$BASA
BASANITE, INC.

2013 Q4 Form 10-Q Financial Statement

#000155335013000917 Filed on November 14, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $0.00 $797.00 $10.09K
YoY Change -100.0% -92.1% 38.53%
Cost Of Revenue
YoY Change
Gross Profit $797.00
YoY Change
Gross Profit Margin 100.0%
Selling, General & Admin $150.0K $55.57K $180.0K
YoY Change -50.0% -69.13% -75.68%
% of Gross Profit 6972.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $2.371K $2.369K
YoY Change 0.08% 1.37%
% of Gross Profit 297.49%
Operating Expenses $150.0K $380.6K $175.1K
YoY Change -50.0% 117.39% -76.29%
Operating Profit -$379.8K -$165.0K
YoY Change 130.21% -77.44%
Interest Expense -$200.0K $185.4K $8.314K
YoY Change 150.0% 2130.5%
% of Operating Profit
Other Income/Expense, Net -$185.4K -$8.314K
YoY Change 2130.5%
Pretax Income -$350.0K -$565.2K -$173.3K
YoY Change -5.41% 226.18% -76.3%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$350.0K -$565.2K -$173.3K
YoY Change -5.41% 226.18% -76.3%
Net Earnings / Revenue -70918.95% -1717.07%
Basic Earnings Per Share
Diluted Earnings Per Share -$62.61K -$102.3K -$246.4K
COMMON SHARES
Basic Shares Outstanding 5.573M shares 5.573M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash & Equivalents $3.061K $251.00
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.061K $251.00
YoY Change -85.22%
LONG-TERM ASSETS
Property, Plant & Equipment $2.616K $4.729K $14.21K
YoY Change -77.9% -66.71% -28.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $30.00K $30.00K $0.00
YoY Change
Total Long-Term Assets $34.02K $36.14K $18.50K
YoY Change 110.97% 95.37% -38.35%
TOTAL ASSETS
Total Short-Term Assets $3.061K $251.00
Total Long-Term Assets $34.02K $36.14K $18.50K
Total Assets $37.08K $36.39K $18.50K
YoY Change 0.67% 96.73% -89.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $188.0K $219.5K $57.66K
YoY Change 313.06% 280.61% 476.58%
Accrued Expenses $422.9K $333.6K $227.4K
YoY Change 83.48% 46.7% 657.97%
Deferred Revenue
YoY Change
Short-Term Debt $10.00K $0.00 $220.0K
YoY Change 0.0% -100.0%
Long-Term Debt Due $670.0K $480.0K
YoY Change 2133.33%
Total Short-Term Liabilities $1.287M $1.035M $511.5K
YoY Change 309.66% 102.27% 1178.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.287M $1.035M $511.5K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.290M $1.030M $510.0K
YoY Change 316.13% 101.96% 1175.0%
SHAREHOLDERS EQUITY
Retained Earnings -$5.909M -$5.555M -$3.103M
YoY Change 69.99% 78.99%
Common Stock $5.573K $5.573K $47.32K
YoY Change 407.1% -88.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.250M -$998.3K -$493.0K
YoY Change
Total Liabilities & Shareholders Equity $37.08K $36.39K $18.50K
YoY Change 0.67% 96.73% -89.12%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$350.0K -$565.2K -$173.3K
YoY Change -5.41% 226.18% -76.3%
Depreciation, Depletion And Amortization $0.00 $2.371K $2.369K
YoY Change 0.08% 1.37%
Cash From Operating Activities -$100.0K -$150.0K -$120.0K
YoY Change -47.37% 25.0% -36.84%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
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 100.0K 130.0K 120.0K
YoY Change -50.0% 8.33% -53.85%
NET CHANGE
Cash From Operating Activities -100.0K -150.0K -120.0K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 100.0K 130.0K 120.0K
Net Change In Cash 0.000 -20.00K 0.000
YoY Change -100.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$100.0K -$150.0K -$120.0K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$100.0K -$150.0K -$120.0K
YoY Change -47.37% 25.0% -36.84%

Facts In Submission

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TechnologyServicesCosts
359585 USD
us-gaap Technology Services Costs
TechnologyServicesCosts
741370 USD
CY2013Q3 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
8764 USD
us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
20367 USD
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="MARGIN-BOTTOM: 7px; MARGIN-TOP: 0px"><strong><em>(B) Use of Estimates in Financial Statements</em></strong></p> <p style="MARGIN-BOTTOM: 7px; MARGIN-TOP: 0px; TEXT-INDENT: 52px"> The presentation of 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&nbsp;liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates during the period covered by these financial statements include the valuation of website costs, valuation of deferred tax asset, stock based compensation and any beneficial conversion features on convertible debt.</p> <!--EndFragment--></div> </div>
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5572688 shares
CY2012Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
685161 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4049581 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
662440 shares

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