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 February 17, 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  $2,724   $3,322   $54   $172   $-     $5   $6,276 
Restricted cash   -      -      -      -      -      -      -   
Accounts receivable, net   25,288    12,459    106,007    10,619    (116,626)   -      37,747 
Inventory   5,335    7,309    168    -      (7,960)   -      4,852 
Prepaid expenses and other current assets   6,840    83    14    641    (69,911)   70,503    8,171 
Intercompany receivable   155,249    9,200    (282,167)   (5,972)   -      126,786    3,095 
Total current assets   195,437    32,372    (175,924)   5,459    (194,496)   197,294    60,142 
Non-current assets:                                   
Property and equipment, net   500    3    10    -      -      -      513 
Investments   -      -      -      4,428    (109,815)   109,815    4,428 
Intangible assets   11,108    2,933    0    40,231    -      -      54,272 
Goodwill   196    6,457    2,825    2,621    -      -      12,100 
Related party loan receivable   -      -      -      4,584    -      -      4,584 
Other long-term assets   190    -      -      -      -      1,407    1,597 
Total assets  $207,430   $41,766   $(173,089)  $57,324   $(304,311)  $308,516   $137,636 
Liabilities and Stockholders' Equity                                   
Current liabilities:                                   
Accounts payable  $150   $-     $71   $399   $-     $-      620 
Accrued expenses   38,944    12,922    -      -      -      -      51,866 
Related party payable   -      -      -      -      -      -      -   
Other liabilities   913    -      296    -      -      -      1,209 
DIP loan   -      -      -      -      -      14,185    14,185 
Total current liabilities:   40,007    12,922    367    399    -      14,185    67,880 
Total liabilities not subject to compromise   40,007    12,922    367    399    -      14,185    67,880 
Total liabilities subject to compromise   129,171    16,517    70,496    51,515    (186,537)   233,120    314,283 
Stockholders' equity/(deficit)   38,253    12,327    (243,952)   5,409    (117,775)   61,211    (244,527)
Total liabilities and stockholders' equity/(deficit)  $207,430   $41,766   $(173,089)  $57,324   $(304,311)  $308,516   $137,636 

 

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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