2017 Q3 Form 10-Q Financial Statement

#000114420417058769 Filed on November 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q4 2016 Q3
Revenue $744.4K $400.0K $280.0K
YoY Change 165.85% 1900.0% 157.63%
Cost Of Revenue $262.7K $320.0K $311.5K
YoY Change -15.66% 540.0% -3.18%
Gross Profit $481.6K $80.00K -$28.84K
YoY Change -1769.87% -500.0% -86.46%
Gross Profit Margin 64.7% 20.0% -10.3%
Selling, General & Admin $1.186M $880.0K $794.9K
YoY Change 49.23% 44.26% 450.82%
% of Gross Profit 246.3% 1100.0%
Research & Development $44.70K $90.00K $85.19K
YoY Change -47.53% 12.5% -8.25%
% of Gross Profit 9.28% 112.5%
Depreciation & Amortization $1.718K $140.0K $0.00
YoY Change 7.69% -100.0%
% of Gross Profit 0.36% 175.0%
Operating Expenses $1.375M $1.110M $1.030M
YoY Change 33.4% 33.73% 181.89%
Operating Profit -$893.0K -$1.030M -$1.059M
YoY Change -15.7% 21.18% 83.07%
Interest Expense -$9.639K $230.0K $266.00
YoY Change -3723.68% 130.0% 228.4%
% of Operating Profit
Other Income/Expense, Net $1.076M $0.00 $352.2K
YoY Change 205.61% 434740.74%
Pretax Income $180.0K -$850.0K -$710.0K
YoY Change -125.35% 13.33% 22.41%
Income Tax
% Of Pretax Income
Net Earnings $183.4K -$850.0K -$707.1K
YoY Change -125.94% 13.33% 22.21%
Net Earnings / Revenue 24.64% -212.5% -252.52%
Basic Earnings Per Share $0.04 -$0.01
Diluted Earnings Per Share $0.03 -$196.8K -$0.01
COMMON SHARES
Basic Shares Outstanding 4.503M shares 107.5M shares 107.4M shares
Diluted Shares Outstanding 5.028M shares 107.4M shares

Balance Sheet

Concept 2017 Q3 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.560M $1.410M $1.550M
YoY Change 0.65% -18.97% 1191.67%
Cash & Equivalents $1.562M $1.409M $1.495M
Short-Term Investments $0.00 $0.00 $50.00K
Other Short-Term Assets $30.00K $20.00K $60.00K
YoY Change -50.0% -50.0% -25.0%
Inventory
Prepaid Expenses
Receivables $72.50K $44.65K $20.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.670M $1.470M $1.630M
YoY Change 2.45% -18.56% 446.96%
LONG-TERM ASSETS
Property, Plant & Equipment $19.93K $0.00
YoY Change
Goodwill $700.5K
YoY Change 0.0%
Intangibles $2.313M
YoY Change -18.57%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.830M $3.019M $3.150M
YoY Change -10.16% -14.76% -9.75%
TOTAL ASSETS
Total Short-Term Assets $1.670M $1.470M $1.630M
Total Long-Term Assets $2.830M $3.019M $3.150M
Total Assets $4.500M $4.489M $4.780M
YoY Change -5.86% -16.04% 26.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $60.00K $250.0K $270.0K
YoY Change -77.78% 19.05% 3.85%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $10.00K $20.00K $20.00K
YoY Change -50.0% 0.0% 0.0%
Total Short-Term Liabilities $4.420M $4.167M $4.370M
YoY Change 1.14% 367.54% 1129.1%
LONG-TERM LIABILITIES
Long-Term Debt $20.00K $0.00 $10.00K
YoY Change 100.0% -100.0% -66.67%
Other Long-Term Liabilities $10.00K $10.00K
YoY Change
Total Long-Term Liabilities $30.00K $10.00K $10.00K
YoY Change 200.0% -99.48% -66.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.420M $4.167M $4.370M
Total Long-Term Liabilities $30.00K $10.00K $10.00K
Total Liabilities $4.441M $4.181M $4.370M
YoY Change 1.61% 48.55% 1034.05%
SHAREHOLDERS EQUITY
Retained Earnings -$36.66M -$33.82M
YoY Change 39.52%
Common Stock $1.126K $1.115K
YoY Change 36.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $62.73K $307.2K $410.0K
YoY Change
Total Liabilities & Shareholders Equity $4.503M $4.489M $4.780M
YoY Change -5.79% -16.04% 26.18%

