2013 Q3 Form 10-Q Financial Statement

#000158095713000003 Filed on August 19, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q2 2012 Q2
Revenue $446.4K $353.8K $487.4K
YoY Change -65.94% -27.41% -12.97%
Cost Of Revenue $219.9K $177.6K $254.2K
YoY Change -56.32% -30.13% -9.22%
Gross Profit $226.5K $176.2K $233.2K
YoY Change -71.94% -24.44% -19.59%
Gross Profit Margin 50.74% 49.8% 47.84%
Selling, General & Admin $410.0K $400.0K $480.0K
YoY Change -12.77% -16.67% -30.43%
% of Gross Profit 181.01% 227.04% 205.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $4.679K $4.679K
YoY Change 0.0% 0.0% -92.2%
% of Gross Profit 4.41% 2.66% 2.01%
Operating Expenses $418.7K $409.3K $489.1K
YoY Change -12.91% -16.31% -33.91%
Operating Profit -$192.2K -$233.1K -$255.9K
YoY Change -158.88% -8.91% -43.13%
Interest Expense $36.71K $28.77K $22.10K
YoY Change 23.03% 30.23% -114.73%
% of Operating Profit
Other Income/Expense, Net -$28.76K -$91.82K
YoY Change -68.67%
Pretax Income -$230.0K -$260.0K -$350.0K
YoY Change -235.29% -25.71% -41.67%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$240.8K -$278.7K -$355.8K
YoY Change -345.77% -21.67% -40.7%
Net Earnings / Revenue -53.94% -78.78% -73.01%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 49.29M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.0K $20.00K $20.00K
YoY Change 262.5% 0.0% -85.71%
Cash & Equivalents $294.3K $19.67K $24.68K
Short-Term Investments
Other Short-Term Assets $40.00K $80.00K $40.00K
YoY Change -78.95% 100.0% -77.78%
Inventory $120.0K $80.00K $110.0K
Prepaid Expenses $39.59K $44.20K
Receivables $130.0K $120.0K $270.0K
Other Receivables $0.00 $0.00 $10.00K
Total Short-Term Assets $590.7K $294.1K $460.0K
YoY Change -0.03% -36.08% -34.29%
LONG-TERM ASSETS
Property, Plant & Equipment $28.82K $33.50K $40.00K
YoY Change -39.37% -16.26% -55.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.00K $30.00K $20.00K
YoY Change 0.0% 50.0% -33.33%
Total Long-Term Assets $53.08K $58.87K $70.00K
YoY Change -23.07% -15.91% -85.71%
TOTAL ASSETS
Total Short-Term Assets $590.7K $294.1K $460.0K
Total Long-Term Assets $53.08K $58.87K $70.00K
Total Assets $643.8K $352.9K $530.0K
YoY Change -2.44% -33.41% -55.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $580.0K $410.0K $580.0K
YoY Change 11.54% -29.31% 34.88%
Accrued Expenses $137.3K $123.2K $140.0K
YoY Change 44.97% -11.98% -12.5%
Deferred Revenue
YoY Change
Short-Term Debt $160.0K $420.0K $470.0K
YoY Change -60.0% -10.64% 88.0%
Long-Term Debt Due $190.0K
YoY Change
Total Short-Term Liabilities $976.0K $1.344M $1.500M
YoY Change -33.81% -10.41% 47.06%
LONG-TERM LIABILITIES
Long-Term Debt $640.0K $190.0K $30.00K
YoY Change 2033.33% 533.33%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $640.0K $190.0K $30.00K
YoY Change 2460.0% 533.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $976.0K $1.344M $1.500M
Total Long-Term Liabilities $640.0K $190.0K $30.00K
Total Liabilities $1.612M $1.530M $1.530M
YoY Change 7.51% 0.02% 50.0%
SHAREHOLDERS EQUITY
Retained Earnings -$37.73M -$37.49M
YoY Change 2.49%
Common Stock $36.71M $36.26M
YoY Change 2.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$968.3K -$1.177M -$1.000M
YoY Change
Total Liabilities & Shareholders Equity $643.8K $352.9K $530.0K
YoY Change -2.44% -33.41% -55.46%

