10-K Filing

NEXGEL, INC. CIK: 1468929 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001104659-20-040587`
Period End Date	20191231
Filing Date	20200330
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	topp-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 26 Cash Flow Statement 44 Stockholders Equity 14

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$261.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$34.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$102.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$113.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$101.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$37.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$226.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$513.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$361.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	57.51M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	57.51M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$200.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$282.00K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	57.51M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	57.51M	shares	Point-in-time
Operating lease - right of use asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease - right of use asset	`OperatingLeaseRightOfUseAsset`	$917.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$178.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$178.00K	USD	Point-in-time
Total assets	`Assets`	$739.00K	USD	Point-in-time
Total assets	`Assets`	$1.89M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$510.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$157.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$250.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$28.00K	USD	Point-in-time
Warrant liability	`ConvertibleNotesPayableCurrent`	$56.00K	USD	Point-in-time
Warrant liability	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Operating lease liability, current portion	`OperatingLeaseLiabilityCurrent`	$207.00K	USD	Point-in-time
Operating lease liability, current portion	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$801.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$407.00K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$710.00K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$51.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$458.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.51M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Parent's net investment	`ParentsNetInvestmentInEntity`	-	USD	Point-in-time
Parent's net investment	`ParentsNetInvestmentInEntity`	$281.00K	USD	Point-in-time
Preferred Stock, par value $0.001 per share, 5,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, par value $0.001 per share, 5,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, par value $0.001 per share, 100,000,000 shares authorized; 57,505,208 shares issued and outstanding as of December 31, 2019	`CommonStockValue`	$57.00K	USD	Point-in-time
Common Stock, par value $0.001 per share, 100,000,000 shares authorized; 57,505,208 shares issued and outstanding as of December 31, 2019	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$561.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-238.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$281.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$380.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$625.00K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$739.00K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.89M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenues, net	`RevenueFromContractWithCustomerIncludingAssessedTax`	$717.00K	USD	Annual
Revenues, net	`RevenueFromContractWithCustomerIncludingAssessedTax`	$2.21M	USD	Annual
Cost of revenues	`CostOfRevenue`	$854.00K	USD	Annual
Cost of revenues	`CostOfRevenue`	$1.70M	USD	Annual
Gross (loss)/profit	`GrossProfit`	$-137.00K	USD	Annual
Gross (loss)/profit	`GrossProfit`	$514.00K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.40M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.79M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.79M	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.40M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.89M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.92M	USD	Annual
Changes in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-1.00K	USD	Annual
Changes in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-1.00K	USD	1 Quarter
Changes in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	Annual
Changes in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$14.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.92M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.89M	USD	Annual
Net loss per common share - basic	`EarningsPerShareBasic`	$-0.38	USD	Annual
Net loss per common share - basic	`EarningsPerShareBasic`	$-0.14	USD	Annual
Net loss per common share - diluted	`EarningsPerShareDiluted`	$-0.38	USD	Annual
Net loss per common share - diluted	`EarningsPerShareDiluted`	$-0.14	USD	Annual
Weighted average shares used in computing net loss per common share - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	13.57M	shares	Annual
Weighted average shares used in computing net loss per common share - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	5.01M	shares	Annual
Weighted average shares used in computing net loss per common share - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.57M	shares	Annual
Weighted average shares used in computing net loss per common share - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.01M	shares	Annual

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.92M	USD	Annual
Net loss	`ProfitLoss`	$-1.89M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$322.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$67.00K	USD	Annual
Amortization of deferred lease incentive	`AmortizationOfDeferredLeaseIncentive`	$8.00K	USD	Annual
Amortization of deferred lease incentive	`AmortizationOfDeferredLeaseIncentive`	-	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-1.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Provision for excess and slow moving inventory	`InventoryWriteDown`	-	USD	Annual
Provision for excess and slow moving inventory	`InventoryWriteDown`	$-5.00K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	-	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$4.00K	USD	Annual
Changes in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	Annual
Changes in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$14.00K	USD	3 Qtrs
Changes in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-1.00K	USD	1 Quarter
Changes in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-1.00K	USD	Annual
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-66.00K	USD	Annual
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$68.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$12.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$3.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$224.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-189.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$203.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$94.00K	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-273.00K	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$103.00K	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.81M	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.54M	USD	Annual
Issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$730.00K	USD	Annual
Issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net distributions from Former Parent	`ProceedsFromContributionsFromFormerParent`	$1.54M	USD	Annual
Net distributions from Former Parent	`ProceedsFromContributionsFromFormerParent`	$1.34M	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.54M	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$2.08M	USD	Annual
Net Increase in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$261.00K	USD	Annual
Net Increase in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	-	USD	Annual
Cash - Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$261.00K	USD	Point-in-time
Cash - Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash - End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$261.00K	USD	Point-in-time
Cash - End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Accrued construction in progress	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	$150.00K	USD	Annual
Accrued construction in progress	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	-	USD	Annual
Warrants issued as equity issuance cost	`WarrantsIssuedAsEquityIssuanceCost`	-	USD	Annual
Warrants issued as equity issuance cost	`WarrantsIssuedAsEquityIssuanceCost`	$56.00K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$281.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$380.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$625.00K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-1.92M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.89M	USD	Annual
Advances from parent	`AdvancesFromParent`	$1.54M	USD	Annual
Transfers from parent	`TransfersFromParent`	$1.34M	USD	Annual
Reclassification of parent's net investment in connection with spin-off, June 21, 2019	`AdjustmentToAdditionalPaidInCapitalReclassificationOfNetParentInvestmentInConnectionWithSpinOff`	-	USD	Annual
Common stock distributed in connection with spin-off, June 21, 2019	`AdjustmentToAdditionalPaidInCapitalCommonStockDistributedInConnectionWithSpinoff`	-	USD	Annual
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$673.00K	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.00K	USD	Annual
Balance	`StockholdersEquity`	$281.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$380.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$625.00K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.