10-K Filing

CADIZ INC CIK: 727273 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001437749-21-007331`
Period End Date	20201231
Filing Date	20210326
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	cdzi20201231_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 30 Cash Flow Statement 59 Stockholders Equity 18

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	100,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.68M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	100,000.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$55.00K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	7,531.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$49.00K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$386.00K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	7,531.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$691.00K	USD	Point-in-time
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
Total current assets	`AssetsCurrent`	$8.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.12M	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
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$53.48M	USD	Point-in-time
Property, plant, equipment and water programs, net	`PropertyPlantAndEquipmentNet`	$49.95M	USD	Point-in-time
Long-term deposit/prepaid expenses	`PrepaidExpenseNoncurrent`	$2.00M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	28.48M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	36.90M	shares	Point-in-time
Long-term deposit/prepaid expenses	`PrepaidExpenseNoncurrent`	$3.00M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	28.48M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.90M	shares	Point-in-time
Equity-method investments	`EquityMethodInvestments`	$729.00K	USD	Point-in-time
Equity-method investments	`EquityMethodInvestments`	$1.35M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Goodwill	`Goodwill`	$3.81M	USD	Point-in-time
Goodwill	`Goodwill`	$7.01M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.12M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.68M	USD	Point-in-time
Total assets	`Assets`	$76.72M	USD	Point-in-time
Total assets	`Assets`	$74.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$194.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$548.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$674.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.54M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$31.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$51.00K	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilitiesCurrent`	$1.85M	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilitiesCurrent`	$2.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$15.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$44.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.13M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$78.60M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$137.56M	USD	Point-in-time
Long-term lease obligations with related party, net	`OperatingLeaseLiabilityNoncurrent`	$15.71M	USD	Point-in-time
Long-term lease obligations with related party, net	`OperatingLeaseLiabilityNoncurrent`	$17.18M	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	`OtherLiabilitiesNoncurrent`	$15.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$99.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$158.84M	USD	Point-in-time
Preferred stock - $.01 par value, 100,000 shares authorized at December 31, 2020 and December 31, 2019; shares issued 7,531 at December 31, 2020 and 0 at December 31, 2019	`PreferredStockValue`	$1.00K	USD	Point-in-time
Preferred stock - $.01 par value, 100,000 shares authorized at December 31, 2020 and December 31, 2019; shares issued 7,531 at December 31, 2020 and 0 at December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $0.01 par value; 70,000,000 shares Authorized at December 31, 2020 and December 31, 2019; shares issued and outstanding: 36,902,361 at December 31, 2020, and 28,480,567 at December 31, 2019	`CommonStockValue`	$285.00K	USD	Point-in-time
Common stock - $0.01 par value; 70,000,000 shares Authorized at December 31, 2020 and December 31, 2019; shares issued and outstanding: 36,902,361 at December 31, 2020, and 28,480,567 at December 31, 2019	`CommonStockValue`	$368.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$513.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$419.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-501.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-539.41M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-25.30M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-82.12M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-86.24M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$74.36M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$76.72M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Total revenues (rental income)	`Revenues`	$541.00K	USD	Annual
Total revenues (rental income)	`Revenues`	$441.00K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$11.91M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$12.16M	USD	Annual
Depreciation	`DepreciationAndAmortization`	$265.00K	USD	Annual
Depreciation	`DepreciationAndAmortization`	$381.00K	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$12.29M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$12.43M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-11.75M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-11.99M	USD	Annual
Interest expense, net	`InterestExpense`	$17.07M	USD	Annual
Interest expense, net	`InterestExpense`	$11.53M	USD	Annual
Other income	`InvestmentIncomeInterest`	$33.00K	USD	Annual
Other income	`InvestmentIncomeInterest`	$226.00K	USD	Annual
Debt conversion expense	`InducedConversionOfConvertibleDebtExpense`	-	USD	Annual
Debt conversion expense	`InducedConversionOfConvertibleDebtExpense`	$197.00K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-12.39M	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-35.64M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-29.03M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$7.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$6.00K	USD	Annual
Loss from equity-method investments	`IncomeLossFromEquityMethodInvestments`	$-2.17M	USD	Annual
Loss from equity-method investments	`IncomeLossFromEquityMethodInvestments`	$-490.00K	USD	Annual
Net loss and comprehensive loss applicable to common stock	`NetIncomeLoss`	$-29.53M	USD	Annual
Net loss and comprehensive loss applicable to common stock	`NetIncomeLoss`	$-37.82M	USD	Annual
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.11	USD	Annual
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.11	USD	Annual
Basic and diluted weighted-average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	34,188.00	shares	Annual
Basic and diluted weighted-average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26,549.00	shares	Annual

