2016 Q4 Form 10-Q Financial Statement

#000149315216014985 Filed on November 15, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $200.0K $241.3K $121.3K
YoY Change 233.33% 98.84% 188.7%
Cost Of Revenue $130.0K $71.24K $91.83K
YoY Change 1200.0% -22.43% 378.83%
Gross Profit $80.00K $157.9K $29.51K
YoY Change 100.0% 435.27% 29.12%
Gross Profit Margin 40.0% 65.46% 24.32%
Selling, General & Admin $350.0K $320.0K $390.0K
YoY Change -12.5% -17.95% 50.0%
% of Gross Profit 437.5% 202.62% 1321.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $20.00K $0.00
YoY Change
% of Gross Profit 12.5% 12.66% 0.0%
Operating Expenses $350.0K $323.1K $391.7K
YoY Change -14.63% -17.5% 48.86%
Operating Profit -$270.0K -$165.2K -$362.1K
YoY Change -27.03% -54.38% 50.74%
Interest Expense $150.0K $11.55K -$41.79K
YoY Change 150.0% -127.64% -325.66%
% of Operating Profit
Other Income/Expense, Net -$270.0K -$10.26K $95.46K
YoY Change 200.0% -110.75% -169.1%
Pretax Income -$410.0K -$180.0K -$270.0K
YoY Change 5.13% -33.33% -28.95%
Income Tax
% Of Pretax Income
Net Earnings -$410.0K -$175.5K -$266.7K
YoY Change 5.13% -34.21% -29.52%
Net Earnings / Revenue -205.0% -72.72% -219.79%
Basic Earnings Per Share
Diluted Earnings Per Share -$63.76K -$31.69K -$61.78K
COMMON SHARES
Basic Shares Outstanding 463.3M shares 416.1M shares 319.4M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0K $30.00K $10.00K
YoY Change 1170.97% 200.0% -50.0%
Cash & Equivalents $95.43K $29.95K $10.15K
Short-Term Investments
Other Short-Term Assets $20.61K $120.0K $50.00K
YoY Change -62.84% 139.99% 70.2%
Inventory $110.9K $55.37K $60.00K
Prepaid Expenses
Receivables $60.00K $130.0K $40.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $283.7K $332.7K $160.0K
YoY Change 75.18% 107.96% 114.58%
LONG-TERM ASSETS
Property, Plant & Equipment $135.3K $133.3K $10.00K
YoY Change 2.66% 1233.44% 414.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $30.00K $60.00K
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $185.6K $215.4K $150.0K
YoY Change 26.47% 43.63% 12.32%
TOTAL ASSETS
Total Short-Term Assets $283.7K $332.7K $160.0K
Total Long-Term Assets $185.6K $215.4K $150.0K
Total Assets $469.3K $548.2K $310.0K
YoY Change 52.02% 76.83% 48.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $305.8K
YoY Change
Accrued Expenses $197.0K $300.0K $360.0K
YoY Change -20.48% -16.67% 9.09%
Deferred Revenue
YoY Change
Short-Term Debt $1.387M $1.381M $400.0K
YoY Change 83.4% 245.21% 90.48%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.518M $1.394M $1.090M
YoY Change 17.7% 27.9% -18.92%
LONG-TERM LIABILITIES
Long-Term Debt $430.0K $480.0K $230.0K
YoY Change 115.0% 108.7% -25.81%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $430.0K $480.0K $230.0K
YoY Change 115.0% 108.7% -75.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.518M $1.394M $1.090M
Total Long-Term Liabilities $430.0K $480.0K $230.0K
Total Liabilities $1.947M $1.869M $1.310M
YoY Change 30.69% 42.7% -42.42%
SHAREHOLDERS EQUITY
Retained Earnings -$19.74M -$19.33M
YoY Change 6.59%
Common Stock $510.4K $453.4K
YoY Change 43.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.477M -$1.321M -$1.000M
YoY Change
Total Liabilities & Shareholders Equity $469.3K $548.2K $310.0K
YoY Change 52.02% 76.83% 48.96%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$410.0K -$175.5K -$266.7K
YoY Change 5.13% -34.21% -29.52%
Depreciation, Depletion And Amortization $10.00K $20.00K $0.00
YoY Change
Cash From Operating Activities $20.00K -$180.0K -$140.0K
YoY Change -112.5% 28.57% 75.0%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$10.00K $0.00
YoY Change -66.67%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$10.00K -$10.00K $0.00
YoY Change -66.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 50.00K 150.0K 80.00K
YoY Change -72.22% 87.5% 14.29%
NET CHANGE
Cash From Operating Activities 20.00K -180.0K -140.0K
Cash From Investing Activities -10.00K -10.00K 0.000
Cash From Financing Activities 50.00K 150.0K 80.00K
Net Change In Cash 60.00K -40.00K -60.00K
YoY Change -700.0% -33.33% 500.0%
FREE CASH FLOW
Cash From Operating Activities $20.00K -$180.0K -$140.0K
Capital Expenditures -$10.00K -$10.00K $0.00
Free Cash Flow $30.00K -$170.0K -$140.0K
YoY Change -123.08% 21.43% 75.0%

