$VRDN
Viridian Therapeutics, Inc.\DE

2015 Form 10-K Financial Statement

#000117184316008702 Filed on March 21, 2016

View on sec.gov

Income Statement

Concept 2015 2014 Q4 2014
Revenue $5.706M $650.0K $6.484M
YoY Change -12.0% -40.37% 50.09%
Cost Of Revenue $2.472M $910.0K $3.366M
YoY Change -26.56% 35.82% 21.08%
Gross Profit $3.234M -$260.0K $3.118M
YoY Change 3.72% -161.9% 102.47%
Gross Profit Margin 56.68% -40.0% 48.09%
Selling, General & Admin $10.25M $1.960M $7.574M
YoY Change 35.34% 415.79% 330.34%
% of Gross Profit 316.98% 242.91%
Research & Development $1.002M $140.0K $347.0K
YoY Change 188.76% 250.0% 50.87%
% of Gross Profit 30.98% 11.13%
Depreciation & Amortization $184.0K $30.00K $144.0K
YoY Change 27.78% -25.0% -4.0%
% of Gross Profit 5.69% 4.62%
Operating Expenses $13.73M $2.100M $11.19M
YoY Change 22.69% 400.0% 465.0%
Operating Profit -$11.19M -$2.360M -$6.867M
YoY Change 62.91% -2027224563712000000.0% 1460.68%
Interest Expense $141.0K $0.00 $1.023M
YoY Change -86.22% -100.0% -152.19%
% of Operating Profit
Other Income/Expense, Net $141.0K
YoY Change
Pretax Income -$11.33M -$2.260M -$7.890M
YoY Change 43.6% 1030.0% 265.28%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$11.33M -$2.260M -$7.890M
YoY Change 43.57% 1030.0% 265.28%
Net Earnings / Revenue -198.53% -347.69% -121.68%
Basic Earnings Per Share
Diluted Earnings Per Share -$283.3M -$226.0M -$789.0M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2015 2014 Q4 2014
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.80M $5.100M $5.100M
YoY Change 111.76% 2450.0% 2450.0%
Cash & Equivalents $10.80M $5.119M $5.100M
Short-Term Investments
Other Short-Term Assets $300.0K $400.0K $400.0K
YoY Change -25.0% -20.0% -20.0%
Inventory $200.0K $179.0K $200.0K
Prepaid Expenses
Receivables $400.0K $1.088M $1.100M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.70M $6.785M $6.800M
YoY Change 72.06% 223.1% 223.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.200M $1.214M $1.200M
YoY Change 0.0% 34.89% 33.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $100.0K $100.0K
YoY Change -100.0% -85.71% -85.71%
Total Long-Term Assets $1.200M $1.304M $1.300M
YoY Change -7.69% -18.5% -18.75%
TOTAL ASSETS
Total Short-Term Assets $11.70M $6.785M $6.800M
Total Long-Term Assets $1.200M $1.304M $1.300M
Total Assets $12.90M $8.089M $8.100M
YoY Change 59.26% 118.62% 118.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0K $255.0K $300.0K
YoY Change -33.33% 155.0% 200.0%
Accrued Expenses $900.0K $361.0K $300.0K
YoY Change 200.0% 80.5% 50.0%
Deferred Revenue
YoY Change
Short-Term Debt $1.100M $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $0.00 $300.0K $300.0K
YoY Change -100.0% -25.0% -25.0%
Total Short-Term Liabilities $2.500M $1.989M $2.000M
YoY Change 25.0% -92.71% -92.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $0.00 $109.0K $100.0K
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $109.0K $100.0K
YoY Change -100.0% -63.67% -66.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.500M $1.989M $2.000M
Total Long-Term Liabilities $0.00 $109.0K $100.0K
Total Liabilities $2.500M $2.098M $2.100M
YoY Change 19.05% -92.4% -92.39%
SHAREHOLDERS EQUITY
Retained Earnings -$6.640M
YoY Change
Common Stock $38.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.40M $5.991M $6.000M
YoY Change
Total Liabilities & Shareholders Equity $12.90M $8.089M $8.100M
YoY Change 59.26% 118.62% 118.92%

