Balance Sheet - Quigley Corporation

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Balance Sheet - Quigley Corporation Powered By Docstoc
					ProPhase Labs, Inc.
Condensed Consolidated Balance Sheets
(USD $)
In Thousands
Source Label                                               Prefix   Taxonomy Element                       Data Type          Period Balance Negated         As Of        As Of Definition
                                                                                                                              Type   Type              30-Jun-2011   31-Dec-2010
ASSETS
Cash and cash equivalents (Note 2)                         us-gaap CashAndCashEquivalentsAtCarryingValue   monetaryItemType   instant debit                  8,743         8,232 Includes currency on hand as well as demand deposits with banks or financial institutions. It also
                                                                                                                                                                                 includes other kinds of accounts that have the general characteristics of demand deposits in that the
                                                                                                                                                                                 Entity may deposit additional funds at any time and also effectively may withdraw funds at any time
                                                                                                                                                                                 without prior notice or penalty. Cash equivalents, excluding items classified as marketable
                                                                                                                                                                                 securities, include short-term, highly liquid investments that are both readily convertible to known
                                                                                                                                                                                 amounts of cash, and so near their maturity that they present minimal risk of changes in value
                                                                                                                                                                                 because of changes in interest rates. Generally, only investments with original maturities of three
                                                                                                                                                                                 months or less qualify under that definition. Original maturity means original maturity to the entity
                                                                                                                                                                                 holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury
                                                                                                                                                                                 note purchased three months from maturity qualify as cash equivalents. However, a Treasury note
                                                                                                                                                                                 purchased three years ago does not become a cash equivalent when its remaining maturity is three
                                                                                                                                                                                 months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of
                                                                                                                                                                                 cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held
                                                                                                                                                                                 as compensating balances against borrowing arrangements, contracts entered into with others, or
Accounts receivable, net of doubtful accounts of $10 and   us-gaap AccountsReceivableNetCurrent            monetaryItemType   instant debit                  1,162         4,821 Amount due from customers or clients, within one year of the balance sheet date (or the normal
$13 respectively (Note 2)                                                                                                                                                        operating cycle, whichever is longer), for goods or services (including trade receivables) that have
                                                                                                                                                                                 been delivered or sold in the normal course of business, reduced to the estimated net realizable fair
                                                                                                                                                                                 value by an allowance established by the entity of the amount it deems uncertain of collection.

Inventory, net (Note 2)                                    us-gaap InventoryNet                            monetaryItemType   instant debit                  1,594         1,682 Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all
                                                                                                                                                                                 valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on
                                                                                                                                                                                 hand past one year or one operating cycle, if longer).
Prepaid expenses and other current assets                  us-gaap PrepaidExpenseAndOtherAssetsCurrent     monetaryItemType   instant debit                   298            883 The total of the amounts paid in advance for capitalized costs that will be expensed with the passage
                                                                                                                                                                                 of time or the occurrence of a triggering event, and will be charged against earnings within one year
                                                                                                                                                                                 or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of
                                                                                                                                                                                 the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are
                                                                                                                                                                                 expected to be realized or consumed within one year (or the normal operating cycle, if longer).

Assets held for sale (Note 2)                              us-gaap AssetsHeldForSaleCurrent                monetaryItemType   instant debit                      -           138 Current assets (normally turning over within one year or one business cycle if longer) that are held
                                                                                                                                                                                 for sale apart from normal operations and anticipated to be sold within one year.

Total current assets                                       us-gaap AssetsCurrent                           monetaryItemType   instant debit                11,797         15,756 Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be
                                                                                                                                                                                 realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets
                                                                                                                                                                                 are probable future economic benefits obtained or controlled by an entity as a result of past
                                                                                                                                                                                 transactions or events.
Intangible asset, licensed technology (Note 3)             us-gaap FiniteLivedIntangibleAssetsNet          monetaryItemType   instant debit                  3,577         3,577 The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less
                                                                                                                                                                                 accumulated amortization and any impairment charges. A major class is composed of intangible
                                                                                                                                                                                 assets that can be grouped together because they are similar, either by their nature or by their use
                                                                                                                                                                                 in the operations of a company.
Property, plant and equipment, net of accumulated          us-gaap PropertyPlantAndEquipmentNet            monetaryItemType   instant debit                  2,372         2,362 Tangible assets that are held by an entity for use in the production or supply of goods and services,
depreciation of $3,583 and $3,389, respectively (Note 2)                                                                                                                         for rental to others, or for administrative purposes and that are expected to provide economic
                                                                                                                                                                                 benefit for more than one year; net of accumulated depreciation. Examples include land, buildings,
                                                                                                                                                                                 machinery and equipment, and other types of furniture and equipment including, but not limited to,
                                                                                                                                                                                 office equipment, furniture and fixtures, and computer equipment and software.

