2014 Q1 Form 10-K Financial Statement

#000119312514097773 Filed on March 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013
Revenue $24.00K $45.00K $172.3K
YoY Change -57.14% -78.67% -87.4%
Cost Of Revenue $87.28K $86.00K $316.6K
YoY Change 30.57% 56.36% 20.3%
Gross Profit $252.2K -$41.00K $886.6K
YoY Change 16.03% -126.28% -19.74%
Gross Profit Margin 1050.85% -91.11% 514.6%
Selling, General & Admin $2.248M $3.650M $8.834M
YoY Change 19.06% 72.99% 20.04%
% of Gross Profit 891.18% 996.37%
Research & Development $4.630M $4.820M $19.37M
YoY Change 1.44% 2.99% 31.92%
% of Gross Profit 1835.69% 2184.52%
Depreciation & Amortization $335.9K $330.0K $1.059M
YoY Change 40.2% 43.48% 6.76%
% of Gross Profit 133.17% 119.41%
Operating Expenses $6.866M $9.341M $28.26M
YoY Change 11.37% 34.42% 26.19%
Operating Profit -$6.842M -$9.382M -$28.09M
YoY Change 9.35% 38.11% 28.23%
Interest Expense $380.5K $2.450M $1.167M
YoY Change 3649.39% -39.21% 2224.59%
% of Operating Profit
Other Income/Expense, Net -$720.4K $2.508M $2.106M
YoY Change 352.24% -37.83% -134.74%
Pretax Income -$7.590M -$6.510M $26.08M
YoY Change 18.22% 135.87% -8.03%
Income Tax
% Of Pretax Income
Net Earnings -$7.620M -$6.962M -$26.44M
YoY Change 18.76% 152.43% -7.2%
Net Earnings / Revenue -31751.07% -15471.11% -15345.11%
Basic Earnings Per Share
Diluted Earnings Per Share -$254.7M -$232.0M -$881.3M
COMMON SHARES
Basic Shares Outstanding 55.42M shares 54.97M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 Q4 2013
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.46M $30.59M $30.59M
YoY Change 55.19% 36.75% 36.75%
Cash & Equivalents $26.46M $30.59M $29.23M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $83.70K $83.54K $660.0K
YoY Change -93.3% -89.82% -51.47%
Inventory
Prepaid Expenses $413.4K $530.0K
Receivables $100.4K $108.8K $110.0K
Other Receivables $110.0K $490.0K $490.0K
Total Short-Term Assets $27.21M $31.84M $31.84M
YoY Change 46.23% 32.44% 32.45%
LONG-TERM ASSETS
Property, Plant & Equipment $5.275M $5.305M $5.300M
YoY Change 247.01% 285.7% 284.06%
Goodwill $2.147M $2.139M
YoY Change 7.86%
Intangibles $1.766M $1.836M
YoY Change 0.7%
Long-Term Investments
YoY Change
Other Assets $413.7K $413.7K $440.0K
YoY Change -60.97% -56.33% -53.68%
Total Long-Term Assets $9.617M $9.717M $9.720M
YoY Change 56.37% 58.54% 58.56%
TOTAL ASSETS
Total Short-Term Assets $27.21M $31.84M $31.84M
Total Long-Term Assets $9.617M $9.717M $9.720M
Total Assets $36.83M $41.56M $41.56M
YoY Change 48.75% 37.74% 37.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.190M $1.152M $1.150M
YoY Change 53.17% 15.26% 15.0%
Accrued Expenses $2.231M $4.068M $4.070M
YoY Change 8.82% 50.25% 6.82%
Deferred Revenue
YoY Change
Short-Term Debt $3.750M $3.660M $3.660M
YoY Change
Long-Term Debt Due $71.25K $125.0K $150.0K
YoY Change -67.61% -39.39% -28.57%
Total Short-Term Liabilities $8.370M $9.132M $9.130M
YoY Change 123.79% 79.16% 79.02%
LONG-TERM LIABILITIES
Long-Term Debt $12.12M $9.270M $9.270M
YoY Change 15050.0% 7316.0% 6521.43%
Other Long-Term Liabilities $8.680M $8.200M $8.200M
YoY Change -19.11% -25.11% -25.11%
Total Long-Term Liabilities $20.80M $17.47M $17.47M
YoY Change 92.41% 13876.0% 57.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.370M $9.132M $9.130M
Total Long-Term Liabilities $20.80M $17.47M $17.47M
Total Liabilities $29.17M $26.60M $26.60M
YoY Change 100.36% 64.36% 64.3%
SHAREHOLDERS EQUITY
Retained Earnings -$395.2M -$387.5M
YoY Change 7.32%
Common Stock $402.5M $402.2M
YoY Change 7.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.658M $14.95M $14.95M
YoY Change
Total Liabilities & Shareholders Equity $36.83M $41.56M $41.56M
YoY Change 48.75% 37.74% 37.75%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013
OPERATING ACTIVITIES
Net Income -$7.620M -$6.962M -$26.44M
YoY Change 18.76% 152.43% -7.2%
Depreciation, Depletion And Amortization $335.9K $330.0K $1.059M
YoY Change 40.2% 43.48% 6.76%
Cash From Operating Activities -$6.508M -$6.890M -$23.32M
YoY Change -2.17% 40.04% 17.38%
INVESTING ACTIVITIES
Capital Expenditures $230.7K -$120.0K $4.681M
YoY Change -27.89% 140.0% 6304.77%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$120.0K $13.72M
YoY Change -100.0% -98.48% -229.19%
Cash From Investing Activities -$230.7K -$240.0K $9.036M
YoY Change -106.23% -96.97% -184.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.49M
YoY Change 18.96%
Debt Paid & Issued, Net $998.1K
YoY Change
Cash From Financing Activities 2.616M 16.77M 36.40M
YoY Change 52.45% 198.93% 41.44%
NET CHANGE
Cash From Operating Activities -6.508M -6.890M -23.32M
Cash From Investing Activities -230.7K -240.0K 9.036M
Cash From Financing Activities 2.616M 16.77M 36.40M
Net Change In Cash -4.123M 9.640M 22.12M
YoY Change 234.3% -233.33% -558.46%
FREE CASH FLOW
Cash From Operating Activities -$6.508M -$6.890M -$23.32M
Capital Expenditures $230.7K -$120.0K $4.681M
Free Cash Flow -$6.738M -$6.770M -$28.00M
YoY Change -3.35% 39.01% 40.42%

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CY2013 us-gaap Use Of Estimates
