludingDiscontinuedOperationContingentConsiderationCurrent
1328000 USD
CY2012Q4 apri Disposal Group Including Discontinued Operation Contingent Consideration Noncurrent
DisposalGroupIncludingDiscontinuedOperationContingentConsiderationNoncurrent
420000 USD
CY2012Q3 apri Disposal Group Including Discontinued Operation Nonoperating Income Expense
DisposalGroupIncludingDiscontinuedOperationNonoperatingIncomeExpense
197000 USD
apri Disposal Group Including Discontinued Operation Nonoperating Income Expense
DisposalGroupIncludingDiscontinuedOperationNonoperatingIncomeExpense
4000 USD
CY2013Q3 apri Disposal Group Including Discontinued Operation Nonoperating Income Expense
DisposalGroupIncludingDiscontinuedOperationNonoperatingIncomeExpense
0 USD
apri Disposal Group Including Discontinued Operation Nonoperating Income Expense
DisposalGroupIncludingDiscontinuedOperationNonoperatingIncomeExpense
0 USD
CY2012Q4 apri Disposal Group Including Discontinued Operation Product Warranty Accrual Classified Current
DisposalGroupIncludingDiscontinuedOperationProductWarrantyAccrualClassifiedCurrent
170000 USD
apri Increase Decreasein Deferred Rental Incomeand Other Noncurrent Assets
IncreaseDecreaseinDeferredRentalIncomeandOtherNoncurrentAssets
-1000 USD
apri Increase Decreasein Deferred Rental Incomeand Other Noncurrent Assets
IncreaseDecreaseinDeferredRentalIncomeandOtherNoncurrentAssets
436000 USD
apri Issuance Of Common Stock And Warrants Value
IssuanceOfCommonStockAndWarrantsValue
15820000 USD
CY2012Q4 apri Long Lived Assets Held For Sale Estimated Selling Cost
LongLivedAssetsHeldForSaleEstimatedSellingCost
500000 USD
apri Receivablefrom Buyer Upon Divestitureof Business
ReceivablefromBuyerUponDivestitureofBusiness
51000 USD
apri Receivablefrom Buyer Upon Divestitureof Business
ReceivablefromBuyerUponDivestitureofBusiness
0 USD
CY2012Q4 apri Research And Development Accrued Expense
ResearchAndDevelopmentAccruedExpense
564000 USD
CY2013Q3 apri Research And Development Accrued Expense
ResearchAndDevelopmentAccruedExpense
671000 USD
apri Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercisable Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableWeightedAverageRemainingContractualTerm
P3Y9M18D
apri Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Term One
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTermOne
P3Y9M18D
CY2013Q3 apri Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
6185492 shares
CY2013Q3 apri Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableWeightedAverageExercisePrice
4.01
apri Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisesInPeriodWeightedAverageExercisePrice
2.27
apri Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantsInPeriodWeightedAverageExercisePrice
3.40
CY2013Q3 apri Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
4.01
CY2012Q4 apri Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
4.56
apri Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instruments Forfeited Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsForfeitedWeightedAverageExercisePrice
0.00
CY2012 apri Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms1
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms1
P3Y9M18D
CY2012Q4 apri Short Term Liability Arising From Deconsolidation Of French Subsidiaries
ShortTermLiabilityArisingFromDeconsolidationOfFrenchSubsidiaries
0 USD
CY2013Q3 apri Short Term Liability Arising From Deconsolidation Of French Subsidiaries
ShortTermLiabilityArisingFromDeconsolidationOfFrenchSubsidiaries
2846000 USD
apri Stock Issued During Period Value Stock Warrants Exercised
StockIssuedDuringPeriodValueStockWarrantsExercised
46000 USD
CY2012Q1 apri Warrants Aggregate Grant Date Fair Value
WarrantsAggregateGrantDateFairValue
3700000 USD
CY2013Q2 apri Warrants Aggregate Grant Date Fair Value
WarrantsAggregateGrantDateFairValue
3300000 USD
CY2013Q2 apri Warrants Expected Volatility
WarrantsExpectedVolatility
0.70
CY2012Q1 apri Warrants Expected Volatility
WarrantsExpectedVolatility
0.700
CY2012Q1 apri Warrants Risk Free Interest Rate
WarrantsRiskFreeInterestRate
0.010
CY2013Q2 apri Warrants Risk Free Interest Rate
WarrantsRiskFreeInterestRate
0.010
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001017491
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
37533428 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
APRICUS BIOSCIENCES, INC.
dei Trading Symbol
TradingSymbol
APRI

Files In Submission

Name View Source Status
0001017491-13-000005-index-headers.html Edgar Link pending
0001017491-13-000005-index.html Edgar Link pending
0001017491-13-000005.txt Edgar Link pending
0001017491-13-000005-xbrl.zip Edgar Link pending
apri-20130930.xml Edgar Link completed
apri-20130930.xsd Edgar Link pending
apri-20130930_cal.xml Edgar Link unprocessable
apri-20130930_def.xml Edgar Link unprocessable
apri-20130930_lab.xml Edgar Link unprocessable
apri-20130930_pre.xml Edgar Link unprocessable
apri-2013930x10q.htm Edgar Link pending
apri-2013930xex311.htm Edgar Link pending
apri-2013930xex312.htm Edgar Link pending
apri-2013930xex321.htm Edgar Link pending
apri-2013930xex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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