$ALTS
ALT5 Sigma Corp

2020 Q2 Form 10-Q Financial Statement

#000156459020039002 Filed on August 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $4.007M $6.835M $5.674M
YoY Change -41.38% -18.34% -36.32%
Cost Of Revenue $2.962M $5.730M $5.140M
YoY Change -48.31% -7.88% -20.92%
Gross Profit $1.045M $1.870M $1.150M
YoY Change -44.12% -13.02% -52.28%
Gross Profit Margin 26.08% 27.36% 20.27%
Selling, General & Admin $3.363M $4.260M $4.020M
YoY Change -21.06% 13.6% 1.26%
% of Gross Profit 321.82% 227.81% 349.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.027M $936.0K $1.013M
YoY Change 9.72% -6.4% 2.32%
% of Gross Profit 98.28% 50.05% 88.09%
Operating Expenses $3.363M $4.260M $4.030M
YoY Change -21.06% 13.3% 1.26%
Operating Profit -$2.318M -$2.390M -$2.880M
YoY Change -3.01% 48.45% 83.44%
Interest Expense -$50.00K -$10.00K $10.00K
YoY Change 400.0% -75.0% -101.69%
% of Operating Profit
Other Income/Expense, Net -$62.00K $640.0K $147.0K
YoY Change -109.69% -6500.0% 47.0%
Pretax Income -$2.380M -$1.760M -$2.728M
YoY Change 35.23% 6.02% 33.07%
Income Tax $62.00K -$390.0K -$700.0K
% Of Pretax Income
Net Earnings -$2.442M -$1.371M -$2.028M
YoY Change 78.12% -0.65% 37.03%
Net Earnings / Revenue -60.94% -20.06% -35.74%
Basic Earnings Per Share -$1.22 -$1.20
Diluted Earnings Per Share -$1.22 -$805.9K -$1.20
COMMON SHARES
Basic Shares Outstanding 1.994M 1.695M
Diluted Shares Outstanding 1.994M 1.695M

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $880.0K $1.370M $650.0K
YoY Change -35.77% 234.15% -69.77%
Cash & Equivalents $883.0K $1.370M $652.0K
Short-Term Investments
Other Short-Term Assets $850.0K $860.0K $610.0K
YoY Change -1.16% -36.3% 74.29%
Inventory $1.830M $1.020M $980.0K
Prepaid Expenses
Receivables $3.273M $4.870M $4.610M
Other Receivables $250.0K $230.0K $110.0K
Total Short-Term Assets $6.880M $8.350M $6.960M
YoY Change -17.6% -5.33% -42.38%
LONG-TERM ASSETS
Property, Plant & Equipment $2.880M $3.010M $2.580M
YoY Change -4.32% 410.17% 426.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $75.00K $280.0K $640.0K
YoY Change -73.21% -22.22% 25.49%
Total Long-Term Assets $19.14M $25.13M $27.06M
YoY Change -23.84% -9.02% 9.2%
TOTAL ASSETS
Total Short-Term Assets $6.880M $8.350M $6.960M
Total Long-Term Assets $19.14M $25.13M $27.06M
Total Assets $26.02M $33.48M $34.02M
YoY Change -22.28% -8.12% -7.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.900M $3.780M $3.930M
YoY Change -49.74% 35.97% 53.52%
Accrued Expenses $4.741M $7.070M $6.430M
YoY Change -32.94% 26.25% 29.12%
Deferred Revenue $827.0K
YoY Change
Short-Term Debt $3.469M $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $3.470M $700.0K $100.0K
YoY Change 395.71% -33.33%
Total Short-Term Liabilities $18.45M $11.55M $10.46M
YoY Change 59.75% 24.86% 30.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.470M $1.250M $1.130M
YoY Change 17.6% 733.33% 769.23%
Total Long-Term Liabilities $1.470M $1.250M $1.130M
YoY Change 17.6% 733.33% 769.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.45M $11.55M $10.46M
Total Long-Term Liabilities $1.470M $1.250M $1.130M
Total Liabilities $19.92M $15.25M $14.43M
YoY Change 30.64% 16.23% 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 $6.099M $18.23M $19.59M
YoY Change
Total Liabilities & Shareholders Equity $26.02M $33.48M $34.02M
YoY Change -22.28% -8.12% -7.7%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$2.442M -$1.371M -$2.028M
YoY Change 78.12% -0.65% 37.03%
Depreciation, Depletion And Amortization $1.027M $936.0K $1.013M
YoY Change 9.72% -6.4% 2.32%
Cash From Operating Activities -$2.320M -$870.0K -$246.0K
YoY Change 166.67% 8.75% -107.34%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$70.00K $163.0K
YoY Change 14.29% -58.82% -1730.0%
Acquisitions
YoY Change
Other Investing Activities $1.070M $50.00K
YoY Change -184.25% -96.5%
Cash From Investing Activities -$80.00K $1.000M -$110.0K
YoY Change -108.0% -169.93% -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 2.470M 560.0K -193.0K
YoY Change 341.07% 14.29% -96.73%
NET CHANGE
Cash From Operating Activities -2.320M -870.0K -246.0K
Cash From Investing Activities -80.00K 1.000M -110.0K
Cash From Financing Activities 2.470M 560.0K -193.0K
Net Change In Cash 70.00K 690.0K -543.0K
YoY Change -89.86% -139.66% -52.78%
FREE CASH FLOW
Cash From Operating Activities -$2.320M -$870.0K -$246.0K
Capital Expenditures -$80.00K -$70.00K $163.0K
Free Cash Flow -$2.240M -$800.0K -$409.0K
YoY Change 180.0% 26.98% -112.17%

Facts In Submission

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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>
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CY2020Q2 us-gaap Accrued Liabilities Current
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4741000
CY2019Q4 us-gaap Accrued Liabilities Current
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3938000
CY2017Q2 us-gaap Sales And Excise Tax Payable Current
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4132000
CY2017Q2 us-gaap Interest Payable Current
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500000
us-gaap Effective Income Tax Rate Continuing Operations
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-0.069
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.242
CY2020Q2 us-gaap Operating Loss Carryforwards Valuation Allowance
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203000
CY2020Q2 us-gaap Short Term Borrowings
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3469000
CY2019Q4 us-gaap Short Term Borrowings
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280000
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800000
jan Contract With Customer Liability Accrued
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358000
us-gaap Contract With Customer Liability Revenue Recognized
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46000
us-gaap Stock Issued During Period Shares New Issues
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223214
us-gaap Stock Issued During Period Value New Issues
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1000000
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188000
jan Share Based Compensation Amortized Expiration Period
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2021-09
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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34000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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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
CY2020Q2 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
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13.31
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.85
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.16
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
CY2020Q2 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
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M6D
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
39000
jan Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amortized Period
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmortizedPeriod
2021-02
CY2020Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
33363
CY2019Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
33363
CY2020Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.40
CY2019Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.40
jan Warrant Expiration Date
WarrantExpirationDate
2021-11-30
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
111763
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
134363
CY2020Q2 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
3000
us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
12000
us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
17000
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1027000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
936000

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