10-Q/A Filing

VIRNETX HOLDING CORP CIK: 1082324 Q2 2011

Filing Information

Form Type	10-Q/A
Accession Number	`0001140361-11-043585`
Period End Date	20110630
Filing Date	20110825
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	vhc-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 63 Cash Flow Statement 52

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$127.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.05M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.63M	USD	Point-in-time
Preferred stock, issued(in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Investments	`Investments`	$43.46M	USD	Point-in-time
Investments	`Investments`	$12.85M	USD	Point-in-time
Preferred stock, issued(in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$3.00K	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$7.49M	USD	Point-in-time
Prepaid taxes	`PrepaidTaxes`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Current deferred tax benefit	`DeferredTaxLiabilitiesCurrent`	-	USD	Point-in-time
Current deferred tax benefit	`DeferredTaxLiabilitiesCurrent`	$-1.74M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, issued( in shares)	`CommonStockSharesIssued`	49.34M	shares	Point-in-time
Prepaid expense and other current assets	`PrepaidExpenseAndOtherAssets`	$87.00K	USD	Point-in-time
Prepaid expense and other current assets	`PrepaidExpenseAndOtherAssets`	$260.00K	USD	Point-in-time
Common stock, issued( in shares)	`CommonStockSharesIssued`	49.90M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$79.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$73.65M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	49.90M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	49.34M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$19.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.00K	USD	Point-in-time
Intangible and other assets	`IntangibleAndOtherAssets`	$-84.00K	USD	Point-in-time
Intangible and other assets	`IntangibleAndOtherAssets`	$-108.00K	USD	Point-in-time
Long term deferred tax benefit, net	`DeferredTaxAssetsNetNoncurrent`	$1.65M	USD	Point-in-time
Long term deferred tax benefit, net	`DeferredTaxAssetsNetNoncurrent`	$54.00K	USD	Point-in-time
Total assets	`Assets`	$81.69M	USD	Point-in-time
Total assets	`Assets`	$73.80M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$519.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$870.00K	USD	Point-in-time
Income tax liability	`AccruedIncomeTaxesCurrent`	$7.36M	USD	Point-in-time
Income tax liability	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilityNotionalAmount`	$16.88M	USD	Point-in-time
Derivative liability	`DerivativeLiabilityNotionalAmount`	$14.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.24M	USD	Point-in-time
Preferred stock, par value $0.0001 per share Authorized: 10,000,000 shares, issued and outstanding: 0 shares at June 30, 2011 and December 31, 2010, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.0001 per share Authorized: 10,000,000 shares, issued and outstanding: 0 shares at June 30, 2011 and December 31, 2010, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.0001 per share Authorized: 100,000,000 shares, issued and outstanding: 49,899,892 shares at June 30, 2011 and 49,341,028 at December 31, 2010	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, par value $0.0001 per share Authorized: 100,000,000 shares, issued and outstanding: 49,899,892 shares at June 30, 2011 and 49,341,028 at December 31, 2010	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$91.74M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$78.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-35.67M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-24.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-984.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$56.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$59.45M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$81.69M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$73.80M	USD	Point-in-time

