We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tyratech (DI/S) | LSE:TYR | London | Ordinary Share | COM SHS USD0.001 (DI / REGS) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.95 | 2.70 | 3.20 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Total revenue for the six month period to 30 June 2014 was $1.3 million (2013: $0.8 million). Gross product sales were $1.0 million, with net product sales of $0.9 million (2013: $0) and resulted from the retail launch of Vamousse Treatment mousse at Walmart in the USA and the Natunex brand of insect control products by Novartis Animal Health. Collaborative revenue decreased to $0.4 million (2013: $0.8 million). Collaborative revenue includes upfront licence fee amortisation and cost reimbursement from our Envance Technologies and Mondelez Global agreements. Licencefees remained constant at $0.3 million (2013: $0.3 million). Cost reimbursement from Mondelez Global decreased to $16,000 (2013: $25,000) as a result of decreased expenditures on the project by TyraTech, and the cost reimbursement from Envance Technologies decreased to $0.1 million (2013: $0.5 million) as a result of Envance hiring salaried staff in the second half of 2013 to perform work previously provided by TyraTech.
Cost of sales and gross profit
Material and manufacturing costs for product sales were $0.3 million (2013: $0) and costs for our Mondelez Global and Envance Technologies agreements were $0.1 million (2013: $0.5 million). Gross profit increased to $0.8 million and 65% (2013: $0.3 million and 33%) primarily as a result of product revenue generated in the first half of 2014.
Operating expenses
Overall operating expenses from continuing operations increased by 41% for the six month period to $3.5 million (2013: $2.5 million). This increase in operating expenses was primarily driven by a $1.0 million increase in US and UK marketing costs related to the Vamousse head lice treatment/shampoo and personal repellants. Operating expenses for the six months included non-cash equity compensation of $0.1 million (2013: $0.1 million) and depreciation of $48,899 (2013: $57,967).
Liquidity and cash flow
Cash used in operations for the period was $3.2 million compared to $1.9 million in the first half of 2013, a $1.3 million increase from the first half of 2013. This increase is primarily due to an increase spend in US marketing in 2014, as well as the initial costs of opening a TyraTech branch office and launching Vamousse head lice treatment/shampoo in the UK for sales in the second half of 2014.
In February the Company raised $2.9 million in capital, net of expenses, through the issuance of 37,391,763 common shares to fund our operations while we continued negotiations with our existing and new partners. Post the period end, in July, the Company raised an additional $5.7 million (net of expenses).
The Company invests its cash resources in deposits with banks with the highest credit ratings, putting security before absolute levels of return.
R. Daniel Williams
Chief Financial Officer
29 September 2014
Consolidated Statements of Operations
in $'000 (except share information)
(Unaudited) six months ended 30 June Year ended 31 December 2014 2013 2013 Revenues: Product sales $887 $- $- Collaborative revenue 393 765 1,366 -------------- ------------------------ ------------------------------ Total revenue 1,280 765 1,366 Cost and expenses related to product sales and collaborative revenue: Product costs 301 - - Collaborative costs and expenses 142 514 733 -------------- ------------------------ ------------------------------ Total costs and expenses 443 514 733 -------------- ------------------------ ------------------------------ Gross Profit 837 251 633 -------------- ------------------------ ------------------------------ Costs and expenses: General and administrative 1,591 1,526 2,798 Business and development 1,073 93 430 Research and technical development 804 848 1,754 -------------- ------------------------ ------------------------------ Total costs and expenses 3,468 2,467 4,982 -------------- ------------------------ ------------------------------ Loss from operations (2,631) (2,216) (4,349) Other income (expense): Warrant expense (450) (390) (210) Net loss on unconsolidated subsidiary - (217) (359) Interest/other expense (25) - 16 -------------- ------------------------ ------------------------------ Loss before income taxes (3,106) (2,823) (4,902) Income tax expense - - - -------------- ------------------------ ------------------------------ Net loss attributable to TyraTech, Inc. $(3,106) $(2,823) $(4,902) ============== ======================== ============================== Net loss per common share attributable to TyraTech, Inc. Basic and diluted $(0.02) $(0.02) $(0.03) 136,289,682 Weighted average number of common shares: Basic and diluted 194,341,270 152,417,371 The accompanying notes are an integral part of these unaudited interim consolidated financial statements.
Consolidated Balance Sheets
in $'000 (except share information)
(Unaudited) six months ended 30 June Year ended 31 December 2014 2013 2013 Assets Current assets: Cash and cash equivalents $576 $3,658 $873 Accounts receivable, net 621 176 85 Inventory 267 17 63 Prepaid expenses 123 27 150 Total current assets 1,587 3,878 1,171 ----------------------- ----------------------- ----------------------------- Property and equipment, net of accumulated depreciation Investment in unconsolidated subsidiary 126 215 167 Long term deposits - 142 - 66 65 66 Total assets $1,779 $4,300 $1,404 ----------------------- ----------------------- ----------------------------- Liabilities and
1 Year Tyratech Chart |
1 Month Tyratech Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions