2019 Q2 Form 10-Q Financial Statement
#000168316819001573 Filed on May 15, 2019
Income Statement
Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
---|---|---|---|
Revenue | $518.5K | $153.9K | $68.55K |
YoY Change | 1203.47% | 124.48% | -16.59% |
Cost Of Revenue | $376.7K | $131.7K | $17.92K |
YoY Change | 3759.65% | 634.94% | -11.86% |
Gross Profit | $141.8K | $22.15K | $50.63K |
YoY Change | 372.3% | -56.25% | -18.15% |
Gross Profit Margin | 27.34% | 14.4% | 73.85% |
Selling, General & Admin | $254.2K | $110.7K | $69.16K |
YoY Change | 87.09% | 59.99% | -42.36% |
% of Gross Profit | 179.32% | 499.52% | 136.61% |
Research & Development | $64.72K | $62.00K | $51.02K |
YoY Change | 13.99% | 21.53% | -6.35% |
% of Gross Profit | 45.65% | 279.9% | 100.77% |
Depreciation & Amortization | $38.72K | $32.93K | $545.00 |
YoY Change | 5941.28% | 19.52% | |
% of Gross Profit | 27.31% | 148.63% | 1.08% |
Operating Expenses | $563.9K | $558.1K | $200.3K |
YoY Change | -23.42% | 178.55% | 14.24% |
Operating Profit | -$422.2K | -$535.9K | -$149.7K |
YoY Change | -40.24% | 257.95% | 31.89% |
Interest Expense | $340.00 | $730.00 | -$50.00K |
YoY Change | -100.09% | -101.46% | |
% of Operating Profit | |||
Other Income/Expense, Net | $2.323K | $725.00 | -$54.12K |
YoY Change | -100.6% | -101.34% | -1228.18% |
Pretax Income | -$419.8K | -$535.2K | -$203.8K |
YoY Change | -77.96% | 162.56% | 87.49% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$419.8K | -$535.2K | -$203.8K |
YoY Change | -61.67% | 162.56% | 87.49% |
Net Earnings / Revenue | -80.97% | -347.78% | -297.34% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$10.25K | -$13.08K | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 40.96M shares | 40.91M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $3.425M | $3.555M | $250.0K |
YoY Change | -7.94% | 1321.99% | 13.64% |
Cash & Equivalents | $3.425M | $3.555M | $252.5K |
Short-Term Investments | |||
Other Short-Term Assets | $29.47K | $71.64K | $0.00 |
YoY Change | -100.0% | ||
Inventory | $88.48K | $45.45K | $70.00K |
Prepaid Expenses | $29.47K | $71.64K | |
Receivables | $301.2K | $546.6K | $40.00K |
Other Receivables | $2.150K | $2.150K | $0.00 |
Total Short-Term Assets | $3.846M | $4.223M | $370.0K |
YoY Change | 0.99% | 1041.31% | -13.24% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.735M | $4.737M | $10.00K |
YoY Change | 90152.36% | 47267.11% | 24.08% |
Goodwill | $307.6K | $307.6K | |
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $6.630K | $13.84K | $10.00K |
YoY Change | -33.7% | 38.4% | -50.0% |
Total Long-Term Assets | $5.221M | $5.243M | $10.00K |
YoY Change | 41815.17% | 52325.39% | -69.5% |
TOTAL ASSETS | |||
Total Short-Term Assets | $3.846M | $4.223M | $370.0K |
Total Long-Term Assets | $5.221M | $5.243M | $10.00K |
Total Assets | $9.067M | $9.465M | $380.0K |
YoY Change | 137.3% | 2390.89% | -17.25% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $0.00 | $0.00 | $510.0K |
YoY Change | -100.0% | -100.0% | 59.38% |
Accrued Expenses | $52.49K | $51.33K | |
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $50.00K | $41.50K | $0.00 |
YoY Change | 0.0% | ||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $468.8K | $367.2K | $530.0K |
YoY Change | 23.13% | -30.72% | 10.94% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $8.500K | $120.0K |
YoY Change | -92.92% | ||
Other Long-Term Liabilities | $130.9K | $144.3K | |
YoY Change | |||
Total Long-Term Liabilities | $130.9K | $152.8K | $120.0K |
YoY Change | 27.34% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $468.8K | $367.2K | $530.0K |
Total Long-Term Liabilities | $130.9K | $152.8K | $120.0K |
Total Liabilities | $599.7K | $520.0K | $660.0K |
YoY Change | 57.52% | -21.21% | 38.12% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$4.941M | -$4.451M | |
YoY Change | 50.73% | ||
Common Stock | $40.96K | $40.96K | |
YoY Change | 0.78% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $8.450M | $8.857M | -$276.4K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $9.067M | $9.465M | $380.0K |
YoY Change | 137.3% | 2390.89% | -17.25% |
Cashflow Statement
Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$419.8K | -$535.2K | -$203.8K |
YoY Change | -61.67% | 162.56% | 87.49% |
Depreciation, Depletion And Amortization | $38.72K | $32.93K | $545.00 |
YoY Change | 5941.28% | 19.52% | |
Cash From Operating Activities | -$81.79K | -$369.1K | -$141.9K |
YoY Change | -79.03% | 160.18% | 18.23% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$36.17K | $181.1K | $0.00 |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | -$348.5K | $0.00 |
YoY Change | |||
Cash From Investing Activities | -$36.17K | -$529.6K | $0.00 |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | $2.021K | $0.00 | |
YoY Change | |||
Cash From Financing Activities | -12.24K | -$2.021K | $0.00 |
YoY Change | -100.32% | ||
NET CHANGE | |||
Cash From Operating Activities | -81.79K | -$369.1K | -$141.9K |
Cash From Investing Activities | -36.17K | -$529.6K | $0.00 |
Cash From Financing Activities | -12.24K | -$2.021K | $0.00 |
Net Change In Cash | -130.2K | -$900.8K | -$141.9K |
YoY Change | -103.75% | 534.92% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$81.79K | -$369.1K | -$141.9K |
