2016 Q2 Form 10-Q Financial Statement
#000114420416118960 Filed on August 15, 2016
Income Statement
| Concept | 2016 Q2 | 2015 Q2 |
|---|---|---|
| Revenue | $5.682M | $5.283M |
| YoY Change | 7.55% | -40.16% |
| Cost Of Revenue | $3.205M | $3.747M |
| YoY Change | -14.46% | -30.0% |
| Gross Profit | $2.477M | $1.536M |
| YoY Change | 61.26% | -55.8% |
| Gross Profit Margin | 43.59% | 29.07% |
| Selling, General & Admin | $1.548M | $1.800M |
| YoY Change | -14.0% | -15.61% |
| % of Gross Profit | 62.49% | 117.19% |
| Research & Development | $694.0K | $925.0K |
| YoY Change | -24.97% | -0.43% |
| % of Gross Profit | 28.02% | 60.22% |
| Depreciation & Amortization | $260.0K | $300.0K |
| YoY Change | -13.33% | -14.29% |
| % of Gross Profit | 10.5% | 19.53% |
| Operating Expenses | $2.242M | $2.724M |
| YoY Change | -17.69% | -11.04% |
| Operating Profit | $235.0K | -$1.188M |
| YoY Change | -119.78% | -387.65% |
| Interest Expense | -$90.00K | $74.00K |
| YoY Change | -221.62% | 12.12% |
| % of Operating Profit | -38.3% | |
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | $73.00K | -$1.262M |
| YoY Change | -105.78% | -463.69% |
| Income Tax | $0.00 | $0.00 |
| % Of Pretax Income | 0.0% | |
| Net Earnings | $73.00K | -$1.262M |
| YoY Change | -105.78% | -463.69% |
| Net Earnings / Revenue | 1.28% | -23.89% |
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | $0.01 | -$0.20 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 7.029M shares | 6.263M shares |
| Diluted Shares Outstanding | 7.036M shares | 6.263M shares |
Balance Sheet
| Concept | 2016 Q2 | 2015 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $310.0K | $30.00K |
| YoY Change | 933.33% | -40.0% |
| Cash & Equivalents | $307.0K | |
| Short-Term Investments | ||
| Other Short-Term Assets | $310.0K | $360.0K |
| YoY Change | -13.89% | -63.27% |
| Inventory | $5.480M | $8.520M |
| Prepaid Expenses | ||
| Receivables | $2.450M | $2.260M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $8.540M | $11.16M |
| YoY Change | -23.48% | -20.21% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $3.390M | $3.850M |
| YoY Change | -11.95% | -3.14% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $1.180M | $2.240M |
| YoY Change | -47.32% | 1466.43% |
| Total Long-Term Assets | $7.021M | $9.233M |
| YoY Change | -23.96% | -0.06% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $8.540M | $11.16M |
| Total Long-Term Assets | $7.021M | $9.233M |
| Total Assets | $15.56M | $20.39M |
| YoY Change | -23.69% | -12.2% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $870.0K | $1.700M |
| YoY Change | -48.82% | -26.72% |
| Accrued Expenses | $760.0K | $810.0K |
| YoY Change | -6.17% | 24.62% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $2.230M | $2.850M |
| YoY Change | -21.75% | 59.22% |
| Long-Term Debt Due | $3.490M | $3.740M |
| YoY Change | -6.68% | -5.79% |
| Total Short-Term Liabilities | $7.610M | $9.120M |
| YoY Change | -16.56% | 4.26% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $350.0K | $10.00K |
| YoY Change | 3400.0% | -86.84% |
| Other Long-Term Liabilities | $0.00 | |
| YoY Change | ||
| Total Long-Term Liabilities | $350.0K | $10.00K |
| YoY Change | 3400.0% | -86.84% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $7.610M | $9.120M |
| Total Long-Term Liabilities | $350.0K | $10.00K |
| Total Liabilities | $8.080M | $9.230M |
| YoY Change | -12.46% | 4.61% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | 1.071K shares | |
| Shareholders Equity | $7.480M | $11.17M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $15.56M | $20.39M |
| YoY Change | -23.69% | -12.2% |
Cashflow Statement
| Concept | 2016 Q2 | 2015 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $73.00K | -$1.262M |
| YoY Change | -105.78% | -463.69% |
| Depreciation, Depletion And Amortization | $260.0K | $300.0K |
| YoY Change | -13.33% | -14.29% |
| Cash From Operating Activities | $490.0K | -$670.0K |
| YoY Change | -173.13% | 6600.0% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $0.00 | $490.0K |
| YoY Change | -100.0% | -10.91% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | $0.00 | -$490.0K |
| YoY Change | -100.0% | -10.91% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -690.0K | 1.080M |
| YoY Change | -163.89% | 120.41% |
| NET CHANGE | ||
| Cash From Operating Activities | 490.0K | -670.0K |
| Cash From Investing Activities | 0.000 | -490.0K |
| Cash From Financing Activities | -690.0K | 1.080M |
| Net Change In Cash | -200.0K | -80.00K |
| YoY Change | 150.0% | 14.29% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $490.0K | -$670.0K |
| Capital Expenditures | $0.00 | $490.0K |
| Free Cash Flow | $490.0K | -$1.160M |
| YoY Change | -142.24% | 107.14% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2016Q2 | us-gaap |
Convertible Subordinated Debt Noncurrent
ConvertibleSubordinatedDebtNoncurrent
|
344000 | USD |
| CY2016Q2 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
