Delaware
|
|
26-2940963
|
(State or other
jurisdiction of incorporation or
organization)
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
10005 Muirlands Blvd. Suite G, Irvine,
California
|
|
92618
|
(Address of
Principal Executive Offices)
|
|
(Zip
Code)
|
PART I –
|
FINANCIAL
INFORMATION (UNAUDITED)
|
|
|
|
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1
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1
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2
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4
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5
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6
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16
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23
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24
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PART II –
|
OTHER
INFORMATION
|
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25
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25
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38
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38
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38
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38
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39
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40
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ChromaDex
Corporation and Subsidiaries
|
|
|
|
|
|
Condensed
Consolidated Balance Sheets
|
|
|
October
1, 2016 and January 2, 2016
|
|
|
|
October
1, 2016
|
January 2,
2016
|
Assets
|
|
|
|
|
|
Current
assets
|
|
|
Cash
|
$2,264,756
|
$5,549,672
|
Trade receivables,
net of allowances of $603,000 and $367,000,
respectively
|
6,511,439
|
2,450,591
|
Inventories
|
6,312,909
|
8,173,799
|
Prepaid expenses
and other assets
|
401,902
|
373,567
|
Total
current assets
|
15,491,006
|
16,547,629
|
|
|
|
Leasehold
improvements and equipment, net
|
2,495,215
|
1,788,645
|
Deposits and
other
|
261,215
|
58,883
|
Intangible assets,
net
|
495,936
|
354,052
|
Longterm
investment
|
20,318
|
-
|
|
|
|
Total
assets
|
$18,763,690
|
$18,749,209
|
|
|
|
Liabilities
and stockholders' equity
|
|
|
|
|
|
Current
liabilities
|
|
|
Accounts
payable
|
$4,098,778
|
$6,223,958
|
Accrued
expenses
|
1,709,662
|
1,302,865
|
Current maturities
of loan payable
|
-
|
1,528,578
|
Current maturities
of capital lease obligations
|
217,308
|
219,689
|
Customer deposits
and other
|
277,615
|
272,002
|
Deferred rent,
current
|
52,734
|
39,529
|
Total
current liabilities
|
6,356,097
|
9,586,621
|
|
|
|
Loan payable, less
current maturities, net
|
-
|
3,345,335
|
Capital lease
obligations, less current maturities
|
282,820
|
444,589
|
Deferred rent, less
current
|
267,419
|
97,990
|
|
|
|
Total
liabilities
|
6,906,336
|
13,474,535
|
|
|
|
Commitments and
contingencies
|
|
|
|
|
|
Stockholders'
equity
|
|
|
Common stock, $.001
par value; authorized 50,000,000 shares;
|
|
|
issued and
outstanding October 1, 2016 37,543,198 and
|
|
|
January 2, 2016
36,003,589 shares
|
37,543
|
36,004
|
Additional paid-in
capital
|
54,896,632
|
47,534,059
|
Accumulated
deficit
|
(43,076,821)
|
(42,295,389)
|
Total
stockholders' equity
|
11,857,354
|
5,274,674
|
|
|
|
Total
liabilities and stockholders' equity
|
$18,763,690
|
$18,749,209
|
|
|
|
See Notes to
Condensed Consolidated Financial Statements.
