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Share Name | Share Symbol | Market | Type |
---|---|---|---|
ChromaDex Corporation | NASDAQ:CDXC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.04 | 1.06% | 3.82 | 3.82 | 3.84 | 3.9799 | 3.74 | 3.77 | 153,150 | 19:04:37 |
Delaware
|
|
26-2940963
|
(State or other
jurisdiction of incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
10900 Wilshire Blvd. Suite
650, Los Angeles, California
(Address of
Principal Executive Offices)
|
|
90024
(Zip
Code)
|
Title of each class
|
Trading Symbol
|
Name of Each exchange on which registered
|
Common Stock, $0.001 par value per share
|
CDXC
|
The Nasdaq Capital Market
|
Large accelerated
filer ____
|
Accelerated filer
X
|
Non-accelerated
filer ____
|
Smaller reporting
company
X
|
|
Emerging growth
company ____
|
|
||
|
|
|
|
1
|
|
|
2
|
|
|
3
|
|
|
4
|
|
|
6
|
|
|
|
|
|
|
|
|
29
|
|
|
30
|
|
|
|
|
|
||
31
|
||
31
|
||
|
47
|
|
|
47
|
|
|
47
|
|
|
47
|
|
|
48
|
|
|
49
|
Chrom
a
Dex Corporation and
Subsidiaries
|
|
|
|
|
|
Condensed Consolidated Statements of Operations
|
|
|
For the Three Month Periods Ended June 30, 2019 and June 30,
2018
|
|
|
(In thousands, except per share data)
|
|
|
|
|
|
|
June 30, 2019
|
June
30, 2018
|
|
|
|
Sales,
net
|
$
11,101
|
$
7,803
|
Cost
of sales
|
4,847
|
3,957
|
|
|
|
Gross profit
|
6,254
|
3,846
|
|
|
|
Operating
expenses:
|
|
|
Sales
and marketing
|
4,308
|
3,773
|
Research
and development
|
1,069
|
1,414
|
General
and administrative
|
7,932
|
6,596
|
Other
|
125
|
-
|
Operating expenses
|
13,434
|
11,783
|
|
|
|
Operating loss
|
(7,180
)
|
(7,937
)
|
|
|
|
Nonoperating
income (expense):
|
|
|
Interest
expense, net
|
(575
)
|
(48
)
|
Other
|
-
|
(65
)
|
Nonoperating income (expense):
|
(575
)
|
(113
)
|
|
|
|
Net loss
|
$
(7,755
)
|
$
(8,050
)
|
|
|
|
Basic
and diluted loss per common share
|
$
(0.14
)
|
$
(0.15
)
|
|
|
|
Basic
and diluted weighted average common shares outstanding
|
55,539
|
54,892
|
Chroma
D
ex Corporation and
Subsidiaries
|
|
|
|
|
|
Condensed Consolidated Statements of Operations
|
|
|
For the Six Month Periods Ended June 30, 2019 and June 30,
2018
|
|
|
(In thousands, except per share data)
|
|
|
|
|
|
|
June 30, 2019
|
June
30, 2018
|
|
|
|
Sales,
net
|
$
21,149
|
$
14,370
|
Cost
of sales
|
9,594
|
7,387
|
|
|
|
Gross profit
|
11,555
|
6,983
|
|
|
|
Operating
expenses:
|
|
|
Sales
and marketing
|
8,482
|
7,042
|
Research
and development
|
2,237
|
2,853
|
General
and administrative
|
16,263
|
13,424
|
Other
|
125
|
-
|
Operating expenses
|
27,107
|
23,319
|
|
|
|
Operating loss
|
(15,552
)
|
(16,336
)
|
|
|
|
Nonoperating
income (expense):
|
|
|
Interest
expense, net
|
(540
)
|
(92
)
|
Other
|
-
|
(65
)
|
Nonoperating income (expense):
|
(540
)
|
(157
)
|
|
|
|
Net loss
|
$
(16,092
)
|
$
(16,493
)
|
|
|
|
Basic
and diluted loss per common share
|
$
(0.29
)
|
$
(0.30
)
|
|
|
|
Basic
and diluted weighted average common shares outstanding
|
55,433
|
54,875
|
C
h
romaDex Corporation and
Subsidiaries
|
|
|
|
|
|
Condensed Consolidated Statement of Stockholders'
Equity
|
|
|
|
|
|
