$BNET
BION ENVIRONMENTAL TECHNOLOGIES INC

2017 Q2 Form 10-K Financial Statement

#000107997317000560 Filed on September 26, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2 2016
Revenue $0.00 $0.00 $3.658K
YoY Change 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $300.0K $260.0K $1.816M
YoY Change 15.38% -42.22% -23.53%
% of Gross Profit
Research & Development $100.0K $70.00K $348.6K
YoY Change 42.86% -50.0% -33.03%
% of Gross Profit
Depreciation & Amortization $0.00 $70.00K $293.6K
YoY Change -100.0% -53.33% -52.95%
% of Gross Profit
Operating Expenses $410.0K $400.0K $4.143M
YoY Change 2.5% -45.95% -21.38%
Operating Profit -$4.139M
YoY Change -21.39%
Interest Expense -$100.0K -$90.00K $382.7K
YoY Change 11.11% -10.0% 1.86%
% of Operating Profit
Other Income/Expense, Net -$382.7K
YoY Change 2.4%
Pretax Income -$500.0K -$2.170M -$4.522M
YoY Change -76.96% -16.22% -19.82%
Income Tax
% Of Pretax Income
Net Earnings -$500.0K -$2.170M -$4.518M
YoY Change -76.96% -16.22% -19.75%
Net Earnings / Revenue -123521.95%
Basic Earnings Per Share
Diluted Earnings Per Share -$21.17K -$93.45K -$198.7K
COMMON SHARES
Basic Shares Outstanding 22.75M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2016 Q2 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.00K $170.0K $170.2K
YoY Change -58.82% -50.0% -49.84%
Cash & Equivalents $72.93K $170.2K
Short-Term Investments
Other Short-Term Assets $10.00K $20.00K $16.24K
YoY Change -50.0% -33.33% -36.59%
Inventory
Prepaid Expenses $6.426K $15.24K
Receivables $7.500K
Other Receivables $1.980K $1.000K
Total Short-Term Assets $81.34K $193.9K $193.9K
YoY Change -58.06% -48.7% -48.7%
LONG-TERM ASSETS
Property, Plant & Equipment $3.192K $4.259K $4.260K
YoY Change -25.05% -99.78% -99.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.192K $4.259K $4.260K
YoY Change -25.05% -99.78% -99.78%
TOTAL ASSETS
Total Short-Term Assets $81.34K $193.9K $193.9K
Total Long-Term Assets $3.192K $4.259K $4.260K
Total Assets $84.53K $198.2K $198.2K
YoY Change -57.35% -91.59% -91.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $870.0K $770.0K $768.3K
YoY Change 12.99% -42.96% -43.22%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $90.00K $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $8.800M $8.560M $8.564M
YoY Change 2.8% 10.45% 10.44%
Total Short-Term Liabilities $11.89M $10.80M $10.80M
YoY Change 10.11% 3.37% 3.37%
LONG-TERM LIABILITIES
Long-Term Debt $3.320M $3.280M $3.281M
YoY Change 1.22% 23.77% 23.58%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.320M $3.280M $3.281M
YoY Change 1.22% 23.77% 23.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.89M $10.80M $10.80M
Total Long-Term Liabilities $3.320M $3.280M $3.281M
Total Liabilities $15.20M $14.08M $14.14M
YoY Change 8.01% 7.46% 7.4%
SHAREHOLDERS EQUITY
Retained Earnings -$118.7M -$116.2M
YoY Change 2.12% 4.05%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$15.18M -$13.94M -$13.94M
YoY Change
Total Liabilities & Shareholders Equity $84.53K $198.2K $198.2K
YoY Change -57.35% -91.59% -91.59%

Cashflow Statement

Concept 2017 Q2 2016 Q2 2016
OPERATING ACTIVITIES
Net Income -$500.0K -$2.170M -$4.518M
YoY Change -76.96% -16.22% -19.75%
Depreciation, Depletion And Amortization $0.00 $70.00K $293.6K
YoY Change -100.0% -53.33% -52.95%
Cash From Operating Activities -$120.0K -$200.0K -$900.0K
YoY Change -40.0% -16.67% 11.11%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $5.179K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$5.179K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 150.0K 320.0K 736.1K
YoY Change -53.13% 357.14% -23.57%
NET CHANGE
Cash From Operating Activities -120.0K -200.0K -900.0K
Cash From Investing Activities 0.000 0.000 -5.179K
Cash From Financing Activities 150.0K 320.0K 736.1K
Net Change In Cash 30.00K 120.0K -169.1K
YoY Change -75.0% -170.59% -210.42%
FREE CASH FLOW
Cash From Operating Activities -$120.0K -$200.0K -$900.0K
Capital Expenditures $0.00 $0.00 $5.179K
Free Cash Flow -$120.0K -$200.0K -$905.2K
YoY Change -40.0% -16.67% 11.75%

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=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">Concentrations of credit risk:</div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">The Company's financial instruments that are exposed to concentrations of credit risk consist of cash. The Company's cash is in demand deposit accounts placed with federally insured financial institutions and selected brokerage accounts. Such deposit accounts at times <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>exceed federally insured limits. The Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> experienced any losses on such accounts.</div></div></div>
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ProceedsFromIssuanceOfCommonStock
CY2017 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
452000
CY2016 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
761000
CY2017 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
CY2016 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
387522
CY2017 us-gaap Profit Loss
ProfitLoss
-2462887
CY2016 us-gaap Profit Loss
ProfitLoss
-4522067
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2795753
CY2016Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2797453
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3192
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4259
CY2017 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
425983
CY2016 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
348559
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-118676966
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-116216493
CY2017 us-gaap Revenues
Revenues
CY2016 us-gaap Revenues
Revenues
3658
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
398250
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
158675
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
530795
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
370661
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4520037
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.42
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
288333
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
319500
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
100000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.46
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
176575
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4413870
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4225537
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4545037
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.88
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.45
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.42
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
2.90
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.92
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.97
CY2017Q2 us-gaap Share Price
SharePrice
0.75
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
176575
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y328D
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
50000
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
25000
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.76
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.46
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y36D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y36D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y328D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
173520
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
97000
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
344500
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0.50
CY2016 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
242034
CY2017 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
205499
CY2017 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
30467
CY2016 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
286093
CY2017 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
277570
CY2016 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
228558
CY2017 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
158636
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
22850
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
-15176614
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
-13938129
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-10743553
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-13878383
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-15119282
CY2017Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2017 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2017 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=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">Use of estimates:</div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">In preparing the Company<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">&#x2019;s consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</div></div></div></div>
CY2017 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23459931
CY2016 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22745281
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23459931
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22745281

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