                                                           us-gaap Assets                                  monetaryItemType   instant debit                17,746         21,695 Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets
                                                                                                                                                                                 are probable future economic benefits obtained or controlled by an entity as a result of past
                                                                                                                                                                                 transactions or events.
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES:
Accounts payable                                           us-gaap AccountsPayableCurrent               monetaryItemType   instant credit             131        489 Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have
                                                                                                                                                                     typically been received) and payable to vendors for goods and services received that are used in an
                                                                                                                                                                     entity's business. Used to reflect the current portion of the liabilities (due within one year or within
                                                                                                                                                                     the normal operating cycle if longer).
Accrued royalties (Note 4)                                 us-gaap AccruedRoyaltiesCurrent              monetaryItemType   instant credit           3,524      3,524 Carrying value as of the balance sheet date of obligations incurred through that date and payable for
                                                                                                                                                                     royalties. Used to reflect the current portion of the liabilities (due within one year or within the
                                                                                                                                                                     normal operating cycle if longer).
Accrued advertising and other allowances                   us-gaap AccruedMarketingCostsCurrent         monetaryItemType   instant credit           1,802      3,524 Carrying value as of the balance sheet date of obligations incurred through that date and payable for
                                                                                                                                                                     the marketing, trade and selling of the entity's goods and services. Marketing costs would include
                                                                                                                                                                     expenditures for planning and executing the conception, pricing, promotion, and distribution of
                                                                                                                                                                     ideas, goods, and services; costs of public relations and corporate promotions; and obligations
                                                                                                                                                                     incurred and payable for sales discounts, rebates, price protection programs, etc. offered to
                                                                                                                                                                     customers and under government programs. Used to reflect the current portion of the liabilities
                                                                                                                                                                     (due within one year or within the normal operating cycle if longer).

Other current liabilities                                  us-gaap OtherLiabilitiesCurrent              monetaryItemType   instant credit             331        698 Aggregate carrying amount, as of the balance sheet date, of obligations incurred and payable,
                                                                                                                                                                     pertaining to costs that are statutory in nature, are incurred on contractual obligations, or
                                                                                                                                                                     accumulate over time and for which invoices have not yet been received or will not be rendered and
                                                                                                                                                                     of liabilities not separately disclosed in the balance sheet. Used to reflect the current portion of the
                                                                                                                                                                     liabilities (due within one year or within the normal operating cycle if longer).

Total current liabilities                                  us-gaap LiabilitiesCurrent                   monetaryItemType   instant credit           5,788      8,235 Total obligations incurred as part of normal operations that are expected to be paid during the
                                                                                                                                                                     following twelve months or within one business cycle, if longer.
Commitments and contigencies (Note 4)                      us-gaap CommitmentsAndContingencies          monetaryItemType   instant credit                            Represents the caption on the face of the balance sheet to indicate that the entity has entered into
                                                                                                                                                                     (1) purchase or supply arrangements that will require expending a portion of its resources to meet
                                                                                                                                                                     the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a)
                                                                                                                                                                     possible claims against a company's resources due to future performance under contract terms, and
                                                                                                                                                                     (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or
                                                                                                                                                                     more future events that are deemed likely to occur do occur or fail to occur.

STOCKHOLDERS' EQUITY:
Common Stock, $.0005 par value; authorized 50,000,000;     us-gaap CommonStockValue                     monetaryItemType   instant credit              10          10 Aggregate par or stated value of issued nonredeemable common stock (or common stock
issued: 19,862,869 and 19,353,672 shares, respectively                                                                                                                redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the
(Note 5)                                                                                                                                                              entity. Note: elements for number of nonredeemable common shares, par value and other
                                                                                                                                                                      disclosure concepts are in another section within stockholders' equity.

Additional paid-in-capital                                 us-gaap AdditionalPaidInCapitalCommonStock   monetaryItemType   instant credit          41,112     40,627 Value received from shareholders in common stock-related transactions that are in excess of par
                                                                                                                                                                     value or stated value and amounts received from other stock-related transactions. Includes only
                                                                                                                                                                     common stock transactions (excludes preferred stock transactions). May be called contributed
                                                                                                                                                                     capital, capital in excess of par, capital surplus, or paid-in capital.

