$MLRT
Metalert, Inc.

2015 Q2 Form 10-Q Financial Statement

#000107878215000810 Filed on May 15, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $127.9K $144.2K $20.81K
YoY Change 275.1% 592.86% -54.2%
Cost Of Revenue $93.85K $102.3K $9.900K
YoY Change 487.03% 933.83% -63.18%
Gross Profit $34.03K $41.86K $10.91K
YoY Change 87.94% 283.57% -41.19%
Gross Profit Margin 26.61% 29.03% 52.44%
Selling, General & Admin $330.0K $320.0K $290.0K
YoY Change 26.92% 10.34% 26.09%
% of Gross Profit 969.88% 764.4% 2657.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $759.00 $4.068K
YoY Change -100.0% -81.34% -79.1%
% of Gross Profit 0.0% 1.81% 37.27%
Operating Expenses $325.4K $317.6K $292.8K
YoY Change 24.76% 8.5% 25.51%
Operating Profit -$291.4K -$275.8K -$281.8K
YoY Change 20.05% -2.15% 31.28%
Interest Expense $20.05K -$17.49K -$9.239K
YoY Change -431.37% 89.28% -255.28%
% of Operating Profit
Other Income/Expense, Net $20.05K -$36.06K -$1.495M
YoY Change -97.47% -97.59% 3579.42%
Pretax Income -$310.0K -$310.0K -$1.780M
YoY Change -156.36% -82.58% 584.62%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$311.4K -$311.8K -$1.777M
YoY Change -156.65% -82.45% 596.02%
Net Earnings / Revenue -243.55% -216.22% -8537.91%
Basic Earnings Per Share
Diluted Earnings Per Share -$74.16K -$82.45K -$922.3K
COMMON SHARES
Basic Shares Outstanding 311.0M shares 144.9M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.00K $30.00K $100.0K
YoY Change 200.0% -70.0% 900.0%
Cash & Equivalents $59.25K $27.83K $101.5K
Short-Term Investments
Other Short-Term Assets $31.08K $14.38K $31.59K
YoY Change 33.74% -54.49% -75.83%
Inventory $124.9K $120.5K $1.310K
Prepaid Expenses
Receivables $30.00K $20.00K $0.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $244.3K $181.1K $137.1K
YoY Change 292.73% 32.12% -10.25%
LONG-TERM ASSETS
Property, Plant & Equipment $6.202K $4.446K $5.099K
YoY Change 123.98% -12.81% -93.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $133.3K $126.0K $116.4K
YoY Change -0.78% 8.29% 5.74%
TOTAL ASSETS
Total Short-Term Assets $244.3K $181.1K $137.1K
Total Long-Term Assets $133.3K $126.0K $116.4K
Total Assets $377.6K $307.1K $253.5K
YoY Change 92.09% 21.18% -3.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $330.0K $330.0K $330.0K
YoY Change 3.13% 0.0% -21.43%
Deferred Revenue
YoY Change
Short-Term Debt $630.0K $410.0K $140.0K
YoY Change 320.0% 192.86% 366.67%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.423M $1.165M $1.221M
YoY Change 29.81% -4.61% 53.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $270.0K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $1.490M
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $1.760M
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.423M $1.165M $1.221M
Total Long-Term Liabilities $0.00 $0.00 $1.760M
Total Liabilities $1.423M $1.165M $2.975M
YoY Change -32.57% -60.85% 275.15%
SHAREHOLDERS EQUITY
Retained Earnings -$17.86M -$17.55M -$17.21M
YoY Change 7.2% 1.96% 21.34%
Common Stock $319.4K $311.0K $148.5K
YoY Change 104.98% 109.4% 60.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.045M -$857.5K -$2.721M
YoY Change
Total Liabilities & Shareholders Equity $377.6K $307.1K $253.5K
YoY Change 92.09% 21.18% -3.55%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$311.4K -$311.8K -$1.777M
YoY Change -156.65% -82.45% 596.02%
Depreciation, Depletion And Amortization $0.00 $759.00 $4.068K
YoY Change -100.0% -81.34% -79.1%
Cash From Operating Activities -$160.0K -$207.3K -$134.3K
YoY Change 6.67% 54.34% 145.87%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$2.085K -$1.445K
YoY Change 44.29%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$2.085K -$1.445K
YoY Change 44.29%
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 $225.0K $172.5K
YoY Change 185.71% 30.43% 475.0%
NET CHANGE
Cash From Operating Activities -160.0K -$207.3K -$134.3K
Cash From Investing Activities 0.000 -$2.085K -$1.445K
Cash From Financing Activities 200.0K $225.0K $172.5K
Net Change In Cash 40.00K $15.66K $36.77K
YoY Change -150.0% -57.4% -249.37%
FREE CASH FLOW
Cash From Operating Activities -$160.0K -$207.3K -$134.3K
Capital Expenditures $0.00 -$2.085K -$1.445K
Free Cash Flow -$160.0K -$205.2K -$132.8K
YoY Change 6.67% 54.44% 143.23%

