2017 Q4 Form 10-Q Financial Statement
#000162828017010010 Filed on October 20, 2017
Income Statement
Concept | 2017 Q4 | 2017 Q3 | 2016 Q3 |
---|---|---|---|
Revenue | $4.930M | $3.547M | $3.389M |
YoY Change | 32.53% | 4.64% | 64.98% |
Cost Of Revenue | $2.860M | $2.041M | $2.032M |
YoY Change | 40.89% | 0.45% | 81.54% |
Gross Profit | $2.070M | $1.506M | $1.358M |
YoY Change | 22.49% | 10.91% | 45.16% |
Gross Profit Margin | 41.99% | 42.45% | 40.05% |
Selling, General & Admin | $4.080M | $4.178M | $4.125M |
YoY Change | 11.78% | 1.28% | 23.07% |
% of Gross Profit | 197.1% | 277.48% | 303.85% |
Research & Development | $880.0K | $840.6K | $1.203M |
YoY Change | -3.3% | -30.11% | 27.83% |
% of Gross Profit | 42.51% | 55.83% | 88.59% |
Depreciation & Amortization | $60.00K | $70.00K | $70.00K |
YoY Change | 0.0% | 0.0% | 16.67% |
% of Gross Profit | 2.9% | 4.65% | 5.16% |
Operating Expenses | $4.950M | $5.019M | $5.328M |
YoY Change | 8.79% | -5.8% | 24.12% |
Operating Profit | -$2.880M | -$3.513M | -$3.970M |
YoY Change | 0.7% | -11.52% | 18.25% |
Interest Expense | $0.00 | $0.00 | $60.00K |
YoY Change | -100.0% | -100.0% | -60.0% |
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$2.880M | -$3.510M | -$3.910M |
YoY Change | 2.49% | -10.23% | 22.19% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$2.880M | -$3.509M | -$3.908M |
YoY Change | 2.49% | -10.21% | 21.99% |
Net Earnings / Revenue | -58.42% | -98.94% | -115.3% |
Basic Earnings Per Share | -$3.11 | ||
Diluted Earnings Per Share | -$11.52M | -$3.11 | -$65.17M |
COMMON SHARES | |||
Basic Shares Outstanding | 2.346M shares | 2.036M shares | |
Diluted Shares Outstanding | 2.036M shares |
Balance Sheet
Concept | 2017 Q4 | 2017 Q3 | 2016 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $4.040M | $3.970M | $7.570M |
YoY Change | 2.28% | -47.56% | -17.0% |
Cash & Equivalents | $4.044M | $3.969M | $7.568M |
Short-Term Investments | |||
Other Short-Term Assets | $2.640M | $2.040M | $1.290M |
YoY Change | 60.0% | 58.14% | 46.59% |
Inventory | $2.143M | $1.786M | $1.160M |
Prepaid Expenses | |||
Receivables | $1.049M | $423.4K | $570.0K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $9.103M | $8.221M | $10.59M |
YoY Change | 19.99% | -22.37% | -11.53% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $440.8K | $417.3K | $580.0K |
YoY Change | -17.24% | -28.05% | -22.67% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $60.00K | $130.0K | $170.0K |
YoY Change | -62.5% | -23.53% | -19.05% |
Total Long-Term Assets | $495.9K | $552.0K | $760.0K |
YoY Change | -28.86% | -27.37% | -20.83% |
TOTAL ASSETS | |||
Total Short-Term Assets | $9.103M | $8.221M | $10.59M |
Total Long-Term Assets | $495.9K | $552.0K | $760.0K |
Total Assets | $9.599M | $8.773M | $11.35M |
YoY Change | 15.88% | -22.71% | -12.22% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $733.3K | $725.2K | $710.0K |
YoY Change | -0.1% | 2.14% | -25.26% |
Accrued Expenses | $2.362M | $1.911M | $1.810M |
YoY Change | 43.27% | 5.58% | -4.74% |
Deferred Revenue | $820.0K | ||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $4.582M | $4.255M | $3.590M |
YoY Change | 38.07% | 18.52% | 1.48% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $0.00 | $0.00 | $50.00K |
YoY Change | -100.0% | -94.44% | |
Total Long-Term Liabilities | $0.00 | $0.00 | $50.00K |
YoY Change | -100.0% | -94.44% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $4.582M | $4.255M | $3.590M |
Total Long-Term Liabilities | $0.00 | $0.00 | $50.00K |
Total Liabilities | $4.582M | $4.255M | $3.640M |
YoY Change | 37.88% | 16.9% | -17.99% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$191.3M | -$188.5M | |
YoY Change | 7.2% | ||
Common Stock | $271.00 | $215.00 | |
YoY Change | 222.62% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $5.017M | $4.518M | $7.710M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $9.599M | $8.773M | $11.35M |
YoY Change | 15.88% | -22.71% | -12.21% |
Cashflow Statement
Concept | 2017 Q4 | 2017 Q3 | 2016 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.880M | -$3.509M | -$3.908M |
YoY Change | 2.49% | -10.21% | 21.99% |
Depreciation, Depletion And Amortization | $60.00K | $70.00K | $70.00K |
YoY Change | 0.0% | 0.0% | 16.67% |
Cash From Operating Activities | -$3.170M | -$2.870M | -$3.660M |
YoY Change | -12.43% | -21.58% | 6.71% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$90.00K | -$30.00K | -$30.00K |
YoY Change | 800.0% | 0.0% | -66.67% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$90.00K | -$30.00K | -$30.00K |
YoY Change | 800.0% | 0.0% | -66.67% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 3.340M | 3.260M | -70.00K |
YoY Change | 16600.0% | -4757.14% | |
NET CHANGE | |||
Cash From Operating Activities | -3.170M | -2.870M | -3.660M |
Cash From Investing Activities | -90.00K | -30.00K | -30.00K |
Cash From Financing Activities | 3.340M | 3.260M | -70.00K |
Net Change In Cash | 80.00K | 360.0K | -3.760M |
YoY Change | -102.22% | -109.57% | 6.82% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$3.170M | -$2.870M | -$3.660M |
Capital Expenditures | -$90.00K | -$30.00K | -$30.00K |
Free Cash Flow | -$3.080M | -$2.840M | -$3.630M |
YoY Change | -14.68% | -21.76% | 8.68% |
Facts In Submission
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---|---|---|---|---|
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|
false | ||
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--12-31 | ||
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Q3 | ||
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Document Fiscal Year Focus
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2017 | ||
