2016 Q1 Form 10-Q Financial Statement

#000156459016018941 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $43.75K $43.75K
YoY Change 0.0% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.48M $7.440M
YoY Change 40.86% 31.91%
% of Gross Profit
Research & Development $10.02M $11.64M
YoY Change -13.92% 123.16%
% of Gross Profit
Depreciation & Amortization $800.0K $400.0K
YoY Change 100.0% 1.07%
% of Gross Profit
Operating Expenses $21.31M $29.68M
YoY Change -28.2% 163.64%
Operating Profit -$21.26M -$29.63M
YoY Change -28.24% 164.28%
Interest Expense $79.06K $198.1K
YoY Change -60.09% 65.94%
% of Operating Profit
Other Income/Expense, Net $449.0K $536.1K
YoY Change -16.25% -119.35%
Pretax Income -$20.82M -$28.68M
YoY Change -27.43% 105.14%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$20.82M -$28.68M
YoY Change -27.43% 105.73%
Net Earnings / Revenue -47579.11% -65563.41%
Basic Earnings Per Share
Diluted Earnings Per Share -$348.3K -$467.9K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.50M $116.0M
YoY Change -46.98% -40.42%
Cash & Equivalents $50.30M $96.45M
Short-Term Investments $11.20M $19.60M
Other Short-Term Assets $4.700M $327.4K
YoY Change 1335.62% -48.35%
Inventory
Prepaid Expenses $3.811M
Receivables
Other Receivables
Total Short-Term Assets $66.10M $120.1M
YoY Change -44.98% -25.8%
LONG-TERM ASSETS
Property, Plant & Equipment $4.400M $4.127M
YoY Change 6.61% 25.44%
Goodwill
YoY Change
Intangibles $25.70M
YoY Change 699.88%
Long-Term Investments $12.40M
YoY Change -63.53%
Other Assets $100.0K $0.00
YoY Change -100.0%
Total Long-Term Assets $28.50M $42.23M
YoY Change -32.51% 3.72%
TOTAL ASSETS
Total Short-Term Assets $66.10M $120.1M
Total Long-Term Assets $28.50M $42.23M
Total Assets $94.60M $162.4M
YoY Change -41.74% -19.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.500M $4.936M
YoY Change 51.94% 96.54%
Accrued Expenses $5.200M $2.041M
YoY Change 154.76% 123.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $200.0K $200.0K
YoY Change 0.0% -84.62%
Total Short-Term Liabilities $14.10M $13.20M
YoY Change 6.82% 25.92%
LONG-TERM LIABILITIES
Long-Term Debt $400.0K $700.0K
YoY Change -42.86% -22.22%
Other Long-Term Liabilities $6.200M $4.300M
YoY Change 44.19% 144.94%
Total Long-Term Liabilities $6.600M $5.000M
YoY Change 32.0% 90.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.10M $13.20M
Total Long-Term Liabilities $6.600M $5.000M
Total Liabilities $20.10M $17.60M
YoY Change 14.2% 34.31%
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 $74.50M $144.8M
YoY Change
Total Liabilities & Shareholders Equity $94.60M $162.4M
YoY Change -41.75% -19.86%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$20.82M -$28.68M
YoY Change -27.43% 105.73%
Depreciation, Depletion And Amortization $800.0K $400.0K
YoY Change 100.0% 1.07%
Cash From Operating Activities -$14.80M -$16.40M
YoY Change -9.76% 112.99%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$7.300M
YoY Change -98.63% 1360.0%
Acquisitions
YoY Change
Other Investing Activities $3.200M $16.10M
YoY Change -80.12% -160.98%
Cash From Investing Activities $3.100M $8.800M
YoY Change -64.77% -132.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -200.0K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -14.80M -16.40M
Cash From Investing Activities 3.100M 8.800M
Cash From Financing Activities -200.0K 0.000
Net Change In Cash -11.90M -7.600M
YoY Change 56.58% -109.16%
FREE CASH FLOW
Cash From Operating Activities -$14.80M -$16.40M
Capital Expenditures -$100.0K -$7.300M
Free Cash Flow -$14.70M -$9.100M
YoY Change 61.54% 26.39%

Facts In Submission

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<div> <p style="margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Concentration of Credit Risk&#8212;The Company maintains several bank accounts for its operations at two financial institutions. These accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per institution. Management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which these deposits are held. </p></div>
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