2017 Q1 Form 10-Q Financial Statement
#000156459017010443 Filed on May 11, 2017
Income Statement
Concept | 2017 Q1 | 2016 Q4 | 2016 Q1 |
---|---|---|---|
Revenue | $148.2K | $25.25M | $192.9K |
YoY Change | -23.21% | 5160.42% | -25.79% |
Cost Of Revenue | $48.31K | $11.11M | $81.28K |
YoY Change | -40.57% | 4730.43% | -9.69% |
Gross Profit | $99.85K | $14.13M | $111.7K |
YoY Change | -10.58% | 5334.62% | -34.32% |
Gross Profit Margin | 67.39% | 55.96% | 57.87% |
Selling, General & Admin | $914.4K | $10.64M | $230.0K |
YoY Change | 297.57% | 4333.33% | -39.47% |
% of Gross Profit | 915.8% | 75.3% | 205.98% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $5.347K | $10.00K | $3.642K |
YoY Change | 46.81% | 0.0% | |
% of Gross Profit | 5.36% | 0.07% | 3.26% |
Operating Expenses | $3.066M | $10.65M | $233.8K |
YoY Change | 1211.26% | 4337.5% | -40.05% |
Operating Profit | -$536.3K | $3.480M | -$122.1K |
YoY Change | 339.12% | 17300.0% | -44.48% |
Interest Expense | $31.95K | -$110.0K | $0.00 |
YoY Change | |||
% of Operating Profit | -3.16% | ||
Other Income/Expense, Net | $11.36K | ||
YoY Change | |||
Pretax Income | -$525.0K | $3.340M | -$120.0K |
YoY Change | 337.47% | 33300.0% | -45.45% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$525.0K | $3.340M | -$123.9K |
YoY Change | 323.74% | 33300.0% | -43.69% |
Net Earnings / Revenue | -354.33% | 13.23% | -64.21% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$55.32K | $206.3K | -$17.42K |
COMMON SHARES | |||
Basic Shares Outstanding | 5.871M shares | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2017 Q1 | 2016 Q4 | 2016 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $450.0K | $780.0K | $90.00K |
YoY Change | 400.0% | 7700.0% | 50.0% |
Cash & Equivalents | $666.5K | $778.4K | $85.40K |
Short-Term Investments | |||
Other Short-Term Assets | $30.00K | $20.00K | $20.00K |
YoY Change | 50.0% | 0.0% | -33.33% |
Inventory | $21.63K | $25.33K | $50.00K |
Prepaid Expenses | |||
Receivables | $122.7K | $58.07K | $80.00K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $619.1K | $754.4K | $240.0K |
YoY Change | 157.96% | 85.72% | -48.94% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $6.467K | $8.931K | $20.00K |
YoY Change | -67.67% | -64.24% | -50.0% |
Goodwill | $820.0K | ||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $10.29K | $18.82M | $20.00K |
YoY Change | -48.56% | 65252.1% | -60.0% |
TOTAL ASSETS | |||
Total Short-Term Assets | $619.1K | $754.4K | $240.0K |
Total Long-Term Assets | $10.29K | $18.82M | $20.00K |
Total Assets | $629.4K | $19.58M | $260.0K |
YoY Change | 142.07% | 4400.13% | -50.0% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $74.55K | $2.453M | $260.0K |
YoY Change | -71.33% | 892.37% | 23.81% |
Accrued Expenses | $28.71K | $5.097K | $20.00K |
YoY Change | 43.57% | -58.45% | -33.33% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $150.0K | $3.460M | $0.00 |
YoY Change | |||
Long-Term Debt Due | $100.0K | ||
YoY Change | 400.0% | ||
Total Short-Term Liabilities | $294.7K | $8.976M | $380.0K |
YoY Change | -22.44% | 2619.7% | 46.15% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
Other Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $294.7K | $8.976M | $380.0K |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $295.2K | $316.5K | $380.0K |
YoY Change | -22.32% | -26.4% | 5.56% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$3.017M | -$2.901M | |
YoY Change | 25.31% | ||
Common Stock | $3.352M | $3.352M | |
YoY Change | 44.47% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $334.2K | $10.60M | -$120.0K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $629.4K | $767.1K | $260.0K |
YoY Change | 142.07% | 76.35% | -50.0% |
Cashflow Statement
Concept | 2017 Q1 | 2016 Q4 | 2016 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$525.0K | $3.340M | -$123.9K |
YoY Change | 323.74% | 33300.0% | -43.69% |
Depreciation, Depletion And Amortization | $5.347K | $10.00K | $3.642K |
YoY Change | 46.81% | 0.0% | |
Cash From Operating Activities | $740.0K | $2.840M | $80.00K |
YoY Change | 825.0% | -5780.0% | -126.67% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $20.33K | $0.00 | |
YoY Change | -100.0% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $660.0K | $0.00 |