For the Six Month Period Ended June 30, 2019
|
|
|
|
|
|
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
Common
Stock
|
Additional
|
Accumulated
|
Stockholders'
|
|
|
Shares
|
Amount
|
Paid-in
Capital
|
Deficit
|
Equity
|
|
|
|
|
|
|
Balance, December 31, 2018
|
55,089
|
$
55
|
$
116,876
|
$
(89,753
)
|
$
27,178
|
|
|
|
|
|
|
Exercise
of stock options
|
65
|
-
|
107
|
-
|
107
|
|
|
|
|
|
|
Share-based
compensation
|
167
|
-
|
2,029
|
-
|
2,029
|
|
|
|
|
|
|
Net
loss
|
-
|
-
|
-
|
(8,337
)
|
(8,337
)
|
|
|
|
|
|
|
Balance,
March 31, 2019
|
55,321
|
$
55
|
$
119,012
|
$
(98,090
)
|
$
20,977
|
|
|
|
|
|
|
Exercise
of stock options
|
63
|
-
|
164
|
-
|
164
|
|
|
|
|
|
|
Share-based
compensation
|
-
|
-
|
1,759
|
-
|
1,759
|
|
|
|
|
|
|
Net
loss
|
-
|
-
|
-
|
(7,755
)
|
(7,755
)
|
|
|
|
|
|
|
Balance, June 30, 2019
|
55,384
|
$
55
|
$
120,935
|
$
(105,845
)
|
$
15,145
|
Ch
r
omaDex Corporation and
Subsidiaries
|
|
|
|
|
|
Condensed Consolidated Statement of Stockholders'
Equity
|
|
|
|
|
|
For the Six Month Period Ended June 30, 2018
|
|
|
|
|
|
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
Common
Stock
|
Additional
|
Accumulated
|
Stockholders'
|
|
|
Shares
|
Amount
|
Paid-in
Capital
|
Deficit
|
Equity
|
Balance,
December 30, 2017
|
54,697
|
$
55
|
$
110,380
|
$
(56,601
)
|
53,834
|
|
|
|
|
|
|
Adjustment
to retained earnings:
|
|
|
|
|
|
cumulative
effect of initially applying ASC 606
|
-
|
-
|
-
|
164
|
164
|
|
|
|
|
|
|
Exercise
of stock options
|
57
|
-
|
255
|
-
|
255
|
|
|
|
|
|
|
Repurchase
of common stock
|
(75
)
|
-
|
(404
)
|
-
|
(404
)
|
|
|
|
|
|
|
Vested
restricted stock
|
2
|
-
|
-
|
-
|
-
|
|
|
|
|
|
|
Share-based
compensation
|
-
|
-
|
1,258
|
-
|
1,258
|
|
|
|
|
|
|
Net
loss
|
-
|
-
|
-
|
(8,443
)
|
(8,443
)
|
|
|
|
|
|
|
Balance,
March 31, 2018
|
54,681
|
$
55
|
$
111,489
|
$
(64,880
)
|
$
46,664
|
|
|
|
|
|
|
Exercise
of stock options
|
22
|
-
|
75
|
-
|
75
|
|
|
|
|
|
|
Share-based
compensation
|
167
|
-
|
1,811
|
-
|
1,811
|
|
|
|
|
|
|
Net
loss
|
-
|
-
|
-
|
(8,050
)
|
(8,050
)
|
|
|
|
|
|
|
Balance, June 30, 2018
|
54,870
|
$
55
|
$
113,375
|
$
(72,930
)
|
$
40,500
|
Chro
m
aDex Corporation and
Subsidiaries
|
|
|
|
|
|
Condensed Consolidated Statements of Cash Flows
|
|
|
For the Six Month Periods Ended June 30, 2019 and June 30,
2018
|
|
|
(In thousands)
|
|
|
|
|
|
|
June 30, 2019
|
June
30, 2018
|
|
|
|
Cash
Flows From Operating Activities
|
|
|
Net
loss
|
$
(16,092
)
|
$
(16,493
)
|
Adjustments
to reconcile net loss to net cash used in operating
activities:
|
|
|
Depreciation
of leasehold improvements and equipment
|
363
|
267
|
Amortization
of intangibles
|
122
|
116
|
Amortization
of right of use assets
|
279
|
-
|
Share-based
compensation
|
3,788
|
3,069
|
Allowance
for doubtful trade receivables
|
(8
)
|
(127
)
|
Loss
from disposal of equipment
|
-
|
1
|
Amortization
of covertible notes issuance costs
|
552
|
-
|
Non-cash
financing costs
|
-
|
70
|
Other
non-cash expense
|
-
|
65
|
Changes
in operating assets and liabilities:
|
|
|
Trade
receivables
|
(1,373
)
|
335
|
Contract
assets
|
4
|
(7
)
|
Inventories
|
(2,465
)
|
(730
