2016 Q2 Form 10-Q Financial Statement

#000114420416101014 Filed on May 12, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $28.00K $0.00 $0.00
YoY Change -61.64% -100.0%
Cost Of Revenue $44.00K $0.00 $0.00
YoY Change 18.92% -100.0%
Gross Profit -$16.00K $0.00 $0.00
YoY Change -144.44% -100.0%
Gross Profit Margin -57.14%
Selling, General & Admin $1.230M $1.094M $1.378M
YoY Change -64.68% -20.61% -23.44%
% of Gross Profit
Research & Development $1.680M $1.378M $1.242M
YoY Change 60.0% 10.95% 2.05%
% of Gross Profit
Depreciation & Amortization $110.0K $111.0K $112.0K
YoY Change -8.33% -0.89% 100.0%
% of Gross Profit
Operating Expenses $2.906M $2.472M $2.620M
YoY Change -35.92% -5.65% -13.16%
Operating Profit -$2.922M -$2.472M -$2.620M
YoY Change -35.05% -5.65% -12.84%
Interest Expense $210.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 -$3.000K
YoY Change -100.0%
Pretax Income -$2.712M -$2.472M -$2.623M
YoY Change -39.72% -5.76% -12.74%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.712M -$2.472M -$2.623M
YoY Change -39.72% -5.76% -12.74%
Net Earnings / Revenue -9685.71%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.474M -$3.479M -$5.955M
COMMON SHARES
Basic Shares Outstanding 14.11M shares 14.11M shares 10.07M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.100M $4.850M $12.16M
YoY Change -20.04% -60.12% -3.57%
Cash & Equivalents $8.100M $4.848M $12.16M
Short-Term Investments
Other Short-Term Assets $160.0K $490.0K $270.0K
YoY Change -5.88% 81.48% -22.86%
Inventory $50.00K $79.00K $210.0K
Prepaid Expenses $485.0K $269.0K
Receivables $40.00K $18.00K $0.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.340M $5.430M $12.65M
YoY Change -21.17% -57.07% -3.44%
LONG-TERM ASSETS
Property, Plant & Equipment $1.080M $1.135M $1.269M
YoY Change -10.0% -10.56% 66.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.080M $1.135M $1.269M
YoY Change -10.0% -10.56% 66.97%
TOTAL ASSETS
Total Short-Term Assets $8.340M $5.430M $12.65M
Total Long-Term Assets $1.080M $1.135M $1.269M
Total Assets $9.420M $6.565M $13.92M
YoY Change -20.03% -52.83% 0.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $600.0K $264.0K $261.0K
YoY Change 87.5% 1.15% -36.34%
Accrued Expenses $410.0K $120.0K $400.0K
YoY Change 86.36% -70.0% 33.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.940M $388.0K $674.0K
YoY Change 228.81% -42.43% -22.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.940M $388.0K $674.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.940M $388.0K $674.0K
YoY Change 228.81% -42.43% -22.53%
SHAREHOLDERS EQUITY
Retained Earnings -$27.21M -$15.66M
YoY Change 73.78% 214.42%
Common Stock $141.0K $101.0K
YoY Change 39.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.480M $6.177M $13.24M
YoY Change
Total Liabilities & Shareholders Equity $9.420M $6.565M $13.92M
YoY Change -20.04% -52.84% 0.43%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$2.712M -$2.472M -$2.623M
YoY Change -39.72% -5.76% -12.74%
Depreciation, Depletion And Amortization $110.0K $111.0K $112.0K
YoY Change -8.33% -0.89% 100.0%
Cash From Operating Activities -$1.500M -$2.480M -$1.690M
YoY Change -25.74% 46.75% 19.86%
INVESTING ACTIVITIES
Capital Expenditures -$90.00K $128.0K $6.000K
YoY Change 800.0% 2033.33% -97.52%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$90.00K -$130.0K -$10.00K
YoY Change 800.0% 1200.0% -95.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $3.237M
YoY Change -100.0% 1210.53%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.850M 0.000 8.590M
YoY Change -100.0% 3336.0%
NET CHANGE
Cash From Operating Activities -1.500M -2.480M -1.690M
Cash From Investing Activities -90.00K -130.0K -10.00K
Cash From Financing Activities 4.850M 0.000 8.590M
Net Change In Cash 3.260M -2.610M 6.890M
YoY Change -260.59% -137.88% -592.14%
FREE CASH FLOW
Cash From Operating Activities -$1.500M -$2.480M -$1.690M
Capital Expenditures -$90.00K $128.0K $6.000K
Free Cash Flow -$1.410M -$2.608M -$1.696M
YoY Change -29.85% 53.77% 2.66%

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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-SIZE: 10pt">Reclassification</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-SIZE: 10pt">&#160;</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Sales and marketing expenses of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">107</font> thousand for the three months ended March 31, 2015 has been reclassified to selling, general and administrative expenses to conform to the 2016 presentation.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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