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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Urologix Inc (CE) | USOTC:ULGX | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0001 | 0.00 | 01:00:00 |
000-28414
|
41-1697237
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|||||
(Commission File Number)
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(I.R.S. Employer Identification No.)
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14405 21st Avenue North
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55447
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|||||
Minneapolis, MN
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(Zip Code)
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|||||
(Address Of Principal Executive Offices)
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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ITEM 2.02
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RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
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ITEM 9.01
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FINANCIAL STATEMENTS AND EXHIBITS.
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||
Exhibit No.
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Description
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||
99.1
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Press Release Issued on February 5, 2015.
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UROLOGIX, INC.
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By:
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/s/ Gregory J. Fluet | ||
Gregory J. Fluet
|
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Chief Executive Officer
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Date: February 5, 2015
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●
|
Revenue $3.1 Million, 2% increase from first quarter fiscal year 2015.
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●
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Net loss reduced by 67% to $357,000 from a net loss of $1.1 million in the second quarter of fiscal year 2014 and 18% lower than first quarter net loss of $437,000.
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●
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Total cash balances, including restricted cash, increased $25,000 compared to first quarter fiscal year 2015 ending cash balances.
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Urologix Media Contact
|
Urologix Investor Relations Contact
|
Susan Overby
|
Greg Fluet
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(763) 745-1540
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(763) 475-1400
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SOverby@urologix.com
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investor-relations@urologix.com
|
Three Months Ended
December 31,
|
Six Months Ended
December 31,
|
|||||||||||||||
2014
|
2013
|
2014
|
2013
|
|||||||||||||
Sales
|
$ | 3,079 | $ | 3,806 | $ | 6,100 | $ | 7,585 | ||||||||
Cost of goods sold
|
1,615 | 2,008 | 3,174 | 3,923 | ||||||||||||
Gross profit
|
1,464 | 1,798 | 2,926 | 3,662 | ||||||||||||
Costs and expenses:
|
||||||||||||||||
Sales and marketing
|
729 | 1,681 | 1,539 | 3,527 | ||||||||||||
General and administrative
|
467 | 561 | 955 | 1,246 | ||||||||||||
Research and development
|
337 | 452 | 671 | 874 | ||||||||||||
Change in value of acquisition consideration
|
— | (85 | ) | — | (93 | ) | ||||||||||
Medical device tax
|
48 | 59 | 96 | 119 | ||||||||||||
Amortization expense
|
17 | 22 | 40 | 44 | ||||||||||||
Total costs and expenses
|
1,598 | 2,690 | 3,301 | 5,717 | ||||||||||||
Operating loss
|
(134 | ) | (892 | ) | (375 | ) | (2,055 | ) | ||||||||
Interest expense
|
(216 | ) | (178 | ) | (404 | ) | (338 | ) | ||||||||
Foreign currency exchange gain/(loss)
|
(3 | ) | 1 | (6 | ) | 2 | ||||||||||
Loss before income taxes
|
(353 | ) | (1,069 | ) | (785 | ) | (2,391 | ) | ||||||||
