10-Q Filing

CADIZ INC CIK: 727273 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000727273-16-000053`
Period End Date	20160331
Filing Date	20160509
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	cdzi-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 28 Cash Flow Statement 46 Stockholders Equity 7

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`	$2.10M	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`	$13.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.21M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$187.00K	USD	Point-in-time
Common stock - shares issued (in shares)	`CommonStockSharesIssued`	17.88M	shares	Point-in-time
Common stock - shares issued (in shares)	`CommonStockSharesIssued`	17.93M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$38.00K	USD	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	17.93M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$562.00K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$309.00K	USD	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	17.88M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.70M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$44.40M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$44.47M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.32M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.59M	USD	Point-in-time
Total assets	`Assets`	$54.51M	USD	Point-in-time
Total assets	`Assets`	$54.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$504.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$309.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.67M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.38M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$49.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$49.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.93M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$107.59M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$100.98M	USD	Point-in-time
Long-term lease oligations, net	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Long-term lease oligations, net	`CapitalLeaseObligationsNoncurrent`	$11.63M	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`	$3.17M	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$923.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$119.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$111.29M	USD	Point-in-time
Common stock - $.01 par value; 70,000,000 shares authorized; shares issued and outstanding 17,934,223 at March 31, 2016 and 17,876,016 at December 31, 2015	`CommonStockValue`	$179.00K	USD	Point-in-time
Common stock - $.01 par value; 70,000,000 shares authorized; shares issued and outstanding 17,934,223 at March 31, 2016 and 17,876,016 at December 31, 2015	`CommonStockValue`	$179.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$326.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$327.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-392.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-383.53M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-56.50M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-64.97M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$54.79M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$54.51M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$75.00K	USD	1 Quarter
Revenues	`Revenues`	$18.00K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.35M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.67M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$61.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$73.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.74M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.43M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.35M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.72M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.19M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-4.19M	USD	1 Quarter
Loss on extinguishment of debt and debt refinancing	`GainsLossesOnExtinguishmentOfDebt`	$-2.25M	USD	1 Quarter
Loss on extinguishment of debt and debt refinancing	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$70.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.79M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.84M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-4.84M	USD	1 Quarter
Net loss and comprehensive loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-8.79M	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.27	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.49	USD	1 Quarter
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.71M	shares	1 Quarter
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.90M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss and comprehensive loss	`NetIncomeLoss`	$-8.79M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-4.84M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$61.00K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$73.00K	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$1.95M	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$222.00K	USD	1 Quarter
Interest expense added to loan principal	`PaidInKindInterest`	$2.18M	USD	1 Quarter
Interest expense added to loan principal	`PaidInKindInterest`	$1.97M	USD	1 Quarter
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.25M	USD	1 Quarter
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Compensation charge for stock and share option awards	`ShareBasedCompensation`	$260.00K	USD	1 Quarter
Compensation charge for stock and share option awards	`ShareBasedCompensation`	$165.00K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-149.00K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-170.00K	USD	1 Quarter
Increase in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$253.00K	USD	1 Quarter
Increase in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$478.00K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$271.00K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$272.00K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$195.00K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$315.00K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$876.00K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-43.00K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.48M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.64M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.00K	USD	1 Quarter
Up-front payment related to lease liability	`ProceedsFromIssuanceOfLongTermDebt`	$11.51M	USD	1 Quarter
Up-front payment related to lease liability	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Debt Issuance costs	`PaymentsOfDebtIssuanceCosts`	$102.00K	USD	1 Quarter
Debt Issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$10.51M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$3.00K	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$893.00K	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-587.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.66M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.55M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.69M	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`	$2.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.55M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.69M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.21M	USD	Point-in-time

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-56.50M	USD	Point-in-time
Balance	`StockholdersEquity`	$-64.97M	USD	Point-in-time
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$327.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-8.79M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-4.84M	USD	1 Quarter
Balance as of March 31, 2016	`StockholdersEquity`	$-56.50M	USD	Point-in-time
Balance as of March 31, 2016	`StockholdersEquity`	$-64.97M	USD	Point-in-time

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