Symbolic Logic, Inc.

2019 Q1 Form 10-Q Financial Statement

#000110465919029793 Filed on May 15, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.560M $8.670M
YoY Change -35.87% 15.45%
Cash & Equivalents $5.562M $8.674M
Short-Term Investments
Other Short-Term Assets $1.920M $1.690M
YoY Change 13.61% -13.33%
Inventory
Prepaid Expenses
Receivables $7.676M $16.56M
Other Receivables $1.180M $0.00
Total Short-Term Assets $19.36M $26.92M
YoY Change -28.07% 42.28%
LONG-TERM ASSETS
Property, Plant & Equipment $375.0K $240.0K
YoY Change 56.25% -52.0%
Goodwill $6.828M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.140M $400.0K
YoY Change 185.0% 471.43%
Total Long-Term Assets $14.24M $31.96M
YoY Change -55.45% 26.37%
TOTAL ASSETS
Total Short-Term Assets $19.36M $26.92M
Total Long-Term Assets $14.24M $31.96M
Total Assets $33.60M $58.88M
YoY Change -42.93% 33.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.750M $6.060M
YoY Change -71.12% 40.6%
Accrued Expenses $3.420M
YoY Change
Deferred Revenue $4.366M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.149M $3.180M
YoY Change 61.92% 60.61%
Total Short-Term Liabilities $14.69M $17.85M
YoY Change -17.71% 79.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $5.050M
YoY Change -100.0% 44.29%
Other Long-Term Liabilities $1.150M
YoY Change
Total Long-Term Liabilities $1.150M $5.050M
YoY Change -77.23% 44.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.69M $17.85M
Total Long-Term Liabilities $1.150M $5.050M
Total Liabilities $15.84M $22.90M
YoY Change -30.83% 70.13%
SHAREHOLDERS EQUITY
Retained Earnings -$70.57M
YoY Change
Common Stock $12.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.253M
YoY Change
Treasury Stock Shares $178.9K
Shareholders Equity $17.76M $35.99M
YoY Change
Total Liabilities & Shareholders Equity $33.60M $58.88M
YoY Change -42.93% 33.18%

Cashflow Statement

Concept 2019 Q1 2018 Q1

Facts In Submission

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CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0675
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y10M24D
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
722000
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
327000
CY2018Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
31000
CY2019Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
12000
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12000
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
95000
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-69448000
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-70565000
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8158000
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6697000
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5100000
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1609000
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1351000
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1920000
CY2019Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-size:10pt;">Reclassification &#x2014; </font><font style="display: inline;font-size:10pt;">Certain reclassifications have been made to conform the 2018 amounts to the 2019 classifications for comparative purposes.</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
303000
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
375000
CY2018Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
500000
CY2019Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
781000
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
853000
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1289000
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M2D
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.56
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1637000
CY2019Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2066000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
130000
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
373000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.55
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y4M13D
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
23000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
591000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
568000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.75
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.80
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M21D
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
34413000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
35985000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
18420000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
17760000
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2018Q1 us-gaap Sublease Income
SubleaseIncome
0
CY2019Q1 us-gaap Sublease Income
SubleaseIncome
0
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
178889
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
178889
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1253000
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1253000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-indent:35pt;font-family:Times New Roman;font-size: 12pt"> &nbsp; </p></div><div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-indent:35pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-size:10pt;">Use of Estimates</font><font style="display: inline;font-size:10pt;"> &#x2014; The preparation of condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the condensed consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting period. We made estimates with respect to revenue recognition for progress toward completion and direct profit or loss on contracts, allowance for doubtful accounts, deferred taxes and income tax valuation allowance, fair values of long-lived assets, valuation of intangible assets and goodwill, useful lives for property, equipment and intangible assets, capitalization of internal software development costs and fair value of stock-based compensation amounts. Actual results could differ from these estimates.</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
88000
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12165000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12138000
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12077000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12138000

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