10-K Filing

ROCK CREEK PHARMACEUTICALS, INC. CIK: 776008 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001193125-12-117380`
Period End Date	20111231
Filing Date	20120315
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	cigx-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 59 Cash Flow Statement 80 Stockholders Equity 19

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.47M	USD	Point-in-time
Accounts receivable, trade, net of allowance for doubtful accounts of $8 (2011) and $48 (2010)	`AccountsReceivableNetCurrent`	$39.00K	USD	Point-in-time
Accounts receivable, trade, net of allowance for doubtful accounts of $8 (2011) and $48 (2010)	`AccountsReceivableNetCurrent`	$52.00K	USD	Point-in-time
Receivable from sale of licensing rights	`ReceivableFromSaleOfLicensingRights`	$27.00K	USD	Point-in-time
Receivable from sale of licensing rights	`ReceivableFromSaleOfLicensingRights`	$30.00K	USD	Point-in-time
Inventories	`InventoryNet`	$3.42M	USD	Point-in-time
Inventories	`InventoryNet`	$2.74M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$350.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$48.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$737.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$8.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.04M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	207.50M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.17M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.35M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	207.50M	shares	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$578.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	127.12M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	139.26M	shares	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$627.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	139.26M	shares	Point-in-time
Receivable from sale of licensing rights, less current maturities	`ReceivableFromSaleOfLicensingRightsNoncurrent`	$50.00K	USD	Point-in-time
Receivable from sale of licensing rights, less current maturities	`ReceivableFromSaleOfLicensingRightsNoncurrent`	$80.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	127.12M	shares	Point-in-time
MSA escrow funds	`EscrowDeposit`	$368.00K	USD	Point-in-time
MSA escrow funds	`EscrowDeposit`	$368.00K	USD	Point-in-time
Total assets	`Assets`	$17.08M	USD	Point-in-time
Total assets	`Assets`	$20.29M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.52M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.52M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$1.85M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$1.58M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$424.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$738.00K	USD	Point-in-time
Due to stockholders	`DueToOfficersOrStockholdersCurrent`	$50.00K	USD	Point-in-time
Due to stockholders	`DueToOfficersOrStockholdersCurrent`	$50.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.58M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$5.05M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$2.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.63M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.69M	USD	Point-in-time
Commitments and contingencies (Notes 10 and 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 10 and 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock (A)	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock (A)	`CommonStockValue`	$13.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$181.34M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$218.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-208.68M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-170.69M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-498.00K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$10.66M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$9.39M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$2.29M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$20.29M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$17.08M	USD	Point-in-time

