Symbolic Logic, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156276221000223 Filed on May 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.290M $2.610M
YoY Change 64.37% -53.06%
Cash & Equivalents $4.292M $2.606M
Short-Term Investments
Other Short-Term Assets $1.610M $1.840M
YoY Change -12.5% -4.17%
Inventory
Prepaid Expenses
Receivables $4.741M $5.104M
Other Receivables $740.0K $1.440M
Total Short-Term Assets $14.97M $12.81M
YoY Change 16.91% -33.86%
LONG-TERM ASSETS
Property, Plant & Equipment $512.0K $429.0K
YoY Change 19.35% 14.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $960.0K $630.0K
YoY Change 52.38% -44.74%
Total Long-Term Assets $5.219M $5.451M
YoY Change -4.26% -61.71%
TOTAL ASSETS
Total Short-Term Assets $14.97M $12.81M
Total Long-Term Assets $5.219M $5.451M
Total Assets $20.19M $18.26M
YoY Change 10.59% -45.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $810.0K $690.0K
YoY Change 17.39% -60.57%
Accrued Expenses $4.010M $3.180M
YoY Change 26.1% -7.02%
Deferred Revenue $5.043M $3.701M
YoY Change 36.26% -15.23%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.304M
YoY Change -100.0% -74.67%
Total Short-Term Liabilities $9.864M $8.874M
YoY Change 11.16% -39.59%
LONG-TERM LIABILITIES
Long-Term Debt $319.0K $0.00
YoY Change
Other Long-Term Liabilities $870.0K $760.0K
YoY Change 14.47% -33.91%
Total Long-Term Liabilities $319.0K $760.0K
YoY Change -58.03% -33.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.864M $8.874M
Total Long-Term Liabilities $319.0K $760.0K
Total Liabilities $11.05M $9.638M
YoY Change 14.68% -39.16%
SHAREHOLDERS EQUITY
Retained Earnings -$79.42M -$79.18M
YoY Change 0.3% 12.2%
Common Stock $12.00K $12.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.253M $1.253M
YoY Change 0.0% 0.0%
Treasury Stock Shares $178.9K
Shareholders Equity $9.140M $8.621M
YoY Change
Total Liabilities & Shareholders Equity $20.19M $18.26M
YoY Change 10.59% -45.66%

Cashflow Statement

Concept 2021 Q1 2020 Q1

Facts In Submission

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OtherNonoperatingIncomeExpense
-291000
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
22000
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
41000
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2021Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1828000
CY2021Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1608000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
532000
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
512000
CY2020Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
394000
CY2021Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
142000
CY2020Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1063000
CY2021Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1304000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-78500000
CY2021Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-79416000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6285000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6460000
CY2021Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
16900000
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
370000
CY2020Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1561000
CY2021Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1341000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
58000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
197000
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
301000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.04
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y2M5D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
5000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
343000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.82
CY2021Q1 us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTax
100000
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M13D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
200000
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
200000
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.25
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
9118000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
8621000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
9690000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
9140000
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
0
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
0
CY2020Q4 us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTax
100000
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
178889
CY2021Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
178889
CY2020Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1253000
CY2021Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1253000
CY2021Q1 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 accounting principles generally accepted in the United States of America (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, income tax valuation allowance, fair values of long-lived assets, valuation of intangible assets and goodwill, useful lives for property, equipment and intangible assets, business combinations, 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>
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12164000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12206000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12164000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12206000

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