2018 Q3 Form 10-Q Financial Statement

#000149315218012333 Filed on August 20, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $195.5K $147.2K $137.8K
YoY Change 12.01% 6.87% -20.62%
Cost Of Revenue $30.42K $31.18K $32.89K
YoY Change -48.21% -5.2% -62.06%
Gross Profit $149.6K $105.2K $78.71K
YoY Change 39.09% 33.63% 1.63%
Gross Profit Margin 76.51% 71.43% 57.13%
Selling, General & Admin $94.35K $73.84K $100.0K
YoY Change 82.52% -26.19% -62.95%
% of Gross Profit 63.07% 70.2% 127.1%
Research & Development $2.795K $7.184K
YoY Change
% of Gross Profit 1.87% 6.83%
Depreciation & Amortization $15.85K $20.00K $20.00K
YoY Change -20.75% 0.0% 100.0%
% of Gross Profit 10.6% 19.01% 25.41%
Operating Expenses $376.8K $353.3K $335.9K
YoY Change 23.81% 5.19% 24.16%
Operating Profit -$227.2K -$248.1K -$257.2K
YoY Change 15.46% -3.51% 33.19%
Interest Expense $38.17K $39.31K $35.88K
YoY Change 62.37% 9.56% 35.94%
% of Operating Profit
Other Income/Expense, Net -$26.60K -$433.5K $313.6K
YoY Change -87.18% -238.25% 118.97%
Pretax Income -$253.8K -$680.0K $60.00K
YoY Change -36.55% -1233.33% -117.65%
Income Tax
% Of Pretax Income
Net Earnings -$253.8K -$681.6K $56.38K
YoY Change -37.2% -1308.97% -116.77%
Net Earnings / Revenue -129.82% -462.91% 40.92%
Basic Earnings Per Share
Diluted Earnings Per Share -$18.57K -$62.67K $7.547K
COMMON SHARES
Basic Shares Outstanding 13.08M shares 773.5M shares 597.4M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.31K $70.00K $10.00K
YoY Change 600.0% -92.61%
Cash & Equivalents $15.31K $68.24K $8.731K
Short-Term Investments $0.00
Other Short-Term Assets $14.70K $42.60K $50.37K
YoY Change -83.33% -15.42% 75.68%
Inventory $49.21K $44.47K $92.77K
Prepaid Expenses
Receivables $182.1K $110.0K $70.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $261.3K $263.8K $219.4K
YoY Change -5.54% 20.2% -29.25%
LONG-TERM ASSETS
Property, Plant & Equipment $91.40K $94.24K $120.9K
YoY Change -16.85% -22.06% -17.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $10.00K
YoY Change -100.0%
Other Assets
YoY Change
Total Long-Term Assets $110.3K $114.3K $144.7K
YoY Change -16.51% -21.03% -10.31%
TOTAL ASSETS
Total Short-Term Assets $261.3K $263.8K $219.4K
Total Long-Term Assets $110.3K $114.3K $144.7K
Total Assets $371.6K $378.0K $364.1K
YoY Change -9.09% 3.82% -22.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $372.0K $289.0K $220.0K
YoY Change 16.26% 31.35%
Accrued Expenses $499.3K $437.2K $252.6K
YoY Change 93.46% 73.07% -35.22%
Deferred Revenue
YoY Change
Short-Term Debt $200.0K $200.0K $1.431M
YoY Change -86.31% -86.03% 120.23%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.336M $3.238M $2.001M
YoY Change 42.0% 61.82% 2.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.336M $3.238M $2.001M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.336M $3.238M $2.001M
YoY Change 42.0% 61.82% 2.05%
SHAREHOLDERS EQUITY
Retained Earnings -$22.32M -$22.11M -$20.24M
YoY Change 8.1% 9.23% 5.66%
Common Stock $1.510K $902.7K $610.7K
YoY Change -99.78% 47.82% 54.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.965M -$2.860M -$1.637M
YoY Change
Total Liabilities & Shareholders Equity $371.6K $378.0K $364.1K
YoY Change -9.09% 3.82% -22.77%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$253.8K -$681.6K $56.38K
YoY Change -37.2% -1308.97% -116.77%
Depreciation, Depletion And Amortization $15.85K $20.00K $20.00K
YoY Change -20.75% 0.0% 100.0%
Cash From Operating Activities -$91.64K -$100.0K -$210.0K
YoY Change -23.63% -52.38% 133.33%
INVESTING ACTIVITIES
Capital Expenditures $10.00K -$10.00K -$10.00K
YoY Change -200.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $10.00K -$10.00K -$10.00K
YoY Change -200.0% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 57.00K 160.0K 220.0K
YoY Change -48.18% -27.27% 83.33%
NET CHANGE
Cash From Operating Activities -91.64K -100.0K -210.0K
Cash From Investing Activities 10.00K -10.00K -10.00K
Cash From Financing Activities 57.00K 160.0K 220.0K
Net Change In Cash -24.64K 50.00K 0.000
YoY Change 23.2% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$91.64K -$100.0K -$210.0K
Capital Expenditures $10.00K -$10.00K -$10.00K
Free Cash Flow -$101.6K -$90.00K -$200.0K
YoY Change -7.6% -55.0% 122.22%

