2016 Q4 Form 10-Q Financial Statement

#000114420416134293 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.000M $1.100M $90.00K
YoY Change 1150.0% 1122.22%
% of Gross Profit
Research & Development $6.830M $500.0K $500.0K
YoY Change 798.68% 0.0%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $7.830M $1.670M $658.0K
YoY Change 832.14% 153.8%
Operating Profit -$7.831M -$1.670M -$658.0K
YoY Change 828.94% 153.8%
Interest Expense -$920.0K -$200.0K -$60.00K
YoY Change 1214.29% 233.33%
% of Operating Profit
Other Income/Expense, Net -$917.0K -$200.0K -$58.00K
YoY Change 1248.53% 244.83%
Pretax Income -$8.750M -$1.870M -$720.0K
YoY Change 861.54% 159.72%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$8.748M -$1.870M -$716.0K
YoY Change 860.26% 161.17%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$346.9K -$74.15K -$28.55K
COMMON SHARES
Basic Shares Outstanding 13.08M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.50M $11.10M
YoY Change
Cash & Equivalents $27.50M $11.12M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $0.00
Receivables
Other Receivables
Total Short-Term Assets $27.50M $11.12M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $27.50M $11.12M
Total Long-Term Assets $0.00 $0.00
Total Assets $27.50M $11.12M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $700.0K $1.000M
YoY Change
Accrued Expenses $500.0K $1.200M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $300.0K $2.000M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.223M $4.869M
YoY Change -21.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $2.900M
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $2.900M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.223M $4.869M
Total Long-Term Liabilities $0.00 $2.900M
Total Liabilities $3.223M $7.800M
YoY Change -21.94%
SHAREHOLDERS EQUITY
Retained Earnings -$17.12M -$8.372M
YoY Change 283.34%
Common Stock $37.00M $11.69M
YoY Change 25242.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $24.28M $3.322M
YoY Change
Total Liabilities & Shareholders Equity $27.50M $11.12M
YoY Change

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$8.748M -$1.870M -$716.0K
YoY Change 860.26% 161.17%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$2.260M -$570.0K -$1.040M
YoY Change 326.42% -45.19%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$2.000M
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 -$2.000M
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 18.65M 11.68M 3.040M
YoY Change 3418.87% 284.21%
NET CHANGE
Cash From Operating Activities -2.260M -570.0K -1.040M
Cash From Investing Activities 0.000 0.000 -2.000M
Cash From Financing Activities 18.65M 11.68M 3.040M
Net Change In Cash 16.39M 11.11M 0.000
YoY Change -7039451398144001000.0%
FREE CASH FLOW
Cash From Operating Activities -$2.260M -$570.0K -$1.040M
Capital Expenditures
Free Cash Flow
YoY Change

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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: 27.5pt; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-SIZE: 10pt">Use of Estimates</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 27.5pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The&#160;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 expenses during the reporting period. Actual results could differ from those estimates.</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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(i) pay an equity fee in shares of common stock, payable within five business days of the closing of any equity or debt financing for Mustang or any of its respective subsidiaries that occurs after the effective date of the Mustang Founders Agreement and ending on the date when Fortress no longer has majority voting control in the Company&#8217;s voting equity, equal to 2.5% of the gross amount of any such equity or debt financing; and (ii) pay a cash fee equal to 4.5% of the Company&#8217;s annual net sales, payable on an annual basis, within ninety days of the end of each calendar year. In the event of a Change in Control, the Company will pay a one-time change in control fee equal to five times the product of (A) net sales for the twelve months immediately preceding the change in control and (B) 4.5%.
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Files In Submission

Name View Source Status
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0001144204-16-134293.txt Edgar Link pending
0001144204-16-134293-xbrl.zip Edgar Link pending
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ck0001680048-20160930.xsd Edgar Link pending
ck0001680048-20160930_cal.xml Edgar Link unprocessable
ck0001680048-20160930_def.xml Edgar Link unprocessable
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