$HDSN
HUDSON TECHNOLOGIES INC /NY

2015 Q2 Form 10-Q Financial Statement

#000114420415045176 Filed on July 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $28.64M $16.88M
YoY Change 69.7% 7.02%
Cost Of Revenue $21.43M $14.67M
YoY Change 46.02% 10.99%
Gross Profit $7.212M $2.202M
YoY Change 227.52% -13.58%
Gross Profit Margin 25.18% 13.05%
Selling, General & Admin $2.451M $1.545M
YoY Change 58.64% -12.91%
% of Gross Profit 33.99% 70.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $540.0K $200.0K
YoY Change 170.0% 5.26%
% of Gross Profit 7.49% 9.08%
Operating Expenses $2.451M $1.545M
YoY Change 58.64% -12.91%
Operating Profit $4.761M $657.0K
YoY Change 624.66% -15.12%
Interest Expense $236.0K $186.0K
YoY Change 26.88% -23.46%
% of Operating Profit 4.96% 28.31%
Other Income/Expense, Net -$236.0K -$186.0K
YoY Change 26.88% -23.46%
Pretax Income $4.525M $471.0K
YoY Change 860.72% -11.3%
Income Tax $1.714M $163.0K
% Of Pretax Income 37.88% 34.61%
Net Earnings $2.811M $308.0K
YoY Change 812.66% -7.78%
Net Earnings / Revenue 9.82% 1.83%
Basic Earnings Per Share $0.09 $0.01
Diluted Earnings Per Share $0.08 $0.01
COMMON SHARES
Basic Shares Outstanding 32.54M shares 26.27M shares
Diluted Shares Outstanding 34.38M shares 27.85M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.500M $1.900M
YoY Change -21.05% -20.83%
Cash & Equivalents $1.483M $1.893M
Short-Term Investments
Other Short-Term Assets $5.200M $3.500M
YoY Change 48.57% 9.38%
Inventory $44.95M $24.52M
Prepaid Expenses
Receivables $14.68M $10.16M
Other Receivables $0.00 $1.700M
Total Short-Term Assets $66.31M $41.82M
YoY Change 58.55% -39.18%
LONG-TERM ASSETS
Property, Plant & Equipment $7.808M $4.422M
YoY Change 76.57% -9.81%
Goodwill $2.603M
YoY Change
Intangibles $3.522M $44.00K
YoY Change 7904.55% -29.03%
Long-Term Investments $400.0K
YoY Change -66.67%
Other Assets $100.0K $111.0K
YoY Change -9.91% -61.86%
Total Long-Term Assets $17.25M $10.04M
YoY Change 71.75% 2.33%
TOTAL ASSETS
Total Short-Term Assets $66.31M $41.82M
Total Long-Term Assets $17.25M $10.04M
Total Assets $83.55M $51.86M
YoY Change 61.11% -34.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.80M $6.600M
YoY Change 169.7% -27.47%
Accrued Expenses $400.0K $300.0K
YoY Change 33.33% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.30M $300.0K
YoY Change 3333.33% -98.78%
Total Short-Term Liabilities $28.48M $7.123M
YoY Change 299.87% -79.71%
LONG-TERM LIABILITIES
Long-Term Debt $4.441M $528.0K
YoY Change 741.1% -89.05%
Other Long-Term Liabilities $1.533M
YoY Change
Total Long-Term Liabilities $5.974M $528.0K
YoY Change 1031.44% -89.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.48M $7.123M
Total Long-Term Liabilities $5.974M $528.0K
Total Liabilities $34.46M $7.651M
YoY Change 350.36% -80.84%
SHAREHOLDERS EQUITY
Retained Earnings -$13.13M -$16.64M
YoY Change -21.13% 157.4%
Common Stock $326.0K $320.0K
YoY Change 1.88% 27.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $49.10M $44.21M
YoY Change
Total Liabilities & Shareholders Equity $83.55M $51.86M
YoY Change 61.11% -34.0%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $2.811M $308.0K
YoY Change 812.66% -7.78%
Depreciation, Depletion And Amortization $540.0K $200.0K
YoY Change 170.0% 5.26%
Cash From Operating Activities $310.0K $1.980M
YoY Change -84.34% -130.51%
INVESTING ACTIVITIES
Capital Expenditures -$490.0K -$200.0K
YoY Change 145.0% -41.18%
Acquisitions
YoY Change
Other Investing Activities $0.00 $40.00K
YoY Change -100.0% 0.0%
Cash From Investing Activities -$490.0K -$160.0K
YoY Change 206.25% -44.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.200M -2.410M
YoY Change -149.79% -131.22%
NET CHANGE
Cash From Operating Activities 310.0K 1.980M
Cash From Investing Activities -490.0K -160.0K
Cash From Financing Activities 1.200M -2.410M
Net Change In Cash 1.020M -590.0K
YoY Change -272.88% -162.77%
FREE CASH FLOW
Cash From Operating Activities $310.0K $1.980M
Capital Expenditures -$490.0K -$200.0K
Free Cash Flow $800.0K $2.180M
YoY Change -63.3% -135.45%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-17829000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
49097000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
43999000 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
83554000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
59935000 USD
CY2014Q4 us-gaap Goodwill
Goodwill
265000 USD
CY2015Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
61896000 USD
CY2014Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
61505000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-13125000 USD
