10-K Filing

AXOGEN, INC. CIK: 805928 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001104659-14-017051`
Period End Date	20131231
Filing Date	20140306
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	axgn-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 34 Cash Flow Statement 57 Stockholders Equity 20

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$58.62K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.19M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $58,000 and $0, respectively	`AccountsReceivableNetCurrent`	$1.89M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.34M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.12M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $58,000 and $0, respectively	`AccountsReceivableNetCurrent`	$1.05M	USD	Point-in-time
Inventory	`InventoryNet`	$3.40M	USD	Point-in-time
Inventory	`InventoryNet`	$3.15M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.12M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.34M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$187.26K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$296.72K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.30M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$381.69K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$108.53K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$573.73K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$570.40K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$1.07M	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$1.25M	USD	Point-in-time
Total Assets	`Assets`	$20.23M	USD	Point-in-time
Total Assets	`Assets`	$27.68M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.08M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.48M	USD	Point-in-time
Current Deferred Revenue	`DeferredRevenueCurrent`	$14.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.10M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$25.36M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$21.58M	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$85.88K	USD	Point-in-time
Total liabilities	`Liabilities`	$23.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.55M	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 17,339,561 and 11,122,573 shares issued and outstanding	`CommonStockValue`	$173.40K	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 17,339,561 and 11,122,573 shares issued and outstanding	`CommonStockValue`	$111.23K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$72.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$54.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-57.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-72.41M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$136.63K	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-2.83M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$6.07M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$20.23M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$27.68M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$7.69M	USD	Annual
Revenues	`Revenues`	$10.95M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$2.44M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$1.96M	USD	Annual
Gross profit	`GrossProfit`	$5.73M	USD	Annual
Gross profit	`GrossProfit`	$8.51M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$10.26M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$6.88M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.43M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.13M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.22M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.72M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$18.10M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$13.53M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-9.59M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-7.80M	USD	Annual
Interest expense	`InterestExpense`	$4.82M	USD	Annual
Interest expense	`InterestExpense`	$1.39M	USD	Annual
Interest expense - deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$178.86K	USD	Annual
Interest expense - deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$986.84K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$33.89K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$23.97K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-4.96M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.35M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.16M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-14.56M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-738.19K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Loss	`NetIncomeLoss`	$-14.56M	USD	Annual
Net Loss	`NetIncomeLoss`	$-9.42M	USD	Annual
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.09M	shares	Annual
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.50M	shares	Annual
Loss Per Common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.08	USD	Annual
Loss Per Common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.85	USD	Annual

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-14.56M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.42M	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$79.23K	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$187.75K	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$127.08K	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$59.10K	USD	Annual
Loss on impairment	`ImpairmentOfIntangibleAssetsAndGoodwill`	$9.42K	USD	Annual
Loss on impairment	`ImpairmentOfIntangibleAssetsAndGoodwill`	$299.65K	USD	Annual
Loss on abandonment of license	`GainLossOnDispositionOfIntangibleAssets`	$-147.83K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$178.86K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$352.67K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$161.53K	USD	Annual
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$58.62K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$671.89K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$495.08K	USD	Annual
Stock grant for service	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$21.38K	USD	Annual
Cancellation of shares	`CancellationOfShares`	$15.00K	USD	Annual
Interest added to note payable	`PaidInKindInterest`	$3.78M	USD	Annual
Interest added to note payable	`PaidInKindInterest`	$780.25K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$902.23K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$252.44K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$247.33K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$1.39M	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$53.76K	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$109.46K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-105.35K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$430.58K	USD	Annual
Deferred Revenue	`IncreaseDecreaseInDeferredRevenue`	$100.00K	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.66M	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-10.44M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$48.46K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$178.78K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$78.83K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$65.19K	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-127.28K	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-243.97K	USD	Annual
Proceeds from issuance of note payable	`ProceedsFromNotesPayable`	$15.96M	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$16.78M	USD	Annual
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$161.29K	USD	Annual
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.31M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$15.65K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$73.33K	USD	Annual
Merger	`PaymentsOfMergerRelatedCostsFinancingActivities`	$58.00	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$14.51M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.85M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.72M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.16M	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$13.91M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.19M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.19M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$649.11K	USD	Annual
Cash paid for interest	`InterestPaid`	$1.03M	USD	Annual
Payments of fixed assets in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$173.61K	USD	Annual
Payments of long term debt with proceeds from note payable	`NotesReduction`	$4.84M	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$136.63K	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-2.83M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$6.07M	USD	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesIssued`	17.34M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesIssued`	11.12M	shares	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$671.89K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$495.08K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$15.65K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$73.33K	USD	Annual
Stock Grant for Services	`StockIssuedDuringPeriodValueIssuedForServices`	$21.38K	USD	Annual
Cancellation of shares	`StockRepurchasedAndRetiredDuringPeriodValue`	$15.00K	USD	Annual
Merger Closing - Fractional shares	`AdjustmentsToAdditionalPaidInCapitalFractionalShares`	$58.00	USD	Annual
Issuance of common shares	`StockIssuedDuringPeriodValueNewIssues`	$16.78M	USD	Annual
Net loss	`NetIncomeLoss`	$-14.56M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.42M	USD	Annual
Ending Balance	`StockholdersEquity`	$136.63K	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-2.83M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$6.07M	USD	Point-in-time
Ending Balance (in shares)	`CommonStockSharesIssued`	17.34M	shares	Point-in-time
Ending Balance (in shares)	`CommonStockSharesIssued`	11.12M	shares	Point-in-time

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