2016 Q2 Form 10-Q Financial Statement

#000143774916037497 Filed on August 15, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $415.8K $2.273M
YoY Change -81.7% 468.2%
Cost Of Revenue $136.5K $145.4K
YoY Change -6.12% -9.13%
Gross Profit $279.3K $2.127M
YoY Change -86.87% 786.42%
Gross Profit Margin 67.18% 93.6%
Selling, General & Admin $1.039M $979.9K
YoY Change 6.03% 8.87%
% of Gross Profit 371.94% 46.06%
Research & Development $566.4K $394.0K
YoY Change 43.77% -16.17%
% of Gross Profit 202.79% 18.52%
Depreciation & Amortization $20.00K $20.00K
YoY Change 0.0% 0.0%
% of Gross Profit 7.16% 0.94%
Operating Expenses $1.605M $1.374M
YoY Change 16.85% 0.28%
Operating Profit -$1.326M $753.6K
YoY Change -275.97% -166.69%
Interest Expense -$50.00K $0.00
YoY Change -100.0%
% of Operating Profit 0.0%
Other Income/Expense, Net -$49.46K -$404.00
YoY Change 12142.82%
Pretax Income -$1.380M $750.0K
YoY Change -284.0% -172.82%
Income Tax
% Of Pretax Income
Net Earnings -$2.539M $753.1K
YoY Change -437.08% -173.12%
Net Earnings / Revenue -610.54% 33.14%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.000M $1.087M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.010M $280.0K
YoY Change 617.86% -46.15%
Cash & Equivalents $2.007M $282.4K
Short-Term Investments
Other Short-Term Assets $2.323K $70.00K
YoY Change -96.68% 0.0%
Inventory $480.0K $410.0K
Prepaid Expenses
Receivables $2.299M $130.0K
Other Receivables $0.00 $1.550M
Total Short-Term Assets $9.881M $2.450M
YoY Change 303.29% 140.2%
LONG-TERM ASSETS
Property, Plant & Equipment $91.08K $80.00K
YoY Change 13.85% -27.27%
Goodwill
YoY Change
Intangibles $140.9K
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.00K $10.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $7.241M $240.0K
YoY Change 2916.97% -17.24%
TOTAL ASSETS
Total Short-Term Assets $9.881M $2.450M
Total Long-Term Assets $7.241M $240.0K
Total Assets $17.12M $2.690M
YoY Change 536.48% 105.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $696.4K $870.0K
YoY Change -19.95% 148.57%
Accrued Expenses $350.8K $440.0K
YoY Change -20.27% 15.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.720M $1.940M
YoY Change -11.36% 56.45%
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 -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.720M $1.940M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.720M $1.940M
YoY Change -11.36% 25.97%
SHAREHOLDERS EQUITY
Retained Earnings -$61.15M
YoY Change
Common Stock $6.634K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.40M $760.0K
YoY Change
Total Liabilities & Shareholders Equity $17.12M $2.690M
YoY Change 536.48% 105.34%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$2.539M $753.1K
YoY Change -437.08% -173.12%
Depreciation, Depletion And Amortization $20.00K $20.00K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$1.240M $10.00K
YoY Change -12500.0% -114.29%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$30.00K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -200.0K -30.00K
YoY Change 566.67%
NET CHANGE
Cash From Operating Activities -1.240M 10.00K
Cash From Investing Activities -30.00K 0.000
Cash From Financing Activities -200.0K -30.00K
Net Change In Cash -1.470M -20.00K
YoY Change 7250.0% -75.0%
FREE CASH FLOW
Cash From Operating Activities -$1.240M $10.00K
Capital Expenditures -$30.00K $0.00
Free Cash Flow -$1.210M $10.00K
YoY Change -12200.0% -116.67%

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Reclassification</div></div></div><div style=" TEXT-ALIGN: justify; MARGIN: 0pt 7.2pt 0pt 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Reclassifications occurred to certain prior year amounts in order to conform to the current year classifications. The reclassifications have no effect on the reported net loss.</div></div></div></div></div>
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SellingGeneralAndAdministrativeExpense
1038904
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
979861
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2030517
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2020542
us-gaap Share Based Compensation
ShareBasedCompensation
184299
us-gaap Share Based Compensation
ShareBasedCompensation
222247
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
15401643
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
18149917
CY2016Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
153790
CY2015Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
104284
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66276050
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66001260
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66199903
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66001260

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