2016 Q4 Form 10-Q Financial Statement

#000100190716000097 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $520.0K $1.006M $0.00
YoY Change -43.91% -100.0%
Cost Of Revenue $319.0K $731.0K $0.00
YoY Change -49.53% -100.0%
Gross Profit $201.0K $275.0K $0.00
YoY Change -31.86% -100.0%
Gross Profit Margin 38.65% 27.34%
Selling, General & Admin $1.636M $2.548M $2.286M
YoY Change -2.09% 11.46% 16.63%
% of Gross Profit 813.93% 926.55%
Research & Development $1.254M $1.292M $1.264M
YoY Change -5.43% 2.22% 82.66%
% of Gross Profit 623.88% 469.82%
Depreciation & Amortization $173.0K $171.0K $102.0K
YoY Change 23.57% 67.65% 20.0%
% of Gross Profit 86.07% 62.18%
Operating Expenses $2.890M $3.840M $3.550M
YoY Change -3.57% 8.17% 33.86%
Operating Profit -$2.689M -$3.565M -$3.550M
YoY Change -0.48% 0.42% 36.07%
Interest Expense $40.00K $100.0K $100.0K
YoY Change -55.56% 0.0% 900.0%
% of Operating Profit
Other Income/Expense, Net $35.00K $98.00K $99.00K
YoY Change -62.77% -1.01% 725.0%
Pretax Income -$2.654M -$3.467M -$3.500M
YoY Change 1.76% -0.94% 34.77%
Income Tax $0.00 $0.00 $2.000K
% Of Pretax Income
Net Earnings -$2.603M -$3.415M -$3.364M
YoY Change 3.05% 1.52% -114.45%
Net Earnings / Revenue -500.58% -339.46%
Basic Earnings Per Share -$0.17 -$0.16
Diluted Earnings Per Share -$631.1K -$828.1K -$811.6K
COMMON SHARES
Basic Shares Outstanding 21.18M shares 20.63M shares 20.71M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.10M $18.70M $22.50M
YoY Change -20.69% -16.89% -50.33%
Cash & Equivalents $4.932M $3.543M $1.356M
Short-Term Investments $11.20M $15.20M $21.20M
Other Short-Term Assets $500.0K $700.0K $600.0K
YoY Change 0.0% 16.67% -45.45%
Inventory $307.0K $349.0K $783.0K
Prepaid Expenses
Receivables $751.0K $1.018M $221.0K
Other Receivables $0.00 $0.00 $6.100M
Total Short-Term Assets $17.65M $20.71M $30.23M
YoY Change -37.6% -31.49% -35.26%
LONG-TERM ASSETS
Property, Plant & Equipment $3.289M $3.245M $3.631M
YoY Change -7.92% -10.63% 202.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.200M $3.500M $6.300M
YoY Change -44.83% -44.44%
Other Assets
YoY Change
Total Long-Term Assets $6.537M $6.790M $9.888M
YoY Change -30.01% -31.33% 35.45%
TOTAL ASSETS
Total Short-Term Assets $17.65M $20.71M $30.23M
Total Long-Term Assets $6.537M $6.790M $9.888M
Total Assets $24.19M $27.50M $40.12M
YoY Change -35.72% -31.45% -25.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $191.0K $266.0K $261.0K
YoY Change -53.3% 1.92% 30.5%
Accrued Expenses $1.735M $1.402M $1.501M
YoY Change 16.99% -6.6% 15.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.926M $1.668M $1.762M
YoY Change 1.8% -5.33% -32.23%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $63.00K $80.00K $146.0K
YoY Change -51.54% -45.21% 46.0%
Total Long-Term Liabilities $63.00K $80.00K $146.0K
YoY Change -51.54% -45.21% 46.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.926M $1.668M $1.762M
Total Long-Term Liabilities $63.00K $80.00K $146.0K
Total Liabilities $1.989M $1.748M $1.908M
YoY Change -1.63% -8.39% -29.33%
SHAREHOLDERS EQUITY
Retained Earnings -$165.1M -$162.5M -$149.4M
YoY Change 8.7% 8.8%
Common Stock $190.2M $190.1M $189.1M
YoY Change 0.54% 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.111M $3.136M $2.789M
YoY Change 47.4% 12.44%
Treasury Stock Shares 1.978M shares 1.376M shares 1.164M shares
Shareholders Equity $22.34M $25.85M $38.00M
YoY Change
Total Liabilities & Shareholders Equity $24.19M $27.50M $40.12M
YoY Change -35.72% -31.45% -25.7%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$2.603M -$3.415M -$3.364M
YoY Change 3.05% 1.52% -114.45%
Depreciation, Depletion And Amortization $173.0K $171.0K $102.0K
YoY Change 23.57% 67.65% 20.0%
Cash From Operating Activities -$1.660M -$3.116M -$4.338M
YoY Change -34.13% -28.17% 39.08%
INVESTING ACTIVITIES
Capital Expenditures -$220.0K $24.00K $638.0K
YoY Change 214.29% -96.24% 1286.96%
Acquisitions
YoY Change
Other Investing Activities $4.240M $2.590M $4.120M
YoY Change 25.44% -37.14% -92.17%
Cash From Investing Activities $4.020M $2.568M $3.481M
YoY Change 21.08% -26.23% -93.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -970.0K -$308.0K -$117.0K
YoY Change 163.25% -98.53%
NET CHANGE
Cash From Operating Activities -1.660M -$3.116M -$4.338M
Cash From Investing Activities 4.020M $2.568M $3.481M
Cash From Financing Activities -970.0K -$308.0K -$117.0K
Net Change In Cash 1.390M -$856.0K -$974.0K
YoY Change 73.75% -12.11% -102.35%
FREE CASH FLOW
Cash From Operating Activities -$1.660M -$3.116M -$4.338M
Capital Expenditures -$220.0K $24.00K $638.0K
Free Cash Flow -$1.440M -$3.140M -$4.976M
YoY Change -41.22% -36.9% 57.22%

