10-K Filing

SWK Holdings Corp CIK: 1089907 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001552781-16-001431`
Period End Date	20151231
Filing Date	20160324
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	swkhob-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 40 Cash Flow Statement 66 Stockholders Equity 15 Comprehensive Income 14

Balance Sheet 63 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, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.73M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.05M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.13M	USD	Point-in-time
Finance receivables	`NotesAndLoansReceivableNetCurrent`	$99.35M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Finance receivables	`NotesAndLoansReceivableNetCurrent`	$93.35M	USD	Point-in-time
Marketable investments	`MarketableSecurities`	$4.85M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable investments	`MarketableSecurities`	$5.29M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	$7.99M	USD	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	$10.43M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	$9.04M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.09M	shares	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$16.83M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.12M	shares	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$20.11M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.09M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.12M	shares	Point-in-time
Warrant assets	`WarrantAssets`	$1.90M	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
Other assets	`PrepaidExpenseAndOtherAssets`	$32.00K	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssets`	$720.00K	USD	Point-in-time
Total assets	`Assets`	$180.49M	USD	Point-in-time
Total assets	`Assets`	$188.22M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$788.00K	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`	$259.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.28M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`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; 25,000,000 shares authorized; 13,115,909, and 13,090,932 shares issued and outstanding at December 31, 2015 and 2014, respectively	`CommonStockValue`	$13.00K	USD	Point-in-time
Common stock, $0.001 par value; 25,000,000 shares authorized; 13,115,909, and 13,090,932 shares issued and outstanding at December 31, 2015 and 2014, respectively	`CommonStockValue`	$13.00K	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`	$-4.26B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$175.14M	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$182.07M	USD	Point-in-time
Non-controlling interests in consolidated entities	`MinorityInterest`	$4.30M	USD	Point-in-time
Non-controlling interests in consolidated entities	`MinorityInterest`	$4.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$186.93M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$179.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$188.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$180.49M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$17.27M	USD	Annual
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$11.54M	USD	Annual
Marketable investments interest income	`InvestmentIncomeInterest`	$266.00K	USD	Annual
Marketable investments interest income	`InvestmentIncomeInterest`	$360.00K	USD	Annual
Income related to investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$5.88M	USD	Annual
Income related to investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$5.34M	USD	Annual
Other	`OtherSalesRevenueNet`	$157.00K	USD	Annual
Other	`OtherSalesRevenueNet`	$45.00K	USD	Annual
Total Revenues	`Revenues`	$23.46M	USD	Annual
Total Revenues	`Revenues`	$17.40M	USD	Annual
Provision for loan credit losses	`ProvisionForOtherCreditLosses`	-	USD	Annual
Provision for loan credit losses	`ProvisionForOtherCreditLosses`	$10.85M	USD	Annual
Security impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	-	USD	Annual
Security impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	$-6.64M	USD	Annual
Interest expense	`InterestExpense`	$579.00K	USD	Annual
Interest expense	`InterestExpense`	$381.00K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.27M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.38M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$3.85M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$21.25M	USD	Annual
Change in fair value of warrants	`UnrealizedGainLossOnDerivatives`	$-245.00K	USD	Annual
Change in fair value of warrants	`UnrealizedGainLossOnDerivatives`	$-3.31M	USD	Annual
(Loss) income before provision for (benefit from) income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.09M	USD	Annual
(Loss) income before provision for (benefit from) income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.30M	USD	Annual
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$3.27M	USD	Annual
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-10.30M	USD	Annual
Consolidated net (loss) income	`ProfitLoss`	$-4.36M	USD	Annual
Consolidated net (loss) income	`ProfitLoss`	$23.60M	USD	Annual
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.84M	USD	Annual
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$3.01M	USD	Annual
Net (loss) income attributable to SWK Holdings Corporation Stockholders	`NetIncomeLoss`	$20.77M	USD	Annual
Net (loss) income attributable to SWK Holdings Corporation Stockholders	`NetIncomeLoss`	$-7.37M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$3.20	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.57	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.57	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$3.20	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12,986.00	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6,486.00	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12,986.00	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6,492.00	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Consolidated net (loss) income	`ProfitLoss`	$-4.36M	USD	Annual
Consolidated net (loss) income	`ProfitLoss`	$23.60M	USD	Annual
Income from investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$5.88M	USD	Annual
Income from investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$5.34M	USD	Annual
Provision for loan credit losses	`ProvisionForOtherCreditLosses`	-	USD	Annual
Provision for loan credit losses	`ProvisionForOtherCreditLosses`	$10.85M	USD	Annual
Security impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities1`	-	USD	Annual
Security impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities1`	$6.64M	USD	Annual
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$3.31M	USD	Annual
