$CRTG
CORETEC GROUP INC.

2018 Q1 Form 10-Q Financial Statement

#000143774918009915 Filed on May 15, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $220.0K $280.0K
YoY Change -21.43% 21.74%
% of Gross Profit
Research & Development $20.92K $105.4K
YoY Change -80.15% 726.56%
% of Gross Profit
Depreciation & Amortization $190.00 $279.00
YoY Change -31.9% 0.0%
% of Gross Profit
Operating Expenses $20.92K $386.7K
YoY Change -94.59% 769.69%
Operating Profit -$386.7K
YoY Change 769.69%
Interest Expense $96.33K $42.17K
YoY Change 128.46% 822.47%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$340.0K -$430.0K
YoY Change -20.93% 86.96%
Income Tax
% Of Pretax Income
Net Earnings -$338.6K -$428.9K
YoY Change -21.06% 774.61%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$5.054K -$87.22K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $140.0K $110.0K
YoY Change 27.27%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $30.00K $40.00K
YoY Change -25.0% 300.0%
Inventory
Prepaid Expenses $26.60K $29.45K
Receivables
Other Receivables
Total Short-Term Assets $169.2K $150.9K
YoY Change 12.14% 1408.68%
LONG-TERM ASSETS
Property, Plant & Equipment $1.449K $5.852K
YoY Change -75.24%
Goodwill $166.0K $166.0K
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change
Total Long-Term Assets $1.449M $1.529M
YoY Change -5.21% 15191.32%
TOTAL ASSETS
Total Short-Term Assets $169.2K $150.9K
Total Long-Term Assets $1.449M $1.529M
Total Assets $1.619M $1.680M
YoY Change -3.66% 8300.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $580.0K $440.0K
YoY Change 31.82% 41.94%
Accrued Expenses $330.0K $130.0K
YoY Change 153.85% 62.5%
Deferred Revenue
YoY Change
Short-Term Debt $70.00K $100.0K
YoY Change -30.0%
Long-Term Debt Due $1.390M
YoY Change
Total Short-Term Liabilities $2.381M $668.4K
YoY Change 256.24% 45.3%
LONG-TERM LIABILITIES
Long-Term Debt $40.00K $1.190M
YoY Change -96.64%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $40.00K $1.190M
YoY Change -96.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.381M $668.4K
Total Long-Term Liabilities $40.00K $1.190M
Total Liabilities $2.420M $1.860M
YoY Change 30.11% 304.31%
SHAREHOLDERS EQUITY
Retained Earnings -$2.932M -$1.309M
YoY Change 123.98% -94.15%
Common Stock $13.52K $1.133M
YoY Change -98.81% -94.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$801.2K -$174.9K
YoY Change
Total Liabilities & Shareholders Equity $1.619M $1.685M
YoY Change -3.94% 10264.28%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$338.6K -$428.9K
YoY Change -21.06% 774.61%
Depreciation, Depletion And Amortization $190.00 $279.00
YoY Change -31.9% 0.0%
Cash From Operating Activities -$315.3K -$263.1K
YoY Change 19.83% 3118.64%
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 -12.75K 374.5K
YoY Change -103.4%
NET CHANGE
Cash From Operating Activities -315.3K -263.1K
Cash From Investing Activities
Cash From Financing Activities -12.75K 374.5K
Net Change In Cash -328.0K 111.4K
YoY Change -394.53% -1462.45%
FREE CASH FLOW
Cash From Operating Activities -$315.3K -$263.1K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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AdjustmentsToAdditionalPaidInCapitalWarrantsExercised
24525
CY2018Q1 crtg Assets Excluding Property And Equipment Noncurrent
AssetsExcludingPropertyAndEquipmentNoncurrent
1447971
CY2017Q4 crtg Assets Excluding Property And Equipment Noncurrent
AssetsExcludingPropertyAndEquipmentNoncurrent
1468029
CY2016Q4 crtg Product Scale Up And Manufacturing Optimization Cost
ProductScaleUpAndManufacturingOptimizationCost
180000
CY2016Q4 crtg Product Scale Up And Manufacturing Optimization Cost First Installment
ProductScaleUpAndManufacturingOptimizationCostFirstInstallment
18000
CY2017Q1 crtg Stock Issued Upon Conversion Of Debentures And Warrants
StockIssuedUponConversionOfDebenturesAndWarrants
CY2016Q4 crtg Supply Agreement Term
SupplyAgreementTerm
P3Y
CY2016Q4 crtg Product Scale Up And Manufacturing Optimization Cost Second Installment
ProductScaleUpAndManufacturingOptimizationCostSecondInstallment
162000
CY2018Q1 crtg Stock Issued To Settle Liabilities From Services Received
StockIssuedToSettleLiabilitiesFromServicesReceived
71879
CY2017Q1 crtg Stock Issued To Settle Liabilities From Services Received
StockIssuedToSettleLiabilitiesFromServicesReceived
CY2018Q1 crtg Stock Issued Upon Conversion Of Debentures And Warrants
StockIssuedUponConversionOfDebenturesAndWarrants
24750
CY2018Q1 crtg Working Capital Deficit
WorkingCapitalDeficit
-2211878
CY2018Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
581714
CY2017Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
755481
CY2018Q1 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
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CY2017Q4 us-gaap Accounts Payable Related Parties Current
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CY2018Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
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CY2017Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
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CY2018Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
45111
CY2017Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
357
CY2018Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20058
CY2017Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
23391
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
105455239
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2018Q1 us-gaap Assets
Assets
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CY2017Q4 us-gaap Assets
Assets
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CY2018Q1 us-gaap Assets Current
AssetsCurrent
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CY2017Q4 us-gaap Assets Current
AssetsCurrent
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CY2017Q4 us-gaap Cash
Cash
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CY2016Q4 us-gaap Cash
Cash
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CY2018Q1 us-gaap Cash
Cash
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CY2017Q1 us-gaap Cash
Cash
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CY2018Q1 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
-328049