Cashflow Statement

Concept 2015 2014 Q4 2014
OPERATING ACTIVITIES
Net Income -$11.33M -$2.260M -$7.890M
YoY Change 43.57% 1030.0% 265.28%
Depreciation, Depletion And Amortization $184.0K $30.00K $144.0K
YoY Change 27.78% -25.0% -4.0%
Cash From Operating Activities -$6.898M -$990.0K -$2.213M
YoY Change 211.7% 175.0% 89.15%
INVESTING ACTIVITIES
Capital Expenditures $123.0K -$270.0K $266.0K
YoY Change -53.76% 2600.0% -2760.0%
Acquisitions
YoY Change
Other Investing Activities $30.00K $0.00 -$10.00K
YoY Change -400.0% -200.0%
Cash From Investing Activities -$95.00K -$260.0K -$274.0K
YoY Change -65.33% -2840.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$13.10M $6.644M
YoY Change -297.1% -1428.8%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.71M -10.00K 7.397M
YoY Change 71.77% -102.94% 487.06%
NET CHANGE
Cash From Operating Activities -6.898M -990.0K -2.213M
Cash From Investing Activities -95.00K -260.0K -274.0K
Cash From Financing Activities 12.71M -10.00K 7.397M
Net Change In Cash 5.713M -1.260M 4.910M
YoY Change 16.35% 6200.0% 4810.0%
FREE CASH FLOW
Cash From Operating Activities -$6.898M -$990.0K -$2.213M
Capital Expenditures $123.0K -$270.0K $266.0K
Free Cash Flow -$7.021M -$720.0K -$2.479M
YoY Change 183.22% 105.71% 113.71%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2015 dei Entity Voluntary Filers
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CY2015 dei Amendment Flag
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Concentration of Credit Risk, Major Customers and Suppliers</div></div></div><div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div><div style=" font-size: 10pt; text-indent: 0.25in; margin: 0pt 0">Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents. Cash is maintained at two financial institutions and, at times, balances may exceed federally insured limits. The Company has not experienced any losses related to these balances. The Company invests excess cash in money market funds under the custodianship of a major financial institution. This diversification of risk is consistent with the Company's policy to ensure safety of principal and maintain liquidity.</div><div style=" font-size: 10pt; text-indent: 0.25in; margin: 0pt 0">&nbsp;</div><div style=" font-size: 10pt; text-indent: 0.25in; margin: 0pt 0">The Company had two major customers, UAMS and H. Lee Moffitt Cancer Center and Research Institute (&#x201c;Moffitt&#x201d;). Revenue sourced either from or through UAMS accounted for 54% and 84% of net revenue during the years ended December 31, 2015 and 2014, respectively, and revenue sourced through Moffitt accounted for 10% and 9% of net revenue during the years ended December 31, 2015 and 2014 respectively. Accounts receivable from UAMS at December 31, 2015 and 2014 accounted for 19% and 42%, respectively, of total accounts receivable outstanding. At December 31, 2015 and 2014 the Company had no accounts receivable from Moffitt.</div><div style=" font-size: 10pt; text-indent: 0.25in; margin: 0pt 0">&nbsp;</div><div style=" font-size: 10pt; text-indent: 0.25in; margin: 0pt 0">Inventory used in the Company&#x2019;s testing process is procured from one supplier. Any supply interruption or an increase in demand beyond such supplier&#x2019;s capabilities could have an adverse impact on the Company&#x2019;s business. Management believes it could identify alternative suppliers, if necessary, but it is possible such suppliers may not be identified in a timely manner to avoid an adverse impact on the Company&#x2019;s business.</div></div></div></div></div></div></div></div>
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IssuanceOfStockAndWarrantsForServicesOrClaims
300000
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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2255864
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
-6867000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
173000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
148000
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
234000
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
149000
CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
84000
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
62000
CY2015Q4 us-gaap Other Liabilities Current
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103000
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
-11187000
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6898000
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2213000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
-11328000
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-7890000
CY2015 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
CY2014 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
164000
CY2015Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
1105000
CY2014Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
CY2015 us-gaap Operating Expenses
OperatingExpenses
13725000
CY2014 us-gaap Operating Expenses
OperatingExpenses
11187000
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
12902000
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8089000
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2468000
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1989000
CY2013Q3 us-gaap Litigation Settlement Amount
LitigationSettlementAmount
350000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12706000
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7397000
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-95000
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-274000
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
80000
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
24000
