|
|
·
|
The Company’s Net Loss per share in the Third Quarter of Fiscal 2013 was $(0.61), compared with Net Income per share of $1.35 in the Third Quarter of the prior fiscal year and Net Loss per share of $(0.68) in the Second Quarter of Fiscal Year 2013.
|
|
|
·
|
CollabRx recorded a Net Loss of $(1.15 million) in the Third Quarter of Fiscal Year 2013, compared with Net Profit of $2.27 million in the Third Quarter of the prior fiscal year and Net Loss of $(1.28 million) in the Second Quarter of Fiscal Year 2013.
|
|
|
·
|
Operating Expenses totaled $1.28 million for the three months ended December 31, 2012 and included a full quarter of the expenses of the merged company.
|
|
|
·
|
CollabRx ended the Third Quarter of Fiscal Year 2013 with approximately $5.1 million in cash.
|
|
|
·
|
Under the terms of a multi-year partnership agreement with Life Technologies Corporation (NASDAQ: LIFE), CollabRx initiated activities during the Fiscal Third Quarter related to the development and commercialization of CollabRx technology and content resources to be used in conjunction with Life Technologies’ global cancer diagnostics development and its laboratory developed test services business.
|
|
|
·
|
CollabRx introduced a second-generation Lung Cancer Therapy Finder App, which is available to 96% of all U.S. oncologists via the “Oncology Next” portion of MedPage Today, a property of Everyday Health. CollabRx subsequently announced an enhancement of the app on February 7, 2013. CollabRx receives license fees and a portion of sponshorship revenue associated with the “Oncology Next” webpage.
|
|
|
·
|
The Third Quarter of Fiscal 2013 marked the completion of the transition of the Company from the former Tegal Corporation to CollabRx, Inc., a data analytics company that uses cloud-based expert systems to inform healthcare decision-making. The Company consolidated operations from Petaluma, CA, and Palo Alto, CA, and completed its relocation into new headquarters in San Francisco, CA.
|
|
December 31,
|
March 31,
|
|||||||
|
2012
|
2012* | |||||||
|
ASSETS
|
||||||||
|
Current assets:
|
||||||||
|
Cash and cash equivalents
|
$ | 5,073 | $ | 7,820 | ||||
|
Prepaid expenses and other current assets
|
149 | 56 | ||||||
|
Other assets of discontinued operations
|
11 | 418 | ||||||
|
Total current assets
|
5,233 | 8,294 | ||||||
|
Property and equipment, net
|
119 | 56 | ||||||
|
Intangible assets, net
|
1,568 | - | ||||||
|
Goodwill
|
603 | - | ||||||
|
Investment in convertible promissory note
|
337 | 312 | ||||||
|
Total assets
|
$ | 7,860 | $ | 8,662 | ||||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||||||
|
Current liabilities:
|
||||||||
|
Accounts payable
|
$ | 51 | $ | 1 | ||||
|
Promissory note
|
500 | - | ||||||
|
Common stock warrant liability
|
16 | 19 | ||||||
|
Accrued expenses and other current liabilities
|
261 | 316 | ||||||
|
Liabilities of discontinued operations
|
16 | 246 | ||||||
|
Total current liabilities
|
844 | 582 | ||||||
|
Deferred tax liability
|
612 | - | ||||||
|
Total liabilities
|
1,456 | 582 | ||||||
|
Stockholders’ equity:
|
||||||||
|
Preferred stock, $0.01 par value; 5,000,000 shares authorized; none issued and outstanding
|
- | - | ||||||
|
Common stock, $0.01 par value; 50,000,000 shares authorized; 1,925,240 and 1,688,807 shares issued and outstanding at December 31, 2012 and March 31, 2012, respectively
|
19 | 17 | ||||||
|
Additional paid-in capital
|
130,489 | 129,052 | ||||||
|
Accumulated other comprehensive loss
|
(142 | ) | (142 | ) | ||||
|
Accumulated deficit
|
(123,962 | ) | (120,847 | ) | ||||
|
Total stockholders’ equity
|
6,404 | 8,080 | ||||||
|
Total liabilities and stockholders’ equity
|
$ | 7,860 | $ | 8,662 | ||||
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
|
December 31,
|
December 31,
|
|||||||||||||||
|
|
2012
|
2011
|
2012
|
2011
|
||||||||||||
|
Revenue
|
$ | - | $ | - | $ | 50 | $ | - | ||||||||
|
Revenue - related party
|
25 | 38 | 75 | 75 | ||||||||||||
|
Total revenue
|
25 | 38 | 125 | 75 | ||||||||||||
|
Cost of revenue
|
18 | -- | 38 | -- | ||||||||||||
|
Gross profit
|
7 | 38 | 87 | 75 | ||||||||||||
|
Operating expenses:
|
||||||||||||||||
|
Engineering
|
-- | -- | 328 | -- | ||||||||||||
|
Research and development
|
285 | -- | 285 | -- | ||||||||||||
|
Sales and marketing expenses
|
127 | -- | 176 | -- | ||||||||||||
|
General and administrative expenses
|
864 | 432 | 2,546 | 1,873 | ||||||||||||
|
Total operating expenses
|
1,276 | 432 | 3,335 | 1,873 | ||||||||||||
|
Operating loss
|
(1,269 | ) | (394 | ) | (3,248 | ) | (1,798 | ) | ||||||||
|
Equity in loss of unconsolidated affiliate
|
-- | (181 | ) | -- | (501 | ) | ||||||||||
|
Other income (expense), net
|
9 | (8 | ) | 29 | 6 | |||||||||||
|
Loss before income tax benefit
|
(1,260 | ) | (583 | ) | (3,219 | ) | (2,293 | ) | ||||||||
|
Income tax benefit
|
(52 | ) | -- | (52 | ) | -- | ||||||||||
|
Loss from continuing operations
|
(1,208 | ) | (583 | ) | (3,167 | ) | (2,293 | ) | ||||||||
|
Income from discontinued operations, net of taxes
|
56 | 2,852 | 52 | 3,091 | ||||||||||||
|
Net (loss) income and comprehensive (loss) income
|
$ | (1,152 | ) | $ | 2,269 | $ | (3,115 | ) | $ | 798 | ||||||
|
Net loss per share from continuing operations:
|
||||||||||||||||
|
Basic and diluted
|
$ | (0.64 | ) | $ | (0.34 | ) | $ | (1.76 | ) | $ | (1.36 | ) | ||||
|
Net income per share from discontinued operations:
|
||||||||||||||||
|
Basic and diluted
|
$ | 0.03 | $ | 1.69 | $ | 0.03 | $ | 1.83 | ||||||||
|
Net (loss) income per share:
|
||||||||||||||||
|
Basic and diluted
|
$ | (0.61 | ) | $ | 1.35 | $ | (1.73 | ) | $ | 0.47 | ||||||
|
Weighted-average shares used in per share computation:
|
||||||||||||||||
|
Basic and diluted
|
1,884 | 1,689 | 1,798 | 1,689 | ||||||||||||