2023 Q1 Form 10-Q Financial Statement

#000149315223004156 Filed on February 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2021 Q4
Revenue $0.00
YoY Change
Cost Of Revenue $310.0K $68.00K
YoY Change
Gross Profit -$310.0K -$68.00K
YoY Change
Gross Profit Margin
Selling, General & Admin $9.550M $8.941M $4.943M
YoY Change 53.54% 80.88% 100.12%
% of Gross Profit
Research & Development $4.130M $5.000M $2.543M
YoY Change 11.29% 96.62% -22.71%
% of Gross Profit
Depreciation & Amortization $246.0K $256.0K $80.00K
YoY Change 89.23% 220.0% 14.29%
% of Gross Profit
Operating Expenses $13.67M $13.94M $7.486M
YoY Change 37.65% 86.23% 29.74%
Operating Profit -$13.98M -$14.01M -$7.486M
YoY Change 87.15%
Interest Expense $770.0K $46.00K -$65.00K
YoY Change -242.59% -170.77% -56.67%
% of Operating Profit
Other Income/Expense, Net -$320.0K $211.0K -$411.0K
YoY Change -32100.0% -151.34%
Pretax Income -$21.15M -$13.80M -$7.962M
YoY Change 2.36% 73.31% 37.99%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$20.17M -$12.75M -$7.739M
YoY Change 0.83% 64.71% 34.12%
Net Earnings / Revenue
Basic Earnings Per Share -$0.43 -$0.29
Diluted Earnings Per Share -$0.67 -$0.43 -$288.5K
COMMON SHARES
Basic Shares Outstanding 30.09M shares 29.92M shares 26.82M shares
Diluted Shares Outstanding 29.92M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.88M $53.12M $83.47M
YoY Change -42.82% -36.36% 279.06%
Cash & Equivalents $29.16M $25.48M $83.47M
Short-Term Investments $16.72M $27.64M
Other Short-Term Assets $11.75M $11.36M $10.39M
YoY Change -2.9% 9.34% 918.92%
Inventory $1.129M $955.0K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $59.41M $66.02M $94.68M
YoY Change -36.08% -30.28% 310.24%
LONG-TERM ASSETS
Property, Plant & Equipment $5.003M $3.624M $4.071M
YoY Change 150.78% -10.98% 210.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $212.0K $211.0K $210.0K
YoY Change 2.42% 0.48% 425.0%
Total Long-Term Assets $9.339M $7.944M $4.627M
YoY Change 49.33% 71.69% 165.92%
TOTAL ASSETS
Total Short-Term Assets $59.41M $66.02M $94.68M
Total Long-Term Assets $9.339M $7.944M $4.627M
Total Assets $68.75M $73.96M $99.31M
YoY Change -30.7% -25.53% 300.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.016M $1.411M $1.611M
YoY Change 78.57% -12.41% 32.05%
Accrued Expenses $16.61M $9.777M $4.567M
YoY Change 98.39% 114.08% 200.46%
Deferred Revenue
YoY Change
Short-Term Debt $695.0K $60.00K $0.00
YoY Change -25.03%
Long-Term Debt Due $80.00K
YoY Change
Total Short-Term Liabilities $19.78M $11.60M $6.178M
YoY Change 84.65% 87.71% 113.77%
LONG-TERM LIABILITIES
Long-Term Debt $120.0K $140.0K $200.0K
YoY Change -40.0% -30.0% -95.5%
Other Long-Term Liabilities $6.821M $6.782M $2.162M
YoY Change -32.32% 213.69% 672.14%
Total Long-Term Liabilities $6.941M $6.922M $2.362M
YoY Change -32.47% 193.06% -49.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.78M $11.60M $6.178M
Total Long-Term Liabilities $6.941M $6.922M $2.362M
Total Liabilities $26.72M $18.52M $14.32M
YoY Change 27.3% 29.35% 88.13%
SHAREHOLDERS EQUITY
Retained Earnings -$179.5M -$159.3M
YoY Change 45.18%
Common Stock $3.000K $3.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $25.00K $25.00K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $37.92M $50.95M $84.99M
YoY Change
Total Liabilities & Shareholders Equity $68.75M $73.96M $99.31M
YoY Change -30.7% -25.53% 300.12%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2021 Q4
OPERATING ACTIVITIES
Net Income -$20.17M -$12.75M -$7.739M
YoY Change 0.83% 64.71% 34.12%
Depreciation, Depletion And Amortization $246.0K $256.0K $80.00K
YoY Change 89.23% 220.0% 14.29%
Cash From Operating Activities -$8.440M -$8.510M -$6.337M
YoY Change 6.85% 34.29% 20.48%
INVESTING ACTIVITIES
Capital Expenditures $2.022M $634.0K -$419.0K
YoY Change -691.23% -251.31% 199.29%
Acquisitions
YoY Change
Other Investing Activities $10.88M $5.022M $0.00
YoY Change 362633.33%
Cash From Investing Activities $8.860M $4.388M -$419.0K
YoY Change -2713.57% -1147.26% 199.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $200.0K
YoY Change
Cash From Financing Activities 3.409M -310.0K 50.71M
YoY Change -39.86% -100.61% 789.72%
NET CHANGE
Cash From Operating Activities -8.440M -8.510M -6.337M
Cash From Investing Activities 8.860M 4.388M -419.0K
Cash From Financing Activities 3.409M -310.0K 50.71M
Net Change In Cash 3.829M -4.432M 43.96M
YoY Change -248.99% -110.08% 14552.67%
FREE CASH FLOW
Cash From Operating Activities -$8.440M -$8.510M -$6.337M
Capital Expenditures $2.022M $634.0K -$419.0K
Free Cash Flow -$10.46M -$9.144M -$5.918M
YoY Change 38.44% 54.51% 15.59%

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CY2022Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-184000 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
159000 usd
CY2022Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-12931000 usd
CY2021Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-7739000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-35490000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-23174000 usd
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.43
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.95
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29921254 shares
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26822302 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29902694 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24319771 shares
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
78209000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4624000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
172000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-11654000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
71351000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
71351000 usd
CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
214000 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4714000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
171000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-12797000 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
63652000 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
63652000 usd
CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5866000 usd
CY2022Q4 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-280000 usd
CY2022Q4 us-gaap Profit Loss
ProfitLoss
-13798000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
55440000 usd
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
30464000 usd
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
7482000 usd
CY2021Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
1031000 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1216000 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
33450000 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
33450000 usd
CY2021Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
14958000 usd
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
50000 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1155000 usd
CY2021Q3 us-gaap Profit Loss
ProfitLoss
-8692000 usd
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
40921000 usd
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
40921000 usd
CY2021Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
14049000 usd
CY2021Q4 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
10107000 usd
CY2021Q4 XAIR Stock Issued During Period Value Exerciseof Warrants
StockIssuedDuringPeriodValueExerciseofWarrants
1391000 usd
CY2021Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
149000 usd
CY2021Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2116000 usd
CY2022Q4 us-gaap Due From Related Parties
DueFromRelatedParties
1100000 usd
CY2021Q4 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
30000000 usd
CY2021Q4 us-gaap Profit Loss
ProfitLoss
-7962000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
90771000 usd
us-gaap Profit Loss
ProfitLoss
-38250000 usd
us-gaap Profit Loss
ProfitLoss
-23397000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
439000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
193000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
154000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
29000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
15204000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4487000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
528000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
237000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
166000 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
38000 usd
XAIR Foreign Currency Adjustments
ForeignCurrencyAdjustments
144000 usd
XAIR Foreign Currency Adjustments
ForeignCurrencyAdjustments
-7000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
235000 usd
us-gaap Provision For Other Losses
ProvisionForOtherLosses
49000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
33000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-233000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
607000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-491000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
254000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-338000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
286000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2256000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2501000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24569000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15234000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
32777000 usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
5188000 usd
XAIR Payments To Security Deposits Made On Operating Leases
PaymentsToSecurityDepositsMadeOnOperatingLeases
4000 usd
XAIR Payments To Security Deposits Made On Operating Leases
PaymentsToSecurityDepositsMadeOnOperatingLeases
73000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1855000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1038000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
77400 shares
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-29447000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1111000 usd
XAIR Proceeds From Issuance Of Common Stock In Connection With Purchase Agreement
ProceedsFromIssuanceOfCommonStockInConnectionWithPurchaseAgreement
11138000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
214000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
36489000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1391000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25200000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
199000 usd
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
927000 usd
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
635000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-713000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
73783000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
63000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-54667000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
57439000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
90230000 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
35268000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
35563000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
92707000 usd
XAIR Rightofuse Assets
RightofuseAssets
466000 usd
XAIR Rightofuse Assets
RightofuseAssets
602000 usd
XAIR Operating Lease Liabilities
OperatingLeaseLiabilities
466000 usd
XAIR Operating Lease Liabilities
OperatingLeaseLiabilities
602000 usd
XAIR Accelerated Amortization Of Debt Discount Costs On Retirement Of Debt
AcceleratedAmortizationOfDebtDiscountCostsOnRetirementOfDebt
390000 usd
us-gaap Interest Paid Net
InterestPaidNet
25000 usd
us-gaap Interest Paid Net
InterestPaidNet
334000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
87000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
68000 usd
CY2022Q4 XAIR Accrued Agreement
AccruedAgreement
1500000 usd
CY2022Q1 XAIR Accrued Agreement
AccruedAgreement
1500000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