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<!--egx--><p style='text-align:justify;margin:0in 0in 0pt'><b><u>Use of Estimates</u></b></p> <p style='text-align:justify;margin:0in 0in 0pt'>&nbsp;</p> <p style='text-align:justify;margin:0in 0in 0pt'>The preparation of the accompanying unaudited consolidated financial statements requires the use of estimates that affect the reported amounts of assets, liabilities, revenues, expenses and contingencies.&nbsp; These estimates include, but are not limited to, estimates related to revenue recognition, allowance for doubtful accounts, inventory valuation, tangible and intangible long-term asset valuation, warranty and other obligations and commitments.&nbsp; Estimates are updated on an ongoing basis and are evaluated based on historical experience and current circumstances.&nbsp; Changes in facts and circumstances in the future may give rise to changes in these estimates which may cause actual results to differ from current estimates.</p>
CY2015Q1 us-gaap Prior Period Reclassification Adjustment Description
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<!--egx--><p style='text-align:justify;margin:0in 0in 0pt'><b><u><font lang="EN-CA">Reclassifications</font></u></b></p> <p style='text-align:justify;margin:0in 0in 0pt'>&nbsp;</p> <p style='text-align:justify;margin:0in 0in 0pt'><font lang="EN-CA">For comparability, certain prior period amounts have been reclassified, where appropriate, to conform to the financial statement presentation used in 2015.&nbsp; These reclassifications have no impact on net loss.</font></p>
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225232 usd
CY2014Q4 fil Company Received Cash Proceeds
CompanyReceivedCashProceeds
167500 usd
CY2014Q4 fil Convertible Notes Carry An Original Issue Discount1
ConvertibleNotesCarryAnOriginalIssueDiscount1
0.1700 pure
CY2014Q4 fil Convertible Into Common Stock Of The Company Per Share
ConvertibleIntoCommonStockOfTheCompanyPerShare
0.015
CY2014Q4 fil Stock Was Valued At The Fair Market Value
StockWasValuedAtTheFairMarketValue
16750 usd
CY2014Q4 fil Total Additional Shares Of The Company
TotalAdditionalSharesOfTheCompany
1675000 shares
CY2015Q1 fil Issued Convertible Notes With A Total Principal Balance Of
IssuedConvertibleNotesWithATotalPrincipalBalanceOf
270000 usd
CY2015Q1 fil Issued Share Of Common Stock Q120151
IssuedShareOfCommonStockQ120151
2250000 shares
CY2015Q1 fil Stock Exchange Forcash Proceeds
StockExchangeForcashProceeds
225000 usd
CY2015Q1 fil The Q12015 Convertible Notes Carry An Original Issue Discount Of
TheQ12015ConvertibleNotesCarryAnOriginalIssueDiscountOf
0.1700 pure
CY2015Q1 fil Convertible Into Common Stock Of The Company Per Share Q120151
ConvertibleIntoCommonStockOfTheCompanyPerShareQ120151
0.015
CY2015Q1 fil The Q12015 Stock Was Valued At The Fair Market Value
TheQ12015StockWasValuedAtTheFairMarketValue
22500 usd
CY2015Q1 fil Q12015 Stock A Total Of Additional Shares Of The Company Will Be Issued To The Investors
Q12015StockATotalOfAdditionalSharesOfTheCompanyWillBeIssuedToTheInvestors
2250000 shares
CY2015Q1 fil Company Issued Shares Of Common Stock Valued At96000 To An Investment Consulting Firm For Services
CompanyIssuedSharesOfCommonStockValuedAt96000ToAnInvestmentConsultingFirmForServices
4000000 shares
CY2015Q1 fil Issuedsharesofcommonstocktoinvestors1
Issuedsharesofcommonstocktoinvestors1
875000 shares
CY2015Q1 fil Issued Shares Of Common Stock To Four Consultants For Services Valued At59500
IssuedSharesOfCommonStockToFourConsultantsForServicesValuedAt59500
5950000 shares
CY2015Q1 fil Issued Shares Of Common Stock To Three Consultants For Services525001