CY2015Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3522000 USD
CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2322000 USD
CY2015Q2 us-gaap Assets
Assets
83554000 USD
dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2014Q4 us-gaap Inventory Net
InventoryNet
37017000 USD
dei Entity Central Index Key
EntityCentralIndexKey
0000925528
CY2014Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3968000 USD
dei Document Type
DocumentType
10-Q
CY2015Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
14675000 USD
CY2015Q2 us-gaap Inventory Net
InventoryNet
44953000 USD
dei Amendment Flag
AmendmentFlag
false
dei Entity Registrant Name
EntityRegistrantName
HUDSON TECHNOLOGIES INC /NY
CY2015Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
32621045 shares
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Trading Symbol
TradingSymbol
HDSN
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1483000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
935000 USD
CY2015Q2 us-gaap Common Stock Value
CommonStockValue
326000 USD
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
323000 USD
CY2015Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
401000 USD
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
384000 USD
CY2014Q4 us-gaap Assets
Assets
59935000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1011000 USD
CY2015Q2 us-gaap Assets Current
AssetsCurrent
66309000 USD
CY2014Q4 us-gaap Assets Current
AssetsCurrent
43328000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7808000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7887000 USD
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
100000 USD
CY2015Q2 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
397000 USD
CY2014Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
397000 USD
CY2015Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4801000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
102000 USD
CY2015Q2 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
3212000 USD
CY2014Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
6031000 USD
CY2015Q2 us-gaap Goodwill
Goodwill
2603000 USD
CY2015Q2 us-gaap Debt Current
DebtCurrent
10290000 USD
CY2014Q4 us-gaap Debt Current
DebtCurrent
6320000 USD
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
28483000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
11214000 USD
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1533000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
333000 USD
CY2015Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4441000 USD
CY2014Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4389000 USD
CY2015Q2 us-gaap Liabilities
Liabilities
34457000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
15936000 USD
CY2015Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
17792000 USD
CY2014Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
4510000 USD
CY2015Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q1 hdsn Business Acquisition Purchase Price Allocation Description
BusinessAcquisitionPurchasePriceAllocationDescription
The purchase price for this acquisition was $2,424,000 cash paid at closing and the assumption of a liability of $20,000, plus a maximum of an additional $3,000,000 earn out, of which approximately $300,000 was paid out during the quarter ended June 30, 2015. The remaining balance of $2,700,000 is accrued on the consolidated balance sheet as of June 30, 2015.
CY2015Q1 hdsn Number Of Employees
NumberOfEmployees
3 pure
CY2015Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
1606000 USD
CY2015Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
1500000 USD
CY2015Q1 us-gaap Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount
2338000 USD
CY2015Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P6Y
CY2015Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3000000 USD
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2015Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
32621045 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
32312276 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
32312276 shares
CY2015Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
32621045 shares
us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
Interest charges with respect to loans are computed on the actual principal amount of loans outstanding during the month at a rate per annum equal to (A) with respect to Domestic Rate Loans (as defined in the PNC Facility), the sum of the Alternate Base Rate (as defined in the PNC Facility) plus one percent (1.00%) and (B) with respect to Eurodollar Rate Loans, the sum of the Eurodollar Rate plus 2.75%.
