$NANX
NANOPHASE TECHNOLOGIES Corp

2014 Q1 Form 10-K Financial Statement

#000119312514119638 Filed on March 28, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2012 Q4 2012 Q3
Revenue $2.585M $2.740M $2.101M
YoY Change -13.23% 61.18% -6.21%
Cost Of Revenue $1.877M $2.050M $1.572M
YoY Change -9.45% 26.54% -16.85%
Gross Profit $708.0K $700.0K $529.4K
YoY Change -21.85% 775.0% 51.25%
Gross Profit Margin 27.39% 25.55% 25.2%
Selling, General & Admin $798.0K $860.0K $789.2K
YoY Change -16.88% -3.37% -16.05%
% of Gross Profit 112.71% 122.86% 149.07%
Research & Development $337.0K $420.0K $396.5K
YoY Change -21.45% -6.67% -5.59%
% of Gross Profit 47.6% 60.0% 74.9%
Depreciation & Amortization $187.0K $230.0K $240.0K
YoY Change -17.26% -14.81% -17.24%
% of Gross Profit 26.41% 32.86% 45.34%
Operating Expenses $1.135M $1.270M $1.186M
YoY Change -18.29% -5.93% -12.82%
Operating Profit -$427.0K -$570.0K -$656.3K
YoY Change -11.59% -55.12% -35.02%
Interest Expense $2.000K $0.00 $2.056K
YoY Change -71.43%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change -100.0%
Pretax Income -$429.0K -$580.0K -$658.3K
YoY Change -11.36% -54.33% -34.82%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$429.0K -$580.0K -$658.3K
YoY Change -11.36% -54.33% -34.82%
Net Earnings / Revenue -16.6% -21.17% -31.34%
Basic Earnings Per Share
Diluted Earnings Per Share -$15.10K -$20.33K -$24.48K
COMMON SHARES
Basic Shares Outstanding 28.48M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.180M $4.150M $4.600M
YoY Change -40.11% 52.57% 37.31%
Cash & Equivalents $2.148M $4.124M $4.566M
Short-Term Investments $30.00K $30.00K $30.00K
Other Short-Term Assets $250.0K $240.0K $270.0K
YoY Change -30.56% -38.46% -35.71%
Inventory $931.0K $1.139M $1.290M
Prepaid Expenses
Receivables $1.130M $1.031M $870.0K
Other Receivables $0.00 $30.00K $0.00
Total Short-Term Assets $4.489M $6.592M $7.030M
YoY Change -28.18% 23.21% 5.87%
LONG-TERM ASSETS
Property, Plant & Equipment $2.319M $3.028M $3.220M
YoY Change -18.63% -18.38% -18.69%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.00K $30.00K $30.00K
YoY Change -10.0% 0.0% 0.0%
Total Long-Term Assets $2.346M $3.058M $3.240M
YoY Change -18.82% -18.24% -18.8%
TOTAL ASSETS
Total Short-Term Assets $4.489M $6.592M $7.030M
Total Long-Term Assets $2.346M $3.058M $3.240M
Total Assets $6.835M $9.650M $10.27M
YoY Change -25.22% 6.16% -3.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $754.0K $680.0K $610.0K
YoY Change 4.72% 112.5% 10.91%
Accrued Expenses $259.0K $485.0K $600.0K
YoY Change -31.84% -3.0% -4.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $30.00K $30.00K $30.00K
YoY Change 0.0%
Total Short-Term Liabilities $1.044M $1.200M $1.300M
YoY Change -7.61% 46.34% 10.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $60.00K $70.00K
YoY Change -100.0%
Other Long-Term Liabilities $790.0K $790.0K $790.0K
YoY Change 0.0% -1.25% 0.0%
Total Long-Term Liabilities $794.0K $853.0K $860.0K
YoY Change -3.17% 6.63% 8.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.044M $1.200M $1.300M
Total Long-Term Liabilities $794.0K $853.0K $860.0K
Total Liabilities $1.838M $2.053M $2.160M
YoY Change -5.74% 26.73% 9.64%
SHAREHOLDERS EQUITY
Retained Earnings -$91.11M -$88.20M
YoY Change
Common Stock $285.0K $285.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.997M $7.597M $8.110M
YoY Change
Total Liabilities & Shareholders Equity $6.835M $9.650M $10.27M
YoY Change -25.22% 6.16% -3.39%

