2019 Q4 Form 10-Q Financial Statement

#000143774919022829 Filed on November 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q4
Revenue $286.1K $296.3K $212.0K
YoY Change 34.98% 55.82% 5.98%
Cost Of Revenue $256.9K $159.2K $170.9K
YoY Change 50.29% 1.82% 13.96%
Gross Profit $29.17K $137.1K $41.01K
YoY Change -28.87% 305.51% -17.98%
Gross Profit Margin 10.2% 46.27% 19.35%
Selling, General & Admin $312.9K $353.3K $218.0K
YoY Change 43.52% 7.05% -45.5%
% of Gross Profit 1072.51% 257.64% 531.55%
Research & Development $27.14K $151.4K
YoY Change -15.8% 0.93%
% of Gross Profit 19.79% 369.18%
Depreciation & Amortization $4.010K $4.200K $2.510K
YoY Change 59.76% -58.0%
% of Gross Profit 13.75% 3.06% 6.12%
Operating Expenses $265.5K $384.6K $375.9K
YoY Change -29.37% 3.47% -31.65%
Operating Profit -$236.3K -$247.5K -$334.9K
YoY Change -29.43% -26.76% -33.02%
Interest Expense -$292.9K -$260.4K -$19.57K
YoY Change 1396.42% 2503.8%
% of Operating Profit
Other Income/Expense, Net -$1.298M $0.00
YoY Change
Pretax Income -$1.827M -$507.9K -$354.5K
YoY Change 415.52% 44.73% -29.11%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.827M -$507.9K -$354.5K
YoY Change 415.52% 44.73% -29.11%
Net Earnings / Revenue -638.74% -171.38% -167.24%
Basic Earnings Per Share -$0.07
Diluted Earnings Per Share -$231.5K -$65.21K -$46.18K
COMMON SHARES
Basic Shares Outstanding 7.883M 7.788M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.17K $35.11K $28.00K
YoY Change -24.39% -12.23% 180.0%
Cash & Equivalents $21.17K $35.10K $28.00K
Short-Term Investments $10.00
Other Short-Term Assets $144.4K $144.4K
YoY Change -37.24% -39.85%
Inventory
Prepaid Expenses $107.6K $107.6K
Receivables $5.745K $3.759K $3.719K
Other Receivables $0.00 $29.85K $0.00
Total Short-Term Assets $26.92K $213.1K $31.72K
YoY Change -15.14% -21.09% -87.31%
LONG-TERM ASSETS
Property, Plant & Equipment $126.3K $143.5K $33.82K
YoY Change 273.54% 258.73% 12.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $117.6K
YoY Change
Total Long-Term Assets $253.7K $143.5K $178.2K
YoY Change 42.41% 258.72% 493.89%
TOTAL ASSETS
Total Short-Term Assets $26.92K $213.1K $31.72K
Total Long-Term Assets $253.7K $143.5K $178.2K
Total Assets $280.6K $356.6K $209.9K
YoY Change 33.71% 15.02% -25.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $632.3K $559.5K $525.1K
YoY Change 20.4% -0.09% 41.93%
Accrued Expenses $128.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.040M $788.8K $393.9K
YoY Change 164.04% 258.54%
Long-Term Debt Due $1.040M
YoY Change
Total Short-Term Liabilities $3.552M $1.757M $1.356M
YoY Change 161.89% 39.44% 201.41%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $66.72K $77.98K
YoY Change
Total Long-Term Liabilities $66.72K $77.98K $0.00
YoY Change 679.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.552M $1.757M $1.356M
Total Long-Term Liabilities $66.72K $77.98K $0.00
Total Liabilities $3.619M $1.835M $1.356M
YoY Change 166.81% 45.63% 201.41%
SHAREHOLDERS EQUITY
Retained Earnings -$6.830M -$5.003M -$3.846M
YoY Change 77.56%
Common Stock $7.908K $7.883K $7.678K
YoY Change 3.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.338M -$1.478M -$1.146M
YoY Change
Total Liabilities & Shareholders Equity $280.6K $356.6K $209.9K
YoY Change 33.71% 15.02% -25.04%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income -$1.827M -$507.9K -$354.5K
YoY Change 415.52% 44.73% -29.11%
Depreciation, Depletion And Amortization $4.010K $4.200K $2.510K
YoY Change 59.76% -58.0%
Cash From Operating Activities -$53.07K -$201.7K -$282.3K
YoY Change -81.2% 18.64% 48.56%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$8.990K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$19.04K
YoY Change -195.2%
Cash From Investing Activities $41.23K -$19.04K -$28.99K
YoY Change -242.22% -195.2% -244.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.090K 164.0K 311.1K
YoY Change -100.67% 9.36% 1455.55%
NET CHANGE
Cash From Operating Activities -53.07K -201.7K -282.3K
Cash From Investing Activities 41.23K -19.04K -28.99K
Cash From Financing Activities -2.090K 164.0K 311.1K
Net Change In Cash -13.93K -56.68K -150.0
YoY Change 9186.67% -99.9%
FREE CASH FLOW
Cash From Operating Activities -$53.07K -$201.7K -$282.3K
Capital Expenditures $0.00 $0.00 -$8.990K
Free Cash Flow -$53.07K -$201.7K -$273.3K
YoY Change -80.58% 18.64% 43.83%

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CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
107646
CY2018Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
107646
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
473725
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
272547
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
22000
CY2019Q2 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
100000
CY2019Q2 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
50000
CY2019Q2 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
25000
CY2019Q2 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
100000
CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
175684
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
248015
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
11100
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
93442
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
122000
us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P3Y
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
225214
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
55505
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
134673
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
99071
CY2019Q3 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
27140
CY2018Q3 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
32234
us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
102489
us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
47034
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-5002609
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3846469
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
296332
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
190179
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
776489
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
480849
us-gaap Share Based Compensation
ShareBasedCompensation
0
us-gaap Share Based Compensation
ShareBasedCompensation
0
CY2019Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.95
CY2019Q3 us-gaap Short Term Investments
ShortTermInvestments
12
CY2018Q4 us-gaap Short Term Investments
ShortTermInvestments
us-gaap Stock Issued1
StockIssued1
128000
us-gaap Stock Issued1
StockIssued1
CY2019Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
51282
CY2019Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
25641
CY2019Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
12821
CY2019Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
51282
CY2019Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
12821
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
128000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
22000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
272547
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
-1478334
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
-1146467
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-171645
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
-947064
us-gaap Use Of Estimates
UseOfEstimates
<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="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="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><div style="display: inline; text-decoration: underline;">Use of Estimates</div><div style="display: inline; text-decoration: underline;"> </div>&#x2013; The Company&#x2019;s financial statement preparation requires that management make estimates and assumptions which affect the reporting of assets and liabilities and the related disclosure of contingent assets and liabilities in order to report these financial statements in conformity with GAAP.&nbsp;&nbsp;Actual results could differ from those estimates.</div></div></div></div></div></div></div></div></div></div></div>
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7788008
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7667942
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7701581
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7667096

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