$ALTS
ALT5 Sigma Corp

2020 Q1 Form 10-Q Financial Statement

#000156459020024581 Filed on May 12, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $8.450M $5.674M
YoY Change 48.92% -36.32%
Cost Of Revenue $6.976M $5.140M
YoY Change 35.72% -20.92%
Gross Profit $1.474M $1.150M
YoY Change 28.17% -52.28%
Gross Profit Margin 17.44% 20.27%
Selling, General & Admin $4.873M $4.020M
YoY Change 21.22% 1.26%
% of Gross Profit 330.6% 349.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.017M $1.013M
YoY Change 0.39% 2.32%
% of Gross Profit 69.0% 88.09%
Operating Expenses $4.873M $4.030M
YoY Change 20.92% 1.26%
Operating Profit -$3.399M -$2.880M
YoY Change 18.02% 83.44%
Interest Expense -$110.0K $10.00K
YoY Change -1200.0% -101.69%
% of Operating Profit
Other Income/Expense, Net $705.0K $147.0K
YoY Change 379.59% 47.0%
Pretax Income -$2.694M -$2.728M
YoY Change -1.25% 33.07%
Income Tax -$411.0K -$700.0K
% Of Pretax Income
Net Earnings -$2.283M -$2.028M
YoY Change 12.57% 37.03%
Net Earnings / Revenue -27.02% -35.74%
Basic Earnings Per Share -$1.33 -$1.20
Diluted Earnings Per Share -$1.33 -$1.20
COMMON SHARES
Basic Shares Outstanding 1.712M 1.695M
Diluted Shares Outstanding 1.712M 1.695M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $840.0K $650.0K
YoY Change 29.23% -69.77%
Cash & Equivalents $837.0K $652.0K
Short-Term Investments
Other Short-Term Assets $320.0K $610.0K
YoY Change -47.54% 74.29%
Inventory $1.310M $980.0K
Prepaid Expenses
Receivables $4.685M $4.610M
Other Receivables $1.026M $110.0K
Total Short-Term Assets $6.430M $6.960M
YoY Change -7.61% -42.38%
LONG-TERM ASSETS
Property, Plant & Equipment $2.840M $2.580M
YoY Change 10.08% 426.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $75.00K $640.0K
YoY Change -88.28% 25.49%
Total Long-Term Assets $20.05M $27.06M
YoY Change -25.91% 9.2%
TOTAL ASSETS
Total Short-Term Assets $6.430M $6.960M
Total Long-Term Assets $20.05M $27.06M
Total Assets $26.48M $34.02M
YoY Change -22.16% -7.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.140M $3.930M
YoY Change 5.34% 53.52%
Accrued Expenses $3.335M $6.430M
YoY Change -48.13% 29.12%
Deferred Revenue $473.0K
YoY Change
Short-Term Debt $2.480M $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $100.0K
YoY Change -100.0% -33.33%
Total Short-Term Liabilities $16.72M $10.46M
YoY Change 59.85% 30.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.310M $1.130M
YoY Change 15.93% 769.23%
Total Long-Term Liabilities $1.310M $1.130M
YoY Change 15.93% 769.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.72M $10.46M
Total Long-Term Liabilities $1.310M $1.130M
Total Liabilities $18.04M $14.43M
YoY Change 25.02% 19.06%
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 $8.440M $19.59M
YoY Change
Total Liabilities & Shareholders Equity $26.48M $34.02M
YoY Change -22.16% -7.7%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$2.283M -$2.028M
YoY Change 12.57% 37.03%
Depreciation, Depletion And Amortization $1.017M $1.013M
YoY Change 0.39% 2.32%
Cash From Operating Activities $696.0K -$246.0K
YoY Change -382.93% -107.34%
INVESTING ACTIVITIES
Capital Expenditures $8.000K $163.0K
YoY Change -95.09% -1730.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $50.00K
YoY Change -100.0% -96.5%
Cash From Investing Activities -$64.00K -$110.0K
YoY Change -41.82% -107.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -280.0K -193.0K
YoY Change 45.08% -96.73%
NET CHANGE
Cash From Operating Activities 696.0K -246.0K
Cash From Investing Activities -64.00K -110.0K
Cash From Financing Activities -280.0K -193.0K
Net Change In Cash 356.0K -543.0K
YoY Change -165.56% -52.78%
FREE CASH FLOW
Cash From Operating Activities $696.0K -$246.0K
Capital Expenditures $8.000K $163.0K
Free Cash Flow $688.0K -$409.0K
YoY Change -268.22% -112.17%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
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DeferredTaxLiabilities
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CY2020Q1 us-gaap Other Nonoperating Income Expense
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CY2019Q1 us-gaap Other Nonoperating Income Expense
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CY2019Q1 us-gaap Nonoperating Income Expense
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CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2020Q1 us-gaap Income Tax Expense Benefit
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CY2019Q1 us-gaap Income Tax Expense Benefit
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CY2019Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Preferred Stock Dividends And Other Adjustments
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CY2019Q1 us-gaap Preferred Stock Dividends And Other Adjustments
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CY2020Q1 us-gaap Dividends Cash
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CY2019Q1 us-gaap Dividends Cash
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CY2019Q1 us-gaap Earnings Per Share Basic
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CY2019Q1 us-gaap Earnings Per Share Diluted
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2020Q1 us-gaap Profit Loss
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CY2019Q1 us-gaap Depreciation Depletion And Amortization
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CY2019Q1 us-gaap Amortization Of Financing Costs And Discounts
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CY2019Q1 us-gaap Increase Decrease In Other Operating Liabilities
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CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2019Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2020Q1 us-gaap Increase Decrease In Income Taxes Receivable
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CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2019Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2020Q1 us-gaap Increase Decrease In Inventories
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CY2019Q1 us-gaap Increase Decrease In Inventories
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CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2019Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
