$FZMD
Fuse Medical, Inc.

2019 Q2 Form 10-Q Financial Statement

#000156459019031531 Filed on August 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q4 2018 Q2
Revenue $5.076M $7.835M $5.718M
YoY Change -11.24% 4.47% -21.66%
Cost Of Revenue $2.224M $3.411M $3.770M
YoY Change -41.02% -8.3% 3178.83%
Gross Profit $2.852M $4.424M $1.948M
YoY Change 46.4% 17.04% 786.77%
Gross Profit Margin 56.19% 56.46% 34.07%
Selling, General & Admin $1.976M $3.866M $2.293M
YoY Change -13.83% 7.69% 196.57%
% of Gross Profit 69.28% 87.39% 117.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.60K $39.04K $3.742K
YoY Change 584.02% -25.44%
% of Gross Profit 0.9% 0.88% 0.19%
Operating Expenses $3.007M $3.905M $3.912M
YoY Change -23.14% 8.78% 84.64%
Operating Profit -$154.5K $518.7K -$1.964M
YoY Change -92.13% 172.99% -400.77%
Interest Expense $28.03K -$32.11K $40.01K
YoY Change -29.95% -35.78% -1.83%
% of Operating Profit -6.19%
Other Income/Expense, Net -$28.03K $5.663M -$40.01K
YoY Change -29.95% -1.83%
Pretax Income -$182.5K $6.150M -$2.004M
YoY Change -90.89% 3999.73% -427.34%
Income Tax -$40.39K $119.0K -$388.3K
% Of Pretax Income 1.93%
Net Earnings -$142.1K $6.031M -$1.615M
YoY Change -91.2% 5930.64% -363.89%
Net Earnings / Revenue -2.8% 76.97% -28.25%
Basic Earnings Per Share $0.00 -$0.02
Diluted Earnings Per Share -$2.024K $49.66K -$0.04
COMMON SHARES
Basic Shares Outstanding 70.22M 65.89M
Diluted Shares Outstanding 43.83M

Balance Sheet

Concept 2019 Q2 2018 Q4 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $841.8K $844.3K $690.0K
YoY Change 22.01% 5.54% 53.33%
Cash & Equivalents $841.8K $844.3K $690.0K
Short-Term Investments
Other Short-Term Assets $18.50K $29.55K $40.00K
YoY Change -53.75% -1.5% 33.33%
Inventory $10.77M $11.08M $11.23M
Prepaid Expenses
Receivables $3.911M $5.226M $3.560M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $15.54M $17.18M $15.51M
YoY Change 0.18% -4.76% 2084.51%
LONG-TERM ASSETS
Property, Plant & Equipment $32.36K $42.97K $40.00K
YoY Change -19.09% 154.36% 300.0%
Goodwill $2.905M $2.905M $820.7K
YoY Change 254.0% 254.0%
Intangibles $1.247M $1.288M
YoY Change
Long-Term Investments
YoY Change
Other Assets $929.6K $0.00 $990.0K
YoY Change -6.1% -100.0%
Total Long-Term Assets $5.114M $4.997M $1.840M
YoY Change 177.95% 312.02% 18300.0%
TOTAL ASSETS
Total Short-Term Assets $15.54M $17.18M $15.51M
Total Long-Term Assets $5.114M $4.997M $1.840M
Total Assets $20.65M $22.17M $17.35M
YoY Change 19.03% 15.2% 2309.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.395M $2.713M $2.640M
YoY Change -9.3% 4.82% 1220.0%
Accrued Expenses $1.961M $2.784M $2.090M
YoY Change -6.19% 52.09% 5125.0%
Deferred Revenue
YoY Change
Short-Term Debt $1.403M $1.627M $2.170M
YoY Change -35.37% -54.41% 1346.67%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.758M $7.125M $6.910M
YoY Change -16.68% -10.76% 1671.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.58M $13.58M $19.24M
YoY Change -29.41% -29.41%
Total Long-Term Liabilities $13.58M $13.58M $19.24M
YoY Change -29.41% -29.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.758M $7.125M $6.910M
Total Long-Term Liabilities $13.58M $13.58M $19.24M
Total Liabilities $19.34M $20.71M $26.15M
YoY Change -26.05% -23.95% 6605.13%
SHAREHOLDERS EQUITY
Retained Earnings $98.65K $751.8K
YoY Change
Common Stock $1.214M $714.9K
YoY Change -108.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.313M $1.467M -$8.797M
YoY Change
Total Liabilities & Shareholders Equity $20.65M $22.17M $17.35M
YoY Change 19.01% 15.2% 2310.19%

Cashflow Statement

Concept 2019 Q2 2018 Q4 2018 Q2
OPERATING ACTIVITIES
Net Income -$142.1K $6.031M -$1.615M
YoY Change -91.2% 5930.64% -363.89%
Depreciation, Depletion And Amortization $25.60K $39.04K $3.742K
YoY Change 584.02% -25.44%
Cash From Operating Activities $134.5K -$458.6K $970.0K
YoY Change -86.14% 358.61% 76.36%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$20.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 -$20.00K
YoY Change -100.0% -300.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -144.4K 713.9K -1.050M
YoY Change -86.25% 2279.63% 101.92%
NET CHANGE
Cash From Operating Activities 134.5K -458.6K 970.0K
Cash From Investing Activities 0.000 0.000 -20.00K
Cash From Financing Activities -144.4K 713.9K -1.050M
Net Change In Cash -9.910K 255.3K -100.0K
YoY Change -90.09% -464.69% -350.0%
FREE CASH FLOW
Cash From Operating Activities $134.5K -$458.6K $970.0K
Capital Expenditures $0.00 $0.00 -$20.00K
Free Cash Flow $134.5K -$458.6K $990.0K
YoY Change -86.42% 358.61% 80.0%

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<p style="text-align:justify;margin-top:12pt;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="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 consolidated financial statements in accordance with GAAP, requires the Company&#8217;s management to make estimates and assumptions that affect the Company&#8217;s reported amounts in the consolidated financial statements. Actual results could differ from those estimates. Significant estimates on the accompanying unaudited condensed consolidated financial statements include the valuation of inventories, the Company&#8217;s effective income tax rate, and the recoverability of deferred tax assets, which are based upon the Company&#8217;s management expectation of future taxable income and allowable deductions and the fair value calculations of stock-based compensation and earn-out liability. (See Note 4, &#8220;CPM Acquisition&#8221;) </p>
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us-gaap Depreciation
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218427
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us-gaap Effective Income Tax Rate Continuing Operations
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