2019 Q1 Form 10-Q Financial Statement

#000143774919009839 Filed on May 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018 Q1
Revenue $1.916M $3.766M $1.806M
YoY Change 6.11% 69.63% -51.05%
Cost Of Revenue $618.7K $1.864M $562.7K
YoY Change 9.96% 88.33% -59.87%
Gross Profit $1.297M $1.901M $1.243M
YoY Change 4.37% 55.84% -45.65%
Gross Profit Margin 67.71% 50.49% 68.84%
Selling, General & Admin $2.109M $1.897M $3.019M
YoY Change -30.14% -35.27% 11.49%
% of Gross Profit 162.58% 99.76% 242.88%
Research & Development $6.346K $29.98K $225.8K
YoY Change -97.19% -0.07% 115.03%
% of Gross Profit 0.49% 1.58% 18.17%
Depreciation & Amortization $26.05K $26.17K $265.0K
YoY Change -90.17% -92.3% 667.16%
% of Gross Profit 2.01% 1.38% 21.32%
Operating Expenses $2.115M $1.927M $3.245M
YoY Change -34.8% -35.13% 15.36%
Operating Profit -$818.2K -$25.41K -$2.002M
YoY Change -59.13% -98.55% 280.59%
Interest Expense $41.28K $1.310K $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$2.264K -$1.990K -$1.700K
YoY Change 33.18% 40.61%
Pretax Income -$779.2K -$26.09K -$2.001M
YoY Change -61.06% -98.5% 280.09%
Income Tax $4.465K $6.830K $11.46K
% Of Pretax Income
Net Earnings -$782.8K $179.9K -$1.874M
YoY Change -58.23% -110.05% 271.18%
Net Earnings / Revenue -40.86% 4.78% -103.79%
Basic Earnings Per Share -$0.02 -$0.06
Diluted Earnings Per Share -$0.02 $5.005K -$0.06
COMMON SHARES
Basic Shares Outstanding 40.53M 34.77M
Diluted Shares Outstanding 40.53M 34.77M

Balance Sheet

Concept 2019 Q1 2018 Q4 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.740M $743.4K $2.090M
YoY Change 31.09% -71.84% -28.91%
Cash & Equivalents $2.740M $1.996M $2.094M
Short-Term Investments
Other Short-Term Assets $620.5K $464.5K $1.600M
YoY Change -61.22% -70.03% 131.88%
Inventory $1.861M $1.921M $3.265M
Prepaid Expenses
Receivables $1.513M $1.978M $833.8K
Other Receivables $0.00 $0.00 $500.0K
Total Short-Term Assets $7.314M $5.856M $11.01M
YoY Change -33.55% -51.28% -2.91%
LONG-TERM ASSETS
Property, Plant & Equipment $77.87K $82.56K $115.5K
YoY Change -32.58% -41.76% -18.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.36K $26.88K $26.88K
YoY Change -35.43% 0.0% 0.0%
Total Long-Term Assets $647.2K $544.7K -$4.606M
YoY Change -114.05% -84.9% -207.34%
TOTAL ASSETS
Total Short-Term Assets $7.314M $5.856M $11.01M
Total Long-Term Assets $647.2K $544.7K -$4.606M
Total Assets $7.962M $6.401M $6.401M
YoY Change 24.38% -59.04% -59.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.199M $1.059M $1.557M
YoY Change -23.0% 8.34% 75.1%
Accrued Expenses $1.548M $794.9K $1.929M
YoY Change -19.72% -63.52% 49.01%
Deferred Revenue $50.00K $100.0K
YoY Change -94.2%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.219M $4.873M $7.001M
YoY Change -25.45% -27.58% 93.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.92K $0.00 $1.400M
YoY Change -98.86% -100.0%
Total Long-Term Liabilities $15.92K $0.00 $1.400M
YoY Change -98.86% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.219M $4.873M $7.001M
Total Long-Term Liabilities $15.92K $0.00 $1.400M
Total Liabilities $5.235M $4.873M $8.401M
YoY Change -37.68% -40.05% 134.0%
SHAREHOLDERS EQUITY
Retained Earnings -$86.78M -$86.00M -$80.44M
YoY Change 7.88% 9.46% 8.87%
Common Stock $90.44M $88.45M $87.15M
YoY Change 3.78% 1.99% 4.54%
Preferred Stock
YoY Change
Treasury Stock (at cost) $911.5K $911.5K $911.5K
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares $33.33K $33.33K $33.33K
Shareholders Equity $2.748M $1.540M $5.796M
YoY Change
Total Liabilities & Shareholders Equity $7.962M $6.401M $14.35M
YoY Change -44.53% -59.04% 18.13%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018 Q1
OPERATING ACTIVITIES
Net Income -$782.8K $179.9K -$1.874M
YoY Change -58.23% -110.05% 271.18%
Depreciation, Depletion And Amortization $26.05K $26.17K $265.0K
YoY Change -90.17% -92.3% 667.16%
Cash From Operating Activities -$220.2K $329.5K -$541.4K
YoY Change -59.33% -0.15% -38.06%
INVESTING ACTIVITIES
Capital Expenditures $8.104K -$890.00 $1.368K
YoY Change 492.4%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$8.104K -$890.00 -$1.368K
YoY Change 492.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.975M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.225M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -220.2K 329.5K -541.4K
Cash From Investing Activities -8.104K -890.0 -1.368K
Cash From Financing Activities 2.225M 0.000
Net Change In Cash 1.996M 328.6K -542.7K
YoY Change -467.83% -0.42% -17.85%
FREE CASH FLOW
Cash From Operating Activities -$220.2K $329.5K -$541.4K
Capital Expenditures $8.104K -$890.00 $1.368K
Free Cash Flow -$228.3K $330.4K -$542.7K
YoY Change -57.94% 0.12% -37.9%