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
109000
CY2015 us-gaap Paid In Kind Interest
PaidInKindInterest
132000
CY2014 us-gaap Paid In Kind Interest
PaidInKindInterest
1007000
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1200000
CY2015 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
363000
CY2014 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
123000
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
266000
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
321000
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
399000
CY2015 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 3.3pt 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Reclassifications</div></div></div><div style=" font-size: 10pt; margin: 0pt 3.3pt 0pt 0">&nbsp;</div><div style=" font-size: 10pt; text-indent: 0.25in; margin: 0pt 0">Reclassifications of certain operating expenses in the consolidated statement of operations have been made to year ended December 31, 2014 to conform to the 2015 presentation.</div></div></div></div></div></div></div></div>
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7800000
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
13095000
CY2014 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2014Q1 us-gaap Proceeds From Legal Settlements
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250000
CY2015Q1 us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
100000
CY2014 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
795000
CY2015 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
50000
CY2014 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1892000
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1769000
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1153000
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1214000
CY2015 us-gaap Provision For Doubtful Accounts
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33000
CY2014 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
177000
CY2015 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
76000
CY2014 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
42000
CY2015 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1002000
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
347000
CY2014 us-gaap Royalty Expense
RoyaltyExpense
30000
CY2015 us-gaap Royalty Expense
RoyaltyExpense
30000
CY2015Q4 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
30000
CY2015 us-gaap Sales Revenue Net
SalesRevenueNet
2538000
CY2014 us-gaap Sales Revenue Net
SalesRevenueNet
4320000
CY2015 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
363000
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-17968000
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6640000
CY2015 us-gaap Revenues
Revenues
5706000
CY2014 us-gaap Revenues
Revenues
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CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8091899
CY2015Q4 us-gaap Security Deposit
SecurityDeposit
15000
CY2014Q4 us-gaap Security Deposit
SecurityDeposit
43000
CY2015 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2559000
CY2014 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
717000
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
3015000
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
4298000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
695260
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
78009
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.20
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
33833
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
513400
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
631567
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
152000
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.53
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.28
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
631567
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.28
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.14
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.60
CY2015Q1 us-gaap Share Price
SharePrice
2.80
CY2014Q2 us-gaap Share Price
SharePrice
10
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P9Y36D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y146D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y146D
CY2014Q2 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
2932629
CY2015Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
3214285
CY2014 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
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CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5844000
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
10410000
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
5991000
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div></div><div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div><div style=" font-size: 10pt; text-indent: 0.25in; margin: 0pt 0">The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (&#x201c;GAAP&#x201d;). The preparation of financial statements in conformity with GAAP requires management to make judgments, assumptions and estimates that affect the amounts reported in the Company&#x2019;s consolidated financial statements and accompanying notes. Significant estimates in the consolidated financial statements have been made for revenue, accounts receivable and allowance for doubtful accounts, accounting for income taxes, depreciation of property and equipment and stock-based compensation. Actual results could differ materially from those estimates.</div></div></div></div></div></div></div></div></div></div></div></div></div>

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