10-Q Filing

Xenetic Biosciences, Inc. CIK: 1534525 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-310331`
Period End Date	20140630
Filing Date	20140814
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	xbio-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 76 Cash Flow Statement 52

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	215.46M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	215.46M	shares	Point-in-time
Cash	`Cash`	$7.61M	USD	Point-in-time
Cash	`Cash`	$11.14M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	136.05M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	146.74M	shares	Point-in-time
Cash	`Cash`	$8.73M	USD	Point-in-time
Cash	`Cash`	$4.84M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	130.58M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	136.05M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$66.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	119.89M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	136.05M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$66.00K	USD	Point-in-time
Other receivables	`AccountsAndOtherReceivablesNetCurrent`	$182.76K	USD	Point-in-time
Other receivables	`AccountsAndOtherReceivablesNetCurrent`	$256.01K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$168.31K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$423.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.29M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.33M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$152.60K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$156.31K	USD	Point-in-time
Goodwill	`Goodwill`	$3.70M	USD	Point-in-time
Goodwill	`Goodwill`	$3.80M	USD	Point-in-time
Goodwill	`Goodwill`	$3.59M	USD	Point-in-time
Goodwill	`Goodwill`	$4.13M	USD	Point-in-time
Goodwill	`Goodwill`	$3.67M	USD	Point-in-time
Indefinite-lived intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$10.70M	USD	Point-in-time
Indefinite-lived intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$10.32M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$105.57K	USD	Point-in-time
Total assets	`Assets`	$19.47M	USD	Point-in-time
Total assets	`Assets`	$23.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$942.16K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$589.85K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$792.93K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.83M	USD	Point-in-time
Accrued payroll taxes	`AccruedPayrollTaxesCurrent`	$84.60K	USD	Point-in-time
Accrued payroll taxes	`AccruedPayrollTaxesCurrent`	$61.47K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$44.81K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$55.27K	USD	Point-in-time
Loans due to related parties	`DueToRelatedPartiesCurrent`	$681.12K	USD	Point-in-time
Loans due to related parties	`DueToRelatedPartiesCurrent`	$626.04K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.12M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$3.38M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$3.26M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$64.88K	USD	Point-in-time
Total liabilities	`Liabilities`	$6.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.56M	USD	Point-in-time
Commitments and contingent liabilities	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value; 215,456,000 shares authorized as of June 30, 2014 and December 31, 2013; 146,740,692 and 130,575,516 shares issued as of June 30, 2014 and December 31, 2013, respectively; 136,052,498 and 119,887,322 shares outstanding as of June 30, 2014 and December 31, 2013, respectively	`CommonStockValue`	$1.31M	USD	Point-in-time
Common stock, $0.01 par value; 215,456,000 shares authorized as of June 30, 2014 and December 31, 2013; 146,740,692 and 130,575,516 shares issued as of June 30, 2014 and December 31, 2013, respectively; 136,052,498 and 119,887,322 shares outstanding as of June 30, 2014 and December 31, 2013, respectively	`CommonStockValue`	$1.47M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$74.00M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$88.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-68.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-58.31M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.42M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$900.25K	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$5.28M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$5.28M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.49M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$19.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$23.05M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	$1.00M	USD	1 Quarter
Revenue	`Revenues`	$1.00M	USD	2 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	-	USD	2 Qtrs
Cost of revenue	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	-	USD	2 Qtrs
Cost of revenue	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.00M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.58M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$956.41K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.03M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.60M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.61M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.00M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.96M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.08M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$2.64M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$3.53M	USD	2 Qtrs
Total operating costs and expenses	`OperatingExpenses`	$2.03M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$5.60M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.64M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.60M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.03M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.53M	USD	2 Qtrs
Loss on disposal of subsidiaries	`GainLossOnSaleOfBusiness`	-	USD	2 Qtrs
Loss on disposal of subsidiaries	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Loss on disposal of subsidiaries	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Loss on disposal of subsidiaries	`GainLossOnSaleOfBusiness`	$-1.07M	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-128.19K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-162.61K	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$201.35K	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$85.24K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$20.18K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$9.46K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.70K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$11.74K	USD	2 Qtrs
Interest expense	`InterestExpense`	$2.37K	USD	2 Qtrs
Interest expense	`InterestExpense`	$632.00	USD	2 Qtrs
Interest expense	`InterestExpense`	$632.00	USD	1 Quarter
Interest expense	`InterestExpense`	$1.49K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$220.90K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.22M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-118.98K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$94.07K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.76M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.31M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-938.33K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.82M	USD	2 Qtrs
Income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.76M	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.82M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-938.33K	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.31M	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$397.76K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$8.91K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$523.64K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.21M	USD	2 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.36M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-929.42K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.53M	USD	2 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.30M	USD	2 Qtrs
Net loss per share of common stock, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	2 Qtrs
Net loss per share of common stock, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Net loss per share of common stock, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Net loss per share of common stock, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted-average shares of common stock outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	134.09M	shares	2 Qtrs
Weighted-average shares of common stock outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	136.05M	shares	1 Quarter
Weighted-average shares of common stock outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	119.83M	shares	2 Qtrs
Weighted-average shares of common stock outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	119.83M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-2.76M	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.82M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-938.33K	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.31M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$23.25K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$34.74K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$212.90K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$43.33K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$432.25K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$107.82K	USD	1 Quarter
Loss on disposal of subsidiaries	`GainLossOnSaleOfBusiness`	-	USD	2 Qtrs
Loss on disposal of subsidiaries	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Loss on disposal of subsidiaries	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Loss on disposal of subsidiaries	`GainLossOnSaleOfBusiness`	$-1.07M	USD	2 Qtrs
Accounts receivable, prepayments and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-40.15K	USD	2 Qtrs
Accounts receivable, prepayments and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$287.61K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.48M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$255.53K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.78M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.05M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$39.58K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.83K	USD	2 Qtrs
Disposition of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Disposition of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.49K	USD	2 Qtrs
Cash acquired from Acquisition	`CashAcquiredFromAcquisition`	$43.50K	USD	2 Qtrs
Cash acquired from Acquisition	`CashAcquiredFromAcquisition`	-	USD	2 Qtrs
Cash transferred in connection with Hive Out Agreement	`CashDivestedFromDeconsolidation`	-	USD	2 Qtrs
Cash transferred in connection with Hive Out Agreement	`CashDivestedFromDeconsolidation`	$43.50K	USD	2 Qtrs
Fee paid in connection with Hive Out Agreement	`BusinessCombinationTransactionFeesPaid`	-	USD	2 Qtrs
Fee paid in connection with Hive Out Agreement	`BusinessCombinationTransactionFeesPaid`	$430.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.83K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-464.10K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$101.93K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.10M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	-	USD	2 Qtrs
Effect of exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$188.05K	USD	2 Qtrs
Effect of exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-615.53K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents, excluding restricted cash	`CashPeriodIncreaseDecrease`	$2.77M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents, excluding restricted cash	`CashPeriodIncreaseDecrease`	$-2.41M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`Cash`	$7.61M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`Cash`	$11.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`Cash`	$8.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`Cash`	$4.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`Cash`	$7.61M	USD	Point-in-time
Cash and cash equivalents at end of period	`Cash`	$11.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`Cash`	$8.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`Cash`	$4.84M	USD	Point-in-time
Equity consideration transferred in the Acquisition	`BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable`	$3.75M	USD	2 Qtrs
Repurchase and cancellation of common stock in the Hive Out Agreement	`PaymentsForRepurchaseAndCancellationOfCommonStock`	$3.11M	USD	2 Qtrs

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