Accumulated deficit                                        us-gaap RetainedEarningsAccumulatedDeficit   monetaryItemType   instant credit          (3,976)    (1,989) The cumulative amount of the reporting entity's undistributed earnings or deficit.
Treasury stock, at cost, 4,646,053 and 4,646,053 shares,   us-gaap TreasuryStockValue                   monetaryItemType   instant debit    Yes   (25,188)   (25,188) The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity
respectively                                                                                                                                                          that were issued, repurchased by the entity, and are held in its treasury.
Total stockholders' equity                                 us-gaap StockholdersEquity                   monetaryItemType   instant credit          11,958      13,460 Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners,
                                                                                                                                                                      and affiliates of the entity which are attributable to the parent. The amount of the economic entity's
                                                                                                                                                                      stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is
                                                                                                                                                                      allocable to that ownership interest in subsidiary equity which is not attributable to the parent
                                                                                                                                                                      (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called
                                                                                                                                                                      permanent equity.

                                                           us-gaap LiabilitiesAndStockholdersEquity     monetaryItemType   instant credit          17,746     21,695 Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including
                                                                                                                                                                     the portion of equity attributable to noncontrolling interests, if any.
ProPhase Labs, Inc.
Condensed Consolidated Balance Sheets
Parenthetical
(USD $)
In Thousands, except Share data
Source Label                                     Prefix   Taxonomy Element                            Data Type           Period    Balance   Negated         As Of         As Of
                                                                                                                          Type      Type                30-Jun-2011   31-Dec-2010
Allowance for doubtful accounts (in dollars)     us-gaap AllowanceForDoubtfulAccountsReceivableCurrent monetaryItemType   instant   credit                       10            13



Accumulated depreciation (in dollars)            us-gaap AccumulatedDepreciationDepletionAndAmortizat monetaryItemType    instant   credit                    3,583         3,389
                                                         ionPropertyPlantAndEquipment

Common Stock, par value (in dollars per share)   us-gaap CommonStockParOrStatedValuePerShare          perShareItemType    instant                           0.0005         0.0005

Common Stock, shares authorized                  us-gaap CommonStockSharesAuthorized                  sharesItemType      instant                        50,000,000    50,000,000

Common Stock, shares issued                      us-gaap CommonStockSharesIssued                      sharesItemType      instant                        19,862,869    19,353,672




Treasury stock, shares                           us-gaap TreasuryStockShares                          sharesItemType      instant                         4,646,053     4,646,053
Definition

A valuation allowance for trade and other receivables due to an Entity within one year (or the
normal operating cycle, whichever is longer) that are expected to be uncollectible.

The cumulative amount of depreciation, depletion and amortization (related to property, plant and
equipment, but not including land) that has been recognized in the income statement.

Face amount or stated value of common stock per share; generally not indicative of the fair market
value per share.
The maximum number of common shares permitted to be issued by an entity's charter and bylaws.

Total number of common shares of an entity that have been sold or granted to shareholders
(includes common shares that were issued, repurchased and remain in the treasury). These shares
represent capital invested by the firm's shareholders and owners, and may be all or only a portion
of the number of shares authorized. Shares issued include shares outstanding and shares held in
the treasury.
Number of common and preferred shares that were previously issued and that were repurchased
by the issuing entity and held in treasury on the financial statement date. This stock has no voting
rights and receives no dividends.
ProPhase Labs, Inc.
Condensed Consolidated Statements of
Operations
(USD $)
In Thousands, except Per Share data
Source Label                                  Prefix   Taxonomy Element                           Data Type          Period Type Balance   Negated           3ME            3ME           6ME            6ME Definition
                                                                                                                                 Type                01-Apr-2011    01-Apr-2010    01-Jan-2011    01-Jan-2010
                                                                                                                                                               to             to             to             to
                                                                                                                                                      30-Jun-2011    30-Jun-2010   30-Jun-2011    30-Jun-2010
Net sales (Note 2)                            us-gaap SalesRevenueNet                             monetaryItemType   duration    credit                     1,744          1,131          4,910          3,107 Total revenue from sale of goods and services rendered during the reporting period, in the normal
                                                                                                                                                                                                               course of business, reduced by sales returns and allowances, and sales discounts.

