10-K Filing

CADIZ INC CIK: 727273 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0000727273-19-000004`
Period End Date	20181231
Filing Date	20190318
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	cdzi-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 50 Cash Flow Statement 54 Stockholders Equity 15

Balance Sheet 62 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.56M	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	24.65M	shares	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
Accounts receivable	`AccountsReceivableNetCurrent`	$38.00K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$411.00K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$408.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	24.65M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	22.99M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$13.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.00M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$46.62M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$45.27M	USD	Point-in-time
Long-term deposit/prepaid expenses	`PrepaidExpenseNoncurrent`	$2.00M	USD	Point-in-time
Long-term deposit/prepaid expenses	`PrepaidExpenseNoncurrent`	-	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Goodwill	`Goodwill`	$7.01M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.87M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.95M	USD	Point-in-time
Total assets	`Assets`	$69.31M	USD	Point-in-time
Total assets	`Assets`	$66.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$411.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$225.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.28M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.07M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$59.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.41M	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilitiesCurrent`	$2.39M	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilitiesCurrent`	$865.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$923.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.14M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$123.77M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$136.25M	USD	Point-in-time
Long-term lease obligations with related party, net	`CapitalLeaseObligationsNoncurrent`	$14.41M	USD	Point-in-time
Long-term lease obligations with related party, net	`CapitalLeaseObligationsNoncurrent`	$13.28M	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`	-	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$923.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$155.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$145.20M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - $0.01 par value; 70,000,000 shares authorized; shares issued and outstanding: 24,654,911 at December 31, 2018, and 22,987,434 at December 31, 2017	`CommonStockValue`	$230.00K	USD	Point-in-time
Common stock - $0.01 par value; 70,000,000 shares authorized; shares issued and outstanding: 24,654,911 at December 31, 2018, and 22,987,434 at December 31, 2017	`CommonStockValue`	$247.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$383.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$364.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-443.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-470.01M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-54.32M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-86.24M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-78.70M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$66.50M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$69.31M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Total revenues (rental income)	`Revenues`	$108.00K	USD	1 Quarter
Total revenues (rental income)	`Revenues`	$437.00K	USD	Annual
Total revenues (rental income)	`Revenues`	$108.00K	USD	1 Quarter
Total revenues (rental income)	`Revenues`	$112.00K	USD	1 Quarter
Total revenues (rental income)	`Revenues`	$440.00K	USD	Annual
Total revenues (rental income)	`Revenues`	$109.00K	USD	1 Quarter
Total revenues (rental income)	`Revenues`	$110.00K	USD	1 Quarter
Total revenues (rental income)	`Revenues`	$111.00K	USD	1 Quarter
Total revenues (rental income)	`Revenues`	$111.00K	USD	1 Quarter
Total revenues (rental income)	`Revenues`	$108.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.40M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$12.80M	USD	Annual
Depreciation	`DepreciationAndAmortization`	$258.00K	USD	Annual
Depreciation	`DepreciationAndAmortization`	$274.00K	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$13.08M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$11.66M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-11.22M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-2.49M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.41M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.01M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.99M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.25M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.49M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.11M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.10M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-12.64M	USD	Annual
Interest expense	`InterestExpense`	$17.77M	USD	Annual
Interest expense	`InterestExpense`	$15.27M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$223.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$51.00K	USD	Annual
Loss on extinguishment of debt and debt refinancing	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on extinguishment of debt and debt refinancing	`GainsLossesOnExtinguishmentOfDebt`	$-3.50M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-26.27M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-33.86M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$6.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$4.00K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-26.27M	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-33.86M	USD	Annual
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.09	USD	Annual
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.25	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.50	USD	Annual
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.60	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Weighted-average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.54M	shares	Annual
Weighted-average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.00M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-26.27M	USD	Annual
Net loss	`NetIncomeLoss`	$-33.86M	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$258.00K	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$274.00K	USD	Annual
Unrealized (gain) loss on warrant derivative liabilities	`FairValueAdjustmentOfWarrants`	$2.61M	USD	Annual
Unrealized (gain) loss on warrant derivative liabilities	`FairValueAdjustmentOfWarrants`	$-1.52M	USD	Annual
Amortization of deferred loan costs	`AmortizationOfFinancingCosts`	$103.00K	USD	Annual
Amortization of deferred loan costs	`AmortizationOfFinancingCosts`	$193.00K	USD	Annual
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$3.92M	USD	Annual
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$3.64M	USD	Annual
Interest expense added to loan principal	`PaidInKindInterestAddedToLoanPrincipal`	$9.27M	USD	Annual
Interest expense added to loan principal	`PaidInKindInterestAddedToLoanPrincipal`	$9.77M	USD	Annual
Interest expense added to lease liability	`PaidInKindInterestAddedToLeaseLiability`	$964.00K	USD	Annual
Interest expense added to lease liability	`PaidInKindInterestAddedToLeaseLiability`	$1.11M	USD	Annual
Loss on debt conversions	`GainLossOnConversionOfDebt`	$-175.00K	USD	Annual
Loss on debt conversions	`GainLossOnConversionOfDebt`	$-58.00K	USD	Annual
Loss on early extinguishment of debt and debt refinancing	`GainLossOnEarlyExtinguishmentOfDebtAndDebtRefinancing`	$-3.50M	USD	Annual
Loss on early extinguishment of debt and debt refinancing	`GainLossOnEarlyExtinguishmentOfDebtAndDebtRefinancing`	-	USD	Annual
Compensation charge for stock awards and share options	`ShareBasedCompensation`	$473.00K	USD	Annual
Compensation charge for stock awards and share options	`ShareBasedCompensation`	$2.30M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.98M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-73.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$444.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-98.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-79.00K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.88M	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-181.00K	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.47M	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.19M	USD	Annual
Additions to long-term deposit	`PaymentsToAcquireInvestments`	-	USD	Annual
Additions to long-term deposit	`PaymentsToAcquireInvestments`	$2.00M	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.73M	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.01M	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.01M	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.73M	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$15.50M	USD	Annual
Net proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	Annual
Net proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$57.25M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$44.92M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$56.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.45M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.33M	USD	Annual
Net (decrease) increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-472.00K	USD	Annual
Net (decrease) increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$858.00K	USD	Annual
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.69M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.16M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.30M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.69M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.16M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.30M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-54.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-78.70M	USD	Point-in-time
Issuance of shares	`StockIssuedDuringPeriodValueNewIssues`	$3.73M	USD	Annual
Issuance of shares	`StockIssuedDuringPeriodValueNewIssues`	$15.50M	USD	Annual
Issuance of shares pursuant to bond conversions (in shares)	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	376,463.00	shares	Annual
Issuance of shares pursuant to bond conversions	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$2.76M	USD	Annual
Issuance of shares pursuant to bond conversions	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$2.83M	USD	Annual
Stock compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.92M	USD	Annual
Stock compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$473.00K	USD	Annual
Net Loss	`NetIncomeLoss`	$-26.27M	USD	Annual
Net Loss	`NetIncomeLoss`	$-33.86M	USD	Annual
Balance	`StockholdersEquity`	$-54.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.24M	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.