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CashAndCashEquivalentsAtCarryingValue
1454 usd
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68235 usd
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8731 usd
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
66781 usd
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-86700 usd
GTXO Debt Discount On Convertible Notes And Warrants
DebtDiscountOnConvertibleNotesAndWarrants
181250 usd
GTXO Debt Discount On Convertible Notes And Warrants
DebtDiscountOnConvertibleNotesAndWarrants
usd
GTXO Unrealized Loss On Available For Sale Investment
UnrealizedLossOnAvailableForSaleInvestment
usd
GTXO Unrealized Loss On Available For Sale Investment
UnrealizedLossOnAvailableForSaleInvestment
25925 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
CY2017Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
0 usd
CY2018Q2 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
94886 usd
dei Entity Registrant Name
EntityRegistrantName
GTX CORP
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
usd
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-59249 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Use of Estimates</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt 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 Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Reclassifications</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt 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 2017. These reclassifications have no impact on net loss.</p>
CY2018Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
500 usd
CY2018Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
13079695 shares
GTXO Total Cost Of Goods Sold
TotalCostOfGoodsSold
115479 usd
GTXO Total Cost Of Goods Sold
TotalCostOfGoodsSold
128481 usd
CY2018Q2 GTXO Total Cost Of Goods Sold
TotalCostOfGoodsSold
42063 usd
CY2017Q2 GTXO Total Cost Of Goods Sold
TotalCostOfGoodsSold
59073 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12500 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14700 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12500 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14700 usd
GTXO Issuance Of Stock For Accrued Expenses
IssuanceOfStockForAccruedExpenses
25750 usd
GTXO Issuance Of Stock For Accrued Expenses
IssuanceOfStockForAccruedExpenses
usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
17770 usd
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
149500 usd
GTXO Stock Issued During Period Value Issued For Services One
StockIssuedDuringPeriodValueIssuedForServicesOne
46363 usd
CY2018Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-75 reverse stock split
CY2016Q2 GTXO Number Of Patents
NumberOfPatents
3 integer
us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
107208 usd
us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
CY2017Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
usd
CY2018Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
884546 usd
CY2017Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
670047 usd
CY2018Q2 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
usd
CY2018Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
303192 usd
CY2017Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
107742 usd
CY2018Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
11477 usd
CY2017Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
142117 usd
CY2018Q2 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
106887 usd
GTXO Non Cash Financing Cost On Related Party Notes
NonCashFinancingCostOnRelatedPartyNotes
-247147 usd
GTXO Non Cash Financing Cost On Related Party Notes
NonCashFinancingCostOnRelatedPartyNotes
usd
CY2018Q2 GTXO Non Cash Financing Cost On Related Party Notes
NonCashFinancingCostOnRelatedPartyNotes
-247147 usd
CY2017Q2 GTXO Non Cash Financing Cost On Related Party Notes
NonCashFinancingCostOnRelatedPartyNotes
usd
GTXO Gain On Extinguishment Of Derivative Liability
GainOnExtinguishmentOfDerivativeLiability
98644 usd
GTXO Gain On Extinguishment Of Derivative Liability
GainOnExtinguishmentOfDerivativeLiability
usd
GTXO Fair Value Of Beneficial Conversion Feature On Convertible Notes
FairValueOfBeneficialConversionFeatureOnConvertibleNotes
181250 usd
GTXO Debt Discount Recorded As Derivative Liabilities
DebtDiscountRecordedAsDerivativeLiabilities
33456 usd
GTXO Debt Discount Recorded As Derivative Liabilities
DebtDiscountRecordedAsDerivativeLiabilities
221438 usd
GTXO Fair Value Of Preferred Shares Issued To Management
FairValueOfPreferredSharesIssuedToManagement
46363 usd
GTXO Fair Value Of Preferred Shares Issued To Management
FairValueOfPreferredSharesIssuedToManagement
usd
us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
1844 usd
us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
25925 usd
CY2018Q2 us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
647 usd
CY2017Q2 us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
7826 usd
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
22312 usd
CY2018Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14056 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9625459 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9599235 shares
CY2018Q2 GTXO Increase In Net Loss
IncreaseInNetLoss
1844 usd

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