2017 Q2 Form 10-Q Financial Statement

#000143774917014745 Filed on August 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $886.9K $415.8K
YoY Change 113.29% -81.7%
Cost Of Revenue $796.0K $136.5K
YoY Change 483.16% -6.12%
Gross Profit $90.92K $279.3K
YoY Change -67.45% -86.87%
Gross Profit Margin 10.25% 67.18%
Selling, General & Admin $1.431M $1.039M
YoY Change 37.76% 6.03%
% of Gross Profit 1574.14% 371.94%
Research & Development $449.0K $566.4K
YoY Change -20.73% 43.77%
% of Gross Profit 493.89% 202.79%
Depreciation & Amortization $410.0K $20.00K
YoY Change 1950.0% 0.0%
% of Gross Profit 450.95% 7.16%
Operating Expenses $1.880M $1.605M
YoY Change 17.12% 16.85%
Operating Profit -$1.789M -$1.326M
YoY Change 34.94% -275.97%
Interest Expense $0.00 -$50.00K
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net $8.00 -$49.46K
YoY Change -100.02% 12142.82%
Pretax Income -$1.790M -$1.380M
YoY Change 29.71% -284.0%
Income Tax
% Of Pretax Income
Net Earnings -$1.789M -$2.539M
YoY Change -29.52% -437.08%
Net Earnings / Revenue -201.76% -610.54%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.238M -$2.000M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $990.0K $2.010M
YoY Change -50.75% 617.86%
Cash & Equivalents $988.3K $2.007M
Short-Term Investments
Other Short-Term Assets $29.46K $2.323K
YoY Change 1168.27% -96.68%
Inventory $567.2K $480.0K
Prepaid Expenses
Receivables $847.9K $2.299M
Other Receivables $30.00K $0.00
Total Short-Term Assets $4.736M $9.881M
YoY Change -52.07% 303.29%
LONG-TERM ASSETS
Property, Plant & Equipment $153.5K $91.08K
YoY Change 68.56% 13.85%
Goodwill
YoY Change
Intangibles $166.7K $140.9K
YoY Change 18.31%
Long-Term Investments
YoY Change
Other Assets $10.00K $10.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $10.65M $7.241M
YoY Change 47.11% 2916.97%
TOTAL ASSETS
Total Short-Term Assets $4.736M $9.881M
Total Long-Term Assets $10.65M $7.241M
Total Assets $15.39M $17.12M
YoY Change -10.12% 536.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $333.6K $696.4K
YoY Change -52.09% -19.95%
Accrued Expenses $421.4K $350.8K
YoY Change 20.1% -20.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.975M $1.720M
YoY Change 14.84% -11.36%
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 $1.975M $1.720M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.975M $1.720M
YoY Change 14.84% -11.36%
SHAREHOLDERS EQUITY
Retained Earnings -$65.95M -$61.15M
YoY Change 7.84%
Common Stock $649.00 $6.634K
YoY Change -90.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.41M $15.40M
YoY Change
Total Liabilities & Shareholders Equity $15.39M $17.12M
YoY Change -10.12% 536.48%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$1.789M -$2.539M
YoY Change -29.52% -437.08%
Depreciation, Depletion And Amortization $410.0K $20.00K
YoY Change 1950.0% 0.0%
Cash From Operating Activities -$970.0K -$1.240M
YoY Change -21.77% -12500.0%
INVESTING ACTIVITIES
Capital Expenditures -$130.0K -$30.00K
YoY Change 333.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$130.0K -$30.00K
YoY Change 333.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 930.0K -200.0K
YoY Change -565.0% 566.67%
NET CHANGE
Cash From Operating Activities -970.0K -1.240M
Cash From Investing Activities -130.0K -30.00K
Cash From Financing Activities 930.0K -200.0K
Net Change In Cash -170.0K -1.470M
YoY Change -88.44% 7250.0%
FREE CASH FLOW
Cash From Operating Activities -$970.0K -$1.240M
Capital Expenditures -$130.0K -$30.00K
Free Cash Flow -$840.0K -$1.210M
YoY Change -30.58% -12200.0%

Facts In Submission

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CY2016Q2 us-gaap Preferred Stock Dividends Income Statement Impact
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200625
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
401250
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
401250
CY2016Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
401250
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
206677
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
203113
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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="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: 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 <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> effect on the reported net loss.</div></div></div></div></div></div>
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1000000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
153529
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
67814
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
500000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
449049
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
566448
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
942493
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1055849
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-65946670
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-62801154
CY2017Q2 us-gaap Revenues
Revenues
886881
CY2016Q2 us-gaap Revenues
Revenues
415814
us-gaap Revenues
Revenues
2305216
us-gaap Revenues
Revenues
846406
CY2017Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
134061
CY2016Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
220926
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
454648
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
505652
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
15452888
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6359974
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5523072
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6228197
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1431208
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1038904
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3051358
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2031429
us-gaap Share Based Compensation
ShareBasedCompensation
564275
us-gaap Share Based Compensation
ShareBasedCompensation
184299
us-gaap Stock Issued1
StockIssued1
114585
us-gaap Stock Issued1
StockIssued1
CY2017Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
61667
CY2017Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
156584
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
13413031
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5516726
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5516726

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