2018 Q1 Form 10-Q Financial Statement

#000100190718000015 Filed on February 12, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2016 Q4
Revenue $0.00 $41.00K $520.0K
YoY Change -100.0% -92.12% -43.91%
Cost Of Revenue $0.00 $24.00K $319.0K
YoY Change -100.0% -92.48% -49.53%
Gross Profit $0.00 $17.00K $201.0K
YoY Change -100.0% -91.54% -31.86%
Gross Profit Margin 41.46% 38.65%
Selling, General & Admin $1.360M $1.602M $1.636M
YoY Change -16.72% -2.08% -2.09%
% of Gross Profit 9423.53% 813.93%
Research & Development $1.500M $1.582M $1.254M
YoY Change -3.91% 26.16% -5.43%
% of Gross Profit 9305.88% 623.88%
Depreciation & Amortization $190.0K $184.0K $173.0K
YoY Change 6.15% 6.36% 23.57%
% of Gross Profit 1082.35% 86.07%
Operating Expenses $2.860M $3.184M $2.890M
YoY Change -10.46% 10.17% -3.57%
Operating Profit -$2.860M -$3.167M -$2.689M
YoY Change -2.85% 17.78% -0.48%
Interest Expense $0.00 $30.00K $40.00K
YoY Change -100.0% -25.0% -55.56%
% of Operating Profit
Other Income/Expense, Net $30.00K $35.00K
YoY Change -14.29% -62.77%
Pretax Income -$2.860M -$3.137M -$2.654M
YoY Change 0.53% 18.2% 1.76%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.855M -$3.137M -$2.603M
YoY Change 1.96% 20.51% 3.05%
Net Earnings / Revenue -7651.22% -500.58%
Basic Earnings Per Share
Diluted Earnings Per Share -$704.4K -$773.4K -$631.1K
COMMON SHARES
Basic Shares Outstanding 4.108M shares 4.506M shares 21.18M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.300M $7.900M $16.10M
YoY Change -58.82% -50.93% -20.69%
Cash & Equivalents $633.0K $633.0K $4.932M
Short-Term Investments $5.600M $7.300M $11.20M
Other Short-Term Assets $300.0K $300.0K $500.0K
YoY Change -40.0% -40.0% 0.0%
Inventory $9.000K $10.00K $307.0K
Prepaid Expenses
Receivables $4.000K $10.00K $751.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.600M $8.203M $17.65M
YoY Change -59.03% -53.52% -37.6%
LONG-TERM ASSETS
Property, Plant & Equipment $2.600M $2.808M $3.289M
YoY Change -22.48% -14.62% -7.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $100.0K $1.300M $3.200M
YoY Change -95.45% -59.38% -44.83%
Other Assets $100.0K $81.00K
YoY Change
Total Long-Term Assets $2.700M $4.144M $6.537M
YoY Change -51.26% -36.61% -30.01%
TOTAL ASSETS
Total Short-Term Assets $6.600M $8.203M $17.65M
Total Long-Term Assets $2.700M $4.144M $6.537M
Total Assets $9.300M $12.35M $24.19M
YoY Change -57.04% -48.95% -35.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $100.0K $285.0K $191.0K
YoY Change -63.37% 49.21% -53.3%
Accrued Expenses $406.0K $418.0K $1.735M
YoY Change -75.29% -75.91% 16.99%
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 $900.0K $1.254M $1.926M
YoY Change -53.08% -34.89% 1.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $228.0K $63.00K
YoY Change -29.08% 261.9% -51.54%
Total Long-Term Liabilities $200.0K $228.0K $63.00K
YoY Change -29.08% 261.9% -51.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $900.0K $1.254M $1.926M
Total Long-Term Liabilities $200.0K $228.0K $63.00K
Total Liabilities $1.100M $1.482M $1.989M
YoY Change -50.0% -25.49% -1.63%
SHAREHOLDERS EQUITY
Retained Earnings -$177.1M -$165.1M
YoY Change 7.22% 8.7%
Common Stock $190.5M $190.2M
YoY Change 0.15% 0.54%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.124M $4.111M
YoY Change 0.32% 47.4%
Treasury Stock Shares 397.9K shares 1.978M shares
Shareholders Equity $8.200M $10.87M $22.34M
YoY Change
Total Liabilities & Shareholders Equity $9.300M $12.35M $24.19M
YoY Change -57.04% -48.95% -35.72%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income -$2.855M -$3.137M -$2.603M
YoY Change 1.96% 20.51% 3.05%
Depreciation, Depletion And Amortization $190.0K $184.0K $173.0K
YoY Change 6.15% 6.36% 23.57%
Cash From Operating Activities -$2.790M -$2.380M -$1.660M
YoY Change 66.07% 43.37% -34.13%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$220.0K
YoY Change -100.0% -100.0% 214.29%
Acquisitions
YoY Change
Other Investing Activities $2.790M $2.930M $4.240M
YoY Change 92.41% -30.9% 25.44%
Cash From Investing Activities $2.790M $2.920M $4.020M
YoY Change 132.5% -27.36% 21.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 -970.0K
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -2.790M -2.380M -1.660M
Cash From Investing Activities 2.790M 2.920M 4.020M
Cash From Financing Activities 0.000 0.000 -970.0K
Net Change In Cash -0.0000000009313 540.0K 1.390M
YoY Change -100.0% -61.15% 73.75%
FREE CASH FLOW
Cash From Operating Activities -$2.790M -$2.380M -$1.660M
Capital Expenditures $0.00 $0.00 -$220.0K
Free Cash Flow -$2.790M -$2.380M -$1.440M
YoY Change 95.1% 65.28% -41.22%

