$EVTV
Envirotech Vehicles, Inc.

2020 Q4 Form 10-K Financial Statement

#000156459021017115 Filed on March 31, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 2019 Q4
Revenue $40.00K $618.0K $2.010M
YoY Change -98.01% -95.08% 70.34%
Cost Of Revenue $20.00K $303.0K $1.850M
YoY Change -98.92% -97.39% 60.87%
Gross Profit $20.00K $315.0K $160.0K
YoY Change -87.5% -66.27% 300.0%
Gross Profit Margin 50.0% 50.97% 7.96%
Selling, General & Admin $930.0K $4.577M $1.400M
YoY Change -33.57% -24.2% 2.19%
% of Gross Profit 4650.0% 1453.02% 875.0%
Research & Development $70.00K $75.00K
YoY Change -31.04%
% of Gross Profit 350.0% 23.81%
Depreciation & Amortization $0.00 $44.33K $10.00K
YoY Change -100.0% -8.75% 0.0%
% of Gross Profit 0.0% 14.07% 6.25%
Operating Expenses $1.010M $75.00K $1.350M
YoY Change -25.19% -31.04% -4.26%
Operating Profit -$990.0K $240.0K -$1.190M
YoY Change -16.81% -70.92% -13.14%
Interest Expense -$70.00K -$49.00K -$10.00K
YoY Change 600.0% -216.67% -125.0%
% of Operating Profit -20.42%
Other Income/Expense, Net $10.00K -$49.00K $10.00K
YoY Change 0.0% -181.67% -66.67%
Pretax Income -$1.050M -$4.386M -$1.190M
YoY Change -11.76% -14.88% -9.16%
Income Tax -$218.3K
% Of Pretax Income
Net Earnings -$1.050M -$4.386M -$1.192M
YoY Change -11.91% -14.88% -8.73%
Net Earnings / Revenue -2625.0% -709.71% -59.3%
Basic Earnings Per Share
Diluted Earnings Per Share -$12.78K -$58.03K -$0.33
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.136M $4.136M $7.200M
YoY Change -42.56% -42.58% -6.61%
Cash & Equivalents $4.136M $4.136M $4.432M
Short-Term Investments $0.00 $0.00 $2.770M
Other Short-Term Assets $15.00K $1.099M $41.00K
YoY Change -63.41% -11.26% 1950.0%
Inventory $0.00 $353.7K $494.2K
Prepaid Expenses $1.083M $1.197M
Receivables $13.61K $13.61K $661.4K
Other Receivables $0.00 $0.00 $40.00K
Total Short-Term Assets $1.939M $5.602M $9.636M
YoY Change -79.88% -41.86% -5.34%
LONG-TERM ASSETS
Property, Plant & Equipment $227.6K $512.7K $111.8K
YoY Change 103.46% 55.21% -25.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $242.0K $53.28K $569.0K
YoY Change -57.46% -84.81% 13.12%
Total Long-Term Assets $469.6K $566.0K $681.0K
YoY Change -31.04% -16.89% 4.29%
TOTAL ASSETS
Total Short-Term Assets $1.939M $5.602M $9.636M
Total Long-Term Assets $469.6K $566.0K $681.0K
Total Assets $2.409M $6.168M $10.32M
YoY Change -76.65% -40.22% -4.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $345.4K $9.000K $418.0K
YoY Change -17.37% -97.85% 22.22%
Accrued Expenses $2.383M $897.0K $649.0K
YoY Change 267.13% 38.21% -32.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $5.820M
YoY Change -100.0% -100.0% 242.35%
Long-Term Debt Due $200.0K $204.0K
YoY Change
Total Short-Term Liabilities $2.728M $1.110M $6.887M
YoY Change -60.39% -83.88% 128.8%
LONG-TERM LIABILITIES
Long-Term Debt $210.0K $207.0K $0.00
YoY Change
Other Long-Term Liabilities $216.0K $216.0K $148.0K
YoY Change 45.95% 45.95% -32.42%
Total Long-Term Liabilities $216.0K $423.0K $148.0K
YoY Change 45.95% 185.81% -32.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.728M $1.110M $6.887M
Total Long-Term Liabilities $216.0K $423.0K $148.0K
Total Liabilities $2.881M $1.533M $7.035M
YoY Change -59.05% -78.21% 117.87%
SHAREHOLDERS EQUITY
Retained Earnings -$472.3K -$59.18M
YoY Change -99.2% 9.54%
Common Stock $100.00 $1.000K
YoY Change -90.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$472.2K $4.635M $3.282M
YoY Change
Total Liabilities & Shareholders Equity $2.409M $6.168M $10.32M
YoY Change -76.65% -40.22% -4.76%

Cashflow Statement

Concept 2020 Q4 2020 2019 Q4
OPERATING ACTIVITIES
Net Income -$1.050M -$4.386M -$1.192M
YoY Change -11.91% -14.88% -8.73%
Depreciation, Depletion And Amortization $0.00 $44.33K $10.00K
YoY Change -100.0% -8.75% 0.0%
Cash From Operating Activities -$1.400M -$2.961M -$1.510M
YoY Change -7.28% -35.38% 259.52%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$12.00K $0.00
YoY Change -192.31% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.770M $2.010M
YoY Change -100.0% 142.77% -151.15%
Cash From Investing Activities $0.00 $2.758M $2.010M
YoY Change -100.0% 144.5% -151.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.425M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.320M -93.00K 870.0K
YoY Change 511.49% -102.25% 190.0%
NET CHANGE
Cash From Operating Activities -1.400M -2.961M -1.510M
Cash From Investing Activities 0.000 2.758M 2.010M
Cash From Financing Activities 5.320M -93.00K 870.0K
Net Change In Cash 3.920M -296.0K 1.370M
YoY Change 186.13% -143.98% -133.74%
FREE CASH FLOW
Cash From Operating Activities -$1.400M -$2.961M -$1.510M
Capital Expenditures $0.00 -$12.00K $0.00
Free Cash Flow -$1.400M -$2.949M -$1.510M
YoY Change -7.28% -35.82% 251.16%