CY2015Q2 us-gaap Revenues
Revenues
28637000 USD
CY2014Q2 us-gaap Revenues
Revenues
16875000 USD
us-gaap Revenues
Revenues
50740000 USD
us-gaap Revenues
Revenues
32459000 USD
CY2015Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
21425000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
152000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4143000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
548000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1224000 USD
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1893000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
308000 USD
us-gaap Net Income Loss
NetIncomeLoss
4704000 USD
us-gaap Net Income Loss
NetIncomeLoss
468000 USD
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2014Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
14673000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
38003000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
28454000 USD
CY2015Q2 us-gaap Gross Profit
GrossProfit
7212000 USD
CY2014Q2 us-gaap Gross Profit
GrossProfit
2202000 USD
us-gaap Gross Profit
GrossProfit
12737000 USD
us-gaap Gross Profit
GrossProfit
4005000 USD
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1054000 USD
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
614000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2014000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1264000 USD
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1397000 USD
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
931000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2692000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1617000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
2451000 USD
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
1545000 USD
us-gaap Operating Expenses
OperatingExpenses
4706000 USD
us-gaap Operating Expenses
OperatingExpenses
2881000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
4761000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
657000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
8031000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1124000 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
236000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
186000 USD
us-gaap Interest Expense
InterestExpense
443000 USD
us-gaap Interest Expense
InterestExpense
395000 USD
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-236000 USD
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-186000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-443000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-395000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4525000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
471000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
7588000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
729000 USD
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1714000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
163000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2884000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
261000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
2811000 USD
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32542672 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26267746 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32454175 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25679066 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34383092 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27846672 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34254901 shares
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
267000 USD
us-gaap Interest Paid
InterestPaid
345000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27357936 shares
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1083000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
411000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
48000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
77000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
18000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
62000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
50000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2819000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
276000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10755000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6457000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6486000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-9450000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3849000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2789000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
11799000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2601000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-498000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
5038000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
2424000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
549000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
284000 USD
us-gaap Investments In And Advances To Affiliates At Fair Value Period Increase Decrease
InvestmentsInAndAdvancesToAffiliatesAtFairValuePeriodIncreaseDecrease
0 USD
us-gaap Investments In And Advances To Affiliates At Fair Value Period Increase Decrease
InvestmentsInAndAdvancesToAffiliatesAtFairValuePeriodIncreaseDecrease
63000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2973000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-221000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
317000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
15639000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
3887000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-15089000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
4019000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-3593000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
669000 USD
us-gaap Interest Paid
InterestPaid
381000 USD
hdsn Noncash Or Par Tnoncash Deferred Acquisition Consideration
NoncashOrParTnoncashDeferredAcquisitionConsideration
2700000 USD
hdsn Noncash Or Par Tnoncash Deferred Acquisition Consideration
NoncashOrParTnoncashDeferredAcquisitionConsideration
0 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
0 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-1010000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Payments For Proceeds From Previous Acquisition
PaymentsForProceedsFromPreviousAcquisition
300000 USD
us-gaap Payments For Proceeds From Previous Acquisition
PaymentsForProceedsFromPreviousAcquisition
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0169 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.59 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif" align="justify">Credit Risk</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of temporary cash investments and trade accounts receivable. The Company maintains its temporary cash investments in highly-rated financial institutions and, at times, the balances exceed FDIC insurance coverage. The Company's trade accounts receivable are primarily due from companies throughout the United States. The Company reviews each customer's credit history before extending credit.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Company establishes an allowance for doubtful accounts based on factors associated with the credit risk of specific accounts, historical trends, and other information. The carrying value of the Company&#8217;s accounts receivable is reduced by the established allowance for doubtful accounts. The allowance for doubtful accounts includes any accounts receivable balances that are determined to be uncollectible, along with a general reserve for the remaining accounts receivable balances. The Company adjusts its reserves based on factors that affect the collectability of the accounts receivable balances.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 12pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">For the six month period ended June 30, 2015, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">two customers each accounted for 10% or more of the Company&#8217;s revenues</font> and, in the aggregate these two customers accounted for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 35</font>% of the Company&#8217;s revenues. At June 30, 2015, there were $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,309,000</font> in outstanding receivables from these customers.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">For the six month period ended June 30, 2014, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">two customers each accounted for 10% or more of the Company&#8217;s revenues</font> and, in the aggregate these two customers accounted for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 28</font>% of the Company&#8217;s revenues. At June 30, 2014, there were $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,230,000</font> in outstanding receivables from these customers.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The loss of a principal customer or a decline in the economic prospects of and/or a reduction in purchases of the Company's products or services by any such customer could have a material adverse effect on the Company's operating results and financial position.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
