2019 Q2 Form 10-Q Financial Statement
#000156459019030866 Filed on August 08, 2019
Income Statement
Concept | 2019 Q2 |
---|---|
Revenue | $880.3K |
YoY Change | 39.21% |
Cost Of Revenue | $125.0K |
YoY Change | -37.64% |
Gross Profit | $755.3K |
YoY Change | 74.88% |
Gross Profit Margin | 85.8% |
Selling, General & Admin | $2.800M |
YoY Change | 6.59% |
% of Gross Profit | 370.71% |
Research & Development | $535.9K |
YoY Change | 10.05% |
% of Gross Profit | 70.95% |
Depreciation & Amortization | $23.45K |
YoY Change | 17.25% |
% of Gross Profit | 3.1% |
Operating Expenses | $3.336M |
YoY Change | 7.13% |
Operating Profit | -$2.581M |
YoY Change | -3.78% |
Interest Expense | $141.0K |
YoY Change | 182.93% |
% of Operating Profit | |
Other Income/Expense, Net | |
YoY Change | |
Pretax Income | -$2.565M |
YoY Change | -2.46% |
Income Tax | |
% Of Pretax Income | |
Net Earnings | -$2.565M |
YoY Change | -2.44% |
Net Earnings / Revenue | -291.4% |
Basic Earnings Per Share | |
Diluted Earnings Per Share | -$4.500M |
COMMON SHARES | |
Basic Shares Outstanding | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2019 Q2 |
---|---|
SHORT-TERM ASSETS | |
Cash & Short-Term Investments | $6.669M |
YoY Change | -42.9% |
Cash & Equivalents | $6.669M |
Short-Term Investments | |
Other Short-Term Assets | $817.5K |
YoY Change | 77.71% |
Inventory | $349.2K |
Prepaid Expenses | |
Receivables | $331.0K |
Other Receivables | $0.00 |
Total Short-Term Assets | $8.167M |
YoY Change | -36.09% |
LONG-TERM ASSETS | |
Property, Plant & Equipment | $192.6K |
YoY Change | 17.53% |
Goodwill | |
YoY Change | |
Intangibles | |
YoY Change | |
Long-Term Investments | |
YoY Change | |
Other Assets | $183.4K |
YoY Change | 52.83% |
Total Long-Term Assets | $376.0K |
YoY Change | 30.6% |
TOTAL ASSETS | |
Total Short-Term Assets | $8.167M |
Total Long-Term Assets | $376.0K |
Total Assets | $8.543M |
YoY Change | -34.63% |
SHORT-TERM LIABILITIES | |
YoY Change | |
Accounts Payable | $429.5K |
YoY Change | 26.31% |
Accrued Expenses | $947.4K |
YoY Change | -10.62% |
Deferred Revenue | $40.00 |
YoY Change | |
Short-Term Debt | $0.00 |
YoY Change | |
Long-Term Debt Due | |
YoY Change | |
Total Short-Term Liabilities | $1.436M |
YoY Change | -8.56% |
LONG-TERM LIABILITIES | |
Long-Term Debt | $0.00 |
YoY Change | |
Other Long-Term Liabilities | $0.00 |
YoY Change | -100.0% |
Total Long-Term Liabilities | $0.00 |
YoY Change | -100.0% |
TOTAL LIABILITIES | |
Total Short-Term Liabilities | $1.436M |
Total Long-Term Liabilities | $0.00 |
Total Liabilities | $1.436M |
YoY Change | -11.13% |
SHAREHOLDERS EQUITY | |
Retained Earnings | -$50.58M |
YoY Change | 26.61% |
Common Stock | $57.69M |
YoY Change | 4648521.51% |
Preferred Stock | |
YoY Change | |
Treasury Stock (at cost) | $6.464K |
YoY Change | 0.0% |
Treasury Stock Shares | |
Shareholders Equity | $7.061M |
YoY Change | |
Total Liabilities & Shareholders Equity | $8.543M |
YoY Change | -34.63% |
Cashflow Statement
Concept | 2019 Q2 |
---|---|
OPERATING ACTIVITIES | |
Net Income | -$2.565M |
YoY Change | -2.44% |
Depreciation, Depletion And Amortization | $23.45K |
YoY Change | 17.25% |
Cash From Operating Activities | -$2.288M |
YoY Change | -2.24% |
INVESTING ACTIVITIES | |
Capital Expenditures | -$29.50K |
YoY Change | 47.5% |
Acquisitions | |
YoY Change | |
Other Investing Activities | |
YoY Change | |
Cash From Investing Activities | -$29.50K |
YoY Change | 47.5% |
FINANCING ACTIVITIES | |
Cash Dividend Paid | |
YoY Change | |
Common Stock Issuance & Retirement, Net | |
YoY Change | |
Debt Paid & Issued, Net | |
YoY Change | |
Cash From Financing Activities | -247.7K |
YoY Change | 395.3% |
NET CHANGE | |
Cash From Operating Activities | -2.288M |
Cash From Investing Activities | -29.50K |
Cash From Financing Activities | -247.7K |
Net Change In Cash | -2.565M |
YoY Change | 6.42% |
FREE CASH FLOW | |
Cash From Operating Activities | -$2.288M |
Capital Expenditures | -$29.50K |
Free Cash Flow | -$2.258M |
YoY Change | -2.67% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
470944526 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
One Broadway | ||
dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
14th Floor | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Cambridge | ||
dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
Massachusetts | ||
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
02142 | ||
dei |
City Area Code
CityAreaCode
|
617 | ||
dei |
Local Phone Number
LocalPhoneNumber
|
996-9058 | ||
CY2019Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6668871 | |
CY2018Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6540794 | |
CY2019Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
331013 | |
CY2018Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
382258 | |
CY2019Q2 | us-gaap |
Inventory Net
InventoryNet
|
349196 | |
CY2018Q4 | us-gaap |
Inventory Net
InventoryNet
|
256149 | |
CY2019Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
817478 | |
CY2018Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
695276 | |
CY2019Q2 | us-gaap |
Assets Current
AssetsCurrent
|
8166558 | |
CY2018Q4 | us-gaap |
Assets Current
AssetsCurrent
|
7874477 | |
CY2019Q2 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
75000 | |
CY2018Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
75000 | |
CY2019Q2 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
108402 | |
CY2018Q4 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
144582 | |
CY2019Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
192574 | |
CY2018Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
187513 | |
CY2019Q2 | us-gaap |
Assets
Assets
|
8542534 | |
CY2018Q4 | us-gaap |
Assets
Assets
|
8281572 | |
CY2019Q2 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
1376878 | |
CY2018Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
1743427 | |
CY2019Q2 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
58477 | |
CY2018Q4 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
3661 | |
CY2019Q2 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
570 | |
CY2018Q4 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
1990 | |
CY2019Q2 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
40 | |
CY2018Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
106609 | |
CY2019Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
1435965 | |
CY2019Q2 | us-gaap |
Liabilities
Liabilities
|
1435965 | |
CY2018Q4 | us-gaap |
Liabilities
Liabilities
|
1855687 | |
CY2019Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2018Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2019Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
