10-Q Filing

Niagen Bioscience, Inc. CIK: 1386570 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001415889-15-002674`
Period End Date	20150630
Filing Date	20150813
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	cdxc-20150404.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 55 Cash Flow Statement 76 Stockholders Equity 15

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Trade receivables, less allowance for doubtful accounts and returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$38.00K	USD	Point-in-time
Trade receivables, less allowance for doubtful accounts and returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$41.00K	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$3.96M	USD	Point-in-time
Cash	`Cash`	$5.70M	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$1.28M	USD	Point-in-time
Trade receivables, less allowance for doubtful accounts and returns, July 4, 2015 $41,000; January 3, 2015 $38,000	`AccountsReceivableNetCurrent`	$1.91M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Trade receivables, less allowance for doubtful accounts and returns, July 4, 2015 $41,000; January 3, 2015 $38,000	`AccountsReceivableNetCurrent`	$3.10M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	105.27M	shares	Point-in-time
Inventories	`InventoryNet`	$3.73M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	106.29M	shares	Point-in-time
Inventories	`InventoryNet`	$3.09M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	106.29M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$292.89K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$427.25K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	105.27M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$12.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.90M	USD	Point-in-time
Leasehold Improvements and Equipment, net	`PropertyPlantAndEquipmentNet`	$1.55M	USD	Point-in-time
Leasehold Improvements and Equipment, net	`PropertyPlantAndEquipmentNet`	$1.26M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$57.44K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$57.56K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$298.02K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$296.06K	USD	Point-in-time
Total assets	`Assets`	$11.52M	USD	Point-in-time
Total assets	`Assets`	$14.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.45M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$853.68K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.28M	USD	Point-in-time
Current maturities of loan payable	`LoansPayableCurrent`	$148.59K	USD	Point-in-time
Current maturities of loan payable	`LoansPayableCurrent`	$223.36K	USD	Point-in-time
Current maturities of capital lease obligations	`CapitalLeaseObligationsCurrent`	$148.28K	USD	Point-in-time
Current maturities of capital lease obligations	`CapitalLeaseObligationsCurrent`	$211.93K	USD	Point-in-time
Customer deposits and other	`CustomerAdvancesAndDeposits`	$229.18K	USD	Point-in-time
Customer deposits and other	`CustomerAdvancesAndDeposits`	$234.44K	USD	Point-in-time
Deferred rent, current	`DeferredRentCreditCurrent`	$66.30K	USD	Point-in-time
Deferred rent, current	`DeferredRentCreditCurrent`	$69.46K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.03M	USD	Point-in-time
Loan payable, less current maturities, net	`LongTermDebtNoncurrent`	$1.98M	USD	Point-in-time
Loan payable, less current maturities, net	`LongTermDebtNoncurrent`	$4.63M	USD	Point-in-time
Capital lease obligations, less current maturities	`CapitalLeaseObligationsNoncurrent`	$556.03K	USD	Point-in-time
Capital lease obligations, less current maturities	`CapitalLeaseObligationsNoncurrent`	$423.01K	USD	Point-in-time
Deferred rent, less current	`DeferredRentCreditNoncurrent`	$108.93K	USD	Point-in-time
Deferred rent, less current	`DeferredRentCreditNoncurrent`	$137.51K	USD	Point-in-time
Total Liabilities	`Liabilities`	$10.33M	USD	Point-in-time
Total Liabilities	`Liabilities`	$7.52M	USD	Point-in-time
Common stock, $.001 par value; authorized 150,000,000 shares; issued and outstanding July 4, 2015 106,290,803 and January 3, 2015 105,271,058 shares	`CommonStockValue`	$106.29K	USD	Point-in-time
Common stock, $.001 par value; authorized 150,000,000 shares; issued and outstanding July 4, 2015 106,290,803 and January 3, 2015 105,271,058 shares	`CommonStockValue`	$105.27K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.42M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$44.66M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-40.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-39.52M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.69M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.90M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$14.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.52M	USD	Point-in-time

Income Statement 55 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`SalesRevenueGoodsNet`	$11.36M	USD	2 Qtrs
Sales, net	`SalesRevenueGoodsNet`	$3.86M	USD	1 Quarter
Sales, net	`SalesRevenueGoodsNet`	$6.10M	USD	1 Quarter
Sales, net	`SalesRevenueGoodsNet`	$6.93M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$2.46M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.63M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$4.55M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$6.96M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.47M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.40M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.38M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.40M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.23M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$639.75K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.04M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$571.55K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.47M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.26M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.02M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.81M	USD	2 Qtrs
Loss from investment in affiliate	`EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems`	-	USD	2 Qtrs
Loss from investment in affiliate	`EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems`	$-21.54K	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$5.86M	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$2.65M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$5.49M	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$3.04M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.64M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.48M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-184.06K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.09M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$645.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$305.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.36K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$945.00	USD	2 Qtrs
Interest expense	`InterestExpense`	$21.91K	USD	2 Qtrs
Interest expense	`InterestExpense`	$12.02K	USD	1 Quarter
Interest expense	`InterestExpense`	$251.93K	USD	2 Qtrs
Interest expense	`InterestExpense`	$131.78K	USD	1 Quarter
Nonoperating expenses	`NonoperatingIncomeExpense`	$-20.96K	USD	2 Qtrs
Nonoperating expenses	`NonoperatingIncomeExpense`	$-131.13K	USD	1 Quarter
Nonoperating expenses	`NonoperatingIncomeExpense`	$-11.71K	USD	1 Quarter
Nonoperating expenses	`NonoperatingIncomeExpense`	$-250.56K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.50M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.34M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-315.19K	USD	1 Quarter
Basic and Diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	2 Qtrs
Basic and Diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and Diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and Diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Basic and Diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	106.13M	shares	2 Qtrs
Basic and Diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	107.30M	shares	2 Qtrs
Basic and Diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	106.19M	shares	1 Quarter
Basic and Diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	107.41M	shares	1 Quarter

