SEC Filings

8-K
PERNIX THERAPEUTICS HOLDINGS, INC. filed this Form 8-K on 11/13/2018
Entire Document
 

PERNIX THERAPEUTICS HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
(Unaudited)

  

      September 30,     December 31,
      2018     2017
Current assets:            
     Cash and cash equivalents   $ 24,511    $ 32,820 
     Accounts receivable, net     66,443      45,317 
     Inventory, net     17,788      5,396 
     Prepaid expenses and other current assets     11,935      8,628 
     Income tax receivable     45      123 
          Total current assets     120,722      92,284 
             
Property and equipment, net     1,000      752 
Goodwill     17,572      12,100 
Intangible assets, net     133,649      96,606 
Other     1,827      2,263 
               Total assets   $ 274,770    $ 204,005 
Liabilities and Stockholders' Deficit            
Current liabilities:            
     Accounts payable   $ 11,302    $ 7,911 
     Accrued personnel expenses     5,181      5,748 
     Accrued allowances     71,698      56,309 
     Other accrued expenses     10,148      6,909 
     Interest payable     6,381      10,612 
     Treximet Secured Notes - current, net         3,664 
     Other liabilities - current     6,901      2,648 
          Total current liabilities     111,611      93,801 
             
Term loan     41,250     
Convertible notes - long-term, net     67,823      65,194 
Exchangeable notes - long-term, net     10,030      7,975 
Delayed draw term loan - long-term, net     37,805      27,248 
Derivative liability     54      93 
Contingent consideration     1,501      1,358 
Treximet Secured Notes - long-term, net     151,364      163,887 
Credit facility     14,185      14,185 
Deferred revenue     10,840     
Arbitration award         2,000 
Other liabilities - long-term     589      2,521 
          Total liabilities     447,052      378,262 
Commitments and contingencies            
Stockholders' deficit:            
     Preferred stock, $0.01 par value; 8,500,000 and 10,000,000 shares authorized             
          at September 30, 2018 and December 31, 2017; no shares issued and
          outstanding at September 30, 2018 and December 31, 2017
       
     Series C convertible preferred stock, $0.01 par value, authorized 1,500,000 shares;             
          81,000 shares issued and outstanding at September 30, 2018        
     Common stock, $0.01 par value, 140,000,000 shares authorized, 13,957,733            
          and 11,841,173 shares issued and outstanding at September 30, 2018 and            
          December 31, 2017, respectively     140      119 
     Additional paid-in capital     274,458      261,158 
     Accumulated other comprehensive loss     85     
     Accumulated deficit     (479,476)     (435,534)
Total Pernix stockholders' deficit     (204,792)     (174,257)
Noncontrolling interests      32,510     
          Total stockholders' deficit     (172,282)     (174,257)
               Total liabilities and stockholders' deficit   $ 274,770    $ 204,005