2015 Q2 Form 10-Q Financial Statement
#000119312515319398 Filed on September 14, 2015
Income Statement
| Concept | 2015 Q2 |
|---|---|
| Revenue | $110.0K |
| YoY Change | -45.27% |
| Cost Of Revenue | |
| YoY Change | |
| Gross Profit | |
| YoY Change | |
| Gross Profit Margin | |
| Selling, General & Admin | $2.300M |
| YoY Change | -19.58% |
| % of Gross Profit | |
| Research & Development | $5.146M |
| YoY Change | 13.35% |
| % of Gross Profit | |
| Depreciation & Amortization | $120.0K |
| YoY Change | -42.86% |
| % of Gross Profit | |
| Operating Expenses | $5.146M |
| YoY Change | -30.37% |
| Operating Profit | -$7.889M |
| YoY Change | 9.69% |
| Interest Expense | -$45.00K |
| YoY Change | -25.0% |
| % of Operating Profit | |
| Other Income/Expense, Net | -$1.680M |
| YoY Change | 1020.0% |
| Pretax Income | -$10.41M |
| YoY Change | 40.68% |
| Income Tax | |
| % Of Pretax Income | |
| Net Earnings | -$10.41M |
| YoY Change | 40.63% |
| Net Earnings / Revenue | -9465.45% |
| Basic Earnings Per Share | |
| Diluted Earnings Per Share | -$317.3K |
| COMMON SHARES | |
| Basic Shares Outstanding | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2015 Q2 |
|---|---|
| SHORT-TERM ASSETS | |
| Cash & Short-Term Investments | $2.400M |
| YoY Change | |
| Cash & Equivalents | $2.397M |
| Short-Term Investments | |
| Other Short-Term Assets | $300.0K |
| YoY Change | |
| Inventory | |
| Prepaid Expenses | |
| Receivables | $0.00 |
| Other Receivables | |
| Total Short-Term Assets | $2.700M |
| YoY Change | |
| LONG-TERM ASSETS | |
| Property, Plant & Equipment | $3.500M |
| YoY Change | |
| Goodwill | |
| YoY Change | |
| Intangibles | |
| YoY Change | |
| Long-Term Investments | |
| YoY Change | |
| Other Assets | $5.200M |
| YoY Change | |
| Total Long-Term Assets | $16.30M |
| YoY Change | |
| TOTAL ASSETS | |
| Total Short-Term Assets | $2.700M |
| Total Long-Term Assets | $16.30M |
| Total Assets | $19.00M |
| YoY Change | |
| SHORT-TERM LIABILITIES | |
| YoY Change | |
| Accounts Payable | $11.50M |
| YoY Change | |
| Accrued Expenses | |
| YoY Change | |
| Deferred Revenue | |
| YoY Change | |
| Short-Term Debt | $46.60M |
| YoY Change | |
| Long-Term Debt Due | $2.200M |
| YoY Change | |
| Total Short-Term Liabilities | $63.00M |
| YoY Change | |
| LONG-TERM LIABILITIES | |
| Long-Term Debt | $6.700M |
| YoY Change | |
| Other Long-Term Liabilities | $30.20M |
| YoY Change | |
| Total Long-Term Liabilities | $36.90M |
| YoY Change | |
| TOTAL LIABILITIES | |
| Total Short-Term Liabilities | $63.00M |
| Total Long-Term Liabilities | $36.90M |
| Total Liabilities | $99.90M |
| YoY Change | |
| SHAREHOLDERS EQUITY | |
| Retained Earnings | |
| YoY Change | |
| Common Stock | |
| YoY Change | |
| Preferred Stock | |
| YoY Change | |
| Treasury Stock (at cost) | |
| YoY Change | |
| Treasury Stock Shares | |
| Shareholders Equity | -$80.90M |
| YoY Change | |
| Total Liabilities & Shareholders Equity | $19.00M |
| YoY Change |
Cashflow Statement
| Concept | 2015 Q2 |
|---|---|
| OPERATING ACTIVITIES | |
| Net Income | -$10.41M |
| YoY Change | 40.63% |
| Depreciation, Depletion And Amortization | $120.0K |
| YoY Change | -42.86% |
| Cash From Operating Activities | -$8.780M |
| YoY Change | 21.27% |
| INVESTING ACTIVITIES | |
| Capital Expenditures | -$30.00K |
| YoY Change | 200.0% |
| Acquisitions | |
| YoY Change | |
| Other Investing Activities | |
| YoY Change | |
| Cash From Investing Activities | -$30.00K |
| YoY Change | 200.0% |
| FINANCING ACTIVITIES | |
| Cash Dividend Paid | |
| YoY Change | |
| Common Stock Issuance & Retirement, Net | |
| YoY Change | |
| Debt Paid & Issued, Net | |
| YoY Change | |
| Cash From Financing Activities | 10.44M |
| YoY Change | 19.86% |
| NET CHANGE | |
| Cash From Operating Activities | -8.780M |
| Cash From Investing Activities | -30.00K |
| Cash From Financing Activities | 10.44M |
| Net Change In Cash | 1.630M |
| YoY Change | 11.64% |
| FREE CASH FLOW | |
| Cash From Operating Activities | -$8.780M |
| Capital Expenditures | -$30.00K |
| Free Cash Flow | -$8.750M |
| YoY Change | 21.02% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2015Q2 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
|
2700000 | |
| CY2015Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
0 | |
| CY2015Q2 | us-gaap |
Fair Value Equity Level1 To Level2 Transfers Amount
FairValueEquityLevel1ToLevel2TransfersAmount
|
0 | |
| CY2014Q4 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
|
2800000 | |
| CY2015Q3 | us-gaap |
