$APSI
AQUA POWER SYSTEMS INC.

2014 Q1 Form 10-Q Financial Statement

#000114420414016012 Filed on March 17, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q2 2013 Q1
Revenue $561.00 $782.00 $335.00
YoY Change 67.46% -95.82% 53.67%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $40.00K $40.00K $30.00K
YoY Change 33.33% 33.33% 50.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $3.142K $0.00
YoY Change
% of Gross Profit
Operating Expenses $40.54K $70.74K $31.70K
YoY Change 27.89% 135.81% 32.77%
Operating Profit -$39.98K -$69.96K -$31.36K
YoY Change 27.47% 32.58%
Interest Expense $167.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $3.739K
YoY Change
Pretax Income -$40.14K -$66.22K -$31.36K
YoY Change 28.0% 231.11% 32.58%
Income Tax
% Of Pretax Income
Net Earnings -$40.14K -$66.22K -$31.36K
YoY Change 28.0% 231.11% 32.58%
Net Earnings / Revenue -7155.79% -8468.16% -9361.79%
Basic Earnings Per Share
Diluted Earnings Per Share -$248.30 -$8.939K -$3.352K
COMMON SHARES
Basic Shares Outstanding 8.951M shares 8.951M
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 Q2 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $20.00K
YoY Change -100.0% -100.0%
Cash & Equivalents $160.00 $3.272K $7.271K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $0.00
Receivables $361.00 $513.00 $114.00
Other Receivables $0.00 $0.00 $10.00K
Total Short-Term Assets $521.00 $3.785K $25.51K
YoY Change -97.96% -96.56%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $39.85K
YoY Change -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $39.85K
YoY Change -100.0% -100.0%
TOTAL ASSETS
Total Short-Term Assets $521.00 $3.785K $25.51K
Total Long-Term Assets $0.00 $0.00 $39.85K
Total Assets $521.00 $3.785K $65.36K
YoY Change -99.2% -97.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.95K $20.00K $6.096K
YoY Change 1342.72% 60.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $10.00K $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $120.0K $30.00K $20.00K
YoY Change 500.0% 200.0%
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 $120.0K $30.00K $20.00K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $107.2K $29.92K $21.05K
YoY Change 409.05% 139.35%
SHAREHOLDERS EQUITY
Retained Earnings -$382.2K -$282.4K -$206.7K
YoY Change 84.89% 211.96%
Common Stock $275.6K $256.2K $251.0K
YoY Change 9.77% 8.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$106.6K -$26.13K $44.31K
YoY Change
Total Liabilities & Shareholders Equity $521.00 $3.785K $65.36K
YoY Change -99.2% -97.62%

Cashflow Statement

Concept 2014 Q1 2013 Q2 2013 Q1
OPERATING ACTIVITIES
Net Income -$40.14K -$66.22K -$31.36K
YoY Change 28.0% 231.11% 32.58%
Depreciation, Depletion And Amortization $0.00 $3.142K $0.00
YoY Change
Cash From Operating Activities -$10.00K -$20.00K -$30.00K
YoY Change -66.67% 100.0% 50.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$10.00K
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 -$10.00K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.00K 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -10.00K -20.00K -30.00K
Cash From Investing Activities 0.000 0.000 -10.00K
Cash From Financing Activities 10.00K 0.000 0.000
Net Change In Cash 0.000 -20.00K -40.00K
YoY Change -100.0% -128.57% 100.0%
FREE CASH FLOW
Cash From Operating Activities -$10.00K -$20.00K -$30.00K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$10.00K -$30.00K
YoY Change -66.67% 50.0%

Facts In Submission

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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.75in; font-size-adjust: none; font-stretch: normal"> <strong><em><u>Concentration of Credit Risk</u></em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.75in; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.75in; font-size-adjust: none; font-stretch: normal"> At January 31, 2014 and April 30, 2013, accounts receivable of $686 and $513, respectively, consisted of two main types of receivables; receivables from a local utility company for energy resale and an energy rebate from the State of North Carolina.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.75in; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.75in; font-size-adjust: none; font-stretch: normal"> For the nine months ended January 31, 2014, the local utility company accounted for approximately 16% of revenues and 1% of the total outstanding accounts receivable and the energy rebate from the state of North Carolina accounted for 84% of revenue and 99% of total outstanding accounts receivable.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.75in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.75in; font-size-adjust: none; font-stretch: normal"> For the nine months ended January 31, 2013, the local utility company accounted for approximately 19% of revenues and 27% of the total outstanding accounts receivable and the energy rebate from the state of North Carolina accounted for 81% of revenue and 73% of total outstanding accounts receivable.</p> <!--EndFragment--></div> </div>
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Revenues
6968 USD
CY2014Q1 us-gaap Revenues
Revenues
561 USD
CY2013Q1 us-gaap Revenues
Revenues
335 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
USD
CY2011Q2 us-gaap Stockholders Equity
StockholdersEquity
78705 USD
us-gaap Stock Issued During Period Value Issued For Cash
StockIssuedDuringPeriodValueIssuedForCash
82250 USD
CY2012 us-gaap Stock Issued During Period Value Issued For Cash
StockIssuedDuringPeriodValueIssuedForCash
135000 USD
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
750 USD
CY2013Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8951351 shares
us-gaap Use Of Estimates
UseOfEstimates
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.75in; font-size-adjust: none; font-stretch: normal"> <strong><em><u>Use of Estimates</u></em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.75in; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.75in; font-size-adjust: none; font-stretch: normal"> In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Significant estimates include valuation of in kind contribution of services, valuation of deferred tax assets, provision for allowance for doubtful accounts, and depreciable lives and impairment of equipment. Actual results could differ from those estimates.</p> <!--EndFragment--></div> </div>
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8951351 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8951351 shares
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8951351 shares

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