|
ChromaDex
Corporation and Subsidiaries
|
|
|
|
|
|
Condensed
Consolidated Statements of
Operations
|
|
|
For
the Three Month Periods Ended October 1, 2016 and October 3,
2015
|
|
|
|
October
1, 2016
|
October 3,
2015
|
|
|
|
Sales,
net
|
$5,007,450
|
$6,287,309
|
Cost of
sales
|
2,964,980
|
3,805,679
|
|
|
|
Gross
profit
|
2,042,470
|
2,481,630
|
|
|
|
Operating
expenses:
|
|
|
Sales and
marketing
|
447,985
|
550,878
|
Research and
development
|
772,799
|
188,690
|
General and
administrative
|
1,768,402
|
1,564,932
|
Operating
expenses
|
2,989,186
|
2,304,500
|
|
|
|
Operating
income (loss)
|
(946,716)
|
177,130
|
|
|
|
Nonoperating income
(expense):
|
|
|
Interest
income
|
565
|
976
|
Interest
expense
|
(11,392)
|
(181,822)
|
Nonoperating
expenses
|
(10,827)
|
(180,846)
|
|
|
|
Loss before
taxes
|
(957,543)
|
(3,716)
|
Provision for
taxes
|
3,153
|
-
|
|
|
|
Net
loss
|
$(954,390)
|
$(3,716)
|
|
|
|
Basic and diluted
loss per common share
|
$(0.03)
|
$(0.00)
|
|
|
|
Basic and diluted
weighted average common shares outstanding
|
37,868,672
|
35,814,305
|
|
|
|
See Notes to
Condensed Consolidated Financial Statements.
|
ChromaDex
Corporation and Subsidiaries
|
|
|
|
|
|
Condensed
Consolidated Statements of Operations
|
|
|
For
the Nine Month Periods Ended October 1, 2016 and October 3,
2015
|
|
|
|
October
1, 2016
|
October 3,
2015
|
|
|
|
Sales,
net
|
$21,168,974
|
$17,649,660
|
Cost of
sales
|
11,547,638
|
10,769,714
|
|
|
|
Gross
profit
|
9,621,336
|
6,879,946
|
|
|
|
Operating
expenses:
|
|
|
Sales and
marketing
|
1,690,738
|
1,776,403
|
Research and
development
|
1,988,597
|
485,195
|
General and
administrative
|
6,063,520
|
5,531,362
|
Operating
expenses
|
9,742,855
|
7,792,960
|
|
|
|
Operating
loss
|
(121,519)
|
(913,014)
|
|
|
|
Nonoperating income
(expense):
|
|
|
Interest
income
|
1,997
|
2,339
|
Interest
expense
|
(345,311)
|
(433,748)
|
Loss on debt
extinguishment
|
(313,099)
|
-
|
Nonoperating
expenses
|
(656,413)
|
(431,409)
|
|
|
|
Loss before
taxes
|
(777,932)
|
(1,344,423)
|
Provision for
taxes
|
(3,500)
|
-
|
|
|
|
Net
loss
|
$(781,432)
|
$(1,344,423)
|
|
|
|
Basic and diluted
loss per common share
|
$(0.02)
|
$(0.04)
|
|
|
|
Basic and diluted
weighted average common shares outstanding
|
37,090,916
|
35,783,490
|
|
|
|
See
Notes to Condensed Consolidated Financial Statements.
|
ChromaDex
Corporation and Subsidiaries
|
|
|
|
|
|
Condensed
Consolidated Statement of Stockholders' Equity
|
|
|
|
||
For
the Nine Month Period Ended October 1, 2016
|
|
|
|
|
|
|
Common
Stock
|
Additional
Paid-In
|
Accumulated
|
Total
Stockholder's
|
|
|
Shares
|
Amount
|
Capital
|
Deficit
|
Equity
|
Balance, January 2,
2016
|
36,003,589
|
$36,004
|
$47,534,059
|
$(42,295,389)
|
$5,274,674
|
|
|
|
|
|
|
Issuance of common
stock, net of offering costs of
$20,000
|
128,205
|
128
|
479,872
|
-
|
480,000
|
|
|
|
|
|
|
Exercise of stock
options
|
47,055
|
47
|
93,825
|
-
|
93,872
|
|
|
|
|
|
|
Share-based
compensation
|
-
|
-
|