Cost of sales (Note 2)                        us-gaap CostOfGoodsAndServicesSold                  monetaryItemType   duration    debit                       848            660          2,020           1,466 The aggregate costs related to goods produced and sold and services rendered by an entity during
                                                                                                                                                                                                               the reporting period. This excludes costs incurred during the reporting period related to financial
                                                                                                                                                                                                               services rendered and other revenue generating activities.
Gross profit                                  us-gaap GrossProfit                                 monetaryItemType   duration    credit                      896            471          2,890           1,641 Aggregate revenue less cost of goods and services sold or operating expenses directly attributable
                                                                                                                                                                                                               to the revenue generation activity.
Operating expenses:
Sales and marketing                           us-gaap SellingAndMarketingExpense                  monetaryItemType   duration    debit                       663            780          2,218           1,514 The aggregate total amount of expenses directly related to the marketing or selling of products or
                                                                                                                                                                                                               services.
Administration                                us-gaap GeneralAndAdministrativeExpense             monetaryItemType   duration    debit                     1,040          1,819          2,285           3,231 The aggregate total of expenses of managing and administering the affairs of an entity, including
                                                                                                                                                                                                               affiliates of the reporting entity, which are not directly or indirectly associated with the
                                                                                                                                                                                                               manufacture, sale or creation of a product or product line.
Research and development                      us-gaap ResearchAndDevelopmentExpense               monetaryItemType   duration    debit                       176            150            395             238 The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of
                                                                                                                                                                                                               new knowledge with the hope that such knowledge will be useful in developing a new product or
                                                                                                                                                                                                               service, a new process or technique, or in bringing about a significant improvement to an existing
                                                                                                                                                                                                               product or process; or (2) to translate research findings or other knowledge into a plan or design
                                                                                                                                                                                                               for a new product or process or for a significant improvement to an existing product or process
                                                                                                                                                                                                               whether intended for sale or the entity's use, during the reporting period charged to research and
                                                                                                                                                                                                               development projects, including the costs of developing computer software up to the point in time
                                                                                                                                                                                                               of achieving technological feasibility, and costs allocated in accounting for a business combination
                                                                                                                                                                                                               to in-process projects deemed to have no alternative future use.

                                              us-gaap OperatingExpenses                           monetaryItemType   duration    debit                     1,879          2,749          4,898           4,983 Generally recurring costs associated with normal operations except for the portion of these
                                                                                                                                                                                                               expenses which can be clearly related to production and included in cost of sales or services.
                                                                                                                                                                                                               Includes selling, general and administrative expense.
Loss from operations                          us-gaap OperatingIncomeLoss                         monetaryItemType   duration    credit                     (983)        (2,278)        (2,008)        (3,342) The net result for the period of deducting operating expenses from operating revenues.

Interest and other income                     us-gaap InterestAndOtherIncome                      monetaryItemType   duration    credit                        9             24             21              26 The amount of interest income and other income recognized during the period. Included in this
                                                                                                                                                                                                               element is interest derived from investments in debt securities, cash and cash equivalents, and
                                                                                                                                                                                                               other investments which reflect the time value of money or transactions in which the payments are
                                                                                                                                                                                                               for the use or forbearance of money and other income from ancillary business-related activities
                                                                                                                                                                                                               (that is, excluding major activities considered part of the normal operations of the business).

Loss before income taxes                      us-gaap IncomeLossFromContinuingOperationsBeforeInc monetaryItemType   duration    credit                     (974)        (2,254)        (1,987)        (3,316) Sum of operating profit and nonoperating income or expense before Income or Loss from equity
                                                      omeTaxesMinorityInterestAndIncomeLossFromE                                                                                                               method investments, income taxes, extraordinary items, and noncontrolling interest.
                                                      quityMethodInvestments
Income tax (benefit) (Note 6)                 us-gaap IncomeTaxExpenseBenefit                     monetaryItemType   duration    debit                          -              -              -              - The sum of the current income tax expense or benefit and the deferred income tax expense or
                                                                                                                                                                                                               benefit pertaining to continuing operations.
Net loss                                      us-gaap NetIncomeLoss                               monetaryItemType   duration    credit                     (974)        (2,254)        (1,987)        (3,316) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Basic and diluted loss per share:
Loss from operations (in dollars per share)   us-gaap IncomeLossFromContinuingOperationsPerBasicA perShareItemType   duration                              (0.06)         (0.15)         (0.13)         (0.24) The amount of net income (loss) from continuing operations per each basic and diluted share of
                                                      ndDilutedShare                                                                                                                                           common stock or unit when the per share amount is the same for both basic and diluted shares.

