2014 Q4 Form 10-Q Financial Statement

#000121465914007755 Filed on November 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $7.800M $1.575M $1.160M
YoY Change 572.41% 60.87% -18.31%
Cost Of Revenue $1.000M $388.1K $430.0K
YoY Change 132.56% 64.93% 230.77%
Gross Profit $6.790M $1.187M $730.0K
YoY Change 830.14% 59.59% -43.41%
Gross Profit Margin 87.05% 75.37% 62.93%
Selling, General & Admin $10.13M $1.640M $1.500M
YoY Change 575.33% 44.31% 72.41%
% of Gross Profit 149.19% 138.13% 205.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $770.0K $130.1K $100.0K
YoY Change 670.0% 95.85% 233.33%
% of Gross Profit 11.34% 10.95% 13.7%
Operating Expenses $10.90M $1.640M $1.600M
YoY Change 581.25% 44.31% 79.78%
Operating Profit -$4.110M -$582.8K -$870.0K
YoY Change 372.41% 26.85% -317.5%
Interest Expense $0.00 $377.00 $20.00K
YoY Change -100.0% -150.0%
% of Operating Profit
Other Income/Expense, Net -$941.4K
YoY Change 48856.06%
Pretax Income -$3.900M -$1.559M -$850.0K
YoY Change 358.82% 241.17% -336.11%
Income Tax -$1.930M -$617.7K -$300.0K
% Of Pretax Income
Net Earnings -$1.970M -$941.0K -$550.0K
YoY Change 258.18% 246.6% -252.78%
Net Earnings / Revenue -25.26% -59.73% -47.41%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.239M -$1.119M -$696.2K
COMMON SHARES
Basic Shares Outstanding 12.62M shares 6.310M shares 6.318M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.720M $11.06M $18.74M
YoY Change -64.14% -44.17% 1573.21%
Cash & Equivalents $1.519M $1.822M $18.74M
Short-Term Investments $5.200M $9.240M $0.00
Other Short-Term Assets $1.680M $1.980M $100.0K
YoY Change 1580.0% 1314.29% 66.67%
Inventory
Prepaid Expenses $99.09K
Receivables $3.449M $1.203M $1.218M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.84M $14.24M $20.05M
YoY Change -40.94% -30.71% 545.5%
LONG-TERM ASSETS
Property, Plant & Equipment $874.8K $844.5K $54.78K
YoY Change 1496.85% 1509.83% 57.13%
Goodwill $45.18M $45.35M $735.3K
YoY Change 6044.27% 6067.73% 0.0%
Intangibles $14.93M $14.43M $90.40K
YoY Change 16420.16%
Long-Term Investments
YoY Change
Other Assets $1.230M $10.00K
YoY Change -90.0%
Total Long-Term Assets $62.75M $63.13M $1.966M
YoY Change 3090.84% 3705.06% -2.64%
TOTAL ASSETS
Total Short-Term Assets $11.84M $14.24M $20.05M
Total Long-Term Assets $62.75M $63.13M $1.966M
Total Assets $74.59M $77.37M $22.02M
YoY Change 238.75% 248.44% 329.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.941M $5.658M $223.0K
YoY Change 2116.14% 2635.99% -15.87%
Accrued Expenses $549.7K $1.590M $188.5K
YoY Change 191.69% 755.64% 120.87%
Deferred Revenue
YoY Change
Short-Term Debt $1.830M $430.0K $0.00
YoY Change
Long-Term Debt Due $20.00K $20.00K
YoY Change
Total Short-Term Liabilities $17.84M $17.90M $1.521M
YoY Change 1073.05% 1464.13% 78.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.84M $17.90M $1.521M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $20.95M $22.28M $1.521M
YoY Change 1277.35% 1846.56% -34.95%
SHAREHOLDERS EQUITY
Retained Earnings -$5.094M -$3.128M -$1.436M
YoY Change 254.67% 252.87%
Common Stock $127.3K $126.3K $63.18K
YoY Change 101.45% 99.87% 81.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $37.12K $37.12K $11.26K
YoY Change 229.78%
Treasury Stock Shares 8.382K shares 8.382K shares 2.200K shares
Shareholders Equity $53.64M $55.09M $20.50M
YoY Change
Total Liabilities & Shareholders Equity $74.59M $77.37M $22.02M
YoY Change 238.75% 248.44% 329.54%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income -$1.970M -$941.0K -$550.0K
YoY Change 258.18% 246.6% -252.78%
Depreciation, Depletion And Amortization $770.0K $130.1K $100.0K
YoY Change 670.0% 95.85% 233.33%
Cash From Operating Activities -$5.090M -$2.580M -$930.0K
YoY Change 447.31% 616.67% -255.0%
INVESTING ACTIVITIES
Capital Expenditures $360.0K -$3.580M -$120.0K
YoY Change -400.0% 1604.76% -52.0%
Acquisitions
YoY Change
Other Investing Activities $3.990M $2.600M $10.00K
YoY Change 39800.0% 983.33%
Cash From Investing Activities $4.360M -$980.0K -$110.0K
YoY Change -4063.64% -3366.67% -56.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 430.0K -210.0K -50.00K
YoY Change -960.0% -96.35%
NET CHANGE
Cash From Operating Activities -5.090M -2.580M -930.0K
Cash From Investing Activities 4.360M -980.0K -110.0K
Cash From Financing Activities 430.0K -210.0K -50.00K
Net Change In Cash -300.0K -3.770M -1.090M
YoY Change -72.48% 1042.42% 6.86%
FREE CASH FLOW
Cash From Operating Activities -$5.090M -$2.580M -$930.0K
Capital Expenditures $360.0K -$3.580M -$120.0K
Free Cash Flow -$5.450M $1.000M -$810.0K
YoY Change 572.84% -766.67% -195.29%

Facts In Submission

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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div align="justify" style=" text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style=" display: inline; font-family : Times New Roman; font-size: 10pt;"><font style=" font-style: italic; display: inline; font-weight: bold;">Use of Estimates -</font>&#160;The preparation of unaudited condensed consolidated 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 unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.</font></div> <div style=" text-indent: 0pt; display: block;"><br/> </div> <div align="left" style=" text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style=" display: inline; font-family : Times New Roman; font-size: 10pt;">Making estimates requires management to exercise significant judgment.&#160;&#160;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 unaudited interim condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to <font>one</font> or more future confirming events.&#160;&#160;Accordingly, the actual results could differ significantly from estimates.</font></div> </div>
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dei Entity Registrant Name
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dei Document Fiscal Year Focus
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