Delaware
|
001-37752
|
26-2940963
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
Item 2.02.
|
Results of Operations and Financial Condition.
|
Item 9.01.
|
Financial Statements and Exhibits.
|
Exhibit No.
|
|
Description
|
|
|
|
99.1
|
|
Press
Release, dated March 16, 2017
|
|
|
|
|
CHROMADEX CORPORATION
By:
/s/ Frank L. Jaksch,
Jr.
Name: Frank L. Jaksch, Jr.
Title: Chief Executive Officer
|
Exhibit No.
|
|
Description
|
|
|
|
99.1
|
|
Press
Release, dated March 16, 2017
|
|
|
|
U.S. Toll-Free
Number:
|
(866)
327-8118
|
International
Dial-In Number:
|
(678)
509-7526
|
Conference
ID:
|
86597553
|
Webcast
link:
|
http://edge.media-server.com/m/p/y5kgkhmd/lan/en
|
ChromaDex Corporation and Subsidiaries
|
|
Consolidated Statements of Operations
|
Years Ended December 31, 2016 and January 2, 2016
|
|
2016
|
2015
|
|
|
|
Sales,
net
|
$26,811,086
|
$22,014,140
|
Cost of
sales
|
14,889,954
|
13,533,132
|
|
|
|
Gross
profit
|
11,921,132
|
8,481,008
|
|
|
|
Operating
expenses:
|
|
|
Sales and
marketing
|
2,250,589
|
2,326,788
|
Research and
development
|
2,522,768
|
891,601
|
General and
administrative
|
9,393,209
|
7,416,451
|
Operating
expenses
|
14,166,566
|
10,634,840
|
|
|
|
Operating
loss
|
(2,245,434)
|
(2,153,832)
|
|
|
|
Nonoperating income
(expense):
|
|
|
Interest
income
|
2,247
|
3,325
|
Interest
expense
|
(371,899)
|
(616,033)
|
Loss on debt
extinguishment
|
(313,099)
|
-
|
Nonoperating
expenses
|
(682,751)
|
(612,708)
|
|
|
|
Loss before income
taxes
|
(2,928,185)
|
(2,766,540)
|
Provision for
income taxes
|
-
|
(4,527)
|
|
|
|
Net
loss
|
$(2,928,185)
|
$(2,771,067)
|
|
|
|
|
|
|
Basic and Diluted
loss per common share
|
$(0.08)
|
$(0.08)
|
|
|
|
|
|
|
Basic and Diluted
weighted average common shares outstanding
|
37,294,321
|
35,877,341
|
ChromaDex Corporation and Subsidiaries
|
|
|
|
Consolidated Statements of Operations (Unaudited)
|
|
Three Months Ended December 31, 2016 and January 2,
2016
|
|
Q4 2016
|
Q4
2015
|
|
|
|
Sales,
net
|
$5,642,112
|
$4,364,480
|
Cost of
sales
|
3,342,316
|
2,763,418
|
|
|
|
Gross
profit
|
2,299,796
|
1,601,062
|
|
|
|
Operating
expenses:
|
|
|
Sales and
marketing
|
559,851
|
550,385
|
Research and
development
|
534,171
|
406,406
|
General and
administrative
|
3,329,689
|
1,885,089
|
Operating
expenses
|
4,423,711
|
2,841,880
|
|
|
|
Operating
loss
|
(2,123,915)
|
(1,240,818)
|
|
|
|
Nonoperating income
(expense):
|
|
|
Interest
income
|
250
|
986
|
Interest
expense
|
(26,588)
|
(182,285)
|
Nonoperating
expenses
|
(26,338)
|
(181,299)
|
|
|
|
Loss before income
taxes
|
(2,150,253)
|
(1,422,117)
|
Provision for
income taxes
|
3,500
|
(4,527)
|
|
|
|
Net
loss
|
$(2,146,753)
|
$(1,426,644)
|
|
|
|
|
|
|
Basic and Diluted
loss per common share
|
$(0.06)
|
$(0.04)
|
|
|
|
|
|
|
Basic and Diluted
weighted average common shares outstanding
|
37,904,534
|
36,158,895
|
Consolidated
Statements of Operations
(US GAAP)
|
|
Effects of Charges associated with Interest, Tax,
Depreciation,
Amortization and Share-based Compensation
Expense
|
Consolidated Statements of Operations, Adjusted EBITDA