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CY2016Q2 us-gaap Minority Interest Ownership Percentage By Parent
MinorityInterestOwnershipPercentageByParent
0.92
CY2016Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2568000 USD
CY2015Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4338000 USD
CY2016Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3116000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-3364000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-3415000 USD
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-89000 USD
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-52000 USD
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3364000 USD
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3415000 USD
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
99000 USD
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
98000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
41000 USD
CY2016Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 reportable_unit
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
3550000 USD
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
3840000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3550000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3565000 USD
CY2016Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24000 USD
CY2016Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2016Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3245000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
6000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
0 USD
CY2015Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-94000 USD
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
41000 USD
CY2016Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
96000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
80000 USD
CY2015Q3 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
117000 USD
CY2016Q3 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
308000 USD
CY2015Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
638000 USD
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
319000 USD
CY2016Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
450000 USD
CY2015Q3 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
1494000 USD
CY2016Q3 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
2592000 USD
CY2015Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
2625000 USD
CY2016Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
-3453000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
-3467000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3392000 USD
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1264000 USD
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1292000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-159117000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-162532000 USD
CY2015Q3 us-gaap Revenues
Revenues
0 USD
CY2016Q3 us-gaap Revenues
Revenues
1006000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2286000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2548000 USD
CY2015Q3 us-gaap Share Based Compensation
ShareBasedCompensation
143000 USD
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
862000 USD
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
4000000 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
3.20
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
220000000 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
957750000 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1173750000 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.18
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.27
CY2016Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
CY2016Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.67
CY2016Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
0.32
CY2016Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
3.20
CY2016Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1500000 USD
CY2016Q2 us-gaap Short Term Investments
ShortTermInvestments
17102000 USD
CY2016Q3 us-gaap Short Term Investments
ShortTermInvestments
15198000 USD
CY2016Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2016Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
0 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
28667000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
25847000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
28627000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
25755000 USD
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1183642 shares
CY2016Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1376039 shares
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
2828000 USD
CY2016Q3 us-gaap Treasury Stock Value
TreasuryStockValue
3136000 USD
CY2016Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
308000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
100000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 USD
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20705000 shares
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20630000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20705000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20630000 shares

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