2020 Form 10-K Financial Statement
#000149315221006719 Filed on March 24, 2021
Income Statement
| Concept | 2020 | 2019 |
|---|---|---|
| Revenue | $19.05M | $11.85M |
| YoY Change | 60.76% | -19.72% |
| Cost Of Revenue | $6.596M | $4.889M |
| YoY Change | 34.92% | -7.93% |
| Gross Profit | $12.45M | $6.960M |
| YoY Change | 78.88% | -26.35% |
| Gross Profit Margin | 65.35% | 58.73% |
| Selling, General & Admin | $7.738M | $6.377M |
| YoY Change | 21.33% | 1.39% |
| % of Gross Profit | 62.15% | 91.63% |
| Research & Development | $4.649M | $4.784M |
| YoY Change | -2.82% | 22.67% |
| % of Gross Profit | 37.34% | 68.74% |
| Depreciation & Amortization | $720.0K | $860.0K |
| YoY Change | -16.28% | 86.96% |
| % of Gross Profit | 5.78% | 12.36% |
| Operating Expenses | $12.39M | $11.16M |
| YoY Change | 10.98% | 6.5% |
| Operating Profit | $63.07K | -$4.201M |
| YoY Change | -101.5% | 307.9% |
| Interest Expense | $717.5K | |
| YoY Change | ||
| % of Operating Profit | 1137.64% | |
| Other Income/Expense, Net | $110.0K | -$10.00K |
| YoY Change | -1200.0% | -133.33% |
| Pretax Income | -$680.0K | -$5.760M |
| YoY Change | -88.19% | 400.87% |
| Income Tax | $0.00 | |
| % Of Pretax Income | ||
| Net Earnings | -$1.760M | -$3.560M |
| YoY Change | -50.56% | 76.24% |
| Net Earnings / Revenue | -9.24% | -30.04% |
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$107.6K | -$217.7K |
| COMMON SHARES | ||
| Basic Shares Outstanding | ||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2020 | 2019 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $3.990M | $1.960M |
| YoY Change | 103.57% | -42.52% |
| Cash & Equivalents | ||
| Short-Term Investments | ||
| Other Short-Term Assets | $510.0K | $80.00K |
| YoY Change | 537.5% | 0.0% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $5.980M | $5.090M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $10.47M | $7.130M |
| YoY Change | 46.84% | -18.05% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $160.0K | $130.0K |
| YoY Change | 23.08% | 85.71% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $1.050M | $60.00K |
| YoY Change | 1650.0% | 20.0% |
| Total Long-Term Assets | $6.920M | $5.650M |
| YoY Change | 22.48% | -18.94% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $10.47M | $7.130M |
| Total Long-Term Assets | $6.920M | $5.650M |
| Total Assets | $17.39M | $12.78M |
| YoY Change | 36.07% | -18.44% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $710.0K | $270.0K |
| YoY Change | 162.96% | -67.47% |
| Accrued Expenses | $3.120M | $850.0K |
| YoY Change | 267.06% | -14.14% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $10.85M | $8.050M |
| YoY Change | 34.78% | 79.69% |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $14.91M | $9.170M |
| YoY Change | 62.6% | 45.56% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $860.0K | |
| YoY Change | ||
| Total Long-Term Liabilities | $860.0K | $0.00 |
| YoY Change | ||
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $14.91M | $9.170M |
| Total Long-Term Liabilities | $860.0K | $0.00 |
| Total Liabilities | $18.42M | $15.84M |
| YoY Change | 16.29% | 4.42% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | -$1.030M | -$3.060M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $17.39M | $12.78M |
| YoY Change | 36.07% | -18.44% |
Cashflow Statement
| Concept | 2020 | 2019 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$1.760M | -$3.560M |
| YoY Change | -50.56% | 76.24% |
| Depreciation, Depletion And Amortization | $720.0K | $860.0K |
| YoY Change | -16.28% | 86.96% |
| Cash From Operating Activities | $4.050M | -$4.420M |
| YoY Change | -191.63% | 391.11% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$240.0K | -$110.0K |
| YoY Change | 118.18% | 450.0% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$240.0K | -$480.0K |
| YoY Change | -50.0% | -139.02% |
| Cash From Investing Activities | -$480.0K | -$590.0K |
| YoY Change | -18.64% | -148.76% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $0.00 | |
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -1.540M | 3.560M |
| YoY Change | -143.26% | -3.52% |
| NET CHANGE | ||
| Cash From Operating Activities | 4.050M | -4.420M |
| Cash From Investing Activities | -480.0K | -590.0K |
| Cash From Financing Activities | -1.540M | 3.560M |
| Net Change In Cash | 2.030M | -1.450M |
| YoY Change | -240.0% | -136.25% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $4.050M | -$4.420M |
| Capital Expenditures | -$240.0K | -$110.0K |
| Free Cash Flow | $4.290M | -$4.310M |
| YoY Change | -199.54% | 389.77% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2020 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
6595872 | USD |
| CY2020 | us-gaap |
Interest Expense
InterestExpense
|
718837 | USD |
| CY2019 | us-gaap |
Interest Expense
InterestExpense
|
USD | |
| CY2020 | MSGM |
Pro Forma Net Loss Per Share Basic And Diluted
ProFormaNetLossPerShareBasicAndDiluted
|
-0.25 | |
| CY2019 | MSGM |
Pro Forma Net Loss Per Share Basic And Diluted
ProFormaNetLossPerShareBasicAndDiluted
|
||
| CY2019 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
4888877 | USD |
| CY2020 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
3402310 | USD |
| CY2019 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
3771570 | USD |
| CY2020 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4649187 | USD |
| CY2019 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4784034 | USD |
| CY2020 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4335434 | USD |
| CY2019 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2605782 | USD |