IssuedSharesOfCommonStockToThreeConsultantsForServices525001
5250000 shares
CY2015Q1 fil Issued Shares Of Common Stock To Each Of Five Board Members
IssuedSharesOfCommonStockToEachOfFiveBoardMembers
250000 shares
CY2015Q1 fil A Total Common Stock Shares Valued At12500 Issued Board Members For Participation At Annual Board Meeting
ATotalCommonStockSharesValuedAt12500IssuedBoardMembersForParticipationAtAnnualBoardMeeting
1250000 shares
CY2015Q1 fil Atlantic Exercised Its Right To Convert The Atlantic Note Into12 Of The Company S Outstanding Shares Of Common Stock
AtlanticExercisedItsRightToConvertTheAtlanticNoteInto12OfTheCompanySOutstandingSharesOfCommonStock
200000 shares
CY2015Q1 fil In Conversion Of Atlantic Note Issued Shares
InConversionOfAtlanticNoteIssuedShares
22523226 shares
CY2015Q1 fil In Conversion Of Atlantic Note Issued Shares Valued At1
InConversionOfAtlanticNoteIssuedSharesValuedAt1
225232 usd
CY2015Q1 fil Atlantic As Conversion Of The200000 Convertible Note Plus Accrued Interest
AtlanticAsConversionOfThe200000ConvertibleNotePlusAccruedInterest
13000 usd
CY2015Q1 fil Issued Shares Of Common Stock Valued At80000 To Patent Attorney For Payment
IssuedSharesOfCommonStockValuedAt80000ToPatentAttorneyForPayment
5000000 shares
CY2014Q4 fil Accrued Expenditures Totaling
AccruedExpendituresTotaling
60000 usd
CY2015Q1 fil Issued Shares Of Common Stock Valued At15000 And Recorded In Additional Paid In Capital As Finance Costs
IssuedSharesOfCommonStockValuedAt15000AndRecordedInAdditionalPaidInCapitalAsFinanceCosts
1500000 shares
CY2015Q1 fil The Plan Provides For The Issuance Of Maximum Shares
ThePlanProvidesForTheIssuanceOfMaximumShares
7000000 shares
CY2015Q1 fil Estimated Pre Vesting Forfeitures And Expired Options Approximately
EstimatedPreVestingForfeituresAndExpiredOptionsApproximately
2235000 shares
CY2015Q1 fil Each Unit Principal Amount
EachUnitPrincipalAmount
25000 usd
CY2015Q1 fil The Promissory Notes Bear Interest At A Rate
ThePromissoryNotesBearInterestAtARate
0.1400 pure
CY2015Q1 fil Company At A Pricr Per Share Value
CompanyAtAPricrPerShareValue
0.015
CY2015Q2 fil Investors Puchased Unit Valued At
InvestorsPuchasedUnitValuedAt
25000 usd
CY2015Q1 dei Trading Symbol
TradingSymbol
GTXO
CY2015Q1 dei Document Type
DocumentType
10-Q
CY2015Q1 dei Document Period End Date
DocumentPeriodEndDate
2015-03-31
CY2015Q1 dei Amendment Flag
AmendmentFlag
false
CY2015Q1 dei Entity Registrant Name
EntityRegistrantName
GTX CORP
CY2015Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001375793
CY2015Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
310968781 shares
CY2015Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2015Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2015Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1

Files In Submission

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0001078782-15-000810-index-headers.html Edgar Link pending
0001078782-15-000810-index.html Edgar Link pending
0001078782-15-000810.txt Edgar Link pending
0001078782-15-000810-xbrl.zip Edgar Link pending
f10q033115_10q.htm Edgar Link pending
f10q033115_ex31z1.htm Edgar Link pending
f10q033115_ex31z2.htm Edgar Link pending
f10q033115_ex32z1.htm Edgar Link pending
f10q033115_ex32z2.htm Edgar Link pending
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
gtxo-20150331.xsd Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
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gtxo-20150331_cal.xml Edgar Link unprocessable
gtxo-20150331_lab.xml Edgar Link unprocessable
gtxo-20150331_pre.xml Edgar Link unprocessable
gtxo-20150331_def.xml Edgar Link unprocessable
gtxo-20150331.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable