10-Q Filing

VIRNETX HOLDING CORP CIK: 1082324 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001140361-13-031524`
Period End Date	20130630
Filing Date	20130809
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	vhc-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 48 Cash Flow Statement 46 Comprehensive Income 20

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
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	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`	$37.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.88M	USD	Point-in-time
Investments available for sale	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$13.38M	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
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid taxes	`PrepaidTaxes`	-	USD	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`	$601.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$61.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$46.86M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$70.00K	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	51.15M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	51.20M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$65.00K	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`	51.20M	shares	Point-in-time
Intangible and other assets	`IntangibleAndOtherAssets`	$12.00K	USD	Point-in-time
Total assets	`Assets`	$46.93M	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`	$1.86M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$2.69M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$4.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.37M	USD	Point-in-time
Preferred stock, par value $0.0001 per share Authorized: 100,000,000 shares at June 30, 2013 and December 31,2012, Issued and outstanding: none	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.0001 per share Authorized: 100,000,000 shares at June 30, 2013 and December 31,2012, Issued and outstanding: none	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.0001 per share Authorized: 100,000,000 shares at June 30, 2013 and December 31, 2012, Issued and outstanding: 51,203,141 shares at June 30, 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 June 30, 2013 and December 31, 2012, Issued and outstanding: 51,203,141 shares at June 30, 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`	$120.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-77.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-62.92M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$42.38M	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`	$46.93M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RoyaltyRevenue`	$36.00K	USD	2 Qtrs
Revenue	`RoyaltyRevenue`	$300.00K	USD	2 Qtrs
Revenue	`RoyaltyRevenue`	$36.00K	USD	1 Quarter
Revenue	`RoyaltyRevenue`	$6.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$382.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$686.00K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$530.00K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$274.00K	USD	1 Quarter
General, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$18.46M	USD	2 Qtrs
General, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$6.20M	USD	1 Quarter
General, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$15.72M	USD	2 Qtrs
General, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$11.50M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$11.77M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$6.58M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$18.99M	USD	2 Qtrs
Total operating expense	`OperatingExpenses`	$16.41M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-18.96M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-11.73M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-16.11M	USD	2 Qtrs
Gain (loss) on change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-120.00K	USD	1 Quarter
Gain (loss) on change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-1.98M	USD	2 Qtrs
Gain (loss) on change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-2.25M	USD	1 Quarter
Gain (loss) on change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$1.49M	USD	2 Qtrs
Interest income, net	`InterestAndOtherIncome`	$202.00K	USD	2 Qtrs
Interest income, net	`InterestAndOtherIncome`	$56.00K	USD	2 Qtrs
Interest income, net	`InterestAndOtherIncome`	$23.00K	USD	1 Quarter
Interest income, net	`InterestAndOtherIncome`	$128.00K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-13.85M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-14.57M	USD	2 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-20.73M	USD	2 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.67M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$356.00K	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-5.76M	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$354.00K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-3.59M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.92M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-14.97M	USD	2 Qtrs
Basic and diluted loss per share: (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.20	USD	1 Quarter
Basic and diluted loss per share: (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	2 Qtrs
Basic and diluted loss per share: (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.14	USD	1 Quarter
Basic and diluted loss per share: (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	2 Qtrs
Weighted average shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.18M	shares	1 Quarter
Weighted average shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.16M	shares	2 Qtrs
Weighted average shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	50.77M	shares	2 Qtrs
Weighted average shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	50.87M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.92M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-14.97M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$23.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$36.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.34M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$3.34M	USD	2 Qtrs
Net change in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-204.00K	USD	2 Qtrs
Net change in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	2 Qtrs
Change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-120.00K	USD	1 Quarter
Change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-1.98M	USD	2 Qtrs
Change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-2.25M	USD	1 Quarter
Change in value of derivative liability	`UnrealizedGainLossOnDerivatives`	$1.49M	USD	2 Qtrs
Prepaid taxes	`IncreaseDecreaseInPrepaidTaxes`	$-14.96M	USD	2 Qtrs
Prepaid taxes	`IncreaseDecreaseInPrepaidTaxes`	$-5.19M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$487.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$259.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.03M	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.34M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$99.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.45M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$26.00K	USD	2 Qtrs
Purchase of investments	`PaymentsToAcquireAvailableForSaleSecurities`	$33.60M	USD	2 Qtrs
Purchase of investments	`PaymentsToAcquireAvailableForSaleSecurities`	$13.00M	USD	2 Qtrs
Proceeds from sale or maturity of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$26.09M	USD	2 Qtrs
Proceeds from sale or maturity of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$22.21M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$13.09M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.42M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsAndRestrictedStockExercised`	$31.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsAndRestrictedStockExercised`	$1.18M	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromIssuanceOfWarrants`	$156.00K	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromIssuanceOfWarrants`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.33M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$31.00K	USD	2 Qtrs
Net (increase) decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.22M	USD	2 Qtrs
Net (increase) decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.53M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$49.48M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.95M	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`	$32.88M	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`	$37.95M	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`	$32.88M	USD	Point-in-time

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.92M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-14.97M	USD	2 Qtrs
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-12.00K	USD	2 Qtrs
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-12.00K	USD	1 Quarter
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	-	USD	2 Qtrs
Change in unrealized gain (loss) on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$4.00K	USD	1 Quarter
Change in unrealized gain (loss) on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-17.00K	USD	2 Qtrs
Change in unrealized gain (loss) on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-4.00K	USD	2 Qtrs
Change in unrealized gain (loss) on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.00K	USD	1 Quarter
Other Comprehensive Income (Loss), Tax	`OtherComprehensiveIncomeOtherNetOfTax`	$1.00K	USD	1 Quarter
Other Comprehensive Income (Loss), Tax	`OtherComprehensiveIncomeOtherNetOfTax`	$-8.00K	USD	1 Quarter
Other Comprehensive Income (Loss), Tax	`OtherComprehensiveIncomeOtherNetOfTax`	$-16.00K	USD	2 Qtrs
Other Comprehensive Income (Loss), Tax	`OtherComprehensiveIncomeOtherNetOfTax`	$-17.00K	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-7.04M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-14.99M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-10.26M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-14.94M	USD	2 Qtrs

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