$CRTG
CORETEC GROUP INC.

2016 Q1 Form 10-Q Financial Statement

#000114420416102782 Filed on May 16, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $0.00 $5.122K
YoY Change -100.0% -86.78%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $230.0K $260.0K
YoY Change -11.54% -31.58%
% of Gross Profit
Research & Development $12.75K $42.91K
YoY Change -70.29% -28.88%
% of Gross Profit
Depreciation & Amortization $279.00
YoY Change
% of Gross Profit
Operating Expenses $44.46K $42.91K
YoY Change 3.62% -28.88%
Operating Profit -$44.46K
YoY Change
Interest Expense $4.571K $8.624K
YoY Change -47.0% -62.19%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$230.0K -$310.0K
YoY Change -25.81% -26.19%
Income Tax
% Of Pretax Income
Net Earnings -$49.04K -$305.3K
YoY Change -83.94% -27.75%
Net Earnings / Revenue -5959.72%
Basic Earnings Per Share
Diluted Earnings Per Share -$49.78K -$161.5K
COMMON SHARES
Basic Shares Outstanding 1.384B shares 612.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00
YoY Change -100.0%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $10.00K $10.00K
YoY Change 0.0% -50.0%
Inventory
Prepaid Expenses
Receivables $10.00K
Other Receivables $0.00
Total Short-Term Assets $10.00K $17.74K
YoY Change -43.64% -45.17%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $10.00K
YoY Change -100.0% -50.0%
Total Long-Term Assets $10.00K $14.61K
YoY Change -31.53% -2.9%
TOTAL ASSETS
Total Short-Term Assets $10.00K $17.74K
Total Long-Term Assets $10.00K $14.61K
Total Assets $20.00K $32.35K
YoY Change -38.18% -31.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $310.0K $417.4K
YoY Change -25.73% 88.85%
Accrued Expenses $80.00K $240.0K
YoY Change -66.67% 300.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $60.00K $400.0K
YoY Change -85.0% -20.0%
Total Short-Term Liabilities $460.0K $1.074M
YoY Change -57.18% 15.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $460.0K $1.074M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $460.0K $1.074M
YoY Change -57.18% 15.48%
SHAREHOLDERS EQUITY
Retained Earnings -$22.38M
YoY Change
Common Stock $21.94M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$439.1K -$1.040M
YoY Change
Total Liabilities & Shareholders Equity $16.26K $30.00K
YoY Change -45.81% -36.71%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$49.04K -$305.3K
YoY Change -83.94% -27.75%
Depreciation, Depletion And Amortization $279.00
YoY Change
Cash From Operating Activities -$8.175K -$163.4K
YoY Change -95.0% -25.2%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 $131.7K
YoY Change -100.0% -16.21%
NET CHANGE
Cash From Operating Activities -$8.175K -$163.4K
Cash From Investing Activities
Cash From Financing Activities $0.00 $131.7K
Net Change In Cash -$8.175K -$31.74K
YoY Change -74.24% -48.24%
FREE CASH FLOW
Cash From Operating Activities -$8.175K -$163.4K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q1 us-gaap Common Stock Value
CommonStockValue
276880 USD
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
274191 USD
CY2016Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
21665334 USD
CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
20545939 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-22381690 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-22158990 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
-439088 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-1338791 USD
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
16257 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
34757 USD
CY2015Q1 us-gaap Revenue From Grants
RevenueFromGrants
5122 USD
CY2016Q1 us-gaap Revenue From Grants
RevenueFromGrants
0 USD
CY2015Q1 us-gaap Revenues
Revenues
5122 USD
CY2016Q1 us-gaap Revenues
Revenues
0 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2625 USD
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
219011 USD
CY2016Q1 us-gaap Interest Expense
InterestExpense
1064 USD
CY2015Q1 us-gaap Costs And Expenses
CostsAndExpenses
310379 USD
CY2016Q1 us-gaap Costs And Expenses
CostsAndExpenses
222700 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-222700 USD
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.0005
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-305257 USD
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.0002
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
577648385 shares
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1379418506 shares
CY2016Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
119007 USD
CY2016Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0475 pure
CY2013Q3 us-gaap Grants Receivable
GrantsReceivable
300000 USD
CY2015Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
22500 USD
CY2016Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 USD
CY2015Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-1499 USD
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
0 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5122 USD
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-8814 USD
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-7274 USD
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
204200 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
118666 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9686 USD
CY2016Q1 tdcp Conversion Price Of Stock
ConversionPriceOfStock
0.05
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
55000 USD
CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0002
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0002
CY2016Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1500000000 shares
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1500000000 shares
CY2016Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1384399201 shares
CY2016Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1384399201 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1370953255 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1370953255 shares
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-SIZE: 10pt">Use of Estimates</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font>&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingent assets and liabilities. Actual results could differ from the estimates and assumptions used.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-163438 USD
CY2016Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
0 USD
CY2015Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
32700 USD
CY2016Q1 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
-9686 USD
CY2014Q4 us-gaap Cash
Cash
34485 USD
CY2015Q1 us-gaap Cash
Cash
2747 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
17000 USD
CY2016Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2015-07-31
CY2016Q1 tdcp Lease Agreement Signed Date
LeaseAgreementSignedDate
2015-07-02
CY2016Q1 tdcp Extended Lease Expiration Date
ExtendedLeaseExpirationDate
2018-07-31
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
24000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
14000 USD
CY2014Q1 tdcp Warrants To Purchase Of Common Stock
WarrantsToPurchaseOfCommonStock
50 shares
CY2016Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
0 USD
CY2016Q1 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
119007 USD
CY2015Q1 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
109701 USD
CY2016Q1 us-gaap Stock Issued1
StockIssued1
1003396 USD
CY2015Q1 us-gaap Stock Issued1
StockIssued1
37500 USD
us-gaap Net Income Loss
NetIncomeLoss
22381690 USD
CY2016Q1 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
At the option of the holder, Series B Preferred may be converted in whole or in part, from time to time, into One Thousand Nine Hundred Fourteen (1,914) shares of Common Stock. The Series B Preferred Stock will automatically be converted into Common Stock if (i) at anytime the 5 day average VWAP of the Company&#8217;s Common Stock prior to such automatic conversion is equal to $0.10 or more; or (ii) the Company enters into a transaction for which the Company enters into a share exchange agreement or agreement and plan of merger, which agreement is executed within ninety (90) days after the date of the Certificate of Designation and pursuant to which the Company thereafter becomes a consolidated company with another entity, and the Company issues equity securities of the Company.
CY2016Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
99000 USD
CY2016Q1 us-gaap Dividends Payable Current
DividendsPayableCurrent
48000 USD

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tdcp-20160331_lab.xml Edgar Link unprocessable
tdcp-20160331_pre.xml Edgar Link unprocessable
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