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CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2019Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2019Q1 us-gaap Income Taxes Paid Net
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CY2020Q1 jan Right To Use Asset Operating Leases Capitalized
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CY2019Q1 jan Right To Use Asset Operating Leases Capitalized
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CY2019Q1 us-gaap Stockholders Equity
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CY2019Q1 us-gaap Interest Paid Net
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CY2020Q1 us-gaap Use Of Estimates
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<p style="text-align:justify;margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumption that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Significant estimates made in connection with the accompanying consolidated financial statements include the estimated reserve for doubtful current and long-term trade and other receivables, the estimated reserve for excess and obsolete inventory, estimated fair value and forfeiture rates for stock-based compensation, fair values in connection with the analysis of other intangibles and long-lived assets for impairment, valuation allowance against deferred tax assets and estimated useful lives for intangible assets and property and equipment.</p>
CY2020Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-align:justify;margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company maintains cash balances at several banks in several states including, Minnesota, California, and Nevada. Accounts are insured by the Federal Deposit Insurance Corporation up to $250 per institution as of March&#160;28, 2020. At times, balances may exceed federally insured limits.</p>
CY2020Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0
CY2019Q4 us-gaap Inventory Valuation Reserves
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CY2020Q1 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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CY2019Q4 us-gaap Deferred Costs
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CY2020Q1 us-gaap Accounts Receivable From Securitization
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CY2020Q1 us-gaap Number Of Operating Segments
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CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2020Q1 us-gaap Advertising Expense
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CY2019Q1 us-gaap Advertising Expense
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CY2020Q1 jan Operating Lease Lease Expiration Year
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CY2020Q1 us-gaap Lessee Operating Lease Renewal Term
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CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2020Q1 us-gaap Number Of Reportable Segments
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CY2020Q1 us-gaap Depreciation
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2020Q1 us-gaap Operating Lease Liability
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CY2019Q1 us-gaap Depreciation
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CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2020Q1 us-gaap Amortization Of Intangible Assets
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CY2019Q1 us-gaap Amortization Of Intangible Assets
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CY2020Q1 us-gaap Deposits Assets Noncurrent
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CY2020Q1 us-gaap Other Assets Noncurrent
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75000
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
77000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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1018000
CY2020Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3335000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3938000
CY2017Q2 us-gaap Sales And Excise Tax Payable Current
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4132000
CY2017Q2 us-gaap Interest Payable Current
InterestPayableCurrent
500000
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.153
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.257
CY2019Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
280000
CY2020Q1 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
800000
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
42000
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
223214
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1000000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
281000
CY2020Q1 jan Share Based Compensation Amortized Expiration Period
ShareBasedCompensationAmortizedExpirationPeriod
2021-09
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
34000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
100900
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
56500
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
44400
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
78400
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.07
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
9.30
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.31
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.85
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.16
CY2020Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
33363
CY2019Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
33363
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y10M2D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y10M2D
CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
194000
CY2020Q1 jan Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amortized Period
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmortizedPeriod
2021-02
CY2020Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.40
CY2019Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.40
CY2020Q1 jan Warrant Expiration Date
WarrantExpirationDate
2020-05-31
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
111763
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
134363
CY2020Q1 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
9000
CY2019Q1 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
19000

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