324,035
|
-
|
324,035
|
|
|
|
|
|
|
Vested restricted
stock
|
2,000
|
2
|
(2)
|
-
|
-
|
|
|
|
|
|
|
Net
income
|
-
|
-
|
-
|
255,625
|
255,625
|
|
|
|
|
|
|
Balance, April 2,
2016
|
36,180,849
|
$36,181
|
$48,431,789
|
$(42,039,764)
|
$6,428,206
|
|
|
|
|
|
|
1 for 3 reverse
stock split, issuance due to fractional shares round
up
|
1,632
|
2
|
(2)
|
-
|
-
|
|
|
|
|
|
|
Issuance of common
stock, net of offering costs of
$10,000
|
1,117,022
|
1,117
|
5,238,883
|
-
|
5,240,000
|
|
|
|
|
|
|
Exercise of stock
options
|
185,081
|
185
|
528,327
|
-
|
528,512
|
|
|
|
|
|
|
Share-based
compensation
|
-
|
-
|
333,602
|
-
|
333,602
|
|
|
|
|
|
|
Vested restricted
stock
|
5,330
|
5
|
(5)
|
-
|
-
|
|
|
|
|
|
|
Net
loss
|
-
|
-
|
-
|
(82,667)
|
(82,667)
|
|
|
|
|
|
|
Balance, July 2,
2016
|
37,489,914
|
$37,490
|
$54,532,594
|
$(42,122,431)
|
$12,447,653
|
|
|
|
|
|
|
Reconciliation of
offering costs
|
-
|
-
|
(2,526)
|
-
|
(2,526)
|
|
|
|
|
|
|
Exercise of stock
options
|
47,950
|
48
|
94,180
|
-
|
94,228
|
|
|
|
|
|
|
Share-based
compensation
|
-
|
-
|
272,389
|
-
|
272,389
|
|
|
|
|
|
|
Vested restricted
stock
|
5,334
|
5
|
(5)
|
-
|
-
|
|
|
|
|
|
|
Net
loss
|
-
|
-
|
-
|
(954,390)
|
(954,390)
|
|
|
|
|
|
|
Balance,
October 1, 2016
|
37,543,198
|
$37,543
|
$54,896,632
|
$(43,076,821)
|
$11,857,354
|
|
|
|
|
|
|
See Notes to
Condensed Consolidated Financial Statements.
|
ChromaDex
Corporation and Subsidiaries
|
|
|
|
|
|
Condensed
Consolidated Statements of Cash
Flows
|
|
|
For
the Nine Month Periods Ended October 1, 2016 and October 3,
2015
|
|
|
|
October
1, 2016
|
October 3,
2015
|
|
|
|
Cash Flows From
Operating Activities
|
|
|
Net
loss
|
$(781,432)
|
$(1,344,423)
|
Adjustments
to reconcile net loss to net cash used in operating
activities:
|
|
|
Depreciation
of leasehold improvements and equipment
|
234,408
|
209,754
|
Amortization
of intangibles
|
63,116
|
32,236
|
Share-based
compensation expense
|
930,026
|
1,656,504
|
Allowance
for doubtful trade receivables
|
235,591
|
5,429
|
Loss
from disposal of equipment
|
-
|
19,643
|
Loss
on debt extinguishment
|
313,099
|
-
|
Non-cash
financing costs
|
94,080
|
139,780
|
Changes
in operating assets and liabilities:
|
|
|
Trade
receivables
|
(4,296,439)
|
(1,883,261)
|
Inventories
|
1,840,572
|
(429,287)
|
Prepaid
expenses and other assets
|
(230,667)
|
(86,183)
|
Accounts
payable
|
(2,125,180)
|
108,961
|
Accrued
expenses
|
406,797
|
361,481
|
Customer
deposits and other
|
5,613
|
2,393
|
Deferred
rent
|
182,634
|
(50,589)
|
Net
cash used in operating activities
|
(3,127,782)
|
(1,257,562)
|
|
|
|
Cash Flows From
Investing Activities
|
|
|
Purchases
of leasehold improvements and equipment
|
(940,978)
|
(242,765)
|
Purchases
of intangible assets
|
(205,000)
|
(107,500)
|
Net
cash used in investing activities
|
(1,145,978)
|
(350,265)
|
|
|
|
Cash Flows From
Financing Activities
|
|
|
Proceeds
from issuance of common stock, net of issuance costs
|
5,717,474
|
-
|
Proceeds