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<div> <p style="margin-top:18px;margin-bottom:0px; margin-left:2%"> <font style="font-family:Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make judgments, assumptions and estimates that affect the amounts reported in our consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">Significant estimates include the following:</font></p> <p style="font-size:6px;margin-top:0px;margin-bottom:0px"> &#xA0;</p> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td width="2%" valign="top" align="left"><font style="font-family:Times New Roman" size="2">&#x2022;</font></td> <td width="1%" valign="top"><font size="1">&#xA0;</font></td> <td align="left" valign="top"> <p align="left"><font style="font-family:Times New Roman" size="2">the fair value of share-based awards recognized as compensation (see Note 10, &#x201C;Stock-Based Compensation&#x201D;);</font></p> </td> </tr> </table> <p style="font-size:6px;margin-top:0px;margin-bottom:0px"> &#xA0;</p> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td width="2%" valign="top" align="left"><font style="font-family:Times New Roman" size="2">&#x2022;</font></td> <td width="1%" valign="top"><font size="1">&#xA0;</font></td> <td align="left" valign="top"> <p align="left"><font style="font-family:Times New Roman" size="2">valuation allowance against net deferred tax assets (see Note 18, &#x201C;Income Taxes&#x201D;);</font></p> </td> </tr> </table> <p style="font-size:6px;margin-top:0px;margin-bottom:0px"> &#xA0;</p> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td width="2%" valign="top" align="left"><font style="font-family:Times New Roman" size="2">&#x2022;</font></td> <td width="1%" valign="top"><font size="1">&#xA0;</font></td> <td align="left" valign="top"> <p align="left"><font style="font-family:Times New Roman" size="2">the fair value of warrants recorded as a liability (see Note 13, &#x201C;Warrant Liability&#x201D;);&#xA0;and</font></p> </td> </tr> </table> <p style="font-size:6px;margin-top:0px;margin-bottom:0px"> &#xA0;</p> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td width="2%" valign="top" align="left"><font style="font-family:Times New Roman" size="2">&#x2022;</font></td> <td width="1%" valign="top"><font size="1">&#xA0;</font></td> <td align="left" valign="top"> <p align="left"><font style="font-family:Times New Roman" size="2">the fair value of intangible assets acquired (see Note&#xA0;5, &#x201C;Goodwill and Other Intangible Assets&#x201D;).</font></p> </td> </tr> </table> </div>
CY2013 us-gaap Revenues
Revenues
1203270
CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-801611
CY2013 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
154111
CY2013 us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
916000
CY2013 us-gaap Gross Profit
GrossProfit
886642
CY2013 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
43600
CY2013 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-26380235
CY2013 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
298734
CY2013 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
687798
CY2013 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
997968
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
359000
CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
68497
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
26080000
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3452
CY2013 us-gaap Investment Income Interest
InvestmentIncomeInterest
11318
CY2013 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-493584
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
-28605445
CY2013 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
200000
CY2013 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
38854
CY2013 us-gaap Interest Paid
InterestPaid
427040
CY2013 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
342366
CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
10270000
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
26439000
CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
57568
CY2013 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3606
CY2013 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2166286
CY2013 us-gaap Net Income Loss
NetIncomeLoss
-26439159
CY2013 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
132071
CY2013 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-342366
CY2013 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
12396
CY2013 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
57568
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
58924
CY2013 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2322489
CY2013 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
53726
CY2013 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
58924
CY2013 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
64000
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4680796
CY2013 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
9900000
CY2013 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1356
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2143917
