$TECX
Tectonic Therapeutic, Inc.

2020 Q3 Form 10-Q Financial Statement

#000156459020051456 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.210M $7.990M $5.020M
YoY Change 63.55% 83.68% 67.33%
% of Gross Profit
Research & Development $28.51M $20.87M $13.04M
YoY Change 118.59% 70.13% 41.27%
% of Gross Profit
Depreciation & Amortization $301.0K $301.0K $215.0K
YoY Change 40.0% 50.5% 65.38%
% of Gross Profit
Operating Expenses $36.72M $28.86M $18.06M
YoY Change 103.27% 73.73% 47.68%
Operating Profit -$36.72M -$18.06M
YoY Change 103.27% 47.68%
Interest Expense -$60.00K $30.00K $920.0K
YoY Change -106.52% -94.64% 43.75%
% of Operating Profit
Other Income/Expense, Net -$74.00K $919.0K
YoY Change -108.05% 43.37%
Pretax Income -$36.78M -$28.83M -$17.15M
YoY Change 114.46% 79.51% 47.97%
Income Tax
% Of Pretax Income
Net Earnings -$36.78M -$28.83M -$17.15M
YoY Change 114.52% 79.56% 47.92%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$1.009M -$798.6K -$566.0K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $219.5M $244.4M $206.4M
YoY Change 6.35% 170.65% 48.92%
Cash & Equivalents $219.5M $244.4M $206.4M
Short-Term Investments
Other Short-Term Assets $1.163M $997.0K $247.0K
YoY Change 370.85% 203.04% -47.33%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $229.0M $251.0M $213.7M
YoY Change 7.16% 155.63% 52.56%
LONG-TERM ASSETS
Property, Plant & Equipment $3.312M $3.580M $2.673M
YoY Change 23.91% 30.61% 15.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $465.0K $1.000M $825.0K
YoY Change -43.64% -5.66% -7.09%
Total Long-Term Assets $4.255M $4.600M $3.498M
YoY Change 21.64% 21.02% 9.52%
TOTAL ASSETS
Total Short-Term Assets $229.0M $251.0M $213.7M
Total Long-Term Assets $4.255M $4.600M $3.498M
Total Assets $233.3M $255.6M $217.2M
YoY Change 7.39% 150.62% 51.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.311M $2.600M $1.408M
YoY Change 64.13% 1.09% -11.0%
Accrued Expenses $22.53M $12.79M $8.502M
YoY Change 164.94% 106.56% 121.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $25.05M $15.40M $9.910M
YoY Change 152.8% 75.7% 82.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $300.0K $400.0K $500.0K
YoY Change -40.0% -33.33% -28.57%
Total Long-Term Liabilities $300.0K $400.0K $500.0K
YoY Change -40.0% -33.33% -28.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.05M $15.40M $9.910M
Total Long-Term Liabilities $300.0K $400.0K $500.0K
Total Liabilities $25.38M $15.80M $10.45M
YoY Change 143.02% 68.89% 69.48%
SHAREHOLDERS EQUITY
Retained Earnings -$236.3M -$199.5M
YoY Change 90.19%
Common Stock $444.2M $439.3M
YoY Change 122.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $207.9M $239.8M $206.8M
YoY Change
Total Liabilities & Shareholders Equity $233.3M $255.6M $217.2M
YoY Change 7.39% 150.58% 51.6%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q3
OPERATING ACTIVITIES
Net Income -$36.78M -$28.83M -$17.15M
YoY Change 114.52% 79.56% 47.92%
Depreciation, Depletion And Amortization $301.0K $301.0K $215.0K
YoY Change 40.0% 50.5% 65.38%
Cash From Operating Activities -$24.87M -$21.02M -$13.39M
YoY Change 85.74% 17.04% 11.77%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$490.0K -$80.00K
YoY Change -62.5% 22.5% -91.3%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$30.00K -$490.0K -$80.00K
YoY Change -62.5% 22.5% -93.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 60.00K 8.190M 129.5M
YoY Change -99.95% 3312.5% -4083.69%
NET CHANGE
Cash From Operating Activities -24.87M -21.02M -13.39M
Cash From Investing Activities -30.00K -490.0K -80.00K
Cash From Financing Activities 60.00K 8.190M 129.5M
Net Change In Cash -24.84M -13.32M 116.0M
YoY Change -121.41% -26.49% -806.03%
FREE CASH FLOW
Cash From Operating Activities -$24.87M -$21.02M -$13.39M
Capital Expenditures -$30.00K -$490.0K -$80.00K
Free Cash Flow -$24.84M -$20.53M -$13.31M
YoY Change 86.63% 16.91% 20.34%

