2019 Q2 Form 10-Q Financial Statement

#000143774919009498 Filed on May 10, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q1
Revenue $1.924M $1.924M $1.573M
YoY Change 20.02% 22.31% 22.7%
Cost Of Revenue $1.045M $1.045M $964.0K
YoY Change -10.68% 8.4% -2.53%
Gross Profit $879.0K $879.0K $609.0K
YoY Change 98.42% 44.33% 107.85%
Gross Profit Margin 45.69% 45.69% 38.72%
Selling, General & Admin $1.682M $1.744M $1.475M
YoY Change -24.91% 18.24% 8.86%
% of Gross Profit 191.35% 198.41% 242.2%
Research & Development $341.0K $299.0K $473.0K
YoY Change -40.18% -36.79% 44.65%
% of Gross Profit 38.79% 34.02% 77.67%
Depreciation & Amortization $49.00K $47.00K $30.00K
YoY Change 63.33% 56.67% -25.0%
% of Gross Profit 5.57% 5.35% 4.93%
Operating Expenses $2.023M $2.042M $1.948M
YoY Change -27.75% 4.83% 15.81%
Operating Profit -$1.144M -$1.163M -$1.339M
YoY Change -51.46% -13.14% -3.6%
Interest Expense $49.00K $34.00K $10.00K
YoY Change 390.0% 240.0% -66.67%
% of Operating Profit
Other Income/Expense, Net $0.00 $36.00K $7.000K
YoY Change 414.29% -75.86%
Pretax Income -$1.095M -$1.127M -$1.330M
YoY Change -53.6% -15.26% -2.21%
Income Tax
% Of Pretax Income
Net Earnings -$1.095M -$1.127M -$1.332M
YoY Change -53.27% -15.39% -2.06%
Net Earnings / Revenue -56.91% -58.58% -84.68%
Basic Earnings Per Share
Diluted Earnings Per Share -$16.26K -$16.74K -$24.14K
COMMON SHARES
Basic Shares Outstanding 67.34M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.326M $6.392M $4.520M
YoY Change 55.28% 41.42% -56.58%
Cash & Equivalents $5.326M $4.059M $2.365M
Short-Term Investments $0.00 $2.333M $2.150M
Other Short-Term Assets $27.00K $390.0K $380.0K
YoY Change -6.9% 2.63% 8.57%
Inventory $530.0K $533.0K $458.0K
Prepaid Expenses
Receivables $1.154M $1.116M $970.0K
Other Receivables $86.00K $0.00 $0.00
Total Short-Term Assets $7.315M $8.431M $6.325M
YoY Change 34.32% 33.3% -46.95%
LONG-TERM ASSETS
Property, Plant & Equipment $1.609M $1.564M $1.229M
YoY Change 22.73% 27.26% 21.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $162.0K $160.0K $192.0K
YoY Change -18.18% -16.67% -28.09%
Total Long-Term Assets $2.107M $2.148M $1.997M
YoY Change 4.88% 7.56% -1.04%
TOTAL ASSETS
Total Short-Term Assets $7.315M $8.431M $6.325M
Total Long-Term Assets $2.107M $2.148M $1.997M
Total Assets $9.422M $10.58M $8.322M
YoY Change 26.38% 27.12% -40.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $683.0K $1.001M $770.0K
YoY Change -50.86% 30.0% 8.45%
Accrued Expenses $438.0K $354.0K $350.0K
YoY Change -0.45% 1.14% -18.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.121M $1.355M $1.123M
YoY Change -38.91% 20.66% -1.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $621.0K $613.0K $580.0K
YoY Change 5.25% 5.69% 5.45%
Total Long-Term Liabilities $621.0K $613.0K $580.0K
YoY Change 5.25% 5.69% 5.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.121M $1.355M $1.123M
Total Long-Term Liabilities $621.0K $613.0K $580.0K
Total Liabilities $1.742M $1.968M $1.706M
YoY Change -28.16% 15.36% 0.71%
SHAREHOLDERS EQUITY
Retained Earnings -$84.49M -$83.40M -$76.95M
YoY Change 6.48% 8.38% 8.76%
Common Stock $92.17M $92.01M $83.56M
YoY Change 9.24% 10.11% 0.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.680M $8.611M $6.616M
YoY Change
Total Liabilities & Shareholders Equity $9.422M $10.58M $8.322M
YoY Change 26.38% 27.12% -40.31%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$1.095M -$1.127M -$1.332M
YoY Change -53.27% -15.39% -2.06%
Depreciation, Depletion And Amortization $49.00K $47.00K $30.00K
YoY Change 63.33% 56.67% -25.0%
Cash From Operating Activities -$985.0K -$1.338M -$1.080M
YoY Change -32.07% 23.89% -27.52%
INVESTING ACTIVITIES
Capital Expenditures -$105.0K -$128.0K -$80.00K
YoY Change -19.23% 60.0% 60.0%
Acquisitions
YoY Change
Other Investing Activities $2.344M $2.333M $580.0K
YoY Change 77.58% 302.24% -2033.33%
Cash From Investing Activities $2.239M $2.205M $500.0K
YoY Change 86.58% 341.0% -725.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.00K -9.000K 0.000
YoY Change -97.29%
NET CHANGE
Cash From Operating Activities -985.0K -1.338M -1.080M
Cash From Investing Activities 2.239M 2.205M 500.0K
Cash From Financing Activities 13.00K -9.000K 0.000
Net Change In Cash 1.267M 858.0K -580.0K
YoY Change 450.87% -247.93% -63.06%
FREE CASH FLOW
Cash From Operating Activities -$985.0K -$1.338M -$1.080M
Capital Expenditures -$105.0K -$128.0K -$80.00K
Free Cash Flow -$880.0K -$1.210M -$1.000M
YoY Change -33.33% 21.0% -30.56%

Facts In Submission

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OtherAssetsNoncurrent
198000
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2000
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
11000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
11000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
353000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
231000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
11141000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
4054000
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3000
CY2018Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
8000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
8000
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
390000
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
335000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7370000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
24000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
9632000
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
4943000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
50000
CY2019Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8898000
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8982000
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1564000
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1311000
CY2019Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
1116000
CY2018Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
1192000
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
299000
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
473000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1133000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1174000
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
181000
CY2018Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
181000
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
181000
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-83397000
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-79348000
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1924000
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1573000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5390000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4320000
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
692000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1996000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1980000
us-gaap Share Based Compensation
ShareBasedCompensation
269000
CY2019Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
645000
us-gaap Share Based Compensation
ShareBasedCompensation
317000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2163000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.79
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
10000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
20000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
37500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
70750
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
114041
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
25000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
15000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
262500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
90000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3925000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.67
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
10000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
10000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3925000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0.67
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y65D
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y310D
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y65D
CY2019Q1 us-gaap Short Term Investments
ShortTermInvestments
2333000
CY2018Q2 us-gaap Short Term Investments
ShortTermInvestments
825000
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
6900
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
6900
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
82810
CY2018Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
7494000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2000
CY2017Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
50000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
8611000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
5030000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
11109000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
9665000
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
10602000
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
9146000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
7871000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
6616000
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
67333000
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
55100000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66937000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
55058000

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