$SLNO
SOLENO THERAPEUTICS INC

2015 Q4 Form 10-Q Financial Statement

#000119312515375687 Filed on November 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q4
Revenue $240.0K $247.0K $0.00
YoY Change
Cost Of Revenue $260.0K $56.00K
YoY Change
Gross Profit -$20.00K $191.0K
YoY Change
Gross Profit Margin -8.33% 77.33%
Selling, General & Admin $2.210M $2.181M $1.240M
YoY Change 78.23% 259.9% 520.0%
% of Gross Profit 1141.88%
Research & Development $1.280M $1.193M $610.0K
YoY Change 109.84% 66.39% 69.44%
% of Gross Profit 624.61%
Depreciation & Amortization $60.00K $30.00K $10.00K
YoY Change 500.0% 200.0% 0.0%
% of Gross Profit 15.71%
Operating Expenses $3.490M $3.374M $1.850M
YoY Change 88.65% 155.03% 230.36%
Operating Profit -$3.510M -$3.183M
YoY Change 140.59%
Interest Expense $0.00 $0.00 -$2.320M
YoY Change -100.0% -100.0% 494.87%
% of Operating Profit
Other Income/Expense, Net $660.0K -$110.0K -$3.690M
YoY Change -117.89% -89.72% 12200.0%
Pretax Income -$2.840M -$3.290M -$7.860M
YoY Change -63.87% 37.66% 710.31%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.840M -$3.293M -$7.860M
YoY Change -63.87% 37.61% 710.31%
Net Earnings / Revenue -1183.33% -1333.2%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.080M -$1.637M -$31.44M
COMMON SHARES
Basic Shares Outstanding 12.37M shares 7.981M shares 6.769M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.490M $4.720M $7.960M
YoY Change -31.03% 7766.67% 526.77%
Cash & Equivalents $5.495M $4.720M $7.957M
Short-Term Investments
Other Short-Term Assets $210.0K $340.0K $270.0K
YoY Change -22.22% 61.9% 145.45%
Inventory $551.0K $376.0K $109.3K
Prepaid Expenses
Receivables $156.1K $94.00K $0.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.404M $5.526M $8.338M
YoY Change -23.19% 1700.0% 447.3%
LONG-TERM ASSETS
Property, Plant & Equipment $85.75K $98.00K $57.61K
YoY Change 48.84% 172.22% -8.8%
Goodwill $916.8K $718.0K $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $718.0K $0.00
YoY Change
Total Long-Term Assets $1.797M $1.762M $57.61K
YoY Change 3019.23% 26.85% -8.8%
TOTAL ASSETS
Total Short-Term Assets $6.404M $5.526M $8.338M
Total Long-Term Assets $1.797M $1.762M $57.61K
Total Assets $8.201M $7.288M $8.396M
YoY Change -2.32% 329.72% 429.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $695.1K $953.0K $986.8K
YoY Change -29.56% -23.02% 1609.6%
Accrued Expenses $1.630M $1.220M $200.0K
YoY Change 715.0% 240.78% 55.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $100.0K
YoY Change -100.0% -99.29%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.193M $6.028M $1.290M
YoY Change 147.54% 277.69% -90.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $109.4K $151.0K $0.00
YoY Change -99.19% -100.0%
Total Long-Term Liabilities $109.4K $2.551M $18.30M
YoY Change -99.4% -86.34% 1153.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.193M $6.028M $1.290M
Total Long-Term Liabilities $109.4K $2.551M $18.30M
Total Liabilities $4.977M $8.579M $19.59M
YoY Change -74.59% -57.68% 25.23%
SHAREHOLDERS EQUITY
Retained Earnings -$86.25M -$83.40M -$70.34M
YoY Change 22.62% 32.13% 23.18%
Common Stock $89.47M $82.11M $59.15M
YoY Change 51.26% 295.87% 207.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.224M -$1.291M -$11.19M
YoY Change
Total Liabilities & Shareholders Equity $8.201M $7.288M $8.396M
YoY Change -2.32% 329.72% 429.15%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income -$2.840M -$3.293M -$7.860M
YoY Change -63.87% 37.61% 710.31%
Depreciation, Depletion And Amortization $60.00K $30.00K $10.00K
YoY Change 500.0% 200.0% 0.0%
Cash From Operating Activities -$3.380M -$2.860M -$1.550M
YoY Change 118.06% 126.98% 112.33%
INVESTING ACTIVITIES
Capital Expenditures $140.0K -$180.0K -$30.00K
YoY Change -566.67%
Acquisitions
YoY Change
Other Investing Activities -$180.0K -$1.070M
YoY Change
Cash From Investing Activities -$30.00K -$1.260M -$30.00K
YoY Change 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.190M 1.310M 9.480M
YoY Change -55.8% 1090.91%
NET CHANGE
Cash From Operating Activities -3.380M -2.860M -1.550M
Cash From Investing Activities -30.00K -1.260M -30.00K
Cash From Financing Activities 4.190M 1.310M 9.480M
Net Change In Cash 780.0K -2.810M 7.900M
YoY Change -90.13% 144.35% -1182.19%
FREE CASH FLOW
Cash From Operating Activities -$3.380M -$2.860M -$1.550M
Capital Expenditures $140.0K -$180.0K -$30.00K
Free Cash Flow -$3.520M -$2.680M -$1.520M
YoY Change 131.58% 112.7% 108.22%