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-29.53M	USD	Annual
Net loss	`NetIncomeLoss`	$-37.82M	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$265.00K	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$381.00K	USD	Annual
Amortization of deferred loan costs	`AmortizationOfFinancingCosts`	$81.00K	USD	Annual
Amortization of deferred loan costs	`AmortizationOfFinancingCosts`	$766.00K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$3.86M	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$296.00K	USD	Annual
Interest expense added to loan principal	`PaidInKindInterestAddedToLoanPrincipal`	$7.27M	USD	Annual
Interest expense added to loan principal	`PaidInKindInterestAddedToLoanPrincipal`	$10.03M	USD	Annual
Interest expense added to lease liability	`PaidInKindInterestAddedToLeaseLiability`	$1.27M	USD	Annual
Interest expense added to lease liability	`PaidInKindInterestAddedToLeaseLiability`	$1.45M	USD	Annual
Loss on equity method investments	`IncomeLossFromEquityMethodInvestmentsExcludingInvestingActivities`	$-490.00K	USD	Annual
Loss on equity method investments	`IncomeLossFromEquityMethodInvestmentsExcludingInvestingActivities`	$-2.17M	USD	Annual
Loss on debt conversion and extinguishment of debt	`GainsLossesOnDebtConversionAndExtinguishmentOfDebt`	$-12.39M	USD	Annual
Loss on debt conversion and extinguishment of debt	`GainsLossesOnDebtConversionAndExtinguishmentOfDebt`	$-38.00K	USD	Annual
Debt conversion expense	`InducedConversionOfConvertibleDebtExpense`	-	USD	Annual
Debt conversion expense	`InducedConversionOfConvertibleDebtExpense`	$197.00K	USD	Annual
Compensation charge for stock awards and share options	`ShareBasedCompensation`	$2.10M	USD	Annual
Compensation charge for stock awards and share options	`ShareBasedCompensation`	$562.00K	USD	Annual
Unrealized gain on warrant derivative liabilities	`FairValueAdjustmentOfWarrants`	$139.00K	USD	Point-in-time
Unrealized gain on warrant derivative liabilities	`FairValueAdjustmentOfWarrants`	$-139.00K	USD	Annual
Unrealized gain on warrant derivative liabilities	`FairValueAdjustmentOfWarrants`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$305.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-22.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$605.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$186.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-68.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$129.00K	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.51M	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-729.00K	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.71M	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.43M	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.73M	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.60M	USD	Annual
Contributions to equity-method investments	`PaymentsToAcquireInterestInJointVenture`	$3.11M	USD	Annual
Contributions to equity-method investments	`PaymentsToAcquireInterestInJointVenture`	$904.00K	USD	Annual
Additions to long-term investments	`PaymentsToAcquireInvestments`	$1.00M	USD	Annual
Additions to long-term investments	`PaymentsToAcquireInvestments`	-	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.50M	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.84M	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$14.77M	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$19.39M	USD	Annual
Proceeds from the issuance of long-term debt	`ProceedsFromIssuanceOfDebt`	-	USD	Annual
Proceeds from the issuance of long-term debt	`ProceedsFromIssuanceOfDebt`	$150.00K	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$59.00K	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$43.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$19.34M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.87M	USD	Annual
Net (decrease) increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.12M	USD	Annual
Net (decrease) increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-8.39M	USD	Annual
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.42M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.82M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.69M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.42M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.82M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.69M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-25.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$-82.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.24M	USD	Point-in-time
Issuance of shares pursuant to ATM offerings	`StockIssuedDuringPeriodValueNewIssues`	$19.39M	USD	Annual
Issuance of shares pursuant to ATM offerings	`StockIssuedDuringPeriodValueNewIssues`	$14.77M	USD	Annual
Issuance of shares pursuant to bond conversion	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$12.83M	USD	Annual
Issuance of shares pursuant to bond conversion	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$38.90M	USD	Annual
Reclassification of warrant liability to additional paid-in capital(1)	`CurrentPeriodReclassificationAdjustment`	$-865.00K	USD	Annual
Reclassification of warrant liability to additional paid-in capital(1)	`CurrentPeriodReclassificationAdjustment`	$865.00K	USD	Annual
Impact of warrant down-round feature	`WarrantDownRoundFeatureIncreaseDecreaseInEquityAmount`	-	USD	Annual
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.10M	USD	Annual
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$562.00K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-29.53M	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-37.82M	USD	Annual
Conversion of preferred shares to common shares	`ConversionOfStockAmountIssued1`	-	USD	Annual
Balance	`StockholdersEquity`	$-25.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$-82.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.24M	USD	Point-in-time

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