2019 Q2 Form 10-Q Financial Statement

#000144736219000011 Filed on September 03, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q4 2018 Q2
Revenue $10.74M $11.44M $3.979M
YoY Change 169.89%
Cost Of Revenue $1.993M $1.370M $1.327M
YoY Change 50.21%
Gross Profit $8.746M $10.07M $2.652M
YoY Change 229.79%
Gross Profit Margin 81.44% 88.06% 66.65%
Selling, General & Admin $6.821M $4.080M $4.160M
YoY Change 63.98%
% of Gross Profit 77.99% 40.52% 156.85%
Research & Development $1.317M $1.140M $1.159M
YoY Change 13.61%
% of Gross Profit 15.06% 11.32% 43.71%
Depreciation & Amortization $86.00K $80.00K $71.08K
YoY Change 20.99%
% of Gross Profit 0.98% 0.79% 2.68%
Operating Expenses $8.138M $5.300M $5.319M
YoY Change 53.0%
Operating Profit $608.0K $4.770M -$2.666M
YoY Change -122.8%
Interest Expense $1.693M -$650.0K $524.8K
YoY Change 222.57%
% of Operating Profit 278.45% -13.63%
Other Income/Expense, Net -$189.0K -$240.0K $34.04K
YoY Change -655.26%
Pretax Income -$1.270M $3.880M -$3.150M
YoY Change -59.68%
Income Tax $0.00 $10.00K $0.00
% Of Pretax Income 0.26%
Net Earnings -$1.269M $3.868M -$3.155M
YoY Change -59.78%
Net Earnings / Revenue -11.82% 33.82% -79.29%
Basic Earnings Per Share -$1.05 $1.49 -$2.15
Diluted Earnings Per Share -$1.05 $0.38 -$2.15
COMMON SHARES
Basic Shares Outstanding 2.153M shares
Diluted Shares Outstanding 2.153M shares

Balance Sheet

Concept 2019 Q2 2018 Q4 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.50M
YoY Change
Cash & Equivalents $17.47M $4.479M $5.205M
Short-Term Investments
Other Short-Term Assets $800.0K
YoY Change
Inventory $550.9K $882.0K
Prepaid Expenses
Receivables $9.730M $12.09M
Other Receivables $0.00
Total Short-Term Assets $28.52M $18.13M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.743M $1.529M
YoY Change
Goodwill
YoY Change
Intangibles $0.00 $4.000K
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.813M $214.0K
YoY Change
Total Long-Term Assets $4.823M $4.279M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $28.52M $18.13M
Total Long-Term Assets $4.823M $4.279M
Total Assets $33.35M $22.41M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.085M $1.451M
YoY Change
Accrued Expenses $4.400M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $4.426M $0.00
YoY Change
Long-Term Debt Due $833.3K $0.00
YoY Change
Total Short-Term Liabilities $11.75M $6.737M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $23.86M $24.50M
YoY Change
Other Long-Term Liabilities $1.300M
YoY Change
Total Long-Term Liabilities $23.86M $24.50M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $11.75M $6.737M
Total Long-Term Liabilities $23.86M $24.50M
Total Liabilities $36.94M $32.48M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$60.10M -$57.49M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$50.20M -$56.57M -$57.05M
YoY Change
Total Liabilities & Shareholders Equity $33.35M $22.41M
YoY Change

