$BNET
BION ENVIRONMENTAL TECHNOLOGIES INC

2019 Q3 Form 10-Q Financial Statement

#000107997319000569 Filed on November 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $320.2K $452.1K $680.0K
YoY Change -52.91% 73.87% 119.35%
% of Gross Profit
Research & Development $123.3K $132.6K $169.7K
YoY Change -27.34% 121.07% 59.0%
% of Gross Profit
Depreciation & Amortization $347.00 $340.00 $436.00
YoY Change -20.41% 0.0%
% of Gross Profit
Operating Expenses $443.9K $585.0K $848.0K
YoY Change -47.66% 82.83% 102.25%
Operating Profit -$443.9K -$848.0K
YoY Change -47.66% 102.25%
Interest Expense $117.6K -$123.0K $92.50K
YoY Change 27.14% 53.73% -6.04%
% of Operating Profit
Other Income/Expense, Net -$117.6K $0.00 -$92.50K
YoY Change 27.14% -6.04%
Pretax Income -$561.5K -$708.0K -$940.0K
YoY Change -40.27% 183.21% 80.77%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$561.5K -$707.3K -$940.5K
YoY Change -40.3% 182.91% 81.66%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$20.42K -$25.99K -$36.63K
COMMON SHARES
Basic Shares Outstanding 27.41M 25.66M
Diluted Shares Outstanding 27.47M 25.66M

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $74.63K $41.34K $180.0K
YoY Change -58.54% 106.7%
Cash & Equivalents $74.63K $41.34K $176.4K
Short-Term Investments
Other Short-Term Assets $12.83K $9.010K $10.00K
YoY Change 28.3% -9.9%
Inventory
Prepaid Expenses $11.83K $8.005K $11.01K
Receivables
Other Receivables $1.000K $1.000K $1.000K
Total Short-Term Assets $87.46K $50.34K $188.4K
YoY Change -53.58% 65.12% 2363.41%
LONG-TERM ASSETS
Property, Plant & Equipment $2.269K $2.616K $1.012K
YoY Change 124.21% 80.66% -63.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.269K $2.616K $1.012K
YoY Change 124.21% 80.66% -63.28%
TOTAL ASSETS
Total Short-Term Assets $87.46K $50.34K $188.4K
Total Long-Term Assets $2.269K $2.616K $1.012K
Total Assets $89.73K $52.96K $189.4K
YoY Change -52.63% 65.82% 1720.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $790.1K $715.6K $640.0K
YoY Change 23.46% -0.62% -30.43%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $35.00K $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $9.374M $9.303M $9.090M
YoY Change 3.12% 3.03% 2.71%
Total Short-Term Liabilities $11.31M $10.93M $10.29M
YoY Change 9.91% 7.1% -15.95%
LONG-TERM LIABILITIES
Long-Term Debt $3.849M $3.801M $3.560M
YoY Change 8.12% 7.68% 6.27%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.849M $3.801M $3.560M
YoY Change 8.12% 7.68% 6.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.31M $10.93M $10.29M
Total Long-Term Liabilities $3.849M $3.801M $3.560M
Total Liabilities $15.16M $14.73M $13.85M
YoY Change 9.48% 7.29% -11.52%
SHAREHOLDERS EQUITY
Retained Earnings -$124.9M -$124.3M -$122.6M
YoY Change 1.86% 2.18% 2.88%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$15.12M -$14.72M -$13.71M
YoY Change
Total Liabilities & Shareholders Equity $89.73K $52.96K $189.4K
YoY Change -52.63% 65.82% 1720.64%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q3
OPERATING ACTIVITIES
Net Income -$561.5K -$707.3K -$940.5K
YoY Change -40.3% 182.91% 81.66%
Depreciation, Depletion And Amortization $347.00 $340.00 $436.00
YoY Change -20.41% 0.0%
Cash From Operating Activities -$151.2K -$201.8K -$223.7K
YoY Change -32.42% 124.26% 78.07%
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
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 184.5K 93.99K 378.1K
YoY Change -51.21% 34.27% 586.13%
NET CHANGE
Cash From Operating Activities -151.2K -201.8K -223.7K
Cash From Investing Activities 0.000
Cash From Financing Activities 184.5K 93.99K 378.1K
Net Change In Cash 33.29K -107.8K 154.4K
YoY Change -78.44% 439.2% -318.95%
FREE CASH FLOW
Cash From Operating Activities -$151.2K -$201.8K -$223.7K
Capital Expenditures $0.00
Free Cash Flow -$201.8K
YoY Change 124.26%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2018Q3 bnet Adjustment To Additional Paid In Capital Modification Ofoptions
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CY2019Q2 bnet Computers And Office Equipment Gross
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CY2019Q3 bnet Conversion Of Debt And Liabilities
ConversionOfDebtAndLiabilities
CY2018Q3 bnet Conversion Of Debt And Liabilities
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CY2019Q3 bnet Deferred Compensation Conversion Days
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CY2019Q3 bnet Interest Rate On Deferred Compensation
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CY2019Q2 bnet Loans Payable Current Including Accrued Interest And Late Charges
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CY2019Q3 bnet Loans Payable To Affiliates
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<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; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.</div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LOANS PAYABLE - AFFILIATES:</div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2019, </div>Dominic Bassani (&#x201c;Bassani&#x201d;), the Company&#x2019;s Chief Executive Officer, and Mark A. Smith (&#x201c;Smith&#x201d;), the Company&#x2019;s President, have loaned the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$20,000</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$15,000,</div> respectively, for working capital needs. The loans are non-interest bearing and will be repaid when there is adequate cash available to allow repayment. Subsequent to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2019, </div>Bassani was repaid the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$20,000</div> he had loaned the Company.</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"></div></div>
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CY2019Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
CY2019Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2019Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2019Q3 us-gaap Revenues
Revenues
CY2018Q3 us-gaap Revenues
Revenues
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
16350
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y328D
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y36D
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y328D
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
80500
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
CY2019Q3 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount Current
SharesSubjectToMandatoryRedemptionSettlementTermsAmountCurrent
33900
CY2019Q2 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount Current
SharesSubjectToMandatoryRedemptionSettlementTermsAmountCurrent
33400
CY2019Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2018Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
100000
CY2018Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
10952
CY2019Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
16350
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
-15119192
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
-14724006
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-13694938
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-13658104
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-14674598
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-15070289
CY2019Q3 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=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><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:0pt;text-align:justify;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In preparing the Company&#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>
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27466812
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25659730
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27466812
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25659730

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