)
|
Prepaid
expenses and other assets
|
50
|
(85
)
|
Accounts
payable
|
(224
)
|
3,038
|
Accrued
expenses
|
(671
)
|
39
|
Deferred
revenue
|
3,873
|
-
|
Customer
deposits and other
|
18
|
(21
)
|
Principal
payments on operating leases
|
(285
)
|
-
|
Deferred
rent
|
-
|
26
|
Due
to officer
|
-
|
(100
)
|
Net cash used in operating activities
|
(12,069
)
|
(10,537
)
|
|
|
|
Cash
Flows From Investing Activities
|
|
|
Purchases
of leasehold improvements and equipment
|
(308
)
|
(1,274
)
|
Purchases
of intangible assets
|
(10
)
|
-
|
Investment
in other long-term assets
|
(47
)
|
-
|
Net cash used in investing activities
|
(365
)
|
(1,274
)
|
|
|
|
Cash
Flows From Financing Activities
|
|
|
Proceeds
from sale of convertible notes
|
10,000
|
-
|
Payment
of convertible notes issuance costs
|
(565
)
|
-
|
Payment
of debt issuance costs
|
-
|
(19
)
|
Proceeds
from exercise of stock options
|
271
|
330
|
Repurchase
of common stock
|
-
|
(404
)
|
Principal
payments on finance leases
|
(128
)
|
(96
)
|
Net cash provided by (used in) financing activities
|
9,578
|
(189
)
|
|
|
|
Net
decrease in cash
|
(2,856
)
|
(12,000
)
|
|
|
|
Cash
Beginning of Period, including restricted cash of $0.2 million for
2019
|
22,616
|
45,389
|
|
|
|
Cash
Ending of Period, including restricted cash $0.2 million for
2019
|
$
19,760
|
$
33,389
|
|
|
|
Supplemental
Disclosures of Cash Flow Information
|
|
|
Cash
payments for interest on finance leases
|
$
17
|
$
22
|
|
|
|
Supplemental
Schedule of Noncash Operating Activity
|
|
|
Adjustment
to retained earnings - cumulative effect of initially applying ASC
606
|
$
-
|
$
164
|
Financing
lease obligation incurred for prepayment of licensing
fees
|
$
99
|
$
-
|
|
|
|
Supplemental
Schedule of Noncash Investing Activity
|
|
|
Financing
lease obligation incurred for purchase of software
|
$
143
|
$
-
|
Operating
lease obligation incurred for tenant improvement credit
received
|
$
64
|
$
-
|
|
Three Months Ended
|
Six Months Ended
|
||
(In
thousands, except per share data)
|
June 30, 2019
|
June
30, 2018
|
June 30, 2019
|
June
30, 2018
|
|
|
|
|
|
Net
loss
|
$
(7,755
)
|
$
(8,050
)
|
$
(16,092
)
|
$
(16,493
)
|
|
|
|
|
|
Basic
and diluted loss per common share
|
$
(0.14
)
|
$
(0.15
)
|
$
(0.29
)
|
$
(0.30
)
|
|
|
|
|
|
Basic
and diluted weighted average common shares outstanding
(1):
|
55,539
|
54,892
|
55,433
|
54,875
|
|
|
|
|
|
Potentially
dilutive securities (2):
|
|
|
|
|
Stock
options
|
10,174
|
8,559
|
10,174
|
8,559
|
Warrants
|
140
|
470
|
140
|
470
|
Convertible
notes
|
2,192
|
-
|
2,192
|
-
|
|
Net
sales
Three
months ended
Jun.
30, 2019
|
Net
sales
Six
months ended
Jun.
30, 2019
|
Net
sales
Three
months ended
Jun.
30, 2018
|
Net
sales
Six
months ended
Jun.
30, 2018
|
Trade
receivable at
Jun.
30, 2019
|
Trade
receivable at
Dec.
31, 2018
|
A.S.
Watson Group
|
$1.9
million
|
$3.2
million
|
$0.3
million
|
$1.1
million
|
$1.6
million
|
$0.7
million
|
Horizon
Ventures
|
-
|
-
|
-
|
$0.4
million
|
-
|
-
|
Total
|
$1.9million
|
$3.2
million
|
$0.3
million
|
$1.5
million
|
$1.6
million
|
$0.7
million
|
(In
thousands)
|
Jun.
30, 2019
|
Dec.