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IncreaseDecreaseInInventories
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CY2019Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
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CY2018Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
CY2019Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
181410
CY2018Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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InterestIncomeExpenseNet
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CY2018Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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InventoryNet
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CY2018Q4 us-gaap Inventory Net
InventoryNet
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CY2019Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
756000
CY2018Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
763000
CY2019Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
108952
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
123918
CY2019Q1 us-gaap Lease Cost
LeaseCost
39555
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
118664
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4658
CY2019Q1 us-gaap Liabilities
Liabilities
5235129
CY2018Q4 us-gaap Liabilities
Liabilities
4872760
CY2019Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7961631
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2019Q1 us-gaap Liabilities Current
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5219205
CY2018Q4 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2019Q1 us-gaap Minority Interest
MinorityInterest
-21845
CY2018Q4 us-gaap Minority Interest
MinorityInterest
-11402
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8104
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1368
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-220171
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-541350
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-782752
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-1873978
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-10443
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-101407
CY2019Q1 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
60
CY2019Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2019Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2019Q1 us-gaap Open Tax Year
OpenTaxYear
2015 2016 2017
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
2115396
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
3244597
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-818181
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2001668
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
39555
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
129000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
129982
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
114058
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-793195
CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
15924
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
39555
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
129000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
129982
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.092
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P328D
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
238939
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four And Five Years
OperatingLeasesFutureMinimumPaymentsDueInFourAndFiveYears
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two And Three Years
OperatingLeasesFutureMinimumPaymentsDueInTwoAndThreeYears
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
16419
CY2019Q1 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
0
CY2018Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
0
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
17355
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
26878
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2264
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1700
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8104
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1368
CY2019Q1 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
7000000
CY2018Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
7000000
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
7000
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
7000
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
7000
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
7000
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
7
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
7
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
595951
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
414541
CY2019Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.</div>&nbsp; Reclassifications</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">Certain reclassifications have been made to the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>&nbsp;financial statements to conform to the condensed&nbsp; consolidated <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div>&nbsp;financial statement presentation. These reclassifications had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> effect on net loss or cash flows as previously reported.</div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1974546
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
CY2019Q1 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
250000
CY2014Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
10000000
CY2019Q1 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
250000
CY2018Q1 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
CY2018Q1 us-gaap Profit Loss
ProfitLoss
-1975385
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
77869
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
82557
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6346
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
225817
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-86782681
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-85999929
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1915909
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1805605
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2109050
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3018780
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
56988
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
86809
CY2019Q1 us-gaap Share Price
SharePrice
0.33
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7500
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
2748347
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1539610
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1528208
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2726502
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7500628
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5951552
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40531762
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
33333
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
33333
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
911516
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
911516
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.</div>&nbsp; Use of Estimates</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to the allowance for doubtful accounts, inventory valuation, and cash flow assumptions regarding evaluations for impairment of long-lived assets and going concern considerations, and valuation allowances on deferred tax assets. Actual results could differ from those estimates<div style="display: inline; font-weight: bold;">.</div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40531762
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34766014
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34766014

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