from exercise of stock options
|
716,612
|
25,266
|
Proceeds
from loan payable
|
-
|
2,500,000
|
Payment
of debt issuance cost
|
-
|
(15,000)
|
Principal
payments on loan payable
|
(5,000,000)
|
-
|
Cash
paid for debt extinguishment costs
|
(281,092)
|
-
|
Principal
payments on capital leases
|
(164,150)
|
(158,547)
|
Net
cash provided by financing activities
|
988,844
|
2,351,719
|
|
|
|
Net (decrease)
increase in cash
|
(3,284,916)
|
743,892
|
|
|
|
Cash Beginning of
Period
|
5,549,672
|
3,964,750
|
|
|
|
Cash Ending of
Period
|
$2,264,756
|
$4,708,642
|
|
|
|
Supplemental
Disclosures of Cash Flow Information
|
|
|
Cash
payments for interest
|
$251,231
|
$293,968
|
|
|
|
Supplemental
Schedule of Noncash Investing Activity
|
|
|
Capital
lease obligation incurred for purchases of equipment
|
$-
|
$303,933
|
Inventory
supplied to Healthspan Research, LLC for equity interest, at
cost
|
$20,318
|
$-
|
Retirement
of fully depreciated equipment - cost
|
$28,083
|
$8,181
|
Retirement
of fully depreciated equipment - accumulated
depreciation
|
$(28,083)
|
$(8,181)
|
|
|
|
See
Notes to Condensed Consolidated Financial Statements.
|
ChromaDex
Corporation and Subsidiaries
|
|
|
|
|
|
|
|
Condensed
Consolidated Statements of Cash Flows (Unaudited)
|
|
|
|
For
the Six Month Period Ended July 2, 2016
|
|
|
|
|
|
|
|
|
Previously
Reported
|
Adjustments
|
As
Adjusted
|
|
|
|
|
Cash Flows From
Operating Activities
|
|
|
|
Net
income
|
$172,958
|
$-
|
$172,958
|
Adjustments to
reconcile net income to net cash used in operating
activities:
|
1,011,158
|
281,092
|
1,292,250
|
Changes
in operating assets and liabilities:
|
(4,171,503)
|
-
|
(4,171,503)
|
Net
cash used in operating activities
|
(2,987,387)
|
281,092
|
(2,706,295)
|
|
|
|
|
Cash Flows From
Investing Activities
|
|
|
|
Purchases
of leasehold improvements and equipment
|
(231,201)
|
-
|
(231,201)
|
Purchases
of intangible assets
|
(195,000)
|
-
|
(195,000)
|
Net
cash used in investing activities
|
(426,201)
|
-
|
(426,201)
|
|
|
|
|
Cash Flows From
Financing Activities
|
|
|
|
Proceeds
from issuance of common stock, net of issuance costs
|
5,720,000
|
-
|
5,720,000
|
Proceeds
from exercise of stock options
|
622,384
|
-
|
622,384
|
Principal
payments on loan payable
|
(5,000,000)
|
-
|
(5,000,000)
|
Cash
paid for debt extinguishment costs
|
-
|
(281,092)
|
(281,092)
|
Principal
payments on capital leases
|
(108,249)
|
-
|
(108,249)
|
Net
cash provided by financing activities
|
1,234,135
|
(281,092)
|
953,043
|
|
|
|
|
Net decrease in
cash
|
(2,179,453)
|
-
|
(2,179,453)
|
|
|
|
|
Cash Beginning of
Period
|
5,549,672
|
-
|
5,549,672
|
|
|
|
|
Cash Ending of
Period
|
$3,370,219
|
$-
|
$3,370,219
|
|
October
1, 2016
|
January 2,
2016
|
Natural product
fine chemicals
|
$1,024,213
|
$1,239,338
|
Bulk
ingredients
|
5,388,696
|
7,195,461
|
|
6,412,909
|
8,434,799
|
Less valuation
allowance
|
(100,000)
|
(261,000)
|
|
$6,312,909
|
$8,173,799
|
|
Three
Months Ended
|
Nine
Months Ended
|
||
|
Oct.