31, 2018
|
Bulk
ingredients
|
$
5,257
|
$
2,385
|
Reference
standards
|
806
|
848
|
Consumer Products -
Finished Goods
|
2,597
|
2,450
|
Consumer Products -
Work in Process
|
2,558
|
2,794
|
|
11,218
|
8,477
|
Less valuation
allowance
|
(504
)
|
(228
)
|
|
$
10,714
|
$
8,249
|
Description
|
Conversion
Price
*
|
Extended
Maturity
Date
|
Original
Maturity
Date
|
Interest
Rate
|
Amount
(In
thousands)
|
Principal
|
$
4.59
|
August
15, 2019
|
July 1,
2019
|
5
%
|
$
10,000
|
Debt
Discount, at issuance on May 17, 2019
|
-
|
-
|
-
|
48
%
|
(565
)
|
Debt
Discount, amortized through June 30, 2019
|
|
|
|
|
552
|
Carrying
Value at June 30, 2019
|
|
|
|
|
$
9,987
|
|
At June 30, 2019
|
Weighted-average
remaining lease term (years) – operating leases
|
2.0
|
Weighted-average
discount rate – operating leases
|
8.0
%
|
(In
thousands)
|
|
Six
months ending December 31, 2019
|
$
419
|
Year
Ending December 31, 2020
|
736
|
Year
Ending December 31, 2021
|
629
|
Year
Ending December 31, 2022
|
138
|
Year
Ending December 31, 2023
|
143
|
Thereafter
|
25
|
Total
|
2,090
|
Less
present value discount
|
237
|
Operating
lease liabilities
|
1,854
|
Less
current portion
|
662
|
Long-term
obligations under operating leases
|
$
1,192
|
|
At June 30, 2019
|
Weighted-average
remaining lease term (years) – finance leases
|
1.3
|
Weighted-average
discount rate – finance leases
|
9.0
%
|
(In
thousands)
|
|
Six
months ending December 31, 2019
|
$
164
|
Year
Ending December 31, 2020
|
272
|
Year
Ending December 31, 2021
|
18
|
Total
|
454
|
Less
present value discount
|
30
|
Finance
lease liabilities
|
424
|
Less
current portion
|
303
|
Long-term
obligations under finance leases
|
$
121
|
(In
thousands)
|
Dec.
31,
2018
|
Reductions
(1)
|
Additions
(2)
|
Jun.
30,
2019
|
Contract
Assets
|
$
56
|
$
(128
)
|
$
124
|
$
52
|
Contract
Liabilities - Open Projects (3)
|
101
|
(180
)
|
217
|
138
|
Contract
Liabilities - Other Customer Deposits (4)
|
174
|
(62
)
|
43
|
155
|
Net
Contract Assets (Liabilities)
|
$
(219
)
|
$
114
|
$
(136
)
|
$
(241
)
|
|
|
Weighted
Average
|
|
||
|
|
|
Remaining
|
|
Aggregate
|
|
Number
of
|
Exercise
|
Contractual
|
Fair
|
Intrinsic
|
|
Shares
|
Price
|
Term
(Years)
|
Value
|
Value
|
Outstanding at Dec.
31, 2018
|
8,023
|
$
3.75
|
7.1
|
|
|
Options
Granted
|
1,596
|
3.91
|
9.7
|
$
2.40
|
|
Options
Exercised
|
(128
)
|
2.12
|
|
|
$
243
|
Options
Forfeited
|
(380
)
|
3.74
|
|
|
|
Options
Expired
|
(4
)
|
4.50
|
|
|
|
Outstanding at Jun.
30, 2019
|
9,107
|
$
3.80
|
7.1
|
|
$
9,185
*
|
|
|
|
|
|
|
Exercisable at Jun.
