2020 Q2 Form 10-Q Financial Statement

#000117184320004597 Filed on June 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $10.42M $4.384M $8.567M
YoY Change -32.6% -48.83% 3.72%
Cost Of Revenue $10.12M $3.485M $8.125M
YoY Change -32.94% -57.11% 6.08%
Gross Profit $298.0K $899.0K $442.0K
YoY Change -18.58% 103.39% -26.46%
Gross Profit Margin 2.86% 20.51% 5.16%
Selling, General & Admin $1.202M $2.961M $979.0K
YoY Change -15.89% 202.45% -49.22%
% of Gross Profit 403.36% 329.37% 221.49%
Research & Development $116.0K $214.0K $201.0K
YoY Change -27.04% 6.47% -7.8%
% of Gross Profit 38.93% 23.8% 45.48%
Depreciation & Amortization $2.000K $207.0K $38.00K
YoY Change -80.0% 444.74% -82.41%
% of Gross Profit 0.67% 23.03% 8.6%
Operating Expenses $1.318M $3.175M $1.180M
YoY Change -17.0% 169.07% -45.01%
Operating Profit -$1.020M -$2.276M -$738.0K
YoY Change -16.53% 208.4% -52.23%
Interest Expense $1.000K $11.00K
YoY Change -90.91% 10.0%
% of Operating Profit
Other Income/Expense, Net $40.00K $44.00K -$363.0K
YoY Change -95.04% -112.12% -137.38%
Pretax Income -$980.0K -$2.232M -$1.101M
YoY Change 136.14% 102.72% 91.81%
Income Tax -$10.00K $78.00K $39.00K
% Of Pretax Income
Net Earnings -$968.0K -$2.310M -$1.138M
YoY Change 155.41% 102.99% 101.42%
Net Earnings / Revenue -9.29% -52.69% -13.28%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 21.69M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.055M $1.555M $1.600M
Short-Term Investments
Other Short-Term Assets $959.0K $831.0K $9.000K
YoY Change 11887.5% 9133.33%
Inventory
Prepaid Expenses
Receivables $2.520M $3.070M $6.830M
Other Receivables $959.0K $831.0K
Total Short-Term Assets $9.664M $10.45M $10.61M
YoY Change -5.35% -1.46% -42.93%
LONG-TERM ASSETS
Property, Plant & Equipment $73.00K $75.00K $112.0K
YoY Change -26.26% -33.04% -57.58%
Goodwill
YoY Change
Intangibles $1.493M $1.698M $41.00K
YoY Change 4047.22% 4041.46% -98.92%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $7.410M $8.041M $7.943M
YoY Change 66.11% 1.23% -42.52%
TOTAL ASSETS
Total Short-Term Assets $9.664M $10.45M $10.61M
Total Long-Term Assets $7.410M $8.041M $7.943M
Total Assets $17.07M $18.49M $18.55M
YoY Change 16.38% -0.31% -42.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $395.0K $257.0K $1.165M
YoY Change -46.77% -77.94% 40.02%
Accrued Expenses
YoY Change
Deferred Revenue $1.619M $2.104M $1.644M
YoY Change 27.98%
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.365M $6.819M $7.358M
YoY Change -22.59% -7.33% -8.44%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.365M $6.819M $7.358M
Total Long-Term Liabilities
Total Liabilities $6.489M $6.943M $8.444M
YoY Change -22.28% -17.78% -5.93%
SHAREHOLDERS EQUITY
Retained Earnings -$39.05M -$38.08M -$35.65M
YoY Change 8.39% 6.82% 69.34%
Common Stock $22.00K $22.00K $16.00K
YoY Change 37.5% 37.5% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.64M $11.61M $6.683M
YoY Change
Total Liabilities & Shareholders Equity $17.07M $18.49M $15.08M
YoY Change 16.38% 22.68% -53.48%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$968.0K -$2.310M -$1.138M
YoY Change 155.41% 102.99% 101.42%
Depreciation, Depletion And Amortization $2.000K $207.0K $38.00K
YoY Change -80.0% 444.74% -82.41%
Cash From Operating Activities $1.518M -$2.270M
YoY Change -166.87% -28.59%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.117M -$36.00K
YoY Change 3002.78% -98.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -430.0K
YoY Change
NET CHANGE
Cash From Operating Activities 1.518M -2.270M
Cash From Investing Activities -1.117M -36.00K
Cash From Financing Activities -430.0K
Net Change In Cash -48.00K -2.259M
YoY Change -97.88% -149.64%
FREE CASH FLOW
Cash From Operating Activities $1.518M -$2.270M
Capital Expenditures
Free Cash Flow -$2.270M
YoY Change -28.62%

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top"><td style="width: 21pt">d)</td> <td style="text-align: justify">Use of estimates</td> </tr> </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.55pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.55pt; text-align: justify; text-indent: 0in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates.</div></div></div></div></div></div></div></div>
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