2016 Q1 Form 10-Q Financial Statement

#000114420416101658 Filed on May 13, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $124.7K $101.0K
YoY Change 23.42% -90.22%
Cost Of Revenue $294.8K $462.1K
YoY Change -36.21% 1022.96%
Gross Profit -$170.1K -$361.1K
YoY Change -52.89% -136.41%
Gross Profit Margin -136.41% -357.38%
Selling, General & Admin $594.4K $2.388M
YoY Change -75.11% 10.38%
% of Gross Profit
Research & Development $85.62K $142.3K
YoY Change -39.83% 8.92%
% of Gross Profit
Depreciation & Amortization $0.00 $130.0K
YoY Change -100.0% 30.0%
% of Gross Profit
Operating Expenses $818.5K $2.664M
YoY Change -69.27% 11.29%
Operating Profit -$988.7K -$3.025M
YoY Change -67.32% 115.79%
Interest Expense -$110.2K $3.107K
YoY Change -3645.7% -55.51%
% of Operating Profit
Other Income/Expense, Net -$3.522M $3.107K
YoY Change -113464.15% -144.49%
Pretax Income -$4.510M -$3.020M
YoY Change 49.34% 39.17%
Income Tax
% Of Pretax Income
Net Earnings -$4.511M -$3.022M
YoY Change 49.28% 114.5%
Net Earnings / Revenue -3617.32% -2990.76%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.379M -$958.7K
COMMON SHARES
Basic Shares Outstanding 81.72M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.130M $820.0K
YoY Change 37.8% 67.35%
Cash & Equivalents $1.080M $760.3K
Short-Term Investments $50.00K $60.00K
Other Short-Term Assets $40.00K $140.0K
YoY Change -71.43% 180.0%
Inventory
Prepaid Expenses
Receivables $19.28K $20.00K
Other Receivables $0.00 $10.00K
Total Short-Term Assets $1.190M $1.000M
YoY Change 19.0% -47.94%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change -100.0%
Goodwill $700.5K
YoY Change
Intangibles $2.738M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.444M $3.690M
YoY Change -6.68% -18.62%
TOTAL ASSETS
Total Short-Term Assets $1.190M $1.000M
Total Long-Term Assets $3.444M $3.690M
Total Assets $4.634M $4.690M
YoY Change -1.2% -27.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $270.0K $510.0K
YoY Change -47.06% -60.16%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $20.00K $20.00K
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $4.434M $560.0K
YoY Change 691.7% -60.6%
LONG-TERM LIABILITIES
Long-Term Debt $1.960M $40.00K
YoY Change 4800.0% -42.86%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.960M $40.00K
YoY Change 4800.0% -42.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.434M $560.0K
Total Long-Term Liabilities $1.960M $40.00K
Total Liabilities $6.397M $610.0K
YoY Change 948.71% -59.09%
SHAREHOLDERS EQUITY
Retained Earnings -$28.75M
YoY Change
Common Stock $817.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $623.0K
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.763M $4.090M
YoY Change
Total Liabilities & Shareholders Equity $4.634M $4.690M
YoY Change -1.2% -27.35%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$4.511M -$3.022M
YoY Change 49.28% 114.5%
Depreciation, Depletion And Amortization $0.00 $130.0K
YoY Change -100.0% 30.0%
Cash From Operating Activities -$560.0K -$2.420M
YoY Change -76.86% 89.75%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$30.00K
YoY Change -100.0% -72.73%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$40.00K -$30.00K
YoY Change 33.33% -73.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $325.0K
YoY Change -100.0% 79.03%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K 1.540M
YoY Change -100.65% 4358.99%
NET CHANGE
Cash From Operating Activities -560.0K -2.420M
Cash From Investing Activities -40.00K -30.00K
Cash From Financing Activities -10.00K 1.540M
Net Change In Cash -610.0K -910.0K
YoY Change -32.97% -32.81%
FREE CASH FLOW
Cash From Operating Activities -$560.0K -$2.420M
Capital Expenditures $0.00 -$30.00K
Free Cash Flow -$560.0K -$2.390M
YoY Change -76.57% 105.09%

Facts In Submission

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CY2016Q1 us-gaap Use Of Estimates
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="BACKGROUND: transparent">Use of Estimates</font></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the fair value of the Company&#8217;s stock, stock-based compensation, fair values relating to derivative liabilities, debt discounts and the valuation allowance related to deferred tax assets. Actual results may differ from these estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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P3Y10M13D
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
1167 USD
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
1666625 USD
CY2015Q4 aeye Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableNumber
41047920 shares
CY2016Q1 aeye Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableNumber
43141193 shares
CY2015Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2000000 USD
CY2016Q1 aeye Working Capital Amount
WorkingCapitalAmount
3238745 USD
CY2016Q1 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
554160 USD
CY2015Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
600301 USD
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
138538 USD
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
133944 USD
CY2016Q1 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-17764 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-91408 USD
CY2016Q1 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
-89506 USD
CY2015Q1 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
228983 USD
CY2016Q1 aeye Common Stock Issuance Costs
CommonStockIssuanceCosts
0 USD
CY2016Q1 aeye Working Capital
WorkingCapital
612675 USD
CY2014Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
3600 USD
CY2016Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <u>Reclassification</u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Certain prior year amounts have been reclassified to conform to the current year presentation.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q4 aeye Class Of Warrant Or Right Exercisable Number
ClassOfWarrantOrRightExercisableNumber
25000000 shares
CY2015Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
2500000 USD
CY2015Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.10

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