$BRST
Broad Street Realty, Inc.

2016 Q4 Form 10-K Financial Statement

#000114420417018149 Filed on March 31, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2016 2015 Q4
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 $859.4K $140.0K
YoY Change 50.0% -22.19% -97.91%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit
Operating Expenses $210.0K $859.4K $140.0K
YoY Change 50.0% -22.19% -97.91%
Operating Profit -$859.4K
YoY Change -22.19%
Interest Expense -$10.00K $13.21K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$220.0K -$872.6K -$140.0K
YoY Change 57.14% -20.99% -98.68%
Income Tax
% Of Pretax Income
Net Earnings -$220.0K -$872.6K -$140.0K
YoY Change 57.14% -20.99% -98.68%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$211.5K -$839.9K -$135.9K
COMMON SHARES
Basic Shares Outstanding 10.57M shares 10.24M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $330.0K
YoY Change -17.5%
Cash & Equivalents $450.00 $327.4K
Short-Term Investments
Other Short-Term Assets $140.0K $31.70K $10.00K
YoY Change 1300.0% 262.29%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $142.2K $31.70K $336.1K
YoY Change -57.71% -90.57% -16.47%
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 $110.0K $0.00
YoY Change -404.46%
TOTAL ASSETS
Total Short-Term Assets $142.2K $31.70K $336.1K
Total Long-Term Assets $110.0K $0.00
Total Assets $142.2K $141.7K $336.1K
YoY Change -57.71% -52.77% -16.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.04K $95.94K $42.30K
YoY Change 46.65% 126.81% 24.81%
Accrued Expenses $0.00 $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $470.0K $471.8K $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $896.8K $896.8K $308.7K
YoY Change 190.54% 1556.43% -0.18%
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 $896.8K $308.7K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $896.8K $896.8K $308.7K
YoY Change 190.54% 1556.43% -0.18%
SHAREHOLDERS EQUITY
Retained Earnings -$110.5M -$109.7M
YoY Change 0.8% 1.02%
Common Stock $10.57K $103.2K
YoY Change -89.76% 559.98%
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
Shareholders Equity -$754.6K -$754.6K $27.48K
YoY Change
Total Liabilities & Shareholders Equity $142.2K $142.2K $336.1K
YoY Change -57.71% -52.62% -16.47%

Cashflow Statement

Concept 2016 Q4 2016 2015 Q4
OPERATING ACTIVITIES
Net Income -$220.0K -$872.6K -$140.0K
YoY Change 57.14% -20.99% -98.68%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$250.0K -$688.8K -$140.0K
YoY Change 78.57% 14.12% 7.69%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$110.0K
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 180.0K 471.8K 10.00K
YoY Change 1700.0% -10.72% -98.11%
NET CHANGE
Cash From Operating Activities -250.0K -688.8K -140.0K
Cash From Investing Activities -110.0K
Cash From Financing Activities 180.0K 471.8K 10.00K
Net Change In Cash -70.00K -326.9K -130.0K
YoY Change -46.15% 335.8% -132.5%
FREE CASH FLOW
Cash From Operating Activities -$250.0K -$688.8K -$140.0K
Capital Expenditures
Free Cash Flow -$688.8K
YoY Change

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CY2016 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;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">Note 2.&#160;&#160;Principles of Consolidation and Basis of Presentation</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt">Principles of Consolidation</font></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <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 consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All inter-company accounts have been eliminated in consolidation.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt">Basis of Presentation</font></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <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 accompanying consolidated financial statements give effect to all adjustments necessary to present fairly the financial position and results of operations and cash flows of the Company and its subsidiaries.</font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016 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" align="justify"></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"> <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 to acquire active businesses within a variety of industries throughout North America.</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"><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 a going-concern basis is dependent upon, among other things, raising capital, 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>
CY2015 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
0 USD
CY2016 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
13208 USD
CY2016 us-gaap Preferred Stock Amount Of Preferred Dividends In Arrears
PreferredStockAmountOfPreferredDividendsInArrears
103750 USD
CY2016 us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
29856 shares
CY2015 us-gaap Dividends Common Stock
DividendsCommonStock
29249 USD
CY2016Q4 us-gaap Prepaid Insurance
PrepaidInsurance
31703 USD
CY2015Q4 us-gaap Prepaid Insurance
PrepaidInsurance
8752 USD
CY2016Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
110000 USD
CY2015Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
0 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
896787 USD
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
308658 USD
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
103750 shares
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
103750 shares
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6M
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6M
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2016Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
7277408 USD
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00 pure
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00 pure
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
11400 USD
CY2016 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
greater than 50 percent
CY2016 bara Operating Loss Carry Forwards Expiration Period
OperatingLossCarryForwardsExpirationPeriod
2018 to 2036
CY2016Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
62039 USD
CY2015Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
42304 USD
CY2016Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
42 USD
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4855 USD
CY2016Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
33863 USD
CY2015Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
6982 USD
CY2016Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
471826 USD
CY2015Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
0 USD
CY2016Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
329017 USD
CY2015Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
254517 USD
CY2016Q4 us-gaap Interest Payable Current
InterestPayableCurrent
13208 USD
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10567235 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10317379 shares
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
5655 shares
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
5655 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
10567235 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
10317379 shares
CY2016Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
0 USD
CY2015Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
0 USD

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