2014 Form 10-K Financial Statement

#000107258814000102 Filed on October 07, 2014

View on sec.gov

Income Statement

Concept 2014 2013 Q2 2013
Revenue $669.7K
YoY Change 16.15%
Cost Of Revenue $82.62K $80.59K
YoY Change 2.52% 3.08%
Gross Profit $529.8K $589.2K
YoY Change -10.07% 18.2%
Gross Profit Margin 87.97%
Selling, General & Admin $60.00K $830.0K
YoY Change -92.77% 7.79%
% of Gross Profit 11.32% 140.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $138.2K $152.4K
YoY Change -9.34% 1.45%
% of Gross Profit 26.08% 25.87%
Operating Expenses $877.3K $1.068M
YoY Change -17.9% -3.23%
Operating Profit -$347.5K -$479.3K
YoY Change -27.51% -20.86%
Interest Expense $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $834.00
YoY Change
Pretax Income -$60.00K -$480.0K
YoY Change -87.5% -20.0%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$346.6K -$479.3K
YoY Change -27.69% -20.69%
Net Earnings / Revenue -71.57%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 98.88M shares 98.88M shares 98.88M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 2013 Q2 2013
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00
YoY Change -100.0%
Cash & Equivalents $0.00 $315.00 $0.00
Short-Term Investments
Other Short-Term Assets $260.0K $60.00K
YoY Change 333.33% 0.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $260.0K $61.29K $60.00K
YoY Change 333.33% -7.9% -14.29%
LONG-TERM ASSETS
Property, Plant & Equipment $317.8K $320.0K
YoY Change -31.49% -30.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $360.5K $360.0K
YoY Change -100.0% -39.43% -38.98%
TOTAL ASSETS
Total Short-Term Assets $260.0K $61.29K $60.00K
Total Long-Term Assets $0.00 $360.5K $360.0K
Total Assets $260.0K $421.8K $420.0K
YoY Change -38.1% -36.26% -36.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $120.0K $99.56K $100.0K
YoY Change 20.0% 58.32% 66.67%
Accrued Expenses $5.307K $10.00K
YoY Change 49.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $450.0K
YoY Change -100.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.840M $1.649M $1.650M
YoY Change 11.52% 16.93% 17.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.840M $1.649M $1.650M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.840M $1.649M $1.650M
YoY Change 11.52% 16.93% 17.02%
SHAREHOLDERS EQUITY
Retained Earnings -$2.221M
YoY Change 27.52%
Common Stock $988.8K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.570M -$1.227M -$1.230M
YoY Change
Total Liabilities & Shareholders Equity $260.0K $421.8K $420.0K
YoY Change -38.1% -36.26% -36.36%

Cashflow Statement

Concept 2014 2013 Q2 2013
OPERATING ACTIVITIES
Net Income -$346.6K -$479.3K
YoY Change -27.69% -20.69%
Depreciation, Depletion And Amortization $138.2K $152.4K
YoY Change -9.34% 1.45%
Cash From Operating Activities -$80.64K -$195.8K
YoY Change -58.81% -56.22%
INVESTING ACTIVITIES
Capital Expenditures $11.56K $6.352K
YoY Change 82.02% 1630.79%
Acquisitions
YoY Change
Other Investing Activities -$10.00K
YoY Change
Cash From Investing Activities -$11.56K -$6.352K
YoY Change 82.02% 1630.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $101.8K $195.7K
YoY Change -47.97% -54.63%
NET CHANGE
Cash From Operating Activities -$80.64K -$195.8K
Cash From Investing Activities -$11.56K -$6.352K
Cash From Financing Activities $101.8K $195.7K
Net Change In Cash $9.627K -$6.415K
YoY Change -250.07% -60.45%
FREE CASH FLOW
Cash From Operating Activities -$80.64K -$195.8K
Capital Expenditures $11.56K $6.352K
Free Cash Flow -$92.20K -$202.1K
YoY Change -54.39% -54.84%

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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"><p style=" margin: 0pt; text-align: justify; font-family : Times New Roman;"><font style=" font-family : Times New Roman; font-size: 11pt; font-style: italic;">Use of Estimates</font></p> <p style=" margin: 0pt; text-align: justify; font-family : Times New Roman;">&#160;</p> <p style=" margin: 0pt; text-align: justify; font-family : Times New Roman;"><font style=" font-family : Times New Roman; font-size: 11pt;">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.&#160; Actual results could differ from those estimates.</font></p> <p style=" margin: 0pt; text-align: justify; font-family : Times New Roman;">&#160;</p> <p style=" margin: 0pt; text-align: justify; font-family : Times New Roman;"><font style=" font-family : Times New Roman; font-size: 11pt;">Judgments and estimates of uncertainties are required in applying the Company's accounting policies in certain areas. The following are some of the areas requiring significant judgments and estimates: a) Going concern; and b) Depreciable life for property, plant and equipment and intangible assets. The relevant amounts could be adjusted in the near term if experience differs from current estimates.</font></p> <p style=" margin: 0pt; text-align: justify; font-family : Times New Roman;">&#160;</p> </div>
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Files In Submission

Name View Source Status
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