2019 Q1 Form 10-K Financial Statement

#000162828019002007 Filed on February 26, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018 Q3
Revenue $21.81M $31.34M $22.48M
YoY Change 20.99% 34.2% 57.67%
Cost Of Revenue $8.640M $8.630M $8.140M
YoY Change 12.71% 2.86% 13.28%
Gross Profit $13.17M $22.71M $14.35M
YoY Change 27.11% 51.77% 102.8%
Gross Profit Margin 60.39% 72.46% 63.81%
Selling, General & Admin $13.52M $13.69M $12.57M
YoY Change 23.43% 34.48% 53.54%
% of Gross Profit 102.66% 60.29% 87.61%
Research & Development $3.008M $3.020M $3.113M
YoY Change -19.33% -15.88% 6.65%
% of Gross Profit 22.84% 13.3% 21.7%
Depreciation & Amortization $324.0K $300.0K $320.0K
YoY Change -24.12% -28.57% -21.95%
% of Gross Profit 2.46% 1.32% 2.23%
Operating Expenses $16.53M $16.71M $15.68M
YoY Change 12.57% 21.35% 41.22%
Operating Profit -$3.358M $5.995M -$1.336M
YoY Change -22.3% 403.36% -66.86%
Interest Expense $2.000K $160.0K $460.0K
YoY Change -99.54% 220.0% 45.11%
% of Operating Profit 2.67%
Other Income/Expense, Net $514.0K -$80.00K $267.0K
YoY Change -115.4% -20.0% -119.4%
Pretax Income -$2.840M $5.240M -$1.070M
YoY Change -62.92% 1706.9% -80.22%
Income Tax
% Of Pretax Income
Net Earnings -$2.844M $5.242M -$1.069M
YoY Change -62.87% 1726.48% -80.23%
Net Earnings / Revenue -13.04% 16.73% -4.75%
Basic Earnings Per Share -$0.07 $0.12 -$0.02
Diluted Earnings Per Share -$0.07 $0.11 -$0.02
COMMON SHARES
Basic Shares Outstanding 43.75M shares 43.35M shares 42.93M shares
Diluted Shares Outstanding 42.93M shares

Balance Sheet

Concept 2019 Q1 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $84.10M $82.90M $97.80M
YoY Change 182.21% 208.18% 530.97%
Cash & Equivalents $35.08M $18.29M $53.29M
Short-Term Investments $49.00M $64.60M $44.50M
Other Short-Term Assets $2.679M $2.847M $2.339M
YoY Change 97.28% 80.08% 71.23%
Inventory $4.063M $3.558M $3.638M
Prepaid Expenses
Receivables $18.77M $23.45M $15.53M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $109.6M $112.8M $119.3M
YoY Change 127.38% 123.31% 228.43%
LONG-TERM ASSETS
Property, Plant & Equipment $6.445M $5.906M $5.207M
YoY Change 53.2% 45.07% 31.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $31.63M $5.906M $5.207M
YoY Change 651.79% 45.07% 31.26%
TOTAL ASSETS
Total Short-Term Assets $109.6M $112.8M $119.3M
Total Long-Term Assets $31.63M $5.906M $5.207M
Total Assets $141.2M $118.7M $124.5M
YoY Change 169.47% 117.47% 209.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.201M $7.108M $4.580M
YoY Change 7.51% 28.03% -23.31%
Accrued Expenses $6.600M $6.930M $5.600M
YoY Change 873.45% 24.35% 1377.57%
Deferred Revenue $534.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $4.100M
YoY Change -100.0% -100.0% 57.69%
Total Short-Term Liabilities $12.94M $14.79M $14.99M
YoY Change -6.75% 13.0% 3.19%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $0.00 $13.18M
YoY Change -99.36% -100.0% 78.15%
Other Long-Term Liabilities $25.10M $1.666M $1.800M
YoY Change 1221.05% -20.67%
Total Long-Term Liabilities $25.20M $1.666M $13.18M
YoY Change 61.03% -19.09% 78.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.94M $14.79M $14.99M
Total Long-Term Liabilities $25.20M $1.666M $13.18M
Total Liabilities $38.17M $16.46M $29.99M
YoY Change 21.29% -48.63% 27.39%
SHAREHOLDERS EQUITY
Retained Earnings -$371.9M -$369.0M -$374.3M
YoY Change 0.9% 2.25% 3.62%
Common Stock $474.8M $471.2M $468.4M
YoY Change 22.03% 23.02% 24.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $103.1M $102.2M $94.48M
YoY Change
Total Liabilities & Shareholders Equity $141.2M $118.7M $124.5M
YoY Change 169.47% 117.47% 209.01%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$2.844M $5.242M -$1.069M
YoY Change -62.87% 1726.48% -80.23%
Depreciation, Depletion And Amortization $324.0K $300.0K $320.0K
YoY Change -24.12% -28.57% -21.95%
Cash From Operating Activities $154.0K $2.610M $2.020M
YoY Change -61.98% 210.71% -138.55%
INVESTING ACTIVITIES
Capital Expenditures $232.0K -$580.0K -$1.120M
YoY Change 26.09% -19.44% 115.38%
Acquisitions $10.69M
YoY Change
Other Investing Activities $15.89M -$19.87M -$44.48M
YoY Change
Cash From Investing Activities $15.66M -$20.45M -$45.60M
YoY Change -8611.96% 2740.28% 8669.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $982.0K -17.17M 1.910M
YoY Change -63.55% -252.22% -73.44%
NET CHANGE
Cash From Operating Activities $154.0K 2.610M 2.020M
Cash From Investing Activities $15.66M -20.45M -45.60M
Cash From Financing Activities $982.0K -17.17M 1.910M
Net Change In Cash $16.80M -35.01M -41.67M
YoY Change 476.26% -407.11% -3013.99%
FREE CASH FLOW
Cash From Operating Activities $154.0K $2.610M $2.020M
Capital Expenditures $232.0K -$580.0K -$1.120M
Free Cash Flow -$78.00K $3.190M $3.140M
YoY Change -135.29% 104.49% -166.53%

Facts In Submission

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-51000 USD
CY2016 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
115000 USD
CY2018 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-22000 USD
CY2016 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
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-860000 USD
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
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-838000 USD
CY2016Q4 us-gaap Gross Profit
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14961000 USD
CY2016 us-gaap Gross Profit
GrossProfit
26076000 USD
CY2017Q1 us-gaap Gross Profit
GrossProfit
2252000 USD
CY2017Q2 us-gaap Gross Profit
GrossProfit
9283000 USD
CY2017Q3 us-gaap Gross Profit
GrossProfit
7074000 USD
CY2017 us-gaap Gross Profit
GrossProfit
33570000 USD
CY2018Q1 us-gaap Gross Profit
GrossProfit
10361000 USD
CY2018Q2 us-gaap Gross Profit
