Symbolic Logic, Inc.

2020 Q4 Form 10-Q Financial Statement

#000156276220000412 Filed on November 12, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.760M $3.490M $4.250M
YoY Change -10.39% -17.88% -50.12%
Cash & Equivalents $241.0K $3.486M $4.251M
Short-Term Investments
Other Short-Term Assets $1.830M $1.850M $1.830M
YoY Change 15.09% 1.09% 21.19%
Inventory
Prepaid Expenses
Receivables $5.681M $6.770M $5.963M
Other Receivables $270.0K $810.0K $1.580M
Total Short-Term Assets $13.91M $12.92M $16.31M
YoY Change 3.32% -20.8% -24.47%
LONG-TERM ASSETS
Property, Plant & Equipment $5.000K $531.0K $443.0K
YoY Change -98.96% 19.86% 136.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $950.0K $630.0K $1.190M
YoY Change -5.0% -47.06% 170.45%
Total Long-Term Assets $5.169M $5.060M $6.718M
YoY Change -18.62% -24.68% -77.84%
TOTAL ASSETS
Total Short-Term Assets $13.91M $12.92M $16.31M
Total Long-Term Assets $5.169M $5.060M $6.718M
Total Assets $19.08M $17.98M $23.03M
YoY Change -3.71% -21.93% -55.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $880.0K $810.0K $830.0K
YoY Change -1.12% -2.41% -80.7%
Accrued Expenses $3.720M $3.530M $3.350M
YoY Change 14.11% 5.37%
Deferred Revenue $3.713M $4.451M
YoY Change -6.5% -5.7%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $142.0K $428.0K $2.737M
YoY Change -91.0% -84.36% -23.48%
Total Short-Term Liabilities $8.454M $8.082M $11.37M
YoY Change -12.81% -28.91% -17.83%
LONG-TERM LIABILITIES
Long-Term Debt $319.0K $319.0K $516.0K
YoY Change 161.48% -38.18% -84.79%
Other Long-Term Liabilities $610.0K $680.0K $950.0K
YoY Change -30.68% -28.42%
Total Long-Term Liabilities $319.0K $319.0K $516.0K
YoY Change 161.48% -38.18% -84.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.454M $8.082M $11.37M
Total Long-Term Liabilities $319.0K $319.0K $516.0K
Total Liabilities $9.386M $9.081M $12.84M
YoY Change -12.23% -29.25% -25.5%
SHAREHOLDERS EQUITY
Retained Earnings -$78.50M -$79.09M -$77.76M
YoY Change -0.81% 1.7% 45.44%
Common Stock $12.00K $12.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.253M $1.253M $1.253M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares $178.9K $178.9K $178.9K
Shareholders Equity $9.690M $8.897M $10.20M
YoY Change
Total Liabilities & Shareholders Equity $19.08M $17.98M $23.03M
YoY Change -3.71% -21.94% -55.63%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3

Facts In Submission

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1094000
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-79087000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
71000
CY2019Q4 us-gaap Liabilities
Liabilities
10694000
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
19812000
CY2019Q4 us-gaap Liabilities Current
LiabilitiesCurrent
9696000
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1577000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
122000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2684000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-863000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-309000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-218000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
570000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1785000
us-gaap Net Income Loss
NetIncomeLoss
-8316000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-217000
us-gaap Net Income Loss
NetIncomeLoss
56000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
136000
CY2019Q4 us-gaap Noncurrent Assets
NoncurrentAssets
5352000
CY2020Q3 us-gaap Noncurrent Assets
NoncurrentAssets
4428000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-61000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Operating Income Loss
OperatingIncomeLoss
-7959000
us-gaap Operating Lease Cost
OperatingLeaseCost
400000
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
us-gaap Operating Lease Cost
OperatingLeaseCost
300000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
321000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
291000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
876000
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
680000
us-gaap Operating Lease Payments
OperatingLeasePayments
316000
us-gaap Operating Lease Payments
OperatingLeasePayments
191000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1205000
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
979000
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0649
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y9M18D
CY2020Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1511000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-170000
CY2019Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-156000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-436000
CY2020Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
186000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
309000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
218000
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2020Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1594000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
319000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
482000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2684000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1182000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3676000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3168000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-79143000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19066000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6113000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19388000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6774000
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
10100000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1609000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
41000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12163000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12185000
us-gaap Sublease Income
SubleaseIncome
0
CY2019Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
178889
CY2020Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1253000
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
63000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12163000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12275000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12258000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12195000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
8483000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
8897000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5574000
CY2019Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1815000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4516000
us-gaap Share Based Compensation
ShareBasedCompensation
263000
us-gaap Share Based Compensation
ShareBasedCompensation
159000
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
280000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.10
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y7M2D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
3000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
87000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
348000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.77
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
300000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
200000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
2.86
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.46
us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
18420000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
10500000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
10197000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
9118000
us-gaap Sublease Income
SubleaseIncome
0
CY2019Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1253000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
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: 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 US 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, 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>
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
90000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12154000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12154000

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