30, 2019
|
5,382
|
$
3.68
|
5.6
|
|
$
6,058
*
|
Six Months Ended
June 30, 2019
|
|
Expected
term
|
6
years
|
Expected
volatility
|
67
%
|
Expected
dividends
|
0
%
|
Risk-free
rate
|
2
%
|
Six
months ended
|
Consumer
|
|
Analytical
Reference
|
|
|
June
30, 2019
|
Products
|
Ingredients
|
Standards
and
|
Corporate
|
|
(In
thousands)
|
segment
|
segment
|
Services
segment
|
and
other
|
Total
|
|
|
|
|
|
|
Net
sales
|
$
16,198
|
$
2,881
|
$
2,070
|
$
-
|
$
21,149
|
Cost
of sales
|
6,590
|
1,454
|
1,550
|
-
|
9,594
|
|
|
|
|
|
|
Gross profit
|
9,608
|
1,427
|
520
|
-
|
11,555
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
Sales
and marketing
|
7,989
|
191
|
302
|
-
|
8,482
|
Research
and development
|
1,844
|
393
|
-
|
-
|
2,237
|
General
and administrative
|
-
|
-
|
-
|
16,263
|
16,263
|
Other
|
-
|
-
|
-
|
125
|
125
|
Operating expenses
|
9,833
|
584
|
302
|
16,388
|
27,107
|
|
|
|
|
|
|
Operating income (loss)
|
$
(225
)
|
$
843
|
$
218
|
$
(16,388
)
|
$
(15,552
)
|
Six
months ended
|
Consumer
|
|
Analytical
Reference
|
|
|
June
30, 2018
|
Products
|
Ingredients
|
Standards
and
|
Corporate
|
|
(In
thousands)
|
segment
|
segment
|
Services
segment
|
and
other
|
Total
|
|
|
|
|
|
|
Net
sales
|
$
6,763
|
$
5,247
|
$
2,360
|
$
-
|
$
14,370
|
Cost
of sales
|
2,678
|
3,033
|
1,676
|
-
|
7,387
|
|
|
|
|
|
|
Gross profit
|
4,085
|
2,214
|
684
|
-
|
6,983
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
Sales
and marketing
|
6,084
|
572
|
386
|
-
|
7,042
|
Research
and development
|
1,677
|
1,176
|
-
|
-
|
2,853
|
General
and administrative
|
-
|
-
|
-
|
13,424
|
13,424
|
Operating expenses
|
7,761
|
1,748
|
386
|
13,424
|
23,319
|
|
|
|
|
|
|
Operating income (loss)
|
$
(3,676
)
|
$
466
|
$
298
|
$
(13,424
)
|
$
(16,336
)
|
|
|
|
|
|
|
At
June 30, 2019
(In
thousands)
|
Consumer
Products
|
Ingredients
|
Analytical
Reference
Standards
and
|
Corporate
|
|
|
segment
|
segment
|
Services
segment
|
and
other
|
Total
|
|
|
|
|
|
|
Total
assets
|
$
8,652
|
$
8,107
|
$
1,186
|
$
26,597
|
$
44,542
|
At
December 31, 2018
(In
thousands)
|
Consumer
Products
|
Ingredients
|
Analytical
Reference
Standards
and
|
Corporate
|
|
|
segment
|
segment
|
Services
segment
|
and
other
|
Total
|
|
|
|
|
|
|
Total
assets
|
$
7,407
|
$
5,412
|
$
1,213
|
$
28,200
|
$
42,232
|
Three
Months Ended June 30, 2019
(In
thousands)
|
Consumer
Products
Segment
|
Ingredients
Segment
|
Analytical
Reference Standards
and
Services
Segment
|
Total
|
|
|
|
|
|
TRU
NIAGEN®, Consumer Product
|
$
8,744
|
$
-
|
$
-
|
$
8,744
|
NIAGEN®
Ingredient
|
-
|
1,080
|
-
|
1,080
|
Subtotal
NIAGEN Related
|
$
8,744
|
$
1,080
|
$
-
|
$
9,824
|
|
|
|
|
|
Other
Ingredients
|
-
|
307
|
-
|
307
|
Reference
Standards
|
-
|
-
|
717
|
717
|
Consulting
and Other
|
-
|
-
|
253
|
253
|
Subtotal
Other Goods and Services
|
$
-
|
$
307
|
$
970
|
$
1,277
|
|
|
|
|
|
Total
Net Sales
|
$
8,744
|
$
1,387
|
$
970
|
$
11,101
|
Three
Months Ended June 30, 2018
(In
thousands)
|
Consumer
Products
Segment
|
Ingredients
Segment
|
Analytical
Reference Standards
and
Services
Segment
|
Total
|
|
|
|
|
|
TRU
NIAGEN®, Consumer Product
|
$
3,732
|
$
-
|
$
-
|
$
3,732
|
NIAGEN®
Ingredient
|
-
|
1,934
|
-
|
1,934
|
Subtotal
NIAGEN Related
|
$
3,732
|
$
1,934
|
$
-
|
$
5,666
|
|
|
|
|
|
Other
Ingredients
|
-
|
945
|
-
|
945
|
Reference
Standards
|
-
|
-
|
820
|
820
|
Consulting
and Other
|
-
|