Income Statement 63 line items

Line Item	Tag	Value	Unit	Period
Revenue - royalties	`RoyaltyRevenue`	$23.00K	USD	1 Quarter
Revenue - royalties	`RoyaltyRevenue`	$1.00K	USD	1 Quarter
Revenue - royalties	`RoyaltyRevenue`	$44.00K	USD	2 Qtrs
Revenue - royalties	`RoyaltyRevenue`	$17.00K	USD	2 Qtrs
Royalty expense	`RoyaltyExpense`	-	USD	2 Qtrs
Royalty expense	`RoyaltyExpense`	-	USD	1 Quarter
Royalty expense	`RoyaltyExpense`	$59.24M	USD	1 Quarter
Royalty expense	`RoyaltyExpense`	$59.24M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.75M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.23M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$431.00K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$235.00K	USD	1 Quarter
General, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$28.41M	USD	2 Qtrs
General, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$6.09M	USD	2 Qtrs
General, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$3.52M	USD	1 Quarter
General, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$24.45M	USD	1 Quarter
Gain on settlement	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Gain on settlement	`GainLossRelatedToLitigationSettlement`	$-200.00M	USD	1 Quarter
Gain on settlement	`GainLossRelatedToLitigationSettlement`	$-200.00M	USD	2 Qtrs
Total operating expense (income)	`OperatingExpenses`	$-110.60M	USD	2 Qtrs
Total operating expense (income)	`OperatingExpenses`	$3.75M	USD	1 Quarter
Total operating expense (income)	`OperatingExpenses`	$6.52M	USD	2 Qtrs
Total operating expense (income)	`OperatingExpenses`	$-115.08M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$115.10M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$110.64M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-3.75M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-6.51M	USD	2 Qtrs
Loss on change in value of embedded derivative and warrants	`UnrealizedGainLossOnDerivatives`	$-6.98M	USD	2 Qtrs
Loss on change in value of embedded derivative and warrants	`UnrealizedGainLossOnDerivatives`	$-7.06M	USD	1 Quarter
Loss on change in value of embedded derivative and warrants	`UnrealizedGainLossOnDerivatives`	$-2.54M	USD	1 Quarter
Loss on change in value of embedded derivative and warrants	`UnrealizedGainLossOnDerivatives`	$-12.19M	USD	2 Qtrs
Interest and other income, net	`NonoperatingIncomeExpense`	$68.00K	USD	1 Quarter
Interest and other income, net	`NonoperatingIncomeExpense`	$12.00K	USD	1 Quarter
Interest and other income, net	`NonoperatingIncomeExpense`	$128.00K	USD	2 Qtrs
Interest and other income, net	`NonoperatingIncomeExpense`	$13.00K	USD	2 Qtrs
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$103.67M	USD	2 Qtrs
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-18.57M	USD	2 Qtrs
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$112.58M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.74M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-940.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$34.00M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-1.64M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$34.00M	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$78.58M	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-9.80M	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-16.93M	USD	2 Qtrs
Net Income (loss)	`NetIncomeLoss`	$69.67M	USD	2 Qtrs
Basic earnings (loss) per share:(in dollars per share)	`EarningsPerShareBasic`	$1.63	USD	2 Qtrs
Basic earnings (loss) per share:(in dollars per share)	`EarningsPerShareBasic`	$1.78	USD	1 Quarter
Basic earnings (loss) per share:(in dollars per share)	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Basic earnings (loss) per share:(in dollars per share)	`EarningsPerShareBasic`	$-0.34	USD	2 Qtrs
Diluted earnings (loss) per share: (in dollars per share)	`EarningsPerShareDiluted`	$-0.20	USD	1 Quarter
Diluted earnings (loss) per share: (in dollars per share)	`EarningsPerShareDiluted`	$1.67	USD	1 Quarter
Diluted earnings (loss) per share: (in dollars per share)	`EarningsPerShareDiluted`	$1.54	USD	2 Qtrs
Diluted earnings (loss) per share: (in dollars per share)	`EarningsPerShareDiluted`	$-0.34	USD	2 Qtrs
Weighted average shares outstanding basic(in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	49,605.00	shares	2 Qtrs
Weighted average shares outstanding basic(in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	44,277.00	shares	1 Quarter
Weighted average shares outstanding basic(in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	42,721.00	shares	2 Qtrs
Weighted average shares outstanding basic(in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	49,748.00	shares	1 Quarter
Weighted average shares outstanding diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	49,748.00	shares	1 Quarter
Weighted average shares outstanding diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	49,605.00	shares	2 Qtrs
Weighted average shares outstanding diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47,266.00	shares	1 Quarter
Weighted average shares outstanding diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	45,248.00	shares	2 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$78.58M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-9.80M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-16.93M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$69.67M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.57M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.86M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$30.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$30.00K	USD	2 Qtrs
Net change in deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$3.61M	USD	2 Qtrs
Net change in deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-6.98M	USD	2 Qtrs
Change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-7.06M	USD	1 Quarter
Change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-2.54M	USD	1 Quarter
Change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-12.19M	USD	2 Qtrs
Receivables and other current assets	`ReceivablesAndOtherCurrentAssets`	$19.00K	USD	2 Qtrs
Receivables and other current assets	`ReceivablesAndOtherCurrentAssets`	$170.00K	USD	2 Qtrs
Pre paid taxes	`IncreaseDecreaseInPrepaidTaxes`	$7.49M	USD	2 Qtrs
Pre paid taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$351.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$30.09M	USD	2 Qtrs
Income tax liability	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	2 Qtrs
Income tax liability	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-7.36M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$108.33M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.91M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	2 Qtrs
Proceeds from sale of investments, net	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	-	USD	2 Qtrs
Proceeds from sale of investments, net	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$30.59M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$30.59M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00K	USD	2 Qtrs
Payment of royalty obligation less imputed interest	`ProceedsFromPaymentsForOtherFinancingActivities`	$160.00K	USD	2 Qtrs
Payment of royalty obligation less imputed interest	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$175.00K	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$272.00K	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromIssuanceOfWarrants`	$1.57M	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromIssuanceOfWarrants`	$16.73M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.74M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.84M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$18.42M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$125.17M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$127.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.05M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.01M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.63M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$127.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.05M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$34.63M	USD	Point-in-time
Cash paid during the period for taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid during the period for taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	$10.00K	USD	2 Qtrs

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