10-Q Filing

CADIZ INC CIK: 727273 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0000727273-14-000007`
Period End Date	20140331
Filing Date	20140508
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	cdzi-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 23 Cash Flow Statement 41 Stockholders Equity 7

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Common stock - par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock - par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock - shares authorized	`CommonStockSharesAuthorized`	70.00M	shares	Point-in-time
Common stock - shares authorized	`CommonStockSharesAuthorized`	70.00M	shares	Point-in-time
Common stock - shares issued	`CommonStockSharesIssued`	16.17M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Common stock - shares issued	`CommonStockSharesIssued`	250,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
Common stock - shares issued	`CommonStockSharesIssued`	16.15M	shares	Point-in-time
Common stock - shares outstanding	`CommonStockSharesOutstanding`	16.15M	shares	Point-in-time
Common stock - shares outstanding	`CommonStockSharesOutstanding`	16.17M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$301.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$291.00K	USD	Point-in-time
Inventories	`InventoryNet`	$111.00K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$537.00K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$350.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.40M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$43.82M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$43.76M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Debt Issuance Costs	`DeferredFinanceCostsNoncurrentNet`	$1.07M	USD	Point-in-time
Debt Issuance Costs	`DeferredFinanceCostsNoncurrentNet`	$1.01M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.94M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.22M	USD	Point-in-time
Total Assets	`Assets`	$64.17M	USD	Point-in-time
Total Assets	`Assets`	$60.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$833.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$87.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.74M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$11.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$11.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.58M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$98.40M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$96.42M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$750.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$750.00K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$923.00K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$923.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$101.36M	USD	Point-in-time
Total Liabilities	`Liabilities`	$100.67M	USD	Point-in-time
Common stock - $.01 par value; 70,000,000 shares authorized; shares issued and outstanding 16,172,239 at March 31, 2014 and 16,152,756 at December 31, 2013	`CommonStockValue`	$161.00K	USD	Point-in-time
Common stock - $.01 par value; 70,000,000 shares authorized; shares issued and outstanding 16,172,239 at March 31, 2014 and 16,152,756 at December 31, 2013	`CommonStockValue`	$161.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$304.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$303.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-340.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-345.33M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-36.50M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-41.16M	USD	Point-in-time
Total Liabilities and Stockholders deficit	`LiabilitiesAndStockholdersEquity`	$64.17M	USD	Point-in-time
Total Liabilities and Stockholders deficit	`LiabilitiesAndStockholdersEquity`	$60.20M	USD	Point-in-time

Income Statement 23 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$4.00K	USD	1 Quarter
Revenues	`Revenues`	$4.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.88M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$64.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$64.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.95M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.65M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.94M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.65M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.44M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.04M	USD	1 Quarter
Loss on extinguishment of debt and debt refinancing	`GainsLossesOnExtinguishmentOfDebt`	$-1.05M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.69M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.44M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-4.69M	USD	1 Quarter
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-7.44M	USD	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.48	USD	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	1 Quarter
Basic and diluted weighted average shares outstanding (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.17M	shares	1 Quarter
Basic and diluted weighted average shares outstanding (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.45M	shares	1 Quarter

Cash Flow Statement 41 line items

Line Item	Tag	Value	Unit	Period
Adjustments to reconcile net loss to net cash used for operating activities:	`NetIncomeLoss`	$-4.69M	USD	1 Quarter
Adjustments to reconcile net loss to net cash used for operating activities:	`NetIncomeLoss`	$-7.44M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$64.00K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$64.00K	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfDebtDiscountPremium`	$207.00K	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfDebtDiscountPremium`	$1.31M	USD	1 Quarter
Interest expense added to loan principal	`InterestExpenseOther`	$1.13M	USD	1 Quarter
Interest expense added to loan principal	`InterestExpenseOther`	$1.84M	USD	1 Quarter
Loss on early extinguishment of debt and debt refinancing	`GainLossOnEarlyExtinguishmentOfDebtAndDebtRefinancing`	$-835.00K	USD	1 Quarter
Compensation charge for stock and share option awards	`ShareBasedCompensation`	$30.00K	USD	1 Quarter
Compensation charge for stock and share option awards	`ShareBasedCompensation`	$439.00K	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-216.00K	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.00K	USD	1 Quarter
Increase in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$298.00K	USD	1 Quarter
Increase in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$413.00K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.95M	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$271.00K	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-282.00K	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-746.00K	USD	1 Quarter
(Decrease) increase in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$372.00K	USD	1 Quarter
(Decrease) increase in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-554.00K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.72M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.43M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$167.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-167.00K	USD	1 Quarter
Net proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$17.50M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.24M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$2.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$3.00K	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.25M	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.44M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.37M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.89M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.45M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.89M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.45M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Balance as of December 31, 2013	`StockholdersEquity`	$-36.50M	USD	Point-in-time
Balance as of December 31, 2013	`StockholdersEquity`	$-41.16M	USD	Point-in-time
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$30.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-4.69M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-7.44M	USD	1 Quarter
Balance as of March 31, 2014	`StockholdersEquity`	$-36.50M	USD	Point-in-time
Balance as of March 31, 2014	`StockholdersEquity`	$-41.16M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.