2015 Q1 Form 10-Q Financial Statement

#000146776015000006 Filed on April 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $40.00M $21.20M
YoY Change 88.68% 17.13%
Cost Of Revenue $11.50M $1.800M
YoY Change 538.89% 63.64%
Gross Profit $28.60M $19.40M
YoY Change 47.42% 13.45%
Gross Profit Margin 71.5% 91.51%
Selling, General & Admin $5.700M $4.000M
YoY Change 42.5% -2.44%
% of Gross Profit 19.93% 20.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $5.696M $4.007M
YoY Change 42.15% -1.18%
Operating Profit $22.90M $15.39M
YoY Change 48.79% 18.0%
Interest Expense $11.48M $1.757M
YoY Change 553.5% 64.51%
% of Operating Profit 50.13% 11.41%
Other Income/Expense, Net
YoY Change
Pretax Income $25.50M $17.60M
YoY Change 44.89% 47.9%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $25.51M $17.58M
YoY Change 45.13% 47.33%
Net Earnings / Revenue 63.78% 82.92%
Basic Earnings Per Share
Diluted Earnings Per Share $448.9K $422.1K
COMMON SHARES
Basic Shares Outstanding 49.56M shares 37.12M shares
Diluted Shares Outstanding 50.17M shares 37.34M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.00M $126.5M
YoY Change -68.38% -43.95%
Cash & Equivalents $39.96M $126.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $52.60M $132.7M
YoY Change -60.36% -42.35%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.366B $661.6M
YoY Change 106.45% 20.47%
Other Assets $39.20M $35.30M
YoY Change 11.05% 2841.67%
Total Long-Term Assets $1.970B $882.9M
YoY Change 123.1% 27.35%
TOTAL ASSETS
Total Short-Term Assets $52.60M $132.7M
Total Long-Term Assets $1.970B $882.9M
Total Assets $2.022B $1.016B
YoY Change 99.13% 9.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.300M $2.300M
YoY Change 43.48% 53.33%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $34.20M $21.60M
YoY Change 58.33% 6.4%
LONG-TERM LIABILITIES
Long-Term Debt $941.6M $306.2M
YoY Change 207.51% 44.5%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $941.6M $306.2M
YoY Change 207.51% 44.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $34.20M $21.60M
Total Long-Term Liabilities $941.6M $306.2M
Total Liabilities $975.9M $327.7M
YoY Change 197.8% 41.05%
SHAREHOLDERS EQUITY
Retained Earnings -$12.79M -$13.40M
YoY Change -4.55% 211.94%
Common Stock $1.063B $702.2M
YoY Change 51.34% 0.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.046B $687.9M
YoY Change
Total Liabilities & Shareholders Equity $2.022B $1.016B
YoY Change 99.13% 9.97%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $25.51M $17.58M
YoY Change 45.13% 47.33%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $17.41M $11.41M
YoY Change 52.62% -4.28%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$171.6M $8.300M
YoY Change -2167.47% -150.3%
Cash From Investing Activities -$171.6M $8.337M
YoY Change -2157.87% -150.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $193.4M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $153.5M $86.63M
YoY Change 77.16% -28.82%
NET CHANGE
Cash From Operating Activities $17.41M $11.41M
Cash From Investing Activities -$171.6M $8.337M
Cash From Financing Activities $153.5M $86.63M
Net Change In Cash -$679.0K $106.4M
YoY Change -100.64% -9.16%
FREE CASH FLOW
Cash From Operating Activities $17.41M $11.41M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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NetIncomeLossAvailableToCommonStockholdersBasic
23653000 USD
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
784000 USD
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2310000 USD
CY2015Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
4007000 USD
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
5696000 USD
CY2014Q4 us-gaap Other Assets
OtherAssets
1200000 USD
CY2015Q1 us-gaap Other Assets
OtherAssets
276000 USD
CY2014Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1100000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-422000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-17000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
678000 USD
CY2014Q4 us-gaap Participating Mortgage Loans Participation Liabilities Amount
ParticipatingMortgageLoansParticipationLiabilitiesAmount
89584000 USD
CY2015Q1 us-gaap Participating Mortgage Loans Participation Liabilities Amount
ParticipatingMortgageLoansParticipationLiabilitiesAmount
119314000 USD
CY2014Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
15475000 USD
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19380000 USD
CY2014Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1860000 USD
CY2015Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1860000 USD
CY2014Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
4627000 USD
CY2015Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2330000 USD
CY2014Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
117000 USD
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
108000 USD
CY2014Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
CY2015Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
3929000 USD
CY2014Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1860000 USD
CY2015Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1860000 USD
CY2014Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
86250000 USD
CY2015Q1 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
86250000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
3450000 shares
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
3450000 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
3450000 shares
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
3450000 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
35000 USD
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
35000 USD
CY2014Q1 us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
243000 USD
CY2015Q1 us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
727000 USD
CY2014Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
143750000 USD
CY2015Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
CY2014Q1 us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
0 USD
CY2015Q1 us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
20794000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
193430000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
CY2015Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
17291000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
USD
CY2015Q1 us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
63000 USD
CY2014Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2565000 USD
CY2015Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
3341000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
30127000 USD
CY2015Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
30127000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-10485000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-12794000 USD
CY2014Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
622194000 USD
CY2015Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
575433000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
-421000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
996000 USD
CY2015Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
193430000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
855069000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
1046482000 USD
CY2014Q4 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
522730000 USD
CY2015Q1 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
520449000 USD
CY2014Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
CY2015Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-3044000 USD
CY2014Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
2184000 USD
CY2015Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
3409000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37341050 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50171687 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37122842 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49563822 shares

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