2018 Q4 Form 10-Q Financial Statement
#000168316818003375 Filed on November 13, 2018
Income Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
Revenue | $60.70K | $139.1K | $265.7K |
YoY Change | 21.4% | -47.65% | 3.25% |
Cost Of Revenue | $28.88K | $81.33K | $191.6K |
YoY Change | -71.12% | -57.56% | 0.37% |
Gross Profit | $31.82K | $57.77K | $74.10K |
YoY Change | -163.64% | -22.04% | 11.54% |
Gross Profit Margin | 52.42% | 41.53% | 27.89% |
Selling, General & Admin | $360.8K | $155.7K | $120.0K |
YoY Change | 200.68% | 29.73% | 0.0% |
% of Gross Profit | 1133.94% | 269.47% | 161.94% |
Research & Development | $54.79K | $58.93K | $54.71K |
YoY Change | 82.63% | 7.72% | 2.73% |
% of Gross Profit | 172.19% | 102.0% | 73.83% |
Depreciation & Amortization | $26.35K | $1.640K | $0.00 |
YoY Change | |||
% of Gross Profit | 82.81% | 2.84% | 0.0% |
Operating Expenses | $415.6K | $401.6K | $175.6K |
YoY Change | 177.07% | 128.69% | 2.38% |
Operating Profit | -$383.8K | -$343.8K | -$101.5K |
YoY Change | 91.9% | 238.73% | -3.4% |
Interest Expense | $760.00 | -$441.7K | -$40.00K |
YoY Change | -101.09% | 1004.25% | |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | $1.317K | $296.00 |
YoY Change | -100.0% | 344.93% | |
Pretax Income | -$383.0K | -$342.5K | -$140.6K |
YoY Change | 41.87% | 143.59% | 41.81% |
Income Tax | -$20.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$383.0K | -$342.5K | -$104.6K |
YoY Change | 41.86% | 227.41% | 4.66% |
Net Earnings / Revenue | -631.0% | -246.24% | -39.37% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$9.353K | -$44.71K | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 40.91M shares | 40.91M shares | 34.57M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $4.456M | $4.641M | $580.0K |
YoY Change | 1042.5% | 700.25% | 38.1% |
Cash & Equivalents | $4.456M | $4.641M | $577.6K |
Short-Term Investments | |||
Other Short-Term Assets | $115.8K | $105.5K | $10.00K |
YoY Change | 1058.3% | 954.7% | 0.0% |
Inventory | $69.79K | $55.43K | $75.95K |
Prepaid Expenses | $115.8K | $105.5K | $11.05K |
Receivables | $10.91K | $79.08K | $105.0K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $4.692M | $4.901M | $769.7K |
YoY Change | 883.66% | 536.73% | 50.75% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.578M | $4.530M | $7.145K |
YoY Change | 72155.92% | 63296.01% | 77.21% |
Goodwill | $0.00 | ||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $7.870K | $15.37K | $10.00K |
YoY Change | 53.7% | -50.0% | |
Total Long-Term Assets | $4.586M | $4.545M | $14.36K |
YoY Change | 33755.06% | 31561.56% | -50.08% |
TOTAL ASSETS | |||
Total Short-Term Assets | $4.692M | $4.901M | $769.7K |
Total Long-Term Assets | $4.586M | $4.545M | $14.36K |
Total Assets | $9.278M | $9.446M | $784.0K |
YoY Change | 1791.4% | 1104.79% | 45.37% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $4.920K | $0.00 | $390.0K |
YoY Change | -98.91% | -100.0% | 25.81% |
Accrued Expenses | $0.00 | $0.00 | |
YoY Change | |||
Deferred Revenue | $36.18K | ||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $212.0K | $229.9K | $508.3K |
YoY Change | -56.0% | -54.76% | 60.43% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $40.00K |
YoY Change | -100.0% | -100.0% | |
Other Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $40.00K |
YoY Change | -100.0% | -100.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $212.0K | $229.9K | $508.3K |
Total Long-Term Liabilities | $0.00 | $0.00 | $40.00K |
Total Liabilities | $212.0K | $229.9K | $548.2K |
YoY Change | -62.36% | -58.05% | 72.59% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$4.003M | -$3.620M | -$1.670M |
YoY Change | 102.32% | 116.74% | 217.48% |
Common Stock | $40.91K | $40.91K | $34.58K |
YoY Change | 18.31% | 18.31% | 0.0% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $9.066M | $9.216M | $235.8K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $9.278M | $9.446M | $784.0K |
YoY Change | 1791.4% | 1104.79% | 45.37% |
Cashflow Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$383.0K | -$342.5K | -$104.6K |
YoY Change | 41.86% | 227.41% | 4.66% |
Depreciation, Depletion And Amortization | $26.35K | $1.640K | $0.00 |
YoY Change | |||
Cash From Operating Activities | -$272.1K | -$609.6K | -$150.0K |
YoY Change | 43.22% | 306.39% | 150.0% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$74.85K | -$4.525M | $0.00 |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | |||
Cash From Investing Activities | -$74.85K | -$4.525M | $0.00 |
YoY Change | -100.0% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 161.3K | 6.052M | 80.00K |
YoY Change | 7464.49% | ||
NET CHANGE | |||
Cash From Operating Activities | -272.1K | -609.6K | -150.0K |
Cash From Investing Activities | -74.85K | -4.525M | 0.000 |
Cash From Financing Activities | 161.3K | 6.052M | 80.00K |
Net Change In Cash | -185.7K | 917.1K | -70.00K |
YoY Change | -2.26% | -1410.09% | 40.0% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$272.1K | -$609.6K | -$150.0K |
Capital Expenditures | -$74.85K | -$4.525M | $0.00 |
Free Cash Flow | -$197.3K | $3.915M | -$150.0K |
YoY Change | 3.82% | -2710.23% | 150.0% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2018Q4 | dei |
Entity Common Stock Shares Outstanding
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|
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Common Stock Par Or Stated Value Per Share
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|
0.001 | |
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Common Stock Par Or Stated Value Per Share
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|
.001 | |
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Common Stock Shares Authorized
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|
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Common Stock Shares Authorized
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|
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dei |
Entity Registrant Name
EntityRegistrantName
|
Focus Universal Inc. | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001590418 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2018-09-30 | ||
dei |
Amendment Flag
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|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
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Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2018 | ||
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Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4529645 | usd |
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Property Plant And Equipment Net
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Common Stock Value
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Cash Equivalents At Carrying Value
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Assets Current
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Prepaid Expense Current
