2019 Form 10-K Financial Statement
#000121390020008655 Filed on April 06, 2020
Income Statement
| Concept | 2019 | 2018 |
|---|---|---|
| Revenue | $1.550M | $1.560M |
| YoY Change | -0.64% | 44.44% |
| Cost Of Revenue | $1.210M | $1.170M |
| YoY Change | 3.42% | 40.96% |
| Gross Profit | $340.0K | $390.0K |
| YoY Change | -12.82% | 56.0% |
| Gross Profit Margin | 21.94% | 25.0% |
| Selling, General & Admin | $16.89M | $8.000M |
| YoY Change | 111.13% | 185.71% |
| % of Gross Profit | 4967.65% | 2051.28% |
| Research & Development | $1.750M | |
| YoY Change | ||
| % of Gross Profit | 514.71% | |
| Depreciation & Amortization | $510.0K | $520.0K |
| YoY Change | -1.92% | 188.89% |
| % of Gross Profit | 150.0% | 133.33% |
| Operating Expenses | $18.70M | $8.020M |
| YoY Change | 133.17% | 185.41% |
| Operating Profit | -$18.36M | -$7.630M |
| YoY Change | 140.63% | 198.05% |
| Interest Expense | $2.170M | -$470.0K |
| YoY Change | -561.7% | 147.37% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$860.0K | $50.00K |
| YoY Change | -1820.0% | 150.0% |
| Pretax Income | -$17.31M | -$7.665M |
| YoY Change | 125.83% | 101.99% |
| Income Tax | $0.00 | $0.00 |
| % Of Pretax Income | ||
| Net Earnings | -$18.07M | -$7.770M |
| YoY Change | 132.56% | 124.57% |
| Net Earnings / Revenue | -1165.81% | -498.08% |
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$240.5K | -$107.9K |
| COMMON SHARES | ||
| Basic Shares Outstanding | ||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2019 | 2018 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $760.0K | $2.250M |
| YoY Change | -66.22% | -25.74% |
| Cash & Equivalents | ||
| Short-Term Investments | ||
| Other Short-Term Assets | $560.0K | $1.300M |
| YoY Change | -56.92% | 766.67% |
| Inventory | $10.00K | |
| Prepaid Expenses | ||
| Receivables | $240.0K | $50.00K |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $1.570M | $3.630M |
| YoY Change | -56.75% | 12.38% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $8.340M | $8.130M |
| YoY Change | 2.58% | 6.0% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $480.0K | $390.0K |
| YoY Change | 23.08% | |
| Other Assets | $0.00 | |
| YoY Change | -100.0% | |
| Total Long-Term Assets | $8.920M | $9.770M |
| YoY Change | -8.7% | 3.5% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $1.570M | $3.630M |
| Total Long-Term Assets | $8.920M | $9.770M |
| Total Assets | $10.49M | $13.40M |
| YoY Change | -21.72% | 5.76% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.140M | $10.00K |
| YoY Change | 11300.0% | |
| Accrued Expenses | $1.620M | $810.0K |
| YoY Change | 100.0% | 268.18% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | -100.0% | |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $2.840M | $1.140M |
| YoY Change | 149.12% | -78.73% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $3.190M | $1.000M |
| YoY Change | 219.0% | |
| Other Long-Term Liabilities | ||
| YoY Change | ||
| Total Long-Term Liabilities | $3.190M | $1.000M |
| YoY Change | 219.0% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $2.840M | $1.140M |
| Total Long-Term Liabilities | $3.190M | $1.000M |
| Total Liabilities | $6.030M | $1.280M |
| YoY Change | 371.09% | -73.17% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $4.470M | $12.12M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $10.49M | $13.40M |
| YoY Change | -21.72% | 5.76% |
Cashflow Statement
| Concept | 2019 | 2018 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$18.07M | -$7.770M |
| YoY Change | 132.56% | 124.57% |
| Depreciation, Depletion And Amortization | $510.0K | $520.0K |
| YoY Change | -1.92% | 188.89% |
| Cash From Operating Activities | -$7.080M | -$4.400M |
| YoY Change | 60.91% | 228.36% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$390.0K | -$850.0K |
| YoY Change | -54.12% | -89.49% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$160.0K | -$450.0K |
| YoY Change | -64.44% | -742.86% |
| Cash From Investing Activities | -$550.0K | -$1.310M |
| YoY Change | -58.02% | -83.65% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 6.150M | 5.040M |
| YoY Change | 22.02% | -46.95% |
| NET CHANGE | ||
| Cash From Operating Activities | -7.080M | -4.400M |
| Cash From Investing Activities | -550.0K | -1.310M |
| Cash From Financing Activities | 6.150M | 5.040M |
| Net Change In Cash | -1.480M | -670.0K |
| YoY Change | 120.9% | -546.67% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$7.080M | -$4.400M |
| Capital Expenditures | -$390.0K | -$850.0K |
| Free Cash Flow | -$6.690M | -$3.550M |
| YoY Change | 88.45% | -152.59% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2018 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-7665284 | USD |
| CY2019 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-17310582 | USD |
| CY2018 | avco |
Loss From Noncontrolling Interest Deficit Adjustment
LossFromNoncontrollingInterestDeficitAdjustment
|
USD | |
| CY2019 | avco |
Loss From Noncontrolling Interest Deficit Adjustment
LossFromNoncontrollingInterestDeficitAdjustment
|
-862200 | USD |
| CY2018Q4 | us-gaap |
Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
|
USD | |
| CY2019Q4 | us-gaap |
Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
|
311177 | USD |
| CY2018Q4 | avco |
Accrued Research And Development Fees
AccruedResearchAndDevelopmentFees
|
USD | |
| CY2019Q4 | avco |
Accrued Research And Development Fees
AccruedResearchAndDevelopmentFees
|
650000 | USD |
