2015 Q2 Form 10-Q Financial Statement

#000106282215000032 Filed on August 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $376.0K $676.0K
YoY Change -44.38% 215.89%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.300M $5.000M
YoY Change 26.0% 6.38%
% of Gross Profit
Research & Development $20.77M $21.19M
YoY Change -1.97% -10.57%
% of Gross Profit
Depreciation & Amortization $200.0K $600.0K
YoY Change -66.67% -25.0%
% of Gross Profit
Operating Expenses $27.06M $26.79M
YoY Change 1.03% -7.11%
Operating Profit -$26.69M -$26.11M
YoY Change 2.21% -8.78%
Interest Expense $1.655M $455.0K
YoY Change 263.74% -8.27%
% of Operating Profit
Other Income/Expense, Net $269.0K $538.0K
YoY Change -50.0% -13550.0%
Pretax Income -$28.10M -$26.00M
YoY Change 8.08% -10.65%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$28.07M -$26.03M
YoY Change 7.86% -10.5%
Net Earnings / Revenue -7466.49% -3850.3%
Basic Earnings Per Share -$0.27
Diluted Earnings Per Share -$0.27 -$353.7K
COMMON SHARES
Basic Shares Outstanding 103.6M shares 514.9M shares
Diluted Shares Outstanding 103.6M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $282.1M $78.60M
YoY Change 258.91% -55.06%
Cash & Equivalents $9.744M $27.73M
Short-Term Investments $272.3M $50.90M
Other Short-Term Assets $7.151M $7.342M
YoY Change -2.6% 9.84%
Inventory
Prepaid Expenses
Receivables $316.0K $281.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $313.8M $86.67M
YoY Change 262.07% -52.66%
LONG-TERM ASSETS
Property, Plant & Equipment $684.0K $39.18M
YoY Change -98.25% -7.06%
Goodwill $44.54M $44.54M
YoY Change 0.0% 0.0%
Intangibles $53.36M $53.56M
YoY Change -0.37% 0.0%
Long-Term Investments
YoY Change
Other Assets $3.581M $120.0K
YoY Change 2884.17% 84.62%
Total Long-Term Assets $102.2M $137.4M
YoY Change -25.64% -2.08%
TOTAL ASSETS
Total Short-Term Assets $313.8M $86.67M
Total Long-Term Assets $102.2M $137.4M
Total Assets $416.0M $224.1M
YoY Change 85.65% -30.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.29M $8.350M
YoY Change 35.22% 32.94%
Accrued Expenses $10.81M $10.89M
YoY Change -0.73% -3.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $19.26M $1.783M
YoY Change 979.92% -92.14%
Total Short-Term Liabilities $43.57M $21.90M
YoY Change 98.99% -46.47%
LONG-TERM LIABILITIES
Long-Term Debt $87.50M $19.26M
YoY Change 354.43%
Other Long-Term Liabilities $23.04M $34.82M
YoY Change -33.84% -1.23%
Total Long-Term Liabilities $110.5M $54.08M
YoY Change 104.41% 53.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.57M $21.90M
Total Long-Term Liabilities $110.5M $54.08M
Total Liabilities $184.5M $107.4M
YoY Change 71.78% -0.84%
SHAREHOLDERS EQUITY
Retained Earnings -$1.160B -$1.061B
YoY Change 9.39% 11.09%
Common Stock $104.0K $516.0K
YoY Change -79.84% 0.39%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.747M $2.390M
YoY Change 14.94% 59.02%
Treasury Stock Shares 237.0K shares 1.281M shares
Shareholders Equity $231.5M $116.7M
YoY Change
Total Liabilities & Shareholders Equity $416.0M $224.1M
YoY Change 85.65% -30.71%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$28.07M -$26.03M
YoY Change 7.86% -10.5%
Depreciation, Depletion And Amortization $200.0K $600.0K
YoY Change -66.67% -25.0%
Cash From Operating Activities -$32.20M -$19.70M
YoY Change 63.45% -6.64%
INVESTING ACTIVITIES
Capital Expenditures -$500.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $800.0K $1.200M
YoY Change -33.33% -88.99%
Cash From Investing Activities $300.0K $1.200M
YoY Change -75.0% -88.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -400.0K -400.0K
YoY Change 0.0% 33.33%
NET CHANGE
Cash From Operating Activities -32.20M -19.70M
Cash From Investing Activities 300.0K 1.200M
Cash From Financing Activities -400.0K -400.0K
Net Change In Cash -32.30M -18.90M
YoY Change 70.9% 71.82%
FREE CASH FLOW
Cash From Operating Activities -$32.20M -$19.70M
Capital Expenditures -$500.0K $0.00
Free Cash Flow -$31.70M -$19.70M
YoY Change 60.91% -4.83%

Facts In Submission

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CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
26787000 USD
us-gaap Operating Expenses
OperatingExpenses
57536000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
27064000 USD
us-gaap Operating Expenses
OperatingExpenses
55383000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-26111000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-56583000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-26688000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-53215000 USD
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
4764000 USD
CY2015Q2 us-gaap Other Assets Current
OtherAssetsCurrent
7151000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3409000 USD
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3581000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-5000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
3000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
75000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
23535000 USD
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
23036000 USD
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
538000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
632000 USD
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
269000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
422000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
887000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
357000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
20651000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
70505000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
39000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
480000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
87500000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
162000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-27000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
61000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
60964000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1517000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
334000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1080000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
684000 USD
CY2014Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
23849000 USD
CY2015Q2 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
23849000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
839000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
912000 USD
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
21187000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
45140000 USD
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20769000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
41634000 USD
CY2014Q4 us-gaap Restricted Investments
RestrictedInvestments
430000 USD
CY2015Q2 us-gaap Restricted Investments
RestrictedInvestments
430000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1104252000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1160402000 USD
CY2015Q2 us-gaap Revenues
Revenues
376000 USD
us-gaap Revenues
Revenues
2168000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4090000 USD
CY2014Q2 us-gaap Revenues
Revenues
676000 USD
us-gaap Revenues
Revenues
953000 USD
CY2014Q4 us-gaap Short Term Investments
ShortTermInvestments
202073000 USD
CY2015Q2 us-gaap Short Term Investments
ShortTermInvestments
272739000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3741000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
162000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
284018000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
231474000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
170163000 USD
CY2014Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
116668000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
284018000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
231474000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
61000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
183000 shares
CY2015Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
237000 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2390000 USD
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
2747000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
887000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
357000 USD
CY2015Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
3100000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
3000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
161000 USD
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
73518000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
73470000 shares
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
103608000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
103562000 shares

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