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$245.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-10.30M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$3.27M	USD	Annual
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$448.00K	USD	Annual
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$1.78M	USD	Annual
Interest income in excess of cash collected	`PaidInKindInterest`	$-1.06M	USD	Annual
Interest income in excess of cash collected	`PaidInKindInterest`	$-3.58M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$640.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$844.00K	USD	Annual
Debt issuance cost amortization	`AmortizationOfFinancingCosts`	$143.00K	USD	Annual
Debt issuance cost amortization	`AmortizationOfFinancingCosts`	$381.00K	USD	Annual
Property and equipment depreciation	`DepreciationAndAmortization`	$10.00K	USD	Annual
Property and equipment depreciation	`DepreciationAndAmortization`	$3.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$74.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$525.00K	USD	Annual
Other Assets	`IncreaseDecreaseInOtherOperatingAssets`	$12.00K	USD	Annual
Other Assets	`IncreaseDecreaseInOtherOperatingAssets`	$648.00K	USD	Annual
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$498.00K	USD	Annual
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-76.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.12M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.21M	USD	Annual
Cash distributions from investments in unconsolidated entities	`EquityMethodInvestmentDividendsOrDistributions`	$6.94M	USD	Annual
Cash distributions from investments in unconsolidated entities	`EquityMethodInvestmentDividendsOrDistributions`	$6.72M	USD	Annual
Net increase in finance receivables	`IncreaseDecreaseInFinanceReceivables`	$60.62M	USD	Annual
Net increase in finance receivables	`IncreaseDecreaseInFinanceReceivables`	$25.85M	USD	Annual
Investment in marketable investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$-1.73M	USD	Annual
Investment in marketable investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	Annual
Marketable investment principal payment	`MarketableInvestmentPrincipalPayment`	-	USD	Annual
Marketable investment principal payment	`MarketableInvestmentPrincipalPayment`	$80.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$50.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.88M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-55.63M	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$17.00K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$110.15M	USD	Annual
Cash paid for fractional shares due to reverse split	`PaymentsOfStockIssuanceCosts`	$213.00K	USD	Annual
Cash paid for fractional shares due to reverse split	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Net proceeds from (repayment of) loan credit agreement	`ProceedsFromLongTermLinesOfCredit`	$-5.00M	USD	Annual
Net proceeds from (repayment of) loan credit agreement	`ProceedsFromLongTermLinesOfCredit`	-	USD	Annual
Distribution to non-controlling interests	`PaymentsToMinorityShareholders`	$3.58M	USD	Annual
Distribution to non-controlling interests	`PaymentsToMinorityShareholders`	$3.58M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.77M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$101.57M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.44M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$51.06M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.29M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$58.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$58.73M	USD	Point-in-time
Consideration (notes and preferred stock) received in connection with loan repayment	`ConversionOfStockAmountIssued1`	$230.00K	USD	Annual
Consideration (notes and preferred stock) received in connection with loan repayment	`ConversionOfStockAmountIssued1`	$8.40M	USD	Annual
Warrants received in conjunction with the origination of financial receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	$478.00K	USD	Annual
Warrants received in conjunction with the origination of financial receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	$4.69M	USD	Annual
Common stock received in connection with loan repayment	`StockReceivedInConnectionWithLoanRepayment`	$5.84M	USD	Annual
Common stock received in connection with loan repayment	`StockReceivedInConnectionWithLoanRepayment`	-	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1`	$55.92M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1`	$179.44M	USD	Point-in-time
Beginning Balance, Shares	`SharesOutstanding`	186,934.00	shares	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	$640.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$844.00K	USD	Annual
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$17.00K	USD	Annual
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$110.16M	USD	Annual
Cash paid for fractional shares due to reverse split	`AdjustmentsToAdditionalPaidInCapitalStockSplit`	$-213.00K	USD	Annual
Distribution to non-controlling interests	`PaymentsToMinorityShareholders`	$3.58M	USD	Annual
Distribution to non-controlling interests	`PaymentsToMinorityShareholders`	$3.58M	USD	Annual
Net (loss) income	`ProfitLoss`	$-4.36M	USD	Annual
Net (loss) income	`ProfitLoss`	$23.60M	USD	Annual
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1`	$55.92M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1`	$179.44M	USD	Point-in-time
Ending Balance, Shares	`SharesOutstanding`	186,934.00	shares	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Consolidated net (loss) income	`ProfitLoss`	$-4.36M	USD	Annual
Consolidated net (loss) income	`ProfitLoss`	$23.60M	USD	Annual
Unrealized holding gains arising during period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	Annual
Unrealized holding gains arising during period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	Annual
Less: reclassification adjustment for gains included in net (loss) income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	-	USD	Annual
Less: reclassification adjustment for gains included in net (loss) income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	-	USD	Annual
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	Annual
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	Annual
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$23.60M	USD	Annual
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-4.36M	USD	Annual
Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$2.84M	USD	Annual
Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$3.01M	USD	Annual
Comprehensive (loss) income attributable to SWK Holdings Corporation Stockholders	`ComprehensiveIncomeNetOfTax`	$-7.37M	USD	Annual
Comprehensive (loss) income attributable to SWK Holdings Corporation Stockholders	`ComprehensiveIncomeNetOfTax`	$20.77M	USD	Annual

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