2014 Q3 Form 10-Q Financial Statement

#000110465914058341 Filed on August 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q2
Revenue $293.0K $475.0K $0.00
YoY Change 651.28% -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.270M $4.750M $4.830M
YoY Change 13.58% -1.66% -17.01%
% of Gross Profit
Research & Development $12.05M $9.978M $10.73M
YoY Change 19.18% -6.97% -21.85%
% of Gross Profit
Depreciation & Amortization $370.0K $400.0K $450.0K
YoY Change -13.95% -11.11% 2.27%
% of Gross Profit
Operating Expenses $17.11M $14.74M $16.01M
YoY Change 12.75% -7.9% -19.91%
Operating Profit -$16.82M -$14.27M -$16.01M
YoY Change 11.11% -10.87% 71.23%
Interest Expense $377.0K $374.0K $9.000K
YoY Change 5285.71% 4055.56% -40.0%
% of Operating Profit
Other Income/Expense, Net -$11.00K -$10.00K $0.00
YoY Change -100.0%
Pretax Income -$17.15M -$14.61M -$15.35M
YoY Change 17.55% -4.81% 64.28%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$17.15M -$14.61M -$15.35M
YoY Change 17.55% -4.79% 64.28%
Net Earnings / Revenue -5852.9% -3076.63%
Basic Earnings Per Share
Diluted Earnings Per Share -$217.4K -$217.4K -$309.4K
COMMON SHARES
Basic Shares Outstanding 78.70M shares 64.34M shares 49.63M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $85.20M $78.00M $74.20M
YoY Change 40.83% 5.12% -22.55%
Cash & Equivalents $19.70M $41.90M $23.48M
Short-Term Investments $65.50M $36.10M $50.70M
Other Short-Term Assets $1.762M $951.0K $1.978M
YoY Change 3.65% -51.92% -26.74%
Inventory
Prepaid Expenses
Receivables $300.0K $500.0K $1.000M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $87.24M $79.42M $77.18M
YoY Change 35.67% 2.91% -26.98%
LONG-TERM ASSETS
Property, Plant & Equipment $3.129M $3.444M $4.715M
YoY Change -28.89% -26.96% -14.27%
Goodwill $11.61M $11.61M
YoY Change
Intangibles $23.00M $23.00M
YoY Change
Long-Term Investments
YoY Change
Other Assets $508.0K $515.0K $442.0K
YoY Change 27.0% 16.52% 10.5%
Total Long-Term Assets $38.25M $38.57M $5.157M
YoY Change 696.88% 647.95% -12.59%
TOTAL ASSETS
Total Short-Term Assets $87.24M $79.42M $77.18M
Total Long-Term Assets $38.25M $38.57M $5.157M
Total Assets $125.5M $118.0M $82.34M
YoY Change 81.6% 43.31% -26.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.30M $9.900M $9.000M
YoY Change 37.8% 10.0% -1.1%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.500M $1.300M $400.0K
YoY Change 525.0% 225.0% -50.0%
Total Short-Term Liabilities $13.82M $11.17M $9.967M
YoY Change 60.78% 12.08% -44.04%
LONG-TERM LIABILITIES
Long-Term Debt $11.80M $13.10M $100.0K
YoY Change 13000.0% -80.0%
Other Long-Term Liabilities $514.0K $748.0K $32.70M
YoY Change -98.49% -97.71% 62.69%
Total Long-Term Liabilities $514.0K $748.0K $32.80M
YoY Change -98.49% -97.72% 59.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.82M $11.17M $9.967M
Total Long-Term Liabilities $514.0K $748.0K $32.80M
Total Liabilities $14.34M $11.92M $42.80M
YoY Change -66.34% -72.15% 11.46%
SHAREHOLDERS EQUITY
Retained Earnings -$426.2M -$409.1M -$351.7M
YoY Change 16.37% 16.32%
Common Stock $469.5M $445.4M $391.3M
YoY Change 19.54% 13.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $43.28M $36.31M $39.56M
YoY Change
Total Liabilities & Shareholders Equity $125.5M $118.0M $82.34M
YoY Change 81.59% 43.31% -26.22%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$17.15M -$14.61M -$15.35M
YoY Change 17.55% -4.79% 64.28%
Depreciation, Depletion And Amortization $370.0K $400.0K $450.0K
YoY Change -13.95% -11.11% 2.27%
Cash From Operating Activities -$15.12M -$11.82M -$10.26M
YoY Change 11.92% 15.2% -7.82%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K -$90.00K -$210.0K
YoY Change -14.29% -57.14% -75.58%
Acquisitions
YoY Change
Other Investing Activities -$29.42M $8.030M $7.300M
YoY Change -245.28% 10.0% -56.39%
Cash From Investing Activities -$29.47M $7.930M $7.100M
YoY Change -246.04% 11.69% -55.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 22.36M 18.26M -100.0K
YoY Change -22460.0% -18360.0% -75.61%
NET CHANGE
Cash From Operating Activities -15.12M -11.82M -10.26M
Cash From Investing Activities -29.47M 7.930M 7.100M
Cash From Financing Activities 22.36M 18.26M -100.0K
Net Change In Cash -22.23M 14.37M -3.260M
YoY Change -438.36% -540.8% -175.12%
FREE CASH FLOW
Cash From Operating Activities -$15.12M -$11.82M -$10.26M
Capital Expenditures -$60.00K -$90.00K -$210.0K
Free Cash Flow -$15.06M -$11.73M -$10.05M
YoY Change 12.05% 16.72% -2.14%

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-3000 USD
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15361000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-32818000 USD
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-14618000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-30560000 USD
us-gaap Paid In Kind Interest
PaidInKindInterest
115000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3157000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2748000 USD
us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-2201000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-292000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
173000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
27994000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
575000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
13865000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
31114000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
28849000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
132000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
2133000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
25000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
199000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-10495000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-1736000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-25000 USD
CY2013Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
38360000 USD
us-gaap Restructuring Charges
RestructuringCharges
-89000 USD
CY2014Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-305000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11556000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12164000 shares
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15349000 USD
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14614000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-32807000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-30557000 USD
CY2014Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
475000 USD

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