169000 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84F_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zYX9u4c5gJqd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zcyO58dM6E1c">Reclassifications</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on the reported results of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zCCobEzMdZ8e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_z92K4zvXkB5h">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its significant estimates including accruals for expenses under consulting, licensing agreements, and clinical trials, stock-based compensation, contingency recognition and the determination of deferred tax attributes and the valuation allowance thereon.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p>
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24600000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-159300000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
10100000 usd
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
10000000.0 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
7400000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
7400000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25478000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
80242000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
10085000 usd
CY2022Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
9988000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
35563000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
90230000 usd
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
27641000 usd
CY2022Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
63204000 usd
CY2022Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
90230000 usd
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
82000 usd
CY2022Q4 XAIR Total Shortterm Accrued Expense
TotalShorttermAccruedExpense
9777000 usd
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
27641000 usd
XAIR Marketable Securities Current Unrealized Loss
MarketableSecuritiesCurrentUnrealizedLoss
38000 usd
CY2022Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
0 usd
CY2022Q2 XAIR Tax Rebate
TaxRebate
182000 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
949600 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
6.92
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
180100 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
6.39
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
769500 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
7.04
CY2022Q4 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
588000 usd
CY2021Q4 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
930000 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1983000 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1249000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4684000 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2762000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1059000 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
767000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3624000 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1995000 usd
CY2022Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
204000 usd
CY2021Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
70000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
439000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
193000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2022Q4 us-gaap Share Based Compensation
ShareBasedCompensation
5866000 usd
CY2021Q4 us-gaap Share Based Compensation
ShareBasedCompensation
2116000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
15204000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4487000 usd
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
460520 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
6.08
CY2022Q4 XAIR Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1 Intrinsic Value
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue
352 usd
CY2022Q1 XAIR Total Shortterm Accrued Expense
TotalShorttermAccruedExpense
8374000 usd
CY2022Q4 XAIR Accrued Settlement Payments Due
AccruedSettlementPaymentsDue
4500000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1500000 usd
CY2022Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2044000 usd
CY2022Q4 XAIR Vendors Research And Development
VendorsResearchAndDevelopment
522000 usd
CY2022Q1 XAIR Vendors Research And Development
VendorsResearchAndDevelopment
1006000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
226000 usd
CY2022Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
442000 usd
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1058000 usd
CY2022Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
409000 usd
CY2022Q4 XAIR Accruals For Contingent Liabilities
AccrualsForContingentLiabilities
2803000 usd
CY2022Q1 XAIR Accruals For Contingent Liabilities
AccrualsForContingentLiabilities
2435000 usd
CY2022Q4 XAIR Accrued Settlement
AccruedSettlement
3500000 usd
CY2022Q1 XAIR Accrued Settlement
AccruedSettlement
2500000 usd
CY2022Q1 XAIR Accrued Settlement Payments Due
AccruedSettlementPaymentsDue
8000000 usd
CY2022Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
4500000 usd
CY2022Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
8000000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6875151 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6926462 shares
CY2021Q2 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
10500000 usd
CY2021Q2 us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
6000000 usd
CY2022Q4 XAIR Outstanding Amount Under Purchase
OutstandingAmountUnderPurchase
4100000 usd
CY2021Q4 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
5800000 usd
CY2021Q4 XAIR Collateral Amount
CollateralAmount
7400000 usd
CY2021Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
2400000 usd
CY2022Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
2600000 usd
CY2021Q4 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
2600000 usd
CY2022Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
200000 usd
CY2021Q4 XAIR Amount Of Terminated Loan
AmountOfTerminatedLoan
4800000 usd

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0001493152-23-004156.txt Edgar Link pending
0001493152-23-004156-xbrl.zip Edgar Link pending
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