-
|
372
|
372
|
Subtotal
Other Goods and Services
|
$
-
|
$
945
|
$
1,192
|
$
2,137
|
|
|
|
|
|
Total
Net Sales
|
$
3,732
|
$
2,879
|
$
1,192
|
$
7,803
|
Six
Months Ended June 30, 2019
(In
thousands)
|
Consumer
Products
Segment
|
Ingredients
Segment
|
Analytical
Reference Standards
and
Services
Segment
|
Total
|
|
|
|
|
|
TRU
NIAGEN®, Consumer Product
|
$
16,198
|
$
-
|
$
-
|
$
16,198
|
NIAGEN®
Ingredient
|
-
|
2,190
|
-
|
2,190
|
Subtotal
NIAGEN Related
|
$
16,198
|
$
2,190
|
$
-
|
$
18,388
|
|
|
|
|
|
Other
Ingredients
|
-
|
691
|
-
|
691
|
Reference
Standards
|
-
|
-
|
1,547
|
1,547
|
Consulting
and Other
|
-
|
-
|
523
|
523
|
Subtotal
Other Goods and Services
|
$
-
|
$
691
|
$
2,070
|
$
2,761
|
|
|
|
|
|
Total
Net Sales
|
$
16,198
|
$
2,881
|
$
2,070
|
$
21,149
|
Six
Months Ended June 30, 2018
(In
thousands)
|
Consumer
Products
Segment
|
Ingredients
Segment
|
Analytical
Reference Standards
and
Services
Segment
|
Total
|
|
|
|
|
|
TRU
NIAGEN®, Consumer Product
|
$
6,763
|
$
-
|
$
-
|
$
6,763
|
NIAGEN®
Ingredient
|
-
|
3,197
|
-
|
3,197
|
Subtotal
NIAGEN Related
|
$
6,763
|
$
3,197
|
$
-
|
$
9,960
|
|
|
|
|
|
Other
Ingredients
|
-
|
2,050
|
-
|
2,050
|
Reference
Standards
|
-
|
-
|
1,739
|
1,739
|
Consulting
and Other
|
-
|
-
|
621
|
621
|
Subtotal
Other Goods and Services
|
$
-
|
$
2,050
|
$
2,360
|
$
4,410
|
|
|
|
|
|
Total
Net Sales
|
$
6,763
|
$
5,247
|
$
2,360
|
$
14,370
|
|
Percentage
of the Company's Total Trade Receivables
|
|
|
|
|
Major
Accounts
|
At June
30, 2019
|
At
December 31, 2018
|
|
|
|
A.S.
Watson Group - Related Party
|
27.2
%
|
15.9
%
|
Amazon
Market Place
|
10.4
%
|
*
|
Elysium
Health (1)
|
38.9
%
|
51.2
%
|
|
Three
months ending
|
Six
months ending
|
||||
(In
thousands)
|
June 30, 2019
|
June
30, 2018
|
Change
|
June 30, 2019
|
June
30, 2018
|
Change
|
Net sales:
|
|
|
|
|
|
|
Consumer
Products
|
$
8,744
|
$
3,732
|
134
%
|
$
16,198
|
$
6,763
|
140
%
|
Ingredients
|
1,387
|
2,879
|
-52
%
|
2,881
|
5,247
|
-45
%
|
Analytical
reference standards and services
|
970
|
1,192
|
-19
%
|
2,070
|
2,360
|
-12
%
|
|
|
|
|
|
|
|
Total net sales
|
$
11,101
|
$
7,803
|
42
%
|
$
21,149
|
$
14,370
|
47
%
|
|
Three
months ending
|
Six
months ending
|
||||||
(In
thousands)
|
June 30, 2019
|
June
30, 2018
|
June 30, 2019
|
June
30, 2018
|
||||
|
Amount
|
%
of
net
sales
|
Amount
|
%
of
net
sales
|
Amount
|
%
of
net
sales
|
Amount
|
%
of
net
sales
|
Cost of sales:
|
|
|
|
|
|
|
|
|
Consumer
Products
|
$
3,519
|
40
%
|
$
1,570
|
42
%
|
$
6,590
|
41
%
|
$
2,678
|
40
%
|
Ingredients
|
641
|
46
%
|
1,536
|
53
%
|
1,454
|
50
%
|
3,033
|
58
%
|
Analytical
reference standards and services
|
687
|
71
%
|
851
|
71
%
|
1,550
|
75
%
|
1,676
|
71
%
|
|
|
|
|
|
|
|
|
|
Total cost of sales
|
$
4,847
|
44
%
|
$
3,957
|
51
%
|
$
9,594
|
45
%
|
$
7,387
|
51
%
|
|
Three
months ending
|
Six
months ending
|
||||
(In
thousands)
|
June 30, 2019
|
June
30, 2018
|
Change
|
June 30, 2019
|
June
30, 2018
|
Change
|
Gross profit:
|
|
|
|
|
|
|
Consumer
Products
|
$
5,225
|
$
2,162
|
142
%
|
$
9,608
|
$
4,085
|
135
%
|
Ingredients
|
746
|
1,343
|
-44
%
|
1,427
|
2,214
|
-36
%
|
Analytical
reference standards and services
|
283
|
341
|
-17
%
|
520
|
684
|
-24
%
|
|
|
|
|
|
|
|
Total gross profit
|
$
6,254
|
$
3,846
|
63
%
|
$
11,555
|
$
6,983
|
65
%
|
|
Three
months ending
|
Six
months ending
|
||||
(In
thousands)
|
June 30, 2019
