10-Q Filing

CADIZ INC CIK: 727273 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000727273-18-000009`
Period End Date	20180331
Filing Date	20180509
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	cdzi-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 22 Cash Flow Statement 46 Stockholders Equity 10

Balance Sheet 55 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`	$13.03M	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`	$8.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.41M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$38.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	22.99M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$36.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	23.22M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	22.99M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	23.22M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$411.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$702.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.48M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$45.27M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$45.78M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.95M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.96M	USD	Point-in-time
Total assets	`Assets`	$66.50M	USD	Point-in-time
Total assets	`Assets`	$62.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$411.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.28M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$668.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$57.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.41M	USD	Point-in-time
Warrant derivative liabilities	`DerivativeLiabilitiesCurrent`	$1.87M	USD	Point-in-time
Warrant derivative liabilities	`DerivativeLiabilitiesCurrent`	$2.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.49M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$123.77M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$126.78M	USD	Point-in-time
Long-term lease obligations, net	`CapitalLeaseObligationsNoncurrent`	$13.28M	USD	Point-in-time
Long-term lease obligations, net	`CapitalLeaseObligationsNoncurrent`	$13.54M	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`	$145.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$145.20M	USD	Point-in-time
Common stock - $.01 par value; 70,000,000 shares authorized at March 31, 2018 and December 31, 2017; shares issued and outstanding 23,216,535 at March 31, 2018 and 22,987,434 at December 31, 2017	`CommonStockValue`	$230.00K	USD	Point-in-time
Common stock - $.01 par value; 70,000,000 shares authorized at March 31, 2018 and December 31, 2017; shares issued and outstanding 23,216,535 at March 31, 2018 and 22,987,434 at December 31, 2017	`CommonStockValue`	$232.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$364.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$366.58M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-449.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-443.74M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-82.89M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-78.70M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$62.87M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$66.50M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$108.00K	USD	1 Quarter
Total revenues	`Revenues`	$108.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.15M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.53M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$66.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$71.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.22M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.59M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.11M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.49M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-3.11M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-3.48M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.97M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.23M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-5.97M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-7.23M	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-260.00	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-330.00	USD	1 Quarter
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.10M	shares	1 Quarter
Basic and diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.07M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.97M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.23M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$66.00K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$71.00K	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$742.00K	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$992.00K	USD	1 Quarter
Interest expense added to loan principal	`PaidInKindInterestAddedToLoanPrincipal`	$2.36M	USD	1 Quarter
Interest expense added to loan principal	`PaidInKindInterestAddedToLoanPrincipal`	$2.04M	USD	1 Quarter
Interest expense added to lease liability	`PaidInKindInterestAddedToLeaseLiability`	$262.00K	USD	1 Quarter
Interest expense added to lease liability	`PaidInKindInterestAddedToLeaseLiability`	$226.00K	USD	1 Quarter
Loss on debt conversion	`GainLossOnConversionOfDebt`	$-1.00K	USD	1 Quarter
Loss on debt conversion	`GainLossOnConversionOfDebt`	-	USD	1 Quarter
Compensation charge for stock and share option awards	`ShareBasedCompensation`	$1.82M	USD	1 Quarter
Compensation charge for stock and share option awards	`ShareBasedCompensation`	$105.00K	USD	1 Quarter
Unrealized gain on warrant derivative liabilities	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Unrealized gain on warrant derivative liabilities	`FairValueAdjustmentOfWarrants`	$-516.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$45.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$291.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.73M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$271.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$13.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$528.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$414.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.46M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.13M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.94M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.63M	USD	1 Quarter
Additions to property, plant and equipment and water programs	`PaymentsToAcquirePropertyPlantAndEquipment`	$116.00K	USD	1 Quarter
Additions to property, plant and equipment and water programs	`PaymentsToAcquirePropertyPlantAndEquipment`	$502.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-502.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-116.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$14.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$14.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.00K	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.77M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.45M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.71M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.16M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.54M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.71M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.16M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.54M	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-82.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$-78.70M	USD	Point-in-time
Issuance of shares pursuant to bond conversion (in shares)	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	215,852.00	shares	1 Quarter
Issuance of shares pursuant to bond conversion	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$1.67M	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$105.00K	USD	1 Quarter
Issuance of shares pursuant to stock awards	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-5.97M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-7.23M	USD	1 Quarter
Balance	`StockholdersEquity`	$-82.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$-78.70M	USD	Point-in-time

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