2016 Q3 Form 10-Q Financial Statement

#000143774916042096 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $431.5K $669.8K
YoY Change -35.59% -47.83%
Cost Of Revenue $171.8K $374.8K
YoY Change -54.17% 53.65%
Gross Profit $259.7K $295.0K
YoY Change -11.97% -71.63%
Gross Profit Margin 60.19% 44.04%
Selling, General & Admin $925.9K $1.014M
YoY Change -8.66% 2.45%
% of Gross Profit 356.57% 343.65%
Research & Development $528.6K $368.8K
YoY Change 43.32% 13.48%
% of Gross Profit 203.54% 125.01%
Depreciation & Amortization $20.00K $10.00K
YoY Change 100.0% 0.0%
% of Gross Profit 7.7% 3.39%
Operating Expenses $1.454M $1.383M
YoY Change 5.2% 5.18%
Operating Profit -$1.195M -$1.088M
YoY Change 9.86% 296.02%
Interest Expense $20.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net $60.39K $7.976K
YoY Change 657.16% -96.42%
Pretax Income -$1.130M -$1.080M
YoY Change 4.63% 2060.0%
Income Tax
% Of Pretax Income
Net Earnings -$1.134M -$1.080M
YoY Change 5.08% 1995.22%
Net Earnings / Revenue -262.92% -161.17%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.638M -$1.565M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $180.0K $70.00K
YoY Change 157.14% -58.82%
Cash & Equivalents $177.4K $72.23K
Short-Term Investments
Other Short-Term Assets $4.041K
YoY Change
Inventory $568.2K $150.7K
Prepaid Expenses
Receivables $364.4K $2.165M
Other Receivables $10.00K $0.00
Total Short-Term Assets $3.250M $2.426M
YoY Change 33.99% 166.59%
LONG-TERM ASSETS
Property, Plant & Equipment $79.09K $73.54K
YoY Change 7.55% -26.46%
Goodwill
YoY Change
Intangibles $137.5K $151.1K
YoY Change -9.0%
Long-Term Investments
YoY Change
Other Assets $10.00K $10.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $12.29M $233.4K
YoY Change 5167.96% -16.65%
TOTAL ASSETS
Total Short-Term Assets $3.250M $2.426M
Total Long-Term Assets $12.29M $233.4K
Total Assets $15.55M $2.659M
YoY Change 484.55% 123.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $550.8K $1.308M
YoY Change -57.89% 184.34%
Accrued Expenses $337.1K $432.8K
YoY Change -22.12% -9.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $180.0K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.330M $2.938M
YoY Change -54.74% 114.45%
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 $1.330M $2.938M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.330M $2.938M
YoY Change -54.74% 102.62%
SHAREHOLDERS EQUITY
Retained Earnings -$62.28M -$58.00M
YoY Change 7.38%
Common Stock $6.638K $6.607K
YoY Change 0.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.22M -$278.7K
YoY Change
Total Liabilities & Shareholders Equity $15.55M $2.659M
YoY Change 484.55% 123.47%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$1.134M -$1.080M
YoY Change 5.08% 1995.22%
Depreciation, Depletion And Amortization $20.00K $10.00K
YoY Change 100.0% 0.0%
Cash From Operating Activities -$1.620M -$460.0K
YoY Change 252.17% 31.43%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $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 -200.0K 250.0K
YoY Change -180.0%
NET CHANGE
Cash From Operating Activities -1.620M -460.0K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -200.0K 250.0K
Net Change In Cash -1.820M -210.0K
YoY Change 766.67% -40.0%
FREE CASH FLOW
Cash From Operating Activities -$1.620M -$460.0K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$1.620M -$460.0K
YoY Change 252.17% 31.43%

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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: left; 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: left; 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;">&nbsp;</div></div></div><div style=" TEXT-ALIGN: left; 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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ProceedsFromNotesPayable
250000
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79088
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
63877
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
528554
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
368788
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1584403
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1169427
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-62284576
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-58611450
CY2016Q3 us-gaap Revenues
Revenues
431463
CY2015Q3 us-gaap Revenues
Revenues
669846
us-gaap Revenues
Revenues
1277869
us-gaap Revenues
Revenues
3591475
CY2015Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
250191
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
692677
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
755813
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
925939
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1013778
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2956456
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3034318
us-gaap Share Based Compensation
ShareBasedCompensation
231983
us-gaap Share Based Compensation
ShareBasedCompensation
258297
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
14215479
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
18149917
CY2016Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1206
CY2015Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
104284
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66360445
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66038941
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66253808
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66013958

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