|
June
30, 2018
|
Change
|
June 30, 2019
|
June
30, 2018
|
Change
|
Sales and marketing expenses:
|
|
|
|
|
|
|
Consumer
Products
|
$
4,072
|
$
3,357
|
21
%
|
$
7,989
|
$
6,084
|
31
%
|
Ingredients
|
79
|
256
|
-69
%
|
191
|
572
|
-67
%
|
Analytical
reference standards and services
|
157
|
160
|
-2
%
|
302
|
386
|
-22
%
|
|
|
|
|
|
|
|
Total sales and marketing
expenses
|
$
4,308
|
$
3,773
|
14
%
|
$
8,482
|
$
7,042
|
20
%
|
|
Three
months ending
|
Six
months ending
|
||||
(In
thousands)
|
June 30, 2019
|
June
30, 2018
|
Change
|
June 30, 2019
|
June
30, 2018
|
Change
|
Research and development expenses:
|
|
|
|
|
|
|
Consumer
Products
|
$
875
|
$
848
|
3
%
|
$
1,844
|
$
1,677
|
10
%
|
Ingredients
|
194
|
566
|
-66
%
|
393
|
1,176
|
-67
%
|
|
|
|
|
|
|
|
Total research and development
expenses
|
$
1,069
|
$
1,414
|
-24
%
|
$
2,237
|
$
2,853
|
-22
%
|
|
Three
months ending
|
Six
months ending
|
||||
(In
thousands)
|
June 30, 2019
|
June
30, 2018
|
Change
|
June 30, 2019
|
June
30, 2018
|
Change
|
|
|
|
|
|
|
|
General and
administrative
|
$
7,932
|
$
6,596
|
20
%
|
$
16,263
|
$
13,424
|
21
%
|
Exhibit No
.
|
|
Description
of Exhibits
|
|
|
|
2.1
|
|
Agreement
and Plan of Merger, dated as of May 21, 2008, by and among Cody
Resources, Inc., CDI Acquisition, Inc. and ChromaDex, Inc., as
amended on June 10, 2008 (incorporated by reference to, and filed
as Exhibit 2.1 to the Registrant’s Current Report on Form 8-K
(File No. 333-140056) filed with the Commission on June 24, 2008)
(1)
|
2.2
|
|
Asset
Purchase Agreement, dated as of August 21, 2017, by and among
Covance Laboratories Inc., ChromaDex, Inc., ChromaDex Analytics,
Inc., and ChromaDex Corporation (incorporated by reference from,
and filed as Exhibit 2.2 to the Company’s Quarterly Report on
Form 10-Q (File No. 001-37752) filed with the Commission on
November 9, 2017)*
|
2.3
|
|
Amendment
to Asset Purchase Agreement, dated as of September 5, 2017, by and
among Covance Laboratories Inc., ChromaDex, Inc., ChromaDex
Analytics, Inc., and ChromaDex Corporation (incorporated by
reference from, and filed as Exhibit 2.2 to the Company’s
Quarterly Report on Form 10-Q (File No. 001-37752) filed with the
Commission on November 9, 2017)
|
3.1
|
|
Amended
and Restated Certificate of Incorporation of the Registrant
(incorporated by reference to, and filed as Exhibit 3.1 to the
Registrant’s Annual Report on Form 10-K (File No. 001-37752)
filed with the Commission on March 15, 2018)
|
3.2
|
|
Bylaws
of the Registrant (incorporated by reference to, and filed as
Exhibit 3.2 to the Registrant’s Current Report on Form 8-K
(File No. 333-140056) filed with the Commission on June 24,
2008)
|
3.3
|
|
Certificate
of Amendment to the Amended and Restated Certificate of
Incorporation of the Registrant (incorporated by reference to, and
filed as Exhibit 3.1 to the Registrant’s Current Report on
Form 8-K (File No. 000-53290) filed with the Commission on April
12, 2016)
|
3.4
|
|
Amendment
to Bylaws of the Registrant (incorporated by reference to, and
filed as Exhibit 3.1 to the Registrant’s Current Report on
Form 8-K (File No. 001-37752) filed with the Commission on July 19,
2016)
|
4.1
|
|
Form of
Stock Certificate representing shares of the Registrant’s
Common Stock (incorporated by reference to, and filed as Exhibit
4.1 to the Registrant’s Annual Report on Form 10-K (File No.
