2019 Q2 Form 10-Q Financial Statement

#000143774919016596 Filed on August 13, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.990M $3.420M
YoY Change -12.57% -4.2%
% of Gross Profit
Research & Development $4.803M $10.49M
YoY Change -54.2% 125.55%
% of Gross Profit
Depreciation & Amortization $70.00K $90.00K
YoY Change -22.22% 12.5%
% of Gross Profit
Operating Expenses $7.792M $13.91M
YoY Change -43.97% 69.11%
Operating Profit -$7.792M -$13.91M
YoY Change -43.97% 69.11%
Interest Expense $1.232M $1.419M
YoY Change -13.18% -1.66%
% of Operating Profit
Other Income/Expense, Net -$1.474M $3.876M
YoY Change -138.03% 127.6%
Pretax Income -$9.266M -$10.03M
YoY Change -7.64% 53.84%
Income Tax -$9.000K -$39.00K
% Of Pretax Income
Net Earnings -$9.257M -$9.993M
YoY Change -7.37% 53.34%
Net Earnings / Revenue
Basic Earnings Per Share -$0.33 -$0.65
Diluted Earnings Per Share -$0.33 -$0.91
COMMON SHARES
Basic Shares Outstanding 28.39M 15.32M
Diluted Shares Outstanding 28.39M 16.55M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.300M $28.20M
YoY Change -74.11% -47.29%
Cash & Equivalents $7.308M $16.50M
Short-Term Investments $0.00 $11.70M
Other Short-Term Assets $1.300M $2.700M
YoY Change -51.85% 42.11%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.640M $30.91M
YoY Change -72.05% -44.17%
LONG-TERM ASSETS
Property, Plant & Equipment $1.613M $1.841M
YoY Change -12.38% -14.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $548.0K $1.250M
YoY Change -56.16% 289.41%
Total Long-Term Assets $4.369M $3.091M
YoY Change 41.35% -77.41%
TOTAL ASSETS
Total Short-Term Assets $8.640M $30.91M
Total Long-Term Assets $4.369M $3.091M
Total Assets $13.01M $34.00M
YoY Change -61.74% -50.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.900M $14.00M
YoY Change -43.57% 122.22%
Accrued Expenses $400.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.700M $3.500M
YoY Change 91.43% 1650.0%
Total Short-Term Liabilities $14.98M $17.60M
YoY Change -14.93% 167.04%
LONG-TERM LIABILITIES
Long-Term Debt $75.80M $87.30M
YoY Change -13.17% -5.11%
Other Long-Term Liabilities $296.0K $743.0K
YoY Change -60.16% -49.52%
Total Long-Term Liabilities $296.0K $743.0K
YoY Change -60.16% -49.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.98M $17.60M
Total Long-Term Liabilities $296.0K $743.0K
Total Liabilities $94.56M $117.5M
YoY Change -19.56% 8.51%
SHAREHOLDERS EQUITY
Retained Earnings -$242.7M -$200.9M
YoY Change 20.8% 39.37%
Common Stock $161.2M $117.4M
YoY Change 37.31% 11.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$81.55M -$83.55M
YoY Change
Total Liabilities & Shareholders Equity $13.01M $34.00M
YoY Change -61.74% -50.76%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$9.257M -$9.993M
YoY Change -7.37% 53.34%
Depreciation, Depletion And Amortization $70.00K $90.00K
YoY Change -22.22% 12.5%
Cash From Operating Activities -$7.340M -$9.150M
YoY Change -19.78% 41.42%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $15.68M
YoY Change -100.0% 157.89%
Cash From Investing Activities $0.00 $15.68M
YoY Change -100.0% 159.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.180M 1.220M
YoY Change -3.28% -2133.33%
NET CHANGE
Cash From Operating Activities -7.340M -9.150M
Cash From Investing Activities 0.000 15.68M
Cash From Financing Activities 1.180M 1.220M
Net Change In Cash -6.160M 7.750M
YoY Change -179.48% -1681.63%
FREE CASH FLOW
Cash From Operating Activities -$7.340M -$9.150M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$7.340M -$9.150M
YoY Change -19.78% 42.3%

