2016 Q1 Form 10-K Financial Statement

#000119312516504472 Filed on March 15, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q2
Revenue $23.16K $29.00K $30.13K
YoY Change 10.32% -96.72% 31.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $60.00K -$6.970M $2.060M
YoY Change -97.77% -275.57% -5.32%
% of Gross Profit
Research & Development $5.209M -$20.43M $7.239M
YoY Change -17.22% -407.68% 23.97%
% of Gross Profit
Depreciation & Amortization $277.0K -$820.0K $255.0K
YoY Change 2.74% -356.25% -22.73%
% of Gross Profit
Operating Expenses $9.837M $8.528M $9.303M
YoY Change 9.53% -19.64% 16.53%
Operating Profit -$9.814M -$9.273M
YoY Change 9.53% 16.5%
Interest Expense $27.90K -$640.0K $146.3K
YoY Change -84.95% -130.92% -57.38%
% of Operating Profit
Other Income/Expense, Net $252.5K -$130.0K $810.9K
YoY Change -164.68% 1200.0% -120.21%
Pretax Income -$280.0K $26.53M -$8.460M
YoY Change -97.01% -362.41% -29.21%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$9.561M $26.53M -$8.462M
YoY Change 2.25% -358.83% -30.16%
Net Earnings / Revenue -41277.0% 91482.76% -28083.08%
Basic Earnings Per Share
Diluted Earnings Per Share -$152.2K $7.872M -$141.0M
COMMON SHARES
Basic Shares Outstanding 112.5M shares 108.8M shares 105.1M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.670M $440.0K $29.93M
YoY Change -38.73% -98.24% 67.68%
Cash & Equivalents $8.674M $12.11M $29.93M
Short-Term Investments
Other Short-Term Assets $2.980M $25.17K
YoY Change 4573.56% -76.56%
Inventory
Prepaid Expenses $555.4K $625.3K $874.3K
Receivables $2.743K
Other Receivables $190.0K
Total Short-Term Assets $11.68M $15.21M $31.03M
YoY Change -24.03% -42.61% 64.14%
LONG-TERM ASSETS
Property, Plant & Equipment $4.950M $5.218M $5.266M
YoY Change -4.06% 0.6% 2.43%
Goodwill
YoY Change
Intangibles $42.32K $45.82K $315.2K
YoY Change -87.41% -87.16% -81.75%
Long-Term Investments
YoY Change
Other Assets $742.7K $742.7K $373.7K
YoY Change 98.74% 98.74% 0.0%
Total Long-Term Assets $5.735M $6.006M $5.955M
YoY Change -2.29% 1.48% -37.04%
TOTAL ASSETS
Total Short-Term Assets $11.68M $15.21M $31.03M
Total Long-Term Assets $5.735M $6.006M $5.955M
Total Assets $17.42M $21.22M $36.98M
YoY Change -18.03% -34.56% 30.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.925M $2.512M $1.377M
YoY Change 14.78% 38.11% -19.3%
Accrued Expenses $4.743M $5.732M $4.623M
YoY Change 43.67% 17.7% 76.91%
Deferred Revenue
YoY Change
Short-Term Debt $360.0K $0.00 $3.470M
YoY Change -91.22% -100.0% -9.4%
Long-Term Debt Due $20.00K $20.00K
YoY Change 0.0% 11.63%
Total Short-Term Liabilities $7.201M $9.830M $9.619M
YoY Change -21.82% -14.5% 15.95%
LONG-TERM LIABILITIES
Long-Term Debt $8.930M $420.0K $8.940M
YoY Change -3.77% -95.94% -19.68%
Other Long-Term Liabilities $369.4K $369.4K $3.170M
YoY Change -92.76% -70.45% -72.39%
Total Long-Term Liabilities $369.4K $369.4K $12.11M
YoY Change -97.43% -70.45% -46.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.201M $9.830M $9.619M
Total Long-Term Liabilities $369.4K $369.4K $12.11M
Total Liabilities $24.27M $21.55M $21.72M
YoY Change 2.86% -18.84% -29.71%
SHAREHOLDERS EQUITY
Retained Earnings -$466.2M -$3.372M -$438.1M
YoY Change 8.53% -99.2% 7.57%
Common Stock $459.3M $456.3M $453.3M
YoY Change 7.51% 7.1% 12.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$6.853M -$64.00K $15.26M
YoY Change
Total Liabilities & Shareholders Equity $17.42M $529.0K $36.98M
YoY Change -18.03% -98.37% 30.4%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q2
OPERATING ACTIVITIES
Net Income -$9.561M $26.53M -$8.462M
YoY Change 2.25% -358.83% -30.16%
Depreciation, Depletion And Amortization $277.0K -$820.0K $255.0K
YoY Change 2.74% -356.25% -22.73%
Cash From Operating Activities -$290.0K $22.98M -$7.570M
YoY Change -96.74% -459.62% -2.57%
INVESTING ACTIVITIES
Capital Expenditures $5.934K $1.010M -$340.0K
YoY Change -97.32% -436.67% 161.54%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 $840.0K -$340.0K
YoY Change -100.0% 394.12% 161.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.102M $25.00M
YoY Change
Debt Paid & Issued, Net $1.064M
YoY Change -36.72%
Cash From Financing Activities 0.000 -20.39M 23.68M
YoY Change -100.0% 1959.6% -3388.89%
NET CHANGE
Cash From Operating Activities -290.0K 22.98M -7.570M
Cash From Investing Activities 0.000 840.0K -340.0K
Cash From Financing Activities 0.000 -20.39M 23.68M
Net Change In Cash -290.0K 3.430M 15.77M
YoY Change -97.32% -147.57% -282.95%
FREE CASH FLOW
Cash From Operating Activities -$290.0K $22.98M -$7.570M
Capital Expenditures $5.934K $1.010M -$340.0K
Free Cash Flow -$295.9K $21.97M -$7.230M
YoY Change -96.76% -460.76% -5.37%

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<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 28px; WIDOWS: 1; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Reclassifications</i></b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Certain reclassifications have been made to the prior year financial statements in order to conform to the current year&#x2019;s presentation. These reclassifications relate to the wind-down of our business operations at our Subsidiary SCS UK (See Note 19, &#x201C;Discontinued Operations&#x201D;).</p> </div>
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