Net loss (in dollars per share)               us-gaap EarningsPerShareBasicAndDiluted             perShareItemType   duration                              (0.06)         (0.15)         (0.13)         (0.24) The amount of net income or loss for the period per each share in instances when basic and diluted
                                                                                                                                                                                                               earnings per share are the same amount and reported as a single line item on the face of the
                                                                                                                                                                                                               financial statements. Basic earnings per share is the amount of net income or loss for the period
                                                                                                                                                                                                               per each share of common stock or unit outstanding during the reporting period. Diluted earnings
                                                                                                                                                                                                               per share includes the amount of net income or loss for the period available to each share of
                                                                                                                                                                                                               common stock or common unit outstanding during the reporting period and to each share or unit
                                                                                                                                                                                                               that would have been outstanding assuming the issuance of common shares or units for all dilutive
                                                                                                                                                                                                               potential common shares or units outstanding during the reporting period.

Weighted average common shares outstanding:

Basic and diluted (in shares)                 prph     WeightedAverageCommonSharesOutstandingBas ShareItemType       duration                             14,990         14,593         14,864         13,896 The average number of shares issued and outstanding that are used in calculating common stock
                                                       icAndDiluted                                                                                                                                           basic and diluted EPS, determined based on the timing of issuance of shares in the period.
ProPhase Labs, Inc.
Condensed Consolidated Statements of
Stockholders’ Equity

In Thousands, except Share data
Source Label                                      Prefix   Taxonomy Element                             Data Type           Period     Balance   Negated   6ME 01-Jan-     6ME 01-Jan-           6ME 01-Jan-           6ME 01-Jan-     6ME 01-Jan-
                                                                                                                            Type       Type                2011 to 30-Jun- 2011 to 30-Jun-       2011 to 30-Jun-       2011 to 30-Jun- 2011 to 30-Jun-
                                                                                                                                                           2011 -------    2011 -------          2011 -------          2011 -------    2011
                                                                                                                                                           Common Stock    Additional Paid-      Accumulated           Treasury Stock
                                                                                                                                                                           In Capital            Deficit
Balance                                           us-gaap StockholdersEquity                            monetaryItemType    instant    credit                           10              40,627               (1,989)           (25,188)        13,460)




Balance (in shares)                               us-gaap SharesOutstanding                             sharesItemType      instant                             14,707,619
Net loss                                          us-gaap NetIncomeLoss                                 monetaryItemType    duration   credit                            -                   -              (1,987)                   -         (1,987)

Share-based compensation expense                  us-gaap AdjustmentsToAdditionalPaidInCapitalSharebased monetaryItemType   duration   credit                            -                 60                      -                  -             60
                                                          CompensationRequisiteServicePeriodRecognitionV
                                                          alue

Common stock granted pursuant to employment       prph    StockGrantedDuringPeriodValueEmploymentAgre monetaryItemType      duration   credit                            -                344                      -                  -            344
agreements                                                ement
Common stock granted pursuant to employment       prph    StockGrantedDuringPeriodSharesEmploymentAgr sharesItemType        duration                               444,347
agreements (in shares)                                    eement
Common stock granted pursuant to a compensation   us-gaap StockGrantedDuringPeriodValueSharebasedComp monetaryItemType      duration   credit                            -                 81                      -                  -             81
plan                                                      ensation




Common stock granted pursuant to a compensation   us-gaap ShareBasedCompensationArrangementByShareBa sharesItemType         duration                                64,850
plan (in shares)                                          sedPaymentAwardOptionsGrantsInPeriod

Balance (in shares)                               us-gaap SharesOutstanding                             sharesItemType      instant                             15,216,816
Balance                                           us-gaap StockholdersEquity                            monetaryItemType    instant    credit                           10            41,112                (3,976)            (25,188)         11,958
Definition




Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and
affiliates of the entity which are attributable to the parent. The amount of the economic entity's
stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is
allocable to that ownership interest in subsidiary equity which is not attributable to the parent
(noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called
permanent equity.

Number of shares issued and outstanding as of the balance sheet date.
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

This element represents the amount of recognized equity-based compensation during the period,
that is, the amount recognized as expense in the income statement (or as asset if compensation is
capitalized). Alternate captions include the words "stock-based compensation".

Value of stock granted pursuant to an employment agreement.

Number of shares granted pursuant to an employment agreement.

Value of stock (or other type of equity) granted during the period as a result of any equity-based
compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited.
This element is not the recognition of equity-based compensation expense in pursuant to FAS 123R.
That element is
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionVa
lue (Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period
Recognition, Value).
Net number of share options (or share units) granted during the period.



