2020 Q2 Form 10-Q Financial Statement

#000156459020040128 Filed on August 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 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 $1.270M $1.790M $1.890M
YoY Change -29.05% -3.76% 11.18%
% of Gross Profit
Research & Development $830.0K $2.297M $2.990M
YoY Change -63.87% 72.84% 171.82%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $2.100M $4.089M $4.880M
YoY Change -48.64% 28.22% 74.6%
Operating Profit -$4.089M
YoY Change 28.22%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $10.00K -$4.000K -$6.000K
YoY Change -350.0% -45.45%
Pretax Income -$2.590M -$4.090M -$4.880M
YoY Change -36.67% 28.21% 73.67%
Income Tax
% Of Pretax Income
Net Earnings -$2.586M -$4.093M -$4.881M
YoY Change -36.82% 28.35% 73.95%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$2.755M -$6.292M -$9.385M
COMMON SHARES
Basic Shares Outstanding 9.434M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.800M $13.70M $9.100M
YoY Change -35.77% -28.65% -59.56%
Cash & Equivalents $8.764M $13.70M $13.70M
Short-Term Investments
Other Short-Term Assets $83.00K $78.00K $27.00K
YoY Change 6.41% 420.0% 58.82%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $9.800M $15.18M $10.32M
YoY Change -35.45% -27.98% -57.0%
LONG-TERM ASSETS
Property, Plant & Equipment $200.0K $10.00K $12.00K
YoY Change 1900.0% -50.0%
Goodwill $1.867M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $500.0K $755.0K $800.0K
YoY Change -33.77%
Total Long-Term Assets $700.0K $3.035M $3.179M
YoY Change -76.94% 60.84% 67.32%
TOTAL ASSETS
Total Short-Term Assets $9.800M $15.18M $10.32M
Total Long-Term Assets $700.0K $3.035M $3.179M
Total Assets $10.50M $18.22M $13.50M
YoY Change -42.36% -20.68% -47.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0K $753.0K $500.0K
YoY Change -73.44% 6.66% 25.0%
Accrued Expenses $900.0K $1.200M $2.800M
YoY Change -25.0% 71.43% 133.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.100M $1.948M $3.241M
YoY Change -43.53% 29.87% 102.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $200.0K $300.0K
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $200.0K $300.0K
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.100M $1.948M $3.241M
Total Long-Term Liabilities $0.00 $200.0K $300.0K
Total Liabilities $1.100M $2.184M $3.522M
YoY Change -49.63% 50.41% 120.13%
SHAREHOLDERS EQUITY
Retained Earnings -$50.55M -$46.45M
YoY Change 50.88%
Common Stock $66.58M $56.38M
YoY Change 21.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.356M $16.03M $9.929M
YoY Change
Total Liabilities & Shareholders Equity $10.50M $18.22M $13.45M
YoY Change -42.36% -20.68% -48.07%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$2.586M -$4.093M -$4.881M
YoY Change -36.82% 28.35% 73.95%
Depreciation, Depletion And Amortization $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Operating Activities -$3.020M -$4.930M -$4.023M
YoY Change -38.74% 47.6% 77.15%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $107.0K
YoY Change -98.57%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 9.570M 107.0K
YoY Change -100.0% -98.57%
NET CHANGE
Cash From Operating Activities -3.020M -4.930M -4.023M
Cash From Investing Activities 0.000
Cash From Financing Activities 0.000 9.570M 107.0K
Net Change In Cash -3.020M 4.640M -3.916M
YoY Change -165.09% -238.92% -175.02%
FREE CASH FLOW
Cash From Operating Activities -$3.020M -$4.930M -$4.023M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.86%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the Company&#8217;s consolidated financial statements in conformity with GAAP requires management to make informed estimates and assumptions that affect the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the Company&#8217;s unaudited condensed consolidated financial statements and accompanying notes. The most significant estimates in the Company&#8217;s condensed consolidated financial statements relate to stock-based transactions, accruals for liabilities, operating lease liability, and other matters that affect the condensed consolidated financial statements and related disclosures. Actual results could differ materially from those estimates under different assumptions or conditions and the differences may be material to the <font style="color:#000000;">condensed </font>consolidated financial statements. </p>
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