2014 Q2 Form 10-Q Financial Statement

#000114420414028649 Filed on May 08, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit $0.00 $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $37.00K $37.00K $900.0K
YoY Change 0.0% -95.89% 50.0%
% of Gross Profit
Research & Development $556.0K $607.0K $458.0K
YoY Change 3.54% 32.53% 76.15%
% of Gross Profit
Depreciation & Amortization $60.00K $58.00K $52.00K
YoY Change 20.0% 11.54% 420.0%
% of Gross Profit
Operating Expenses $1.628M $1.647M $1.361M
YoY Change 15.63% 21.01% 58.26%
Operating Profit -$1.628M -$1.647M -$1.361M
YoY Change 15.63% 21.01%
Interest Expense $0.00 $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.000K $4.000K
YoY Change -75.0%
Pretax Income -$1.630M -$1.650M -$1.360M
YoY Change 15.6% 21.32% 58.14%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.626M -$1.646M -$1.357M
YoY Change 15.73% 21.3% 57.79%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$169.3K -$173.9K -$154.9K
COMMON SHARES
Basic Shares Outstanding 9.632M shares 9.648M shares
Diluted Shares Outstanding 1.250M shares 1.125M shares

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.730M $6.500M $6.660M
YoY Change -8.33% -2.4% 2675.0%
Cash & Equivalents $4.731M $6.503M $6.655M
Short-Term Investments
Other Short-Term Assets $210.0K $40.00K $160.0K
YoY Change -34.38% -75.0% -82.98%
Inventory
Prepaid Expenses $212.0K $42.00K
Receivables
Other Receivables
Total Short-Term Assets $4.943M $6.545M $6.810M
YoY Change -9.8% -3.89% 472.27%
LONG-TERM ASSETS
Property, Plant & Equipment $371.0K $386.0K $490.0K
YoY Change -13.72% -21.22% 172.22%
Goodwill
YoY Change
Intangibles $2.030M $1.779M
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $2.411M $2.175M $1.280M
YoY Change 70.99% 69.92% 326.67%
TOTAL ASSETS
Total Short-Term Assets $4.943M $6.545M $6.810M
Total Long-Term Assets $2.411M $2.175M $1.280M
Total Assets $7.354M $8.720M $8.090M
YoY Change 6.73% 7.79% 442.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $216.0K $284.0K $330.0K
YoY Change 27.06% -13.94% -62.5%
Accrued Expenses $516.0K $322.0K $270.0K
YoY Change 7.5% 19.26% -41.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $732.0K $606.0K $590.0K
YoY Change 12.62% 2.71% -57.25%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $40.00K $40.00K $30.00K
YoY Change 33.33% 33.33% 0.0%
Total Long-Term Liabilities $40.00K $40.00K $30.00K
YoY Change 33.33% 33.33% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $732.0K $606.0K $590.0K
Total Long-Term Liabilities $40.00K $40.00K $30.00K
Total Liabilities $770.0K $646.0K $620.0K
YoY Change 11.59% 4.19% -56.03%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.000K $1.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.584M $8.074M $7.470M
YoY Change
Total Liabilities & Shareholders Equity $7.354M $8.720M $8.090M
YoY Change 6.73% 7.79% 442.95%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$1.626M -$1.646M -$1.357M
YoY Change 15.73% 21.3% 57.79%
Depreciation, Depletion And Amortization $60.00K $58.00K $52.00K
YoY Change 20.0% 11.54% 420.0%
Cash From Operating Activities -$1.470M -$1.640M -$1.070M
YoY Change 11.36% 53.27% 72.58%
INVESTING ACTIVITIES
Capital Expenditures -$290.0K $17.00K $141.0K
YoY Change 61.11% -87.94% -382.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$290.0K -$350.0K -$300.0K
YoY Change 61.11% 16.67% 500.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 5.800M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -1.470M -1.640M -1.070M
Cash From Investing Activities -290.0K -350.0K -300.0K
Cash From Financing Activities 0.000 5.800M 0.000
Net Change In Cash -1.760M 3.810M -1.370M
YoY Change 17.33% -378.1% 101.47%
FREE CASH FLOW
Cash From Operating Activities -$1.470M -$1.640M -$1.070M
Capital Expenditures -$290.0K $17.00K $141.0K
Free Cash Flow -$1.180M -$1.657M -$1.211M
YoY Change 3.51% 36.83% 112.46%

