$ZVSA
ZyVersa Therapeutics, Inc.

2024 Q2 Form 10-Q Financial Statement

#000149315224019517 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.045M $2.314M $3.540M
YoY Change -47.97% -34.64% 53.91%
% of Gross Profit
Research & Development $709.0K $512.9K $1.056M
YoY Change -41.91% -51.42% -1.31%
% of Gross Profit
Depreciation & Amortization $2.600K $2.600K $2.600K
YoY Change -74.0% 0.0%
% of Gross Profit
Operating Expenses $2.754M $2.827M $4.592M
YoY Change -96.81% -38.45% 473.26%
Operating Profit -$2.754M -$2.827M -$4.592M
YoY Change -96.81% -38.45%
Interest Expense -$60.00 -$100.00 $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.754M -$2.827M -$4.590M
YoY Change -96.81% -38.42% 537.49%
Income Tax $9.707K -$1.047M
% Of Pretax Income
Net Earnings -$2.764M -$2.800M -$3.500M
YoY Change -96.48% -20.0% 386.11%
Net Earnings / Revenue
Basic Earnings Per Share -$3.31 -$4.53 -$0.39
Diluted Earnings Per Share -$3.31 -$4.53 -$0.39
COMMON SHARES
Basic Shares Outstanding 834.9K shares 7.595M shares 9.212M shares
Diluted Shares Outstanding 834.9K shares 623.6K shares 26.08K shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $119.5K $2.034M $1.300M
YoY Change -40.26% 56.43% 56.59%
Cash & Equivalents $119.5K $2.034M $1.278M
Short-Term Investments
Other Short-Term Assets $521.9K $866.5K $1.500M
YoY Change -42.01% -42.23% 566.67%
Inventory
Prepaid Expenses $1.322M
Receivables
Other Receivables
Total Short-Term Assets $641.4K $2.900M $2.835M
YoY Change -42.51% 2.31% 168.63%
LONG-TERM ASSETS
Property, Plant & Equipment $1.733K $4.333K $14.73K
YoY Change -85.72% -70.59%
Goodwill $11.90M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $18.65M $18.65M $100.1M
YoY Change -39.47% -81.37% 59735.19%
Total Long-Term Assets $18.83M $18.75M $112.1M
YoY Change -39.01% -83.28% 42.61%
TOTAL ASSETS
Total Short-Term Assets $641.4K $2.900M $2.835M
Total Long-Term Assets $18.83M $18.75M $112.1M
Total Assets $19.47M $21.65M $115.0M
YoY Change -39.13% -81.17% 44.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.317M $8.128M $6.381M
YoY Change 2.12% 27.37% 99.41%
Accrued Expenses $1.678M $1.455M $2.113M
YoY Change -26.42% -31.14% 155.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.995M $9.583M $8.578M
YoY Change -4.67% 11.71% 935.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.995M $9.583M $8.578M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $10.85M $10.43M $17.86M
YoY Change -9.03% -41.6% 324.78%
SHAREHOLDERS EQUITY
Retained Earnings -$108.8M -$106.0M -$8.500M
YoY Change 25.06% 1147.06%
Common Stock $83.00 $83.00 $922.00
YoY Change -96.49% -91.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.168K $7.168K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $8.620M $11.22M $97.10M
YoY Change
Total Liabilities & Shareholders Equity $19.47M $21.65M $115.0M
YoY Change -39.13% -81.17% 44.28%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$2.764M -$2.800M -$3.500M
YoY Change -96.48% -20.0% 386.11%
Depreciation, Depletion And Amortization $2.600K $2.600K $2.600K
YoY Change -74.0% 0.0%
Cash From Operating Activities -$1.914M -$3.800M -$4.600M
YoY Change 366.85% -17.39% 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 0.000 $2.673M -$34.67K
YoY Change -100.0% -7807.5% -101.29%
NET CHANGE
Cash From Operating Activities -1.914M -$3.800M -$4.600M
Cash From Investing Activities
Cash From Financing Activities 0.000 $2.673M -$34.67K
Net Change In Cash -1.914M -$1.104M -$4.624M
YoY Change 80.57% -76.12% 4610.32%
FREE CASH FLOW
Cash From Operating Activities -$1.914M -$3.800M -$4.600M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p id="xdx_847_eus-gaap--UseOfEstimates_z1O57PXhLdnf" style="font: italic bold 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 id="xdx_86C_zFMj7dTe0vgb">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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 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 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: 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>ZYVERSA THERAPEUTICS, INC.</b></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> </b></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>Notes to Condensed Consolidated Financial Statements</b></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"><b><i> </i></b></span></p>
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CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
51969 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
41969 usd
CY2024Q1 us-gaap Accrued Bonuses Current
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726937 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
536500 usd
CY2024Q1 us-gaap Other Liabilities
OtherLiabilities
7261 usd
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
7261 usd
CY2024Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1454970 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1754533 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1047051 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2281 pure
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2281 pure
CY2024Q1 ZVSA Operating Lease Asset Amortization
OperatingLeaseAssetAmortization
7839 usd
CY2024Q1 us-gaap Payments For Rent
PaymentsForRent
22047 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
8656 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
24249 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
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
223573 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
287461 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
803890 usd
CY2024Q1 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 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
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10243 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2218.51
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10243 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2218.51
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M6D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6150 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3438.48
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y
CY2024Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
10243 shares
CY2024Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y
CY2024Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
6150 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
903320 shares
CY2023Q4 ZVSA Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice
123.44
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
213800 shares
CY2024Q1 ZVSA Share Based Compensation Arrangements By Share Based Payment Award Non Options Exercised In Period Weighted Average Exercised Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExercisedInPeriodWeightedAverageExercisedPrice
12.50
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
689520 shares
CY2024Q1 ZVSA Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice
157.92
CY2024Q1 ZVSA Sharebased Compensation Arrangement By Sharebased Payment Award Non Option Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionOutstandingWeightedAverageRemainingContractualTerm2
P3Y8M1D
CY2024Q1 ZVSA Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
689320 shares
CY2024Q1 ZVSA Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableWeightedAverageExercisePrice
157.46
CY2024Q1 ZVSA Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Non Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y8M1D
CY2023Q1 ZVSA Percentage Of Registration Delay Payments
PercentageOfRegistrationDelayPayments
0.015 pure
CY2023Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.020 pure
CY2024Q1 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
7261 usd

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0001493152-24-019517-index.html Edgar Link pending
0001493152-24-019517.txt Edgar Link pending
0001493152-24-019517-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
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ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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form10-q_htm.xml Edgar Link completed
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zvsa-20240331.xsd Edgar Link pending
zvsa-20240331_cal.xml Edgar Link unprocessable
zvsa-20240331_def.xml Edgar Link unprocessable
zvsa-20240331_pre.xml Edgar Link unprocessable