10-K Filing

SWK Holdings Corp CIK: 1089907 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001552781-17-000140`
Period End Date	20161231
Filing Date	20170317
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	swkh-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 40 Cash Flow Statement 66 Stockholders Equity 16 Comprehensive Income 12

Balance Sheet 62 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`	$32.18M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.29M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.13M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.05M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Finance receivables, net	`NotesAndLoansReceivableNetCurrent`	$126.37M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Finance receivables, net	`NotesAndLoansReceivableNetCurrent`	$99.35M	USD	Point-in-time
Marketable investments	`MarketableSecurities`	$2.62M	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
Investment in unconsolidated entities	`EquityMethodInvestments`	$6.99M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	$7.99M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	$9.04M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.14M	shares	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$16.83M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$38.47M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.12M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.12M	shares	Point-in-time
Warrant assets	`WarrantAssets`	$1.01M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.14M	shares	Point-in-time
Warrant assets	`WarrantAssets`	$1.90M	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssets`	$240.00K	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`	$208.93M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$788.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$682.00K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$189.00K	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`	$871.00K	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`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
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; 13,144,292, and 13,115,909 shares issued and outstanding at December 31, 2016 and 2015, respectively	`CommonStockValue`	$13.00K	USD	Point-in-time
Common stock, $0.001 par value; 250,000,000 shares authorized; 13,144,292, and 13,115,909 shares issued and outstanding at December 31, 2016 and 2015, 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`	$-4.26B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.23B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-87.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$204.31M	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$175.14M	USD	Point-in-time
Non-controlling interests in consolidated entities	`MinorityInterest`	$4.30M	USD	Point-in-time
Non-controlling interests in consolidated entities	`MinorityInterest`	$3.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$208.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$179.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$208.93M	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`	$15.75M	USD	Annual
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$17.27M	USD	Annual
Marketable investments interest income	`InvestmentIncomeInterest`	$92.00K	USD	Annual
Marketable investments interest income	`InvestmentIncomeInterest`	$266.00K	USD	Annual
Income related to investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$6.22M	USD	Annual
Income related to investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$5.88M	USD	Annual
Other	`OtherSalesRevenueNet`	$322.00K	USD	Annual
Other	`OtherSalesRevenueNet`	$45.00K	USD	Annual
Total revenues	`Revenues`	$23.46M	USD	Annual
Total revenues	`Revenues`	$22.38M	USD	Annual
Provision for loan credit losses	`ProvisionForLoanAndLeaseLosses`	$1.66M	USD	Annual
Provision for loan credit losses	`ProvisionForLoanAndLeaseLosses`	$10.85M	USD	Annual
Security impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	$-6.64M	USD	Annual
Security impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	$-8.08M	USD	Annual
Interest expense	`InterestExpense`	-	USD	Annual
Interest expense	`InterestExpense`	$381.00K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.38M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.83M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$12.56M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$21.25M	USD	Annual
Change in fair value of warrants	`UnrealizedGainLossOnDerivatives`	$588.00K	USD	Annual
Change in fair value of warrants	`UnrealizedGainLossOnDerivatives`	$-3.31M	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.09M	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.40M	USD	Annual
Income tax (benefit) provision	`DeferredIncomeTaxExpenseBenefit`	$-21.64M	USD	Annual
Income tax (benefit) provision	`DeferredIncomeTaxExpenseBenefit`	$3.27M	USD	Annual
Consolidated net income (loss)	`ProfitLoss`	$-4.36M	USD	Annual
Consolidated net income (loss)	`ProfitLoss`	$32.04M	USD	Annual
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$3.15M	USD	Annual
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$3.01M	USD	Annual
Net income (loss) attributable to SWK Holdings Corporation Stockholders	`NetIncomeLoss`	$-7.37M	USD	Annual
Net income (loss) attributable to SWK Holdings Corporation Stockholders	`NetIncomeLoss`	$28.89M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.57	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.22	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.22	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.57	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13,015.00	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12,986.00	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12,986.00	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13,018.00	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income (loss)	`ProfitLoss`	$-4.36M	USD	Annual
Consolidated net income (loss)	`ProfitLoss`	$32.04M	USD	Annual
Income from investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$6.22M	USD	Annual
Income from investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$5.88M	USD	Annual
Provision for loan credit losses	`ProvisionForLoanAndLeaseLosses`	$1.66M	USD	Annual
Provision for loan credit losses	`ProvisionForLoanAndLeaseLosses`	$10.85M	USD	Annual
Impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	$-6.64M	USD	Annual
Impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	$-8.08M	USD	Annual
