2020 Q2 Form 10-Q Financial Statement

#000072727320000023 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $148.0K $114.0K $109.0K
YoY Change 33.33% 4.59% 0.93%
Cost Of Revenue
YoY Change
Gross Profit $109.0K
YoY Change 0.93%
Gross Profit Margin 100.0%
Selling, General & Admin $3.100M $3.980M $2.920M
YoY Change -5.78% 36.3% 15.42%
% of Gross Profit 2678.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.0K $79.00K $66.00K
YoY Change 66.67% 19.7% 0.0%
% of Gross Profit 60.55%
Operating Expenses $3.190M $4.060M $2.990M
YoY Change -4.78% 35.79% 15.44%
Operating Profit -$3.046M -$3.942M -$2.881M
YoY Change -5.99% 36.83% 15.89%
Interest Expense $1.674M $3.572M $4.234M
YoY Change -61.1% -15.64% 20.42%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$4.719M -$19.89M -$7.259M
YoY Change -36.86% 173.95% 21.59%
Income Tax $1.000K $2.000K $1.000K
% Of Pretax Income
Net Earnings -$4.793M -$20.51M -$7.260M
YoY Change -35.89% 182.56% 21.59%
Net Earnings / Revenue -3238.51% -17994.74% -6660.55%
Basic Earnings Per Share
Diluted Earnings Per Share -$137.6K -$659.3K -$286.6K
COMMON SHARES
Basic Shares Outstanding 34.80M 34.39M 25.45M
Diluted Shares Outstanding 34.80K 31.11K 25.33K

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.600M $10.50M $16.20M
YoY Change -71.28% -35.19% 88.37%
Cash & Equivalents $5.568M $10.52M $16.24M
Short-Term Investments
Other Short-Term Assets $600.0K $600.0K $700.0K
YoY Change 0.0% -14.29% 0.0%
Inventory
Prepaid Expenses
Receivables $138.0K $76.00K $59.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.335M $11.23M $16.95M
YoY Change -68.58% -33.75% 81.88%
LONG-TERM ASSETS
Property, Plant & Equipment $52.45M $51.63M $46.92M
YoY Change 10.75% 10.02% 2.5%
Goodwill $3.813M $3.813M $3.813M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $1.998M $1.028M
YoY Change
Other Assets $4.339M $4.378M $4.247M
YoY Change 3.41% 3.08% 7.27%
Total Long-Term Assets $64.60M $62.85M $56.98M
YoY Change 12.61% 10.29% 6.41%
TOTAL ASSETS
Total Short-Term Assets $6.335M $11.23M $16.95M
Total Long-Term Assets $64.60M $62.85M $56.98M
Total Assets $70.93M $74.07M $73.93M
YoY Change -8.51% 0.19% 17.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.075M $961.0K $1.038M
YoY Change -1.01% -7.42% -11.13%
Accrued Expenses $1.026M $975.0K $1.053M
YoY Change -25.05% -7.41% 57.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $17.00K $20.00K $60.00K
YoY Change -67.92% -66.67% 5.26%
Total Short-Term Liabilities $4.190M $4.548M $3.116M
YoY Change 20.61% 45.96% -17.22%
LONG-TERM LIABILITIES
Long-Term Debt $73.74M $72.40M $136.7M
YoY Change -46.56% -47.05% 7.84%
Other Long-Term Liabilities $2.000K $3.000K $15.50M
YoY Change -99.99% -99.98% 811.76%
Total Long-Term Liabilities $73.74M $72.40M $136.7M
YoY Change -46.56% -47.04% 7.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.190M $4.548M $3.116M
Total Long-Term Liabilities $73.74M $72.40M $136.7M
Total Liabilities $95.11M $93.76M $155.3M
YoY Change -39.53% -39.65% 6.58%
SHAREHOLDERS EQUITY
Retained Earnings -$526.9M -$522.1M -$479.3M
YoY Change 8.24% 8.93% 6.58%
Common Stock $347.0K $347.0K $259.0K
YoY Change 29.0% 33.98% 11.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$24.18M -$19.69M -$81.42M
YoY Change
Total Liabilities & Shareholders Equity $70.93M $74.07M $73.93M
YoY Change -8.51% 0.19% 17.59%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$4.793M -$20.51M -$7.260M
YoY Change -35.89% 182.56% 21.59%
Depreciation, Depletion And Amortization $100.0K $79.00K $66.00K
YoY Change 66.67% 19.7% 0.0%
Cash From Operating Activities -$2.640M -$4.379M -$4.035M
YoY Change -6.71% 8.53% 2.49%
INVESTING ACTIVITIES
Capital Expenditures -$1.260M $3.453M $165.0K
YoY Change 93.85% 1992.73% -67.13%
Acquisitions
YoY Change
Other Investing Activities -$1.040M -$1.240M
YoY Change
Cash From Investing Activities -$2.310M -$4.693M -$165.0K
YoY Change 255.38% 2744.24% -67.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.923M $7.891M
YoY Change -50.29%
Debt Paid & Issued, Net $15.00K $14.00K
YoY Change 7.14% 0.0%
Cash From Financing Activities -10.00K $3.908M 7.877M
YoY Change -100.15% -50.39% -56364.29%
NET CHANGE
Cash From Operating Activities -2.640M -$4.379M -4.035M
Cash From Investing Activities -2.310M -$4.693M -165.0K
Cash From Financing Activities -10.00K $3.908M 7.877M
Net Change In Cash -4.960M -$5.164M 3.677M
YoY Change -252.62% -240.44% -182.57%
FREE CASH FLOW
Cash From Operating Activities -$2.640M -$4.379M -$4.035M
Capital Expenditures -$1.260M $3.453M $165.0K
Free Cash Flow -$1.380M -$7.832M -$4.200M
YoY Change -36.7% 86.48% -5.38%

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CY2018Q4 us-gaap Stockholders Equity
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CY2019Q1 us-gaap Stockholders Equity
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CY2020Q1 us-gaap Unrecognized Tax Benefits
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1500000
CY2020Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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0
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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31113
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
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7891000
CY2020Q1 us-gaap Property Plant And Equipment Net
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51626000
CY2019Q4 us-gaap Property Plant And Equipment Net
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49947000
CY2020Q1 us-gaap Repayments Of Long Term Debt
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15000
CY2019Q1 us-gaap Repayments Of Long Term Debt
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CY2020Q1 us-gaap Restricted Cash
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134000
CY2019Q4 us-gaap Restricted Cash
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134000
CY2019Q1 us-gaap Restricted Cash
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CY2020Q1 us-gaap Revenues
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114000
CY2019Q1 us-gaap Revenues
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109000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1250000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
122000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
115000
CY2020Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
5766337
CY2020Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
38900000
CY2019Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
3204000
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3923000
CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
7891000
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1251000
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
122000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25327

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