Approximately $7,300,000 of the Companys $9,000,000 of NOLs are subject to annual limitations of $1,300,000
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
75000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
75000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
80843 shares
CY2013 hdsn Production Or Importation Of Hcfc
ProductionOrImportationOfHcfc
63000000 lb
CY2014 hdsn Production Or Importation Of Hcfc
ProductionOrImportationOfHcfc
51000000 lb
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
793000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P2Y
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif" align="justify">Estimates and Risks</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect reported amounts of certain assets and liabilities, the disclosure of contingent assets and liabilities, and the results of operations during the reporting period. Actual results could differ from these estimates.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 12pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Company utilizes both internal and external sources to evaluate potential current and future liabilities for various commitments and contingencies. In the event that the assumptions or conditions change in the future, the estimates could differ from the original estimates.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Several of the Company's accounting policies involve significant judgments, uncertainties and estimates. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions. To the extent that actual results differ from management's judgments and estimates, there could be a material adverse effect on the Company. On a continuous basis, the Company evaluates its estimates, including, but not limited to, those estimates related to its allowance for doubtful accounts, inventory reserves, and valuation allowance for the deferred tax assets relating to its NOLs and commitments and contingencies. With respect to accounts receivable, the Company estimates the necessary allowance for doubtful accounts based on both historical and anticipated trends of payment history and the ability of the customer to fulfill its obligations. For inventory, the Company evaluates both current and anticipated sales prices of its products to determine if a write down of inventory to net realizable value is necessary. In determining the Company&#8217;s valuation allowance for its deferred tax assets, the Company assesses its ability to generate taxable income in the future.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Company participates in an industry that is highly regulated, and changes in the regulations affecting our business could affect our operating results. Currently the Company purchases virgin hydrochlorofluorocarbon (&#8220;HCFC&#8221;) and hydrofluorocarbon (&#8220;HFC&#8221;) refrigerants and reclaimable, primarily HCFC, HFC and chlorofluorocarbon (&#8220;CFC&#8221;), refrigerants from suppliers and its customers. Effective January 1, 1996, the Clean Air Act (the &#8220;Act&#8221;) prohibited the production of virgin CFC refrigerants and limited the production of virgin HCFC refrigerants. Effective January 2004, the Act further limited the production of virgin HCFC refrigerants and federal regulations were enacted which established production and consumption allowances for HCFC refrigerants which imposed limitations on the importation of certain virgin HCFC refrigerants. Under the Act, production of certain virgin HCFC refrigerants is scheduled to be phased out during the period 2010 through 2020, and production of all virgin HCFC refrigerants is scheduled to be phased out by 2030. As a result of litigation, the federal regulations implementing the January 2010 phase down schedule were vacated, and in April 2013, the Environmental Protection Agency (&#8220;EPA&#8221;) published a final rule providing for the production or importation of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">63</font> million and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">51</font> million pounds of HCFC-22 in 2013 and 2014, respectively. On October 16, 2014, the Administrator of the EPA signed a final rule providing further reductions in the production and consumption allowances for virgin HCFC refrigerants for the years 2015 through 2019 (the &#8220;Final Rule&#8221;). In the Final Rule, the EPA established a linear draw down for the production or importation of virgin HCFC-22 that starts at approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">22 million pounds in 2015 and reduces by approximately 4.5 million pounds each year and ends at zero in 2020</font>.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">To the extent that the Company is unable to source sufficient quantities of refrigerants or is unable to obtain refrigerants on commercially reasonable terms or experiences a decline in demand and/or price for refrigerants sold by the Company, the Company could realize reductions in revenue from refrigerant sales, which could have a material adverse effect on its operating results and its financial position.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Company is subject to various legal proceedings. The Company assesses the merit and potential liability associated with each of these proceedings. In addition, the Company estimates potential liability, if any, related to these matters. To the extent that these estimates are not accurate, or circumstances change in the future, the Company could realize liabilities, which could have a material adverse effect on its operating results and its financial position.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
48172000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
29666000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2568000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2793000 USD
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4300000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
940000 USD
hdsn Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodTotalIntrinsicValue
15000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
77000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18000 USD
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
6000000 shares
CY2015Q2 us-gaap Deferred Compensation Arrangement With Individual Common Stock Reserved For Future Issuance
DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance
4410864 shares
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.35 pure
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.28 pure
CY2015Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
3609000 USD
CY2014Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
6428000 USD
CY2015Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
70000 USD
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
two customers each accounted for 10% or more of the Companys revenues
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
two customers each accounted for 10% or more of the Companys revenues
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
1991-01-11
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
80843 shares
CY2013Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
40000000 USD
CY2013Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
50000 USD
CY2015Q2 us-gaap Line Of Credit
LineOfCredit
13942000 USD
CY2015Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
19063000 USD
CY2015Q2 us-gaap Line Of Credit Facility Interest Rate At Period End
LineOfCreditFacilityInterestRateAtPeriodEnd
0.0425 pure
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2018-06-30
hdsn Production And Importation Permission Description
ProductionAndImportationPermissionDescription
22 million pounds in 2015 and reduces by approximately 4.5 million pounds each year and ends at zero in 2020

Files In Submission

Name View Source Status
0001144204-15-045176-index-headers.html Edgar Link pending
0001144204-15-045176-index.html Edgar Link pending
0001144204-15-045176.txt Edgar Link pending
0001144204-15-045176-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
hdsn-20150630.xml Edgar Link completed
hdsn-20150630.xsd Edgar Link pending
hdsn-20150630_cal.xml Edgar Link unprocessable
hdsn-20150630_def.xml Edgar Link unprocessable
hdsn-20150630_lab.xml Edgar Link unprocessable
hdsn-20150630_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
v416169_10q.htm Edgar Link pending
v416169_ex31-1.htm Edgar Link pending
v416169_ex31-2.htm Edgar Link pending
v416169_ex32-1.htm Edgar Link pending
v416169_ex32-2.htm Edgar Link pending