10-Q Filing

VIRNETX HOLDING CORP CIK: 1082324 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001140361-13-020133`
Period End Date	20130331
Filing Date	20130510
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	vhc-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 24 Cash Flow Statement 42 Comprehensive Income 6

Balance Sheet 54 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.96M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.66M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.58M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Investments available for sale	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$26.49M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Investments available for sale	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$21.09M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$14.96M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$14.96M	USD	Point-in-time
Prepaid expense and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$114.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expense and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$642.00K	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$54.27M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$61.23M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	51.15M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$70.00K	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	51.15M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$68.00K	USD	Point-in-time
Intangible and other assets	`IntangibleAndOtherAssets`	$12.00K	USD	Point-in-time
Intangible and other assets	`IntangibleAndOtherAssets`	-	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	51.15M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	51.15M	shares	Point-in-time
Total assets	`Assets`	$54.34M	USD	Point-in-time
Total assets	`Assets`	$61.31M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.20M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.13M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$2.57M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$4.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.37M	USD	Point-in-time
Preferred stock, par value $0.0001 per share Authorized: 10,000,000 shares at March 31, 2013, and December 31, 2012, Issued and outstanding: 0 shares at March 31, 2013 and December 31, 2012	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.0001 per share Authorized: 10,000,000 shares at March 31, 2013, and December 31, 2012, Issued and outstanding: 0 shares at March 31, 2013 and December 31, 2012	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.0001 per share Authorized: 100,000,000 shares at March 31, 2013 and December 31, 2012, Issued and outstanding: 51,151,075 shares at March 31, 2013, and 51,150,242 shares at December 31, 2012	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, par value $0.0001 per share Authorized: 100,000,000 shares at March 31, 2013 and December 31, 2012, Issued and outstanding: 51,151,075 shares at March 31, 2013, and 51,150,242 shares at December 31, 2012	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$116.86M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$118.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-62.92M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-70.81M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$47.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$53.94M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$61.31M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$54.34M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RoyaltyRevenue`	$293.00K	USD	1 Quarter
Revenue	`RoyaltyRevenue`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$304.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$256.00K	USD	1 Quarter
General, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$6.97M	USD	1 Quarter
General, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$9.52M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$7.22M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$9.82M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.22M	USD	1 Quarter
Gain on change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$269.00K	USD	1 Quarter
Gain on change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$1.61M	USD	1 Quarter
Interest income, net	`InterestAndOtherIncome`	$34.00K	USD	1 Quarter
Interest income, net	`InterestAndOtherIncome`	$74.00K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.89M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.88M	USD	1 Quarter
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	$-2.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	1 Quarter
Weighted average shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	50.66M	shares	1 Quarter
Weighted average shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.15M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.58M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$873.00K	USD	1 Quarter
Net change in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	1 Quarter
Net change in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-7.00K	USD	1 Quarter
Change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$269.00K	USD	1 Quarter
Change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$1.61M	USD	1 Quarter
Prepaid taxes	`IncreaseDecreaseInPrepaidTaxes`	$2.18M	USD	1 Quarter
Prepaid taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$528.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$356.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.53M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$930.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.09M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.49M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireAvailableForSaleSecurities`	$23.98M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireAvailableForSaleSecurities`	$12.99M	USD	1 Quarter
Proceeds from sale or maturity of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$18.39M	USD	1 Quarter
Proceeds from sale or maturity of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$18.46M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.39M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.53M	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$90.00K	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$17.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$17.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$90.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.53M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.08M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$49.48M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.66M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.58M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$39.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$49.48M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.66M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.58M	USD	Point-in-time
Cash paid during the period for taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Cash paid during the period for taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Change in unrealized loss on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-8.00K	USD	1 Quarter
Change in unrealized loss on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-18.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-7.90M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-4.72M	USD	1 Quarter

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