$VTVT
vTv Therapeutics Inc.

2017 Q1 Form 10-Q Financial Statement

#000156459017008420 Filed on May 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $30.00K $376.0K
YoY Change -92.02% 652.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.820M $2.580M
YoY Change 9.3% 29.0%
% of Gross Profit
Research & Development $10.96M $11.14M
YoY Change -1.62% 43.2%
% of Gross Profit
Depreciation & Amortization $52.00K $79.00K
YoY Change -34.18% -40.6%
% of Gross Profit
Operating Expenses $13.78M $13.92M
YoY Change -0.95% 42.42%
Operating Profit -$13.75M -$13.54M
YoY Change 1.58% 39.29%
Interest Expense $559.0K $2.000K
YoY Change 27850.0% -104.44%
% of Operating Profit
Other Income/Expense, Net $0.00 -$1.000K
YoY Change -100.0% -100.15%
Pretax Income -$14.29M -$13.52M
YoY Change 5.67% 37.78%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.220M -$3.852M
YoY Change 9.55% -60.75%
Net Earnings / Revenue -14066.67% -1024.47%
Basic Earnings Per Share
Diluted Earnings Per Share -$435.5K -$417.1K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.20M $75.50M
YoY Change -40.13% 9337.5%
Cash & Equivalents $45.15M $75.50M
Short-Term Investments
Other Short-Term Assets $800.0K $1.300M
YoY Change -38.46% 225.0%
Inventory
Prepaid Expenses
Receivables $0.00 $200.0K
Other Receivables $0.00
Total Short-Term Assets $45.90M $77.10M
YoY Change -40.47% 4183.33%
LONG-TERM ASSETS
Property, Plant & Equipment $400.0K $500.0K
YoY Change -20.0% -86.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.000M $1.900M
YoY Change 5.26% -5.0%
Total Long-Term Assets $2.400M $2.500M
YoY Change -4.0% -81.06%
TOTAL ASSETS
Total Short-Term Assets $45.90M $77.10M
Total Long-Term Assets $2.400M $2.500M
Total Assets $48.30M $79.60M
YoY Change -39.32% 430.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.10M $8.600M
YoY Change 29.07% -2.27%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.10M $8.700M
YoY Change 27.59% -81.65%
LONG-TERM LIABILITIES
Long-Term Debt $18.80M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $300.0K $200.0K
YoY Change 50.0% -99.32%
Total Long-Term Liabilities $19.10M $200.0K
YoY Change 9450.0% -99.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.10M $8.700M
Total Long-Term Liabilities $19.10M $200.0K
Total Liabilities $171.8M $142.6M
YoY Change 20.48% 66.78%
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 -$123.5M -$63.00M
YoY Change
Total Liabilities & Shareholders Equity $48.30M $79.60M
YoY Change -39.32% 430.67%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income -$4.220M -$3.852M
YoY Change 9.55% -60.75%
Depreciation, Depletion And Amortization $52.00K $79.00K
YoY Change -34.18% -40.6%
Cash From Operating Activities -$13.82M -$12.50M
YoY Change 10.56% 33.4%
INVESTING ACTIVITIES
Capital Expenditures $39.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$40.00K $0.00
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 7.500M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -13.82M -12.50M
Cash From Investing Activities -40.00K 0.000
Cash From Financing Activities 7.500M 0.000
Net Change In Cash -6.360M -12.50M
YoY Change -49.12% 1949.18%
FREE CASH FLOW
Cash From Operating Activities -$13.82M -$12.50M
Capital Expenditures $39.00K $0.00
Free Cash Flow -$13.86M -$12.50M
YoY Change 10.87% 33.35%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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DeferredRevenueCurrent
21000
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ResearchAndDevelopmentExpense
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CY2016Q1 us-gaap Research And Development Expense
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CY2016Q1 vtvt Research And Development Expense Related Party
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CY2017Q1 us-gaap General And Administrative Expense
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CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
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CY2016Q1 us-gaap Operating Expenses
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CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-13754000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000
CY2017Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2016Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2017Q1 us-gaap Interest Expense
InterestExpense
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CY2016Q1 us-gaap Interest Expense
InterestExpense
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CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-14286000
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-39000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-13520000
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017Q1 us-gaap Profit Loss
ProfitLoss
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CY2016Q1 us-gaap Profit Loss
ProfitLoss
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CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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-10066000
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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-9668000
CY2017Q1 us-gaap Net Income Loss
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-4220000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-3852000
CY2017Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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739000
CY2017Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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167000
CY2017Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-29210000
CY2017Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-5000
CY2017Q1 us-gaap Depreciation
Depreciation
52000
CY2016Q1 us-gaap Depreciation
Depreciation
79000
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
739000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
607000
CY2017Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
203000
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
137000
CY2017Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
170000
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
232000
CY2016Q1 us-gaap Increase Decrease In Due From Employee Current
IncreaseDecreaseInDueFromEmployeeCurrent
-25000
CY2017Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
37000
CY2016Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
264000
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-308000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1328000
CY2016Q1 vtvt Increase Decrease In Accounts Payable And Accrued Liabilities Related Parties
IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesRelatedParties
-258000
CY2017Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-17000
CY2016Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-122000
CY2017Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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CY2016Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-8000
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-12502000
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
39000
CY2017Q1 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
7500000
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
7500000
CY2017Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-6355000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2016Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
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CY2017Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2016Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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CY2017Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;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 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-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On an ongoing basis, the Company evaluates its estimates, including those related to the grant date fair value of equity awards, the fair value of the Class B Common Stock, the useful lives of property and equipment, the fair value of derivative liabilities, and the fair value of the Company&#8217;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>
CY2017Q1 us-gaap Concentration Risk Credit Risk
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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">There were no accounts receivable balances outstanding as of March&#160;31, 2017 and December 31, 2016.&nbsp;&nbsp;</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">One and two customers represented 100% of the revenue earned during the three months ended March&#160;31, 2017 and 2016, respectively. </p></div>
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
4000
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
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CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
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CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
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CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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CY2017Q1 us-gaap Allocated Share Based Compensation Expense
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CY2016Q1 us-gaap Allocated Share Based Compensation Expense
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CY2017Q1 us-gaap Debt Instrument Carrying Amount
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CY2016Q4 us-gaap Debt Instrument Carrying Amount
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CY2017Q1 us-gaap Debt Instrument Unamortized Discount
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CY2016Q4 us-gaap Debt Instrument Unamortized Discount
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CY2017Q1 vtvt Redeemable Noncontrolling Interest Temporary Equity Redemption Value
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CY2016Q4 vtvt Redeemable Noncontrolling Interest Temporary Equity Redemption Value
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CY2017Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24468175

Files In Submission

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0001564590-17-008420.txt Edgar Link pending
0001564590-17-008420-xbrl.zip Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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vtvt-10q_20170331.htm Edgar Link pending
vtvt-20170331.xml Edgar Link completed
vtvt-20170331.xsd Edgar Link pending
vtvt-20170331_cal.xml Edgar Link unprocessable
vtvt-20170331_def.xml Edgar Link unprocessable
vtvt-20170331_lab.xml Edgar Link unprocessable
vtvt-20170331_pre.xml Edgar Link unprocessable
vtvt-ex101_354.htm Edgar Link pending
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