Facts In Submission

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CY2016Q1 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
2250000 shares
CY2016Q3 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
16773833 shares
CY2016Q1 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
250000 shares
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
537738 usd
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
13490 usd
CY2016Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
1380852 usd
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
756250 usd
CY2016Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
-279303 usd
CY2015Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
usd
CY2016Q3 us-gaap Convertible Debt
ConvertibleDebt
1101549 usd
CY2015Q4 us-gaap Convertible Debt
ConvertibleDebt
756250 usd
CY2016Q3 us-gaap Long Term Debt
LongTermDebt
475246 usd
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
200000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
603394 usd
CY2016Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
45000 usd
CY2016Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
3000000 shares
CY2016Q3 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
1500000 shares
CY2016Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
30000 usd
CY2016Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
12000 usd
GTXO Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Exercised Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageExercisedDateFairValue
GTXO Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Expired Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageExpiredDateFairValue
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
29900000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
11150000 shares
GTXO Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriod
shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
18750000 shares
GTXO Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Expired In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod
shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
452493 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
-452493 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.08
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P10M2D
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
usd
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
46901 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
-46901 usd
dei Trading Symbol
TradingSymbol
GTXO
CY2016Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
224626 usd
CY2015Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
usd
CY2016Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2016Q3 GTXO Working Capital Deficiency
WorkingCapitalDeficiency
1061331 usd
GTXO Converted Salaries
ConvertedSalaries
318671 usd
GTXO Interest Added To Debt
InterestAddedToDebt
27119 usd
GTXO Interest Added To Debt
InterestAddedToDebt
usd
GTXO Issuance Of Stock For Accrued Expensesrelated Parties
IssuanceOfStockForAccruedExpensesrelatedParties
87000 usd
GTXO Issuance Of Stock For Accrued Expensesrelated Parties
IssuanceOfStockForAccruedExpensesrelatedParties
229438 usd
CY2016Q3 us-gaap Available For Sale Securities Equity Securities Noncurrent
AvailableForSaleSecuritiesEquitySecuritiesNoncurrent
63325 usd
CY2015Q4 us-gaap Available For Sale Securities Equity Securities Noncurrent
AvailableForSaleSecuritiesEquitySecuritiesNoncurrent
usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Use of Estimates</u></b></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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. 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. Estimates are updated on an ongoing basis and are evaluated based on historical experience and current circumstances. 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>
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
68764 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Reclassifications</u></b></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">For comparability, certain prior period amounts have been reclassified, where appropriate, to conform to the financial statement presentation used in 2016. These reclassifications have no impact on net loss.</p>
GTXO Debt Discount On Convertible Notes Payable
DebtDiscountOnConvertibleNotesPayable
89500 usd
GTXO Debt Discount On Convertible Notes Payable
DebtDiscountOnConvertibleNotesPayable
usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
623675 usd

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