$FZMD
Fuse Medical, Inc.

2020 Q1 Form 10-K Financial Statement

#000156459020014068 Filed on March 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 2018 Q4
Revenue $4.637M $22.90M $7.835M
YoY Change -2.81% -13.07% 4.47%
Cost Of Revenue $1.983M $11.76M $3.411M
YoY Change 0.38% -11.91% -8.3%
Gross Profit $2.654M $11.14M $4.424M
YoY Change -5.07% -14.26% 17.04%
Gross Profit Margin 57.23% 48.63% 56.46%
Selling, General & Admin $2.481M $8.466M $3.866M
YoY Change 4.93% 0.0% 7.69%
% of Gross Profit 93.49% 76.01% 87.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.98K $107.1K $39.04K
YoY Change 16.56% 115.5%
% of Gross Profit 1.13% 0.96% 0.88%
Operating Expenses $2.481M $15.49M $3.905M
YoY Change 4.93% 3.61% 8.78%
Operating Profit $172.8K -$4.350M $518.7K
YoY Change -59.91% 122.13% 172.99%
Interest Expense $31.00K $121.6K -$32.11K
YoY Change 21.88% -9.19% -35.78%
% of Operating Profit 17.94% -6.19%
Other Income/Expense, Net -$31.00K $1.936M $5.663M
YoY Change 21.88% -1545.5%
Pretax Income -$1.279M -$2.535M $6.150M
YoY Change 104.5% -171.0% 3999.73%
Income Tax $4.734K $781.1K $119.0K
% Of Pretax Income 1.93%
Net Earnings -$1.284M -$3.316M $6.031M
YoY Change 151.27% -183.8% 5930.64%
Net Earnings / Revenue -27.69% -14.48% 76.97%
Basic Earnings Per Share -$0.05
Diluted Earnings Per Share -$18.28K -$0.05 $49.66K
COMMON SHARES
Basic Shares Outstanding 73.12M 70.22M
Diluted Shares Outstanding 70.22M

Balance Sheet

Concept 2020 Q1 2019 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $753.3K $1.099M $844.3K
YoY Change -11.56% 30.2% 5.54%
Cash & Equivalents $753.3K $1.099M $844.3K
Short-Term Investments
Other Short-Term Assets $117.4K $39.85K $29.55K
YoY Change 264.28% 34.86% -1.5%
Inventory $7.802M $7.856M $11.08M
Prepaid Expenses
Receivables $4.414M $6.174M $5.226M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $13.09M $15.17M $17.18M
YoY Change -13.35% -11.68% -4.76%
LONG-TERM ASSETS
Property, Plant & Equipment $43.77K $32.64K $42.97K
YoY Change 16.38% -24.04% 154.36%
Goodwill $1.973M $2.905M
YoY Change 254.0%
Intangibles $1.186M $1.288M
YoY Change -6.42%
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $3.203M $3.212M $4.997M
YoY Change -37.15% -35.72% 312.02%
TOTAL ASSETS
Total Short-Term Assets $13.09M $15.17M $17.18M
Total Long-Term Assets $3.203M $3.212M $4.997M
Total Assets $16.29M $18.38M $22.17M
YoY Change -19.36% -17.1% 15.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.572M $2.753M $2.713M
YoY Change 69.37% 1.47% 4.82%
Accrued Expenses $2.763M $3.303M $2.784M
YoY Change 17.4% 18.63% 52.09%
Deferred Revenue
YoY Change
Short-Term Debt $1.653M $1.903M $1.627M
YoY Change 6.88% 16.9% -54.41%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.988M $7.958M $7.125M
YoY Change 28.96% 11.7% -10.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.65M $11.65M $13.58M
YoY Change -14.26% -14.26% -29.41%
Total Long-Term Liabilities $11.65M $11.65M $13.58M
YoY Change -14.26% -14.26% -29.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.988M $7.958M $7.125M
Total Long-Term Liabilities $11.65M $11.65M $13.58M
Total Liabilities $18.63M $19.60M $20.71M
YoY Change -1.93% -5.32% -23.95%
SHAREHOLDERS EQUITY
Retained Earnings -$3.880M $751.8K
YoY Change
Common Stock $1.536M $714.9K
YoY Change 60.15% -108.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.343M -$1.222M $1.467M
YoY Change
Total Liabilities & Shareholders Equity $16.29M $18.38M $22.17M
YoY Change -19.36% -17.1% 15.2%

Cashflow Statement

Concept 2020 Q1 2019 2018 Q4
OPERATING ACTIVITIES
Net Income -$1.284M -$3.316M $6.031M
YoY Change 151.27% -183.8% 5930.64%
Depreciation, Depletion And Amortization $29.98K $107.1K $39.04K
YoY Change 16.56% 115.5%
Cash From Operating Activities -$76.10K -$4.739K -$458.6K
YoY Change -186.47% -100.19% 358.61%
INVESTING ACTIVITIES
Capital Expenditures $20.76K $15.32K $0.00
YoY Change -63.39%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$20.76K -$15.32K $0.00
YoY Change -85.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -249.2K 275.1K 713.9K
YoY Change 209.25% -111.78% 2279.63%
NET CHANGE
Cash From Operating Activities -76.10K -4.739K -458.6K
Cash From Investing Activities -20.76K -15.32K 0.000
Cash From Financing Activities -249.2K 275.1K 713.9K
Net Change In Cash -346.0K 255.0K 255.3K
YoY Change -4752.98% 543.95% -464.69%
FREE CASH FLOW
Cash From Operating Activities -$76.10K -$4.739K -$458.6K
Capital Expenditures $20.76K $15.32K $0.00
Free Cash Flow -$96.86K -$20.06K -$458.6K
YoY Change -100.82% 358.61%

Facts In Submission

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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="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 consolidated financial statements in accordance with generally accepted accounting principles in the United States of America (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 in the accompanying 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 expectation of future taxable income and allowable deductions and the fair value calculations of stock-based compensation and earn-out liability. (See Note 3, &#8220;CPM Acquisition&#8221;)</p>
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