Cashflow Statement

Concept 2013 Q3 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$240.8K -$278.7K -$355.8K
YoY Change -345.77% -21.67% -40.7%
Depreciation, Depletion And Amortization $10.00K $4.679K $4.679K
YoY Change 0.0% 0.0% -92.2%
Cash From Operating Activities $20.00K -$258.1K $32.20K
YoY Change -83.33% -901.68% -146.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 290.0K -$33.47K -$16.75K
YoY Change -583.33% 99.83%
NET CHANGE
Cash From Operating Activities 20.00K -$258.1K $32.20K
Cash From Investing Activities 0.000
Cash From Financing Activities 290.0K -$33.47K -$16.75K
Net Change In Cash 310.0K -$291.6K $15.45K
YoY Change 416.67% -1987.53% -122.07%
FREE CASH FLOW
Cash From Operating Activities $20.00K -$258.1K $32.20K
Capital Expenditures $0.00
Free Cash Flow $20.00K -$258.1K $32.20K
YoY Change -83.33% -901.68% -146.0%

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796690 USD
CY2011Q1 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
3000 USD
CY2011Q3 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
7100 USD
CY2013Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
33472 USD
CY2012Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16750 USD
CY2013Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
USD
CY2012Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
USD
CY2013Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-258132 USD
CY2012Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
32199 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-278707 USD
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-355818 USD
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-283677 USD
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-362369 USD
CY2013Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
208467 USD
CY2013Q1 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
408129 USD
CY2013Q2 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
25000 USD
CY2013Q1 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
25000 USD
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
409292 USD
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
489084 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-233108 USD
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-255908 USD
CY2013Q2 us-gaap Other Assets
OtherAssets
25368 USD
CY2013Q1 us-gaap Other Assets
OtherAssets
26478 USD
CY2013Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
-4970 USD
CY2012Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
-6551 USD
CY2013Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-424 USD
CY2013Q2 us-gaap Other Income
OtherIncome
USD
CY2012Q2 us-gaap Other Income
OtherIncome
7504 USD
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-28763 USD
CY2012Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-91818 USD
CY2013Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
5706 USD
CY2013Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
13610 USD
CY2013Q2 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
20844 USD
CY2012Q2 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
11907 USD
CY2013Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
USD
CY2012Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
USD
CY2013Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
CY2013Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
CY2013Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2013Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2013Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q2 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2013Q1 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2013Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
44200 USD
CY2013Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
34838 USD
CY2013Q2 us-gaap Prepaid Insurance
PrepaidInsurance
3500 USD
CY2013Q1 us-gaap Prepaid Insurance
PrepaidInsurance
5440 USD
CY2013Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsOwned
17997 USD
CY2013Q1 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsOwned
19107 USD
CY2013Q2 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
225000 USD
CY2012Q2 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
158250 USD
CY2013Q2 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-221528 USD
CY2012Q2 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-175000 USD
CY2013Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
127355 USD
CY2013Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
127355 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
33498 USD
CY2013Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
38177 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-37487678 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-37208971 USD
CY2013Q2 us-gaap Revenues
Revenues
353787 USD
CY2012Q2 us-gaap Revenues
Revenues
487368 USD
CY2013Q2 us-gaap Salaries And Wages
SalariesAndWages
149543 USD
CY2012Q2 us-gaap Salaries And Wages
SalariesAndWages
308350 USD
CY2013Q2 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
5690 USD
CY2013Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1230 USD
CY2013Q2 us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
326182 USD
CY2012Q2 us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
358799 USD
CY2013Q2 us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
1268 USD
CY2012Q2 us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
107518 USD
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4117109 shares
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
-1177434 USD
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
-973031 USD
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
16535 USD
CY2012Q2 us-gaap Share Based Compensation
ShareBasedCompensation
57124 USD
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2762824 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3337109 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
13411621 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
13097336 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
27166655 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
27166655 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3802824 shares
CY2013Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
9952210 shares
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
9952210 shares
CY2013Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
15000 USD
CY2013Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
1535 USD
CY2013Q2 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
13193 USD
CY2012Q2 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
26779 USD
CY2013Q2 us-gaap Supplies
Supplies
32130 USD
CY2013Q1 us-gaap Supplies
Supplies
2341 USD
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
49293845 shares
CY2012Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45284144 shares

Files In Submission

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0001580957-13-000003.txt Edgar Link pending
0001580957-13-000003-xbrl.zip Edgar Link pending
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