2012 Q1 Form 10-K Financial Statement

#000101041212000168 Filed on April 02, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2010 Q4 2010
Revenue $14.34K $20.00K $96.11K
YoY Change 18.26% 100.0% 60.18%
Cost Of Revenue $909.00 $0.00 $15.27K
YoY Change -66.09% 52.74%
Gross Profit $13.43K $20.00K $80.84K
YoY Change 42.21% 100.0% 61.67%
Gross Profit Margin 93.66% 100.0% 84.11%
Selling, General & Admin $180.7K $260.0K $939.0K
YoY Change -35.82% 8.33% -3.19%
% of Gross Profit 1345.76% 1300.0% 1161.64%
Research & Development $64.48K $70.00K $328.4K
YoY Change 41.9% -30.0% -27.03%
% of Gross Profit 480.12% 350.0% 406.21%
Depreciation & Amortization $20.85K $60.00K $118.5K
YoY Change -30.31% 0.0% -52.61%
% of Gross Profit 155.23% 300.0% 146.56%
Operating Expenses $272.8K $360.0K $1.393M
YoY Change -23.61% -2.7% -10.16%
Operating Profit -$259.4K -$340.0K -$1.312M
YoY Change -25.4% -5.56% -12.55%
Interest Expense $19.50K -$180.0K $516.5K
YoY Change 624.03% 350.0% -371.86%
% of Operating Profit
Other Income/Expense, Net -$19.48K -$20.00K -$540.7K
YoY Change 623.51% 100.0% 5307.25%
Pretax Income -$280.0K -$540.0K -$1.840M
YoY Change -20.0% 28.57% 8.88%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$278.0K -$540.0K -$1.837M
YoY Change -20.06% 28.57% 8.66%
Net Earnings / Revenue -1938.7% -2700.0% -1911.5%
Basic Earnings Per Share
Diluted Earnings Per Share -$7.724K -$16.41K -$65.27K
COMMON SHARES
Basic Shares Outstanding 36.28M
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q1 2010 Q4 2010
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.00K $20.00K $20.00K
YoY Change -25.0% 0.0% 0.0%
Cash & Equivalents $22.02K $6.027K $10.00K
Short-Term Investments $10.00K $10.00K $10.00K
Other Short-Term Assets $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0% 0.0%
Inventory $7.749K $9.440K $10.00K
Prepaid Expenses
Receivables $18.26K $36.60K $40.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $59.75K $63.96K $60.00K
YoY Change -0.41% 27.91% 20.0%
LONG-TERM ASSETS
Property, Plant & Equipment $191.0K $320.7K $320.0K
YoY Change -34.12% -27.12% -27.27%
Goodwill $5.106M $5.356M
YoY Change
Intangibles
YoY Change
Long-Term Investments $20.00K $10.00K $10.00K
YoY Change 0.0% 0.0% 0.0%
Other Assets $20.00K $10.00K $10.00K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $5.871M $6.380M $6.380M
YoY Change -7.25% -3.33% -3.33%
TOTAL ASSETS
Total Short-Term Assets $59.75K $63.96K $60.00K
Total Long-Term Assets $5.871M $6.380M $6.380M
Total Assets $5.931M $6.444M $6.440M
YoY Change -7.18% -3.1% -3.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $243.4K $123.9K $140.0K
YoY Change 73.84% 54.83% 75.0%
Accrued Expenses $359.3K $56.41K $60.00K
YoY Change 349.18% -37.32% -33.33%
Deferred Revenue
YoY Change
Short-Term Debt $50.00K $500.0K $0.00
YoY Change 51.52% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.315M $206.4K $210.0K
YoY Change 471.57% -58.72% -58.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.315M $206.4K $210.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.310M $206.4K $210.0K
YoY Change 244.74% -77.57% -77.17%
SHAREHOLDERS EQUITY
Retained Earnings -$18.68M -$16.78M
YoY Change
Common Stock $36.28K $35.75K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.616M $6.238M $6.240M
YoY Change
Total Liabilities & Shareholders Equity $5.931M $6.444M $6.440M
YoY Change -7.18% -3.1% -3.16%

Cashflow Statement

Concept 2012 Q1 2010 Q4 2010
OPERATING ACTIVITIES
Net Income -$278.0K -$540.0K -$1.837M
YoY Change -20.06% 28.57% 8.66%
Depreciation, Depletion And Amortization $20.85K $60.00K $118.5K
YoY Change -30.31% 0.0% -52.61%
Cash From Operating Activities -$135.4K -$180.0K -$639.7K
YoY Change 4.06% 5.88% -20.04%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $150.1K 180.0K $633.0K
YoY Change 0.09% 38.46% 0.48%
NET CHANGE
Cash From Operating Activities -$135.4K -180.0K -$639.7K
Cash From Investing Activities 0.000
Cash From Financing Activities $150.1K 180.0K $633.0K
Net Change In Cash $14.73K 0.000 -$6.653K
YoY Change -25.92% -100.0% -96.09%
FREE CASH FLOW
Cash From Operating Activities -$135.4K -$180.0K -$639.7K
Capital Expenditures $0.00
Free Cash Flow -$135.4K -$180.0K -$639.7K
YoY Change 4.06% 5.88% -20.04%

