2016 Q4 Form 10-Q Financial Statement

#000135010216000201 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $330.0K $452.7K $1.253M
YoY Change -86.19% -63.87% 10.23%
Cost Of Revenue $1.070M $1.330M $2.290M
YoY Change -65.71% -41.92%
Gross Profit -$750.0K -$880.0K -$1.040M
YoY Change 2.74% -15.38% -191.23%
Gross Profit Margin -227.27% -194.4% -83.0%
Selling, General & Admin $1.780M $2.576M $2.872M
YoY Change -43.13% -10.3% -27.05%
% of Gross Profit
Research & Development $1.500M $1.660M $1.732M
YoY Change -6.83% -4.13% -65.89%
% of Gross Profit
Depreciation & Amortization $420.0K $423.0K $1.392M
YoY Change -69.78% -69.61% -7.53%
% of Gross Profit
Operating Expenses $3.700M $4.237M $4.604M
YoY Change -39.64% -7.98% -48.93%
Operating Profit -$4.450M -$5.539M -$7.034M
YoY Change -35.13% -21.26% -10.67%
Interest Expense -$930.0K -$6.290M $1.020M
YoY Change -74.86% -716.67% -135.66%
% of Operating Profit
Other Income/Expense, Net $10.00K -$6.247M $921.0K
YoY Change -778.25% -132.15%
Pretax Income -$5.370M -$11.79M -$6.110M
YoY Change -49.15% 92.96% -50.12%
Income Tax
% Of Pretax Income
Net Earnings -$5.370M -$11.79M -$6.113M
YoY Change -49.15% 92.79% -50.09%
Net Earnings / Revenue -1627.27% -2603.62% -487.86%
Basic Earnings Per Share
Diluted Earnings Per Share -$59.67M -$147.4M -$2.160B
COMMON SHARES
Basic Shares Outstanding 214.9M shares 80.90M shares 2.831M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0K $100.0K $600.0K
YoY Change -66.67% -83.33% -40.0%
Cash & Equivalents $130.9K $92.59K $619.3K
Short-Term Investments
Other Short-Term Assets $1.000M $800.0K $1.100M
YoY Change -28.57% -27.27% -56.0%
Inventory $2.570M $3.459M $4.489M
Prepaid Expenses
Receivables $549.2K $240.3K $1.987M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.234M $4.619M $8.200M
YoY Change -46.99% -43.67% 17.17%
LONG-TERM ASSETS
Property, Plant & Equipment $5.656M $6.024M $10.47M
YoY Change -37.78% -42.48% -36.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $77.56K $86.50K $114.3K
YoY Change -26.35% -24.29% -48.3%
Total Long-Term Assets $7.381M $7.760M $12.11M
YoY Change -31.43% -35.93% -32.02%
TOTAL ASSETS
Total Short-Term Assets $4.234M $4.619M $8.200M
Total Long-Term Assets $7.381M $7.760M $12.11M
Total Assets $11.61M $12.38M $20.31M
YoY Change -38.05% -39.06% -18.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.902M $4.008M $2.176M
YoY Change 35.23% 84.15% 30.52%
Accrued Expenses $1.470M $1.953M $2.045M
YoY Change -14.25% -4.51% -19.7%
Deferred Revenue
YoY Change
Short-Term Debt $1.500M $0.00 $8.200M
YoY Change 15.38% -100.0%
Long-Term Debt Due $243.1K $393.5K $343.0K
YoY Change -30.28% 14.71% 15.39%
Total Short-Term Liabilities $18.10M $19.08M $14.19M
YoY Change 78.73% 34.51% 112.94%
LONG-TERM LIABILITIES
Long-Term Debt $5.282M $5.186M $5.525M
YoY Change -2.95% -6.14% -5.43%
Other Long-Term Liabilities $200.0K $200.0K $700.0K
YoY Change -66.67% -71.43% -36.36%
Total Long-Term Liabilities $5.282M $5.186M $5.525M
YoY Change -2.95% -6.14% -5.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.10M $19.08M $14.19M
Total Long-Term Liabilities $5.282M $5.186M $5.525M
Total Liabilities $23.38M $24.27M $19.71M
YoY Change 50.18% 23.12% 57.64%
SHAREHOLDERS EQUITY
Retained Earnings -$383.9M -$378.6M -$334.5M
YoY Change 11.26% 13.16%
Common Stock $55.42K $14.74K $7.164K
YoY Change 257.1% 105.71% 406.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$13.99M -$12.81M -$94.50K
YoY Change
Total Liabilities & Shareholders Equity $11.61M $12.38M $20.31M
YoY Change -38.05% -39.06% -18.15%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$5.370M -$11.79M -$6.113M
YoY Change -49.15% 92.79% -50.09%
Depreciation, Depletion And Amortization $420.0K $423.0K $1.392M
YoY Change -69.78% -69.61% -7.53%
Cash From Operating Activities -$3.310M -$2.990M -$5.050M
YoY Change 0.3% -40.79% -37.42%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$20.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $40.00K -$50.00K -$100.0K
YoY Change -69.23% -50.0% -61.54%
Cash From Investing Activities $30.00K -$70.00K -$90.00K
YoY Change -75.0% -22.22% -67.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.310M 3.030M 5.520M
YoY Change -20.81% -45.11% -31.09%
NET CHANGE
Cash From Operating Activities -3.310M -2.990M -5.050M
Cash From Investing Activities 30.00K -70.00K -90.00K
Cash From Financing Activities 3.310M 3.030M 5.520M
Net Change In Cash 30.00K -30.00K 380.0K
YoY Change -100.91% -107.89% -211.76%
FREE CASH FLOW
Cash From Operating Activities -$3.310M -$2.990M -$5.050M
Capital Expenditures -$10.00K -$20.00K $0.00
Free Cash Flow -$3.300M -$2.970M -$5.050M
YoY Change 0.0% -41.19% -37.27%

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CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-6246961 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-13296047 USD
CY2016Q3 us-gaap Notes Payable
NotesPayable
5600000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-7034246 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-20882697 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-5538950 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
300000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-20183331 USD
CY2015Q4 us-gaap Other Assets
OtherAssets
1672880 USD
CY2016Q3 us-gaap Other Assets
OtherAssets
1735376 USD
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
105313 USD
CY2016Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
86501 USD
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-94983 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-60294 USD
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
42789 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
75122 USD
us-gaap Paid In Kind Interest
PaidInKindInterest
1398874 USD
us-gaap Paid In Kind Interest
PaidInKindInterest
298149 USD
us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
450000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
416250 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
40000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
246337 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
152076 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
29194 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40262 USD
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1394780 USD
CY2016Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
827553 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
2000000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
2000000 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
1056147 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
4500000 USD
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
10405000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
9250000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
0 USD
us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
78000 USD
us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
-34834 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
37575736 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
37586077 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9091028 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6024342 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
77524 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
246116 USD
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
199256 USD
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
211648 USD
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1731670 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5102379 USD
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1660203 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5131969 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-345081794 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-378561171 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
1253056 USD
us-gaap Sales Revenue Net
SalesRevenueNet
4144919 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
452674 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1418219 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2872114 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9235606 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2576297 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8519993 USD
us-gaap Share Based Compensation
ShareBasedCompensation
689911 USD
us-gaap Share Based Compensation
ShareBasedCompensation
708776 USD
CY2015Q4 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
264000 USD
CY2016Q3 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
229166 USD
CY2006Q1 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
5140 shares
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
2578694 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
-12812230 USD
CY2016Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.05
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2830503 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2763991 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80896300 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35806147 shares

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