1, 2016
|
Oct.
3, 2015
|
Oct.
1, 2016
|
Oct.
3, 2015
|
|
|
|
|
|
Net
loss
|
$(954,390)
|
$(3,716)
|
$(781,432)
|
$(1,344,423)
|
|
|
|
|
|
Basic and diluted
loss per common share
|
$(0.03)
|
$(0.00)
|
$(0.02)
|
$(0.04)
|
|
|
|
|
|
Weighted average
common shares outstanding (1):
|
37,868,672
|
35,814,305
|
37,090,916
|
35,783,490
|
|
|
|
|
|
Potentially
dilutive securities, total (2):
|
|
|
|
|
Stock
options
|
5,217,508
|
5,279,868
|
5,217,508
|
5,279,868
|
Warrants
|
487,111
|
156,340
|
487,111
|
156,340
|
Convertible
debt
|
-
|
257,798
|
-
|
257,798
|
|
|
|
|
|
(1) Includes
approximately 0.4 million nonvested restricted stock for all
periods presented, which are
participating securities that feature voting and dividend
rights.
|
||||
|
|
|
|
|
(2)
Excluded from the computation of loss per share as their impact is
antidilutive.
|
|
|
Payoff Amount
|
|
|
|
Principal
|
$4,554,659
|
Accrued
interest
|
15,790
|
End
of term charge
|
187,500
|
Prepayment
fee
|
91,093
|
Other
fees
|
2,500
|
|
|
Total
|
$4,851,542
|
Net Carrying
Amount
|
|
Payoff Amount (Excluding Interest)
|
||
|
|
|
|
|
Principal
|
$4,554,659
|
|
Principal
|
$4,554,659
|
Accrued
end of term charge
|
103,909
|
|
End
of term charge
|
187,500
|
Deferred
financing cost
|
(45,606)
|
|
Prepayment
fee
|
91,093
|
Warrant
discount
|
(90,309)
|
|
Other
fees
|
2,500
|
|
|
|
|
|
Total
|
$4,522,653
|
|
Total
|
$4,835,752
|
|
(A)
|
|
|
(B)
|
Loss
on debt extinguishment
|
$(313,099)
|
|
|
|
|
(A) - (B)
|
|
|
|
|
|
Weighted
Average
|
|
||
|
|
|
Remaining
|
|
Aggregate
|
|
Number
of
|
Exercise
|
Contractual
|
Fair
|
Intrinsic
|
|
Shares
|
Price
|
Term
|
Value
|
Value
|
Outstanding at
January 2, 2016
|
4,314,264
|
$3.50
|
6.44
|
|
|
|
|
|
|
|
|
Options
Granted
|
579,148
|
4.27
|
10.00
|
$2.71
|
|
Options
Exercised
|
(238,423)
|
2.67
|
|
|
$502,000
|
Options
Forfeited
|
(326,663)
|
4.15
|
|
|
|
Outstanding at
October 1, 2016
|
4,328,326
|
$3.60
|
6.20
|
|
$684,000
|
|
|
|
|
|
|
Exercisable at
October 1, 2016
|
3,314,918
|
$3.46
|
5.31
|
|
$668,000
|
Nine Months Ended
October 1, 2016
|
|
Expected
term
|
6.0
years
|
Expected
volatility
|
73%
|
Expected
dividends
|
0.00%
|
Risk-free
rate
|
1.33%
|
|
March 11,
2016
|
Fair value of
common stock
|
$4.41
|
Contractual
term
|
3.0
years
|
Volatility
|
60%
|
Risk-free
rate
|
1.16%
|
Expected
dividends
|
0.00%
|
Three months
ended
October 1,
2016
|
|
Core
Standards and
|
Scientific
and
|
|
|
|
Ingredients
|
Contract
Services
|
Regulatory
Consulting
|
|
|
|
segment
|
segment
|
segment
|
Other
|
Total
|
|
|
|
|
|
|
