2018 Q2 Form 10-Q Financial Statement

#000142368918000043 Filed on August 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $548.0M $152.0M
YoY Change 260.53% 2433.33%
Cost Of Revenue $237.0M $112.0M
YoY Change 111.61% -11.11%
Gross Profit $311.0M $40.00M
YoY Change 677.5% -133.33%
Gross Profit Margin 56.75% 26.32%
Selling, General & Admin $10.00M $10.00M
YoY Change 0.0%
% of Gross Profit 3.22% 25.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $1.000M
YoY Change -100.0%
% of Gross Profit 0.0% 2.5%
Operating Expenses $18.00M $16.00M
YoY Change 12.5% -60.0%
Operating Profit $293.0M $24.00M
YoY Change 1120.83% -115.0%
Interest Expense $237.0M $112.0M
YoY Change 111.61% 10.89%
% of Operating Profit 80.89% 466.67%
Other Income/Expense, Net
YoY Change
Pretax Income $293.0M $24.00M
YoY Change 1120.83% -117.78%
Income Tax
% Of Pretax Income
Net Earnings $293.0M $24.00M
YoY Change 1120.83% -117.78%
Net Earnings / Revenue 53.47% 15.79%
Basic Earnings Per Share $0.70 $0.05
Diluted Earnings Per Share $0.70 $0.05
COMMON SHARES
Basic Shares Outstanding 404.9M shares 346.4M shares
Diluted Shares Outstanding 405.2M shares 346.5M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $863.0M $1.122B
YoY Change -23.08% -0.8%
Cash & Equivalents $863.0M $1.122B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $31.00M $353.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $894.0M $1.475B
YoY Change -39.39% -64.14%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $70.46B $54.06B
YoY Change 30.34% -0.9%
Other Assets $447.0M $261.0M
YoY Change 71.26% -81.34%
Total Long-Term Assets $72.24B $55.24B
YoY Change 30.79% -2.0%
TOTAL ASSETS
Total Short-Term Assets $894.0M $1.475B
Total Long-Term Assets $72.24B $55.24B
Total Assets $73.14B $56.71B
YoY Change 28.97% -6.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $450.0M $133.0M
YoY Change 238.35% 87.32%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $48.84B $39.06B
YoY Change 25.04% -13.17%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $50.88B $41.27B
YoY Change 23.29% -13.5%
LONG-TERM LIABILITIES
Long-Term Debt $313.0M $405.0M
YoY Change -22.72% -23.3%
Other Long-Term Liabilities $12.90B $7.294B
YoY Change 76.91% 60.8%
Total Long-Term Liabilities $13.22B $7.699B
YoY Change 71.67% 52.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.88B $41.27B
Total Long-Term Liabilities $13.22B $7.699B
Total Liabilities $64.10B $48.97B
YoY Change 30.9% -7.21%
SHAREHOLDERS EQUITY
Retained Earnings -$2.299B -$2.800B
YoY Change -17.89% -23.68%
Common Stock $4.000M $4.000M
YoY Change 0.0% 33.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.042B $7.745B
YoY Change
Total Liabilities & Shareholders Equity $73.14B $56.71B
YoY Change 28.97% -6.22%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $293.0M $24.00M
YoY Change 1120.83% -117.78%
Depreciation, Depletion And Amortization $0.00 $1.000M
YoY Change -100.0%
Cash From Operating Activities $122.0M $289.0M
YoY Change -57.79% -11.35%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$592.0M -$166.0M
YoY Change 256.63% -105.09%
Cash From Investing Activities -$592.0M -$166.0M
YoY Change 256.63% -105.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 422.0M -535.0M
YoY Change -178.88% -84.98%
NET CHANGE
Cash From Operating Activities 122.0M 289.0M
Cash From Investing Activities -592.0M -166.0M
Cash From Financing Activities 422.0M -535.0M
Net Change In Cash -48.00M -412.0M
YoY Change -88.35% -1972.73%
FREE CASH FLOW
Cash From Operating Activities $122.0M $289.0M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Loss Contingency Disclosures
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Loss Contingencies</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We evaluate the existence of any pending or threatened litigation or other potential claims against the Company in accordance with ASC Topic 450, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Contingencies, </font><font style="font-family:inherit;font-size:10pt;">which requires that we assess the likelihood and range of potential outcomes of any such matters. We are the defendant in three stockholder derivative lawsuits alleging that certain of our current and former directors and officers breached fiduciary duties and wasted corporate assets relating to past renewals of the management agreement with our former external manager and the internalization of our management, which occurred on July 1, 2016. Although the outcomes of these cases cannot be predicted with certainty, we do not believe that these cases have merit or will result in a material liability, and, as of </font><font style="font-family:inherit;font-size:10pt;">June 30, 2018</font><font style="font-family:inherit;font-size:10pt;">, we did not accrue a loss contingency related to these matters.</font></div></div>

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