10-Q Filing

SWK Holdings Corp CIK: 1089907 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001552781-15-000546`
Period End Date	20150331
Filing Date	20150508
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	swkhob-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 36 Cash Flow Statement 53 Comprehensive Income 14

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$59.49M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.05M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.14M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$168.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$32.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Finance receivables	`NotesAndLoansReceivableNetCurrent`	$93.35M	USD	Point-in-time
Finance receivables	`NotesAndLoansReceivableNetCurrent`	$95.46M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable investments	`MarketableSecurities`	$4.85M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Marketable investments	`MarketableSecurities`	$6.35M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	131.14M	shares	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	$8.74M	USD	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	$9.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	131.06M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	131.06M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	131.14M	shares	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$18.60M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$20.11M	USD	Point-in-time
Warrant assets	`WarrantAssets`	$1.41M	USD	Point-in-time
Warrant assets	`WarrantAssets`	$679.00K	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	$381.00K	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	-	USD	Point-in-time
Total assets	`Assets`	$191.34M	USD	Point-in-time
Total assets	`Assets`	$188.22M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.54M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$864.00K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$421.00K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$586.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.28M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 250,000,000 shares authorized; 131,135,092 and 131,058,303 shares issued and outstanding at March 31, 2015, and December 31, 2014, respectively	`CommonStockValue`	$131.00K	USD	Point-in-time
Common stock, $0.001 par value; 250,000,000 shares authorized; 131,135,092 and 131,058,303 shares issued and outstanding at March 31, 2015, and December 31, 2014, respectively	`CommonStockValue`	$131.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.43B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.43B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.25B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.25B	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$182.07M	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$184.51M	USD	Point-in-time
Non-controlling interests in consolidated entities	`MinorityInterest`	$4.70M	USD	Point-in-time
Non-controlling interests in consolidated entities	`MinorityInterest`	$4.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$189.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$186.93M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$188.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$191.34M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$2.03M	USD	Annual
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$4.14M	USD	1 Quarter
Marketable investments interest income	`InvestmentIncomeInterest`	$91.00K	USD	Annual
Marketable investments interest income	`InvestmentIncomeInterest`	$90.00K	USD	1 Quarter
Income related to investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$1.50M	USD	Annual
Income related to investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$1.55M	USD	1 Quarter
Other	`OtherSalesRevenueNet`	$15.00K	USD	1 Quarter
Other	`OtherSalesRevenueNet`	$43.00K	USD	Annual
Total Revenues	`Revenues`	$3.67M	USD	Annual
Total Revenues	`Revenues`	$5.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$189.00K	USD	Annual
Interest expense	`InterestExpense`	$381.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.22M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$669.00K	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$858.00K	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$1.60M	USD	1 Quarter
Unrealized net gain on derivatives	`UnrealizedGainLossOnDerivatives`	$371.00K	USD	1 Quarter
Unrealized net gain on derivatives	`UnrealizedGainLossOnDerivatives`	$154.00K	USD	Annual
Income before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.57M	USD	1 Quarter
Income before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.96M	USD	Annual
Provision for income tax	`IncomeTaxExpenseBenefit`	$706.00K	USD	Annual
Provision for income tax	`IncomeTaxExpenseBenefit`	$1.51M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$3.07M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$2.26M	USD	Annual
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$801.00K	USD	Annual
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$811.00K	USD	1 Quarter
Net income attributable to SWK Holdings Corporation Stockholders	`NetIncomeLoss`	$1.46M	USD	Annual
Net income attributable to SWK Holdings Corporation Stockholders	`NetIncomeLoss`	$2.26M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.04	USD	Annual
Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.04	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	129.96M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	41.46M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.53M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	130.05M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$3.07M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$2.26M	USD	Annual
Income from investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$1.50M	USD	Annual
Income from investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$1.55M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$706.00K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$1.51M	USD	1 Quarter
Interest income in excess of cash collected	`PaidInKindInterest`	$-431.00K	USD	Annual
Interest income in excess of cash collected	`PaidInKindInterest`	$-33.00K	USD	1 Quarter
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$344.00K	USD	1 Quarter
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$72.00K	USD	Annual
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-154.00K	USD	Annual
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-371.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$197.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$76.00K	USD	Annual
Debt issuance cost amortization	`AmortizationOfFinancingCosts`	$35.00K	USD	Annual
Debt issuance cost amortization	`AmortizationOfFinancingCosts`	$381.00K	USD	1 Quarter
Property and equipment depreciation	`DepreciationAndAmortization`	-	USD	Annual
Property and equipment depreciation	`DepreciationAndAmortization`	$1.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$86.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-172.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$87.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$273.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$681.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$443.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.26M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.36M	USD	1 Quarter
Net increase in finance receivables	`IncreaseDecreaseInFinanceReceivables`	$11.97M	USD	Annual
Net increase in finance receivables	`IncreaseDecreaseInFinanceReceivables`	$3.42M	USD	1 Quarter
Cash distributions from investments in unconsolidated entities	`EquityMethodInvestmentDividendsOrDistributions`	$1.85M	USD	1 Quarter
Cash distributions from investments in unconsolidated entities	`EquityMethodInvestmentDividendsOrDistributions`	$1.98M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$50.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.00M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.62M	USD	1 Quarter
Proceeds from loan credit agreement	`ProceedsFromLongTermLinesOfCredit`	$6.00M	USD	Annual
Proceeds from loan credit agreement	`ProceedsFromLongTermLinesOfCredit`	-	USD	1 Quarter
Costs of common stock issuance	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Costs of common stock issuance	`PaymentsOfStockIssuanceCosts`	$10.00K	USD	1 Quarter
Distributions to non-controlling interests	`PaymentsToMinorityShareholders`	$1.05M	USD	Annual
Distributions to non-controlling interests	`PaymentsToMinorityShareholders`	$974.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.95M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-984.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.80M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$759.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$58.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$59.49M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$58.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$59.49M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Consideration (notes and preferred stock) received in connection with loan repayment	`ConversionOfStockAmountIssued1`	$8.40M	USD	1 Quarter
Warrants received in conjunction with purchase of financial receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	$191.00K	USD	1 Quarter
Warrants received in conjunction with purchase of financial receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	$99.00K	USD	Annual

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$3.07M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$2.26M	USD	Annual
Unrealized holding gains arising during period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Unrealized holding gains arising during period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	Annual
Less: reclassification adjustment for gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	-	USD	1 Quarter
Less: reclassification adjustment for gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	-	USD	Annual
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	Annual
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$2.26M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.07M	USD	1 Quarter
Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$811.00K	USD	1 Quarter
Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$801.00K	USD	Annual
Comprehensive income attributable to SWK Holdings Corporation Stockholders	`ComprehensiveIncomeNetOfTax`	$1.46M	USD	Annual
Comprehensive income attributable to SWK Holdings Corporation Stockholders	`ComprehensiveIncomeNetOfTax`	$2.26M	USD	1 Quarter

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