249000 | USD |
| CY2015Q4 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
0 | USD |
| CY2015Q4 | us-gaap |
Convertible Subordinated Debt Noncurrent
ConvertibleSubordinatedDebtNoncurrent
|
100000 | USD |
| us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
10025000 | USD | |
| us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
11625000 | USD | |
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
7109000 | USD | |
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
6940000 | USD | |
| us-gaap |
Gross Profit
GrossProfit
|
2916000 | USD | |
| us-gaap |
Gross Profit
GrossProfit
|
4685000 | USD | |
| us-gaap |
Selling Expense
SellingExpense
|
1616000 | USD | |
| us-gaap |
Selling Expense
SellingExpense
|
1316000 | USD | |
| us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
123000 | USD | |
| us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
-436000 | USD | |
| us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
444000 | USD | |
| us-gaap |
Interest Expense
InterestExpense
|
0 | USD | |
| us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
0 | USD | |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2082000 | USD | |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1947000 | USD | |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1729000 | USD | |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1387000 | USD | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2511000 | USD | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
35000 | USD | |
| us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-166000 | USD | |
| us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-178000 | USD | |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2677000 | USD | |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-215000 | USD | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-2677000 | USD | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-215000 | USD | |
| CY2015Q2 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
5283000 | USD |
| CY2016Q2 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
5682000 | USD |
| CY2015Q2 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
3747000 | USD |
| CY2016Q2 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
3205000 | USD |
| CY2016Q2 | us-gaap |
Gross Profit
GrossProfit
|
2477000 | USD |
| CY2015Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
925000 | USD |
| CY2016Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
694000 | USD |
| CY2015Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-74000 | USD |
| CY2016Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-90000 | USD |
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-615000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-13000 | USD | |
| us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
141000 | USD | |
| us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
1578000 | USD | |
| us-gaap |
Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
|
0 | USD | |
| us-gaap |
Interest Expense
InterestExpense
|
21000 | USD | |
| us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
400000 | USD | |
| CY2016Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
4173000 | USD |
| CY2015Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
4820000 | USD |
| CY2016Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
1899000 | USD |
| CY2015Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
1732000 | USD |
| CY2016Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
4680000 | USD |
| CY2015Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
4913000 | USD |
| CY2016Q2 | us-gaap |
Inventory Lifo Reserve
InventoryLIFOReserve
|
4214000 | USD |
| CY2015Q4 | us-gaap |
Inventory Lifo Reserve
InventoryLIFOReserve
|
4426000 | USD |
| bdr |
Percentage Of Fifo Inventory Non Current For Finished Goods
PercentageOfFifoInventoryNonCurrentForFinishedGoods
|
0.58 | pure | |
| CY2015 | bdr |
Percentage Of Fifo Inventory Non Current For Finished Goods
PercentageOfFifoInventoryNonCurrentForFinishedGoods
|
0.73 | pure |
| CY2016Q2 | us-gaap |
Assets
Assets
|
15561000 | USD |
| CY2015Q4 | us-gaap |
Assets
Assets
|
16230000 | USD |
| CY2016Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
15561000 | USD |
| CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
16230000 | USD |
| CY2016Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
239000 | USD |
| CY2016Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2016Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000 | shares |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000 | shares |
| CY2016Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2016Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2016Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
25000 | shares |
| CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
25000 | shares |
| CY2016Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
8465 | shares |
