NAGE 10-Q Quarter ended April 1, 2017

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended April 1, 2017

Commission File Number: 001-37752

CHROMADEX CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Delaware		26-2940963
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
10005 Muirlands Blvd. Suite G, Irvine, California		92618
(Address of Principal Executive Offices)		(Zip Code)

Registrant's telephone number, including area code: (949) 419-0288

Indicate by check mark whether the registrant (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 (Section 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, accelerated filer, non-accelerated filer, smaller reporting company or emerging growth company. See definition of “large accelerated filer, accelerated filer, smaller reporting company and emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ____	Accelerated filer X
Non-accelerated filer ____	Smaller reporting company ____
(Do not check if smaller reporting company)	Emerging growth company ____

If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ___ No X

As of May 10, 2017 there were 39,790,080 shares of the registrant’s common stock issued and outstanding.

CHROMADEX CORPORATION

QUARTERLY REPORT ON FORM 10-Q

TABLE O F CONTENTS

PART I –	FINANCIAL INFORMATION (UNAUDITED)
	ITEM 1. FINANCIAL STATEMENTS:
	Condensed Consolidated Balance Sheets as of April 1, 2017 and December 31, 2016	1
	Condensed Consolidated Statements of Operations for the three months ended April 1, 2017 and April 2, 2016	2
	Condensed Consolidated Statements of Stockholders Equity for the three months ended April 1, 2017	3
	Condensed Consolidated Statements of Cash Flows for the three months ended April 1, 2017 and April 2, 2016	4
	Notes to Condensed Consolidated Financial Statements	5
	ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	13
	ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	26
	ITEM 4. CONTROLS AND PROCEDURES	26
PART II –	OTHER INFORMATION
	ITEM 1. LEGAL PROCEEDINGS	27
	ITEM 1A.RISK FACTORS	28
	ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	43
	ITEM 3. DEFAULTS UPON SENIOR SECURITIES	43
	ITEM 4. MINE SAFETY DISCLOSURES	43
	ITEM 5. OTHER INFORMATION	43
	ITEM 6. EXHIBITS	44
	SIGNATURES	45

PART I – FINA N CIAL INFORMATION (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS

Condensed Consolidated Balance Sheets

	April 1, 2017	December 31, 2016
Assets
Current Assets
Cash	$ 1,185,353	$ 1,642,429
Trade receivables, net of allowances of $1,077,000 and $1,081,000, respectively	5,044,877	5,852,030
Inventories	8,938,099	7,912,630
Prepaid expenses and other assets	420,265	329,854
Total current assets	15,588,594	15,736,943
Leasehold Improvements and Equipment, net	3,252,514	3,111,374
Deposits	376,431	397,207
Intangible assets, net	1,833,781	486,226
Longterm investment	-	20,318
Total assets	$ 21,051,320	$ 19,752,068
Liabilities and Stockholders' Equity
Current Liabilities
Accounts payable	$ 7,865,099	$ 5,978,288
Accrued expenses	1,993,717	2,170,172
Current maturities of capital lease obligations	275,221	255,461
Customer deposits and other	399,010	389,010
Deferred rent, current	111,879	76,219
Due to officer	100,000	-
Total current liabilities	10,744,926	8,869,150
Capital lease obligations, less current maturities	365,393	343,589
Deferred rent, less current	568,943	564,971
Total liabilities	11,679,262	9,777,710
Commitments and contingencies
Stockholders' Equity
Common stock, $.001 par value; authorized 150,000,000 shares;
issued and outstanding April 1, 2017 37,918,048 shares and
December 31, 2016 37,544,531 shares	37,918	37,545
Additional paid-in capital	56,486,469	55,160,387
Accumulated deficit	(47,152,329 )	(45,223,574 )
Total stockholders' equity	9,372,058	9,974,358
Total liabilities and stockholders' equity	$ 21,051,320	$ 19,752,068