2013 Q3 Form 10-Q Financial Statement

#000110465913082900 Filed on November 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $4.634M $4.292M
YoY Change 7.97% 10.47%
Cost Of Revenue $420.0K $340.0K
YoY Change 23.53% 54.55%
Gross Profit $4.220M $3.950M
YoY Change 6.84% 7.63%
Gross Profit Margin 91.07% 92.04%
Selling, General & Admin $1.930M $1.710M
YoY Change 12.87% 21.28%
% of Gross Profit 45.73% 43.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $309.7K $296.9K
YoY Change 4.3% 25.34%
% of Gross Profit 7.34% 7.52%
Operating Expenses $2.670M $2.361M
YoY Change 13.08% 25.85%
Operating Profit $1.964M $1.931M
YoY Change 1.73% -3.9%
Interest Expense $16.51K $16.43K
YoY Change 0.52% 64.28%
% of Operating Profit 0.84% 0.85%
Other Income/Expense, Net -$10.81K
YoY Change
Pretax Income $1.955M $1.920M
YoY Change 1.84% -4.78%
Income Tax $482.6K $760.2K
% Of Pretax Income 24.69% 39.6%
Net Earnings $1.472M $1.160M
YoY Change 26.99% 1.4%
Net Earnings / Revenue 31.78% 27.02%
Basic Earnings Per Share $0.05 $0.04
Diluted Earnings Per Share $0.04 $0.03
COMMON SHARES
Basic Shares Outstanding 28.61M shares 27.94M shares
Diluted Shares Outstanding 32.21M shares 31.76M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.93M $13.38M
YoY Change 93.8% 12.82%
Cash & Equivalents $25.68M $13.13M
Short-Term Investments $250.0K $250.0K
Other Short-Term Assets $240.0K $510.0K
YoY Change -52.94% 2.0%
Inventory
Prepaid Expenses
Receivables $1.620M $1.620M
Other Receivables $310.0K $190.00
Total Short-Term Assets $28.09M $15.63M
YoY Change 79.77% 10.27%
LONG-TERM ASSETS
Property, Plant & Equipment $38.97M $42.39M
YoY Change -8.08% 26.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $243.4K $269.8K
YoY Change -9.79% 196.27%
Total Long-Term Assets $39.26M $42.99M
YoY Change -8.68% 27.46%
TOTAL ASSETS
Total Short-Term Assets $28.09M $15.63M
Total Long-Term Assets $39.26M $42.99M
Total Assets $67.35M $58.62M
YoY Change 14.9% 22.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $279.6K $438.2K
YoY Change -36.21% -34.47%
Accrued Expenses $490.0K $1.660M
YoY Change -70.48% 514.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.206M $2.780M
YoY Change -20.67% 37.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $250.0K $1.060M
YoY Change -76.42% 12.77%
Total Long-Term Liabilities $250.0K $1.060M
YoY Change -76.42% 12.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.206M $2.780M
Total Long-Term Liabilities $250.0K $1.060M
Total Liabilities $10.95M $10.65M
YoY Change 2.79% 53.3%
SHAREHOLDERS EQUITY
Retained Earnings $25.32M
YoY Change
Common Stock $28.60K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $882.0K
YoY Change 0.0%
Treasury Stock Shares 0.000 shares 788.2K shares
Shareholders Equity $56.40M $47.97M
YoY Change
Total Liabilities & Shareholders Equity $67.35M $58.62M
YoY Change 14.9% 22.37%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $1.472M $1.160M
YoY Change 26.99% 1.4%
Depreciation, Depletion And Amortization $309.7K $296.9K
YoY Change 4.3% 25.34%
Cash From Operating Activities $1.560M $1.620M
YoY Change -3.7% -16.06%
INVESTING ACTIVITIES
Capital Expenditures -$590.0K -$740.0K
YoY Change -20.27% 335.29%
Acquisitions
YoY Change
Other Investing Activities $1.913K $14.68K
YoY Change -86.97% 6.63%
Cash From Investing Activities -$530.0K -$2.730M
YoY Change -80.59% 457.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $117.2K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -280.0K -180.0K
YoY Change 55.56% -103.04%
NET CHANGE
Cash From Operating Activities 1.560M 1.620M
Cash From Investing Activities -530.0K -2.730M
Cash From Financing Activities -280.0K -180.0K
Net Change In Cash 750.0K -1.290M
YoY Change -158.14% -117.5%
FREE CASH FLOW
Cash From Operating Activities $1.560M $1.620M
Capital Expenditures -$590.0K -$740.0K
Free Cash Flow $2.150M $2.360M
YoY Change -8.9% 12.38%

Facts In Submission

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DeferredIncomeTaxExpenseBenefit
72395 USD
CY2013Q3 epm Deferred Rent Expenses
DeferredRentExpenses
-4286 USD
CY2013Q3 epm Increase Decrease In Amount Due From Joint Interest Partner
IncreaseDecreaseInAmountDueFromJointInterestPartner
14614 USD
CY2013Q3 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-53948 USD
CY2013Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1186110 USD
CY2013Q3 us-gaap Increase Decrease In Royalties Payable
IncreaseDecreaseInRoyaltiesPayable
40030 USD
CY2013Q3 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
404677 USD
CY2013Q3 epm Payment For Acquisition Of Oil And Gas Properties
PaymentForAcquisitionOfOilAndGasProperties
50154 USD
CY2013Q3 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1556793 USD
CY2013Q3 epm Payment For Development Of Oil And Gas Properties
PaymentForDevelopmentOfOilAndGasProperties
544060 USD
CY2013Q3 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1913 USD
CY2013Q3 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
66753 USD
CY2013Q3 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
168575 USD
CY2013Q3 epm Payments For Purchase Of Treasury Stock Cost Method
PaymentsForPurchaseOfTreasuryStockCostMethod
117182 USD
CY2013Q3 epm Oil And Natural Gas Properties Incurred Through Recognition Of Asset Retirement Obligations
OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations
45172 USD
CY2013Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
373438 USD
CY2013Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
117182 USD
CY2013Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
168575 USD
CY2013Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
472235 USD
CY2013Q3 epm Proceeds From Recovery Of Short Swing Profits
ProceedsFromRecoveryOfShortSwingProfits
6850 USD
CY2013Q3 epm Recovery Of Short Swing Profits
RecoveryOfShortSwingProfits
6850 USD
CY2013Q3 epm Adjustments To Additional Paid In Capital Recovery Of Short Swing Profits
AdjustmentsToAdditionalPaidInCapitalRecoveryOfShortSwingProfits
6850 USD
CY2013Q3 us-gaap Due To Affiliate Current
DueToAffiliateCurrent
100347 USD
CY2013Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
392474 USD
CY2013Q3 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
131457 USD
CY2013Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
638225 USD
CY2013Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
663488 USD
CY2013Q3 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
8491364 USD
CY2013Q3 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
48579 USD
CY2013Q3 us-gaap Common Stock Value
CommonStockValue
28599 USD
CY2013Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
31057316 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
25316911 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
482636 USD
CY2012Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.396 pure
CY2013Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.247 pure
CY2013Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2012Q3 epm Incremental Common Shares Attributable To Common Stock Warrants Issued In Equity And Financing Transactions
IncrementalCommonSharesAttributableToCommonStockWarrantsIssuedInEquityAndFinancingTransactions
852 shares
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3603945 shares
CY2012Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3824339 shares
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3603945 shares
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3825191 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2013Q3 epm Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
1.99

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