Excluding Interest, Tax, Depreciation, Amortization
and
Share-based Compensation (Non-GAAP
Presentation)
|
|||||
Years
Ended December 31, 2016 and January 2,
2016
|
Years
Ended December 31, 2016 and January 2,
2016
|
Years
Ended December 31, 2016 and January 2,
2016
|
||||||
|
|
|
|
|
|
|
|
|
|
2016
|
2015
|
|
2016
|
2015
|
|
2016
|
2015
|
|
|
|
|
|
|
|
|
|
Sales
|
$26,811,086
|
$22,014,140
|
Sales
|
$-
|
$-
|
Sales
|
$26,811,086
|
$22,014,140
|
Cost
of sales
|
14,889,954
|
13,533,132
|
Cost
of sales
|
(285,515)
|
(254,000)
|
Cost
of sales
|
14,604,439
|
13,279,132
|
|
|
|
|
|
|
|
|
|
Gross profit
|
11,921,132
|
8,481,008
|
Gross profit
|
285,515
|
254,000
|
Gross profit
|
12,206,647
|
8,735,008
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
Operating
expenses:
|
|
|
Operating
expenses:
|
|
|
Sales
and marketing
|
2,250,589
|
2,326,788
|
Sales
and marketing
|
-
|
-
|
Sales
and marketing
|
2,250,589
|
2,326,788
|
Research
and development
|
2,522,768
|
891,601
|
Research
and development
|
-
|
-
|
Research
and development
|
2,522,768
|
891,601
|
General
and administrative
|
9,393,209
|
7,416,451
|
General
and administrative
|
(1,327,588)
|
(2,054,161)
|
General
and administrative
|
8,065,621
|
5,362,290
|
Operating expenses
|
14,166,566
|
10,634,840
|
Operating expenses
|
(1,327,588)
|
(2,054,161)
|
Operating expenses
|
12,838,978
|
8,580,679
|
|
|
|
|
|
|
|
|
|
Operating loss
|
(2,245,434)
|
(2,153,832)
|
Operating income
|
1,613,103
|
2,308,161
|
Operating income (loss)
|
(632,331)
|
154,329
|
|
|
|
|
|
|
|
|
|
Nonoperating
income (expense):
|
|
|
Nonoperating
income:
|
|
|
Nonoperating
income (expense):
|
|
|
Interest
income
|
2,247
|
3,325
|
Interest
income
|
(2,247)
|
(3,325)
|
Interest
income
|
-
|
-
|
Interest
expense
|
(371,899)
|
(616,033)
|
Interest
expense
|
371,899
|
616,033
|
Interest
expense
|
-
|
-
|
Loss
on debt extinguishment
|
(313,099)
|
-
|
Loss
on debt extinguishment
|
-
|
-
|
Loss
on debt extinguishment
|
(313,099)
|
-
|
Nonoperating expense
|
(682,751)
|
(612,708)
|
Nonoperating income
|
369,652
|
612,708
|
Nonoperating expense
|
(313,099)
|
-
|
|
|
|
|
|
|
|
|
|
Loss
before taxes
|
(2,928,185)
|
(2,766,540)
|
Income
before taxes
|
1,982,755
|
2,920,869
|
Income
(loss) before taxes
|
(945,430)
|
154,329
|
Provision
for taxes
|
-
|
(4,527)
|
Provision
for taxes
|
-
|
4,527
|
Provision
for taxes
|
-
|
-
|
|
|
|
|
|
|
|
|
|
Net loss
|
$(2,928,185)
|
$(2,771,067)
|
Effects of adjusted EBITDA
|
$1,982,755
|
$2,925,396
|
Adjusted EBITDA
|
$(945,430)
|
$154,329
|
|
|
|
|
|
|
|
|
|
Basic
and diluted loss per common share
|
$(0.08)
|
$(0.08)
|
Effects
of adjusted EBITDA per common share
|
$0.05
|
$0.08
|
Basic
and diluted adjusted EBITDA per common share
|
$(0.03)
|
$0.00
|
|
|
|
|
|
|
|
|
|
Weighted
average common shares outstanding
|
|
|
Weighted
average common shares outstanding
|
|
|
Weighted
average common shares outstanding
|
|
|
Basic
and diluted
|
37,294,321
|
35,877,341
|
Basic
and diluted
|
37,294,321
|
35,877,341
|
Basic
and diluted
|
37,294,321
|
35,877,341
|
Consolidated Statements of Operations, Unaudited
(US GAAP)
|