Net
sales
|
$2,663,095
|
$2,052,135
|
$292,220
|
$-
|
$5,007,450
|
Cost of
sales
|
1,287,421
|
1,548,268
|
129,291
|
-
|
2,964,980
|
|
|
|
|
|
|
Gross
profit
|
1,375,674
|
503,867
|
162,929
|
-
|
2,042,470
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
Sales and
marketing
|
199,130
|
245,255
|
3,600
|
-
|
447,985
|
Research and
development
|
760,299
|
12,500
|
-
|
-
|
772,799
|
General and
administrative
|
-
|
-
|
-
|
1,768,402
|
1,768,402
|
Operating
expenses
|
959,429
|
257,755
|
3,600
|
1,768,402
|
2,989,186
|
|
|
|
|
|
|
Operating
income (loss)
|
$416,245
|
$246,112
|
$159,329
|
$(1,768,402)
|
$(946,716)
|
Three months
ended
October 3,
2015
|
|
Core
Standards and
|
Scientific
and
|
|
|
Ingredients
|
Contract
Services
|
Regulatory
Consulting
|
|
|
|
|
segment
|
segment
|
segment
|
Other
|
Total
|
|
|
|
|
|
|
Net
sales
|
$4,146,597
|
$1,875,296
|
$265,416
|
$-
|
$6,287,309
|
Cost of
sales
|
2,157,183
|
1,533,402
|
115,094
|
-
|
3,805,679
|
|
|
|
|
|
|
Gross
profit
|
1,989,414
|
341,894
|
150,322
|
-
|
2,481,630
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
Sales and
marketing
|
259,874
|
287,901
|
3,103
|
-
|
550,878
|
Research and
development
|
188,690
|
-
|
-
|
-
|
188,690
|
General and
administrative
|
-
|
-
|
-
|
1,564,932
|
1,564,932
|
Operating
expenses
|
448,564
|
287,901
|
3,103
|
1,564,932
|
2,304,500
|
|
|
|
|
|
|
Operating
income (loss)
|
$1,540,850
|
$53,993
|
$147,219
|
$(1,564,932)
|
$177,130
|
Nine months
ended
October 1,
2016
|
|
Core
Standards and
|
Scientific
and
|
|
|
|
Ingredients
|
Contract
Services
|
RegulatoryConsulting
|
|
|
|
segment
|
segment
|
segment
|
Other
|
Total
|
|
|
|
|
|
|
Net
sales
|
$13,505,470
|
$7,110,783
|
$552,721
|
$-
|
$21,168,974
|
Cost of
sales
|
6,420,972
|
4,781,539
|
345,127
|
-
|
11,547,638
|
|
|
|
|
|
|
Gross
profit
|
7,084,498
|
2,329,244
|
207,594
|
-
|
9,621,336
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
Sales and
marketing
|
930,573
|
749,165
|
11,000
|
-
|
1,690,738
|
Research and
development
|
1,961,097
|
27,500
|
-
|
-
|
1,988,597
|
General and
administrative
|
-
|
-
|
-
|
6,063,520
|
6,063,520
|
Operating
expenses
|
2,891,670
|
776,665
|
11,000
|
6,063,520
|
9,742,855
|
|
|
|
|
|
|
Operating
income (loss)
|
$4,192,828
|
$1,552,579
|
$196,594
|
$(6,063,520)
|
$(121,519)
|
Nine months
ended
October 3,
2015
|
|
Core
Standards and
|
Scientific
and
|
|
|
|
Ingredients
|
Contract
Services
|
Regulatory
Consulting
|
|
|
|
segment
|
segment
|
segment
|
Other
|
Total
|
|
|
|
|
|
|
Net
sales
|
$10,238,574
|
$6,546,816
|
