2018 Q2 Form 10-Q Financial Statement

#000114420418043914 Filed on August 13, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2 2017 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.870M $1.150M $550.0K
YoY Change 62.61% 101.75% 34.15%
% of Gross Profit
Research & Development $798.0K $333.0K $230.0K
YoY Change 139.64% 139.57% 389.36%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $798.0K $333.0K $770.0K
YoY Change 139.64% 139.57% 1538.3%
Operating Profit -$2.665M -$1.479M
YoY Change 80.19% 109.19%
Interest Expense $70.00K -$120.0K -$30.00K
YoY Change -158.33% 1100.0% -200.0%
% of Operating Profit
Other Income/Expense, Net $78.00K -$119.0K -$1.000K
YoY Change -165.55% 600.0% -102.94%
Pretax Income -$2.590M -$1.600M -$810.0K
YoY Change 61.88% 122.22% 92.86%
Income Tax
% Of Pretax Income
Net Earnings -$2.587M -$1.598M -$806.0K
YoY Change 61.89% 120.72% 91.9%
Net Earnings / Revenue
Basic Earnings Per Share -$0.14 -$0.11 -$0.06
Diluted Earnings Per Share -$0.14 -$0.11 -$0.06
COMMON SHARES
Basic Shares Outstanding 18.59M shares 14.19M shares 13.64M shares
Diluted Shares Outstanding 18.59M shares 14.19M shares

Balance Sheet

Concept 2018 Q2 2017 Q2 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.64M $10.23M $3.250M
YoY Change 150.64% 101.38% 490.91%
Cash & Equivalents $25.64M $10.23M $3.251M
Short-Term Investments
Other Short-Term Assets $4.000K $30.00K $40.00K
YoY Change -86.67% 0.0% 0.0%
Inventory
Prepaid Expenses $60.00K
Receivables
Other Receivables
Total Short-Term Assets $25.70M $10.26M $3.290M
YoY Change 150.49% 101.18% 457.63%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $4.000K $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $25.70M $10.26M $3.290M
Total Long-Term Assets $4.000K $0.00 $0.00
Total Assets $25.70M $10.26M $3.290M
YoY Change 150.53% 101.18% 457.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $709.0K $300.0K $220.0K
YoY Change 136.33% -14.29% -4.35%
Accrued Expenses $138.0K $90.00K $130.0K
YoY Change 53.33% 80.0% 62.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $847.0K $580.0K $430.0K
YoY Change 46.03% 28.89% 22.86%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $847.0K $580.0K $430.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $847.0K $580.0K $430.0K
YoY Change 46.03% 28.89% 22.86%
SHAREHOLDERS EQUITY
Retained Earnings -$125.5M
YoY Change
Common Stock $149.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $24.86M $9.679M $2.861M
YoY Change
Total Liabilities & Shareholders Equity $25.70M $10.26M $3.290M
YoY Change 150.53% 101.18% 459.52%

Cashflow Statement

Concept 2018 Q2 2017 Q2 2017 Q1
OPERATING ACTIVITIES
Net Income -$2.587M -$1.598M -$806.0K
YoY Change 61.89% 120.72% 91.9%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.570M -$688.0K -$675.0K
YoY Change 128.2% 46.38% 35.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $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 $491.0K $7.669M $0.00
YoY Change -93.6% 53.07% -100.0%
NET CHANGE
Cash From Operating Activities -$1.570M -$688.0K -$675.0K
Cash From Investing Activities 0.000
Cash From Financing Activities $491.0K $7.669M $0.00
Net Change In Cash -$1.079M $6.981M -$675.0K
YoY Change -115.46% 53.77% 68.75%
FREE CASH FLOW
Cash From Operating Activities -$1.570M -$688.0K -$675.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of estimates</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that impact the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the interim condensed consolidated financial statements and the reported amounts of expense during the reporting period.&#160;Actual results could differ from those estimates.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In the opinion of management, these unaudited interim condensed consolidated financial statements include all adjustments, which are normal and recurring in nature, necessary for the fair presentation of the Company&#8217;s financial position at June 30, 2018 and to state fairly the results for the periods presented. The most significant estimates utilized during the quarter ended June 30, 2018 included estimates necessary to value grants of stock option to contractors, employees and various contractors, disclosed in Note 5.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CashAndCashEquivalentsPeriodIncreaseDecrease
-1079000 USD
CY2017Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
6981000 USD
CY2018Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
35000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
36000 USD
CY2018Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
45127000 USD
CY2017Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
43837000 USD
CY2018Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
26000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-125523000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-121368000 USD
CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26719000 USD
CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3251000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3926000 USD
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10232000 USD
CY2018Q1 fencf Stock Issued During Period Value Stock Warrants Exercised
StockIssuedDuringPeriodValueStockWarrantsExercised
150000 USD
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
1243000 USD
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
1243000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
24857000 USD
CY2018Q2 fencf Stock Issued During Period Shares Stock Warrants Exercised
StockIssuedDuringPeriodSharesStockWarrantsExercised
438000 shares
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-1568000 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
25704000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
28401000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
25663000 USD
fencf Percentage Of Common Shares Outstanding
PercentageOfCommonSharesOutstanding
0.25 pure
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
95000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2018Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 USD
CY2017Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
7571000 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
7571000 USD
CY2018Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
491000 USD
CY2017Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7669000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
677000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7669000 USD
fencf Gross Proceeds From Short Swing Profit Judgment Offset With Settlement Expense
GrossProceedsFromShortSwingProfitJudgmentOffsetWithSettlementExpense
25000 USD
fencf Payments For Legal Legal Fees And Taxes
PaymentsForLegalLegalFeesAndTaxes
7000 USD

Files In Submission

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0001144204-18-043914.txt Edgar Link pending
0001144204-18-043914-xbrl.zip Edgar Link pending
fencf-20180630.xml Edgar Link completed
fencf-20180630.xsd Edgar Link pending
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