1713 | |
CY2018Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
1245 | |
CY2019Q2 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
57687680 | |
CY2018Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
51720630 | |
CY2019Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-50576360 | |
CY2018Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-45289526 | |
CY2019Q2 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
6464 | |
CY2018Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
6464 | |
CY2019Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7106569 | |
CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6425885 | |
CY2019Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
8542534 | |
CY2018Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
8281572 | |
CY2019Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2018Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2019Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | |
CY2018Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | |
CY2019Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
17139691 | |
CY2018Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
12450187 | |
CY2019Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
17138883 | |
CY2018Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
12449379 | |
CY2019Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
880349 | |
CY2018Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
632369 | |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1710415 | ||
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
945548 | ||
CY2019Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
17105527 | |
CY2018Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
12407758 | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
16033584 | ||
CY2019Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.15 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.41 | ||
CY2019Q1 | us-gaap |
Cumulative Effect On Retained Earnings Net Of Tax1
CumulativeEffectOnRetainedEarningsNetOfTax1
|
-123447 | |
CY2019Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
5648928 | |
CY2019Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
-72115 | |
CY2019Q1 | us-gaap |
Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
|
1 | |
CY2019Q1 | myo |
Warrants Issued As Offering Costs And Recorded As Derivative Liability
WarrantsIssuedAsOfferingCostsAndRecordedAsDerivativeLiability
|
196236 | |
CY2019Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
396325 | |
CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2598060 | |
CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9481281 | |
CY2019Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
15 | |
CY2019Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
-6356 | |
CY2019Q2 | us-gaap |
Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
|
-72 | |
CY2019Q2 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
197028 | |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
12445778 | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3439161 | ||
CY2018Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13924072 | |
CY2018Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
-5041 | |
CY2018Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
2 | |
CY2018Q2 | myo |
Common Stock Issued For Warrants Exercised
CommonStockIssuedForWarrantsExercised
|
5901 | |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
-63149 | |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
336355 | |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2345402 | |
CY2018Q2 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
155725 | |
CY2018Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11451098 | |
CY2019Q1 | myo |
Offering Cost From Sale Of Shares
OfferingCostFromSaleOfShares
|
710572 | |
CY2019Q2 | myo |
Offering Cost From Sale Of Shares
OfferingCostFromSaleOfShares
|
||
CY2018Q1 | myo |
Offering Cost From Sale Of Shares
OfferingCostFromSaleOfShares
|
||
CY2018Q2 | myo |
Offering Cost From Sale Of Shares
OfferingCostFromSaleOfShares
|
||
CY2019Q1 | us-gaap |
Restricted Stock Shares Issued Net Of Shares For Tax Withholdings
RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings
|
45459 | |
CY2019Q2 | us-gaap |
Restricted Stock Shares Issued Net Of Shares For Tax Withholdings
RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings
|
7032 | |
CY2018Q1 | us-gaap |
Restricted Stock Shares Issued Net Of Shares For Tax Withholdings
RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings
|
17570 | |
CY2018Q2 | us-gaap |
Restricted Stock Shares Issued Net Of Shares For Tax Withholdings
RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings
|
1692 | |
us-gaap |
Profit Loss
ProfitLoss
|
-5163387 | ||
us-gaap |
Profit Loss
ProfitLoss
|
-4974963 | ||
us-gaap |
Depreciation
Depreciation
|
45076 | ||
us-gaap |
Depreciation
Depreciation
|
28900 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
593353 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
492080 | ||
us-gaap |
Inventory Write Down
InventoryWriteDown
|
28887 | ||
myo |
Fair Value Of Warrants And Derivative Liabilities
FairValueOfWarrantsAndDerivativeLiabilities
|
141420 | ||
myo |
Fair Value Of Warrants And Derivative Liabilities
FairValueOfWarrantsAndDerivativeLiabilities
|
17968 | ||
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-2481 | ||
us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
12606 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-51245 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
87912 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
195397 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
109498 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
161014 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
74507 | ||
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-23574 | ||
us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
-366549 | ||
us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
122099 | ||
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-1420 | ||
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-17466 | ||
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-106569 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5407421 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4610348 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
34903 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
81457 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-34903 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-81457 | ||
myo |
Proceeds From Payments For Issuance Costs