Number of shares issued and outstanding as of the balance sheet date.
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and
affiliates of the entity which are attributable to the parent. The amount of the economic entity's
stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is
allocable to that ownership interest in subsidiary equity which is not attributable to the parent
(noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called
permanent equity.
ProPhase Labs, Inc.
Condensed Consolidated Statements of Cash
Flows
(USD $)
In Thousands
Source Label                                    Prefix   Taxonomy Element                            Data Type          Period   Balance   Negated          6ME           6ME Definition
                                                                                                                        Type     Type                01-Jan-2011   01-Jan-2010
                                                                                                                                                              to            to
                                                                                                                                                     30-Jun-2011   30-Jun-2010
Cash Flows from operating activities:
Net loss                                        us-gaap NetIncomeLoss                                monetaryItemType   duration credit                  (1,987)        (3,316) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Adjustments to reconcile net loss to net cash
provided by (used in) operating activities:

Depreciation and amortization                   us-gaap DepreciationDepletionAndAmortization         monetaryItemType   duration debit                      194            167 The aggregate expense recognized in the current period that allocates the cost of tangible assets,
                                                                                                                                                                               intangible assets, or depleting assets to periods that benefit from use of the assets.

Share-based compensation expense                us-gaap ShareBasedCompensation                       monetaryItemType   duration debit                      191             35 The aggregate amount of noncash, equity-based employee remuneration. This may include the
                                                                                                                                                                               value of stock or unit options, amortization of restricted stock or units, and adjustment for officers'
                                                                                                                                                                               compensation. As noncash, this element is an add back when calculating net cash generated by
                                                                                                                                                                               operating activities using the indirect method.
Gain on sale of asset                           us-gaap GainLossOnSaleOfPropertyPlantEquipment       monetaryItemType   duration credit    Yes              (28)             - The difference between the sale price or salvage price and the book value of a property, plant, and
                                                                                                                                                                               equipment asset that was sold or retired during the reporting period. This element refers to the
                                                                                                                                                                               gain (loss).
Sales discounts and provision for bad debts     prph     SalesDiscountsAndProvisionForBadDebts       monetaryItemType   duration credit    Yes              (54)         (105) Aggregate cash discounts given by the entity for goods sold to customers for early payments of
                                                                                                                                                                               accounts due. Also includes, amount of the current period expense charged against operations, the
                                                                                                                                                                               offset which is generally to the allowance for doubtful accounts for the purpose of reducing
                                                                                                                                                                               receivables, including notes receivable, to an amount that approximates their net realizable value
                                                                                                                                                                               (the amount expected to be collected).

Inventory valuation provision                   prph     InventoryValuationProvision                 monetaryItemType   duration credit    Yes              (20)         (823) Net charge to cost of goods sold that represents the reduction of the carrying amount of inventory
                                                                                                                                                                               or the utilization of prior obsolesce provisions, generally attributable to obsolescence or market
                                                                                                                                                                               conditions.
Changes in operating assets and liabilities:
Accounts receivable                             us-gaap IncreaseDecreaseInAccountsReceivable         monetaryItemType   duration credit    Yes             3,713         2,849 The increase (decrease) during the reporting period in amount due within one year (or one
                                                                                                                                                                               business cycle) from customers for the credit sale of goods and services.
Inventory                                       us-gaap IncreaseDecreaseInInventories                monetaryItemType   duration credit    Yes              108          1,075 The increase (decrease) during the reporting period in the aggregate value of all inventory held by
                                                                                                                                                                               the reporting entity, associated with underlying transactions that are classified as operating
                                                                                                                                                                               activities.
Accounts payable                                us-gaap IncreaseDecreaseInAccountsPayable            monetaryItemType   duration debit                     (358)         (476) The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred
                                                                                                                                                                               (and for which invoices have typically been received) and payable to vendors for goods and services
                                                                                                                                                                               received that are used in an entity's business.
Accrued advertising and other allowances        prph    IncreaseDecreaseInAccruedMarketingCosts      monetaryItemType   duration debit                   (1,722)         (255) Net change during the period in the amount of Accrued advertising and other allowances at the period end.
Other operating assets and liabilities, net     us-gaap IncreaseDecreaseInOtherOperatingCapitalNet   monetaryItemType   duration credit    Yes              512          (194) The increase (decrease) during the reporting period in other assets used in operating activities less
                                                                                                                                                                               other operating liabilities used in operating activities not separately disclosed in the statement of
                                                                                                                                                                               cash flows. May include changes in other current assets and liabilities, other noncurrent assets and
                                                                                                                                                                               liabilities, or a combination of other current and noncurrent assets and liabilities.
Net cash provided by (used in) operating   us-gaap NetCashProvidedByUsedInOperatingActivities   monetaryItemType   duration   549   (655) The net cash from (used in) all of the entity's operating activities, including those of discontinued
activities                                                                                                                                operations, of the reporting entity. Operating activities generally involve producing and delivering
                                                                                                                                          goods and providing services. Operating activity cash flows include transactions, adjustments, and
                                                                                                                                          changes in value that are not defined as investing or financing activities. While for technical reasons
                                                                                                                                          this element has no balance attribute, the default assumption is a debit balance consistent with its
                                                                                                                                          label.
Cash flows from investing activities:
Capital expenditures                          us-gaap PaymentsToAcquirePropertyPlantAndEquipment monetaryItemType     duration credit    Yes   (204)    (116) The cash outflow associated with the acquisition of long-lived, physical assets that are used in the
                                                                                                                                                              normal conduct of business to produce goods and services and not intended for resale; includes
                                                                                                                                                              cash outflows to pay for construction of self-constructed assets.

