2016 Q2 Form 10-Q Financial Statement

#000162828016018502 Filed on August 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q4 2015 Q2
Revenue $104.0K $79.00K $49.00K
YoY Change 112.24% 41.07% -12.5%
Cost Of Revenue $409.5K $200.0K $80.03K
YoY Change 411.64% 900.0%
Gross Profit -$305.5K -$120.0K -$31.03K
YoY Change 884.41% -400.0%
Gross Profit Margin -293.71% -151.9% -63.33%
Selling, General & Admin $5.598M $4.150M $3.917M
YoY Change 42.9% 16.25% 106.18%
% of Gross Profit
Research & Development $4.076M $3.110M $2.684M
YoY Change 51.87% 220.62% 91.73%
% of Gross Profit
Depreciation & Amortization $330.0K $130.0K $80.00K
YoY Change 312.5% 116.67% 33.33%
% of Gross Profit
Operating Expenses $10.08M $7.463M $6.682M
YoY Change 50.91% 63.66% 102.67%
Operating Profit -$9.980M -$7.583M -$6.632M
YoY Change 50.48% 67.77%
Interest Expense -$220.0K $10.00K -$3.560M
YoY Change -93.82% -105.56% -264.81%
% of Operating Profit
Other Income/Expense, Net $0.00 -$10.00K $9.179K
YoY Change -100.0% -50.0%
Pretax Income -$10.20M -$7.380M -$10.18M
YoY Change 0.2% 57.69% 842.59%
Income Tax
% Of Pretax Income
Net Earnings -$10.20M -$7.380M -$10.18M
YoY Change 0.22% 57.69% 842.6%
Net Earnings / Revenue -9809.88% -9341.77% -20775.58%
Basic Earnings Per Share -$0.34 -$0.25 -$0.41
Diluted Earnings Per Share -$0.34 -$0.26 -$0.41
COMMON SHARES
Basic Shares Outstanding 29.96M shares 29.72M shares 24.59M shares
Diluted Shares Outstanding 29.96M shares 30.16M shares 24.59M shares

Balance Sheet

Concept 2016 Q2 2015 Q4 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.60M $67.50M $41.30M
YoY Change 22.52% 147.25% 19.02%
Cash & Equivalents $22.58M $67.49M $41.29M
Short-Term Investments $28.00M
Other Short-Term Assets $900.0K $800.0K $500.0K
YoY Change 80.0% 100.0% 66.67%
Inventory
Prepaid Expenses
Receivables $158.5K $98.74K $100.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $51.62M $68.38M $41.90M
YoY Change 23.2% 146.69% 19.71%
LONG-TERM ASSETS
Property, Plant & Equipment $4.732M $2.691M $1.400M
YoY Change 237.98% 220.16% 75.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $371.2K $374.0K $400.0K
YoY Change -7.19% 11.08% 33.33%
Total Long-Term Assets $5.103M $3.065M $1.700M
YoY Change 200.18% 160.35% 41.67%
TOTAL ASSETS
Total Short-Term Assets $51.62M $68.38M $41.90M
Total Long-Term Assets $5.103M $3.065M $1.700M
Total Assets $56.72M $71.45M $43.60M
YoY Change 30.1% 147.24% 20.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.115M $1.041M $1.100M
YoY Change 1.39% 39.19% 175.0%
Accrued Expenses $3.627M $1.904M $1.500M
YoY Change 141.8% 3.37% -6.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.100M $5.200M $2.300M
YoY Change 165.22% 173.68%
Total Short-Term Liabilities $10.89M $8.201M $5.000M
YoY Change 117.78% 82.73% 150.0%
LONG-TERM LIABILITIES
Long-Term Debt $9.000M $11.20M $12.90M
YoY Change -30.23% -14.5% -12.24%
Other Long-Term Liabilities $1.519M $0.00 $7.700M
YoY Change -80.27% -100.0% 250.0%
Total Long-Term Liabilities $1.519M $0.00 $20.60M
YoY Change -92.63% -100.0% 21.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.89M $8.201M $5.000M
Total Long-Term Liabilities $1.519M $0.00 $20.60M
Total Liabilities $24.15M $22.74M $25.50M
YoY Change -5.29% 10.69% 34.92%
SHAREHOLDERS EQUITY
Retained Earnings -$129.4M -$108.9M
YoY Change 33.78%
Common Stock $3.015K $2.974K
YoY Change 57.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $32.57M $48.70M $18.10M
YoY Change
Total Liabilities & Shareholders Equity $56.72M $71.45M $43.60M
YoY Change 30.1% 147.24% 20.44%

