$INSE
Inspired Entertainment, Inc.

2016 Q1 Form 10-K Financial Statement

#000114420416088189 Filed on March 15, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $4.628M $4.705M
YoY Change
Gross Profit -$4.628M -$4.705M
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $281.2K $724.5K $3.530M
YoY Change 44.16% 425.09% 3430.45%
Operating Profit -$281.2K -$5.430M -$3.530M
YoY Change 44.16%
Interest Expense $30.00K $0.00 $0.00
YoY Change 200.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$250.0K -$730.0K -$3.500M
YoY Change 31.58% 421.43% 3400.0%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$246.4K -$728.5K -$3.526M
YoY Change 32.25% 427.99% 3426.21%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$83.06K -$248.3K -$1.250M
COMMON SHARES
Basic Shares Outstanding 10.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q4 2015
SHORT-TERM ASSETS
Cash & Short-Term Investments $500.0K $300.0K $300.0K
YoY Change -44.44% -72.73% -72.73%
Cash & Equivalents $520.0K $256.2K $300.0K
Short-Term Investments
Other Short-Term Assets $100.0K $100.0K $100.0K
YoY Change -50.0% -50.0%
Inventory
Prepaid Expenses $137.9K $62.59K
Receivables
Other Receivables
Total Short-Term Assets $657.8K $318.8K $300.0K
YoY Change -26.91% -75.24% -76.92%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $80.00M $80.00M $80.00M
YoY Change -0.12% 0.0% 0.0%
Total Long-Term Assets $80.05M $80.01M $80.00M
YoY Change -0.19% 0.0% 0.0%
TOTAL ASSETS
Total Short-Term Assets $657.8K $318.8K $300.0K
Total Long-Term Assets $80.05M $80.01M $80.00M
Total Assets $80.70M $80.33M $80.30M
YoY Change -0.49% -1.19% -1.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.800M $2.600M $2.600M
YoY Change 2500.0% 2500.0%
Accrued Expenses
YoY Change
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 $3.266M $2.646M $2.600M
YoY Change 2983.94% 2500.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.800M $2.800M $2.800M
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Liabilities $2.800M $2.800M $2.800M
YoY Change 0.0% 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.266M $2.646M $2.600M
Total Long-Term Liabilities $2.800M $2.800M $2.800M
Total Liabilities $6.066M $5.446M $5.400M
YoY Change 116.63% 88.71% 86.21%
SHAREHOLDERS EQUITY
Retained Earnings -$3.914M -$3.668M
YoY Change 1093.99% 2491.51%
Common Stock $304.00 $301.00
YoY Change 13.43% 13.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.000M $5.000M $74.90M
YoY Change
Total Liabilities & Shareholders Equity $80.70M $80.33M $80.30M
YoY Change -0.43% -1.19% -1.23%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015
OPERATING ACTIVITIES
Net Income -$246.4K -$728.5K -$3.526M
YoY Change 32.25% 427.99% 3426.21%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$240.0K -$150.0K -$870.0K
YoY Change -7.69% 7.14% 383.33%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 500.0K 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -240.0K -150.0K -870.0K
Cash From Investing Activities 0.000 $0.00
Cash From Financing Activities 500.0K 0.000 0.000
Net Change In Cash 260.0K -150.0K $0.00
YoY Change -200.0% -114.02% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$240.0K -$150.0K -$870.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015 dei Document Fiscal Period Focus
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CY2015 dei Entity Central Index Key
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CY2015 dei Current Fiscal Year End Date
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CY2015 dei Amendment Flag
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CY2015 dei Document Period End Date
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CY2015 dei Document Fiscal Year Focus
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CY2015 dei Entity Registrant Name
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CY2015 dei Document Type
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CY2015 dei Entity Well Known Seasoned Issuer
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CY2015 dei Entity Voluntary Filers
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CY2015 dei Entity Current Reporting Status
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CY2015 dei Entity Filer Category
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CY2015 dei Trading Symbol
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us-gaap Heldtomaturity Securities Continuous Unrealized Loss Position Aggregate Loss
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Proceeds From Issuance Of Common Stock
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CY2015 hdrau Liquidation Condition
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If the Company is unable to complete a Business Combination within 24 months from the closing of the Initial Public Offering (the Combination Period), the Company will (i) cease all operations except for the purposes of winding up its affairs; (ii) distribute the aggregate amount then on deposit in the Trust Account, including a portion of the interest earned thereon (net of any taxes payable, and less up to $50,000 of interest to pay dissolution expenses), pro rata to the Companys public stockholders by way of redemption of the Companys public shares (which redemption would completely extinguish such holders rights as stockholders, including the right to receive further liquidation distributions, if any); and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of the Companys net assets to its remaining stockholders, as part of the Companys plan of dissolution and liquidation.
CY2015 us-gaap Use Of Estimates
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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;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>Use of estimates</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future events. Accordingly, the actual results could differ significantly from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2015 us-gaap Concentration Risk Credit Risk
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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;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>Concentration of credit risk</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times may exceed the Federal depository insurance coverage of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">250,000</font>. At December 31, 2015, the Company had not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
hdrau Sale Of Shares For Private Placement Warrants
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InterestIncomeExpenseNet
4346 USD
CY2015Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
1372 USD
CY2015Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
0 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-186287 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-1890622 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-720771 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-728526 USD
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2015Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
3657005 USD
CY2015 hdrau Operating Loss Carry Forwards Expiration Year
OperatingLossCarryForwardsExpirationYear
2034
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
1663937 USD
CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
64448 USD
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1668615 USD
CY2014Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
64448 USD
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1668615 USD
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
64448 USD
CY2015Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2014Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2015 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2015 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1198757 USD
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-48120 USD
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 USD
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 USD
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-405460 USD
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-16328 USD
CY2015 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-1604217 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-64448 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
-0.340 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
-0.340 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.115 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.115 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.455 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.455 pure
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0 pure
CY2015Q4 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
4678 USD
CY2015Q4 hdrau Minimum Fair Market Value Of Target Business As Percentage Of Assets Held In Trust
MinimumFairMarketValueOfTargetBusinessAsPercentageOfAssetsHeldInTrust
0.8 pure
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
403 USD
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
3144 USD
CY2014Q4 us-gaap Operating Expenses
OperatingExpenses
137982 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-403 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-3144 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-137982 USD
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.00
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.00
CY2014Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.06

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