2015 Q3 Form 10-Q Financial Statement

#000156459015009694 Filed on November 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q4 2014 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 $1.780M $210.0K $360.0K
YoY Change 394.44%
% of Gross Profit
Research & Development $2.508M $140.0K $790.0K
YoY Change 217.41%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $4.288M $350.0K $1.150M
YoY Change 272.89%
Operating Profit -$4.288M
YoY Change
Interest Expense -$10.31K -$330.0K -$25.04K
YoY Change -58.81%
% of Operating Profit
Other Income/Expense, Net -$448.3K $2.080M $887.2K
YoY Change -150.53%
Pretax Income -$4.740M $1.390M -$260.0K
YoY Change 1723.08%
Income Tax
% Of Pretax Income
Net Earnings -$4.737M $1.390M -$261.8K
YoY Change 1709.22%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$529.6K $157.2K -$30.06K
COMMON SHARES
Basic Shares Outstanding 9.783M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.50M $800.0K
YoY Change 300.0%
Cash & Equivalents $2.140M $755.9K $794.4K
Short-Term Investments $15.30M
Other Short-Term Assets $1.400M $0.00
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $18.93M $773.7K
YoY Change 286.84%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $80.00K $775.00
YoY Change
Total Long-Term Assets $80.00K $2.269M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $18.93M $773.7K
Total Long-Term Assets $80.00K $2.269M
Total Assets $19.01M $3.043M
YoY Change 1421.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $401.7K $1.831M
YoY Change 1730.72%
Accrued Expenses $1.300M $20.30M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.900M $300.0K
YoY Change
Total Short-Term Liabilities $5.723M $22.52M
YoY Change 22417.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.300M
YoY Change 550.0%
Other Long-Term Liabilities $0.00 $1.400M
YoY Change 1300.0%
Total Long-Term Liabilities $19.15K $2.655M
YoY Change 784.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.723M $22.52M
Total Long-Term Liabilities $19.15K $2.655M
Total Liabilities $5.742M $25.17M
YoY Change 6192.92%
SHAREHOLDERS EQUITY
Retained Earnings -$40.45M -$22.14M
YoY Change
Common Stock $53.73M $12.93K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.27M -$22.13M
YoY Change
Total Liabilities & Shareholders Equity $19.01M $3.043M
YoY Change 1421.57%

Cashflow Statement

Concept 2015 Q3 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income -$4.737M $1.390M -$261.8K
YoY Change 1709.22%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$3.400M -$440.0K -$610.0K
YoY Change 457.38% 528.57%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$3.260M
YoY Change
Cash From Investing Activities -$3.260M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -710.0K 400.0K 520.0K
YoY Change -236.54% 900.0%
NET CHANGE
Cash From Operating Activities -3.400M -440.0K -610.0K
Cash From Investing Activities -3.260M
Cash From Financing Activities -710.0K 400.0K 520.0K
Net Change In Cash -7.370M -40.00K -90.00K
YoY Change 8088.89% 33.33%
FREE CASH FLOW
Cash From Operating Activities -$3.400M -$440.0K -$610.0K
Capital Expenditures
Free Cash Flow
YoY Change

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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements. Significant estimates made in preparing these financial statements relate to determining the fair value of the debt conversion feature liability and accounting for certain commitments. Actual results could differ from those estimates.</p></div>
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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash and cash equivalents and marketable securities. The Company maintains deposits in federally insured depository institutions in excess of federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. Additionally, the Company has established guidelines regarding approved investments and maturities of investments, which are designed to maintain safety and liquidity.</p></div>
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0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.852
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y5M27D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0181
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
282
CY2015Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2015Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
10.00
vktx Description Of Warrant
DescriptionOfWarrant
The warrant is exercisable for cash or on a cashless basis at a per share exercise price equal to $10.00 commencing on April 28, 2016, one year following the date of the prospectus filed with the SEC relating to the IPO, and expiring on April 28, 2020. The representative (or permitted assignees) agreed not to sell, transfer, assign, pledge or hypothecate the warrant or the shares of common stock underlying the warrant, or to engage in any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of the warrant or the underlying shares of common stock until October 25, 2015. In addition, the warrant provides for registration rights upon request, under certain circumstances. The piggyback registration right provided in connection with the warrant will terminate on April 28, 2022.
vktx Warrant Expiration Date
WarrantExpirationDate
2022-04-28
vktx Initial Public Offering Expiration Date
InitialPublicOfferingExpirationDate
2020-04-28
CY2015Q3 vktx Sublease Area
SubleaseArea
7049
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
39474
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
199740
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
247611
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
190337
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
677162

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vktx-20150930.xml Edgar Link completed
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