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2 segment
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
2890000 USD
us-gaap Operating Expenses
OperatingExpenses
6730000 USD
CY2017Q4 us-gaap Operating Expenses
OperatingExpenses
3184000 USD
us-gaap Operating Expenses
OperatingExpenses
6260000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-2689000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-6254000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-3167000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-6243000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
0 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
81000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
60000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
60000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
33000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
34000 USD
CY2016Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-80000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-39000 USD
CY2017Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-36000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-35000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
256000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
228000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
1283000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
3000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
241000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14000 USD
CY2017Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2017Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Profit Loss
ProfitLoss
-6121000 USD
CY2017 us-gaap Profit Loss
ProfitLoss
-11600000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
269000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
272000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
3090000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
700000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
3744000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
3615000 USD
CY2016Q4 us-gaap Profit Loss
ProfitLoss
-2654000 USD
CY2017Q4 us-gaap Profit Loss
ProfitLoss
-3137000 USD
us-gaap Profit Loss
ProfitLoss
-6143000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3180000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2808000 USD
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1254000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2546000 USD
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1582000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3226000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-170913000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-177056000 USD
CY2016Q4 us-gaap Revenues
Revenues
520000 USD
us-gaap Revenues
Revenues
1526000 USD
CY2017Q4 us-gaap Revenues
Revenues
41000 USD
us-gaap Revenues
Revenues
41000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1636000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4184000 USD
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1602000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3034000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
954000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
242000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
5.30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
365000 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
363000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.07
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.07
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
1.6
CY2017Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
175814 shares
CY2017Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
363057 shares
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
16
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
30000 USD
CY2017Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
5.57
CY2017Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
6.07
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P6Y11M27D
CY2017Q2 us-gaap Short Term Investments
ShortTermInvestments
10900000 USD
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
7278000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
16770000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
10865000 USD
CY2017Q4 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.20
CY2017Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
2000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
2000 USD
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
397228 shares
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
397935 shares
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
4121000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
4124000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 USD
CY2016Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4124000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4125000 shares
CY2017Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4060000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4059000 shares

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