Cashflow Statement

Concept 2016 Q2 2015 Q4 2015 Q2
OPERATING ACTIVITIES
Net Income -$10.20M -$7.380M -$10.18M
YoY Change 0.22% 57.69% 842.6%
Depreciation, Depletion And Amortization $330.0K $130.0K $80.00K
YoY Change 312.5% 116.67% 33.33%
Cash From Operating Activities -$8.070M -$6.810M -$5.450M
YoY Change 48.07% 75.97% 105.66%
INVESTING ACTIVITIES
Capital Expenditures -$320.0K -$980.0K -$440.0K
YoY Change -27.27% 716.67% 4300.0%
Acquisitions
YoY Change
Other Investing Activities -$27.95M $10.00K
YoY Change -83.33%
Cash From Investing Activities -$28.27M -$970.0K -$440.0K
YoY Change 6325.0% 1516.67% 4300.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.060M 1.130M 3.190M
YoY Change -133.23% 1783.33% -77.95%
NET CHANGE
Cash From Operating Activities -8.070M -6.810M -5.450M
Cash From Investing Activities -28.27M -970.0K -440.0K
Cash From Financing Activities -1.060M 1.130M 3.190M
Net Change In Cash -37.40M -6.650M -2.700M
YoY Change 1285.19% 71.83% -122.86%
FREE CASH FLOW
Cash From Operating Activities -$8.070M -$6.810M -$5.450M
Capital Expenditures -$320.0K -$980.0K -$440.0K
Free Cash Flow -$7.750M -$5.830M -$5.010M
YoY Change 54.69% 55.47% 89.77%

Facts In Submission

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us-gaap Operating Expenses
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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-20438893 USD
CY2015Q4 us-gaap Other Assets Noncurrent
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CY2016Q2 us-gaap Other Assets Noncurrent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
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0 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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0 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2015Q4 us-gaap Other Liabilities Noncurrent
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CY2015Q2 us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
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0 USD
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us-gaap Other Sales Revenue Net
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us-gaap Payments To Acquire Available For Sale Securities
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0 USD
us-gaap Payments To Acquire Available For Sale Securities
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us-gaap Payments To Acquire Property Plant And Equipment
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687965 USD
us-gaap Payments To Acquire Property Plant And Equipment
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670867 USD
CY2015Q2 us-gaap Preferred Stock Dividends Income Statement Impact
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us-gaap Preferred Stock Dividends Income Statement Impact
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12120 USD
CY2016Q2 us-gaap Preferred Stock Dividends Income Statement Impact
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6060 USD
us-gaap Preferred Stock Dividends Income Statement Impact
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12120 USD
CY2015Q4 us-gaap Preferred Stock Liquidation Preference Value
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CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2015Q4 us-gaap Preferred Stock Shares Authorized
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CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2016Q2 us-gaap Preferred Stock Shares Outstanding
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CY2015Q4 us-gaap Preferred Stock Value
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CY2016Q2 us-gaap Preferred Stock Value
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CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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0 USD
us-gaap Proceeds From Long Term Lines Of Credit
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0 USD
us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Warrant Exercises
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CY2015Q4 us-gaap Property Plant And Equipment Gross
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CY2016Q2 us-gaap Property Plant And Equipment Gross
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CY2015Q4 us-gaap Property Plant And Equipment Net
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CY2016Q2 us-gaap Property Plant And Equipment Net
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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CY2015Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2016Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2015Q2 us-gaap Royalty Revenue
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us-gaap Royalty Revenue
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us-gaap Royalty Revenue
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SalesRevenueNet
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us-gaap Sales Revenue Net
SalesRevenueNet
176316 USD
us-gaap Sales Revenue Net
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223886 USD
CY2015Q2 us-gaap Selling And Marketing Expense
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us-gaap Selling And Marketing Expense
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CY2016Q2 us-gaap Selling And Marketing Expense
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us-gaap Selling And Marketing Expense
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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CY2015Q4 us-gaap Short Term Investments
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CY2015Q2 us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Unrealized Gain Loss On Derivatives
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CY2016Q2 us-gaap Unrealized Gain Loss On Derivatives
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52876 USD
us-gaap Unrealized Gain Loss On Derivatives
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586626 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23212963 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30033207 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24592883 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23212963 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29958037 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:45px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&#160;Actual results could differ from those estimates.</font></div></div>

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