Cashflow Statement

Concept 2014 Q1 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income -$429.0K -$580.0K -$658.3K
YoY Change -11.36% -54.33% -34.82%
Depreciation, Depletion And Amortization $187.0K $230.0K $240.0K
YoY Change -17.26% -14.81% -17.24%
Cash From Operating Activities -$1.070M -$400.0K -$240.0K
YoY Change 148.84% -33.33% 60.0%
INVESTING ACTIVITIES
Capital Expenditures $30.00K -$30.00K -$80.00K
YoY Change -28.57% 0.0% 700.0%
Acquisitions
YoY Change
Other Investing Activities -$20.00K $0.00 $0.00
YoY Change 100.0%
Cash From Investing Activities -$50.00K -$40.00K -$70.00K
YoY Change -16.67% 33.33% 600.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.200M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K -10.00K 2.220M
YoY Change -66.67%
NET CHANGE
Cash From Operating Activities -1.070M -400.0K -240.0K
Cash From Investing Activities -50.00K -40.00K -70.00K
Cash From Financing Activities -10.00K -10.00K 2.220M
Net Change In Cash -1.130M -450.0K 1.910M
YoY Change 117.31% -28.57% -1293.75%
FREE CASH FLOW
Cash From Operating Activities -$1.070M -$400.0K -$240.0K
Capital Expenditures $30.00K -$30.00K -$80.00K
Free Cash Flow -$1.100M -$370.0K -$160.0K
YoY Change 133.05% -35.09% 14.29%

