2020 Q2 Form 10-Q Financial Statement

#000143774920010494 Filed on May 13, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q2
Revenue $2.279M $2.880M $1.924M
YoY Change 18.45% 49.69% 20.02%
Cost Of Revenue $1.208M $1.174M $1.045M
YoY Change 15.6% 12.34% -10.68%
Gross Profit $1.071M $1.706M $879.0K
YoY Change 21.84% 94.08% 98.42%
Gross Profit Margin 46.99% 59.24% 45.69%
Selling, General & Admin $1.938M $1.960M $1.682M
YoY Change 15.22% 12.39% -24.91%
% of Gross Profit 180.95% 114.89% 191.35%
Research & Development $322.0K $294.0K $341.0K
YoY Change -5.57% -1.67% -40.18%
% of Gross Profit 30.07% 17.23% 38.79%
Depreciation & Amortization $43.00K $45.00K $49.00K
YoY Change -12.24% -4.26% 63.33%
% of Gross Profit 4.01% 2.64% 5.57%
Operating Expenses $2.260M $2.254M $2.023M
YoY Change 11.72% 10.38% -27.75%
Operating Profit -$1.189M -$548.0K -$1.144M
YoY Change 3.93% -52.88% -51.46%
Interest Expense $1.000K $3.000K $49.00K
YoY Change -97.96% -91.18% 390.0%
% of Operating Profit
Other Income/Expense, Net $3.000K $0.00
YoY Change -91.67%
Pretax Income -$1.188M -$545.0K -$1.095M
YoY Change 8.49% -51.64% -53.6%
Income Tax
% Of Pretax Income
Net Earnings -$1.188M -$545.0K -$1.095M
YoY Change 8.49% -51.64% -53.27%
Net Earnings / Revenue -52.13% -18.92% -56.91%
Basic Earnings Per Share
Diluted Earnings Per Share -$17.45K -$8.067K -$16.26K
COMMON SHARES
Basic Shares Outstanding 67.65M 67.34M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.392M $2.405M $5.326M
YoY Change -55.09% -62.37% 55.28%
Cash & Equivalents $2.392M $2.405M $5.326M
Short-Term Investments $0.00
Other Short-Term Assets $27.00K $587.0K $27.00K
YoY Change 0.0% 50.51% -6.9%
Inventory $645.0K $580.0K $530.0K
Prepaid Expenses
Receivables $2.044M $2.147M $1.154M
Other Receivables $31.00K $0.00 $86.00K
Total Short-Term Assets $5.507M $5.719M $7.315M
YoY Change -24.72% -32.17% 34.32%
LONG-TERM ASSETS
Property, Plant & Equipment $1.735M $1.744M $1.609M
YoY Change 7.83% 11.51% 22.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $138.0K $133.0K $162.0K
YoY Change -14.81% -16.88% -18.18%
Total Long-Term Assets $3.192M $3.243M $2.107M
YoY Change 51.5% 50.98% 4.88%
TOTAL ASSETS
Total Short-Term Assets $5.507M $5.719M $7.315M
Total Long-Term Assets $3.192M $3.243M $2.107M
Total Assets $8.699M $8.962M $9.422M
YoY Change -7.67% -15.28% 26.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $654.0K $937.0K $683.0K
YoY Change -4.25% -6.39% -50.86%
Accrued Expenses $921.0K $807.0K $438.0K
YoY Change 110.27% 127.97% -0.45%
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 $1.575M $1.744M $1.121M
YoY Change 40.5% 28.71% -38.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.401M $1.400M $621.0K
YoY Change 125.6% 128.38% 5.25%
Total Long-Term Liabilities $1.401M $1.400M $621.0K
YoY Change 125.6% 128.38% 5.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.575M $1.744M $1.121M
Total Long-Term Liabilities $1.401M $1.400M $621.0K
Total Liabilities $2.976M $3.144M $1.742M
YoY Change 70.84% 59.76% -28.16%
SHAREHOLDERS EQUITY
Retained Earnings -$87.94M -$86.75M -$84.49M
YoY Change 4.08% 4.02% 6.48%
Common Stock $93.66M $92.57M $92.17M
YoY Change 1.62% 0.61% 9.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.723M $5.818M $7.680M
YoY Change
Total Liabilities & Shareholders Equity $8.699M $8.962M $9.422M
YoY Change -7.67% -15.28% 26.38%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q2
OPERATING ACTIVITIES
Net Income -$1.188M -$545.0K -$1.095M
YoY Change 8.49% -51.64% -53.27%
Depreciation, Depletion And Amortization $43.00K $45.00K $49.00K
YoY Change -12.24% -4.26% 63.33%
Cash From Operating Activities -$848.0K -$862.0K -$985.0K
YoY Change -13.91% -35.58% -32.07%
INVESTING ACTIVITIES
Capital Expenditures -$39.00K -$44.00K -$105.0K
YoY Change -62.86% -65.62% -19.23%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $2.344M
YoY Change -100.0% -100.0% 77.58%
Cash From Investing Activities -$39.00K -$44.00K $2.239M
YoY Change -101.74% -102.0% 86.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 874.0K 131.0K 13.00K
YoY Change 6623.08% -1555.56% -97.29%
NET CHANGE
Cash From Operating Activities -848.0K -862.0K -985.0K
Cash From Investing Activities -39.00K -44.00K 2.239M
Cash From Financing Activities 874.0K 131.0K 13.00K
Net Change In Cash -13.00K -775.0K 1.267M
YoY Change -101.03% -190.33% 450.87%
FREE CASH FLOW
Cash From Operating Activities -$848.0K -$862.0K -$985.0K
Capital Expenditures -$39.00K -$44.00K -$105.0K
Free Cash Flow -$809.0K -$818.0K -$880.0K
YoY Change -8.07% -32.4% -33.33%

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us-gaap Payments To Acquire Property Plant And Equipment
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CY2020Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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PreferredStockParOrStatedValuePerShare
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us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
us-gaap Payments To Acquire Short Term Investments
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PreferredStockDividendsIncomeStatementImpact
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CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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1744000
CY2019Q2 us-gaap Preferred Stock Shares Authorized
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CY2020Q1 us-gaap Prepaid Expense And Other Assets Current
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PrepaidExpenseAndOtherAssetsCurrent
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2020Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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1609000
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CY2020Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
294000
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
299000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
804000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1133000
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RestrictedCashAndCashEquivalentsNoncurrent
181000
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
181000
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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-86750000
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RetainedEarningsAccumulatedDeficit
-84492000
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2880000
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1924000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5390000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1228000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
26250
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
70750
CY2020Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
805000
CY2019Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
645000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2286000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1996000
us-gaap Share Based Compensation
ShareBasedCompensation
276000
us-gaap Share Based Compensation
ShareBasedCompensation
269000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
83000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
21250
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
10000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
29500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
20000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
262500
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
172000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4367000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.65
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
63000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
172000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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4367000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
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CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
262500
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
262500
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2018Q3 us-gaap Stock Issued During Period Value New Issues
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CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2000
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2020Q1 us-gaap Stockholders Equity
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CY2019Q2 us-gaap Stockholders Equity
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CY2018Q2 us-gaap Stockholders Equity
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CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
67333000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
67444000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66937000

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