2017 Q3 Form 10-Q Financial Statement

#000162828017011252 Filed on November 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $123.3K $89.00K
YoY Change 38.57% 53.45%
Cost Of Revenue $473.2K $424.6K
YoY Change 11.46% 144.65%
Gross Profit -$349.9K -$335.6K
YoY Change 4.27% 190.43%
Gross Profit Margin -283.69% -377.03%
Selling, General & Admin $4.080M $5.652M
YoY Change -27.82% 50.84%
% of Gross Profit
Research & Development $1.415M $3.937M
YoY Change -64.07% 54.62%
% of Gross Profit
Depreciation & Amortization $310.0K $200.0K
YoY Change 55.0% 100.0%
% of Gross Profit
Operating Expenses $5.921M $10.01M
YoY Change -40.87% 54.83%
Operating Profit -$5.798M -$9.924M
YoY Change -41.58% 54.84%
Interest Expense $37.12K -$270.0K
YoY Change -113.75% -176.55%
% of Operating Profit
Other Income/Expense, Net -$6.541K $0.00
YoY Change -100.0%
Pretax Income -$4.290M -$10.19M
YoY Change -57.9% 271.9%
Income Tax
% Of Pretax Income
Net Earnings -$4.292M -$10.19M
YoY Change -57.89% 272.51%
Net Earnings / Revenue -3480.09% -11450.87%
Basic Earnings Per Share -$1.41 -$0.34
Diluted Earnings Per Share -$1.41 -$0.34
COMMON SHARES
Basic Shares Outstanding 3.039M shares 30.34M shares
Diluted Shares Outstanding 3.039M shares 30.34M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.400M $46.90M
YoY Change -84.22% -36.71%
Cash & Equivalents $7.434M $22.57M
Short-Term Investments $0.00 $24.40M
Other Short-Term Assets $900.0K $900.0K
YoY Change 0.0% 50.0%
Inventory
Prepaid Expenses
Receivables $178.1K $85.15K
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.552M $47.98M
YoY Change -82.18% -35.87%
LONG-TERM ASSETS
Property, Plant & Equipment $3.127M $4.655M
YoY Change -32.82% 152.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $539.3K $371.2K
YoY Change 45.27% 2.29%
Total Long-Term Assets $3.666M $5.026M
YoY Change -27.06% 127.93%
TOTAL ASSETS
Total Short-Term Assets $8.552M $47.98M
Total Long-Term Assets $3.666M $5.026M
Total Assets $12.22M $53.00M
YoY Change -76.95% -31.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $675.5K $925.2K
YoY Change -26.99% -15.9%
Accrued Expenses $2.620M $4.559M
YoY Change -42.52% 114.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.500M $800.0K
YoY Change 87.5% -78.38%
Total Short-Term Liabilities $5.082M $6.565M
YoY Change -22.59% -5.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $15.60M
YoY Change -100.0% 35.65%
Other Long-Term Liabilities $3.200M $4.100M
YoY Change -21.95% 10.81%
Total Long-Term Liabilities $3.200M $19.70M
YoY Change -83.76% 29.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.082M $6.565M
Total Long-Term Liabilities $3.200M $19.70M
Total Liabilities $8.273M $26.23M
YoY Change -68.46% 18.34%
SHAREHOLDERS EQUITY
Retained Earnings -$170.5M -$139.6M
YoY Change 22.15% 37.5%
Common Stock $3.811K $3.060K
YoY Change 24.54% 2.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.945M $26.77M
YoY Change
Total Liabilities & Shareholders Equity $12.22M $53.00M
YoY Change -76.95% -31.18%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$4.292M -$10.19M
YoY Change -57.89% 272.51%
Depreciation, Depletion And Amortization $310.0K $200.0K
YoY Change 55.0% 100.0%
Cash From Operating Activities -$6.590M -$7.050M
YoY Change -6.52% 37.43%
INVESTING ACTIVITIES
Capital Expenditures -$120.0K -$130.0K
YoY Change -7.69% -77.19%
Acquisitions
YoY Change
Other Investing Activities $0.00 $3.500M
YoY Change -100.0%
Cash From Investing Activities -$110.0K $3.370M
YoY Change -103.26% -691.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.370M 3.660M
YoY Change 74.04% -90.51%
NET CHANGE
Cash From Operating Activities -6.590M -7.050M
Cash From Investing Activities -110.0K 3.370M
Cash From Financing Activities 6.370M 3.660M
Net Change In Cash -330.0K -20.00K
YoY Change 1550.0% -100.06%
FREE CASH FLOW
Cash From Operating Activities -$6.590M -$7.050M
Capital Expenditures -$120.0K -$130.0K
Free Cash Flow -$6.470M -$6.920M
YoY Change -6.5% 51.75%

Facts In Submission

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us-gaap Operating Income Loss
OperatingIncomeLoss
-30363380 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-5797621 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-21811520 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1173304 USD
CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
539309 USD
CY2016Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-81 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-1877 USD
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-1544 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-13486 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8078 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-4742 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1544 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-4421 USD
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-7997 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2865 USD
CY2017Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
9065 USD
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6541 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4975 USD
CY2016Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
3900 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
35573 USD
CY2017Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
6431 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
8481 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
1613067 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
24451611 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
8804604 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
797781 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
136251 USD
CY2016Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6060 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
18180 USD
CY2017Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6060 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
18180 USD
CY2016Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
606000 USD
CY2017Q3 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
606000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
60600 shares
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
60600 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
60 USD
CY2017Q3 us-gaap Preferred Stock Value
PreferredStockValue
60 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
956616 USD
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
939200 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
7805086 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2293857 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6634803 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
110000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
792251 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
0 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
16431837 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
16434553 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
366966 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5588900 USD
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5655586 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3826915 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3126969 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
8896166 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
469578 USD
CY2016Q3 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
3937398 USD
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
11221876 USD
CY2017Q3 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
1414706 USD
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
6676251 USD
CY2017Q3 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
2000000 USD
CY2016Q3 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2017Q3 us-gaap Restructuring Charges
RestructuringCharges
-46472 USD
us-gaap Restructuring Charges
RestructuringCharges
1700000 USD
us-gaap Restructuring Charges
RestructuringCharges
1669526 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
0 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
485000 USD
CY2017Q3 us-gaap Restructuring Reserve
RestructuringReserve
400000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-148115202 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-170470696 USD
CY2016Q3 us-gaap Royalty Revenue
RoyaltyRevenue
47236 USD
us-gaap Royalty Revenue
RoyaltyRevenue
207869 USD
CY2017Q3 us-gaap Royalty Revenue
RoyaltyRevenue
58779 USD
us-gaap Royalty Revenue
RoyaltyRevenue
169415 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
89114 USD
us-gaap Sales Revenue Net
SalesRevenueNet
313000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
123329 USD
us-gaap Sales Revenue Net
SalesRevenueNet
320378 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
645775 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
5416168 USD
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2940862 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
9127450 USD
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
419927 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2442931 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5942392 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3117364 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3378243 USD
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
23978022 USD
CY2017Q3 us-gaap Short Term Investments
ShortTermInvestments
0 USD
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
745392 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
19768139 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
3944872 USD
CY2016Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
88208 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
674834 USD
CY2017Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1528669 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
2012747 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30339774 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30136572 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36465672 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32826306 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30339774 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30018841 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36465672 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32826306 shares
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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