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CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2019Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2018Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2019Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26455352
CY2019Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2019Q2 us-gaap Common Stock Value
CommonStockValue
3000
CY2018Q4 us-gaap Common Stock Value
CommonStockValue
3000
CY2019Q2 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
75551000
CY2018Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
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CY2019Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
6497000
CY2018Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
3333000
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
3502000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
153000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
166000
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.65
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.78
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.41
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.91
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.78
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.41
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-432000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
4179000
CY2019Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
21000
CY2018Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-5562000
CY2019Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1421000
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
17450000
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1845000
CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7709000
CY2019Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1437000
CY2018Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
11888000
CY2019Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
22000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
22000
CY2019Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
506000
CY2019Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
553000
CY2019Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1852000
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4803000
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10488000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13334000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
22125000
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
490000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
710000
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-242740000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-221192000
CY2019Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
737000
us-gaap Share Based Compensation
ShareBasedCompensation
2607000
us-gaap Share Based Compensation
ShareBasedCompensation
2659000
CY2019Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
58000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
115000
us-gaap Short Term Lease Payments
ShortTermLeasePayments
115000
CY2019Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
81720
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2018Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
22375
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
23682
CY2019Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2018Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2798000
CY2018Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1194000
CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2721000
CY2019Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1229000
CY2018Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
68000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
-81547000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
-66566000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-57516000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
-79683000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
-83545000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
-74836000
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
25000
us-gaap Sublease Income
SubleaseIncome
50000
CY2018Q2 us-gaap Undistributed Earnings
UndistributedEarnings
-9993000
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28386119
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16548751
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=" margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Use of Estimates</div></div></div> <div style=" margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">The preparation of financial statements in conformity with GAAP&nbsp;requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</div> <div style=" margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">On an ongoing basis, the Company evaluates its estimates, including those related to the useful lives of property and equipment, and assumptions used for purposes of determining stock-based compensation, income taxes, and the fair value of the derivative and warrant liability, 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.</div></div></div></div></div></div>
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
6000
us-gaap Variable Lease Cost
VariableLeaseCost
21000
us-gaap Variable Lease Payment
VariableLeasePayment
21000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27548657
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15056161
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28386119
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15317536
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27548657
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15056161
CY2019Q2 kmph Finance Lease Cost Total
FinanceLeaseCostTotal
41000
kmph Fixed Assets Included In Accounts Payable And Accrued Expenses
FixedAssetsIncludedInAccountsPayableAndAccruedExpenses
kmph Fixed Assets Included In Accounts Payable And Accrued Expenses
FixedAssetsIncludedInAccountsPayableAndAccruedExpenses
3000
kmph Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
2442000
kmph Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
kmph Increase Decrease In Operating Lease Rightofuse Asset
IncreaseDecreaseInOperatingLeaseRightofuseAsset
1718000
kmph Increase Decrease In Operating Lease Rightofuse Asset
IncreaseDecreaseInOperatingLeaseRightofuseAsset
CY2019Q1 kmph Increase In Common Stock Reserved For Issuance
IncreaseInCommonStockReservedForIssuance
1058214
kmph Finance Lease Cost Total
FinanceLeaseCostTotal
83000
kmph Lessee Lease Option To Extend Maximum Term
LesseeLeaseOptionToExtendMaximumTerm
P5Y
kmph Lessee Lease Option To Terminate Term
LesseeLeaseOptionToTerminateTerm
P1Y
CY2019Q2 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
CY2018Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
214000
CY2019Q2 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7798000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17597000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11321000
CY2018Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
396000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7308000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18409000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
19119000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11971000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5626000
CY2019Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2018Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies

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