ProceedsFromPaymentsForIssuanceCosts
|
-49042 | ||
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
78542 | ||
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
68190 | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
15 | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
2 | ||
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
3556391 | ||
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
5648928 | ||
CY2018Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
11758729 | |
myo |
Inventory Capitalized As Sales Demo Equipment
InventoryCapitalizedAsSalesDemoEquipment
|
34142 | ||
myo |
Issuance Of Warrants Recorded As Derivative Liability
IssuanceOfWarrantsRecordedAsDerivativeLiability
|
196236 | ||
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 1 — Description of Business</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Myomo Inc. (“Myomo” or the Company”) is a wearable medical robotics company that develops, designs, and produces myoelectric orthotics for people with neuromuscular disorders. The MyoPro ® myoelectric upper limb orthosis product is registered with the U.S. Food and Drug Administration as a Class II medical device. The Company sells its products to orthotics and prosthetics (O&P) providers, the Veterans Health Administration, rehabilitation hospitals, and through distributors. Recently, the Company has begun providing devices directly to patients and billing their insurance companies directly, often utilizing the clinical services of O&P providers for which they are paid a fee. The Company was incorporated in the State of Delaware on September 1, 2004 and is headquartered in Cambridge, Massachusetts.</p> | ||
us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="margin-top:8pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain prior year amounts have been reclassified to conform with the current year presentation. </p> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America require management to make estimates and assumptions that affect certain reported amounts and disclosures. These estimates and assumptions are reviewed on an on-going basis and updated as appropriate. Actual results could differ from those estimates. The Company’s significant estimates include the allowance for doubtful accounts, deferred tax valuation allowances, warranty obligations and reserves for slow-moving and consigned inventory.</p> | ||
CY2019Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
5600000 | |
CY2019Q2 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
429459 | |
CY2018Q4 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
426727 | |
CY2019Q2 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
632887 | |
CY2018Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
1027757 | |
CY2019Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
23750 | |
CY2019Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
290782 | |
CY2018Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
288943 | |
CY2019Q1 | us-gaap |
Inventory Net
InventoryNet
|
171514 | |
CY2019Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
656464 | |
CY2019Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-45412973 | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6629165 | ||
CY2019Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
26769 | |
CY2018Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
46261 | |
CY2018Q4 | us-gaap |
Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
|
135635 | |
CY2019Q2 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
346427 | |
CY2018Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
149253 | |
CY2019Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
373196 | |
CY2018Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
331149 | |
CY2019Q2 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
24000 | |
CY2018Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
24000 | |
CY2018Q4 | myo |
Inventory Reserves Under Consignment
InventoryReservesUnderConsignment
|
51000 | |
CY2019Q2 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
6361649 | |
CY2018Q4 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
3661 | |
us-gaap |
Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
|
196236 | ||
us-gaap |
Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
|
-141420 | ||
CY2019Q2 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
58477 | |
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
8854 | ||
us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
0 | ||
us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
0 | ||
CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
102500 | |
CY2018Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
30500 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
176500 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
237000 | ||
CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
|
0.6324 | |
CY2018Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
|
0.6045 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
|
0.6253 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
|
0.6045 | ||
CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0193 | |
CY2018Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0294 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0217 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0294 | ||
CY2019Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y7M6D | |
CY2018Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y8M4D | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y5M15D | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y8M4D | ||
CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.53 | |
CY2018Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.08 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.64 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.14 | ||
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
593353 | ||
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
492080 | ||
us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
26000 | ||
us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
238500 | ||
CY2019Q2 | us-gaap |
Accounts Receivable Related Parties
AccountsReceivableRelatedParties
|
0 | |
CY2018Q4 | us-gaap |
Accounts Receivable Related Parties
AccountsReceivableRelatedParties
|
0 | |
us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
235000 | ||
us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
232000 | ||
CY2019Q2 | us-gaap |
Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
|
42000 | |
CY2018Q4 | us-gaap |
Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
|
54000 |