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.50M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.34M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-315.19K	USD	1 Quarter
Depreciation of leasehold improvements and equipment	`Depreciation`	$106.83K	USD	2 Qtrs
Depreciation of leasehold improvements and equipment	`Depreciation`	$137.28K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$15.71K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$20.54K	USD	2 Qtrs
Share-based compensation expense	`AllocatedShareBasedCompensationExpense`	$1.22M	USD	2 Qtrs
Share-based compensation expense	`AllocatedShareBasedCompensationExpense`	$2.04M	USD	2 Qtrs
Allowance for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$3.37K	USD	2 Qtrs
Allowance for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$16.17K	USD	2 Qtrs
Gain on exchange of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Gain on exchange of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-17.30K	USD	2 Qtrs
Loss from disposal of equipment	`GainLossOnDispositionOfAssets`	$18.23K	USD	2 Qtrs
Loss from disposal of equipment	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Loss from investment in affiliate	`EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems`	-	USD	2 Qtrs
Loss from investment in affiliate	`EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems`	$-21.54K	USD	2 Qtrs
Non-cash financing costs	`NoncashFinancingCosts`	$92.14K	USD	2 Qtrs
Non-cash financing costs	`NoncashFinancingCosts`	-	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInReceivables`	$-1.30M	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInReceivables`	$-1.20M	USD	2 Qtrs
Other receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$215.00K	USD	2 Qtrs
Other receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	-	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-668.90K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$645.31K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-134.48K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-96.03K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-357.06K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.45M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$427.91K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$81.70K	USD	2 Qtrs
Customer deposits and other	`IncreaseDecreaseInCustomerDeposits`	$-5.25K	USD	2 Qtrs
Customer deposits and other	`IncreaseDecreaseInCustomerDeposits`	$-282.77K	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-31.73K	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-22.52K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.95M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-497.18K	USD	2 Qtrs
Purchases of leasehold improvements and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$139.16K	USD	2 Qtrs
Purchases of leasehold improvements and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.37K	USD	2 Qtrs
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$70.00K	USD	2 Qtrs
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$22.50K	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	-	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	$1.36K	USD	2 Qtrs
Proceeds from investment in affiliate	`ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates`	-	USD	2 Qtrs
Proceeds from investment in affiliate	`ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates`	$1.09M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.00M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-161.66K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$15.60K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$45.09K	USD	2 Qtrs
Proceeds from loan payable	`ProceedsFromIssuanceOfSecuredDebt`	$2.50M	USD	2 Qtrs
Proceeds from loan payable	`ProceedsFromIssuanceOfSecuredDebt`	-	USD	2 Qtrs
Payment of debt issuance cost	`PaymentsOfDebtIssuanceCosts`	$15.00K	USD	2 Qtrs
Payment of debt issuance cost	`PaymentsOfDebtIssuanceCosts`	-	USD	2 Qtrs
Principal payments on capital leases	`RepaymentsOfDebtAndCapitalLeaseObligations`	$78.14K	USD	2 Qtrs
Principal payments on capital leases	`RepaymentsOfDebtAndCapitalLeaseObligations`	$107.27K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.39M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-33.04K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.73M	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-980.71K	USD	2 Qtrs
Cash Beginning of Period	`CashBeginningOfPeriod`	$3.96M	USD	2 Qtrs
Cash Beginning of Period	`CashBeginningOfPeriod`	$2.26M	USD	2 Qtrs
Cash Ending of Period	`Cash`	$3.96M	USD	Point-in-time
Cash Ending of Period	`Cash`	$5.70M	USD	Point-in-time
Cash Ending of Period	`Cash`	$1.28M	USD	Point-in-time
Cash payments for interest	`InterestPaid`	$159.78K	USD	2 Qtrs
Cash payments for interest	`InterestPaid`	$21.91K	USD	2 Qtrs
Capital lease obligation incurred for the purchase of equipment	`CapitalLeaseObligationsIncurred`	$303.93K	USD	2 Qtrs
Capital lease obligation incurred for the purchase of equipment	`CapitalLeaseObligationsIncurred`	$222.63K	USD	2 Qtrs
Retirement of fully depreciated equipment	`RetirementOfFullyDepreciatedEquipment`	-	USD	2 Qtrs
Retirement of fully depreciated equipment	`RetirementOfFullyDepreciatedEquipment`	$56.11K	USD	2 Qtrs
Stock issued to settle outstanding payable balance	`StockIssuedToSettleOutstandingPayableBalance`	-	USD	2 Qtrs
Stock issued to settle outstanding payable balance	`StockIssuedToSettleOutstandingPayableBalance`	$128.49K	USD	2 Qtrs
Changes in prepaid expenses associated with share-based compensation	`ChangesInStockAndWarrantAwardsIssuedForFutureServices`	$55.63K	USD	2 Qtrs
Changes in prepaid expenses associated with share-based compensation	`ChangesInStockAndWarrantAwardsIssuedForFutureServices`	-	USD	2 Qtrs

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$3.69M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$4.00M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$3.90M	USD	Point-in-time
Exercise of stock options, Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	-	shares	2 Qtrs
Exercise of stock options, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$15.60K	USD	1 Quarter
Share-based compensation, Amount	`ShareBasedCompensation`	$507.27K	USD	1 Quarter
Share-based compensation, Amount	`ShareBasedCompensation`	$715.91K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.50M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.34M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-315.19K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$3.69M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$4.00M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$3.90M	USD	Point-in-time

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