CY2013 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
-2051699
CY2013 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-3253253
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
36402277
CY2013 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
2612899
CY2013 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
CY2013 us-gaap Proceeds From Loans
ProceedsFromLoans
13820264
CY2013 us-gaap Cost Of Goods Sold
CostOfGoodsSold
316628
CY2013 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
13558358
CY2013 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-24270
CY2013 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
530097
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2214
CY2013 us-gaap Income Tax Examination Interest Expense
IncomeTaxExaminationInterestExpense
0
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
2608670
CY2013 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
38053
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
22116182
CY2013 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
186439
CY2013 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2559173
CY2013 us-gaap Debt Issuance Costs
DebtIssuanceCosts
117000
CY2013 us-gaap Interest Expense
InterestExpense
1166782
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
23491597
CY2013 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
38500
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
9035906
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20533713
CY2013 us-gaap Income Tax Examination Penalties Expense
IncomeTaxExaminationPenaltiesExpense
0
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3452
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1058725
CY2013 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0
CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
5000000
CY2013 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
269000
CY2013 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
826465
CY2013 us-gaap Depreciation
Depreciation
789000
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2608670
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1165000
CY2013 us-gaap Operating Expenses
OperatingExpenses
29492087
CY2013 stem Cash And Cash Equivalents Maturity Period
CashAndCashEquivalentsMaturityPeriod
P90D
CY2013 stem Restricted Stock Units Vested Description After Specified Period
RestrictedStockUnitsVestedDescriptionAfterSpecifiedPeriod
25 pure
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8896537
CY2013 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-2033
CY2013 stem Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
435967
CY2013 stem Loan Fees
LoanFees
1000000
CY2013 stem Number Of Restricted Unit Would Vest Over Vesting Period
NumberOfRestrictedUnitWouldVestOverVestingPeriod
55000 shares
CY2013 stem Term Of Operating Lease
TermOfOperatingLease
P15Y
CY2013 stem Issuance Of Common Stock And Warrants Value
IssuanceOfCommonStockAndWarrantsValue
-24879573
CY2013 stem Stock Issued During Period New Issues Selling Price Per Share
StockIssuedDuringPeriodNewIssuesSellingPricePerShare
1.91
CY2013 stem Number Of Restricted Unit Vest Over Next Fiscal Year
NumberOfRestrictedUnitVestOverNextFiscalYear
11765 shares
CY2013 stem Additional Expense Recorded To Revise Estimated Reserve At Period End
AdditionalExpenseRecordedToReviseEstimatedReserveAtPeriodEnd
62000
CY2013 stem Increase Decrease In Accrued Wind Down Expenses
IncreaseDecreaseInAccruedWindDownExpenses
1102762
CY2013 stem Number Of Share Based Equity Incentive Plan
NumberOfShareBasedEquityIncentivePlan
3 Incentive_Plan
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
152464
CY2013 stem Finite Lived Intangible Assets Foreign Currency Translation
FiniteLivedIntangibleAssetsForeignCurrencyTranslation
-345386
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2655884
CY2012 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
411885
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
73083
CY2013 stem Long Term Debt Bond Interest Rate
LongTermDebtBondInterestRate
0.095 pure
CY2013 stem Debt Instrument Amortized Discount Percentage
DebtInstrumentAmortizedDiscountPercentage
0.090 pure
CY2013 stem Amortization Of Debt Discount And Debt Issuance Costs
AmortizationOfDebtDiscountAndDebtIssuanceCosts
288951
CY2013 stem Percentage Of Gross Proceeds Paid To Agent
PercentageOfGrossProceedsPaidToAgent
0.03 pure
CY2013 stem Wind Down Expenses
WindDownExpenses
61837
CY2013 stem Continuing Value Of Patent
ContinuingValueOfPatent
0
CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1339
CY2013 stem Maturity Period Of Long Term Debt
MaturityPeriodOfLongTermDebt
2014-08
CY2013 stem Revenue From Licensing Agreements And Grants
RevenueFromLicensingAgreementsAndGrants
205302
CY2013 stem Proceeds From Sale And Maturity Of Marketable Debt Securities
ProceedsFromSaleAndMaturityOfMarketableDebtSecurities
14430000
CY2013 stem Restricted Stock Unit Vest Description
RestrictedStockUnitVestDescription
