2018 Q2 Form 10-Q Financial Statement

#000162828018009424 Filed on July 19, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2 2017 Q1
Revenue $3.752M $4.310M $4.306M
YoY Change -12.96% 62.8% 89.26%
Cost Of Revenue $1.950M $2.639M $2.698M
YoY Change -26.11% 67.86% 81.96%
Gross Profit $1.801M $1.671M $1.671M
YoY Change 7.82% 55.4% 110.75%
Gross Profit Margin 48.01% 38.76% 38.8%
Selling, General & Admin $3.371M $4.165M $4.019M
YoY Change -19.04% 0.97% 4.89%
% of Gross Profit 187.17% 249.28% 240.59%
Research & Development $1.617M $877.6K $903.3K
YoY Change 84.24% -22.19% -21.91%
% of Gross Profit 89.76% 52.53% 54.07%
Depreciation & Amortization $80.00K $70.00K $61.58K
YoY Change 14.29% 16.67% -0.1%
% of Gross Profit 4.44% 4.19% 3.69%
Operating Expenses $4.988M $5.042M $4.923M
YoY Change -1.07% -4.0% -1.33%
Operating Profit -$3.187M -$3.372M -$3.314M
YoY Change -5.47% -19.29% -21.02%
Interest Expense $130.0K $80.00K
YoY Change 62.5% -20.0%
% of Operating Profit
Other Income/Expense, Net $10.00K
YoY Change
Pretax Income $570.0K -$3.240M -$3.230M
YoY Change -117.59% -20.98% -21.22%
Income Tax
% Of Pretax Income
Net Earnings $573.9K -$3.238M -$3.232M
YoY Change -117.73% -20.94% -21.07%
Net Earnings / Revenue 15.3% -75.12% -75.07%
Basic Earnings Per Share $0.08 -$2.49 -$7.27
Diluted Earnings Per Share $0.04 -$2.49 -$7.27
COMMON SHARES
Basic Shares Outstanding 7.330M shares 1.302M shares 1.001M shares
Diluted Shares Outstanding 13.92M shares 1.302M shares 1.001M shares

Balance Sheet

Concept 2018 Q2 2017 Q2 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.110M $3.610M $6.900M
YoY Change 96.95% -68.14% -21.05%
Cash & Equivalents $7.109M $3.612M $6.897M
Short-Term Investments
Other Short-Term Assets $690.0K $1.720M $1.420M
YoY Change -59.88% 60.75% 97.22%
Inventory $2.424M $1.477M $1.197M
Prepaid Expenses
Receivables $1.114M $984.5K $950.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.34M $7.794M $10.46M
YoY Change 45.49% -43.44% -8.69%
LONG-TERM ASSETS
Property, Plant & Equipment $430.7K $444.3K $471.1K
YoY Change -3.07% -27.16% -27.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $40.00K $140.0K $150.0K
YoY Change -71.43% -22.22% -21.05%
Total Long-Term Assets $468.8K $588.9K $625.5K
YoY Change -20.39% -26.39% -26.41%
TOTAL ASSETS
Total Short-Term Assets $11.34M $7.794M $10.46M
Total Long-Term Assets $468.8K $588.9K $625.5K
Total Assets $11.81M $8.383M $11.09M
YoY Change 40.86% -42.51% -9.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $799.8K $758.2K $404.1K
YoY Change 5.48% 18.47% -70.72%
Accrued Expenses $1.974M $1.747M $1.395M
YoY Change 13.03% -5.59% -25.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.087M $3.670M $3.065M
YoY Change 11.36% 26.1% -6.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $40.00K $170.0K
YoY Change -63.64% -10.53%
Total Long-Term Liabilities $0.00 $40.00K $170.0K
YoY Change -100.0% -63.64% -10.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.087M $3.670M $3.065M
Total Long-Term Liabilities $0.00 $40.00K $170.0K
Total Liabilities $4.087M $3.711M $3.237M
YoY Change 10.13% 23.09% -6.44%
SHAREHOLDERS EQUITY
Retained Earnings -$189.3M -$184.9M -$181.7M
YoY Change 2.35% 7.68%
Common Stock $736.00 $165.00 $874.00
YoY Change 346.06% -66.46% 99.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.722M $4.672M $7.852M
YoY Change
Total Liabilities & Shareholders Equity $11.81M $8.383M $11.09M
YoY Change 40.86% -42.5% -9.92%

Cashflow Statement

Concept 2018 Q2 2017 Q2 2017 Q1
OPERATING ACTIVITIES
Net Income $573.9K -$3.238M -$3.232M
YoY Change -117.73% -20.94% -21.07%
Depreciation, Depletion And Amortization $80.00K $70.00K $61.58K
YoY Change 14.29% 16.67% -0.1%
Cash From Operating Activities $1.120M -$3.260M -$3.350M
YoY Change -134.36% -22.01% -7.46%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$40.00K $0.00
YoY Change 150.0% 33.33% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$100.0K -$40.00K $0.00
YoY Change 150.0% 33.33% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 10.00K 6.300M
YoY Change -100.0% -99.85% -7975.0%
NET CHANGE
Cash From Operating Activities 1.120M -3.260M -3.350M
Cash From Investing Activities -100.0K -40.00K 0.000
Cash From Financing Activities 0.000 10.00K 6.300M
Net Change In Cash 1.020M -3.290M 2.950M
YoY Change -131.0% -227.03% -179.09%
FREE CASH FLOW
Cash From Operating Activities $1.120M -$3.260M -$3.350M
Capital Expenditures -$100.0K -$40.00K $0.00
Free Cash Flow $1.220M -$3.220M -$3.350M
YoY Change -137.89% -22.41% -8.19%

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CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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-191338054 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-189300000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-189300016 USD
CY2017Q2 us-gaap Revenues
Revenues
4310059 USD
us-gaap Revenues
Revenues
8616181 USD
CY2018Q2 us-gaap Revenues
Revenues
3751568 USD
us-gaap Revenues
Revenues
8694558 USD
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2919281 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5516993 USD
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2200852 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4705593 USD
us-gaap Share Based Compensation
ShareBasedCompensation
113635 USD
us-gaap Share Based Compensation
ShareBasedCompensation
371917 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
5017389 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
7721607 USD
CY2017Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.125
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1302231 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1152441 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13915153 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13820363 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1302231 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1152441 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7330479 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">Reclassifications</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified to conform to the current period presentation. </font></div></div>
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;">&#160;</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>

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0001628280-18-009424-index-headers.html Edgar Link pending
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0001628280-18-009424.txt Edgar Link pending
0001628280-18-009424-xbrl.zip Edgar Link pending
a10q6302018document.htm Edgar Link pending
a10q6302018ex311.htm Edgar Link pending
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