000-53290) filed with the Commission on April 3, 2009)
|
4.2
|
|
Investor’s
Rights Agreement, effective as of December 31, 2005, by and between
The University of Mississippi Research Foundation and the
Registrant (incorporated by reference to, and filed as Exhibit 4.1
to the Registrant’s Current Report on Form 8-K (File No.
333-140056) filed with the Commission on June 24,
2008)
|
4.3
|
|
Tag-Along
Agreement effective as of December 31, 2005, by and among the
Registrant, Frank Louis Jaksch, Snr. & Maria Jaksch, Trustees
of the Jaksch Family Trust, Margery Germain, Lauren Germain, Emily
Germain, Lucie Germain, Frank Louis Jaksch, Jr., and the University
of Mississippi Research Foundation (incorporated by reference to,
and filed as Exhibit 4.2 to the Registrant’s Current Report
on Form 8-K (File No. 333-140056) filed with the Commission on June
24, 2008)
|
4.4
|
|
Form of
Stock Certificate representing shares of the Registrant’s
Common Stock effective as of January 1, 2016 (incorporated by
reference to, and filed as Exhibit 4.4 to the Registrant’s
Annual Report on Form 10-K (File No. 001-37752) filed with the
Commission on March 17, 2016)
|
4.5
|
|
Form of
Stock Certificate representing shares of the Registrant’s
Common Stock effective as of December 10, 2018 (incorporated by
reference to, and filed as Exhibit 4.5 to the Registrant’s
Annual Report on Form 10-K (File No. 001-37752) filed with the
Commission on March 7, 2019)
|
10.1
|
|
Note
Purchase Agreement, dated May 9, 2019, by and among ChromaDex
Corporation and Winsave Resource Limited and Pioneer Step Holdings
Limited (incorporated by reference to, and filed as Exhibit 99.1 to
the Registrant’s Current Report on Form 8-K (File No.
001-37752) filed with the Commission on May 10, 2019)
|
10.2
|
|
Registration
Rights Agreement, dated May 9, 2019, by and among ChromaDex
Corporation and Winsave Resource Limited and Pioneer Step Holdings
Limited (incorporated by reference to, and filed as Exhibit 99.2 to
the Registrant’s Current Report on Form 8-K (File No.
001-37752) filed with the Commission on May 10, 2019)
|
10.3
|
|
Omnibus
Amendment to Note Purchase Agreement and Convertible Promissory
Notes, dated June 30, 2019, by and among ChromaDex Corporation and
Winsave Resource Limited and Pioneer Step Holdings Limited
(incorporated by reference to, and filed as Exhibit 99.1 to the
Registrant’s Current Report on Form 8-K (File No. 001-37752)
filed with the Commission on July 1, 2019)
|
31.1
|
|
Certification of the Chief Executive Officer pursuant to Rule
13a-14(A) of the Securities Exchange Act of 1934, as
amended❖
|
31.2
|
|
Certification of the Chief Financial Officer pursuant to Rule
13a-14(A) of the Securities Exchange Act of 1934, as
amended❖
|
32.1
|
|
Certification pursuant to 18 U.S.C. Section 1350 (as adopted
pursuant to Section 906 of the Sarbanes−Oxley Act of
2002)❖
|
101.INS
|
|
XBRL
Instance Document
|
101.SCH
|
|
XBRL
Taxonomy Extension Schema Document
|
101.CAL
|
|
XBRL
Taxonomy Extension Calculation Linkbase Document
|
101.DEF
|
|
XBRL
Taxonomy Extension Definition Linkbase Document
|
101.LAB
|
|
XBRL
Taxonomy Extension Label Linkbase Document
|
101.PRE
|
|
XBRL
Taxonomy Extension Presentation Linkbase Document
|
Date:
August
7, 2019
|
CHROMADEX
CORPORATION
/s/ KEVIN M.
FARR
Kevin M.
Farr
Chief Financial
Officer
(principal financial and accounting
officer
and
duly authorized on behalf of
the registrant
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