YoY Change | |||
Cash From Investing Activities | -$20.00K | $660.0K | $0.00 |
YoY Change | -6700.0% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -830.0K | -3.030M | 0.000 |
YoY Change | -100.0% | ||
NET CHANGE | |||
Cash From Operating Activities | 740.0K | 2.840M | 80.00K |
Cash From Investing Activities | -20.00K | 660.0K | 0.000 |
Cash From Financing Activities | -830.0K | -3.030M | 0.000 |
Net Change In Cash | -110.0K | 470.0K | 80.00K |
YoY Change | -237.5% | -883.33% | -900.0% |
FREE CASH FLOW | |||
Cash From Operating Activities | $740.0K | $2.840M | $80.00K |
Capital Expenditures | $20.33K | $0.00 | |
Free Cash Flow | $719.7K | $2.840M | |
YoY Change | -7200.0% |
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<div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed financial statements. Actual results could differ from those estimates. Significant estimates in the accompanying condensed financial statements include the allowance for doubtful accounts, valuation of inventories, the estimates of fixed assets useful lives, the valuation of property and equipment, the valuation allowance on deferred tax assets, and the fair value calculation of stock-based awards.</p></div> | |
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PriorPeriodReclassificationAdjustmentDescription
|
<div> <p style="text-align:justify;margin-top:2pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain amounts in the accompanying condensed financial statements as of March 31, 2016, and for the three-months then ended, have been reclassified to conform to the March 31, 2017 condensed financial statements for the three-months then ended. These include deferred rent and depreciation expense, previously reported as a component of General, administrative and other and Accrued expenses, respectively.</p></div> | |
CY2016Q1 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
421636 | |
CY2017Q1 | fzmd |
Options To Purchase Included In Common Stock Equivalents
OptionsToPurchaseIncludedInCommonStockEquivalents
|
1304788 | |
CY2016Q1 | fzmd |
Options To Purchase Included In Common Stock Equivalents
OptionsToPurchaseIncludedInCommonStockEquivalents
|
609576 | |
CY2017Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | |
CY2016Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | |
CY2017Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | |
CY2017Q1 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
237803 | |
CY2017Q1 | us-gaap |
Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
|
0 | |
CY2017Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
14221 | |
CY2016Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
43945 | |
CY2017Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
7754 | |
CY2016Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
35014 | |
CY2017Q1 | us-gaap |
Loss Contingency Lawsuit Filing Date
LossContingencyLawsuitFilingDate
|
January 27, 2014 | |
CY2017Q1 | us-gaap |
Loss Contingency Name Of Plaintiff
LossContingencyNameOfPlaintiff
|
M. Richard Cutler and Cutler Law Group, P.C. | |
CY2017Q1 | us-gaap |
Loss Contingency Name Of Defendant
LossContingencyNameOfDefendant
|
Fuse, Alan Meeker, Rusty Shelton, Jonathan Brown, Robert H. Donehew and GolfRounds.com, Inc. | |
CY2017Q1 | us-gaap |
Loss Contingency Date Of Dismissal
LossContingencyDateOfDismissal
|
2014-04-21 | |
CY2017Q1 | us-gaap |
Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
|
70000 | |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1304788 | |
CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1304788 | |
CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1304788 | |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.22 | |
CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.22 | |
CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
0.22 | |
CY2016 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P4Y3M18D | |
CY2017Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P4Y | |
CY2017Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P4Y | |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
35000 | |
CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
183000 | |
CY2017Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
183000 |