2016 Q4 Form 10-Q Financial Statement

#000114420416133936 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $210.0K $340.0K $680.0K
YoY Change 50.0% -50.0% 1033.33%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $210.0K $340.0K $680.0K
YoY Change 50.0% -50.0% 1033.33%
Operating Profit -$337.8K -$675.0K
YoY Change -49.96% 1016.1%
Interest Expense -$10.00K $3.603K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$220.0K -$340.0K -$680.0K
YoY Change 57.14% -50.0% 897.86%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$220.0K -$341.4K -$675.0K
YoY Change 57.14% -49.43% 890.53%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$211.5K -$323.8K -$693.9K
COMMON SHARES
Basic Shares Outstanding 10.57M shares 10.35M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.00K $460.0K
YoY Change -86.96% 4500.0%
Cash & Equivalents $450.00 $60.01K $458.4K
Short-Term Investments
Other Short-Term Assets $140.0K $100.0K $10.00K
YoY Change 1300.0% 900.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $142.2K $160.0K $466.4K
YoY Change -57.71% -65.69% 7915.17%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $142.2K $160.0K $466.4K
Total Long-Term Assets $0.00 $0.00
Total Assets $142.2K $160.0K $466.4K
YoY Change -57.71% -65.69% 7915.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.04K $50.00K $32.45K
YoY Change 46.65% 54.11% -61.94%
Accrued Expenses $0.00 $40.00K $1.320K
YoY Change 2930.3%
Deferred Revenue
YoY Change
Short-Term Debt $470.0K $280.0K $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $896.8K $670.0K $287.5K
YoY Change 190.54% 133.04% -57.72%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $896.8K $670.0K $287.5K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $896.8K $670.0K $287.5K
YoY Change 190.54% 133.04% -57.98%
SHAREHOLDERS EQUITY
Retained Earnings -$110.5M -$109.5M
YoY Change 0.8% 11.84%
Common Stock $10.57K $102.4K
YoY Change -89.76% 813.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $70.69K $70.69K
YoY Change 0.0% 0.0%
Treasury Stock Shares $566.00 5.655K shares 5.655K shares
Shareholders Equity -$754.6K -$510.0K $178.9K
YoY Change
Total Liabilities & Shareholders Equity $142.2K $160.0K $466.4K
YoY Change -57.71% -65.69% 7915.17%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$220.0K -$341.4K -$675.0K
YoY Change 57.14% -49.43% 890.53%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$250.0K -$270.0K -$120.0K
YoY Change 78.57% 125.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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 180.0K 280.0K 90.00K
YoY Change 1700.0% 211.11%
NET CHANGE
Cash From Operating Activities -250.0K -270.0K -120.0K
Cash From Investing Activities
Cash From Financing Activities 180.0K 280.0K 90.00K
Net Change In Cash -70.00K 10.00K -30.00K
YoY Change -46.15% -133.33%
FREE CASH FLOW
Cash From Operating Activities -$250.0K -$270.0K -$120.0K
Capital Expenditures
Free Cash Flow
YoY Change

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dei Document Fiscal Period Focus
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dei Entity Registrant Name
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Banyan Rail Services Inc.
dei Entity Central Index Key
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dei Current Fiscal Year End Date
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">Note 1.&#160;&#160;Nature of Operations</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Banyan Rail Services, Inc. (the &#8220;Company&#8221;) was originally organized under the laws of the Commonwealth of Massachusetts in 1985, under the name VMS Hotel Investment Trust, for the purpose of investing in mortgage loans, principally to entities affiliated with VMS Realty Partners. The Company was subsequently reorganized as a Delaware corporation in 1987 and changed its name to B.H.I.T. Inc. In 2010, the Company changed its name from B.H.I.T. Inc. to Banyan Rail Services Inc. From 2009 to 2012, the Company operated and experienced severe losses from an operating subsidiary in the rail services sector and is now a shell company.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Company is actively seeking acquisitions of leading companies within the transportation and medical office real estate industries throughout North America.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt"> &#160;</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt">Liquidity and Going Concern (See Note 4)</font></b> <font style="FONT-SIZE: 10pt">The Company&#8217;s ability to continue on a going-concern basis is dependent upon, among other things, raising capital and finding an operating business to acquire, and other factors, many of which are beyond our control.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Basis Of Accounting
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><b><font style="FONT-SIZE: 10pt">Note 2.&#160;&#160;Basis of Presentation</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">The unaudited condensed financial statements and notes included in this Quarterly Report on Form 10-Q should be read in conjunction with the financial statements and notes thereto in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2015. The interim condensed consolidated financial information herein is unaudited. The information reflects all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations for the periods included in this report.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><u><font style="FONT-SIZE: 10pt">Use of Estimates</font></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements, in conformity with accounting principles generally accepted in the United States, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures 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.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure
CY2015Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
103750 shares
CY2016Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
250000 USD
CY2016Q3 us-gaap Customer Advances And Deposits Current
CustomerAdvancesAndDepositsCurrent
100000 USD
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD

Files In Submission

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0001144204-16-133936-index-headers.html Edgar Link pending
0001144204-16-133936-index.html Edgar Link pending
0001144204-16-133936.txt Edgar Link pending
0001144204-16-133936-xbrl.zip Edgar Link pending
bara-20160930.xml Edgar Link completed
bara-20160930.xsd Edgar Link pending
bara-20160930_cal.xml Edgar Link unprocessable
bara-20160930_def.xml Edgar Link unprocessable
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bara-20160930_pre.xml Edgar Link unprocessable
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