2020 Q1 Form 10-Q Financial Statement
#000143774920014079 Filed on June 29, 2020
Income Statement
Concept | 2020 Q1 | 2019 Q1 |
---|---|---|
Revenue | $415.3K | $226.3K |
YoY Change | 83.46% | 61.68% |
Cost Of Revenue | $170.4K | $161.3K |
YoY Change | 5.6% | -5.11% |
Gross Profit | $244.9K | $65.03K |
YoY Change | 276.59% | -425.16% |
Gross Profit Margin | 58.98% | 28.73% |
Selling, General & Admin | $437.8K | $297.2K |
YoY Change | 47.29% | 56.43% |
% of Gross Profit | 178.76% | 457.05% |
Research & Development | $34.33K | $21.98K |
YoY Change | 56.21% | -209.89% |
% of Gross Profit | 14.02% | 33.8% |
Depreciation & Amortization | $3.491K | $5.233K |
YoY Change | -33.29% | |
% of Gross Profit | 1.43% | 8.05% |
Operating Expenses | $475.6K | $255.1K |
YoY Change | 86.44% | 50.06% |
Operating Profit | -$230.7K | -$190.1K |
YoY Change | 21.39% | 0.03% |
Interest Expense | $516.1K | -$18.44K |
YoY Change | -2898.64% | |
% of Operating Profit | ||
Other Income/Expense, Net | -$242.5K | |
YoY Change | ||
Pretax Income | $42.83K | -$208.5K |
YoY Change | -120.54% | 4.25% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | $42.83K | -$208.5K |
YoY Change | -120.54% | 4.25% |
Net Earnings / Revenue | 10.31% | -92.12% |
Basic Earnings Per Share | $0.01 | -$0.03 |
Diluted Earnings Per Share | $0.00 | |
COMMON SHARES | ||
Basic Shares Outstanding | 7.943M | 7.691M |
Diluted Shares Outstanding | 13.56M |
Balance Sheet
Concept | 2020 Q1 | 2019 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $74.97K | $24.65K |
YoY Change | 204.14% | -69.19% |
Cash & Equivalents | $74.97K | |
Short-Term Investments | ||
Other Short-Term Assets | $144.4K | |
YoY Change | -39.85% | |
Inventory | ||
Prepaid Expenses | ||
Receivables | $3.879K | $6.720K |
Other Receivables | $1.870K | $0.00 |
Total Short-Term Assets | $80.72K | $175.7K |
YoY Change | -54.06% | -45.09% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $110.2K | $181.2K |
YoY Change | -39.17% | 504.07% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $117.6K | |
YoY Change | ||
Total Long-Term Assets | $227.8K | $181.2K |
YoY Change | 25.71% | 504.07% |
TOTAL ASSETS | ||
Total Short-Term Assets | $80.72K | $175.7K |
Total Long-Term Assets | $227.8K | $181.2K |
Total Assets | $308.5K | $356.9K |
YoY Change | -13.56% | 1.98% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $639.6K | $604.0K |
YoY Change | 5.89% | 67.78% |
Accrued Expenses | $136.5K | $182.8K |
YoY Change | -25.36% | |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $1.108M | $463.2K |
YoY Change | 139.16% | 1443.97% |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $3.448M | $1.594M |
YoY Change | 116.32% | 121.38% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $55.95K | $108.0K |
YoY Change | -48.18% | |
Total Long-Term Liabilities | $55.95K | $108.0K |
YoY Change | -48.18% | |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $3.448M | $1.594M |
Total Long-Term Liabilities | $55.95K | $108.0K |
Total Liabilities | $3.504M | $1.702M |
YoY Change | 105.89% | 136.38% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$6.787M | |
YoY Change | ||
Common Stock | $7.958K | |
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$3.195M | -$1.345M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $308.5K | $356.9K |
YoY Change | -13.56% | 1.98% |
Cashflow Statement
Concept | 2020 Q1 | 2019 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $42.83K | -$208.5K |
YoY Change | -120.54% | 4.25% |
Depreciation, Depletion And Amortization | $3.491K | $5.233K |
YoY Change | -33.29% | |
Cash From Operating Activities | -$40.28K | -$105.1K |
YoY Change | -61.68% | -250.13% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $0.00 | |
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | $0.00 | |
YoY Change | ||
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $0.00 | |
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 94.07K | 101.7K |
YoY Change | -7.54% | 917.43% |
NET CHANGE | ||
Cash From Operating Activities | -40.28K | -105.1K |
Cash From Investing Activities | 0.000 | |
Cash From Financing Activities | 94.07K | 101.7K |
Net Change In Cash | 53.80K | -3.351K |
YoY Change | -1705.43% | -104.19% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$40.28K | -$105.1K |
Capital Expenditures | $0.00 | |
Free Cash Flow | -$40.28K | -$105.1K |
YoY Change | -61.68% | -250.13% |
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0.001 | |
CY2019Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2020Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | |
CY2019Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | |
CY2020Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2019Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2020Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2019Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2020Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2019Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2020Q1 | us-gaap |
Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
|
117568 | |
CY2019Q4 | us-gaap |
Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
|
117568 | |
CY2020Q1 | us-gaap |
Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
|
80868 | |
CY2019Q4 | us-gaap |
Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
|
80868 | |
CY2020Q1 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
100000 | |
CY2019Q1 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
||
CY2020Q1 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
127100 | |
CY2019Q1 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
88755 | |
CY2020Q1 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
5000 | |
CY2019Q1 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
61430 | |
CY2020Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
||
CY2019Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
||
CY2020Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
110980 | |
CY2019Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
29855 | |
CY2020Q1 | us-gaap |
Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
|
34331 | |
CY2019Q1 | us-gaap |
Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
|
21978 | |
CY2020Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-6787078 | |
CY2019Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-6829907 | |
CY2020Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
415251 | |
CY2019Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
226349 | |
CY2020Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
13549819 | |
CY2020Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
100000 | |
CY2019Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
||
CY2020Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
2 | |
CY2020Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
50000 | |
CY2019Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
||
CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3195470 | |
CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3338299 | |
CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1146467 | |
CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1344970 | |
CY2020Q1 | 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=" 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> - The Company’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. Actual results could differ from those estimates.</div></div></div></div></div></div> | |
CY2020Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7942846 | |
CY2019Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7690898 |