$EVTV
Envirotech Vehicles, Inc.

2019 Q1 Form 10-Q Financial Statement

#000156459019015727 Filed on May 03, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $420.0K $464.0K
YoY Change -9.48%
Cost Of Revenue $391.0K $479.0K
YoY Change -18.37%
Gross Profit $29.00K -$15.00K
YoY Change -293.33%
Gross Profit Margin 6.9% -3.23%
Selling, General & Admin $1.470M $3.960M
YoY Change -62.88% 200.0%
% of Gross Profit 5068.97%
Research & Development $45.00K $155.9K
YoY Change -71.14% 164.29%
% of Gross Profit 155.17%
Depreciation & Amortization $11.68K $8.237K
YoY Change 41.75% 190.96%
% of Gross Profit 40.26%
Operating Expenses $1.519M $4.120M
YoY Change -63.13% 199.64%
Operating Profit -$1.490M -$4.135M
YoY Change -63.97% 200.73%
Interest Expense $26.00K $5.000K
YoY Change 420.0% -97.67%
% of Operating Profit
Other Income/Expense, Net $41.00K $61.00K
YoY Change -32.79% -132.28%
Pretax Income -$1.449M -$4.074M
YoY Change -64.43% 160.49%
Income Tax $3.000K
% Of Pretax Income
Net Earnings -$1.449M -$4.077M
YoY Change -64.46% 160.34%
Net Earnings / Revenue -345.0% -878.66%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.40 -$1.14
COMMON SHARES
Basic Shares Outstanding 72.73M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.710M $8.200M
YoY Change -5.98% 1682.61%
Cash & Equivalents $2.385M $8.199M
Short-Term Investments $5.330M
Other Short-Term Assets $1.198M $1.658M
YoY Change -27.74% 34.36%
Inventory $210.0K
Prepaid Expenses
Receivables $382.7K $464.0K
Other Receivables $109.0K $1.000M
Total Short-Term Assets $9.595M $11.53M
YoY Change -16.79% 362.91%
LONG-TERM ASSETS
Property, Plant & Equipment $145.0K $482.1K
YoY Change -69.92% 7.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $486.0K $368.0K
YoY Change 32.07% 204.13%
Total Long-Term Assets $631.0K $850.0K
YoY Change -25.76% 23.01%
TOTAL ASSETS
Total Short-Term Assets $9.595M $11.53M
Total Long-Term Assets $631.0K $850.0K
Total Assets $10.23M $12.38M
YoY Change -17.41% 289.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $359.0K $176.0K
YoY Change 103.98% -35.77%
Accrued Expenses $741.0K $904.0K
YoY Change -18.03% 623.2%
Deferred Revenue
YoY Change
Short-Term Debt $2.500M $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $3.600M $1.080M
YoY Change 233.33% -82.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $201.0K $271.0K
YoY Change -25.83%
Total Long-Term Liabilities $201.0K $271.0K
YoY Change -25.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.600M $1.080M
Total Long-Term Liabilities $201.0K $271.0K
Total Liabilities $3.801M $1.351M
YoY Change 181.35% -77.94%
SHAREHOLDERS EQUITY
Retained Earnings -$55.47M -$47.05M
YoY Change 17.89% 107.84%
Common Stock $1.000K $1.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.425M $11.03M
YoY Change
Total Liabilities & Shareholders Equity $10.23M $12.38M
YoY Change -17.41% 289.09%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$1.449M -$4.077M
YoY Change -64.46% 160.34%
Depreciation, Depletion And Amortization $11.68K $8.237K
YoY Change 41.75% 190.96%
Cash From Operating Activities -$794.0K -$1.974M
YoY Change -59.78% 166.4%
INVESTING ACTIVITIES
Capital Expenditures $7.000K $3.000K
YoY Change 133.33% -91.43%
Acquisitions
YoY Change
Other Investing Activities -$1.380M
YoY Change
Cash From Investing Activities -$1.387M -$3.000K
YoY Change 46133.33% -91.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.00M
YoY Change
Debt Paid & Issued, Net $2.149M
YoY Change 21390.0%
Cash From Financing Activities 807.0K 7.730M
YoY Change -89.56% 2459.6%
NET CHANGE
Cash From Operating Activities -794.0K -1.974M
Cash From Investing Activities -1.387M -3.000K
Cash From Financing Activities 807.0K 7.730M
Net Change In Cash -1.374M 5.753M
YoY Change -123.88% -1313.71%
FREE CASH FLOW
Cash From Operating Activities -$794.0K -$1.974M
Capital Expenditures $7.000K $3.000K
Free Cash Flow -$801.0K -$1.977M
YoY Change -59.48% 154.77%

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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Organization and Operations</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ADOMANI, Inc. (&#8220;we&#8221;, &#8220;us&#8221;, &#8220;our&#8221; or the &#8220;Company&#8221;) designs and causes to be designed&nbsp;&nbsp;advanced zero-emission electric and hybrid drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles. The Company also designs and causes to be designed re-power conversion kits to replace conventional drivetrain systems for combustion powered vehicles with zero-emission electric or hybrid drivetrain systems. The Company is&nbsp;&nbsp;also a provider of new zero-emission electric and hybrid vehicles&nbsp;&nbsp;focused on total cost of ownership. The Company&#8217;s drivetrain systems and vehicles are designed to help fleet operators unlock the benefits of green technology and address the challenges of local, state and federal regulatory compliance and traditional-fuel price cost instability.</p>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
135000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
24522338
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
9277057
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.15
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.10
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
1.31
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.15
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.10
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y7M6D
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y4M24D
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y8M12D
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
6900000
CY2019Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2019-12-31
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
475209
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
121161
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Two And Three Years
OperatingLeasesFutureMinimumPaymentsDueInTwoAndThreeYears
239616
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Four And Five Years
OperatingLeasesFutureMinimumPaymentsDueInFourAndFiveYears
114432
CY2019Q1 adom Employment Contracts Future Minimum Payments Due
EmploymentContractsFutureMinimumPaymentsDue
665000
CY2019Q1 adom Employment Contracts Future Minimum Payments Due Next Twelve Months
EmploymentContractsFutureMinimumPaymentsDueNextTwelveMonths
315000
CY2019Q1 adom Employment Contracts Future Minimum Payments Due In Two And Three Years
EmploymentContractsFutureMinimumPaymentsDueInTwoAndThreeYears
350000
CY2019Q1 us-gaap Contractual Obligation
ContractualObligation
1140209
CY2019Q1 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
436161
CY2019Q1 us-gaap Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
589616
CY2019Q1 us-gaap Contractual Obligation Due In Fourth And Fifth Year
ContractualObligationDueInFourthAndFifthYear
114432

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