Capital Expenditures | -$36.17K | $181.1K | $0.00 |
Free Cash Flow | -$45.62K | -$550.2K | -$141.9K |
YoY Change | 287.84% | 18.23% |
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0 | usd |
CY2018Q1 | us-gaap |
Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
|
5 | shares |
CY2019Q1 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
290716 | usd |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
5 | usd |
CY2019Q1 | us-gaap |
Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
|
26435 | usd |
CY2018Q1 | us-gaap |
Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
|
0 | usd |
CY2019Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
0 | usd |
CY2018Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
41667 | usd |
CY2019Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
35999 | usd |
CY2018Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
0 | usd |
CY2019Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
99176 | usd |
CY2018Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
18410 | usd |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2021 | usd |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
CY2019Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-900776 | usd |
CY2019Q1 | us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
-37625 | usd |
CY2018Q1 | us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
-564 | usd |
CY2019Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-9187 | usd |
CY2018Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
18877 | usd |
CY2019Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
2151 | usd |
CY2018Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
0 | usd |
CY2019Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-46671 | usd |
CY2018Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-4113 | usd |
CY2019Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
11216 | usd |
CY2018Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
60406 | usd |
CY2019Q1 | us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
-4921 | usd |
CY2018Q1 | us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
0 | usd |
CY2019Q1 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
-7210 | usd |
CY2018Q1 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
0 | usd |
CY2019Q1 | us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
-10467 | usd |
CY2018Q1 | us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
-8047 | usd |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-369117 | usd |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-141872 | usd |
CY2019Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
181120 | usd |
CY2018Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
0 | usd |
CY2019Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
550000 | usd |
CY2018Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
0 | usd |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-529638 | usd |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | usd |
CY2019Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
2021 | usd |
CY2018Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | usd |
CY2018Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-141872 | usd |
CY2019Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3554975 | usd |
CY2018Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
4455751 | usd |
CY2017Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
394398 | usd |
CY2018Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
252526 | usd |
CY2019Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd |
CY2018Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd |
CY2019Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
CY2018Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
CY2019Q1 | FCUV |
Promissory Note Issued For Acquisition
PromissoryNoteIssuedForAcquisition
|
50000 | usd |
CY2018Q1 | FCUV |
Promissory Note Issued For Acquisition
PromissoryNoteIssuedForAcquisition
|
0 | usd |
CY2019Q1 | FCUV |
Shares Issued For Acquisition
SharesIssuedForAcquisition
|
290716 | usd |
CY2018Q1 | FCUV |
Shares Issued For Acquisition
SharesIssuedForAcquisition
|
0 | usd |
CY2019Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><u>Concentrations of Credit Risk</u></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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> | |
CY2019Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
2033 | usd |
CY2018Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
0 | usd |
CY2019Q1 | us-gaap |
Cash Acquired From Acquisition
CashAcquiredFromAcquisition
|
201482 | usd |
CY2018Q1 | us-gaap |
Cash Acquired From Acquisition
CashAcquiredFromAcquisition
|
0 | usd |
CY2019Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
725 | usd |
CY2018Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-54119 | usd |
CY2019Q1 | us-gaap |
Inventory Lifo Reserve
InventoryLIFOReserve
|
64966 | usd |
CY2018Q4 | us-gaap |
Inventory Lifo Reserve
InventoryLIFOReserve
|
40974 | usd |
CY2019Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
195642 | usd |
CY2019Q1 | us-gaap |
Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
239738 | usd |