Key Provisions Of Operating Or Partnership Agreement Description
KeyProvisionsOfOperatingOrPartnershipAgreementDescription
|
One managing member unit, which represents no economic interests and has 100% of the voting power of vTv Therapeutics LLC | |
| vtvt |
Number Of Customers
NumberOfCustomers
|
2 | Customer | |
| dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
| us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.7800 | pure | |
| us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.022 | pure | |
| us-gaap |
Tax Credit Carryforward Description
TaxCreditCarryforwardDescription
|
The Tax Receivable Agreement between the Successor and vTv Therapeutics Holdings provides for the payment by the Successor to vTv Therapeutics Holdings (or certain of its transferees or other assignees) of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that the Successor actually realizes (or, in some circumstances, the Successor is deemed to realize) as a result of (a) the exchange of Class B common stock, together with the corresponding number of vTv Units, for shares of the Successor’s Class A common stock (or for cash), (b) tax benefits related to imputed interest deemed to be paid by the Successor as a result of the Tax Receivable Agreement and (c) certain tax benefits attributable to payments under the Tax Receivable Agreement. | ||
| dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2015 | ||
| dei |
Amendment Flag
AmendmentFlag
|
false | ||
| dei |
Document Type
DocumentType
|
10-Q | ||
| dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001641489 | ||
| dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
| us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Concentration of Credit Risk</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 8%"> Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash on deposit with multiple financial institutions. The balances of these cash accounts frequently exceed insured limits.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The accounts receivable balance at June 30, 2015 was $0.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> One customer represented 100% of the revenue earned during the six months ended June 30, 2015. Two customers represented 100% of the revenue during the six months ended June 30, 2014.</p> </div> | ||
| us-gaap |
Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Other Default Rate
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureOtherDefaultRate
|
0.002 | pure | |
| dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
| dei |
Entity Registrant Name
EntityRegistrantName
|
vTv Therapeutics Inc. | ||
| us-gaap |
Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Other Fair Value Volatility Rate
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureOtherFairValueVolatilityRate
|
0.653 | pure | |
| dei |
Document Period End Date
DocumentPeriodEndDate
|
2015-06-30 | ||
| us-gaap |
Fair Value Measurements Valuation Techniques
FairValueMeasurementsValuationTechniques
|
Through 2030 | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 8%"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> On an ongoing basis, the Company evaluates its estimates, including those related to the useful lives of property and equipment, the fair value of the Company’s membership units, the fair value of redeemable preferred units, the fair value of derivative liabilities, and the fair value of the Company’s debt, among others. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities.</p> </div> | ||
| us-gaap |
Key Provisions Of Operating Or Partnership Agreement Description
KeyProvisionsOfOperatingOrPartnershipAgreementDescription
|
Non-voting vTv Units, which represent economic interests | ||
| dei |
Trading Symbol
TradingSymbol
|
VTVT | ||
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | Segment | |
| us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
|
0 | ||
| vtvt |
Number Of Customers
NumberOfCustomers
|
1 | Customer | |
| vtvt |
Cash Payments On Repurchase Of Units Number Of Installments
CashPaymentsOnRepurchaseOfUnitsNumberOfInstallments
|
8 | Installments | |
| vtvt |
Distribution Made To Limited Liability Company Llc Member Distributions Payments Description
DistributionMadeToLimitedLiabilityCompanyLlcMemberDistributionsPaymentsDescription
|
This right is exercisable at the earlier to occur of (1) the maturity of the 2007 Note or (2) the date the Former Officer receives distribution payable payments under the Former Officer Agreement in excess of $30 million. |
