2016 Q4 Form 10-Q Financial Statement
#000114420416133936 Filed on November 14, 2016
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 |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2016Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
645514 | USD | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
965489 | USD | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-645514 | USD | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-965489 | USD | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-726937 | USD | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1043309 | USD | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
7460497 | shares | |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
77820 | USD | |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
77820 | USD | |
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Preferred Stock Dividends And Other Adjustments
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|
77820 | USD | |
us-gaap |
Preferred Stock Dividends And Other Adjustments
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|
77820 | USD | |
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Weighted Average Number Of Share Outstanding Basic And Diluted
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|
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Earnings Per Share Available To Common Stockholders Basic And Diluted
EarningsPerShareAvailableToCommonStockholdersBasicAndDiluted
|
-0.07 | ||
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Earnings Per Share Available To Common Stockholders Basic And Diluted
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|
-0.14 | ||
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General And Administrative Expense
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General And Administrative Expense
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Operating Income Loss
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Operating Income Loss
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Net Income Loss
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Net Income Loss
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Net Income Loss
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|
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Preferred Stock Dividends Income Statement Impact
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|
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Preferred Stock Dividends Income Statement Impact
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Net Income Loss Available To Common Stockholders Basic
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Earnings Per Share Available To Common Stockholders Basic And Diluted
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|
-0.04 | |
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Income Loss From Continuing Operations Per Basic And Diluted Share
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Earnings Per Share Basic And Diluted
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Net Cash Provided By Used In Operating Activities Continuing Operations
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Increase Decrease In Accounts Payable And Accrued Liabilities
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Net Cash Provided By Used In Financing Activities Continuing Operations
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Cash And Cash Equivalents Period Increase Decrease
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Stockholders Equity
StockholdersEquity
|
93183 | USD |
bara |
Percentage Of Income Tax Examination Likelihood Of Tax Benefits Being Realized Upon Settlement
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|
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Working Capital
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Common Stock Dividends Shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
2.62 | |
CY2015 | bara |
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dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2016-09-30 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2016 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
Banyan Rail Services Inc. | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000764897 | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Smaller Reporting Company | ||
dei |
Trading Symbol
TradingSymbol
|
BARA | ||
CY2015Q3 | us-gaap |
Interest Expense
InterestExpense
|
0 | USD |
CY2016Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
10567235 | shares |
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Interest Payable Current
InterestPayableCurrent
|
3603 | USD |
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Interest Payable Current
InterestPayableCurrent
|
0 | USD |
CY2016Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
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|
0.01 | |
CY2016Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
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Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2016Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
10567235 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
10317379 | shares |
CY2016Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
5655 | shares |
CY2015Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
5655 | shares |
us-gaap |
Interest Expense
InterestExpense
|
3603 | USD | |
us-gaap |
Interest Expense
InterestExpense
|
0 | USD | |
CY2016Q3 | us-gaap |
Interest Expense
InterestExpense
|
3603 | USD |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
165000 | USD | |
us-gaap |
Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
|
165000 | USD | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<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.  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"> </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 “Company”) 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"> </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">  </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’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
BasisOfAccounting
|
<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.  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"> </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’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> | ||
CY2016Q3 | us-gaap |
Deposits Assets Current
DepositsAssetsCurrent
|
100000 | USD |
CY2015Q4 | us-gaap |
Deposits Assets Current
DepositsAssetsCurrent
|
0 | USD |
CY2016Q3 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
275000 | USD |
CY2015Q4 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
0 | USD |
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
100000 | USD | |
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
0 | USD | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
275000 | USD | |
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"> </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 |