$FCUV
FOCUS UNIVERSAL INC.

2016 Q4 Form 10-Q Financial Statement

#000168316816000574 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $130.0K $257.3K $9.630K
YoY Change 1200.0% 2572.37% -28.4%
Cost Of Revenue $90.00K $190.9K $2.025K
YoY Change 9327.7% -49.38%
Gross Profit $40.00K $66.44K $7.605K
YoY Change 773.61% -19.52%
Gross Profit Margin 30.77% 25.82% 78.97%
Selling, General & Admin $120.0K $120.0K $40.00K
YoY Change 140.0% 200.0% 100.0%
% of Gross Profit 300.0% 180.62% 525.97%
Research & Development $70.00K $53.26K $0.00
YoY Change
% of Gross Profit 175.0% 80.16% 0.0%
Depreciation & Amortization $0.00 $0.00 $83.00
YoY Change -100.0%
% of Gross Profit 0.0% 0.0% 1.09%
Operating Expenses $190.0K $171.5K $44.42K
YoY Change 280.0% 286.15% 77.72%
Operating Profit -$150.0K -$105.1K -$36.82K
YoY Change 200.0% 185.45% 136.84%
Interest Expense $0.00 $0.00 $1.878K
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$10.00K $0.00 $0.00
YoY Change -100.0%
Pretax Income -$160.0K -$99.16K -$38.69K
YoY Change 300.0% 156.26% 148.93%
Income Tax $0.00 $800.00 $800.00
% Of Pretax Income
Net Earnings -$160.0K -$99.96K -$39.49K
YoY Change 300.0% 153.1% 154.07%
Net Earnings / Revenue -123.08% -38.84% -410.1%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 34.57M shares 34.57M shares 6.580M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $340.0K $420.0K $150.0K
YoY Change -59.04% 180.0%
Cash & Equivalents $340.1K $423.5K $149.0K
Short-Term Investments
Other Short-Term Assets $10.00K $10.00K $20.00K
YoY Change 0.0% -50.0% 100.0%
Inventory $68.50K $40.67K
Prepaid Expenses $7.962K $10.43K $16.93K
Receivables $25.56K $35.95K
Other Receivables $0.00 $0.00
Total Short-Term Assets $452.4K $510.5K $177.1K
YoY Change -55.0% 188.27% 1758.2%
LONG-TERM ASSETS
Property, Plant & Equipment $8.517K $4.032K $1.489K
YoY Change 504.9% 170.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $20.00K $20.00K
YoY Change -100.0% 0.0%
Total Long-Term Assets $33.24K $28.76K $26.22K
YoY Change 27.2% 9.7%
TOTAL ASSETS
Total Short-Term Assets $452.4K $510.5K $177.1K
Total Long-Term Assets $33.24K $28.76K $26.22K
Total Assets $485.7K $539.3K $203.3K
YoY Change -52.92% 165.25% 2033.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $370.0K $310.0K $0.00
YoY Change 32.14% -100.0%
Accrued Expenses $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $290.0K
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $431.4K $316.8K $297.2K
YoY Change -13.65% 6.59% 794.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $431.4K $316.8K $297.2K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $431.9K $317.6K $297.8K
YoY Change -13.72% 6.66% 796.57%
SHAREHOLDERS EQUITY
Retained Earnings -$1.352M -$526.1K -$172.9K
YoY Change 523.79% 204.37%
Common Stock $34.58K $34.58K $6.580K
YoY Change 0.0% 425.46% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $53.76K $221.7K -$94.48K
YoY Change
Total Liabilities & Shareholders Equity $485.7K $539.3K $203.3K
YoY Change -52.92% 165.25% 2033.25%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$160.0K -$99.96K -$39.49K
YoY Change 300.0% 153.1% 154.07%
Depreciation, Depletion And Amortization $0.00 $0.00 $83.00
YoY Change -100.0%
Cash From Operating Activities -$80.00K -$60.00K -$50.00K
YoY Change -142.11% 20.0% 400.0%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$10.00K $10.00K $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 0.000 -780.0K
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -80.00K -60.00K -50.00K
Cash From Investing Activities -10.00K 10.00K 0.000
Cash From Financing Activities 0.000 0.000 -780.0K
Net Change In Cash -90.00K -50.00K -830.0K
YoY Change -113.43% -93.98% 8200.0%
FREE CASH FLOW
Cash From Operating Activities -$80.00K -$60.00K -$50.00K
Capital Expenditures -$10.00K $0.00 $0.00
Free Cash Flow -$70.00K -$60.00K -$50.00K
YoY Change -136.84% 20.0% 400.0%

Facts In Submission

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us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Concentrations of Credit Risk </u></i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company limits its exposure to credit loss by investing its cash with high credit quality financial institutions.</font></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Use of estimates</u></i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">In preparing the consolidated financial statements, management makes assumptions, estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of net sales and expenses during the reported periods. Management&#8217;s estimates are based on historical experience and on our expectations that are believed to be reasonable. The combination of these factors forms the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.&#160;&#160;Actual results may differ from our current estimates and those differences may be material.</font></p>
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
4400 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
0 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
0 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
24726 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
35695 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
14829 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
0 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
3829 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-140029 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
0 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
800 usd
us-gaap Increase Decrease In Other Deferred Liability
IncreaseDecreaseInOtherDeferredLiability
-92 usd
us-gaap Increase Decrease In Other Deferred Liability
IncreaseDecreaseInOtherDeferredLiability
570 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-322311 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-115876 usd
us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
90000 usd
us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
0 usd
CY2016Q3 focus Sublease Income Remainder O Lease Term
SubleaseIncomeRemainderOLeaseTerm
26400 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-63369 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
166349 usd
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-19533 usd
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
100000 usd

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