2019 Q4 Form 10-Q Financial Statement

#000168316819003607 Filed on November 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q4
Revenue $465.1K $439.3K $60.70K
YoY Change 666.28% 215.8% 21.4%
Cost Of Revenue $589.7K $559.5K $28.88K
YoY Change 1941.86% 587.91% -71.12%
Gross Profit -$124.6K -$120.2K $31.82K
YoY Change -491.45% -308.04% -163.64%
Gross Profit Margin -26.78% -27.36% 52.42%
Selling, General & Admin $805.9K $335.1K $360.8K
YoY Change 123.35% 115.23% 200.68%
% of Gross Profit 1133.94%
Research & Development $62.23K $66.29K $54.79K
YoY Change 13.58% 12.49% 82.63%
% of Gross Profit 172.19%
Depreciation & Amortization $32.07K $56.98K $26.35K
YoY Change 21.71% 3374.39%
% of Gross Profit 82.81%
Operating Expenses $868.1K $839.3K $415.6K
YoY Change 108.88% 108.98% 177.07%
Operating Profit -$992.7K -$959.5K -$383.8K
YoY Change 158.65% 179.05% 91.9%
Interest Expense -$330.00 -$250.00 $760.00
YoY Change -143.42% -99.94% -101.09%
% of Operating Profit
Other Income/Expense, Net $144.0K $9.395K $0.00
YoY Change 613.36% -100.0%
Pretax Income -$1.356M -$950.1K -$383.0K
YoY Change 253.89% 177.38% 41.87%
Income Tax $0.00 $0.00 -$20.00
% Of Pretax Income
Net Earnings -$1.356M -$950.1K -$383.0K
YoY Change 253.91% 177.38% 41.86%
Net Earnings / Revenue -291.43% -216.28% -631.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$33.09K -$23.20K -$9.353K
COMMON SHARES
Basic Shares Outstanding 40.96M shares 40.96M shares 40.91M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.193M $2.760M $4.456M
YoY Change -50.79% -40.54% 1042.5%
Cash & Equivalents $2.193M $2.760M $4.456M
Short-Term Investments
Other Short-Term Assets $46.97K $49.40K $115.8K
YoY Change -59.45% -53.16% 1058.3%
Inventory $62.93K $82.68K $69.79K
Prepaid Expenses $46.97K $49.40K $115.8K
Receivables $137.3K $185.4K $10.91K
Other Receivables $0.00 $3.630K $0.00
Total Short-Term Assets $2.440M $3.081M $4.692M
YoY Change -47.99% -37.13% 883.66%
LONG-TERM ASSETS
Property, Plant & Equipment $4.653M $4.697M $4.578M
YoY Change 1.64% 3.7% 72155.92%
Goodwill $307.6K $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.630K $6.630K $7.870K
YoY Change -15.76% -56.86%
Total Long-Term Assets $4.788M $5.171M $4.586M
YoY Change 4.41% 13.77% 33755.06%
TOTAL ASSETS
Total Short-Term Assets $2.440M $3.081M $4.692M
Total Long-Term Assets $4.788M $5.171M $4.586M
Total Assets $7.229M $8.252M $9.278M
YoY Change -22.09% -12.64% 1791.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $192.5K $0.00 $4.920K
YoY Change 3812.4% -98.91%
Accrued Expenses $46.02K $42.20K $0.00
YoY Change
Deferred Revenue $127.7K $36.18K
YoY Change 252.84%
Short-Term Debt $50.00K $50.00K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $433.0K $349.1K $212.0K
YoY Change 104.27% 51.81% -56.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $12.34K $106.6K $0.00
YoY Change
Total Long-Term Liabilities $107.0K $106.6K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $433.0K $349.1K $212.0K
Total Long-Term Liabilities $107.0K $106.6K $0.00
Total Liabilities $540.0K $466.0K $212.0K
YoY Change 154.75% 102.64% -62.36%
SHAREHOLDERS EQUITY
Retained Earnings -$7.179M -$6.671M -$4.003M
YoY Change 79.32% 84.27% 102.32%
Common Stock $40.96K $40.96K $40.91K
YoY Change 0.13% 0.13% 18.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.689M $7.684M $9.066M
YoY Change
Total Liabilities & Shareholders Equity $7.229M $8.252M $9.278M
YoY Change -22.09% -12.64% 1791.4%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income -$1.356M -$950.1K -$383.0K
YoY Change 253.91% 177.38% 41.86%
Depreciation, Depletion And Amortization $32.07K $56.98K $26.35K
YoY Change 21.71% 3374.39%
Cash From Operating Activities -$571.2K -$675.6K -$272.1K
YoY Change 109.93% 10.83% 43.22%
INVESTING ACTIVITIES
Capital Expenditures $4.200K -$3.500K -$74.85K
YoY Change -105.61% -99.92%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $4.200K -$3.500K -$74.85K
YoY Change -105.61% -99.92%
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 14.26K 161.3K
YoY Change -100.0% -99.76%
NET CHANGE
Cash From Operating Activities -571.2K -675.6K -272.1K
Cash From Investing Activities 4.200K -3.500K -74.85K
Cash From Financing Activities 0.000 14.26K 161.3K
Net Change In Cash -567.0K -664.9K -185.7K
YoY Change 205.35% -172.5% -2.26%
FREE CASH FLOW
Cash From Operating Activities -$571.2K -$675.6K -$272.1K
Capital Expenditures $4.200K -$3.500K -$74.85K
Free Cash Flow -$575.4K -$672.1K -$197.3K
YoY Change 191.72% -117.17% 3.82%