Facts In Submission

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StockIssuedDuringPeriodParValueExerciseOfWarrant
2.20
CY2013Q1 clir Common Stock Issued For Services
CommonStockIssuedForServices
37000 USD
CY2014Q1 clir Common Stock Issued For Services
CommonStockIssuedForServices
55000 USD
clir Common Stock Issued For Services
CommonStockIssuedForServices
1836000 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
39000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
81000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
549000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1636000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-11586000 USD
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
141000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
789000 USD
CY2013Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
162000 USD
CY2014Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
328000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1791000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-303000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-345000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2580000 USD
CY2013Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
0 USD
CY2014Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
5796000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
20717000 USD
CY2013Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
CY2014Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
98000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
275000 USD
CY2013Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2014Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
146000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
0 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
5796000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
20669000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1372000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3815000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
6503000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8027000 USD
CY2008Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6655000 USD
CY2013Q1 us-gaap Interest Paid
InterestPaid
0 USD
CY2014Q1 us-gaap Interest Paid
InterestPaid
0 USD
us-gaap Interest Paid
InterestPaid
1000 USD
CY2014Q1 clir Number Of Stock To Be Issued Upon Conversion Of Warrants
NumberOfStockToBeIssuedUponConversionOfWarrants
shares
clir Warrants Authorized For Issuance To Acquire Common Stock Shares Number
WarrantsAuthorizedForIssuanceToAcquireCommonStockSharesNumber
345000 shares
CY2014Q1 clir Common Stock Issued In Partial Satisfaction Of Accounts Payable
CommonStockIssuedInPartialSatisfactionOfAccountsPayable
USD
clir Common Stock Issued Shares
CommonStockIssuedShares
68091 shares
us-gaap Stock Issued1
StockIssued1
126000 USD
clir Common Stock Shares Issued To Discharge Common Stock To Be Issued
CommonStockSharesIssuedToDischargeCommonStockToBeIssued
49728 shares
clir Common Stock Shares Cancelled
CommonStockSharesCancelled
5825 shares
clir Common Stock Value Cancelled
CommonStockValueCancelled
10000 USD
clir Common Stock Share Issued To Partially Satisfy Compensation
CommonStockShareIssuedToPartiallySatisfyCompensation
52375 shares
clir Common Stock Value Issued To Partially Satisfy Compensation
CommonStockValueIssuedToPartiallySatisfyCompensation
115000 USD
clir Accounts Payable To Vendors
AccountsPayableToVendors
46000 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
2000 USD
clir Interest Bearing Promissory Note
InterestBearingPromissoryNote
48000 USD
us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
10834 shares
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
20000 USD
clir Common Stock Value Issued To Discharge Common Stock To Be Issued One
CommonStockValueIssuedToDischargeCommonStockToBeIssuedOne
99000 USD
clir Common Stock Value Issued To Discharge Common Stock To Be Issued Two
CommonStockValueIssuedToDischargeCommonStockToBeIssuedTwo
90000 USD
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Trading Symbol
TradingSymbol
CLIR
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
9631913 shares
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
CLEARSIGN COMBUSTION CORP
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001434524
CY2014Q1 clir Stock Issued During Period Value For Services Nine
StockIssuedDuringPeriodValueForServicesNine
55000 USD
CY2014Q1 clir Common Stock For Services Per Share Issue Nine
CommonStockForServicesPerShareIssueNine
10.26
CY2014Q1 clir Stock Issued In Registered Direct Offering Price Per Share
StockIssuedInRegisteredDirectOfferingPricePerShare
8.00
CY2014Q1 clir Stock Issued During Period Par Value Exercise Of Options
StockIssuedDuringPeriodParValueExerciseOfOptions
4.88
CY2014Q1 clir Adjustments To Additional Paid In Capital Stock Issued Issuance Costs Associated With Initial Direct Offering
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCostsAssociatedWithInitialDirectOffering
812000 USD
CY2014Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
16000 USD
CY2014Q1 clir Adjustments To Additional Paid In Capital Stock Issued Registered Direct Offering
AdjustmentsToAdditionalPaidInCapitalStockIssuedRegisteredDirectOffering
812500 shares
CY2014Q1 clir Shares Reserved Unissued
SharesReservedUnissued
126537 shares
CY2014Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
37000 USD
CY2014Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y3M18D
clir Warrants Authorized For Issuance To Acquire Common Stock Value
WarrantsAuthorizedForIssuanceToAcquireCommonStockValue
128000 USD
CY2014Q1 clir Placement Agent Fees
PlacementAgentFees
488000 USD
CY2014Q1 clir Payments For Placement Agent Legal Fees
PaymentsForPlacementAgentLegalFees
75000 USD
CY2014Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
44000 USD
CY2013Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0 USD
CY2014Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
18000 USD
CY2014Q1 clir Stock Issued During Period Value Registered Direct Offering
StockIssuedDuringPeriodValueRegisteredDirectOffering
6500000 USD
CY2014Q1 clir Increase In Deferred Rent
IncreaseInDeferredRent
9000 USD

Files In Submission

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0001144204-14-028649-index-headers.html Edgar Link pending
0001144204-14-028649-index.html Edgar Link pending
0001144204-14-028649.txt Edgar Link pending
0001144204-14-028649-xbrl.zip Edgar Link pending
clir-20140331.xml Edgar Link completed
clir-20140331.xsd Edgar Link pending
clir-20140331_cal.xml Edgar Link unprocessable
clir-20140331_def.xml Edgar Link unprocessable
clir-20140331_lab.xml Edgar Link unprocessable
clir-20140331_pre.xml Edgar Link unprocessable
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