SEC Filings

8-K
PERNIX THERAPEUTICS HOLDINGS, INC. filed this Form 8-K on 05/07/2019
Entire Document
 

 

In re: Pernix Sleep, Inc. et al. Case No. 19-10323 (CSS)
Debtors Reporting Period: February 18, 2019 - March 31, 2019

 

MOR - 3
Balance Sheet
(Unaudited)

 

$ USD '000s  As of March 31, 2019
  

Pernix Therapeutics,
LLC(1)

  Cypress
Pharmaceuticals, Inc.
  Pernix Ireland Limited  Pernix Ireland Pain
Designated Activity
Company
  Intercompany Eliminations  Pernix Therapeutics
Holdings, Inc.
  Total
Assets                     
Current assets:                                   
Cash and cash equivalents  $7,552   $4,754   $55   $19   $-     $5   $12,384 
Restricted cash   2,779    -      -      -      -      -      2,779 
Accounts receivable, net   25,742    10,743    106,007    11,884    (117,891)   -      36,486 
Inventory   4,645    6,193    168    -      (6,941)   -      4,065 
Prepaid expenses and other current assets   6,201    83    13    486    (72,000)   72,586    7,369 
Intercompany receivable   153,042    8,963    (282,167)   (7,251)   -      130,655    3,242 
Total current assets   199,962    30,735    (175,924)   5,138    (196,832)   203,246    66,324 
Non-current assets:                                   
Property and equipment, net   421    3    10    -      -      -      434 
Investments   -      -      -      4,428    (109,815)   109,815    4,428 
Intangible assets   11,095    2,875    0    39,556    -      -      53,526 
Goodwill   196    6,457    2,825    2,621    -      -      12,100 
Related party loan receivable   -      -      -      4,584    -      -      4,584 
Other long-term assets   190    -      -      -      -      1,339    1,529 
Total assets  $211,864   $40,070   $(173,089)  $56,326   $(306,648)  $314,401   $142,925 
Liabilities and Stockholders' Equity                                   
Current liabilities:                                   
Accounts payable   2,811    693    72    2    -      -      3,578 
Accrued expenses   42,053    11,780    81    -      -      -      53,913 
Related party payable   3,641    -      -      -      -      -      3,641 
Other liabilities   838    -      296    -      -      -      1,134 
DIP loan   -      -      -      -      -      18,529    18,529 
Total current liabilities:   49,342    12,473    449    2    -      18,529    80,794 
Total liabilities not subject to compromise   49,342    12,473    449    2    -      18,529    80,794 
Total liabilities subject to compromise   124,794    16,106    72,586    52,627    (189,891)   236,017    312,239 
Stockholders' equity/(deficit)   37,728    11,491    (246,124)   3,697    (116,756)   59,856    (250,109)
Total liabilities and stockholders' equity/(deficit)  $211,864   $40,070   $(173,089)  $56,326   $(306,648)  $314,401   $142,925 

 

Notes: 

(1) The Pernix Therapeutics, LLC with Pernix Sleep, LLC intercompany transaction is not included in the above balance sheet presentation. This analysis was completed in connection with the SOFAs/SOALs filed on April 2, 2019. However, to be aligned with the Company’s books and records this was not completed for the MOR.

 

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