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40959741 shares
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
40855049 shares
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.01
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
1037400 usd
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
1037400 usd
FCUV Common Stock Issued For Cash Value
CommonStockIssuedForCashValue
9883617 usd
CY2018Q3 FCUV Common Stock Issued For Cash Value
CommonStockIssuedForCashValue
6078105 usd
CY2019Q3 FCUV Accrual For Service Rendered To Be Issued Common Stock
AccrualForServiceRenderedToBeIssuedCommonStock
11964 shares
FCUV Shares Issued From Subscription Receivable
SharesIssuedFromSubscriptionReceivable
0 usd
FCUV Shares Issued From Subscription Receivable
SharesIssuedFromSubscriptionReceivable
6078104 usd
us-gaap Depreciation
Depreciation
112107 usd
us-gaap Depreciation
Depreciation
1635 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
26813 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
0 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
0 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
336713 usd
us-gaap Share Based Compensation
ShareBasedCompensation
59964 usd
us-gaap Share Based Compensation
ShareBasedCompensation
469377 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1037400 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0 usd
us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
0 usd
us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
39088 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-262099 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
52772 usd
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-39625 usd
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
18636 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1609 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
47083 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
3625 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
0 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-68914 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
97186 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-7210 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
8162 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-22860 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-106387 usd
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-4921 usd
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
0 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
-7210 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
18000 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-5348 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-31734 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
0 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
-800 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1099422 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1139589 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
220793 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4524944 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-770793 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4524944 usd
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
201482 usd
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
27109 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
0 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
548949 usd
FCUV Shares Issued For Convertible Notes Value
SharesIssuedForConvertibleNotesValue
0 usd
FCUV Shares Issued For Convertible Notes Value
SharesIssuedForConvertibleNotesValue
576949 usd
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
0 usd
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
3805488 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
174373 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9911592 usd
us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
-1695842 usd
us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
4247059 usd
FCUV Shares Issued To Reduce Notes Payable
SharesIssuedToReduceNotesPayable
0 usd
FCUV Shares Issued To Reduce Notes Payable
SharesIssuedToReduceNotesPayable
313686 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Notes Issued1
NotesIssued1
50000 usd
us-gaap Notes Issued1
NotesIssued1
0 usd
us-gaap Stock Issued1
StockIssued1
290716 usd
us-gaap Stock Issued1
StockIssued1
0 usd
us-gaap Use Of Estimates
UseOfEstimates
<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>Use of Estimates</u></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company&#8217;s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Significant estimates in the accompanying financial statements include useful lives of property and equipment, useful lives of intangible assets, valuation of beneficial conversion feature, debt discounts, valuation of derivatives, and the valuation allowance on deferred tax assets.</p>
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">&#160;</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>
FCUV Schedule Of Property And Equipment Useful Lives
ScheduleOfPropertyAndEquipmentUsefulLives
<table cellspacing="0" cellpadding="0" align="center" style="width: 45%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 30%; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fixed assets</font></td> <td style="width: 15%; border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Useful life</font></td></tr> <tr style="vertical-align: top; background-color: rgb(238,238,238)"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Furniture</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">5 years</font></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Equipment</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">5 years</font></td></tr> <tr style="vertical-align: top; background-color: rgb(238,238,238)"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Warehouse</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">39 years</font></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Improvement</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">5 years</font></td></tr> <tr style="vertical-align: top; background-color: rgb(238,238,238)"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Construction in progress</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Land</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td></tr> </table>

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