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Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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|
0 | shares |
CY2018Q3 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | usd |
CY2017Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | usd |
CY2018Q3 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2017Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares | |
CY2018Q3 | us-gaap |
Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
|
1029 | usd |
CY2017Q4 | us-gaap |
Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
|
1029 | usd |
CY2018Q3 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
12506 | usd |
CY2017Q4 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
8850 | usd |
CY2018Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
4534823 | usd |
CY2017Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
9879 | usd |
CY2018Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
5178 | usd |
CY2017Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
3543 | usd |
us-gaap |
Depreciation
Depreciation
|
1635 | usd | |
us-gaap |
Depreciation
Depreciation
|
914 | usd | |
CY2018Q3 | us-gaap |
Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
|
0.10 | pure |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
106431 | usd | |
us-gaap |
Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
|
102162 | usd | |
CY2017Q3 | FCUV |
Revenue Other
RevenueOther
|
265718 | usd |
us-gaap |
Other Income
OtherIncome
|
5014 | usd | |
CY2017Q3 | us-gaap |
Other Income
OtherIncome
|
750 | usd |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.04 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | ||
CY2018Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | |
CY2017Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.00 | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
15 | usd | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
800 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
125 | usd | |
FCUV |
Shares Issued To Reduce Notes Payable
SharesIssuedToReduceNotesPayable
|
313686 | usd | |
FCUV |
Shares Issued To Reduce Notes Payable
SharesIssuedToReduceNotesPayable
|
0 | usd | |
CY2018Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
4641457 | usd |
CY2017Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
394398 | usd |
CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
340073 | usd |
CY2017Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
577596 | usd |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
4247059 | usd | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
237523 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
9911592 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
500000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
3805488 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | usd | |
us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
|
-576949 | usd | |
us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
|
0 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
548949 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
0 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1139589 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-262477 | usd | |
us-gaap |
Increase Decrease In Other Deferred Liability
IncreaseDecreaseInOtherDeferredLiability
|
0 | usd | |
us-gaap |
Increase Decrease In Other Deferred Liability
IncreaseDecreaseInOtherDeferredLiability
|
-468 | usd | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-800 | usd | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-800 | usd | |
us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
-31734 | usd | |
us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
59931 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-106387 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
17712 | usd | |
us-gaap |
Increase Decrease In Deposits
IncreaseDecreaseInDeposits
|
-8162 | usd | |
us-gaap |
Increase Decrease In Deposits
IncreaseDecreaseInDeposits
|
0 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
97186 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
3091 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
47083 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-28879 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
18636 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
0 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
52772 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
69152 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
469377 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
0 | usd | |
us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
336713 | usd | |
us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
39926 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1635 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1371 | usd | |
us-gaap |
Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
|
39088 | usd | |
us-gaap |
Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
|
0 | usd | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Concentrations of Credit Risk</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</p> | ||
CY2018Q3 | us-gaap |
Land
Land
|
731515 | usd |
CY2017Q4 | us-gaap |
Land
Land
|
0 | usd |
us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
262691 | shares | |
us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
457377 | usd | |
us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
0 | usd | |
us-gaap |
Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
|
0 | usd | |
us-gaap |
Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
|
17516 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4524944 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | usd | |
us-gaap |
Sales Commissions And Fees
SalesCommissionsAndFees
|
28000 | usd | |
dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | ||
dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false | ||
CY2018Q3 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
18000 | usd |
CY2017Q4 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
0 | usd |
us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
18000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4524944 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
0 | usd | |
FCUV |
Shares Issued From Subscription Receivable
SharesIssuedFromSubscriptionReceivable
|
6078104 | usd | |
FCUV |
Shares Issued From Subscription Receivable
SharesIssuedFromSubscriptionReceivable
|
0 | usd | |
CY2018Q3 | FCUV |
Warehouse
Warehouse
|
3789773 | usd |
CY2017Q4 | FCUV |
Warehouse
Warehouse
|
0 | usd |
CY2018Q3 | us-gaap |
Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
|
189257 | usd |
CY2017Q4 | us-gaap |
Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
|
0 | usd |
CY2018Q3 | us-gaap |
Security Deposit Liability
SecurityDepositLiability
|
18000 | usd |