Proceeds from the sale of fixed assets        us-gaap ProceedsFromSaleOfPropertyPlantAndEquipment monetaryItemType    duration debit            166          - The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of
                                                                                                                                                               business to produce goods and services and not intended for resale.
Acquisition of product license                us-gaap PaymentsToAcquireIntangibleAssets            monetaryItemType   duration credit    Yes       -   (1,000) The cash outflow to acquire asset without physical form usually arising from contractual or other
                                                                                                                                                               legal rights, excluding goodwill.
Net cash flows used in investing activities   us-gaap NetCashProvidedByUsedInInvestingActivities   monetaryItemType   duration debit            (38)   (1,116) The net cash inflow or outflow from investing activity.

Cash flows from financing activities:
Proceeds from exercise of stock options       us-gaap ProceedsFromStockOptionsExercised            monetaryItemType   duration debit               -      133 The cash inflow associated with the amount received from holders exercising their stock options.
                                                                                                                                                              This item inherently excludes any excess tax benefit, which the entity may have realized and
                                                                                                                                                              reported separately.
Net cash provided by financing activities     us-gaap NetCashProvidedByUsedInFinancingActivities   monetaryItemType   duration debit               -      133 The net cash inflow or outflow from financing activity for the period.

Net increase (decrease) in cash and cash      us-gaap CashAndCashEquivalentsPeriodIncreaseDecrease monetaryItemType   duration                  511    (1,638) The increase (decrease) during the reporting period in cash and cash equivalents. While for
equivalents                                                                                                                                                    technical reasons this element has no balance attribute, the default assumption is a debit balance
                                                                                                                                                               consistent with its label.
Cash and cash equivalents at beginning of period us-gaap CashAndCashEquivalentsAtCarryingValue     monetaryItemType   instant    debit         8,232   12,801 Includes currency on hand as well as demand deposits with banks or financial institutions. It also
                                                                                                                                                               includes other kinds of accounts that have the general characteristics of demand deposits in that
                                                                                                                                                               the Entity may deposit additional funds at any time and also effectively may withdraw funds at any
                                                                                                                                                               time without prior notice or penalty. Cash equivalents, excluding items classified as marketable
                                                                                                                                                               securities, include short-term, highly liquid investments that are both readily convertible to known
                                                                                                                                                               amounts of cash, and so near their maturity that they present minimal risk of changes in value
                                                                                                                                                               because of changes in interest rates. Generally, only investments with original maturities of three
                                                                                                                                                               months or less qualify under that definition. Original maturity means original maturity to the entity
                                                                                                                                                               holding the investment. For example, both a three-month US Treasury bill and a three-year
                                                                                                                                                               Treasury note purchased three months from maturity qualify as cash equivalents. However, a
                                                                                                                                                               Treasury note purchased three years ago does not become a cash equivalent when its remaining
                                                                                                                                                               maturity is three months. Compensating balance arrangements that do not legally restrict the
                                                                                                                                                               withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally
                                                                                                                                                               restricted deposits held as compensating balances against borrowing arrangements, contracts
Cash and cash equivalents at end of period    us-gaap CashAndCashEquivalentsAtCarryingValue        monetaryItemType   instant    debit         8,743   11,163 entered into with others, or company statements of intention with regard to particular deposits are
                                                                                                                                                               Includes currency on hand as well as demand deposits with banks or financial institutions. It also
                                                                                                                                                               includes other kinds of accounts that have the general characteristics of demand deposits in that
                                                                                                                                                               the Entity may deposit additional funds at any time and also effectively may withdraw funds at any
                                                                                                                                                               time without prior notice or penalty. Cash equivalents, excluding items classified as marketable
                                                                                                                                                               securities, include short-term, highly liquid investments that are both readily convertible to known
