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Emmaus Life Sciences, Inc. – ‘10-Q’ for 12/31/15 – ‘R21’

On:  Tuesday, 2/16/16, at 5:33pm ET   ·   As of:  2/17/16   ·   For:  12/31/15   ·   Accession #:  1615774-16-4225   ·   File #:  1-35527

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/17/16  Emmaus Life Sciences, Inc.        10-Q       12/31/15   71:5.5M                                   S2 Filings LLC/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    378K 
 2: EX-10.27    Material Contract                                   HTML     83K 
 3: EX-10.28    Material Contract                                   HTML     38K 
 4: EX-10.29    Material Contract                                   HTML     50K 
 5: EX-10.30    Material Contract                                   HTML     37K 
 6: EX-10.31    Material Contract                                   HTML    111K 
 7: EX-31.1     Certification -- §302 - SOA'02                      HTML     25K 
 8: EX-31.2     Certification -- §302 - SOA'02                      HTML     25K 
 9: EX-32.1     Certification -- §906 - SOA'02                      HTML     21K 
16: R1          Document and Entity Information                     HTML     46K 
17: R2          Unaudited Condensed Consolidated Statements of      HTML     80K 
                Operations                                                       
18: R3          Condensed Consolidated Balance Sheets (Unaudited)   HTML     95K 
19: R4          Condensed Consolidated Balance Sheets (Unaudited)   HTML     39K 
                (Parenthetical)                                                  
20: R5          Unaudited Condensed Consolidated Statements of      HTML     83K 
                Cash Flows                                                       
21: R6          Unaudited Condensed Consolidated Statements of      HTML     43K 
                Stockholders' Deficit                                            
22: R7          Nature of Operations                                HTML     37K 
23: R8          Summary of Significant Accounting Policies          HTML     81K 
24: R9          Discontinued Operations                             HTML     45K 
25: R10         Convertible Debt and Equity Financings              HTML     59K 
26: R11         Derivative Liabilities                              HTML     58K 
27: R12         Stockholders' Deficit                               HTML    111K 
28: R13         Related Party Transactions                          HTML     72K 
29: R14         Loss Per Share                                      HTML     41K 
30: R15         Commitments and Contingent Liabilities              HTML     50K 
31: R16         Subsequent Events                                   HTML     26K 
32: R17         Summary of Significant Accounting Policies          HTML    135K 
                (Policies)                                                       
33: R18         Summary of Significant Accounting Policies          HTML     52K 
                (Tables)                                                         
34: R19         Discontinued Operations (Tables)                    HTML     43K 
35: R20         Convertible Debt and Equity Financings (Tables)     HTML     40K 
36: R21         Derivative Liabilities (Tables)                     HTML     58K 
37: R22         Stockholders' Deficit (Tables)                      HTML     99K 
38: R23         Related Party Transactions (Tables)                 HTML     30K 
39: R24         Loss Per Share (Tables)                             HTML     38K 
40: R25         Commitments and Contingent Liabilities (Tables)     HTML     34K 
41: R26         Nature of Operations (Details Narrative)            HTML     42K 
42: R27         Summary of Significant Accounting Policies          HTML     51K 
                (Details Narrative)                                              
43: R28         Summary of Significant Accounting Policies          HTML     30K 
                (Details)                                                        
44: R29         Summary of Significant Accounting Policies          HTML     33K 
                (Details 1)                                                      
45: R30         Discontinued Operations (Details)                   HTML     43K 
46: R31         Discontinued Operations (Details 1)                 HTML     33K 
47: R32         Convertible Debt and Equity Financings (Details     HTML    171K 
                Narrative)                                                       
48: R33         Convertible Debt and Equity Financings (Details)    HTML     77K 
49: R34         Derivative Liabilities (Details Narrative)          HTML     67K 
50: R35         Derivative Liabilities (Details)                    HTML     30K 
51: R36         Derivative Liabilities (Details 1)                  HTML     42K 
52: R37         Derivative Liabilities (Details 2)                  HTML     30K 
53: R38         Derivative Liabilities (Details 3)                  HTML     27K 
54: R39         Stockholders' Deficit (Details Narrative)           HTML    106K 
55: R40         Stockholders' Deficit (Details Narrative 1)         HTML     54K 
56: R41         Stockholders' Deficit (Details)                     HTML     28K 
57: R42         Stockholders' Deficit (Details 1)                   HTML     37K 
58: R43         Stockholders' Deficit (Details 2)                   HTML     89K 
59: R44         Stockholders' Deficit (Details 3)                   HTML     42K 
60: R45         Stockholders' Deficit (Details 4)                   HTML     69K 
61: R46         Stockholders' Deficit (Details 5)                   HTML     31K 
62: R47         Related Party Transactions (Details Narrative)      HTML    170K 
63: R48         Related Party Transactions (Details Narrative 1)    HTML    218K 
64: R49         Related Party Transactions (Details)                HTML     49K 
65: R50         Loss Per Share (Details)                            HTML     53K 
66: R51         Commitments and Contingent Liabilities (Details     HTML     47K 
                Narrative)                                                       
67: R52         Commitments and Contingent Liabilities (Details)    HTML     56K 
68: R53         Subsequent Events (Details Narrative)               HTML     42K 
70: XML         IDEA XML File -- Filing Summary                      XML    120K 
69: EXCEL       IDEA Workbook of Financial Reports                  XLSX     82K 
10: EX-101.INS  XBRL Instance -- cnso-20151231                       XML   1.64M 
12: EX-101.CAL  XBRL Calculations -- cnso-20151231_cal               XML    135K 
13: EX-101.DEF  XBRL Definitions -- cnso-20151231_def                XML    714K 
14: EX-101.LAB  XBRL Labels -- cnso-20151231_lab                     XML    918K 
15: EX-101.PRE  XBRL Presentations -- cnso-20151231_pre              XML    886K 
11: EX-101.SCH  XBRL Schema -- cnso-20151231                         XSD    144K 
71: ZIP         XBRL Zipped Folder -- 0001615774-16-004225-xbrl      Zip    137K 