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CY2010 us-gaap Income Taxes Paid
IncomeTaxesPaid
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2011 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
124526 USD
CY2010 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
42552 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
42285 USD
CY2011 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-5913 USD
CY2010 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
19000 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
13087 USD
CY2011 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4243 USD
CY2010 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
25149 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
34355 USD
CY2011 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
220444 USD
CY2010 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-32310 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
274363 USD
CY2011 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-7120 USD
CY2010 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
7120 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-343750 USD
CY2011 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1262 USD
CY2010 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
175 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
8178 USD
CY2011 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5824 USD
CY2010 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4007 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
28213 USD
CY2011 us-gaap Interest Expense
InterestExpense
33809 USD
CY2010 us-gaap Interest Expense
InterestExpense
516539 USD
us-gaap Interest Expense
InterestExpense
2329784 USD
CY2011 us-gaap Interest Paid
InterestPaid
USD
CY2010 us-gaap Interest Paid
InterestPaid
USD
us-gaap Interest Paid
InterestPaid
16955 USD
CY2010Q4 us-gaap Inventory Net
InventoryNet
9440 USD
CY2011Q4 us-gaap Inventory Net
InventoryNet
8178 USD
CY2011 us-gaap Investment Income Interest
InvestmentIncomeInterest
30 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2146714 USD
CY2010Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
USD
CY2011Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
50000 USD
CY2011 us-gaap Operating Expenses
OperatingExpenses
1655371 USD
CY2010 us-gaap Operating Expenses
OperatingExpenses
1392512 USD
CY2010 us-gaap Investment Income Interest
InvestmentIncomeInterest
65 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
131820 USD
CY2010Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
6443916 USD
CY2011Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5967705 USD
CY2010Q4 us-gaap Liabilities Current
LiabilitiesCurrent
206396 USD
CY2011Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1088334 USD
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
600000 USD
CY2010 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
633045 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8352964 USD
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
USD
CY2010 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-510987 USD
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-598733 USD
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-639698 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7836734 USD
CY2011 us-gaap Net Income Loss
NetIncomeLoss
-1616557 USD
CY2010 us-gaap Net Income Loss
NetIncomeLoss
-1837128 USD
CY2009 us-gaap Net Income Loss
NetIncomeLoss
-1690721 USD
us-gaap Net Income Loss
NetIncomeLoss
-4510726 USD
CY2005 us-gaap Net Income Loss
NetIncomeLoss
-1770020 USD
CY2006 us-gaap Net Income Loss
NetIncomeLoss
-2512836 USD
CY2007 us-gaap Net Income Loss
NetIncomeLoss
-2458469 USD
CY2008 us-gaap Net Income Loss
NetIncomeLoss
-2000962 USD
us-gaap Net Income Loss
NetIncomeLoss
-18397420 USD
CY2011 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-33564 USD
CY2010 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-540725 USD
us-gaap Operating Expenses
OperatingExpenses
17148820 USD
CY2011 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
215 USD
CY2010 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
-475 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
218 USD
CY2005Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
347294 USD
CY2011 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
USD
CY2010 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
45868 USD
CY2011 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
USD
CY2010 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
265000 USD
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
USD
CY2010 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
200119 USD
CY2010Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2010Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2010Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2010Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2011Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2010Q4 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
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CY2010Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11889 USD
CY2011Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11713 USD
CY2011 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
500000 USD
CY2010 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
628095 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
2695807 USD
CY2011 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
50000 USD
CY2010 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
50000 USD
CY2011 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
USD
CY2010 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
4950 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
5622157 USD
CY2011 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
50000 USD
CY2010 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
495300 USD
CY2010Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
320673 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
211890 USD
CY2011 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10638 USD
CY2010 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10638 USD
CY2011 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
USD
CY2010 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
11340 USD
CY2011 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
USD
CY2010 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
510300 USD
CY2011 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
266996 USD
CY2010 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
328359 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2997691 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-16780863 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18397420 USD
CY2011 us-gaap Revenues
Revenues
72378 USD
CY2010 us-gaap Revenues
Revenues
96109 USD
us-gaap Revenues
Revenues
898114 USD
CY2011 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1017156 USD
CY2010 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
939009 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
12134866 USD
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
43408 USD
CY2010 us-gaap Share Based Compensation
ShareBasedCompensation
65308 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1874849 USD
CY2011 us-gaap Share Based Goods And Nonemployee Services Transaction Expense
ShareBasedGoodsAndNonemployeeServicesTransactionExpense
165001 USD
CY2010 us-gaap Share Based Goods And Nonemployee Services Transaction Expense
ShareBasedGoodsAndNonemployeeServicesTransactionExpense
347731 USD
us-gaap Share Based Goods And Nonemployee Services Transaction Expense
ShareBasedGoodsAndNonemployeeServicesTransactionExpense
3542785 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
6237520 USD
CY2009Q4 us-gaap Stockholders Equity
StockholdersEquity
5731258 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
4879371 USD
CY2008Q4 us-gaap Stockholders Equity
StockholdersEquity
6660486 USD
CY2004Q1 us-gaap Stockholders Equity
StockholdersEquity
4966264 USD
CY2004Q4 us-gaap Stockholders Equity
StockholdersEquity
8008855 USD
CY2005Q4 us-gaap Stockholders Equity
StockholdersEquity
10219087 USD
CY2006Q4 us-gaap Stockholders Equity
StockholdersEquity
8743969 USD
CY2007Q4 us-gaap Stockholders Equity
StockholdersEquity
8364149 USD
CY2010 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1696399 USD
CY2009 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
30000 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1500000 USD
CY2005 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3907207 USD
us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
1931309 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1776000 USD

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