| CY2016Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
7393 | shares |
| CY2016Q2 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1071 | shares |
| CY2015Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1699 | shares |
| us-gaap |
Operating Expenses
OperatingExpenses
|
4650000 | USD | |
| us-gaap |
Operating Expenses
OperatingExpenses
|
5427000 | USD | |
| CY2016Q2 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
-72000 | USD |
| CY2015Q2 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
0 | USD |
| us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
-72000 | USD | |
| us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
0 | USD | |
| CY2016Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.01 | |
| CY2015Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.20 | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.03 | ||
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.43 | ||
| CY2016Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7029000 | shares |
| CY2015Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
6263000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
6897000 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
6263000 | shares | |
| CY2016Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
7036000 | shares |
| CY2015Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
6263000 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
6897000 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
6263000 | shares | |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | USD | |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
15000 | USD | |
| us-gaap |
Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
|
249000 | USD | |
| us-gaap |
Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="WIDTH: 0in"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 0.5in"> <div style="CLEAR:both;CLEAR: both"><i>(b)</i></div> </td> <td style="TEXT-ALIGN: justify"> <div style="CLEAR:both;CLEAR: both"><i>Derivative Financial Instruments</i></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i> </i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Company evaluates its convertible instruments to determine if those contracts or embedded components of those contracts qualify as derivative financial instruments to be separately accounted for in accordance with Topic 815 of the Financial Accounting Standards Board (“<b>FASB</b>”) Accounting Standards Codification (<b>“ASC</b>”). The accounting treatment of derivative financial instruments requires that the Company record the embedded conversion option at its fair value as of the inception date of the agreement and at fair value as of each subsequent balance sheet date. Any change in fair value is recorded as non-operating, non-cash income or expense for each reporting period at each balance sheet date. The Company reassesses the classification of its derivative instruments at each balance sheet date. If the classification changes as a result of events during the period, the contract is reclassified as of the date of the event that caused the reclassification.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Binomial Lattice Model was used to estimate the fair value of the conversion options that is classified as a derivative liability on the condensed consolidated balance sheets. The model includes subjective input assumptions that can materially affect the fair value estimates. The expected volatility is estimated based on the most recent historical period of time equal to the weighted average life of the conversion options.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Conversion options are recorded as a discount to the host instrument and are amortized as interest expense over the life of the underlying instrument.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
| CY2015Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
239000 | USD |
| CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
8465 | shares |
| CY2015Q4 | us-gaap |
Inventory Gross
InventoryGross
|
11465000 | USD |
| CY2015Q4 | bdr |
Inventory Value Before Reserves
InventoryValueBeforeReserves
|
5870000 | USD |
| us-gaap |
Inventory Related Text
InventoryRelatedText
|
Inventories are stated at the lower of cost, determined by the first-in, first-out (FIFO) method, or market. | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="WIDTH: 0in"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 0.5in"> <div style="CLEAR:both;CLEAR: both"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>(a)</i></div> </td> <td style="TEXT-ALIGN: justify"> <div style="CLEAR:both;CLEAR: both"><i>Use of Estimates</i></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and 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.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
| CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
6766 | shares |
| us-gaap |
Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
|
Prime plus 1.75% |
