2018 Q1 Form 10-Q Financial Statement

#000114420418027130 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $42.43M $38.83M
YoY Change 9.27% 37.86%
Cost Of Revenue $34.52M $26.36M
YoY Change 30.95% 27.7%
Gross Profit $7.905M $12.47M
YoY Change -36.59% 65.74%
Gross Profit Margin 18.63% 32.11%
Selling, General & Admin $8.077M $2.952M
YoY Change 173.61% 17.94%
% of Gross Profit 102.18% 23.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.012M $483.0K
YoY Change 109.52% -20.3%
% of Gross Profit 12.8% 3.87%
Operating Expenses $8.819M $3.074M
YoY Change 186.89% 22.81%
Operating Profit -$914.0K $9.393M
YoY Change -109.73% 87.15%
Interest Expense $3.206M $85.00K
YoY Change 3671.76% -131.48%
% of Operating Profit 0.9%
Other Income/Expense, Net -$3.206M -$85.00K
YoY Change 3671.76% -68.63%
Pretax Income -$4.120M $9.308M
YoY Change -144.26% 96.04%
Income Tax -$1.064M $3.574M
% Of Pretax Income 38.4%
Net Earnings -$3.056M $5.734M
YoY Change -153.3% 94.77%
Net Earnings / Revenue -7.2% 14.77%
Basic Earnings Per Share -$0.07 $0.14
Diluted Earnings Per Share -$0.07 $0.13
COMMON SHARES
Basic Shares Outstanding 42.40M 41.51M
Diluted Shares Outstanding 42.40M 43.50M

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.000M $40.20M
YoY Change -97.51% 3250.0%
Cash & Equivalents $978.0K $40.16M
Short-Term Investments
Other Short-Term Assets $3.900M $6.300M
YoY Change -38.1% 53.66%
Inventory $170.9M $72.40M
Prepaid Expenses
Receivables $26.90M $20.70M
Other Receivables $9.600M $0.00
Total Short-Term Assets $212.3M $139.5M
YoY Change 52.21% 82.59%
LONG-TERM ASSETS
Property, Plant & Equipment $29.66M $7.400M
YoY Change 300.74% 2.78%
Goodwill $49.46M
YoY Change
Intangibles $31.68M
YoY Change
Long-Term Investments
YoY Change
Other Assets $184.0K $2.100M
YoY Change -91.24% 31.25%
Total Long-Term Assets $111.0M $13.60M
YoY Change 716.03% 2.26%
TOTAL ASSETS
Total Short-Term Assets $212.3M $139.5M
Total Long-Term Assets $111.0M $13.60M
Total Assets $323.3M $153.1M
YoY Change 111.18% 70.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.20M $29.00M
YoY Change 0.69% 663.16%
Accrued Expenses $19.10M $2.400M
YoY Change 695.83% -17.24%
Deferred Revenue
YoY Change
Short-Term Debt $52.10M $0.00
YoY Change
Long-Term Debt Due $1.050M $100.0K
YoY Change 950.0% -99.62%
Total Short-Term Liabilities $101.5M $34.96M
YoY Change 190.23% 6.26%
LONG-TERM LIABILITIES
Long-Term Debt $101.0M $129.0K
YoY Change 78191.47% -96.93%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $101.0M $129.0K
YoY Change 78191.47% -96.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $101.5M $34.96M
Total Long-Term Liabilities $101.0M $129.0K
Total Liabilities $202.9M $35.09M
YoY Change 478.16% -5.42%
SHAREHOLDERS EQUITY
Retained Earnings $5.670M $3.304M
YoY Change 71.61% -132.64%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $120.4M $118.0M
YoY Change
Total Liabilities & Shareholders Equity $323.3M $153.1M
YoY Change 111.16% 70.63%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$3.056M $5.734M
YoY Change -153.3% 94.77%
Depreciation, Depletion And Amortization $1.012M $483.0K
YoY Change 109.52% -20.3%
Cash From Operating Activities $9.503M $6.943M
YoY Change 36.87% -221.38%
INVESTING ACTIVITIES
Capital Expenditures $206.0K $369.0K
YoY Change -44.17% 177.44%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$206.0K -$369.0K
YoY Change -44.17% 183.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $17.00K $267.0K
YoY Change -93.63% -3.96%
Debt Paid & Issued, Net $263.0K $85.00K
YoY Change 209.41% -8.6%
Cash From Financing Activities -13.32M -$346.0K
YoY Change 3750.0% -106.0%
NET CHANGE
Cash From Operating Activities 9.503M $6.943M
Cash From Investing Activities -206.0K -$369.0K
Cash From Financing Activities -13.32M -$346.0K
Net Change In Cash -4.024M $6.228M
YoY Change -164.61% -7885.0%
FREE CASH FLOW
Cash From Operating Activities $9.503M $6.943M
Capital Expenditures $206.0K $369.0K
Free Cash Flow $9.297M $6.574M
YoY Change 41.42% -212.32%