Cashflow Statement

Concept 2019 Q2 2018 Q4 2018 Q2
OPERATING ACTIVITIES
Net Income -$1.269M $3.868M -$3.155M
YoY Change -59.78%
Depreciation, Depletion And Amortization $86.00K $80.00K $71.08K
YoY Change 20.99%
Cash From Operating Activities $480.0K -$3.210M -$4.700M
YoY Change -110.21%
INVESTING ACTIVITIES
Capital Expenditures -$180.0K -$10.00K -$150.0K
YoY Change 20.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$180.0K -$10.00K -$150.0K
YoY Change 20.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 930.0K 4.420M 6.030M
YoY Change -84.58%
NET CHANGE
Cash From Operating Activities 480.0K -3.210M -4.700M
Cash From Investing Activities -180.0K -10.00K -150.0K
Cash From Financing Activities 930.0K 4.420M 6.030M
Net Change In Cash 1.230M 1.200M 1.180M
YoY Change 4.24%
FREE CASH FLOW
Cash From Operating Activities $480.0K -$3.210M -$4.700M
Capital Expenditures -$180.0K -$10.00K -$150.0K
Free Cash Flow $660.0K -$3.200M -$4.550M
YoY Change -114.51%

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NetCashProvidedByUsedInFinancingActivities
11383572 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11644229 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-184610 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-424473 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7205723 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1770198 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-3154975 USD
us-gaap Net Income Loss
NetIncomeLoss
-6785414 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-1269079 USD
us-gaap Net Income Loss
NetIncomeLoss
-2627062 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4079778 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8568764 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2264746 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4607102 USD
CY2018Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
0 USD
CY2019Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
4755882 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
5318952 USD
us-gaap Operating Expenses
OperatingExpenses
10809433 USD
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
8138164 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-5751309 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
675562 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-2666410 USD
CY2019Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
774885 USD
us-gaap Proceeds From Issuance Of Preferred Stock Preference Stock And Warrants
ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants
10382507 USD
us-gaap Proceeds From Issuance Of Preferred Stock Preference Stock And Warrants
ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants
0 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
1776145 USD
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
607621 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
286177 USD
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
715244 USD
CY2019Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1616866 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
213735 USD
CY2019Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1813311 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-337 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
34038 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
13340 USD
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-189647 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-222575 USD
CY2018Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
0 USD
CY2019Q2 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
3492 USD
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
0 USD
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
453816 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
184610 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
424473 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
0 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
11695495 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1065 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
417550 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2438381 USD
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2755141 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1528996 USD
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1743170 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
1791145 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1159197 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2421887 USD
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1317237 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2711088 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-57488578 USD
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-60115640 USD
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-60100000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3979381 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7637946 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10738569 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19455556 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4159755 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8387546 USD
CY2019Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6820927 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
12867549 USD
us-gaap Share Based Compensation
ShareBasedCompensation
146340 USD
us-gaap Share Based Compensation
ShareBasedCompensation
307229 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.35
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.95
CY2018Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2019Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
4425819 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1065 USD
CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
416634 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
417550 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-50310505 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
-53927397 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
-57053534 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
-56565302 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
-49432154 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
-50202566 USD
CY2018Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
55795 USD
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
105020 USD
CY2019Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
56775 USD
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
112573 USD
CY2018Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
869008 USD
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
1678330 USD
CY2019Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
938892 USD
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
1867467 USD
CY2018Q2 us-gaap Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
5022592 USD
us-gaap Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
9990482 USD
CY2018Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1193726 USD
CY2019Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1279840 USD
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1897084 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1897070 shares
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2152965 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2035393 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#231f20;">A majority of the Company&#8217;s cash and cash equivalents are deposited with a single financial institution. </font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#231f20;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates include revenue recognition, the determination of fair value of the Company&#8217;s preferred stock warrants and convertible debt embedded derivatives, the valuation of stock options, assessing future tax exposure and the realization of deferred tax assets, the useful lives and recoverability of property and equipment, and contingent liabilities. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenues and expenses that are not readily apparent from other sources. Actual results could differ from those estimates and assumptions.</font></div></div>

Files In Submission

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0001447362-19-000011-index-headers.html Edgar Link pending
0001447362-19-000011-index.html Edgar Link pending
0001447362-19-000011.txt Edgar Link pending
0001447362-19-000011-xbrl.zip Edgar Link pending
a630201910-q.htm Edgar Link pending
cstl-20190630.xml Edgar Link completed
cstl-20190630.xsd Edgar Link pending
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