Facts In Submission

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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1. Organization and <font style="color:#000000;">Operations</font></p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:5.24%;color:#000000;font-family:Times New Roman;font-size:10pt;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;) is a provider of new purpose-built zero-emission electric vehicles focused on total cost of ownership. We are also a provider of advanced zero-emission electric drivetrain systems for integration in new buses and medium to heavy-duty commercial fleet vehicles. The Company also provides re-power conversion kits to replace conventional drivetrain systems for combustion powered vehicles with zero-emission electric drivetrain systems.&nbsp;&nbsp;The Company&#8217;s vehicles and drivetrain systems 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<font style="color:#000000;">.</font></p>
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5655726
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4809450
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5930617
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5084341
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5930617
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5084341
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2019Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2020Q4 adom Operating Loss Carryforwards At Specified Rate
OperatingLossCarryforwardsAtSpecifiedRate
5655726
CY2019Q4 adom Operating Loss Carryforwards At Specified Rate
OperatingLossCarryforwardsAtSpecifiedRate
4809450
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q1 us-gaap Foreclosed Assets
ForeclosedAssets
582000000
CY2020Q1 adom Consulting Arrangement Monthly Fee
ConsultingArrangementMonthlyFee
8200
CY2020Q1 adom Consulting Monthly Cash Fee Paid
ConsultingMonthlyCashFeePaid
3200
CY2019Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
7556323
CY2018Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
7556323
CY2020 adom Class Of Warrant Or Right Issued During Period
ClassOfWarrantOrRightIssuedDuringPeriod
8625001
CY2020 adom Class Of Warrant Or Right Exchanged For Common Stock
ClassOfWarrantOrRightExchangedForCommonStock
-5499997
CY2020Q4 adom Class Of Warrant Or Right Exercisable
ClassOfWarrantOrRightExercisable
2056326
CY2018Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.45
CY2019Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.45
CY2020 adom Class Of Warrant Or Right Issued During Period Exercise Price
ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice
0.50
CY2020 adom Class Of Warrant Or Right Exchanged For Common Stock Exercise Price
ClassOfWarrantOrRightExchangedForCommonStockExercisePrice
4.50
CY2020Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.33
CY2020Q4 adom Class Of Warrant Or Right Exercisable Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisableExercisePriceOfWarrantsOrRights
4.33
CY2018 adom Class Of Warrant Or Right Exercisable Weighted Average Remaining Contractual Life
ClassOfWarrantOrRightExercisableWeightedAverageRemainingContractualLife
P3Y9M18D
CY2019 adom Class Of Warrant Or Right Exercisable Weighted Average Remaining Contractual Life
ClassOfWarrantOrRightExercisableWeightedAverageRemainingContractualLife
P2Y9M18D
CY2020 adom Class Of Warrant Or Right Outstanding Weighted Average Remaining Contractual Life
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractualLife
P4Y2M12D
CY2020 adom Class Of Warrant Or Right Exercisale Weighted Average Remaining Contractual Life
ClassOfWarrantOrRightExercisaleWeightedAverageRemainingContractualLife
P1Y1M6D
CY2020Q4 adom Class Of Warrant Or Right Intrinsic Value
ClassOfWarrantOrRightIntrinsicValue
0
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
24728422
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1095000
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
71084
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
135000
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.10
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
7465570
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.15
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.45
CY2019Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
adom:CurrentLiabilitiesRelatingToRightOfUseAssetMember
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
215757
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
148012
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
1.31
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.16
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.42
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.15
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.31
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y7M6D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y10M24D
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y10M24D
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y3M18D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1000000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
450985
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
211884
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two And Three Years
OperatingLeasesFutureMinimumPaymentsDueInTwoAndThreeYears
239101
CY2020Q4 adom Employment Contracts Future Minimum Payments Due
EmploymentContractsFutureMinimumPaymentsDue
263000
CY2020Q4 adom Employment Contracts Future Minimum Payments Due Next Twelve Months
EmploymentContractsFutureMinimumPaymentsDueNextTwelveMonths
263000
CY2020Q4 us-gaap Contractual Obligation
ContractualObligation
713985
CY2020Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
474884
CY2020Q4 us-gaap Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
239101
CY2019Q2 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
13500000.00
CY2019Q2 adom Number Of Shares Refused To Release
NumberOfSharesRefusedToRelease
1320359
CY2020Q2 us-gaap Foreclosed Assets
ForeclosedAssets
582000
CY2020Q4 adom Lessee Operating Lease Number Of Leases
LesseeOperatingLeaseNumberOfLeases
2
CY2020Q4 adom Operating Lease Liability Other Non Current Assets
OperatingLeaseLiabilityOtherNonCurrentAssets
411058
CY2019Q4 adom Operating Lease Liability Other Non Current Assets
OperatingLeaseLiabilityOtherNonCurrentAssets
218504
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
195301
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
70492
CY2020Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
adom:CurrentLiabilitiesRelatingToRightOfUseAssetMember
CY2020Q4 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
adom:NonCurrentLiabilitiesRelatingToRightOfUseAssetMember
CY2019Q4 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
adom:NonCurrentLiabilitiesRelatingToRightOfUseAssetMember
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
273965
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
109590
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
294073
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
117857
CY2020 us-gaap Lease Cost
LeaseCost
568038
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y14D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y1M28D
CY2019 us-gaap Lease Cost
LeaseCost
227447
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
282102
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
115852
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.14
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.14

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