2019 Q1 Form 10-Q Financial Statement

#000162828019004677 Filed on April 25, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $3.123M $4.943M
YoY Change -36.82% 14.79%
Cost Of Revenue $2.324M $2.955M
YoY Change -21.35% 9.55%
Gross Profit $798.7K $1.988M
YoY Change -59.82% 18.98%
Gross Profit Margin 25.58% 40.21%
Selling, General & Admin $3.645M $4.309M
YoY Change -15.41% 7.2%
% of Gross Profit 456.34% 216.77%
Research & Development $855.1K $1.280M
YoY Change -33.17% 41.66%
% of Gross Profit 107.06% 64.37%
Depreciation & Amortization $31.78K $55.44K
YoY Change -42.68% -9.96%
% of Gross Profit 3.98% 2.79%
Operating Expenses $4.500M $5.588M
YoY Change -19.48% 13.52%
Operating Profit -$3.701M -$3.601M
YoY Change 2.79% 8.64%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $20.00K $10.00K
YoY Change 100.0%
Pretax Income $2.050M $1.170M
YoY Change 75.21% -136.22%
Income Tax
% Of Pretax Income
Net Earnings $2.051M $1.166M
YoY Change 75.82% -136.08%
Net Earnings / Revenue 65.66% 23.59%
Basic Earnings Per Share $2.65 $0.18
Diluted Earnings Per Share $1.47 $0.08
COMMON SHARES
Basic Shares Outstanding 774.1K shares 6.346M shares
Diluted Shares Outstanding 1.397M shares 13.73M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.200M $6.100M
YoY Change 18.03% -11.59%
Cash & Equivalents $7.201M $6.100M
Short-Term Investments
Other Short-Term Assets $960.0K $950.0K
YoY Change 1.05% -33.1%
Inventory $2.494M $1.859M
Prepaid Expenses
Receivables $972.4K $1.589M
Other Receivables $0.00 $0.00
Total Short-Term Assets $11.63M $10.50M
YoY Change 10.78% 0.33%
LONG-TERM ASSETS
Property, Plant & Equipment $375.6K $431.7K
YoY Change -13.0% -8.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $30.00K $40.00K
YoY Change -25.0% -73.33%
Total Long-Term Assets $2.277M $474.8K
YoY Change 379.48% -24.09%
TOTAL ASSETS
Total Short-Term Assets $11.63M $10.50M
Total Long-Term Assets $2.277M $474.8K
Total Assets $13.91M $10.97M
YoY Change 26.74% -1.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $557.9K $384.1K
YoY Change 45.25% -4.95%
Accrued Expenses $3.036M $2.361M
YoY Change 28.59% 69.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.503M $4.150M
YoY Change 8.49% 35.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.210M
YoY Change
Total Long-Term Liabilities $1.210M $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.503M $4.150M
Total Long-Term Liabilities $1.210M $0.00
Total Liabilities $5.714M $4.150M
YoY Change 37.68% 28.22%
SHAREHOLDERS EQUITY
Retained Earnings -$189.0M -$189.9M
YoY Change -0.49% 4.51%
Common Stock $831.00 $714.00
YoY Change 16.39% -18.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.192M $6.823M
YoY Change
Total Liabilities & Shareholders Equity $13.91M $10.97M
YoY Change 26.74% -1.05%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $2.051M $1.166M
YoY Change 75.82% -136.08%
Depreciation, Depletion And Amortization $31.78K $55.44K
YoY Change -42.68% -9.96%
Cash From Operating Activities $420.4K $2.080M
YoY Change -79.79% -162.09%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $25.83K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$25.83K
YoY Change -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 $0.00 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities $420.4K $2.080M
Cash From Investing Activities $0.00 -$25.83K
Cash From Financing Activities $0.00 0.000
Net Change In Cash $420.4K $2.054M
YoY Change -79.54% -30.37%
FREE CASH FLOW
Cash From Operating Activities $420.4K $2.080M
Capital Expenditures $0.00 $25.83K
Free Cash Flow $420.4K $2.054M
YoY Change -79.54% -161.32%

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<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>
CY2019Q1 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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