2018 Q2 Form 10-Q Financial Statement
#000074621018000026 Filed on May 09, 2018
Income Statement
Concept | 2018 Q2 | 2018 Q1 | 2017 Q1 |
---|---|---|---|
Revenue | $3.293M | $3.474M | $4.080M |
YoY Change | -14.6% | -14.85% | -26.06% |
Cost Of Revenue | $1.930M | $2.150M | $2.450M |
YoY Change | -14.6% | -12.24% | -29.19% |
Gross Profit | $1.360M | $1.330M | $1.630M |
YoY Change | -15.0% | -18.4% | -20.87% |
Gross Profit Margin | 41.3% | 38.28% | 39.95% |
Selling, General & Admin | $1.107M | $1.075M | $1.156M |
YoY Change | 8.32% | -7.01% | -23.95% |
% of Gross Profit | 81.4% | 80.83% | 70.92% |
Research & Development | $225.0K | $250.0K | $287.0K |
YoY Change | -22.95% | -12.89% | 0.0% |
% of Gross Profit | 16.54% | 18.8% | 17.61% |
Depreciation & Amortization | $190.0K | $232.0K | $459.0K |
YoY Change | -58.7% | -49.46% | -16.09% |
% of Gross Profit | 13.97% | 17.44% | 28.16% |
Operating Expenses | $1.332M | $1.325M | $1.443M |
YoY Change | 1.37% | -8.18% | -20.14% |
Operating Profit | -$1.679M | -$880.0K | -$270.0K |
YoY Change | 837.99% | 225.93% | -8.47% |
Interest Expense | -$10.00K | -$410.0K | -$370.0K |
YoY Change | -97.14% | 10.81% | -2.63% |
% of Operating Profit | |||
Other Income/Expense, Net | -$10.00K | -$405.0K | -$371.0K |
YoY Change | -97.4% | 9.16% | -2.37% |
Pretax Income | -$1.689M | -$1.285M | -$641.0K |
YoY Change | 200.0% | 100.47% | -5.04% |
Income Tax | $0.00 | $0.00 | $27.00K |
% Of Pretax Income | |||
Net Earnings | -$1.689M | -$1.285M | -$668.0K |
YoY Change | 186.27% | 92.37% | -6.18% |
Net Earnings / Revenue | -51.29% | -36.99% | -16.37% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$356.5K | -$279.2K | -$185.1K |
COMMON SHARES | |||
Basic Shares Outstanding | 46.48M shares | 45.89M shares | 36.53M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2018 Q2 | 2018 Q1 | 2017 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $2.700M | $3.100M | $1.100M |
YoY Change | 145.45% | 181.82% | -45.0% |
Cash & Equivalents | $2.678M | $3.068M | |
Short-Term Investments | |||
Other Short-Term Assets | $500.0K | $700.0K | $1.000M |
YoY Change | -44.44% | -30.0% | 100.0% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $1.473M | $1.295M | $1.642M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $4.698M | $5.059M | $3.788M |
YoY Change | 25.99% | 33.55% | -28.42% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.027M | $1.007M | $1.997M |
YoY Change | -42.08% | -49.57% | -26.98% |
Goodwill | $5.575M | $7.100M | $9.225M |
YoY Change | -39.57% | -23.04% | -6.11% |
Intangibles | $562.0K | $594.0K | $1.092M |
YoY Change | -35.77% | -45.6% | -44.31% |
Long-Term Investments | |||
YoY Change | |||
Other Assets | $8.000K | $8.000K | $10.00K |
YoY Change | -20.0% | -20.0% | -23.08% |
Total Long-Term Assets | $7.172M | $8.709M | $12.32M |
YoY Change | -39.64% | -29.33% | -15.21% |
TOTAL ASSETS | |||
Total Short-Term Assets | $4.698M | $5.059M | $3.788M |
Total Long-Term Assets | $7.172M | $8.709M | $12.32M |
Total Assets | $11.87M | $13.77M | $16.11M |
YoY Change | -23.97% | -14.55% | -18.73% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $303.0K | $309.0K | $156.0K |
YoY Change | 172.97% | 98.08% | -63.12% |
Accrued Expenses | $447.0K | $714.0K | $1.222M |
YoY Change | -62.21% | -41.57% | -13.58% |
Deferred Revenue | $60.00K | ||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Long-Term Debt Due | $0.00 | $0.00 | $10.68M |
YoY Change | -100.0% | -100.0% | 2569.5% |
Total Short-Term Liabilities | $954.0K | $1.270M | $12.45M |
YoY Change | -92.3% | -89.8% | 325.5% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $954.0K | $1.270M | $12.45M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $954.0K | $1.270M | $12.70M |
YoY Change | -92.48% | -90.0% | -8.46% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$173.5M | -$171.8M | -$177.0M |
YoY Change | -2.29% | -2.92% | 2.01% |
Common Stock | $184.8M | $184.7M | $180.5M |
YoY Change | 2.32% | 2.32% | 0.54% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $404.0K | $405.0K | $231.0K |
YoY Change | 74.89% | 75.32% | 5.48% |
Treasury Stock Shares | 833.0K shares | 833.0K shares | 247.0K shares |
Shareholders Equity | $10.92M | $12.50M | $3.409M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $11.87M | $13.77M | $16.11M |
YoY Change | -23.97% | -14.55% | -18.73% |
Cashflow Statement
Concept | 2018 Q2 | 2018 Q1 | 2017 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.689M | -$1.285M | -$668.0K |
YoY Change | 186.27% | 92.37% | -6.18% |
Depreciation, Depletion And Amortization | $190.0K | $232.0K | $459.0K |
YoY Change | -58.7% | -49.46% | -16.09% |
Cash From Operating Activities | -$220.0K | -$472.0K | $18.00K |
YoY Change | -2300.0% | -2722.22% | -95.0% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$170.0K | $48.00K | $36.00K |
YoY Change | 750.0% | 33.33% | -53.85% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$170.0K | -$48.00K | -$36.00K |
YoY Change | 750.0% | 33.33% | -53.85% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $53.00K | $12.00K | |
YoY Change | 341.67% | -7.69% | |
Debt Paid & Issued, Net | $1.832M | $0.00 | |
YoY Change | |||
Cash From Financing Activities | 0.000 | -$358.0K | -$12.00K |
YoY Change | 2883.33% | -7.69% | |
NET CHANGE | |||
Cash From Operating Activities | -220.0K | -$472.0K | $18.00K |
Cash From Investing Activities | -170.0K | -$48.00K | -$36.00K |
Cash From Financing Activities | 0.000 | -$358.0K | -$12.00K |
Net Change In Cash | -390.0K | -$878.0K | -$30.00K |
YoY Change | 3800.0% | 2826.67% | -67.03% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$220.0K | -$472.0K | $18.00K |
Capital Expenditures | -$170.0K | $48.00K | $36.00K |
