$SONN
Sonnet Biotherapeutics Holdings Inc

2021 Q3 Form 10-K Financial Statement

#000149315221031781 Filed on December 17, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 2020
Revenue $483.6K $483.6K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.395M $8.937M $7.530M
YoY Change -13.86% 18.68% 7.88%
% of Gross Profit
Research & Development $5.036M $9.880M
YoY Change 6.92%
% of Gross Profit
Depreciation & Amortization $3.210K $12.46K $10.00K
YoY Change 24.6% -99.46%
% of Gross Profit
Operating Expenses $7.431M $0.00 $17.41M
YoY Change -0.79% -100.0% 97.17%
Operating Profit -$25.09M
YoY Change
Interest Expense -$5.180K -$22.02K -$30.00K
YoY Change -82.73% -26.6% -95.52%
% of Operating Profit
Other Income/Expense, Net $0.00 $125.5K
YoY Change
Pretax Income -$6.952M -$24.98M -$24.27M
YoY Change -7.55% 2.94% 39.72%
Income Tax
% Of Pretax Income
Net Earnings -$6.952M -$24.98M -$24.27M
YoY Change -7.55% 2.94% 36.89%
Net Earnings / Revenue -1437.48% -5165.92%
Basic Earnings Per Share -$14.25
Diluted Earnings Per Share -$174.9K -$1.018M -$2.576M
COMMON SHARES
Basic Shares Outstanding 1.753M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2021 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.62M $27.62M $7.350M
YoY Change 275.81% 275.81% 1370.0%
Cash & Equivalents $27.62M
Short-Term Investments
Other Short-Term Assets $1.189M $1.189M $290.0K
YoY Change 310.16% 310.16% 16.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $28.81M $28.81M $7.640M
YoY Change 277.11% 277.11% 552.99%
LONG-TERM ASSETS
Property, Plant & Equipment $59.06K $182.3K $270.0K
YoY Change -78.13% -32.49% -98.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $80.00K
YoY Change -100.0% -46.67%
Total Long-Term Assets $182.3K $182.3K $350.0K
YoY Change -47.92% -47.92% -98.85%
TOTAL ASSETS
Total Short-Term Assets $28.81M $28.81M $7.640M
Total Long-Term Assets $182.3K $182.3K $350.0K
Total Assets $28.99M $28.99M $7.990M
YoY Change 262.88% 262.88% -74.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.781M $3.781M $2.060M
YoY Change 83.56% 83.56% -51.3%
Accrued Expenses $2.310M $2.405M $2.150M
YoY Change 7.46% 11.86% -70.3%
Deferred Revenue
YoY Change
Short-Term Debt $750.00 $750.00 $20.00K
YoY Change -96.25% -96.25%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.703M $6.703M $4.720M
YoY Change 42.02% 42.02% -73.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $120.0K
YoY Change -100.0% -100.0% -83.1%
Other Long-Term Liabilities $30.61K $30.61K $130.0K
YoY Change -76.45% -76.45% -99.18%
Total Long-Term Liabilities $30.61K $30.61K $250.0K
YoY Change -87.76% -87.76% -98.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.703M $6.703M $4.720M
Total Long-Term Liabilities $30.61K $30.61K $250.0K
Total Liabilities $6.734M $6.734M $4.970M
YoY Change 35.49% 35.49% -85.86%
SHAREHOLDERS EQUITY
Retained Earnings -$61.69M
YoY Change
Common Stock $6.025K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.26M $22.26M $3.020M
YoY Change
Total Liabilities & Shareholders Equity $28.99M $28.99M $7.990M
YoY Change 262.88% 262.88% -74.66%

Cashflow Statement

Concept 2021 Q3 2021 2020
OPERATING ACTIVITIES
Net Income -$6.952M -$24.98M -$24.27M
YoY Change -7.55% 2.94% 36.89%
Depreciation, Depletion And Amortization $3.210K $12.46K $10.00K
YoY Change 24.6% -99.46%
Cash From Operating Activities -$5.938M -$22.55M -$15.61M
YoY Change 7.19% 44.47% 285.43%
INVESTING ACTIVITIES
Capital Expenditures -$3.620K -$3.620K -$80.00K
YoY Change -95.48% -82.98%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.620K -$3.620K -$80.00K
YoY Change -95.48% -111.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.53M 42.83M 23.01M
YoY Change 181.16% 86.13% 588.92%
NET CHANGE
Cash From Operating Activities -5.938M -22.55M -15.61M
Cash From Investing Activities -3.620K -3.620K -80.00K
Cash From Financing Activities 27.53M 42.83M 23.01M
Net Change In Cash 21.58M 20.27M 7.320M
YoY Change 407.86% 176.94% -24500.0%
FREE CASH FLOW
Cash From Operating Activities -$5.938M -$22.55M -$15.61M
Capital Expenditures -$3.620K -$3.620K -$80.00K
Free Cash Flow -$5.935M -$22.55M -$15.53M
YoY Change 7.12% 45.19% 333.8%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
USD
CY2021Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
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CY2021Q3 us-gaap Commitments And Contingencies
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CY2020Q3 us-gaap Commitments And Contingencies
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CY2021Q3 us-gaap Preferred Stock Value
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CY2020Q3 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2020 us-gaap Other Income
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CY2021 SONN Deemed Dividend Arising From Warrant Amendment
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CY2021 SONN Shares Issued On Net Share Settlement Of Warrants
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CY2020 SONN Noncash Interest Expenses
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CY2020 SONN Forgiveness Of Note Payable
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CY2021 SONN Payment To Affect Merger
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CY2021 us-gaap Proceeds From Issuance Of Debt
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CY2021 us-gaap Proceeds From Related Party Debt
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CY2021 SONN Proceeds From Cash Received Upon Acquisition
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CY2021 us-gaap Stock Issued1
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CY2021 SONN Issuance Of Common Stock To Settle Related Party Note
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CY2020 SONN Net Settlement Of Warrants
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CY2021 SONN Issuance Common Stock To Settle Related Party Notes
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CY2020 SONN Issuance Of Common Stock On Vesting Of Restricted Stock Units
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CY2020Q3 us-gaap Other Accrued Liabilities Current
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CY2020Q3 us-gaap Deferred Tax Assets Property Plant And Equipment
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CY2021Q3 us-gaap Deferred Tax Assets Liabilities Net
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CY2020Q3 us-gaap Deferred Tax Assets Liabilities Net
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020 us-gaap Effective Income Tax Rate Continuing Operations
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