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11284000 USD
CY2018Q3 us-gaap Gross Profit
GrossProfit
14346000 USD
CY2018Q4 us-gaap Gross Profit
GrossProfit
22706000 USD
CY2018 us-gaap Gross Profit
GrossProfit
58697000 USD
CY2016 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
2638000 USD
CY2017 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2018 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2016Q1 us-gaap Incentive From Lessor
IncentiveFromLessor
2000000 USD
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-19566000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-8137000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
7677000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-5445000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1688000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-614000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
11749000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
839000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-6652000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-5877000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1709000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
549000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
563000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-605000 USD
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
56000 USD
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
116000 USD
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
172000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1016000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1106000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-385000 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
100000 USD
CY2018 us-gaap Income Taxes Paid
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0 USD
CY2016 us-gaap Increase Decrease In Accounts Payable
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-1076000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable
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-1361000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable
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899000 USD
CY2016 us-gaap Increase Decrease In Accrued Liabilities
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920000 USD
CY2017 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1050000 USD
CY2018 us-gaap Increase Decrease In Accrued Liabilities
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1493000 USD
CY2016 us-gaap Increase Decrease In Inventories
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2108000 USD
CY2017 us-gaap Increase Decrease In Inventories
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305000 USD
CY2018 us-gaap Increase Decrease In Inventories
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-235000 USD
CY2016 us-gaap Increase Decrease In Other Current Assets
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701000 USD
CY2017 us-gaap Increase Decrease In Other Current Assets
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261000 USD
CY2018 us-gaap Increase Decrease In Other Current Assets
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1267000 USD
CY2016 us-gaap Increase Decrease In Other Operating Liabilities
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217000 USD
CY2017 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
41000 USD
CY2018 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
39000 USD
CY2016 us-gaap Increase Decrease In Prepaid Rent
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-1568000 USD
CY2017 us-gaap Increase Decrease In Prepaid Rent
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-785000 USD
CY2018 us-gaap Increase Decrease In Prepaid Rent
IncreaseDecreaseInPrepaidRent
247000 USD
CY2016 us-gaap Increase Decrease In Receivables
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6174000 USD
CY2017 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1177000 USD
CY2018 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
5184000 USD
CY2016 us-gaap Interest Expense
InterestExpense
15000 USD
CY2017 us-gaap Interest Expense
InterestExpense
92000 USD
CY2018 us-gaap Interest Expense
InterestExpense
31000 USD
CY2016 us-gaap Interest Paid Net
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226000 USD
CY2017 us-gaap Interest Paid Net
InterestPaidNet
931000 USD
CY2018 us-gaap Interest Paid Net
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2230000 USD
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35000 USD
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48000 USD
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3793000 USD
CY2018Q4 us-gaap Inventory Net
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3558000 USD
CY2017Q4 us-gaap Inventory Raw Materials
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3532000 USD
CY2018Q4 us-gaap Inventory Raw Materials
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2872000 USD
CY2017Q4 us-gaap Inventory Work In Process
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226000 USD
CY2018Q4 us-gaap Inventory Work In Process
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638000 USD
CY2016 us-gaap Investment Income Interest
InvestmentIncomeInterest
8000 USD
CY2017 us-gaap Investment Income Interest
InvestmentIncomeInterest
14000 USD
CY2018 us-gaap Investment Income Interest
InvestmentIncomeInterest
897000 USD
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32037000 USD
CY2018Q4 us-gaap Liabilities
Liabilities
16458000 USD
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54577000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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118689000 USD
