UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
Amendment No. 1
(MARK ONE)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2014
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to ____
Commission File No. 333-181719
CARDAX, INC.
(Exact name of registrant as specified in its charter)
Delaware | 45-4484428 | |
(State or other jurisdiction of | (I.R.S. Employer | |
incorporation or organization) | Identification No.) |
2800 Woodlawn Drive, Suite 129, Honolulu, Hawaii 96822
(Address of principal executive offices, zip code)
(808) 457-1400
(Registrant’s telephone number, including area code)
(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes [X] No [ ]
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes [X] No [ ]
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (check one):
Large accelerated filer [ ] | Accelerated filer [ ] |
Non-accelerated filer [ ] (Do not check if a smaller reporting company) | Smaller reporting company [X] |
Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule 12b-2 of the Exchange Act): Yes [ ] No [X]
As of May 12, 2014, there were 62,854,671 shares of common stock, $0.001 par value per share (“Common Stock”), of the registrant outstanding.
EXPLANATORY NOTE
The purpose of this Amendment No. 1 on Form 10-Q/A to Cardax, Inc.’s quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2014, filed with the Securities and Exchange Commission on May 15, 2014 (the “Form 10-Q”), is solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T.
No other changes have been made to the Form 10-Q. This Amendment No. 1 speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the Form 10-Q.
Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.
2 |
PART II. OTHER INFORMATION
Item 6. Exhibits.
Exhibit No. |
Description | ||
31.1* | Certification of the Chief Executive Officer pursuant to Exchange Act Rule 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | ||
31.2* | Certification of the Chief Financial Officer pursuant to Exchange Act Rule 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | ||
32.1* | Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | ||
32.2* | Certification of the Chief Financial Officer 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 |
* | Filed with the Company’s Quarterly Report on Form 10-Q for the Quarterly Period Ended March 31, 2014, as filed by the Company on May 15, 2015. | |
** | Furnished herewith. Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of any registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, and otherwise are not subject to liability under those sections. |
3 |
SIGNATURES
Pursuant to the requirements of Section 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated: May 16, 2014
CARDAX, INC. | ||
By: | /s/ David G. Watumull | |
Name: | David G. Watumull | |
Title: | Chief Executive Officer and President |
4 |
Long-Term Notes Payable, Net - Schedule of Notes Payable Outstanding (Details) (USD $)
|
Mar. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Total notes payable | $ 9,044,036 | |
Current maturities of long-term, net of discount | 9,039,444 | |
Discount attributable to current maturities | 4,592 | |
Total current maturities | 9,039,444 | |
Long-term notes payable, less current maturities | ||
2008 Unsecured Promissory Note [Member]
|
||
Total notes payable | 55,000 | |
2009 Non-Mandatorily Convertible, Unsecured Note [Member]
|
||
Total notes payable | 500,000 | |
2013 Bridge Loan [Member]
|
||
Total notes payable | 8,489,036 | |
2014 Bridge Loan [Member]
|
||
Total notes payable |
Concentration (Details Narrative) (USD $)
|
Mar. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Outstanding payables | $ 584,869 | $ 682,319 |
Vandor [Member]
|
||
Outstanding payables | $ 86,255 | $ 86,255 |
Warrants - Schedule of Fair Value Assumptions Related To Warrants Outstanding (Details)
|
3 Months Ended | 12 Months Ended |
---|---|---|
Mar. 31, 2014
|
Dec. 31, 2013
|
|
Dividend yield | 0.00% | 0.00% |
Minimum [Member]
|
||
Risk-free rate | 1.47% | 0.92% |
Expected volatility | 170.00% | 116.00% |
Expected term | 5 years 6 months | 2 years 6 months |
Maximum [Member]
|
||
Risk-free rate | 0.12% | 5.15% |
Expected volatility | 116.00% | 170.00% |
Expected term | 1 year 1 month 6 days | 7 years 6 months |
Warrant [Member]
|
||
Dividend yield | 0.00% | 0.00% |
Warrant [Member] | Minimum [Member]
|
||
Risk-free rate | 0.12% | 0.62% |
Expected volatility | 112.00% | 108.00% |
Expected term | 1 year | 2 years 6 months |
Warrant [Member] | Maximum [Member]
|
||
Risk-free rate | 0.66% | 4.59% |
Expected volatility | 159.00% | 167.00% |
Expected term | 2 years 6 months | 10 years |
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