Income Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$848.00K	USD	Annual
Net sales	`SalesRevenueGoodsNet`	$708.00K	USD	Annual
Net sales	`SalesRevenueGoodsNet`	$1.73M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$2.61M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$2.17M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$3.39M	USD	Annual
Excise taxes on products	`ExciseTaxesOnProducts`	$12.00K	USD	Annual
Excise taxes on products	`ExciseTaxesOnProducts`	$10.00K	USD	Annual
Excise taxes on products	`ExciseTaxesOnProducts`	$15.00K	USD	Annual
Department of Agriculture tobacco buyout program assessment	`DepartmentOfAgricultureTobaccoBuyoutProgramAssessment`	$1.00K	USD	Annual
Department of Agriculture tobacco buyout program assessment	`DepartmentOfAgricultureTobaccoBuyoutProgramAssessment`	$1.00K	USD	Annual
Gross margin loss	`GrossProfit`	$-1.34M	USD	Annual
Gross margin loss	`GrossProfit`	$-1.92M	USD	Annual
Gross margin loss	`GrossProfit`	$-1.67M	USD	Annual
Marketing and distribution	`SellingAndMarketingExpense`	$2.58M	USD	Annual
Marketing and distribution	`SellingAndMarketingExpense`	$3.13M	USD	Annual
Marketing and distribution	`SellingAndMarketingExpense`	$2.76M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$15.82M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$21.08M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$29.62M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$3.03M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$3.35M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.80M	USD	Annual
Restructuring	`RestructuringCharges`	$639.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$26.88M	USD	Annual
Total operating expenses	`OperatingExpenses`	$20.84M	USD	Annual
Total operating expenses	`OperatingExpenses`	$36.10M	USD	Annual
Operating loss from continuing operations	`OperatingIncomeLoss`	$-28.21M	USD	Annual
Operating loss from continuing operations	`OperatingIncomeLoss`	$-22.76M	USD	Annual
Operating loss from continuing operations	`OperatingIncomeLoss`	$-37.77M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$46.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$202.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$73.00K	USD	Annual
Interest expense	`InterestExpenseDebt`	$439.00K	USD	Annual
Interest expense	`InterestExpenseDebt`	$263.00K	USD	Annual
Interest expense	`InterestExpenseDebt`	$383.00K	USD	Annual
Gain (loss) on retirement of assets	`GainLossOnRetirementOfAssets`	$-5.00K	USD	Annual
Gain (loss) on retirement of assets	`GainLossOnRetirementOfAssets`	$240.00K	USD	Annual
Gain (loss) on retirement of assets	`GainLossOnRetirementOfAssets`	$251.00K	USD	Annual
Gain (loss) on sale of tobacco curing barns	`GainLossOnSaleOfCuringBarns`	$-100.00K	USD	Annual
Derivative expense	`DerivativeExpense`	$67.00K	USD	Annual
Other	`OtherNonoperatingExpense`	$-114.00K	USD	Annual
Other	`OtherNonoperatingExpense`	$-3.00K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-67.00K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-222.00K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-39.00K	USD	Annual
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-37.99M	USD	Annual
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-22.80M	USD	Annual
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-28.28M	USD	Annual
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-28.28M	USD	Annual
Net loss	`NetIncomeLoss`	$-22.80M	USD	Annual
Net loss	`NetIncomeLoss`	$-37.99M	USD	Annual
Loss per common share; basic and diluted:	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	Annual
Loss per common share; basic and diluted:	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	Annual
Loss per common share; basic and diluted:	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	Annual
Weighted average shares outstanding - basic and diluted	`WeightedAverageSharesOutstandingBasicAndDiluted`	101.91M	shares	Annual
Weighted average shares outstanding - basic and diluted	`WeightedAverageSharesOutstandingBasicAndDiluted`	118.38M	shares	Annual
Weighted average shares outstanding - basic and diluted	`WeightedAverageSharesOutstandingBasicAndDiluted`	133.63M	shares	Annual