Facts In Submission

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CommitmentsAndContingencies
USD
CY2018Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2018Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2018Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2018Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
42403140 shares
CY2018Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
42403140 shares
CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
42398140 shares
CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
42398140 shares
CY2018Q1 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: 10pt Times New Roman, Times, Serif" align="justify"><strong>Credit Risk</strong></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; font-size-adjust: none; font-stretch: normal" 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&#8217;s trade accounts receivable are primarily due from companies throughout the United States. The Company reviews each customer&#8217;s credit history before extending credit.</div> &#160; <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.&#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">&#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"> <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 three-month period ended March 31, 2018, there was <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">one customer accounting for 11% of the Company&#8217;s revenues</font>. At March 31, 2018 there was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4.0</font> million of accounts receivable from this customer.</div> </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 three-month period ended March 31, 2017, <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"> 39</font>% of the Company&#8217;s revenues. At March 31, 2017, there were $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">7.1</font> million in outstanding receivables from these customers.&#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">&#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&#8217;s products or services by any such customer could have a material adverse effect on the Company&#8217;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>
CY2018Q1 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: 10pt Times New Roman, Times, Serif" align="justify"><strong>Estimates and Risks</strong></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 the use of estimates and assumptions that affect the amounts reported in these financial statements and footnotes. The Company considers these accounting estimates to be critical in the preparation of the accompanying consolidated financial statements. The Company uses information available at the time the estimates are made. However, these estimates could change materially if different information or assumptions were used. Additionally, these estimates may not ultimately reflect the actual amounts of the final transactions that occur. 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;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; font-size-adjust: none; font-stretch: normal" align="justify">Several of the Company&#8217;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&#8217;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, valuation allowances for deferred tax assets, 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> &#160; <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 productionof all virgin HCFC refrigerants is scheduled to be phased out by 2030. In October 2014, the EPA published 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 started at approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">22 million pounds in 2015 and was reduced by approximately 4.5 million pounds each year and ending 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>
CY2018Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
41101000 USD
CY2017Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
37670000 USD
CY2018Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1327000 USD
CY2017Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1160000 USD
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1995948 shares
CY2017Q1 us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
two customers each accounted for 10% or more of the Companys revenues
CY2017Q4 us-gaap Payables To Customers
PayablesToCustomers
9800000 USD
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2948848 shares
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2948848 shares
CY2018Q1 hdsn Production And Importation Permission Description
ProductionAndImportationPermissionDescription
22 million pounds in 2015 and was reduced by approximately 4.5 million pounds each year and ending at zero in 2020.
CY2018Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
1991-01-11
CY2017Q1 hdsn Earnings Before Interest Tax Depreciation And Amortization
EarningsBeforeInterestTaxDepreciationAndAmortization
21900000 USD
CY2017Q2 hdsn Earnings Before Interest Tax Depreciation And Amortization
EarningsBeforeInterestTaxDepreciationAndAmortization
26100000 USD
CY2017 hdsn Fixed Charges Coverage Ratio
FixedChargesCoverageRatio
6.47 to 1
CY2018Q1 hdsn Fixed Charge Coverage Ratio Requirement
FixedChargeCoverageRatioRequirement
1.00 to 1.00
CY2018Q1 hdsn Ratios Of Indebtedness To Net Capital Requirement
RatiosOfIndebtednessToNetCapitalRequirement
4.75 to 1.00
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2840848 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.14
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y1M20D
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
20000 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2017Q4 hdsn Sharebased Compensation Arrangement By Sharebased Payment Award Options Aggregate Intrinsic Value Nonvested
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsAggregateIntrinsicValueNonvested
0 USD
CY2018Q1 hdsn Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable And Vested Intrinsic Value1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableAndVestedIntrinsicValue1
13950 USD
CY2017Q4 hdsn Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable And Vested Intrinsic Value1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableAndVestedIntrinsicValue1
260747 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
206000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
369000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
17000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
267000 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-13075000 USD
CY2017Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
0 USD
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 USD
CY2018Q1 us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
one customer accounting for 11% of the Companys revenues
CY2018Q1 hdsn Fixed Charges Coverage Ratio
FixedChargesCoverageRatio
3.31 to 1
CY2018Q1 hdsn Ratios Of Indebtedness To Net Capital
RatiosOfIndebtednessToNetCapital
4.23 to 1
CY2017 hdsn Ratios Of Indebtedness To Net Capital
RatiosOfIndebtednessToNetCapital
3.03 to 1
CY2018Q1 us-gaap Fees And Commissions
FeesAndCommissions
600000 USD
CY2017Q1 us-gaap Fees And Commissions
FeesAndCommissions
600000 USD
CY2018Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
5400000 USD
CY2018Q1 us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
$4.1 million of which are subject to annual limitations of approximately $1.3 million.
CY2018Q1 hdsn Operating Loss Carry Forwards Expirations Date
OperatingLossCarryForwardsExpirationsDate
2024

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