Cashflow Statement

Concept 2017 Q3 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $183.4K -$850.0K -$707.1K
YoY Change -125.94% 13.33% 22.21%
Depreciation, Depletion And Amortization $1.718K $140.0K $0.00
YoY Change 7.69% -100.0%
Cash From Operating Activities -$100.0K -$630.0K -$640.0K
YoY Change -84.37% -5.97% -37.25%
INVESTING ACTIVITIES
Capital Expenditures -$190.0K $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$190.0K $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.440M 550.0K -10.00K
YoY Change -14500.0% -78.0% 0.0%
NET CHANGE
Cash From Operating Activities -100.0K -630.0K -640.0K
Cash From Investing Activities -190.0K 0.000 0.000
Cash From Financing Activities 1.440M 550.0K -10.00K
Net Change In Cash 1.150M -80.00K -650.0K
YoY Change -276.92% -104.88% -40.37%
FREE CASH FLOW
Cash From Operating Activities -$100.0K -$630.0K -$640.0K
Capital Expenditures -$190.0K $0.00 $0.00
Free Cash Flow $90.00K -$630.0K -$640.0K
YoY Change -114.06% 31.25% -33.33%

Facts In Submission

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CY2017Q1 aeye Stock Issued During Period Shares Warrants Exercised
StockIssuedDuringPeriodSharesWarrantsExercised
40000 shares
CY2017Q1 us-gaap Proceeds From Issuance Of Private Placement
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50000 USD
CY2017Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
41666 shares
CY2017Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
6625 USD
CY2017Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
41666 shares
CY2017Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
41666 shares
CY2017Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
5917 USD
CY2017Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
41674 shares
CY2017Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
7126 USD
CY2017Q2 aeye Stock Issued During Period Shares Common Stock In Exchange For Warrants
StockIssuedDuringPeriodSharesCommonStockInExchangeForWarrants
528302 shares
CY2017Q2 aeye Warrant Exercise Shares Issued
WarrantExerciseSharesIssued
1000000 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26277057 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
25731207 shares
CY2017Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
14583 USD
CY2016 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
87500 USD
CY2016Q3 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
100000 USD
CY2016Q3 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
1525000 USD
CY2016Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
34249 USD
CY2017Q3 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
34249 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.00001
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
160000 shares
CY2017Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
160000 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
160000 shares
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
160000 shares
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2017Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2017Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112564118 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
111512001 shares
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112564118 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
107382344 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112275696 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
95840596 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125692275 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
107382344 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112275696 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95840596 shares
aeye Common Stock Subscription
CommonStockSubscription
1450000 USD
aeye Adjustments To Additional Paid In Capital Restricted Stock Units Warrant And Options Issued For Services
AdjustmentsToAdditionalPaidInCapitalRestrictedStockUnitsWarrantAndOptionsIssuedForServices
876105 USD
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
1450000 USD
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
0 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"></font> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><u> Use of Estimates</u></font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"> </font>&#160;</div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">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.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
48382 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
25478 USD
us-gaap Depreciation
Depreciation
0 USD
CY2016Q4 aeye Due To Related Party For Unreimbursed Travel Related Expenses
DueToRelatedPartyForUnreimbursedTravelRelatedExpenses
8000 USD
CY2017Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
8425 USD
CY2017Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.166
CY2017Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
213281 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
0 USD
CY2017Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
281584 USD
aeye Common Stock Issuance Price Per Share
CommonStockIssuancePricePerShare
0.25
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P5Y
CY2016 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
280777 USD
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
6062 USD
CY2017Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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1000000 shares
CY2017Q2 us-gaap Share Price
SharePrice
0.20
CY2017Q2 us-gaap Fair Value Assumptions Weighted Average Volatility Rate
FairValueAssumptionsWeightedAverageVolatilityRate
1.71 pure
CY2017Q2 us-gaap Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
0.0145 pure
CY2017Q2 us-gaap Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
P3Y4M24D
CY2017Q2 us-gaap Embedded Derivative No Longer Bifurcated Amount Reclassified To Stockholders Equity
EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity
184569 USD
CY2017Q3 us-gaap Share Price
SharePrice
0.1405
us-gaap Fair Value Assumptions Weighted Average Volatility Rate
FairValueAssumptionsWeightedAverageVolatilityRate
1.667 pure
CY2017Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
1086044 USD
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
131855 USD
CY2017Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
20000 USD
CY2016Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
20000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
60000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
60000 USD
CY2015Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
2500000 USD
CY2015Q4 aeye Class Of Warrant Or Right Exercisable Number
ClassOfWarrantOrRightExercisableNumber
25000000 shares
CY2015Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.10
CY2017Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1792000
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P5Y
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights
1,000,000 options vested immediately and 250,000 options vest 50% after approximately nine months, with an additional 4.17% vesting every month thereafter
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1250000 shares
CY2017Q3 us-gaap Common Stock Shares Subscriptions
CommonStockSharesSubscriptions
1450000 USD
CY2016Q4 us-gaap Common Stock Shares Subscriptions
CommonStockSharesSubscriptions
0 USD
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4194937 shares
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2017Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
8933220 shares
CY2016Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
10714286 shares
CY2017Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.14
aeye Prior Year Restricted Stock Expenses
PriorYearRestrictedStockExpenses
14583 USD
aeye Current Year Restricted Stock Expenses
CurrentYearRestrictedStockExpenses
300781 USD
CY2016Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
315364 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
0 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
234841 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
42007 USD

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