Lipocine Inc
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 7, 2024
LPCN$1.59-7.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | ||||
|---|---|---|---|---|
| 2023 · 2022 | ||||
| Cash flows from operating activities: | ||||
| Net loss | $(16,352,082) | $(10,758,636) | ||
| Adjustments to reconcile net loss to cash used in operating activities: | ||||
| Depreciation expense | 28,661 | 9,453 | ||
| Stock-based compensation expense | 654,438 | 636,140 | ||
| Non-cash interest expense | - | 5,842 | ||
| Non-cash gain on change in fair value of warrant liability | (212,690) | (565,940) | ||
| Gain on settlement of litigation liability | - | (250,000) | ||
| Amortization of discounts on marketable investment securities | (952,651) | (122,048) | ||
| Write off of contract asset due to variable consideration revenue reversal | 2,960,805 | - | ||
| Changes in operating assets and liabilities: | ||||
| Accrued interest income | 28,173 | 166,826 | ||
| Contract asset | 709,933 | 218,072 | ||
| Prepaid and other current assets | 333,085 | 569,146 | ||
| Accounts payable | 795,589 | (688,954) | ||
| Accrued expenses | 140,748 | 61,280 | ||
| Litigation settlement liability | - | (1,250,000) | ||
| Cash used in operating activities | (11,865,991) | (11,968,819) | ||
| Cash flows from investing activities: | ||||
| Purchase of property and equipment | (13,167) | (133,831) | ||
| Purchases of marketable investment securities | (22,902,147) | (45,074,462) | ||
| Maturities of marketable investment securities | 36,000,000 | 59,502,000 | ||
| Cash provided by investing activities | 13,084,686 | 14,293,707 | ||
| Cash flows from financing activities: | ||||
| Debt repayments | - | (1,666,667) | ||
| End of loan payment | - | (650,000) | ||
| Net proceeds from sale of common stock through ATM | 404,567 | (21,700) | ||
| Proceeds from stock option exercises | - | 211,423 | ||
| Cash provided by (used in) financing activities | 404,567 | (2,126,944) | ||
| Net increase in cash and cash equivalents | 1,623,262 | 197,944 | ||
| Cash and cash equivalents at beginning of period | 3,148,496 | 2,950,552 | ||
| Cash and cash equivalents at end of period | $4,771,758 | $3,148,496 | ||
| Supplemental disclosure of cash flow information: | ||||
| Interest paid | $ | - | $21,256 | |
| Income taxes paid | $225 | 200 | ||
| Supplemental disclosure of non-cash investing and financing activity: | ||||
| Net unrealized gain (loss) on available-for-sale securities | $27,580 | $(2,305) | ||
| Accrued final payment charge on debt | $ | - | $5,842 | |
| Issuance of Series B preferred stock | $89 | $ | - | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.