Free Cash Flow | -$50.00K | -$520.0K | -$18.00K |
YoY Change | -266.67% | 2788.89% | -106.38% |
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CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-12000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-358000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-36000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-48000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
18000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-472000 | USD |
CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-668000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1285000 | USD |
CY2017Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-671000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1288000 | USD |
CY2017Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-371000 | USD |
CY2018Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-405000 | USD |
CY2018Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-270000 | USD |
CY2018Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-880000 | USD |
CY2018Q1 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
342000 | USD |
CY2018Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
23000 | USD |
CY2018Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
88000 | USD |
CY2018Q1 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
231000 | USD |
CY2017Q1 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
74000 | USD |
CY2018Q1 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
77000 | USD |
CY2017Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
316000 | USD |
CY2018Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
264000 | USD |
CY2017Q1 | us-gaap |
Other Asset Impairment Charges
OtherAssetImpairmentCharges
|
0 | USD |
CY2018Q1 | us-gaap |
Other Asset Impairment Charges
OtherAssetImpairmentCharges
|
650000 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
8000 | USD |
CY2018Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
8000 | USD |
CY2017Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
12000 | USD |
CY2018Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
53000 | USD |
CY2017Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
36000 | USD |
CY2018Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
48000 | USD |
CY2017Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3000 | USD |
CY2018Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3000 | USD |
CY2018Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
CY2017Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
715000 | USD |
CY2018Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
696000 | USD |
CY2017Q1 | us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
0 | USD |
CY2018Q1 | us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
1527000 | USD |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1159000 | USD |
CY2018Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1007000 | USD |
CY2018Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
5000 | USD |
CY2017Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | USD |
CY2018Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
1832000 | USD |
CY2017Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
287000 | USD |
CY2018Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
250000 | USD |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-170505000 | USD |
CY2018Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-171790000 | USD |
CY2017Q1 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
4080000 | USD |
CY2018Q1 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
3474000 | USD |
CY2017Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
140000 | USD |
CY2018Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
177000 | USD |
CY2017Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
164000 | USD |
CY2018Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
50000 | USD |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1202000 | shares |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1192000 | shares |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
1.99 | |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
1.99 | |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
1000 | shares |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
2.30 | |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
9000 | shares |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | shares |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1202000 | shares |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1192000 | shares |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
1.99 | |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
1.99 | |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
1.61 | |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
0 | USD |
CY2018Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
1527000 | USD |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
0 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
12262000 | USD |
CY2018Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
12498000 | USD |
CY2017Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
651000 | shares |
CY2018Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
833000 | shares |
CY2017Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
352000 | USD |
CY2018Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
405000 | USD |
CY2018Q1 | us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
53000 | USD |
CY2017Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
36181000 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
46232000 | shares |