55,000 of these restricted stock units vest and convert into shares of our common stock after one year from the date of grant. 2,355,200 of these restricted stock units vest and convert into shares of our common stock over a four year period from the date of grant one-fourth of the award will vest on each grant date anniversary following the grant.
CY2013 stem Expiry Period Of Lease Term
ExpiryPeriodOfLeaseTerm
2013-06-30
CY2013 stem Debt Instrument Period During Which Loan Is Subject To Interest Only Payments
DebtInstrumentPeriodDuringWhichLoanIsSubjectToInterestOnlyPayments
P6M
CY2013 stem Debt Instrument Period During Which Loan Is Subject To Principal And Interest Payments
DebtInstrumentPeriodDuringWhichLoanIsSubjectToPrincipalAndInterestPayments
P30M
CY2013 stem Agreement Termination Month And Year
AgreementTerminationMonthAndYear
2013-10
CY2013 stem Lease Obligations Termination Date
LeaseObligationsTerminationDate
2013-06-30
CY2012 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.007 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.014 pure
CY2012 us-gaap Stock Issued During Period Shares Issued For Cash
StockIssuedDuringPeriodSharesIssuedForCash
9647471 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.784 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
-0.34 pure
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
20.86
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y1M6D
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00 pure
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y4M24D
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.388 pure
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28824417 shares
CY2012 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.005 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.009 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.00
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-19869344
CY2012 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.99
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.00
CY2012 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
-0.030 pure
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3629 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
424510 shares
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11917471 shares
CY2012 us-gaap Revenues
Revenues
1367955
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-22232
CY2012 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
175235
CY2012 us-gaap Gross Profit
GrossProfit
1104767
CY2012 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
21721
CY2012 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-28338689
CY2012 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-39825
CY2012 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
16380748
CY2012 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
856397
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
133000
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
33693
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
28356000
CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3629
CY2012 us-gaap Investment Income Interest
InvestmentIncomeInterest
15594
CY2012 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-89790
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
-22545676
CY2012 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-20883
CY2012 us-gaap Interest Paid
InterestPaid
50193
CY2012 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
59090
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
864000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
28489000
CY2012 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
151125
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
50451
CY2012 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5945477
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-28491153
CY2012 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
97017
CY2012 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-59090
CY2012 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
20167
CY2012 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
151125
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-409333
CY2012 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
27500
CY2012 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
900992
CY2012 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
5944571
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
25737110
CY2012 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
2932104
CY2012 us-gaap Cost Of Goods Sold
CostOfGoodsSold
263188
CY2012 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
13389
CY2012 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
6256438
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
4319
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
2878134
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4824065
CY2012 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
216439
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2520219
CY2012 us-gaap Interest Expense
InterestExpense
50193
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19747550
