2014 Q2 Form 10-Q Financial Statement

#000107258814000055 Filed on May 22, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $137.2K $164.1K
YoY Change -16.38% 1.25%
Cost Of Revenue $21.89K $20.60K
YoY Change 6.27% -3.96%
Gross Profit $115.3K $143.5K
YoY Change -19.63% 2.05%
Gross Profit Margin 84.05% 87.45%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $191.0K $233.3K
YoY Change -18.12% -2.32%
Operating Profit -$75.71K -$89.82K
YoY Change -15.71% -8.58%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$137.00
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$75.84K -$89.82K
YoY Change -15.56% -8.15%
Net Earnings / Revenue -55.28% -54.74%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 98.88M shares 98.88M shares 98.88M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $255.00 $34.61K $27.79K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $262.8K $81.57K $83.46K
YoY Change 328.82% -2.26%
LONG-TERM ASSETS
Property, Plant & Equipment $190.5K $225.1K $351.3K
YoY Change -40.04% -35.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $242.2K $402.6K
YoY Change -100.0% -39.83%
TOTAL ASSETS
Total Short-Term Assets $262.8K $81.57K $83.46K
Total Long-Term Assets $0.00 $242.2K $402.6K
Total Assets $262.8K $323.8K $486.0K
YoY Change -37.68% -33.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $125.1K $121.6K $91.69K
YoY Change 25.65% 32.62%
Accrued Expenses $25.04K $18.14K $4.529K
YoY Change 371.81% 300.44%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.836M $1.846M $1.606M
YoY Change 11.38% 14.97%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.836M $1.846M $1.606M
Total Long-Term Liabilities
Total Liabilities $1.836M $1.846M $1.606M
YoY Change 11.38% 14.97%
SHAREHOLDERS EQUITY
Retained Earnings -$2.568M -$2.516M -$2.115M
YoY Change 15.6% 18.94%
Common Stock $988.8K $988.8K $988.8K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.573M -$1.522M -$1.120M
YoY Change
Total Liabilities & Shareholders Equity $262.8K $323.8K $486.0K
YoY Change -37.68% -33.37%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$75.84K -$89.82K
YoY Change -15.56% -8.15%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Use Of Estimates
UseOfEstimates
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> Use&nbsp;of&nbsp;Estimates</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> &nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> The&nbsp;&nbsp;preparation&nbsp;&nbsp;of&nbsp;the&nbsp;&nbsp;financial&nbsp;&nbsp;statements&nbsp;in&nbsp;&nbsp;conformity&nbsp;&nbsp;with&nbsp;&nbsp;accounting</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> principles&nbsp;&nbsp;&nbsp;generally&nbsp;&nbsp;accepted&nbsp;&nbsp;in&nbsp;&nbsp;the&nbsp;&nbsp;United&nbsp;&nbsp;States&nbsp;&nbsp;of&nbsp;&nbsp;America&nbsp;&nbsp;requires</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> management&nbsp;to&nbsp;make&nbsp;estimates&nbsp;and&nbsp;assumptions&nbsp;that&nbsp;affect&nbsp;the&nbsp;reported&nbsp;amounts&nbsp;of</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> assets&nbsp;and&nbsp;&nbsp;liabilities&nbsp;&nbsp;and&nbsp;disclosure&nbsp;of&nbsp;contingent&nbsp;&nbsp;assets&nbsp;and&nbsp;liabilities&nbsp;at</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> the&nbsp;date&nbsp;of&nbsp;the&nbsp;financial&nbsp;&nbsp;statements&nbsp;&nbsp;and&nbsp;the&nbsp;reported&nbsp;&nbsp;amounts&nbsp;of&nbsp;revenues&nbsp;and</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> expenses&nbsp;&nbsp;during&nbsp;the&nbsp;reporting&nbsp;&nbsp;periods.&nbsp;&nbsp;Actual&nbsp;results&nbsp;could&nbsp;differ&nbsp;from&nbsp;those</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> estimates.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> &nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> Judgments&nbsp;and&nbsp;estimates&nbsp;of&nbsp;uncertainties&nbsp;&nbsp;are&nbsp;required&nbsp;in&nbsp;applying&nbsp;the&nbsp;Company&#39;s</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> accounting&nbsp;&nbsp;policies&nbsp;&nbsp;in&nbsp;&nbsp;certain&nbsp;&nbsp;areas.&nbsp;&nbsp;The&nbsp;&nbsp;following&nbsp;&nbsp;are&nbsp;some&nbsp;of&nbsp;the&nbsp;areas</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> requiring&nbsp;&nbsp;significant&nbsp;&nbsp;judgments&nbsp;&nbsp;and&nbsp;&nbsp;estimates:&nbsp;&nbsp;a)&nbsp;&nbsp;Going&nbsp;&nbsp;concern;&nbsp;&nbsp;and&nbsp;&nbsp;b)</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> Depreciable&nbsp;life&nbsp;for&nbsp;property,&nbsp;&nbsp;plant&nbsp;and&nbsp;equipment&nbsp;and&nbsp;intangible&nbsp;&nbsp;assets.&nbsp;&nbsp;The</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> relevant&nbsp;&nbsp;amounts&nbsp;could&nbsp;be&nbsp;adjusted&nbsp;in&nbsp;the&nbsp;near&nbsp;term&nbsp;if&nbsp;experience&nbsp;&nbsp;differs&nbsp;from</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Courier New; MARGIN: 0in 0in 0pt"> current&nbsp;estimates.</p> <!--EndFragment--></div> </div>
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98879655 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98879655 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98879655 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98879655 shares

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