$SKYE
Skye Bioscience, Inc.

2020 Q4 Form 10-K Financial Statement

#000164033421000483 Filed on March 02, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $948.9K $1.128M $4.395M
YoY Change -15.85% 4.41% 0.73%
% of Gross Profit
Research & Development $370.0K $715.9K $2.238M
YoY Change -48.32% 198.3% 578.24%
% of Gross Profit
Depreciation & Amortization $770.00 $360.00 $1.462K
YoY Change 113.89% -5.31%
% of Gross Profit
Operating Expenses $1.319M $1.844M $6.633M
YoY Change -28.46% 39.66% 41.34%
Operating Profit -$6.633M
YoY Change 41.34%
Interest Expense -$183.2K $7.421M $1.001M
YoY Change -102.47% -251.14% 956.02%
% of Operating Profit
Other Income/Expense, Net $7.686M
YoY Change -153.01%
Pretax Income -$1.502M $4.852M $1.053M
YoY Change -130.96% -178.01% -105.49%
Income Tax $0.00 $0.00 $1.600K
% Of Pretax Income 0.0% 0.15%
Net Earnings -$1.502M $4.852M $1.052M
YoY Change -130.96% -178.01% -105.48%
Net Earnings / Revenue
Basic Earnings Per Share $0.01
Diluted Earnings Per Share -$5.001K $34.18K -$0.05
COMMON SHARES
Basic Shares Outstanding 134.1M shares 135.2M shares
Diluted Shares Outstanding 169.6M shares

Balance Sheet

Concept 2020 Q4 2019 Q4 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.469M $1.830M $1.830M
YoY Change 34.94% -1.08% -1.26%
Cash & Equivalents $2.469M $1.830M $1.830M
Short-Term Investments
Other Short-Term Assets $275.00 $7.550K $164.8K
YoY Change -96.36% 189.38% 64.28%
Inventory
Prepaid Expenses $190.1K $152.7K
Receivables
Other Receivables
Total Short-Term Assets $2.664M $1.995M $1.995M
YoY Change 33.57% 2.1% 2.1%
LONG-TERM ASSETS
Property, Plant & Equipment $7.341K $1.983K $1.980K
YoY Change 270.2% -42.44% -42.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $7.341K $1.983K $1.980K
YoY Change 270.2% -42.44% -42.44%
TOTAL ASSETS
Total Short-Term Assets $2.664M $1.995M $1.995M
Total Long-Term Assets $7.341K $1.983K $1.980K
Total Assets $2.672M $1.997M $1.997M
YoY Change 33.8% 2.02% 2.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $364.3K $129.8K $139.8K
YoY Change 180.67% 732.27% 796.22%
Accrued Expenses $5.455K $77.94K
YoY Change -93.0% -56.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $64.06K
YoY Change
Total Short-Term Liabilities $787.2K $970.8K $970.8K
YoY Change -18.91% -93.91% -93.91%
LONG-TERM LIABILITIES
Long-Term Debt $1.434M $387.1K $387.1K
YoY Change 270.41% -71.54% -71.56%
Other Long-Term Liabilities $0.00 $90.80K $90.80K
YoY Change -100.0% -58.73% -58.62%
Total Long-Term Liabilities $1.434M $477.9K $477.9K
YoY Change 200.03% -69.76% -69.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $787.2K $970.8K $970.8K
Total Long-Term Liabilities $1.434M $477.9K $477.9K
Total Liabilities $2.221M $1.449M $1.449M
YoY Change 53.31% -91.73% -91.73%
SHAREHOLDERS EQUITY
Retained Earnings -$38.73M -$32.17M
YoY Change 20.39% -3.17%
Common Stock $39.18M $32.72M
YoY Change 19.75% 85.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $450.8K $548.1K $548.1K
YoY Change
Total Liabilities & Shareholders Equity $2.672M $1.997M $1.997M
YoY Change 33.8% 2.02% 2.02%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019
OPERATING ACTIVITIES
Net Income -$1.502M $4.852M $1.052M
YoY Change -130.96% -178.01% -105.48%
Depreciation, Depletion And Amortization $770.00 $360.00 $1.462K
YoY Change 113.89% -5.31%
Cash From Operating Activities -$1.786M -$1.503M -$6.028M
YoY Change 18.81% 48.83% 52.88%
INVESTING ACTIVITIES
Capital Expenditures -$7.230K $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$7.230K $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.919M
YoY Change -38.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 38.00K 2.014M $6.005M
YoY Change -98.11% 11.26% 8.37%
NET CHANGE
Cash From Operating Activities -1.786M -1.503M -$6.028M
Cash From Investing Activities -7.230K 0.000 0.000
Cash From Financing Activities 38.00K 2.014M $6.005M
Net Change In Cash -1.755M 510.6K -$23.37K
YoY Change -443.72% -36.17% -101.47%
FREE CASH FLOW
Cash From Operating Activities -$1.786M -$1.503M -$6.028M
Capital Expenditures -$7.230K $0.00 $0.00
Free Cash Flow -$1.779M -$1.503M -$6.028M
YoY Change 18.33% 48.83% 52.71%

Facts In Submission

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CY2020 skye Effective Income Tax Rate Reconciliation Nondeductible Expense Change In Fair Value Of Warrant
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseChangeInFairValueOfWarrant
-72549 USD
CY2019 skye Effective Income Tax Rate Reconciliation Nondeductible Expense Change In Fair Value Of Warrant
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseChangeInFairValueOfWarrant
-1874873 USD
CY2020 skye Income Tax Reconciliation Uncertain Tax Positions
IncomeTaxReconciliationUncertainTaxPositions
470838 USD
CY2019 skye Income Tax Reconciliation Uncertain Tax Positions
IncomeTaxReconciliationUncertainTaxPositions
436145 USD
CY2020 skye Income Tax Reconciliation Change In Compound Derivative
IncomeTaxReconciliationChangeInCompoundDerivative
0 USD
CY2019 skye Income Tax Reconciliation Change In Compound Derivative
IncomeTaxReconciliationChangeInCompoundDerivative
-101671 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
22657 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-1351 USD
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1383765 USD
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
3721 USD
CY2020Q4 skye Annual Maintenance Fee Payable
AnnualMaintenanceFeePayable
75000 USD
CY2020 skye Payment For Upfront Fees
PaymentForUpfrontFees
200000 USD
CY2020 skye Annual Fees For License Agreement
AnnualFeesForLicenseAgreement
200000 USD
CY2020 skye Warrants Vested And Outstanding
WarrantsVestedAndOutstanding
157513335 shares
CY2020 skye Gross Proceeds Of Warrant
GrossProceedsOfWarrant
6939667 USD
CY2020Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
61547 USD
CY2019Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
43830 USD
CY2020Q4 skye Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
93888 USD
CY2019Q4 skye Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
148006 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
57596 USD
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
92237 USD
CY2020Q4 skye Accrued Board Fees
AccruedBoardFees
40625 USD
CY2019Q4 skye Accrued Board Fees
AccruedBoardFees
58395 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5455 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
77938 USD

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