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13090000 USD
CY2018Q4 us-gaap Liabilities Current
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14792000 USD
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2059000 USD
CY2018Q4 us-gaap Liabilities Noncurrent
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1666000 USD
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8397000 USD
CY2017 us-gaap Net Cash Provided By Used In Continuing Operations
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3884000 USD
CY2018 us-gaap Net Cash Provided By Used In Continuing Operations
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-8576000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
29704000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18577000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
58863000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1415000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1510000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-67027000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-19892000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13183000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-412000 USD
CY2016Q4 us-gaap Net Income Loss
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287000 USD
CY2016 us-gaap Net Income Loss
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-19566000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-9778000 USD
CY2017Q2 us-gaap Net Income Loss
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-2388000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-5407000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
-17286000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-7659000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-4651000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-1069000 USD
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
5242000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
-8137000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-27145000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-17286000 USD
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8137000 USD
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-321000 USD
CY2017 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2302000 USD
CY2018 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4228000 USD
CY2018 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2016 us-gaap Operating Expenses
OperatingExpenses
45321000 USD
CY2017 us-gaap Operating Expenses
OperatingExpenses
48554000 USD
CY2018 us-gaap Operating Expenses
OperatingExpenses
62606000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
1191000 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
-19245000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-9623000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-2521000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-4031000 USD
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
-14984000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4322000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4246000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1336000 USD
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
5995000 USD
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
-3909000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
15386000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
4879000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
68000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
966000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4754000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4719000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
0 USD
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4800000 USD
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5600000 USD
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5500000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1581000 USD
CY2018Q4 us-gaap Other Assets Current
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2847000 USD
CY2016 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2017 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2018 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-39000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
181000 USD
CY2018Q4 us-gaap Other Liabilities Current
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188000 USD
CY2016 us-gaap Other Nonoperating Income Expense
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-314000 USD
CY2017 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1107000 USD
CY2018 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1732000 USD
CY2016 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2017 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
583000 USD
CY2018 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
710000 USD
CY2016 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
213000 USD
CY2017 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
30000 USD
CY2018 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1415000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1510000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2678000 USD
CY2016 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
0 USD
CY2017 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
0 USD
CY2018 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
66549000 USD
CY2016 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
7579000 USD
CY2017 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
CY2018 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
