2020 Q3 Form 10-K Financial Statement

#000107997320000805 Filed on September 22, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 2019 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $302.9K $3.090M $452.1K
YoY Change -5.42% 79.15% 73.87%
% of Gross Profit
Research & Development $90.99K $1.124M $132.6K
YoY Change -26.22% 372.64% 121.07%
% of Gross Profit
Depreciation & Amortization $207.00 $1.248K $340.00
YoY Change -40.35% 79.83%
% of Gross Profit
Operating Expenses $394.1K $4.215M $585.0K
YoY Change -11.23% 345.43% 82.83%
Operating Profit -$4.215M
YoY Change 345.43%
Interest Expense -$104.3K $466.9K -$123.0K
YoY Change -188.72% 79.34% 53.73%
% of Operating Profit
Other Income/Expense, Net -$338.5K $0.00
YoY Change 30.01%
Pretax Income -$498.4K -$4.553M -$708.0K
YoY Change -11.24% 71.23% 183.21%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$498.4K -$4.553M -$707.3K
YoY Change -11.24% 71.24% 182.91%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$16.17K -$156.6K -$25.99K
COMMON SHARES
Basic Shares Outstanding 30.82M
Diluted Shares Outstanding 30.79M 29.03M

Balance Sheet

Concept 2020 Q3 2020 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $336.1K $560.8K $41.34K
YoY Change 350.37% 1256.63% 106.7%
Cash & Equivalents $336.1K $41.34K
Short-Term Investments
Other Short-Term Assets $17.90K $8.970K $9.010K
YoY Change 39.52% -0.44% -9.9%
Inventory
Prepaid Expenses $16.90K $8.005K
Receivables
Other Receivables $1.000K
Total Short-Term Assets $354.0K $569.8K $50.34K
YoY Change 304.76% 1031.88% 65.12%
LONG-TERM ASSETS
Property, Plant & Equipment $1.161K $1.370K $2.616K
YoY Change -48.83% -47.71% 80.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.161K $1.370K $2.616K
YoY Change -48.83% -47.71% 80.66%
TOTAL ASSETS
Total Short-Term Assets $354.0K $569.8K $50.34K
Total Long-Term Assets $1.161K $1.370K $2.616K
Total Assets $355.2K $571.2K $52.96K
YoY Change 295.82% 978.47% 65.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $648.7K $628.9K $715.6K
YoY Change -17.9% -12.11% -0.62%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $9.678M $9.601M $9.303M
YoY Change 3.24% 3.2% 3.03%
Total Short-Term Liabilities $11.21M $11.04M $10.93M
YoY Change -0.87% 1.07% 7.1%
LONG-TERM LIABILITIES
Long-Term Debt $4.646M $4.616M $3.801M
YoY Change 20.7% 21.43% 7.68%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.646M $4.616M $3.801M
YoY Change 20.7% 21.43% 7.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.21M $11.04M $10.93M
Total Long-Term Liabilities $4.646M $4.616M $3.801M
Total Liabilities $15.86M $15.70M $14.73M
YoY Change 4.61% 6.25% 7.29%
SHAREHOLDERS EQUITY
Retained Earnings -$129.4M -$124.3M
YoY Change 3.59% 2.18%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$15.54M -$15.13M -$14.72M
YoY Change
Total Liabilities & Shareholders Equity $355.2K $571.2K $52.96K
YoY Change 295.82% 978.47% 65.82%

Cashflow Statement

Concept 2020 Q3 2020 2019 Q2
OPERATING ACTIVITIES
Net Income -$498.4K -$4.553M -$707.3K
YoY Change -11.24% 71.24% 182.91%
Depreciation, Depletion And Amortization $207.00 $1.248K $340.00
YoY Change -40.35% 79.83%
Cash From Operating Activities -$247.2K -$966.4K -$201.8K
YoY Change 63.54% 19.15% 124.26%
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 22.50K 1.486M 93.99K
YoY Change -87.8% 78.4% 34.27%
NET CHANGE
Cash From Operating Activities -247.2K -966.4K -201.8K
Cash From Investing Activities 0.000
Cash From Financing Activities 22.50K 1.486M 93.99K
Net Change In Cash -224.7K 519.5K -107.8K
YoY Change -774.98% 2588.61% 439.2%
FREE CASH FLOW
Cash From Operating Activities -$247.2K -$966.4K -$201.8K
Capital Expenditures $0.00
Free Cash Flow -$247.2K -$966.4K -$201.8K
YoY Change 18.78% 124.26%

Facts In Submission

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CY2019 us-gaap Interest Paid Net
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CY2020Q2 us-gaap Liabilities
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CY2019Q2 us-gaap Liabilities
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CY2020Q2 us-gaap Liabilities And Stockholders Equity
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CY2019Q2 us-gaap Liabilities And Stockholders Equity
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CY2020Q2 us-gaap Minority Interest
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CY2019Q2 us-gaap Minority Interest
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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NetCashProvidedByUsedInInvestingActivities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2020 us-gaap Nonoperating Income Expense
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CY2020 us-gaap Operating Expenses
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CY2019 us-gaap Operating Expenses
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CY2020 us-gaap Operating Income Loss
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CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2020Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
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CY2020 us-gaap Other Noncash Expense
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CY2019 us-gaap Other Noncash Expense
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CY2020 us-gaap Other Nonoperating Income
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CY2019 us-gaap Other Nonoperating Income
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CY2020 us-gaap Payments Of Stock Issuance Costs
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CY2019 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2020 us-gaap Proceeds From Issuance Of Unsecured Debt
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CY2019 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
CY2020 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
1584000
CY2019 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
897000
CY2020 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
35000
CY2019 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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ProfitLoss
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CY2019 us-gaap Profit Loss
ProfitLoss
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CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.74
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2797385
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1368
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2616
CY2020 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
20000
CY2019 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1123836
CY2019 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-128891893
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2020 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
CY2019 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
1.26
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
2589134
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
721084
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
9511600
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.74
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
70625
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
110000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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655000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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2210000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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0.19
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
20375
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6827225
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7411600
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9511600
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.11
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.08
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.69
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.74
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.72
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y182D
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
CY2020Q2 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
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y292D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y36D
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y182D
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
429200
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
236100
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
2210000
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0.19
CY2020Q2 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount Current
SharesSubjectToMandatoryRedemptionSettlementTermsAmountCurrent
35400
CY2019Q2 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount Current
SharesSubjectToMandatoryRedemptionSettlementTermsAmountCurrent
33400
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2019 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
100000
CY2020 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
71658
CY2019 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
93408
CY2020 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q2 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
14933
CY2019Q2 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
CY2020Q2 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
19919
CY2019Q2 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
CY2020 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=" 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'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></div></div></div></div></div></div>
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29031106
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26522326
CY2020 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
29031106
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26522326

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