$ZVSA
ZyVersa Therapeutics, Inc.

2023 Q2 Form 10-Q Financial Statement

#000149315223016480 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.930M $3.540M
YoY Change 238.79% 53.91%
% of Gross Profit
Research & Development $1.221M $1.056M
YoY Change 69.52% -1.31%
% of Gross Profit
Depreciation & Amortization $10.00K $2.600K
YoY Change 0.0%
% of Gross Profit
Operating Expenses $86.33M $4.592M
YoY Change 17208.27% 473.26%
Operating Profit -$86.33M -$4.592M
YoY Change 17208.2%
Interest Expense $0.00 $0.00
YoY Change -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$86.33M -$4.590M
YoY Change 21830.02% 537.49%
Income Tax -$7.812M -$1.047M
% Of Pretax Income
Net Earnings -$78.51M -$3.500M
YoY Change 19845.46% 386.11%
Net Earnings / Revenue
Basic Earnings Per Share -$4.84 -$0.39
Diluted Earnings Per Share -$4.84 -$0.39
COMMON SHARES
Basic Shares Outstanding 20.23M shares 9.212M shares
Diluted Shares Outstanding 17.86M shares 26.08K shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $1.300M
YoY Change -41.18% 56.59%
Cash & Equivalents $228.7K $1.278M
Short-Term Investments
Other Short-Term Assets $900.0K $1.500M
YoY Change 297.3% 566.67%
Inventory
Prepaid Expenses $886.9K $1.322M
Receivables
Other Receivables
Total Short-Term Assets $1.116M $2.835M
YoY Change 96.91% 168.63%
LONG-TERM ASSETS
Property, Plant & Equipment $12.13K $14.73K
YoY Change
Goodwill $11.90M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $30.81M $100.1M
YoY Change 30040.06% 59735.19%
Total Long-Term Assets $30.87M $112.1M
YoY Change -60.75% 42.61%
TOTAL ASSETS
Total Short-Term Assets $1.116M $2.835M
Total Long-Term Assets $30.87M $112.1M
Total Assets $31.99M $115.0M
YoY Change -59.62% 44.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.144M $6.381M
YoY Change 93.91% 99.41%
Accrued Expenses $2.281M $2.113M
YoY Change 194.15% 155.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.48M $8.578M
YoY Change 1252.05% 935.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.48M $8.578M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $11.93M $17.86M
YoY Change 187.35% 324.78%
SHAREHOLDERS EQUITY
Retained Earnings -$87.00M -$8.500M
YoY Change 2479.79%
Common Stock $2.367K $922.00
YoY Change 7296.88%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.168K
YoY Change
Treasury Stock Shares
Shareholders Equity $20.06M $97.10M
YoY Change
Total Liabilities & Shareholders Equity $31.99M $115.0M
YoY Change -59.62% 44.28%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$78.51M -$3.500M
YoY Change 19845.46% 386.11%
Depreciation, Depletion And Amortization $10.00K $2.600K
YoY Change 0.0%
Cash From Operating Activities -$410.0K -$4.600M
YoY Change -16.36% 4585.75%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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 -650.0K -$34.67K
YoY Change -101.29%
NET CHANGE
Cash From Operating Activities -410.0K -$4.600M
Cash From Investing Activities
Cash From Financing Activities -650.0K -$34.67K
Net Change In Cash -1.060M -$4.624M
YoY Change 116.25% 4610.32%
FREE CASH FLOW
Cash From Operating Activities -$410.0K -$4.600M
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_84F_eus-gaap--UseOfEstimates_zZeRcqqauIV6" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_867_zN1GXSydjOZ8">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and the amounts disclosed in the related notes to the financial statements. The Company bases its estimates and judgments on historical experience and on various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities reported in the Company’s balance sheets and the amounts of expenses reported for each of the periods presented are affected by estimates and assumptions, which are used for, but not limited to, fair value calculations for equity securities, derivative liabilities, share based compensation and acquired intangible assets, as well as establishment of valuation allowances for deferred tax assets. Certain of the Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ZYVERSA THERAPEUTICS, INC.</span></p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to Condensed Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
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CY2023Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
106683 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
106683 usd
CY2023Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
764590 usd
CY2023Q1 us-gaap Other Liabilities
OtherLiabilities
398019 usd
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
2112812 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
2053559 usd
CY2023Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
0 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
0 usd
CY2023Q1 us-gaap Financial Designation Predecessor And Successor Fixed List
FinancialDesignationPredecessorAndSuccessorFixedList
Successor
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1047051 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2281 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2281 pure
CY2023Q1 ZVSA Milestone Payment Description
MilestonePaymentDescription
On February 28, 2023, the Company and L&F executed an Amendment and Restatement Agreement that waives L&F’s right to terminate the L&F License or any other remedies, for non-payment of the First Milestone Payment, until (a) March 31, 2023 as to $1,000,000 of such milestone payments (“Waiver A”) and (b) January 31, 2024 as to $500,000 milestone payments (“Waiver B”).
CY2023Q1 us-gaap Financial Designation Predecessor And Successor Fixed List
FinancialDesignationPredecessorAndSuccessorFixedList
Successor
CY2023Q1 ZVSA Operating Lease Asset Amortization
OperatingLeaseAssetAmortization
38415 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
24248 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y10M2D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065 pure
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y3M18D
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1783531 shares
CY2023Q1 ZVSA Percentage Of Registration Delay Payments
PercentageOfRegistrationDelayPayments
0.015 pure
CY2023Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.020 pure
CY2023Q1 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
398000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
87054 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2547 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
84507 usd
CY2023Q1 us-gaap Financial Designation Predecessor And Successor Fixed List
FinancialDesignationPredecessorAndSuccessorFixedList
Successor
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
287461 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1595639 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y7M6D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
ten-year
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
100000 shares
CY2023Q1 us-gaap Financial Designation Predecessor And Successor Fixed List
FinancialDesignationPredecessorAndSuccessorFixedList
Successor
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
184426 usd
CY2023Q1 ZVSA Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageRemainingContractualTerm1
P3Y
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
2.11
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
ten-year
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
13000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
23770 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
2.26
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
13000 shares
CY2023Q1 us-gaap Shares Issued
SharesIssued
5000 shares
CY2023Q1 us-gaap Financial Designation Predecessor And Successor Fixed List
FinancialDesignationPredecessorAndSuccessorFixedList
Successor
CY2022Q1 us-gaap Financial Designation Predecessor And Successor Fixed List
FinancialDesignationPredecessorAndSuccessorFixedList
Predecessor
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1993235 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.81
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
113000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.13
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2106235 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.35
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M6D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1783531 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
10.18
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y3M18D
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
2106235 shares

Files In Submission

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FilingSummary.xml Edgar Link unprocessable
0001493152-23-016480-index-headers.html Edgar Link pending
0001493152-23-016480-index.html Edgar Link pending
0001493152-23-016480.txt Edgar Link pending
0001493152-23-016480-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
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zvsa-20230331.xsd Edgar Link pending
zvsa-20230331_def.xml Edgar Link unprocessable
zvsa-20230331_lab.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
zvsa-20230331_pre.xml Edgar Link unprocessable