$SEELQ
SEELOS THERAPEUTICS, INC.

2024 Q2 Form 10-Q Financial Statement

#000141057824000773 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $376.0K $579.0K
YoY Change 11.9% -28.34%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.549M $3.109M
YoY Change -8.31% -23.65%
% of Gross Profit
Research & Development $966.0K $3.525M
YoY Change -88.65% -37.81%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.515M $6.634M
YoY Change -68.86% -31.89%
Operating Profit -$3.139M -$6.055M
YoY Change -71.34% -32.21%
Interest Expense -$23.00K $23.00K
YoY Change -428.57% 228.57%
% of Operating Profit
Other Income/Expense, Net $4.849M $3.391M
YoY Change -126.15% -175.37%
Pretax Income $1.710M -$2.664M
YoY Change -105.8% -80.17%
Income Tax
% Of Pretax Income
Net Earnings $1.710M -$2.664M
YoY Change -105.8% -80.17%
Net Earnings / Revenue 454.79% -460.1%
Basic Earnings Per Share $0.68 -$0.20
Diluted Earnings Per Share $0.12 -$0.20
COMMON SHARES
Basic Shares Outstanding 17.38M 13.68M
Diluted Shares Outstanding 2.515M 13.01M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $294.0K $524.0K
YoY Change -94.97% -96.27%
Cash & Equivalents $294.0K $524.0K
Short-Term Investments
Other Short-Term Assets $1.852M $2.058M
YoY Change -66.76% -76.43%
Inventory
Prepaid Expenses
Receivables $188.0K $968.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.334M $3.550M
YoY Change -80.3% -84.95%
LONG-TERM ASSETS
Property, Plant & Equipment $47.00K $62.00K
YoY Change 6.82% 6.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $47.00K $62.00K
YoY Change 6.82% 6.9%
TOTAL ASSETS
Total Short-Term Assets $2.334M $3.550M
Total Long-Term Assets $47.00K $62.00K
Total Assets $2.381M $3.612M
YoY Change -79.97% -84.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.69M $15.27M
YoY Change 143.68% 156.05%
Accrued Expenses $4.358M $4.524M
YoY Change -22.03% -19.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.11M $13.08M
YoY Change -18.07% 12.52%
Total Short-Term Liabilities $30.51M $36.72M
YoY Change -45.62% -6.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.51M $36.72M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $30.51M $36.72M
YoY Change -48.34% -17.12%
SHAREHOLDERS EQUITY
Retained Earnings -$253.6M -$255.3M
YoY Change -1.59% 11.88%
Common Stock $225.4M $222.2M
YoY Change 7.11% 7.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$28.13M -$33.10M
YoY Change
Total Liabilities & Shareholders Equity $2.381M $3.612M
YoY Change -79.97% -84.72%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $1.710M -$2.664M
YoY Change -105.8% -80.17%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$972.0K -$4.642M
YoY Change -83.54% -55.14%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 742.0K 2.170M
YoY Change -132.09% -75.55%
NET CHANGE
Cash From Operating Activities -972.0K -4.642M
Cash From Investing Activities
Cash From Financing Activities 742.0K 2.170M
Net Change In Cash -230.0K -2.472M
YoY Change -97.2% 67.71%
FREE CASH FLOW
Cash From Operating Activities -$972.0K -$4.642M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2024Q1 us-gaap Substantial Doubt About Going Concern Within One Year
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CY2024Q1 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The most significant estimates in the Company’s financial statements relate to the valuation of warrants, valuation of convertible notes payable, and the valuation of stock options. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected.</p>
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
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0
CY2024Q1 us-gaap Other Accrued Liabilities Current
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CY2023Q4 us-gaap Other Accrued Liabilities Current
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CY2024Q1 us-gaap Accrued Liabilities Current
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CY2024Q1 us-gaap Other Prepaid Expense Current
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CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
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CY2024Q1 us-gaap Accrued Professional Fees Current
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CY2024Q1 us-gaap Employee Related Liabilities Current
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CY2023Q4 us-gaap Employee Related Liabilities Current
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CY2024Q1 seel Outside Research And Development Services Current
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CY2024Q1 us-gaap Accrued Insurance Current
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CY2024Q1 us-gaap Long Term Debt
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CY2024Q1 us-gaap Preferred Stock Shares Authorized
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CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
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CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y25D
CY2024Q1 us-gaap Share Based Compensation
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CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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2000
CY2024Q1 us-gaap Operating Lease Liability
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CY2024Q1 us-gaap Operating Lease Expense
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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false

Files In Submission

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0001410578-24-000773-index.html Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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seel-20240331.xsd Edgar Link pending
seel-20240331x10q.htm Edgar Link pending
seel-20240331xex31d1.htm Edgar Link pending
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seel-20240331_def.xml Edgar Link unprocessable
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seel-20240331x10q_htm.xml Edgar Link completed
seel-20240331_cal.xml Edgar Link unprocessable