$864,270
|
$-
|
$17,649,660
|
Cost of
sales
|
5,629,564
|
4,742,480
|
397,670
|
-
|
10,769,714
|
|
|
|
|
|
|
Gross
profit
|
4,609,010
|
1,804,336
|
466,600
|
-
|
6,879,946
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
Sales and
marketing
|
832,779
|
935,237
|
8,387
|
-
|
1,776,403
|
Research and
development
|
485,195
|
-
|
-
|
-
|
485,195
|
General and
administrative
|
-
|
-
|
-
|
5,531,362
|
5,531,362
|
Operating
expenses
|
1,317,974
|
935,237
|
8,387
|
5,531,362
|
7,792,960
|
|
|
|
|
|
|
Operating
income (loss)
|
$3,291,036
|
$869,099
|
$458,213
|
$(5,531,362)
|
$(913,014)
|
|
|
Core
Standards and
|
Scientific
and
|
|
|
At October 1,
2016
|
Ingredients
|
Contract
Services
|
Regulatory
Consulting
|
|
|
|
segment
|
segment
|
segment
|
Other
|
Total
|
|
|
|
|
|
|
Total
assets
|
$12,051,865
|
$3,645,554
|
$166,027
|
$2,900,244
|
$18,763,690
|
|
|
Core
Standards and
|
Scientific
and
|
|
|
At January 2,
2016
|
Ingredients
|
Contract
Services
|
Regulatory
Consulting
|
|
|
|
segment
|
segment
|
segment
|
Other
|
Total
|
|
|
|
|
|
|
Total
assets
|
$9,105,502
|
$3,306,624
|
$111,765
|
$6,225,318
|
$18,749,209
|
|
Percentage of the
Company's Total Sales
|
|||
|
Three Months
Ended
|
Nine Months
Ended
|
||
Major
Customers
|
Oct.
1, 2016
|
Oct.
3, 2015
|
Oct.
1, 2016
|
Oct.
3, 2015
|
|
|
|
|
|
Customer D
(Ingredients and Core segment)
|
12.3%
|
*
|
*
|
*
|
Customer C
(Ingredients segment)
|
*
|
*
|
24.5%
|
*
|
Customer B
(Ingredients segment)
|
*
|
19.1%
|
*
|
13.8%
|
|
|
|
|
|
* Represents less
than 10%.
|
|
|
|
|
|
Percentage
of the Company's Total Trade Receivables
|
|
Major
Customers
|
At
October 1, 2016
|
At
January 2, 2016
|
|
|
|
Customer
D (Ingredients and Core segment)
|
*
|
22.8%
|
Customer
C (Ingredients segment)
|
48.8%
|
*
|
Customer
A (Ingredients segment)
|
*
|
14.7%
|
|
|
|
*
Represents less than 10%.
|
|
|
Payments due by period
|
|||||
2016
|
2017
|
2018
|
2019
|
2020
|
Thereafter
|
|
|
|
|
|
|
$241,000
|
$439,000
|
$451,000
|
$466,000
|
$481,000
|
$1,146,000
|
|
Three months
ending
|
Nine
months ending
|
||
|
Oct.
1, 2016
|
Oct.
3, 2015
|
Oct.
1, 2016
|
Oct.
3, 2015
|
|
|
|
|
|
Net
sales
|
$5,007,000
|
$6,287,000
|
$21,169,000
|
$17,650,000
|
Net
loss
|
(954,000)
|
(4,000)
|
(781,000)
|
(1,344,000)
|
|
|
|
|
|
Basic and diluted
loss per common share
|
$(0.03)
|
$(0.00)
|
$(0.02)
|
$(0.04)
|
|
Three months
ending
|
Nine
months ending
|
||||
|
Oct.
1, 2016
|
Oct.
3, 2015
|
Change
|
Oct.
1, 2016
|
Oct.
3, 2015
|
Change
|
Net
sales:
|
|
|
|
|
|
|
Ingredients
|
$2,663,000
|
$4,147,000 |