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CY2013 dei Entity Registrant Name
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CY2013 us-gaap Nature Of Operations
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<div> <table style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="7%" align="left"><b>(1)</b></td> <td valign="top" align="left"> <p style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'" align="justify"><b>Description of Business</b></p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 11pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 7%; -webkit-text-stroke-width: 0px" align="justify">Nanophase is an advanced materials and applications developer and commercial manufacturer with an integrated family of nanomaterial technologies. We produce engineered materials for use in a variety of diverse markets: personal care including sunscreens, architectural coatings, industrial coating ingredients, abrasion-resistant additives, plastics additives, medical diagnostics, energy, and a variety of surface finishing technologies (polishing) applications. We target markets in which we believe practical solutions may be found using nanoengineered products. We work closely with current and potential customers in these target markets to identify their material and performance requirements and market our materials to various end-use applications manufacturers. Recently developed technologies have made certain new products possible and opened potential new markets. We recently developed new material solutions in surface finishing technologies (polishing) and energy-management areas that have been taken to potential customers and are in the process of qualification. Although our primary strategic focus has been the North American market, we currently sell material to customers overseas and have been working to expand our reach within foreign markets. The Company was incorporated in Illinois on November&#xA0;25, 1989, and became a Delaware corporation during November 1997. Our common stock trades on the OTCQB marketplace under the symbol NANX.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 11pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 7%; -webkit-text-stroke-width: 0px" align="justify">While product sales comprise the majority of our revenue, we also recognize revenue from other sources from time to time. These activities are not expected to drive the long-term growth of the business. For this reason, we classify such revenue as &#x201C;other revenue&#x201D; in our Statement of Operations, as it does not represent revenue directly from our nanocrystalline materials.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 11pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 7%; -webkit-text-stroke-width: 0px" align="justify">The presentation of certain prior year disclosures has been modified to conform to current year presentation, as financial data is now presented in thousands of dollars rather than in dollars.</p> <br class="Apple-interchange-newline" /> </div>
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M18D
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28469393 shares
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.42
CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-522000
CY2013 us-gaap Revenue Recognition Software
RevenueRecognitionSoftware
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Other Revenue</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Other revenue included revenue from a technology license through 2012. Technology license fees are recognized when earned pursuant to the agreed upon contractual arrangement, when performance obligations are satisfied, the amount is fixed or determinable, and collectability is reasonably assured.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> During December 1997, we entered into a license agreement whereby we granted a royalty-bearing exclusive right and license, as defined, to purchase, make, use and sell nanocrystalline materials in designated parts of Asia to CIK Nanotek (formerly C.&#xA0;I. Kasei), a subsidiary of Itochu Corporation (&#x201C;CIK&#x201D;). Under this agreement, we also earned royalties on net sales of manufactured products containing nanocrystalline materials. The agreement also provided for minimum sales targets and minimum royalty payments to maintain exclusivity. The agreement expired on March&#xA0;31, 2013, and in conjunction with a subsequent agreement between the parties effective April&#xA0;1, 2013, the relationship between the entities became non-exclusive and royalty-free upon such termination. We recorded royalty revenues, classified as &#x201C;Other Revenue&#x201D; on the Statements of Operations, under this agreement of none and $279 for the years ended December&#xA0;31, 2013 and 2012, respectively.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Shipping and handling costs are included in other revenue when products are shipped and invoiced to the customer. We include the related cost of shipping and handling in cost of goods sold.</p> </div>
CY2013 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
23000
CY2013 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
23000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.34
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2013 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.30
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
600000 shares
CY2013 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
340000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.95 pure
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y10M24D
CY2013 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
9566000
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
23000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
1.80
CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2013 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
23000
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
7000
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> <b>Use of Estimates and Risks and Uncertainties</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Certain assumptions are also necessary to assess the impact of risks and uncertainties on the financial statements, such as cash flow projections, availability of capital if needed to support the ongoing operations of the business, and our expected compliance with contractual commitments. These risks and uncertainties are further discussed in Note 12. Any changes in these assumptions or business plans could have a material impact on the financial statements.</p> </div>
CY2013 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
242000
CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-39000
CY2013 us-gaap Gross Profit
GrossProfit
2560000
CY2013 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-26000
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-848000
CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-276000
CY2013 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-165000
CY2013 us-gaap Interest Expense
InterestExpense
12000
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-127000
CY2013 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-180000
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-842000
CY2013 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
23000
CY2013 us-gaap Interest Income Other
InterestIncomeOther
2000
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
-2491000
CY2013 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
24000
CY2013 us-gaap Interest Paid
InterestPaid
12000
CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1000000
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2478000
CY2013 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-979000
CY2013 us-gaap Net Income Loss
NetIncomeLoss
-2478000
CY2013 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
57000
CY2013 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-111000
CY2013 us-gaap Royalty Revenue
RoyaltyRevenue
0
CY2013 us-gaap Sales Revenue Net
SalesRevenueNet
9590000
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
279000
CY2013 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
20000
CY2013 us-gaap Deferred Tax Expense From Stock Options Exercised
DeferredTaxExpenseFromStockOptionsExercised
0
CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
963000
CY2013 us-gaap Inventory Write Down
InventoryWriteDown
52000
CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-50000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3000
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
242000
CY2013 us-gaap Cost Of Revenue
CostOfRevenue
7030000
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1679000
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
2000
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7000
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
875000
CY2013 us-gaap Depreciation
Depreciation
866000
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
242000
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
653000
CY2013 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
6000
CY2013 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
4000
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3372000
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2013 nanx Defined Contribution Plan Employer Matching Contribution Percent For Two Percent Of Employee Contribution
DefinedContributionPlanEmployerMatchingContributionPercentForTwoPercentOfEmployeeContribution
0.50 pure
CY2013 nanx Cash And Cash Equivalents Maturity Period Description
CashAndCashEquivalentsMaturityPeriodDescription
90 days or less
CY2013 nanx Operating Loss Carryforwards Expiration Year Start
OperatingLossCarryforwardsExpirationYearStart
2018
CY2013 nanx Capital Loss Carryforwards Expiration Year
CapitalLossCarryforwardsExpirationYear
2014
CY2012 us-gaap Gross Profit
GrossProfit
2641000
CY2012 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
120000
CY2012 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
13000
CY2013 nanx Defined Contribution Plan Employer Matching Contribution Percent For Next Compensation Slab
DefinedContributionPlanEmployerMatchingContributionPercentForNextCompensationSlab
0.02 pure
CY2013 nanx Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.044 pure
CY2013 nanx Income Tax Recognition Threshold Percentage
IncomeTaxRecognitionThresholdPercentage
0.50 pure
CY2013 nanx Defined Contribution Plan Employer Matching Contribution Amount
DefinedContributionPlanEmployerMatchingContributionAmount
109000
CY2013 nanx Operating Loss Carryforwards Expiration Year End
OperatingLossCarryforwardsExpirationYearEnd
2033
CY2013 nanx Defined Contribution Plan Employer Matching Contribution Percent For First Compensation Slab
DefinedContributionPlanEmployerMatchingContributionPercentForFirstCompensationSlab
0.03 pure
CY2013 nanx Defined Contribution Plan Employer Matching Contribution Percent For Three Percent Of Employee Contribution
DefinedContributionPlanEmployerMatchingContributionPercentForThreePercentOfEmployeeContribution
1.00 pure
CY2013 nanx Major Customers Number Of Customers
MajorCustomersNumberOfCustomers
3 Customer
CY2013 nanx Accounts Receivables Credit Period
AccountsReceivablesCreditPeriod
P30D
CY2013 nanx Number Of Capital Leases
NumberOfCapitalLeases
0 Lease
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.011 pure
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24476605 shares
CY2012 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-600000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.23
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2012 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.86 pure
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
293000
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-151000
CY2012 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-4000
CY2012 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
20000
CY2012 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
9725000
CY2012 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3000
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
-2389000
CY2012 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
312000
CY2012 us-gaap Interest Paid
InterestPaid
7000
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-300000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2393000
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
153000
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-2393000
CY2012 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
23000
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-200000
CY2012 us-gaap Royalty Revenue
RoyaltyRevenue
279000
CY2012 us-gaap Sales Revenue Net
SalesRevenueNet
10037000
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
152000
CY2012 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
15000
CY2012 us-gaap Deferred Tax Expense From Stock Options Exercised
DeferredTaxExpenseFromStockOptionsExercised
0
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
932000
CY2012 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
2197000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
291000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1430000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-167000
CY2012 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-24000
CY2012 us-gaap Interest Expense
InterestExpense
7000
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-122000
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
355000
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2220000
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-813000
CY2012 us-gaap Cost Of Revenue
CostOfRevenue
7396000
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1627000
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
2000
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
982000
CY2012 us-gaap Depreciation
Depreciation
974000
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
293000
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
647000
CY2012 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
5000
CY2012 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1000
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3403000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2012 nanx Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.045 pure
CY2012 nanx Defined Contribution Plan Employer Matching Contribution Amount
DefinedContributionPlanEmployerMatchingContributionAmount
107000
CY2012 nanx Stock Issued During Period Value Rights Offering
StockIssuedDuringPeriodValueRightsOffering
2221000
CY2012 nanx Number Of Capital Leases
NumberOfCapitalLeases
4 Lease

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