Kiora Pharmaceuticals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The computation of Net Loss per Common Share – Basic and Diluted, is based on the weighted-average number of shares outstanding of Common Stock. In computing diluted loss per share, no effect has been given to the shares of common stock issuable upon the conversion or exercise of the following dilutive securities, as the Company’s net loss would make the effect anti-dilutive. 

	June 30, 2018 (unaudited)		June 30, 2017 (unaudited)
Common Stock Warrants		42,255,336		9,519,403
Employee Stock Options		2,106,035		1,842,255
Preferred Stock		12,787,500		400,000
Total Shares of Common Stock Issuable		57,148,871		11,761,658

Schedule Of Cummulative effect Of Revenue Recognition To Condensed Balance Sheet

The cumulative effect of initially applying the new revenue recognition guidance to the Company’s Condensed Consolidated Balance Sheet on January 1, 2018 was as follows:

	Balance as of ‎ December 31, ‎ 2017			Cumulative Impact ‎ from Adopting New ‎ Revenue Guidance			Balance as of ‎ January 1, 2018
Assets:
Unbilled Revenue	$	-		$	116,280		$	116,280
Liabilities:
Deferred Revenue		12,313,600			(9,361,600	)		2,952,000
Stockholders' Equity:
Accumulated Deficit	$	(91,816,655	)	$	9,477,880		$	(82,338,775	)

Schedule Of Impact From Adopting The New Revenue Recognition Guidance On The Condensed Financial Statements

The impact from adopting the new revenue recognition guidance on the Company’s Condensed Consolidated Balance Sheet for the six months ending June 30, 2018 was as follows:

	As ‎ Reported			Previous ‎ Accounting ‎ Guidance			Impact from ‎ Adopting New ‎ Revenue ‎ Guidance
Liabilities:
Deferred Revenue	$	2,723,000		$	13,341,100		$	(10,618,100	)
Stockholders' Equity:
Accumulated Deficit	$	(87,498,357	)	$	(98,116,457	)	$	10,618,100

The impact from adopting the new revenue recognition guidance on the Company’s Condensed Consolidated Statement of Operations and Comprehensive Loss for the three and six months ended June 30, 2018 was as follows:

	Three Months Ended								Six Months Ended
	As ‎ Reported			Previous ‎ Accounting ‎ Guidance			Impact from ‎ Adopting ‎ New Revenue ‎ Guidance		As ‎ Reported			Previous ‎ Accounting ‎ Guidance			Impact from ‎ Adopting New ‎ Revenue ‎ Guidance
Collaboration Revenue	$	242,012		$	-		$	242,012	$	1,338,020		$	-		$	1,338,020
Operating Loss Before Other Expenses		(2,798,318	)		(3,040,330	)		242,012		(5,177,367	)		(6,515,387	)		1,338,020
Net Loss		(2,780,255	)		(3,022,267	)		242,012		(5,159,582	)		(6,497,602	)		1,338,020
Comprehensive Loss	$	(2,778,249	)	$	(3,020,261	)	$	242,012	$	(5,156,342	)	$	(6,494,362	)	$	1,338,020

Contract with Customer, Asset and Liability

The below table represents the changes in the Company’s contract assets and contract liabilities:

	June 30, 2018		January 1, 2018
Contract Asset:
Unbilled Revenue	$	-	$	116,280
Contract Liabilities:
Deferred Revenue	$	2,723,000	$	2,952,000

	Three Months ‎ Ended		Six Months ‎ Ended
	June 30, 2018		June 30, 2018
Revenue recognized in the period from:
Amounts included in contract liability at the beginning of the period	$	137,000	$	229,000