Effects of Charges associated with Interest, Tax,
Depreciation,
Amortization
and Share-based Compensation Expense
|
Consolidated Statements of Operations, Adjusted EBITDA
Excluding Interest, Tax, Depreciation, Amortization
and
Share-based Compensation (Non-GAAP Presentation)
|
||||||
Three
Months Ended December 31, 2016 and January 2,
2016
|
Three
Months Ended December 31, 2016 and January 2,
2016
|
Three
Months Ended December 31, 2016 and January 2,
2016
|
||||||
|
|
|
|
|
|
|
|
|
|
Q4 2016
|
Q4 2015
|
|
Q4 2016
|
Q4 2015
|
|
Q4 2016
|
Q4 2015
|
|
|
|
|
|
|
|
|
|
Sales
|
$5,642,112
|
$4,364,480
|
Sales
|
$-
|
$-
|
Sales
|
$5,642,112
|
$4,364,480
|
Cost
of sales
|
3,342,316
|
2,763,418
|
Cost
of sales
|
(77,841)
|
(67,152)
|
Cost
of sales
|
3,264,475
|
2,696,266
|
|
|
|
|
|
|
|
|
|
Gross profit
|
2,299,796
|
1,601,062
|
Gross profit
|
77,841
|
67,152
|
Gross profit
|
2,377,637
|
1,668,214
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
Operating
expenses:
|
|
|
Operating
expenses:
|
|
|
Sales
and marketing
|
559,851
|
550,385
|
Sales
and marketing
|
-
|
-
|
Sales
and marketing
|
559,851
|
550,385
|
Research
and development
|
534,171
|
406,406
|
Research
and development
|
-
|
-
|
Research
and development
|
534,171
|
406,406
|
General
and administrative
|
3,329,689
|
1,885,089
|
General
and administrative
|
(295,780)
|
(342,517)
|
General
and administrative
|
3,033,909
|
1,542,572
|
Operating expenses
|
4,423,711
|
2,841,880
|
Operating expenses
|
(295,780)
|
(342,517)
|
Operating expenses
|
4,127,931
|
2,499,363
|
|
|
|
|
|
|
|
|
|
Operating loss
|
(2,123,915)
|
(1,240,818)
|
Operating income
|
373,621
|
409,669
|
Operating loss
|
(1,750,294)
|
(831,149)
|
|
|
|
|
|
|
|
|
|
Nonoperating
income (expense):
|
|
|
Nonoperating
income:
|
|
|
Nonoperating
income:
|
|
|
Interest
income
|
250
|
986
|
Interest
income
|
(250)
|
(986)
|
Interest
income
|
-
|
-
|
Interest
expense
|
(26,588)
|
(182,285)
|
Interest
expense
|
26,588
|
182,285
|
Interest
expense
|
-
|
-
|
Nonoperating expense
|
(26,338)
|
(181,299)
|
Nonoperating income
|
26,338
|
181,299
|
Nonoperating expense
|
-
|
-
|
|
|
|
|
|
|
|
|
|
Loss
before taxes
|
(2,150,253)
|
(1,422,117)
|
Income
before taxes
|
399,959
|
590,968
|
Loss
before taxes
|
(1,750,294)
|
(831,149)
|
Provision
for taxes
|
3,500
|
(4,527)
|
Provision
for taxes
|
(3,500)
|
4,527
|
Provision
for taxes
|
-
|
-
|
|
|
|
|
|
|
|
|
|
Net loss
|
$(2,146,753)
|
$(1,426,644)
|
Effects of adjusted EBITDA
|
$396,459
|
$595,495
|
Adjusted EBITDA
|
$(1,750,294)
|
$(831,149)
|
|
|
|
|
|
|
|
|
|
Basic
and diluted loss per common share
|
$(0.06)
|
$(0.04)
|
Effects
of adjusted EBITDA per common share
|
$0.01
|
$0.02
|
Basic
and diluted adjusted EBITDA per common share
|
$(0.05)
|
$(0.02)
|
|
|
|
|
|
|
|
|
|
Weighted
average common shares outstanding
|
|
|
Weighted
average common shares outstanding
|
|
|
Weighted
average common shares outstanding
|
|
|
Basic
and diluted
|
37,904,534
|
36,158,895
|
Basic
and diluted
|
37,904,534
|
36,158,895
|
Basic
and diluted
|
37,904,534
|
36,158,895
|
|
|
|
|
|
|
|
|
|
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