Cash Flow Statement 80 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-28.28M	USD	Annual
Net loss	`NetIncomeLoss`	$-22.80M	USD	Annual
Net loss	`NetIncomeLoss`	$-37.99M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$363.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$315.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$312.00K	USD	Annual
Loss (Gain) on sale of curing barns	`GainLossOnSaleOfCuringBarns`	$-100.00K	USD	Annual
Loss (Gain) on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.00K	USD	Annual
Loss (Gain) on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$251.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$498.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$17.26M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$8.82M	USD	Annual
Provision for (recovery of) bad debts	`ProvisionForDoubtfulAccounts`	$-41.00K	USD	Annual
Provision for (recovery of) bad debts	`ProvisionForDoubtfulAccounts`	$-30.00K	USD	Annual
Provision for (recovery of) bad debts	`ProvisionForDoubtfulAccounts`	$41.00K	USD	Annual
Provision for inventory write-off	`InventoryWriteDown`	$696.00K	USD	Annual
Provision for inventory write-off	`InventoryWriteDown`	$414.00K	USD	Annual
Provision for inventory write-off	`InventoryWriteDown`	$59.00K	USD	Annual
Derivative expense	`DerivativeExpense`	$67.00K	USD	Annual
Accounts receivable, trade	`IncreaseDecreaseInAccountsReceivable`	$-53.00K	USD	Annual
Accounts receivable, trade	`IncreaseDecreaseInAccountsReceivable`	$36.00K	USD	Annual
Accounts receivable, trade	`IncreaseDecreaseInAccountsReceivable`	$-58.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$17.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-69.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$3.25M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-848.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-54.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$385.00K	USD	Annual
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$-834.00K	USD	Annual
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$264.00K	USD	Annual
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$1.29M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$383.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$314.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-554.00K	USD	Annual
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.04M	USD	Annual
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.47M	USD	Annual
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.66M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$65.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$990.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	Annual
Proceeds from sale of tobacco curing barns	`ProceedsFromSaleOfTobaccoCuringBarns`	$200.00K	USD	Annual
Proceeds from sale of real estate	`ProceedsFromSaleOfRealEstate`	$630.00K	USD	Annual
Proceeds from sale of licensing rights	`ProceedsFromSaleOfLicensingRights`	$27.00K	USD	Annual
Proceeds from sale of licensing rights	`ProceedsFromSaleOfLicensingRights`	$25.00K	USD	Annual
Proceeds from sale of licensing rights	`ProceedsFromSaleOfLicensingRights`	$589.00K	USD	Annual
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$65.00K	USD	Annual
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$18.00K	USD	Annual
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$14.00K	USD	Annual
Deposits (made) returned on property and equipment	`DepositsMadeReturnedOnPropertyAndEquipment`	$307.00K	USD	Annual
Deposits (made) returned on property and equipment	`DepositsMadeReturnedOnPropertyAndEquipment`	$415.00K	USD	Annual
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.38M	USD	Annual
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.34M	USD	Annual
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-471.00K	USD	Annual
Payments on long-term debt and capital leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$1.48M	USD	Annual
Payments on long-term debt and capital leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.52M	USD	Annual
Payments on long-term debt and capital leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$1.99M	USD	Annual
Proceeds from sale of stock and warrant exercise	`ProceedsFromStockAndWarrantExercise`	$18.50M	USD	Annual
Proceeds from sale of stock and warrant exercise	`ProceedsFromStockAndWarrantExercise`	$27.83M	USD	Annual
Proceeds from sale of stock and warrant exercise	`ProceedsFromStockAndWarrantExercise`	$20.09M	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$4.93M	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$958.00K	USD	Annual
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.94M	USD	Annual
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$23.54M	USD	Annual
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$25.84M	USD	Annual
Deposits to MSA escrow fund	`DepositsToMsaEscrow`	$-3.00K	USD	Annual
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.00M	USD	Annual
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.89M	USD	Annual
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$833.00K	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$12.36M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$13.19M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.19M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$6.47M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$12.36M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$13.19M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$10.19M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$6.47M	USD	Point-in-time
Interest paid	`InterestPaid`	$370.00K	USD	Annual
Interest paid	`InterestPaid`	$271.00K	USD	Annual
Interest paid	`InterestPaid`	$404.00K	USD	Annual
During the year ended December 31, 2010, the Company purchased a vehicle financed through long-term debt. See note 6	`VehicleFinancedThroughLongTermDebt`	$63.00K	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-498.00K	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$10.66M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$9.39M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.29M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$498.00K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$17.26M	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$8.82M	USD	Annual
Stock option exercise	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.93M	USD	Annual
Issuance of common stock, stock options and warrant exercise	`StockIssuedDuringPeriodValueCommonStockStockOptionsAndWarrant`	$27.83M	USD	Annual
Issuance of common stock, stock options and warrant exercise	`StockIssuedDuringPeriodValueCommonStockStockOptionsAndWarrant`	$19.46M	USD	Annual
Issuance of common stock, stock options and warrant exercise	`StockIssuedDuringPeriodValueCommonStockStockOptionsAndWarrant`	$20.84M	USD	Annual
Derivative liability adjustment resulting from adoption of new accounting policy (Note 2)	`DerivativeLiabilityAdjustmentResultingFromAdoptionOfNewAccountingPolicy`	$-687.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-28.28M	USD	Annual
Net loss	`NetIncomeLoss`	$-22.80M	USD	Annual
Net loss	`NetIncomeLoss`	$-37.99M	USD	Annual
Ending balance	`StockholdersEquity`	$-498.00K	USD	Point-in-time
Ending balance	`StockholdersEquity`	$10.66M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$9.39M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.29M	USD	Point-in-time

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