CY2016 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 USD
CY2017 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 USD
CY2018 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
70028000 USD
CY2016 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
190000 USD
CY2017 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
207000 USD
CY2018 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0 USD
CY2016 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
19455000 USD
CY2017 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
8220000 USD
CY2018 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
4361000 USD
CY2016 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
0 USD
CY2017 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
0 USD
CY2018 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
2200000 USD
CY2016 us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
12710000 USD
CY2017 us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
14793000 USD
CY2018 us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
0 USD
CY2016 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2017 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
4010000 USD
CY2018 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2716000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10692000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
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13411000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
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4071000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5906000 USD
CY2018Q4 us-gaap Purchase Obligation
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2761000 USD
CY2018Q4 us-gaap Purchase Obligation Due After Fifth Year
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0 USD
CY2018Q4 us-gaap Purchase Obligation Due In Fifth Year
PurchaseObligationDueInFifthYear
0 USD
CY2018Q4 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
635000 USD
CY2018Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
741000 USD
CY2018Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
711000 USD
CY2015Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
600000 USD
CY2018Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
674000 USD
CY2016 us-gaap Repayments Of Debt
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38000 USD
CY2017 us-gaap Repayments Of Debt
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7151000 USD
CY2018 us-gaap Repayments Of Debt
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17532000 USD
CY2016 us-gaap Repayments Of Lines Of Credit
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2400000 USD
CY2017 us-gaap Repayments Of Lines Of Credit
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889000 USD
CY2018 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2016 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15295000 USD
CY2017 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12944000 USD
CY2018 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13599000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-360877000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-369000000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-369014000 USD
CY2016 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
54383000 USD
CY2017 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
62760000 USD
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
90857000 USD
CY2016Q4 us-gaap Revenues
Revenues
23350000 USD
CY2016 us-gaap Revenues
Revenues
54383000 USD
CY2017Q1 us-gaap Revenues
Revenues
9361000 USD
CY2017Q2 us-gaap Revenues
Revenues
16953000 USD
CY2017Q3 us-gaap Revenues
Revenues
14260000 USD
CY2017 us-gaap Revenues
Revenues
63924000 USD
CY2018Q1 us-gaap Revenues
Revenues
18027000 USD
CY2018Q2 us-gaap Revenues
Revenues
19011000 USD
CY2018Q3 us-gaap Revenues
Revenues
22484000 USD
CY2018Q4 us-gaap Revenues
Revenues
31335000 USD
CY2018 us-gaap Revenues
Revenues
90857000 USD
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
27388000 USD
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
35610000 USD
CY2018 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
49007000 USD
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
2499000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
2680000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
7223000 USD
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
0 USD
CY2018Q4 us-gaap Short Term Investments
ShortTermInvestments
64638000 USD
CY2016 us-gaap Stock Issued1
StockIssued1
3150000 USD
CY2017 us-gaap Stock Issued1
StockIssued1
38389000 USD
CY2018 us-gaap Stock Issued1
StockIssued1
0 USD
CY2016 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 USD
CY2017 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 USD
CY2016 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
467000 USD
CY2017 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
425000 USD
CY2018 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
656000 USD
CY2016 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
18868000 USD
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
7188000 USD
CY2018 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
70028000 USD
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
120000 USD
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
608000 USD
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3705000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
22130000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
24708000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
22540000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
102231000 USD