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Document Period End Date
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2017-09-30 | ||
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Document Type
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10-Q | ||
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Interest And Other Income
InterestAndOtherIncome
|
3554 | USD |
us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
11018 | USD | |
CY2016Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
630361 | USD |
CY2017Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
780589 | USD |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-87884 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-70226 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-11457118 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-9479491 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3908153 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-12098928 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3508983 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-9979179 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-3908153 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-31945305 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-6342081 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-16853959 | USD | |
CY2016Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
5327777 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
15569221 | USD | |
CY2017Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
5018547 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
14983537 | USD | |
CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3970173 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12343831 | USD | |
CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3512864 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-10198677 | USD | |
CY2016Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
245752 | USD |
us-gaap |
Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
|
9569800 | USD | |
CY2016Q4 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
45879 | USD |
CY2017Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-188500000 | USD |
CY2017Q3 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
112008 | USD |
CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
532706 | USD |
CY2017Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
417290 | USD |
CY2016 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
488200 | USD |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
454730 | USD | |
CY2016Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1202651 | USD |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
569555 | shares | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
2036117 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
1450237 | shares | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3487291 | USD | |
CY2017Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
840577 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2621445 | USD | |
CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-178478801 | USD |
CY2017Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-188457980 | USD |
CY2017Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
215724 | USD |
CY2016Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
0 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
0 | USD | |
CY2017Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
0 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
0 | USD | |
CY2016Q4 | us-gaap |
Other Deferred Credits Current
OtherDeferredCreditsCurrent
|
619309 | USD |
CY2017Q3 | us-gaap |
Other Deferred Credits Current
OtherDeferredCreditsCurrent
|
1346942 | USD |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
87884 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
70226 | USD | |
CY2016Q3 | us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
0 | USD |
us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
19846377 | USD | |
CY2017Q3 | us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
2833098 | USD |
us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
6874780 | USD | |
CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1646821 | USD |
CY2017Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2041935 | USD |
CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
|
164262 | USD |
CY2017Q3 | us-gaap |
Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
|
134695 | USD |
us-gaap |
Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
|
6650316 | USD | |
CY2016Q3 | us-gaap |
Revenues
Revenues
|
3389427 | USD |
us-gaap |
Revenues
Revenues
|
8312096 | USD | |
CY2017Q3 | us-gaap |
Revenues
Revenues
|
3546680 | USD |
us-gaap |
Revenues
Revenues
|
12162861 | USD | |
CY2016Q3 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
2959311 | USD |
us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
8199469 | USD | |
CY2017Q3 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
2919504 | USD |
us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
8436497 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
176684 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
170093 | USD | |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4960764 | USD |
CY2017Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4517639 | USD |
CY2017Q2 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.125 | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
639512 | shares |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during reporting periods. Actual results could differ from those estimates.</font></div></div> |