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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of the Business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">AVROBIO, Inc. (the “Company” or “AVROBIO”) is a clinical-stage gene therapy company focused on developing potentially curative <span style="font-style:italic;">ex vivo</span> lentiviral gene therapies to treat rare diseases following a single dose treatment regimen. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is subject to risks and uncertainties common to clinical-stage companies in the biotechnology industry, including but not limited to, risks associated with completing preclinical studies and clinical trials, receiving regulatory approvals for product candidates, development by competitors of new biopharmaceutical products, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Product candidates currently under development will require significant additional research and development efforts, including preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure and extensive compliance-reporting capabilities. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will realize revenue from product sales. <span style="font-size:12pt;">              </span></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has incurred recurring losses since its inception, including net losses of $91,581 and $50,303 for the nine months ended September 30, 2020 and 2019, respectively. In addition, as of September 30, 2020, the Company had an accumulated deficit of $236,285. The Company has primarily funded these losses through the proceeds from sales of common and preferred stock. Although the Company has incurred recurring losses and expects to continue to incur losses for the foreseeable future, the Company expects that its existing cash and cash equivalents on hand as of September 30, 2020 of $219,546 will be sufficient to fund current planned operations and capital expenditure requirements for at least the next twelve months from the filing date of this Quarterly Report on Form 10-Q with the SEC.  However, the future viability of the Company is dependent on its ability to raise additional capital to finance its operations. The Company’s inability to raise capital as and when needed could have a negative impact on its financial condition and ability to pursue its business strategies. There can be no assurance that the current operating plan will be achieved or that additional funding will be available on terms acceptable to the Company, or at all.<span style="font-size:12pt;">   </span></p>
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us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:8pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the accrual for research and development expenses, stock-based compensation expense, the valuation of equity and derivative instruments and the recoverability of the Company’s net deferred tax assets and related valuation allowance. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. <span style="Background-color:#FFFFFF;color:#000000;">Actual results may differ from these estimates under different assumptions or conditions.</span> Changes in estimates are recorded in the period in which they become known. </p>
CY2020Q3 avro Fair Value Input Amount Transfer Between Levels
FairValueInputAmountTransferBetweenLevels
0
CY2020Q3 avro Fair Value Input Amount Transfer Between Levels
FairValueInputAmountTransferBetweenLevels
0
CY2020Q3 avro Tax Incentive Refund Current
TaxIncentiveRefundCurrent
2366000
CY2019Q4 avro Tax Incentive Refund Current
TaxIncentiveRefundCurrent
1916000
CY2020Q3 avro Prepaid Research And Development Costs Current
PrepaidResearchAndDevelopmentCostsCurrent
3528000
CY2019Q4 avro Prepaid Research And Development Costs Current
PrepaidResearchAndDevelopmentCostsCurrent
4915000
CY2020Q3 us-gaap Prepaid Insurance
PrepaidInsurance
1762000
CY2019Q4 us-gaap Prepaid Insurance
PrepaidInsurance
897000
CY2020Q3 avro Prepaid Compensation And Benefit Costs Current
PrepaidCompensationAndBenefitCostsCurrent
621000
CY2019Q4 avro Prepaid Compensation And Benefit Costs Current
PrepaidCompensationAndBenefitCostsCurrent
362000
CY2020Q3 us-gaap Other Assets Current
OtherAssetsCurrent
1163000
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
568000
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8658000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4930000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1234000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3696000
CY2019Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
215000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
898000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
605000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9854000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3028000
CY2020Q3 avro Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
7540000
CY2019Q4 avro Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
5794000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
917000
CY2020Q3 avro Accrued License Agreement Current
AccruedLicenseAgreementCurrent
8000000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
196000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
115000
CY2020Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22525000
avro Additional Research And Development Expense
AdditionalResearchAndDevelopmentExpense
274000
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q3 avro Undesignated Preferred Stock
UndesignatedPreferredStock
10000000
CY2019Q4 avro Undesignated Preferred Stock
UndesignatedPreferredStock
10000000
CY2020Q3 avro Undesignated Preferred Stock Outstanding
UndesignatedPreferredStockOutstanding
0
CY2019Q4 avro Undesignated Preferred Stock Outstanding
UndesignatedPreferredStockOutstanding
0
us-gaap Dividends Cash
DividendsCash
0
CY2020Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
10806912
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6039105
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0084
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0240
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7585
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8125
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3414445
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.08
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
29353000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2485413
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
19.82
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
38761
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
202207
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
20.07
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5658890
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.25
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
13481000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1754340
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.92
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.98
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.77
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
595000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3446000
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
11057000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
32552
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.50
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
31210
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
0.89
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1342
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
15.65
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
28000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
44000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4805000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1797000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11526000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4914000
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
41143000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y29D
CY2020Q3 avro Additional Research And Development Expense
AdditionalResearchAndDevelopmentExpense
274000
CY2020Q3 avro Cost Of Milestone Payment
CostOfMilestonePayment
0
CY2020Q2 avro Lease Expiration Month And Year
LeaseExpirationMonthAndYear
2025-06
avro Annual Lease Payments Description
AnnualLeasePaymentsDescription
The annual lease payments are fixed for years 1 and 2, and then subject to a 6.67% increase for years 2 through 5
CY2020Q2 avro Operating Lease Annual Increase In Rental Percentage
OperatingLeaseAnnualIncreaseInRentalPercentage
0.0667
avro Increase Decrease In Lease Obligations
IncreaseDecreaseInLeaseObligations
865000

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