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$3.31M	USD	Annual
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-588.00K	USD	Annual
Deferred income tax	`DeferredIncomeTaxesAndTaxCredits`	$3.27M	USD	Annual
Deferred income tax	`DeferredIncomeTaxesAndTaxCredits`	$-21.64M	USD	Annual
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$1.78M	USD	Annual
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$3.11M	USD	Annual
Interest income in excess of cash collected	`PaidInKindInterest`	-	USD	Annual
Interest income in excess of cash collected	`PaidInKindInterest`	$1.06M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$640.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$363.00K	USD	Annual
Debt issuance cost amortization	`AmortizationOfFinancingCosts`	$381.00K	USD	Annual
Debt issuance cost amortization	`AmortizationOfFinancingCosts`	-	USD	Annual
Other	`OtherNoncashIncomeExpense`	$16.00K	USD	Annual
Other	`OtherNoncashIncomeExpense`	$10.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$457.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$74.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$648.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$396.00K	USD	Annual
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-76.00K	USD	Annual
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-106.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.21M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.64M	USD	Annual
Cash distributions from investments in unconsolidated entity	`EquityMethodInvestmentDividendsOrDistributions`	$7.22M	USD	Annual
Cash distributions from investments in unconsolidated entity	`EquityMethodInvestmentDividendsOrDistributions`	$6.94M	USD	Annual
Cash received for settlement of warrants	`ProceedsFromIssuanceOfWarrants`	$1.41M	USD	Annual
Cash received for settlement of warrants	`ProceedsFromIssuanceOfWarrants`	-	USD	Annual
Net increase in finance receivables	`IncreaseDecreaseInFinanceReceivables`	$29.72M	USD	Annual
Net increase in finance receivables	`IncreaseDecreaseInFinanceReceivables`	$25.85M	USD	Annual
Marketable investment principal payment	`MarketableInvestmentPrincipalPayment`	$41.00K	USD	Annual
Marketable investment principal payment	`MarketableInvestmentPrincipalPayment`	$80.00K	USD	Annual
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$3.00K	USD	Annual
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$50.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.05M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.88M	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$17.00K	USD	Annual
Cash paid for fractional shares due to reverse split	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Cash paid for fractional shares due to reverse split	`PaymentsOfStockIssuanceCosts`	$213.00K	USD	Annual
Distribution to non-controlling interests	`PaymentsToMinorityShareholders`	$3.58M	USD	Annual
Distribution to non-controlling interests	`PaymentsToMinorityShareholders`	$3.70M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.77M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.70M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.44M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.11M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$58.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$32.18M	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`	$47.29M	USD	Point-in-time
Common stock received in connection with amendment of finance receivable	`CommonStockReceivedInConnectionWithAmendmentOfFinanceReceivable`	-	USD	Annual
Common stock received in connection with amendment of finance receivable	`CommonStockReceivedInConnectionWithAmendmentOfFinanceReceivable`	$150.00K	USD	Annual
Consideration (notes and preferred stock) received in connection with loan repayment	`ConversionOfStockAmountIssued1`	-	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 finance receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	$4.69M	USD	Annual
Warrants received in conjunction with the origination of finance receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	-	USD	Annual
Common stock received in connection with loan repayment	`StockReceivedInConnectionWithLoanRepayment`	-	USD	Annual
Common stock received in connection with loan repayment	`StockReceivedInConnectionWithLoanRepayment`	$5.84M	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1`	$208.06M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1`	$179.44M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1`	$186.93M	USD	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	$640.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$363.00K	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$17.00K	USD	Annual
Cash paid for fractional shares due to reverse split	`AdjustmentsToAdditionalPaidInCapitalStockSplit`	$-213.00K	USD	Annual
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	Annual
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-87.00K	USD	Annual
Distributions to non-controlling interests	`PaymentsToMinorityShareholders`	$3.58M	USD	Annual
Distributions to non-controlling interests	`PaymentsToMinorityShareholders`	$3.70M	USD	Annual
Net income (loss)	`ProfitLoss`	$-4.36M	USD	Annual
Net income (loss)	`ProfitLoss`	$32.04M	USD	Annual
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1`	$208.06M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1`	$179.44M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1`	$186.93M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income (loss)	`ProfitLoss`	$-4.36M	USD	Annual
Consolidated net income (loss)	`ProfitLoss`	$32.04M	USD	Annual
Change in fair value of securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	Annual
Change in fair value of securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-87.00K	USD	Annual
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-87.00K	USD	Annual
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	Annual
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$31.95M	USD	Annual
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-4.36M	USD	Annual
Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$3.15M	USD	Annual
Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$3.01M	USD	Annual
Comprehensive income (loss) attributable to SWK Holdings Corporation Stockholders	`ComprehensiveIncomeNetOfTax`	$-7.37M	USD	Annual
Comprehensive income (loss) attributable to SWK Holdings Corporation Stockholders	`ComprehensiveIncomeNetOfTax`	$28.80M	USD	Annual

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