Income tax expense
|
4 | 16 | 9 | 28 | ||||||||||||
Net loss
|
$ | (357 | ) | $ | (1,085 | ) | $ | (794 | ) | $ | (2,419 | ) | ||||
Net loss per common share--basic
|
$ | (0.02 | ) | $ | (0.05 | ) | $ | (0.04 | ) | $ | (0.11 | ) | ||||
Net loss per common share--diluted
|
$ | (0.02 | ) | $ | (0.05 | ) | $ | (0.04 | ) | $ | (0.11 | ) | ||||
Weighted average number of common shares outstanding--basic
|
21,782 | 21,245 | 21,634 | 21,132 | ||||||||||||
Weighted average number of common shares outstanding--diluted
|
21,782 | 21,245 | 21,634 | 21,132 |
December 31,
2014
(unaudited)
|
June 30, 2014
(audited)
|
|||||||
ASSETS
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||||||||
Current assets:
|
||||||||
Cash
|
$ | 530 | $ | 718 | ||||
Restricted cash
|
40 | — | ||||||
Accounts receivable, net
|
1,488 | 1,502 | ||||||
Inventories
|
1,323 | 1,397 | ||||||
Prepaids and other current assets
|
209 | 63 | ||||||
Total current assets
|
3,590 | 3,680 | ||||||
Property and equipment:
|
||||||||
Property and equipment
|
12,120 | 12,162 | ||||||
Less accumulated depreciation
|
(11,792 | ) | (11,691 | ) | ||||
Property and equipment, net
|
328 | 471 | ||||||
Other intangible assets, net
|
1,279 | 1,370 | ||||||
Long-term inventories
|
119 | 141 | ||||||
Other assets
|
5 | 5 | ||||||
Total assets
|
$ | 5,321 | $ | 5,667 | ||||
LIABILITIES AND SHAREHOLDERS’ DEFICIT
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$ | 934 | $ | 892 | ||||
Accrued compensation
|
364 | 487 | ||||||
Short-term deferred acquisition payment
|
1,997 | 1,339 | ||||||
Current portion of long-term debt
|
747 | 747 | ||||||
Interest payable
|
534 | 322 | ||||||
Other accrued expenses
|
542 | 505 | ||||||
Total current liabilities
|
5,118 | 4,292 | ||||||
Long-term deferred acquisition payment
|
3,333 | 3,730 | ||||||
Long-term debt
|
4,586 | 4,586 | ||||||
Other accrued liabilities
|
18 | 36 | ||||||
Total liabilities
|
13,055 | 12,644 | ||||||
Shareholders’ deficit:
|
||||||||
Common stock
|
213 | 209 | ||||||
Additional paid-in capital
|
119,473 | 119,440 | ||||||
Accumulated deficit
|
(127,420 | ) | (126,626 | ) | ||||
Total shareholders’ deficit
|
(7,734 | ) | (6,977 | ) | ||||
Total liabilities and shareholders’ deficit
|
$ | 5,321 | $ | 5,667 |
Six Months Ended
December 31,
|
||||||||
2014
|
2013
|
|||||||
Operating Activities:
|
||||||||
Net loss
|
$ | (794 | ) | $ | (2,419 | ) | ||
Adjustments to reconcile net loss to net cash used for operating activities:
|
||||||||
Depreciation and amortization
|
250 | 302 | ||||||
Employee stock-based compensation expense
|
37 | 122 | ||||||
Provision for bad debts
|
18 | 29 | ||||||
Loss on disposal of assets
|
2 | 3 | ||||||
Accretion expense on deferred acquisition payments
|
261 | 209 | ||||||
Net adjustment to acquisition consideration
|
— | (93 | ) | |||||
Deferred income taxes
|
— | 18 | ||||||
Change in operating assets and liabilities:
|
||||||||
Accounts receivable
|
(4 | ) | 247 | |||||
Inventories
|
88 | 276 | ||||||
Prepaids and other assets
|
(146 | ) | (136 | ) | ||||
Accounts payable
|
42 | 426 | ||||||
Other accrued expenses
|
(104 | ) | (139 | ) | ||||
Interest payable
|
212 | 165 | ||||||
Net cash used for operating activities
|
(138 | ) | (990 | ) | ||||
Investing Activities:
|
||||||||
Purchases of property and equipment
|
(1 | ) | (27 | ) | ||||
Purchases of intellectual property
|
(14 | ) | (6 | ) | ||||
Proceeds from sale of property and equipment
|
5 | — | ||||||
Cash restricted for collateral
|
(40 | ) | — | |||||
Net cash used for investing activities
|
(50 | ) | (33 | ) | ||||
Net decrease in cash
|
(188 | ) | (1,023 | ) | ||||
Cash:
|
||||||||
Beginning of period
|
718 | 2,290 | ||||||
End of period
|
$ | 530 | $ | 1,267 | ||||
Supplemental cash-flow information
|
||||||||
Income taxes paid during the period
|
$ | 8 | $ | 12 | ||||
Net amount of inventory transferred to property and equipment
|
$ | 8 | $ | 22 |
1 Year Urologix (CE) Chart |
1 Month Urologix (CE) Chart |
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