2014 Q1 Form 10-Q Financial Statement

#000119312514140296 Filed on April 11, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q2 2013 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.130M $1.330M $1.590M
YoY Change -28.93% -59.33% 18.66%
% of Gross Profit
Research & Development $1.656M $370.0K $33.37K
YoY Change 4862.28% 208.33% -53.33%
% of Gross Profit
Depreciation & Amortization $80.00K $220.0K $0.00
YoY Change
% of Gross Profit
Operating Expenses $2.876M $1.910M $1.623M
YoY Change 77.2% -43.66% 14.69%
Operating Profit -$2.876M -$1.623M
YoY Change 77.2% 14.69%
Interest Expense $499.3K -$940.0K -$1.060M
YoY Change -147.1%
% of Operating Profit
Other Income/Expense, Net $100.0K $370.0K $320.0K
YoY Change -68.75%
Pretax Income -$3.274M -$2.490M -$2.359M
YoY Change 38.8% -26.55% 66.39%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.274M -$2.490M -$2.359M
YoY Change 38.8% -26.55% 66.39%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$58.95K -$80.95K -$78.07K
COMMON SHARES
Basic Shares Outstanding 55.57M shares 30.89M shares 30.02M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 Q2 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.400M $600.0K $410.0K
YoY Change 1704.88% 114.29% -76.97%
Cash & Equivalents $7.395M $603.7K $412.0K
Short-Term Investments
Other Short-Term Assets $560.0K $240.0K $530.0K
YoY Change 5.66% -68.0% -27.4%
Inventory
Prepaid Expenses $487.8K $139.8K $105.3K
Receivables
Other Receivables
Total Short-Term Assets $7.951M $840.5K $940.8K
YoY Change 745.18% -18.27% -62.52%
LONG-TERM ASSETS
Property, Plant & Equipment $10.03K $0.00 $0.00
YoY Change -100.0%
Goodwill
YoY Change
Intangibles $3.055M $3.317M
YoY Change 8491.66%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.065M $3.317M $3.539M
YoY Change -13.4% 7698.85% 6977.66%
TOTAL ASSETS
Total Short-Term Assets $7.951M $840.5K $940.8K
Total Long-Term Assets $3.065M $3.317M $3.539M
Total Assets $11.02M $4.158M $4.480M
YoY Change 145.92% 288.27% 74.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $738.1K $1.111M $899.9K
YoY Change -17.97% 33.67% 18.4%
Accrued Expenses $50.47K $321.9K $148.9K
YoY Change -66.1% 113.77% 272.25%
Deferred Revenue
YoY Change
Short-Term Debt $250.0K $330.0K $0.00
YoY Change
Long-Term Debt Due $248.4K $328.3K
YoY Change
Total Short-Term Liabilities $2.268M $3.229M $3.930M
YoY Change -42.3% -35.99% -21.39%
LONG-TERM LIABILITIES
Long-Term Debt $1.983M $1.153M $680.0K
YoY Change 191.59% 6700.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.983M $1.153M $680.0K
YoY Change 191.59% 6700.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.268M $3.229M $3.930M
Total Long-Term Liabilities $1.983M $1.153M $680.0K
Total Liabilities $4.251M $4.382M $4.607M
YoY Change -7.73% -13.14% -8.05%
SHAREHOLDERS EQUITY
Retained Earnings -$34.00M
YoY Change
Common Stock $30.43M $16.14M $16.42M
YoY Change 85.29% 6.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 200.0K shares 200.0K shares 200.0K shares
Shareholders Equity $6.765M -$223.9K -$127.3K
YoY Change
Total Liabilities & Shareholders Equity $11.02M $4.158M $4.480M
YoY Change 145.92% 288.27% 74.99%

Cashflow Statement

Concept 2014 Q1 2013 Q2 2013 Q1
OPERATING ACTIVITIES
Net Income -$3.274M -$2.490M -$2.359M
YoY Change 38.8% -26.55% 66.39%
Depreciation, Depletion And Amortization $80.00K $220.0K $0.00
YoY Change
Cash From Operating Activities -$2.740M -$990.0K -$1.230M
YoY Change 122.76% -34.44% -22.15%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
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 0.000 1.180M 220.0K
YoY Change -100.0% 11700.0% -93.21%
NET CHANGE
Cash From Operating Activities -2.740M -990.0K -1.230M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 1.180M 220.0K
Net Change In Cash -2.740M 190.0K -1.010M
YoY Change 171.29% -112.67% -160.84%
FREE CASH FLOW
Cash From Operating Activities -$2.740M -$990.0K -$1.230M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$2.740M -$990.0K -$1.230M
YoY Change 122.76% -34.44% -22.15%

Facts In Submission

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<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>Reclassifications</b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Certain prior year amounts shown in the accompanying consolidated financial statements have been reclassified to conform to the fiscal 2014 presentation. These reclassifications did not have any effect on total current assets, total assets, total current liabilities, total liabilities, total shareholders&#x2019; equity(deficit), or net loss.</p> </div>
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