2019 Q2 Form 10-Q Financial Statement

#000162828019010441 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2017 Q4
Revenue $38.35K $111.8K $185.0K
YoY Change -65.7% 9.61% 172.06%
Cost Of Revenue $0.00 $204.4K $380.0K
YoY Change -100.0% -39.55% -35.59%
Gross Profit $38.35K -$92.62K -$200.0K
YoY Change -141.4% -60.78% -61.54%
Gross Profit Margin 100.0% -82.84% -108.11%
Selling, General & Admin $1.428M $2.151M $1.850M
YoY Change -33.61% -53.98% -48.75%
% of Gross Profit 3723.71%
Research & Development $2.830M $1.953M $1.230M
YoY Change 44.94% 98.91% -74.69%
% of Gross Profit 7380.67%
Depreciation & Amortization $40.00K $230.0K $290.0K
YoY Change -82.61% -28.13% -23.68%
% of Gross Profit 104.31%
Operating Expenses $4.258M $4.551M $3.969M
YoY Change -6.44% -24.02% -59.71%
Operating Profit -$4.220M -$4.440M -$4.169M
YoY Change -4.95% -24.6% -59.8%
Interest Expense $0.00 $925.00 $1.380M
YoY Change -100.0% -100.19% 0.0%
% of Operating Profit
Other Income/Expense, Net $1.106K -$71.84K -$170.0K
YoY Change -101.54% -4687.42% 21.43%
Pretax Income -$4.130M -$3.750M -$2.570M
YoY Change 10.13% -53.42% -69.94%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$4.125M -$3.747M -$2.570M
YoY Change 10.1% -53.43% -69.94%
Net Earnings / Revenue -10757.54% -3351.09% -1389.19%
Basic Earnings Per Share -$0.79 -$5.27 -$0.06
Diluted Earnings Per Share -$0.79 -$5.27 -$0.06
COMMON SHARES
Basic Shares Outstanding 5.242M shares 1.237M shares 40.18M shares
Diluted Shares Outstanding 5.242M shares 1.237M shares 40.18M shares

Balance Sheet

Concept 2019 Q2 2018 Q2 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.80M $18.50M $8.200M
YoY Change -41.62% 137.18% -78.36%
Cash & Equivalents $10.79M $18.49M $8.226M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $900.0K $1.000M $1.200M
YoY Change -10.0% 42.86% 20.0%
Inventory
Prepaid Expenses $906.5K
Receivables $122.3K $124.1K $77.10K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.82M $19.64M $9.469M
YoY Change -39.83% 126.95% -75.69%
LONG-TERM ASSETS
Property, Plant & Equipment $252.1K $1.804M $2.426M
YoY Change -86.03% -45.69% -36.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $135.3K $320.7K $389.9K
YoY Change -57.83% -45.07% -66.77%
Total Long-Term Assets $2.048M $2.125M $2.816M
YoY Change -3.61% -45.6% -43.68%
TOTAL ASSETS
Total Short-Term Assets $11.82M $19.64M $9.469M
Total Long-Term Assets $2.048M $2.125M $2.816M
Total Assets $13.87M $21.77M $12.28M
YoY Change -36.29% 73.3% -72.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $525.7K $565.4K $825.2K
YoY Change -7.03% -6.19% -27.0%
Accrued Expenses $2.352M $2.303M $1.455M
YoY Change 2.12% -53.28% -63.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.300M
YoY Change -100.0% -45.83%
Total Short-Term Liabilities $3.694M $3.218M $3.946M
YoY Change 14.78% -56.87% -49.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.300M $1.100M $1.800M
YoY Change 18.18% -31.25% -18.18%
Total Long-Term Liabilities $1.300M $1.100M $1.800M
YoY Change 18.18% -31.25% -89.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.694M $3.218M $3.946M
Total Long-Term Liabilities $1.300M $1.100M $1.800M
Total Liabilities $5.020M $4.291M $5.779M
YoY Change 16.99% -52.59% -76.1%
SHAREHOLDERS EQUITY
Retained Earnings -$200.5M -$184.3M -$173.0M
YoY Change 8.82% 10.88% 16.83%
Common Stock $7.997K $7.173K $5.279K
YoY Change 11.49% 130.79% 71.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.848M $17.48M $6.506M
YoY Change
Total Liabilities & Shareholders Equity $13.87M $21.77M $12.28M
YoY Change -36.29% 73.3% -72.05%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2017 Q4
OPERATING ACTIVITIES
Net Income -$4.125M -$3.747M -$2.570M
YoY Change 10.1% -53.43% -69.94%
Depreciation, Depletion And Amortization $40.00K $230.0K $290.0K
YoY Change -82.61% -28.13% -23.68%
Cash From Operating Activities -$3.440M -$3.250M -$3.330M
YoY Change 5.85% -29.35% -63.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $40.00K
YoY Change -100.0% -300.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$30.00K $0.00
YoY Change -100.0% -100.16% -100.0%
Cash From Investing Activities $0.00 -$30.00K $30.00K
YoY Change -100.0% -100.16% -92.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.910M 15.11M 4.070M
YoY Change -80.74% -190.7% -6883.33%
NET CHANGE
Cash From Operating Activities -3.440M -3.250M -3.330M
Cash From Investing Activities 0.000 -30.00K 30.00K
Cash From Financing Activities 2.910M 15.11M 4.070M
Net Change In Cash -530.0K 11.83M 770.0K
YoY Change -104.48% -592.92% -108.91%
FREE CASH FLOW
Cash From Operating Activities -$3.440M -$3.250M -$3.330M
Capital Expenditures $0.00 $0.00 $40.00K
Free Cash Flow -$3.440M -$3.250M -$3.370M
YoY Change 5.85% -29.19% -62.47%

Facts In Submission

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291173 USD
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291173 USD
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CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2018Q1 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Adoption Quantification
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109922 USD
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
4551409 USD
us-gaap Operating Expenses
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9306568 USD
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4358244 USD
us-gaap Operating Expenses
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8481965 USD
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OperatingIncomeLoss
-4439596 USD
us-gaap Operating Income Loss
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192985 USD
us-gaap Operating Lease Cost
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2123486 USD
CY2019Q1 us-gaap Operating Lease Liability
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2503000 USD
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0 USD
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816102 USD
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
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0 USD
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OperatingLeasePayments
229574 USD
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455938 USD
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0 USD
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1660631 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1970000 USD
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OperatingLeaseWeightedAverageDiscountRatePercent
0.065
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y6M4D
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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2833666 USD
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914540 USD
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3423 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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5868 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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968165 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
941670 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
333124 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
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333124 USD
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OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
0 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
0 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
0 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
0 USD
CY2018Q4 us-gaap Other Assets Noncurrent
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102798 USD
CY2019Q2 us-gaap Other Assets Noncurrent
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135262 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
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-71839 USD
us-gaap Other Nonoperating Income Expense
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-70839 USD
CY2019Q2 us-gaap Other Nonoperating Income Expense
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175381 USD
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0 USD
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31500 USD
us-gaap Payments To Acquire Available For Sale Securities
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0 USD
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5100 USD
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PaymentsToAcquirePropertyPlantAndEquipment
5274 USD
CY2018Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6060 USD
us-gaap Preferred Stock Dividends Income Statement Impact
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12120 USD
CY2019Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6060 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
12120 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Preferred Stock Shares Authorized
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20000000 shares
CY2019Q2 us-gaap Preferred Stock Shares Authorized
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20000000 shares
CY2018Q4 us-gaap Preferred Stock Value
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60 USD
CY2019Q2 us-gaap Preferred Stock Value
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60 USD
CY2018Q4 us-gaap Prepaid Expense Current
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CY2019Q2 us-gaap Prepaid Expense Current
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906466 USD
us-gaap Proceeds From Issuance Of Common Stock
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11779525 USD
us-gaap Proceeds From Issuance Of Common Stock
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2902740 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2900000 USD
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
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4386762 USD
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
us-gaap Proceeds From Payments For Other Financing Activities
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-40000 USD
us-gaap Proceeds From Warrant Exercises
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1612667 USD
us-gaap Proceeds From Warrant Exercises
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3283830 USD
us-gaap Proceeds From Warrant Exercises
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3300000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
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3414494 USD
CY2019Q2 us-gaap Property Plant And Equipment Gross
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1559768 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
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1304433 USD
CY2019Q2 us-gaap Property Plant And Equipment Net
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252053 USD
us-gaap Repayments Of Long Term Lines Of Credit
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1200033 USD
us-gaap Repayments Of Long Term Lines Of Credit
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0 USD
CY2018Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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1952767 USD
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
3836605 USD
CY2019Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
2830340 USD
us-gaap Research And Development Expense Excluding Acquired In Process Cost
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5478939 USD
CY2018Q2 us-gaap Restructuring Charges
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243335 USD
CY2019Q2 us-gaap Restructuring Charges
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0 USD
us-gaap Restructuring Charges
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243335 USD
us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Costs And Asset Impairment Charges
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187500 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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1246260 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
0 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
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-192191215 USD
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CY2018Q2 us-gaap Revenues
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111813 USD
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211949 USD
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300243 USD
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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2503148 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
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2150871 USD
us-gaap Selling General And Administrative Expense
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4655848 USD
CY2019Q2 us-gaap Selling General And Administrative Expense
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1527904 USD
us-gaap Selling General And Administrative Expense
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3003026 USD
us-gaap Share Based Compensation
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1627431 USD
us-gaap Share Based Compensation
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348901 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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279760 USD
CY2018Q2 us-gaap Stock Issued During Period Value New Issues
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4386762 USD
CY2019Q1 us-gaap Stock Issued During Period Value Other
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-40000 USD
CY2017Q4 us-gaap Stockholders Equity
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6506107 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
4679090 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
17477162 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
10084192 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
9686181 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
8848235 USD
CY2019Q2 us-gaap Sublease Income
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99938 USD
us-gaap Sublease Income
SubleaseIncome
199875 USD
CY2018Q2 us-gaap Unrealized Gain Loss On Derivatives
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711229 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
581540 USD
CY2019Q2 us-gaap Unrealized Gain Loss On Derivatives
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23789 USD
us-gaap Unrealized Gain Loss On Derivatives
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14028 USD
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1004391 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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5241924 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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4667434 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1237244 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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1004391 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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5241924 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4667434 shares

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