2017 Q2 Form 10-Q Financial Statement

#000156459018021733 Filed on August 14, 2018

View on sec.gov

Income Statement

Concept 2017 Q2
Revenue $977.6K
YoY Change -31.89%
Cost Of Revenue $590.0K
YoY Change 7.27%
Gross Profit $380.0K
YoY Change -56.82%
Gross Profit Margin 38.87%
Selling, General & Admin $207.2K
YoY Change -84.77%
% of Gross Profit 54.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.56K
YoY Change 58.16%
% of Gross Profit 5.41%
Operating Expenses $1.611M
YoY Change -21.39%
Operating Profit -$633.9K
YoY Change 3.11%
Interest Expense $126.0K
YoY Change -18.97%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.265M
YoY Change 64.22%
Income Tax -$470.4K
% Of Pretax Income
Net Earnings -$794.5K
YoY Change 60.32%
Net Earnings / Revenue -81.27%
Basic Earnings Per Share -$0.24
Diluted Earnings Per Share -$0.24
COMMON SHARES
Basic Shares Outstanding 3.300M
Diluted Shares Outstanding 3.300M

Balance Sheet

Concept 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $820.0K
YoY Change -85.93%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.510M
YoY Change -56.95%
LONG-TERM ASSETS
Property, Plant & Equipment $92.92K
YoY Change -28.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.100M
YoY Change 8.05%
Total Long-Term Assets $6.459M
YoY Change -1.92%
TOTAL ASSETS
Total Short-Term Assets $2.510M
Total Long-Term Assets $6.459M
Total Assets $8.969M
YoY Change -27.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $4.930M
YoY Change -22.24%
Other Long-Term Liabilities $1.050M
YoY Change 61.54%
Total Long-Term Liabilities $5.980M
YoY Change -14.45%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $5.980M
Total Liabilities $5.976M
YoY Change -14.53%
SHAREHOLDERS EQUITY
Retained Earnings -$3.588M
YoY Change 276.88%
Common Stock $6.581M
YoY Change 3.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.993M
YoY Change
Total Liabilities & Shareholders Equity $8.969M
YoY Change -27.76%

Cashflow Statement

Concept 2017 Q2
OPERATING ACTIVITIES
Net Income -$794.5K
YoY Change 60.32%
Depreciation, Depletion And Amortization $20.56K
YoY Change 58.16%
Cash From Operating Activities -$620.0K
YoY Change -23.46%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $250.0K
YoY Change -725.0%
Cash From Investing Activities $250.0K
YoY Change -725.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -200.0K
YoY Change -66.67%
NET CHANGE
Cash From Operating Activities -620.0K
Cash From Investing Activities 250.0K
Cash From Financing Activities -200.0K
Net Change In Cash -570.0K
YoY Change -60.69%
FREE CASH FLOW
Cash From Operating Activities -$620.0K
Capital Expenditures $0.00
Free Cash Flow -$620.0K
YoY Change

Facts In Submission

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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Use of Estimates</font></p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the evaluation of any probable losses on amounts funded under the Company&#8217;s <font style="font-style:italic;">New Neighbor Guaranty</font> program as disclosed below, the evaluation of probable losses on balances due from a related party, the realization of deferred tax assets, the evaluation of contingent losses related to litigation and fair value estimates of real estate assets owned.</p></div>
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