10-Q Filing

CADIZ INC CIK: 727273 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0000727273-15-000034`
Period End Date	20150930
Filing Date	20151105
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	cdzi-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 56 Cash Flow Statement 40 Stockholders Equity 9

Balance Sheet 54 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.39M	USD	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
Common stock - shares authorized (in shares)	`CommonStockSharesAuthorized`	70.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.21M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$239.00K	USD	Point-in-time
Common stock - shares issued (in shares)	`CommonStockSharesIssued`	17.86M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$283.00K	USD	Point-in-time
Common stock - shares issued (in shares)	`CommonStockSharesIssued`	17.68M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$346.00K	USD	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	17.86M	shares	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	17.68M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$493.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.79M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.17M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$43.64M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$44.55M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	$651.00K	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	$837.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.35M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.13M	USD	Point-in-time
Total assets	`Assets`	$59.53M	USD	Point-in-time
Total assets	`Assets`	$68.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$302.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$553.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.79M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$36.93M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$11.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.27M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$104.38M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$73.19M	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`	$114.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$107.95M	USD	Point-in-time
Common stock - $.01 par value; 70,000,000 shares authorized; shares issued and outstanding 17,861,658 at September 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 17,861,658 at September 30, 2015 and 17,681,274 at December 31, 2014	`CommonStockValue`	$179.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$321.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$319.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-376.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-359.52M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-54.60M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-39.74M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$68.21M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$59.53M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$305.00K	USD	1 Quarter
Revenues	`Revenues`	$227.00K	USD	1 Quarter
Revenues	`Revenues`	$320.00K	USD	3 Qtrs
Revenues	`Revenues`	$283.00K	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$291.00K	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$282.00K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$282.00K	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$291.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.32M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$9.91M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.33M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.52M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$198.00K	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$72.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$63.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$190.00K	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$10.40M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$7.80M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$2.68M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.88M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-10.12M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-2.38M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.65M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-7.48M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-2.19M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-6.30M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-2.31M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-6.74M	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	$70.00K	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.57M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.77M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-16.79M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.96M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$3.00K	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$3.00K	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-13.78M	USD	3 Qtrs
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-5.96M	USD	1 Quarter
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-16.80M	USD	3 Qtrs
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-4.57M	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.95	USD	3 Qtrs
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.85	USD	3 Qtrs
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	1 Quarter
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.19M	shares	1 Quarter
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.18M	shares	3 Qtrs
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.75M	shares	3 Qtrs
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.82M	shares	1 Quarter
Revenues	`Revenues`	$305.00K	USD	1 Quarter
Revenues	`Revenues`	$227.00K	USD	1 Quarter
Revenues	`Revenues`	$320.00K	USD	3 Qtrs
Revenues	`Revenues`	$283.00K	USD	3 Qtrs

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-16.80M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-13.78M	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$198.00K	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$190.00K	USD	3 Qtrs
Amortization of debt discount and issuance costs	`AmortizationOfDebtDiscountPremium`	$679.00K	USD	3 Qtrs
Amortization of debt discount and issuance costs	`AmortizationOfDebtDiscountPremium`	$637.00K	USD	3 Qtrs
Interest expense added to loan principal	`PaidInKindInterest`	$6.07M	USD	3 Qtrs
Interest expense added to loan principal	`PaidInKindInterest`	$5.66M	USD	3 Qtrs
Compensation charge for stock and share option awards	`ShareBasedCompensation`	$721.00K	USD	3 Qtrs
Compensation charge for stock and share option awards	`ShareBasedCompensation`	$545.00K	USD	3 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$239.00K	USD	3 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$44.00K	USD	3 Qtrs
Increase in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$147.00K	USD	3 Qtrs
Increase in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$201.00K	USD	3 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$214.00K	USD	3 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$214.00K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$253.00K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-249.00K	USD	3 Qtrs
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-147.00K	USD	3 Qtrs
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-842.00K	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.49M	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.43M	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.00K	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$351.00K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.00K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-351.00K	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$8.00K	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$27.00K	USD	3 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.00K	USD	3 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-27.00K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.81M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.52M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.39M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.89M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.37M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.21M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.39M	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`	$3.37M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.21M	USD	Point-in-time

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-54.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$-39.74M	USD	Point-in-time
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$923.00K	USD	3 Qtrs
Issuance of shares pursuant to bond conversion (in shares)	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	126,633.00	shares	3 Qtrs
Issuance of shares pursuant to bond conversion	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$1.01M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-16.80M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-13.78M	USD	3 Qtrs
Balance as of September 30, 2015	`StockholdersEquity`	$-54.60M	USD	Point-in-time
Balance as of September 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.