CY2017Q1 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
111380
CY2018Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0002
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0002
CY2018Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1500000000
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1500000000
CY2018Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2018Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
66785428
CY2018Q1 us-gaap Common Stock Value
CommonStockValue
13517
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
13357
CY2018Q1 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
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CY2017Q4 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
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CY2018Q1 us-gaap Costs And Expenses
CostsAndExpenses
338554
CY2017Q1 us-gaap Costs And Expenses
CostsAndExpenses
428867
CY2018Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
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CY2017Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
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CY2018Q1 us-gaap Depreciation
Depreciation
190
CY2017Q1 us-gaap Depreciation
Depreciation
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CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.005
CY2017Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.087
CY2018Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1279656
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2018Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2017Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-263124
us-gaap Net Income Loss
NetIncomeLoss
-2931891
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-338554
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-428867
CY2018Q1 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
1393232
CY2017Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
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CY2018Q1 us-gaap Goodwill
Goodwill
166000
CY2017Q4 us-gaap Goodwill
Goodwill
166000
CY2018Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-50870
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
126312
CY2018Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-8763
CY2017Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-15404
CY2018Q1 us-gaap Interest Expense
InterestExpense
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CY2017Q1 us-gaap Interest Expense
InterestExpense
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CY2018Q1 us-gaap Interest Paid Net
InterestPaidNet
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CY2017Q1 us-gaap Interest Paid Net
InterestPaidNet
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CY2018Q1 us-gaap Interest Payable Current
InterestPayableCurrent
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CY2017Q4 us-gaap Interest Payable Current
InterestPayableCurrent
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CY2018Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
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CY2017Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
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CY2018Q1 us-gaap Liabilities
Liabilities
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CY2017Q4 us-gaap Liabilities
Liabilities
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CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2017Q4 us-gaap Liabilities And Stockholders Equity
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CY2018Q1 us-gaap Liabilities Current
LiabilitiesCurrent
2381054
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2018Q1 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
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CY2017Q4 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
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CY2018Q1 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
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CY2017Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
124422
CY2018Q1 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
12747
CY2017Q1 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
12246
CY2018Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
26595
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
35358
CY2018Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
CY2017Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
386750
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1449
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1638
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20918
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
105370
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2931891
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2593337
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
0
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
CY2017Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
CY2018Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
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CY2018Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
-801194
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-559269
CY2018Q1 us-gaap Use Of Estimates
UseOfEstimates
<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=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP 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.</div></div></div>
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
67278621
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4939182

Files In Submission

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0001437749-18-009915-index-headers.html Edgar Link pending
0001437749-18-009915-index.html Edgar Link pending
0001437749-18-009915.txt Edgar Link pending
0001437749-18-009915-xbrl.zip Edgar Link pending
crtg-20180331.xml Edgar Link completed
crtg-20180331.xsd Edgar Link pending
crtg-20180331_cal.xml Edgar Link unprocessable
crtg-20180331_def.xml Edgar Link unprocessable
crtg-20180331_lab.xml Edgar Link unprocessable
crtg-20180331_pre.xml Edgar Link unprocessable
crtg20180331_10q.htm Edgar Link pending
ex_114180.htm Edgar Link pending
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