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10691831
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15846829
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3629
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
991721
CY2012 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
28000
CY2012 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
264000
CY2012 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
191250
CY2012 us-gaap Depreciation
Depreciation
728000
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2878134
CY2012 us-gaap Operating Expenses
OperatingExpenses
23650443
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7447235
CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-15921
CY2012 stem Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
85572
CY2012 stem Warrants Issued Per Unit
WarrantsIssuedPerUnit
1
CY2012 stem Issuance Of Common Stock And Warrants Value
IssuanceOfCommonStockAndWarrantsValue
-28725507
CY2012 stem Stock Issued During Period New Issues Selling Price Per Share
StockIssuedDuringPeriodNewIssuesSellingPricePerShare
2.12
CY2012 stem Increase Decrease In Accrued Wind Down Expenses
IncreaseDecreaseInAccruedWindDownExpenses
1032024
CY2012 stem Effective Income Tax Rate Reconciliation Expiration Of Tax Attributes
EffectiveIncomeTaxRateReconciliationExpirationOfTaxAttributes
0.005 pure
CY2012 stem Percentage Of Gross Proceeds Paid To Agent
PercentageOfGrossProceedsPaidToAgent
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CY2012 stem Effective Income Tax Rate Reconciliation State Deferred Tax Rate Differential
EffectiveIncomeTaxRateReconciliationStateDeferredTaxRateDifferential
0.011 pure
CY2012 stem Wind Down Expenses
WindDownExpenses
356379
CY2012 stem Revenue From Licensing Agreements And Grants
RevenueFromLicensingAgreementsAndGrants
511558
CY2012 stem Common Stock Per Unit
CommonStockPerUnit
1
CY2012 stem Proceeds From Sale And Maturity Of Marketable Debt Securities
ProceedsFromSaleAndMaturityOfMarketableDebtSecurities
5762000
CY2012 stem Effective Income Tax Rate Reconciliation Warrants
EffectiveIncomeTaxRateReconciliationWarrants
0.041 pure
CY2012 stem Stock Issued For Option Agreement
StockIssuedForOptionAgreement
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CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2013Q1 us-gaap Revenues
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CY2013Q1 us-gaap Other Nonoperating Income Expense
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CY2013Q1 us-gaap Cost Of Goods Sold
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CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
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CY2013Q2 us-gaap Revenues
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CY2012Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2012Q1 us-gaap Revenues
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CY2012Q1 us-gaap Other Nonoperating Income Expense
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CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2012Q1 us-gaap Cost Of Goods Sold
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CY2012Q1 us-gaap Operating Expenses
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CY2012Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2012Q2 us-gaap Net Income Loss
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CY2012Q2 us-gaap Cost Of Goods Sold
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CY2012Q2 us-gaap Operating Expenses
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CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
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CY2012Q3 us-gaap Revenues
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CY2012Q3 us-gaap Other Nonoperating Income Expense
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CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
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CY2013Q3 us-gaap Revenues
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CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2013Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
86000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
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CY2012Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2012Q4 us-gaap Revenues
Revenues
211000
CY2012Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4034000
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
-2758000
CY2012Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
55000
CY2012Q4 us-gaap Operating Expenses
OperatingExpenses
6949000
CY2013Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.13
CY2013Q4 us-gaap Revenues
Revenues
313000
CY2013Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2508000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-6962000
CY2013Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
86000
CY2013Q4 us-gaap Operating Expenses
OperatingExpenses
9697000

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