CY2018 us-gaap Unrealized Loss On Securities
UnrealizedLossOnSecurities
39000 USD
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1700000 USD
CY2017Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
397000 USD
CY2018Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
104000 USD
CY2016 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23093000 shares
CY2017 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33355000 shares
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
40242000 shares
CY2018 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vericel Corporation, a Michigan corporation (together with its consolidated subsidiaries referred to herein as the Company, Vericel, we, us or our), was incorporated in March&#160;1989 and began employee-based operations in 1991. On May&#160;30, 2014, Vericel completed the acquisition of certain assets and assumed certain liabilities of Sanofi, a French </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">soci&#233;t&#233; anonyme</font><font style="font-family:inherit;font-size:10pt;"> (Sanofi), including all of the outstanding equity interests of Genzyme Biosurgery ApS (Genzyme Denmark or the Danish subsidiary) (now known as Vericel Denmark ApS), a wholly-owned subsidiary of Sanofi, and a portfolio of patents and patent applications of Sanofi and certain of its subsidiaries for purposes of acquiring the portion of the cell therapy and regenerative medicine business (the CTRM Business), related to the MACI</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">, Carticel</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">&#160;and Epicel</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">&#160;products. The Company is a fully integrated, commercial-stage biopharmaceutical company and currently markets MACI</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">&#160;and Epicel</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">&#160;in the U.S. The Company is a leader in advanced cell therapies for the sports medicine and severe burn care markets. MACI</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> (autologous cultured chondrocytes on porcine collagen membrane) is an autologous cellularized scaffold product indicated for the repair of symptomatic, single or multiple full-thickness cartilage defects of the knee with or without bone involvement in adults that was approved by the FDA on December 13, 2016. The first shipment and implantation of MACI occurred on January 31, 2017. At the end of the second quarter of 2017, the Company removed Carticel</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> (autologous cultured chondrocytes), an earlier generation ACI product, from the market. The Company also markets Epicel</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> (cultured epidermal autografts), a permanent skin replacement Humanitarian Use Device (HUD) for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns comprising greater than or equal to 30 percent of total body surface area (TBSA). The Company operates its business primarily in the U.S. in </font><font style="font-family:inherit;font-size:10pt;">1</font><font style="font-family:inherit;font-size:10pt;"> reportable segment &#8212; the research, product development, manufacture and distribution of cellular therapies for use in the treatment of specific diseases.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#222222;">The accompanying consolidated financial statements have been prepared on a basis which assumes that the Company will continue as a going concern and contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business.&#160; As of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;color:#222222;">, the Company has an accumulated deficit of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">$369.0 million</font><font style="font-family:inherit;font-size:10pt;color:#222222;"> and had a net loss of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">$8.1 million</font><font style="font-family:inherit;font-size:10pt;color:#222222;"> during 2018.&#160; The Company had cash and cash equivalents of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">$18.3 million</font><font style="font-family:inherit;font-size:10pt;color:#222222;"> and short term investments of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">$64.6</font><font style="font-family:inherit;font-size:10pt;color:#222222;"> million as of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;color:#222222;">. On December 19, 2018, the Company terminated and prepaid in full all outstanding indebtedness under the Loan and Security Agreement dated as of September 9, 2016 as amended, by and between the Company, Silicon Valley Bank as Agent and Silicon Valley Bank, MidCap Financial Trust, MidCap Funding III Trust (SVB and MidCap) and other lenders listed therein as lenders (SVB Loan Agreement). The Company expects that existing cash, cash equivalents and short term investments will be sufficient to support the Company's </font><font style="font-family:inherit;font-size:10pt;">current operations through at least February 2020.</font><font style="font-family:inherit;font-size:10pt;color:#222222;"> The Company may seek additional funding through debt or equity financings.&#160; However, the Company may not be able to obtain financing on acceptable terms or at all. The terms of any financing may adversely affect the holdings or the rights of the Company's shareholders.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reported period. Actual results could differ from those estimates.</font></div></div>

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