10-Q Filing

CADIZ INC CIK: 727273 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0000727273-15-000030`
Period End Date	20150630
Filing Date	20150806
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	cdzi-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 56 Cash Flow Statement 40 Stockholders Equity 10

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 (in shares)	`CommonStockSharesAuthorized`	70.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.89M	USD	Point-in-time
Common stock - shares authorized (in shares)	`CommonStockSharesAuthorized`	70.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.21M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.61M	USD	Point-in-time
Common stock - shares issued (in shares)	`CommonStockSharesIssued`	17.74M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$239.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$95.00K	USD	Point-in-time
Common stock - shares issued (in shares)	`CommonStockSharesIssued`	17.68M	shares	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	17.74M	shares	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	17.68M	shares	Point-in-time
Inventories	`InventoryNet`	-	USD	Point-in-time
Inventories	`InventoryNet`	$184.00K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$346.00K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$541.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.79M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.43M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$43.95M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$43.64M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	$719.00K	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	$837.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.37M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.13M	USD	Point-in-time
Total assets	`Assets`	$68.21M	USD	Point-in-time
Total assets	`Assets`	$63.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$302.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$624.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.96M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$11.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$36.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$38.77M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$104.38M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$72.58M	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`	$107.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$113.03M	USD	Point-in-time
Common stock - $.01 par value; 70,000,000 shares authorized; shares issued and outstanding 17,740,807 at June 30, 2015 and 17,681,274 at December 31, 2014	`CommonStockValue`	$177.00K	USD	Point-in-time
Common stock - $.01 par value; 70,000,000 shares authorized; shares issued and outstanding 17,740,807 at June 30, 2015 and 17,681,274 at December 31, 2014	`CommonStockValue`	$177.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$320.43M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$319.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-359.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-370.35M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-49.75M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-39.74M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$63.28M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$68.21M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$11.00K	USD	1 Quarter
Revenues	`Revenues`	$15.00K	USD	2 Qtrs
Revenues	`Revenues`	$56.00K	USD	2 Qtrs
Revenues	`Revenues`	$38.00K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	-	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	-	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.99M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.72M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.40M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.40M	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$63.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$126.00K	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$65.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$127.00K	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$5.12M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$6.53M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$2.46M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.79M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.75M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-5.10M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-6.47M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-2.45M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-4.11M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-4.43M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-2.06M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.24M	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$70.00K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.99M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.51M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.83M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.21M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$2.00K	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$2.00K	USD	2 Qtrs
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-4.51M	USD	1 Quarter
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-10.83M	USD	2 Qtrs
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-9.21M	USD	2 Qtrs
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-5.99M	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.57	USD	2 Qtrs
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.34	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.61	USD	2 Qtrs
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.17M	shares	1 Quarter
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.17M	shares	2 Qtrs
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.72M	shares	2 Qtrs
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.73M	shares	1 Quarter
Revenues	`Revenues`	$11.00K	USD	1 Quarter
Revenues	`Revenues`	$15.00K	USD	2 Qtrs
Revenues	`Revenues`	$56.00K	USD	2 Qtrs
Revenues	`Revenues`	$38.00K	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss and comprehensive loss	`NetIncomeLoss`	$-9.21M	USD	2 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-10.83M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$127.00K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$126.00K	USD	2 Qtrs
Amortization of debt discount and issuance costs	`AmortizationOfDebtDiscountPremium`	$449.00K	USD	2 Qtrs
Amortization of debt discount and issuance costs	`AmortizationOfDebtDiscountPremium`	$417.00K	USD	2 Qtrs
Interest expense added to loan principal	`PaidInKindInterest`	$3.98M	USD	2 Qtrs
Interest expense added to loan principal	`PaidInKindInterest`	$3.69M	USD	2 Qtrs
Compensation charge for stock and share option awards	`ShareBasedCompensation`	$510.00K	USD	2 Qtrs
Compensation charge for stock and share option awards	`ShareBasedCompensation`	$61.00K	USD	2 Qtrs
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-48.00K	USD	2 Qtrs
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-144.00K	USD	2 Qtrs
Increase in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$379.00K	USD	2 Qtrs
Increase in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$258.00K	USD	2 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$243.00K	USD	2 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$271.00K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$324.00K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-611.00K	USD	2 Qtrs
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$571.00K	USD	2 Qtrs
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-550.00K	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.35M	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.56M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$240.00K	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.00K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.00K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-240.00K	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$12.00K	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$5.00K	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.00K	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.00K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.60M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.58M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.89M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.21M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.31M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.61M	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`	$16.21M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.31M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.61M	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance as of December 31, 2014	`StockholdersEquity`	$-49.75M	USD	Point-in-time
Balance as of December 31, 2014	`StockholdersEquity`	$-39.74M	USD	Point-in-time
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$707.00K	USD	2 Qtrs
Issuance of shares pursuant to bond conversion (in shares)	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	14,600.00	shares	Point-in-time
Issuance of shares pursuant to bond conversion	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$116.00K	USD	2 Qtrs
Issuance of shares pursuant to bond conversion	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$117.00K	USD	Point-in-time
Net loss and comprehensive loss	`NetIncomeLoss`	$-9.21M	USD	2 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-10.83M	USD	2 Qtrs
Balance as of June 30, 2015	`StockholdersEquity`	$-49.75M	USD	Point-in-time
Balance as of June 30, 2015	`StockholdersEquity`	$-39.74M	USD	Point-in-time

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