2020 Q1 Form 10-K Financial Statement

#000143774920006575 Filed on March 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 2018 Q4
Revenue $15.20K $11.73K $10.00K
YoY Change 272.91% -84.91%
Cost Of Revenue $10.81K $8.772K $0.00
YoY Change 297.57% -86.48%
Gross Profit $4.394K $2.959K $0.00
YoY Change 223.56% -76.97%
Gross Profit Margin 28.91% 25.22% 0.0%
Selling, General & Admin $380.3K $1.531M $450.0K
YoY Change -2.36% 16.42% 150.0%
% of Gross Profit 8654.26% 51735.79%
Research & Development $0.00 $52.51K $30.00K
YoY Change -100.0% 61.12%
% of Gross Profit 0.0% 1774.59%
Depreciation & Amortization $10.58K
YoY Change -40.88%
% of Gross Profit 357.52%
Operating Expenses $380.3K $1.583M $490.0K
YoY Change -2.96% 17.5% 172.22%
Operating Profit -$375.9K -$1.580M -$490.0K
YoY Change -3.75% 18.41% 172.22%
Interest Expense -$1.005K -$885.00 $0.00
YoY Change -213.56% -122.33% -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$380.0K -$1.580M -$490.0K
YoY Change -2.56% 17.91% 133.33%
Income Tax
% Of Pretax Income
Net Earnings -$376.9K -$1.581M -$500.0K
YoY Change -3.71% 18.13% 138.1%
Net Earnings / Revenue -2479.47% -13479.65% -5000.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.14 -$594.0K -$0.20
COMMON SHARES
Basic Shares Outstanding 40.52M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.0K $410.0K $1.280M
YoY Change -72.38% -67.97% -35.35%
Cash & Equivalents $289.6K $410.0K $1.277M
Short-Term Investments
Other Short-Term Assets $30.00K $30.00K $30.00K
YoY Change 50.0% 0.0% -62.5%
Inventory $4.071K $0.00
Prepaid Expenses
Receivables $12.58K
Other Receivables $0.00
Total Short-Term Assets $331.9K $450.0K $1.303M
YoY Change -69.02% -65.38% -37.48%
LONG-TERM ASSETS
Property, Plant & Equipment $4.486K $10.00K $14.01K
YoY Change -59.28% 0.0% -48.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $147.6K $150.0K $160.5K
YoY Change -4.49% -6.25% -23.36%
TOTAL ASSETS
Total Short-Term Assets $331.9K $450.0K $1.303M
Total Long-Term Assets $147.6K $150.0K $160.5K
Total Assets $479.5K $600.0K $1.464M
YoY Change -60.89% -58.9% -36.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $300.0K $210.0K $120.0K
YoY Change 114.29% 75.0% -25.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $510.0K $440.0K $510.0K
YoY Change 6.25% -13.73% -42.7%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $912.9K $750.0K $733.6K
YoY Change 35.49% 2.74% -59.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $912.9K $750.0K $733.6K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $912.9K $750.0K $733.6K
YoY Change 35.49% 2.74% -59.76%
SHAREHOLDERS EQUITY
Retained Earnings -$5.147M -$3.188M
YoY Change 43.77% 69.23%
Common Stock $405.2K $391.2K
YoY Change 2.4% 68.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$433.4K -$160.0K $730.1K
YoY Change
Total Liabilities & Shareholders Equity $479.5K $600.0K $1.464M
YoY Change -60.89% -58.9% -36.19%

Cashflow Statement

Concept 2020 Q1 2019 2018 Q4
OPERATING ACTIVITIES
Net Income -$376.9K -$1.581M -$500.0K
YoY Change -3.71% 18.13% 138.1%
Depreciation, Depletion And Amortization $10.58K
YoY Change -40.88%
Cash From Operating Activities -$119.5K -$909.5K -$310.0K
YoY Change -44.74% -9.88% -11.43%
INVESTING ACTIVITIES
Capital Expenditures $1.638K $0.00
YoY Change -66.63% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$13.11K -$70.00K
YoY Change 80.12% 600.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 54.97K 450.0K
YoY Change -78.44% -79.55%
NET CHANGE
Cash From Operating Activities -119.5K -909.5K -310.0K
Cash From Investing Activities -13.11K -70.00K
Cash From Financing Activities 54.97K 450.0K
Net Change In Cash -119.5K -867.6K 70.00K
YoY Change -48.13% 13.94% -96.2%
FREE CASH FLOW
Cash From Operating Activities -$119.5K -$909.5K -$310.0K
Capital Expenditures $1.638K $0.00
Free Cash Flow -$119.5K -$911.1K -$310.0K
YoY Change -45.15% -10.16% -13.89%

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CY2019 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2019 us-gaap Open Tax Year
OpenTaxYear
2019 2018 2017
CY2019 us-gaap Operating Expenses
OperatingExpenses
1583372
CY2018 us-gaap Operating Expenses
OperatingExpenses
1347523
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
-1580413
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
-1334676
CY2019Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
24948000
CY2019 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
11469
CY2018 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
2369
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1638
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4908
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
32124
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
26580
CY2019 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
125048
CY2018 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
401250
CY2019 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
CY2018 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
48729
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
107549
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
105911
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5069
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14010
CY2019 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
52510
CY2018 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
32591
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4769632
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3188334
CY2019 us-gaap Revenues
Revenues
11731
CY2018 us-gaap Revenues
Revenues
77724
CY2019 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1530862
CY2018 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1314932
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
2.76
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
288000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
4945000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4945000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4657000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.38
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.038
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1217375
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0.038
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.38
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.38
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y
CY2018Q3 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
539447
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2018 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
18852
CY2018 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1122285
CY2019 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
130000
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
116250
CY2019 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
69500
CY2019 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
357053
CY2018 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
100366
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
470795
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
730079
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-156682
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-156682
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
730079
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Use of Estimates</div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</div></div></div>
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
39896388
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35643804

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