Facts In Submission

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CY2015Q3 capn Operating Lease Office Space
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us-gaap Line Of Credit Facility Initiation Date1
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dei Document Type
DocumentType
10-Q
dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Delaware
dei Entity Registrant Name
EntityRegistrantName
Capnia, Inc.
dei Trading Symbol
TradingSymbol
CAPN
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
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us-gaap Preferred Stock Conversion Basis
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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dei Document Period End Date
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2015-09-30
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2015
us-gaap Operating Leases Indemnification Agreements Description
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dei Entity Central Index Key
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us-gaap Earnings Per Share Basic And Diluted
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capn Patent Expiration Date
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capn Operating Leases Expiration Date
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capn Stock Issued During Period Shares Cashless Exercise Of Warrants
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capn Registration Rights Agreement Description And Terms
RegistrationRightsAgreementDescriptionAndTerms
The Company is required to comply with certain requirement to cause or maintain the effectiveness of a registration statement for the offer and sale of these securities. The Warrant contracts further provide for the payment of liquidated damages at an amount per month equal to 1% of the aggregate VWAP of the shares into which each Warrant is convertible into in the event that the Company is unable to maintain the effectiveness of a registration
capn Cashless Exercise Of Warrant
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CashlessWarrantsExercised
43720 shares
capn Business Acquisition Proforma Weighted Average Shares Basic And Diluted
BusinessAcquisitionProformaWeightedAverageSharesBasicAndDiluted
7243164 shares
capn Amendment Lease Agreement Period
AmendmentLeaseAgreementPeriod
2018-06
capn Reduction In Initial Public Offering Costs Payable
ReductionInInitialPublicOfferingCostsPayable
45000
capn Patent Issued Date
PatentIssuedDate
2003-06-19
capn Patent Costs Included In Accrued Liabilities
PatentCostsIncludedInAccruedLiabilities
300000
capn Noncash Or Part Noncash Number Of Shares Issued
NoncashOrPartNoncashNumberOfSharesIssued
50000 shares
capn Noncash Expense On Shares Issued
NoncashExpenseOnSharesIssued
183000
CY2015Q3 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
10000 shares
CY2014 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-10.42
CY2014 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3949000
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-13238000
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
535685 shares
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.47
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1323000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1070000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-2393000
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5000
CY2014Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
84000
CY2014Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
318000
CY2014Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
56000
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
522000
CY2014Q3 us-gaap Interest Expense
InterestExpense
752000
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
717000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
1323000
CY2015Q3 us-gaap Gross Profit
GrossProfit
191000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-3293000
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
92000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3183000
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-110000
CY2015Q3 us-gaap Revenues
Revenues
247000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
144000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
3374000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1193000
CY2015Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
467000
CY2015Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-73000
CY2015Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
83000
CY2015Q3 us-gaap Cost Of Revenue
CostOfRevenue
56000
CY2015Q3 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
183000
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1714000

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