‘R21’   —   Derivative Liabilities (Tables)


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.3.1.900
DERIVATIVE LIABILITIES (Tables)
3 Months Ended
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of black-scholes option-pricing model assumption inputs

The Black-Scholes option-pricing model assumption inputs for all the valuation dates are in the table below:

 

    September
30, 2015
    December
22, 2015
    December
23, 2015
    December 
28, 2015
    December 
31, 2015
 
Annual dividend yield                              
Expected life (years)     0.2       0.25       2.0       2.0       2.0  
Risk-free interest rate     0.08 %     0.21 %     1.01 %     1.05 %     1.06 %
Expected volatility     47.83 %     140.31 %     220.46 %     222.35 %     221.58 %
Schedule of changes in the derivative valuation

The net changes in the derivative valuation are summarized in the table below:

 

Fair Value of Embedded Derivative Liabilities of:   Valuation Date   Valuation     Net Adjustments  
$3M of convertible debt (balance at the beginning of the period)   September 30, 2015   $ 833,000     $ 833,000  
$3M of convertible debt prior to amendment   December 22, 2015     60,200       (772,800 )
$3M of convertible debt as amended   December 23, 2015     1,022,400       962,300  
$250,000 convertible note issued   December 23, 2015     81,900       81,900  
$750,000 convertible note issued   December 28, 2015     247,000       247,000  
$4M of convertible debt (balance at the end of the period)   December 31, 2015   $ 2,112,900       761,500  
Fair Value of Embedded Derivative Liabilities               $ 2,112,900  
Schedule of gain and (loss) on the accounting for derivative liabilities

The gain and (loss) on the accounting for derivative liabilities for the three months ended December 31, 2015 is summarized in the table below:

 

•    Gain on embedded derivative liabilities of $3M of convertible debt valued on December 22, 2015   $ 772,800  
•    The loss on embedded derivative liabilities on $4M of convertible debt valued on December 31, 2015     (761,500 )
Net gain on derivative liabilities for the three months ended December 31 2015   $ 11,300  
Schedule of gain and (loss) on the accounting for Extinguishment of Debt

The gain and (loss) on the accounting for Extinguishment of Debt for the three months ended December 31, 2015 is summarized in the table below:

 

·    The extinguishment of the conversion discount on $3M of convertible debt on December 22, 2015   $ (179,100 )
·    Changes in fair value of embedded derivative liabilities on the amended $3M of convertible debt at December 23. 2015     (962,300 )
·    Valuation of Extension Warrants issued to Noteholders on December 23, 2015 (1)     (1,196,000 )
Net loss on Extinguishment of Debt for the three months ended December 31 2015   $ (2,337,400 )

 

(1) For Details Refer to the Warrant Section of Note 6. Stockholders’ Deficit


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed as of:2/17/16NT 10-Q
Filed on:2/16/16
For Period end:12/31/15NT 10-Q
12/28/154
12/23/153,  4,  8-K
12/22/15
9/30/1510-K,  8-K,  CORRESP,  NT 10-K,  PRER14A
 List all Filings 
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Filing Submission 0001615774-16-004225   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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