                                                                                                                                                               amounts of cash, and so near their maturity that they present minimal risk of changes in value
                                                                                                                                                               because of changes in interest rates. Generally, only investments with original maturities of three
                                                                                                                                                               months or less qualify under that definition. Original maturity means original maturity to the entity
                                                                                                                                                               holding the investment. For example, both a three-month US Treasury bill and a three-year
                                                                                                                                                               Treasury note purchased three months from maturity qualify as cash equivalents. However, a
                                                                                                                                                               Treasury note purchased three years ago does not become a cash equivalent when its remaining
                                                                                                                                                               maturity is three months. Compensating balance arrangements that do not legally restrict the
                                                                                                                                                               withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally
                                                                                                                                                               restricted deposits held as compensating balances against borrowing arrangements, contracts
Supplemental disclosures of cash flow                                                                                                                          entered into with others, or company statements of intention with regard to particular deposits are
information:
Income taxes paid                             us-gaap IncomeTaxesPaid                              monetaryItemType   duration credit              -         - The amount of cash paid during the current period to foreign, federal, state, and local authorities as
                                                                                                                                                               taxes on income.
Common stock issued to Phosphagenics Limited prph   CommonStockIssuedForLicenseAgreement   monetaryItemType   duration debit   -   2,577 Consideration paid in the form of common shares for license agreement.
pursuant to a product license agreement
ProPhase Labs, Inc.
Notes to Condensed Consolidated Financial
Statements
Source label                                  Prefix    Taxonomy Element                                                  Data Type            Period
                                                                                                                                               Type
Organization and Business                     us-gaap   OrganizationConsolidationAndPresentationOfFinancialStatementsDiscl textBlockItemType   duration
                                                        osureTextBlock




Summary of Significant Accounting Policies    us-gaap   SignificantAccountingPoliciesTextBlock                            textBlockItemType    duration
Investment in Phusion Laboratories, LLC.      us-gaap   InvestmentsInAndAdvancesToAffiliatesTextBlock                     textBlockItemType    duration
Commitments and Contingencies                 us-gaap   CommitmentsAndContingenciesDisclosureTextBlock                    textBlockItemType    duration

Transactions Affecting Stockholders’ Equity   us-gaap   StockholdersEquityNoteDisclosureTextBlock                         textBlockItemType    duration




Income Taxes                                  us-gaap   IncomeTaxDisclosureTextBlock                                      textBlockItemType    duration




Earnings (Loss) Per Share                     us-gaap   EarningsPerShareTextBlock                                         textBlockItemType    duration
Definition

Description containing the entire organization, consolidation and basis of presentation of financial statements disclosure. May
be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the
significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose
information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an
enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in,
the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects
the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in
more than one note to the financial statements.

This element may be used to describe all significant accounting policies of the reporting entity.
Container for the investments in and advances to affiliates table.
Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the
entire disclosure including data and tables.
Disclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances
of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for
each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of
changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon
exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights
and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting
treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the
aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in
arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions;
(9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in
previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred
Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an
enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect
of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and
deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block
of text to encapsulate the entire disclosure including data and tables.

This element may be used to capture the complete disclosure pertaining to an entity's earnings per share.
ProPhase Labs, Inc.
Document and Entity Information
Source Label                            6ME                         As Of
                                         01-Jan-2011                 12-Aug-2011
                                         to
                                         30-Jun-2011
Entity Registrant Name                  ProPhase Labs, Inc.
Entity Central Index Key                000868278
Current Fiscal Year End Date            --12-31
Entity Filer Category                   Smaller Reporting Company
Trading Symbol                          prph
Entity CommonStock Shares Outstanding                               15,281,146
Document Type                           10-Q
Amendment Flag                          false
Document Period End Date                2011-06-30
Document Fiscal Period Focus            Q2
Document Fiscal Year Focus              2011

				
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posted:11/27/2011
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