$SKYE
Skye Bioscience, Inc.

2023 Q3 Form 10-Q Financial Statement

#000151655123000044 Filed on August 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.240M $1.206M
YoY Change 96.39% -32.65%
% of Gross Profit
Research & Development $1.255M $1.788M
YoY Change -29.58% 25.31%
% of Gross Profit
Depreciation & Amortization $30.00K $33.92K
YoY Change 4.13% 22.54%
% of Gross Profit
Operating Expenses $24.71M $2.843M
YoY Change 745.43% -11.66%
Operating Profit -$24.71M -$2.843M
YoY Change 745.43% -11.66%
Interest Expense $271.3K $186.4K
YoY Change 28.44% -9.19%
% of Operating Profit
Other Income/Expense, Net -$240.1K -$264.9K
YoY Change 17.11% 35.31%
Pretax Income -$24.95M -$3.108M
YoY Change 697.68% -8.97%
Income Tax $0.00 $3.600K
% Of Pretax Income
Net Earnings -$24.95M -$3.112M
YoY Change 697.68% -9.0%
Net Earnings / Revenue
Basic Earnings Per Share -$3.17 $0.00
Diluted Earnings Per Share -$3.17 $0.00
COMMON SHARES
Basic Shares Outstanding 971.5M shares 971.5M shares
Diluted Shares Outstanding 7.881M shares 971.5M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.130M $836.4K
YoY Change 1134.98% -71.45%
Cash & Equivalents $5.126M $553.4K
Short-Term Investments
Other Short-Term Assets $867.9K $1.064M
YoY Change 503.31% 840.14%
Inventory
Prepaid Expenses $207.2K $270.5K
Receivables
Other Receivables
Total Short-Term Assets $15.29M $1.893M
YoY Change 469.68% -60.35%
LONG-TERM ASSETS
Property, Plant & Equipment $55.28K $64.40K
YoY Change -35.84% -14.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.309K $8.309K
YoY Change 0.0% 0.0%
Total Long-Term Assets $318.1K $343.3K
YoY Change 71.47% 77.36%
TOTAL ASSETS
Total Short-Term Assets $15.29M $1.893M
Total Long-Term Assets $318.1K $343.3K
Total Assets $15.60M $2.236M
YoY Change 443.93% -54.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.631M $1.552M
YoY Change -21.1% 7.52%
Accrued Expenses $1.280M $1.640M
YoY Change 52.01% 134.08%
Deferred Revenue
YoY Change
Short-Term Debt $4.170M $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $13.72M $9.817M
YoY Change 123.23% 87.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $190.0K $208.6K
YoY Change 2208.63% 543.4%
Total Long-Term Liabilities $190.0K $208.6K
YoY Change 2208.63% 543.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.72M $9.817M
Total Long-Term Liabilities $190.0K $208.6K
Total Liabilities $13.91M $10.03M
YoY Change 126.02% 90.26%
SHAREHOLDERS EQUITY
Retained Earnings -$99.96M -$75.02M
YoY Change 75.85% 39.65%
Common Stock $101.7M $67.23M
YoY Change 89.8% 25.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.695M -$7.789M
YoY Change
Total Liabilities & Shareholders Equity $15.60M $2.236M
YoY Change 443.93% -54.99%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$24.95M -$3.112M
YoY Change 697.68% -9.0%
Depreciation, Depletion And Amortization $30.00K $33.92K
YoY Change 4.13% 22.54%
Cash From Operating Activities -$4.060M -$1.992M
YoY Change 97.41% -31.34%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $0.00
YoY Change -102.73% -100.0%
Acquisitions
YoY Change
Other Investing Activities $1.080M $0.00
YoY Change
Cash From Investing Activities $1.070M $0.00
YoY Change -392.29% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 16.64M -123.4K
YoY Change -18216.49% 34.36%
NET CHANGE
Cash From Operating Activities -4.060M -1.992M
Cash From Investing Activities 1.070M 0.000
Cash From Financing Activities 16.64M -123.4K
Net Change In Cash 13.65M -2.115M
YoY Change -642.85% -31.26%
FREE CASH FLOW
Cash From Operating Activities -$4.060M -$1.992M
Capital Expenditures $10.00K $0.00
Free Cash Flow -$4.070M -$1.992M
YoY Change 140.75% -29.29%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Security12g Title
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dei Trading Symbol
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dei Entity Filer Category
EntityFilerCategory
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EntitySmallBusiness
true
dei Entity Emerging Growth Company
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false
dei Entity Shell Company
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<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Unaudited Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of </span></div>contingent assets and liabilities at the date of the Unaudited Condensed Consolidated Financial Statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates. The most significant accounting estimates inherent in the preparation of the Company’s financial statements include estimates and judgements as to the appropriate carrying values of equity instruments, debt with embedded features, estimates related to the Company's estimation of the percentage of completion under its research and development contracts, contingent legal liabilities, fair value of assets acquired, and the valuation of stock based compensation awards, which are not readily apparent from other sources.
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CY2023Q2 us-gaap Operating Lease Cost
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CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q2 us-gaap Operating Lease Liability
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CY2023Q2 skye Loss Contingency Net Cash Received To Cover Legal Expenses
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5000000 usd

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