2013 Q4 Form 10-Q Financial Statement

#000158095713000019 Filed on November 19, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $348.3K $446.4K $1.311M
YoY Change -37.01% -65.94% 73.73%
Cost Of Revenue $164.2K $219.9K $503.5K
YoY Change -50.94% -56.32% 61.41%
Gross Profit $184.1K $226.5K $807.2K
YoY Change -15.63% -71.94% 82.42%
Gross Profit Margin 52.86% 50.74% 61.59%
Selling, General & Admin $380.0K $410.0K $470.0K
YoY Change -11.63% -12.77% -27.69%
% of Gross Profit 206.38% 181.01% 58.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $10.00K $10.00K
YoY Change 0.0% 0.0%
% of Gross Profit 0.0% 4.41% 1.24%
Operating Expenses $381.3K $418.7K $480.8K
YoY Change -12.89% -12.91% -27.77%
Operating Profit -$197.1K -$192.2K $326.4K
YoY Change -10.16% -158.88% -246.29%
Interest Expense $41.66K $36.71K $29.84K
YoY Change -38.98% 23.03% -64.36%
% of Operating Profit 9.14%
Other Income/Expense, Net $1.000K
YoY Change -98.52%
Pretax Income -$240.0K -$230.0K $170.0K
YoY Change 84.62% -235.29% -156.67%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$240.0K -$240.8K $97.99K
YoY Change 64.33% -345.77% -133.13%
Net Earnings / Revenue -68.89% -53.94% 7.48%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 52.50M shares 49.29M shares 44.97M shares
Diluted Shares Outstanding 46.84M

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $290.0K $80.00K
YoY Change -100.0% 262.5% 14.29%
Cash & Equivalents $4.435K $294.3K $81.85K
Short-Term Investments
Other Short-Term Assets $70.00K $40.00K $190.0K
YoY Change 75.0% -78.95% 171.43%
Inventory $150.0K $120.0K $150.0K
Prepaid Expenses $74.08K $39.59K $190.1K
Receivables $130.0K $130.0K $160.0K
Other Receivables $0.00 $0.00 $10.00K
Total Short-Term Assets $365.9K $590.7K $590.9K
YoY Change 2.52% -0.03% -17.93%
LONG-TERM ASSETS
Property, Plant & Equipment $24.14K $28.82K $47.53K
YoY Change -43.67% -39.37% -40.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.00K $20.00K $20.00K
YoY Change -33.33% 0.0% -33.33%
Total Long-Term Assets $47.51K $53.08K $69.00K
YoY Change -32.55% -23.07% -85.0%
TOTAL ASSETS
Total Short-Term Assets $365.9K $590.7K $590.9K
Total Long-Term Assets $47.51K $53.08K $69.00K
Total Assets $413.4K $643.8K $659.9K
YoY Change -3.26% -2.44% -44.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $560.0K $580.0K $520.0K
YoY Change 14.29% 11.54% 6.12%
Accrued Expenses $140.4K $137.3K $94.72K
YoY Change 33.29% 44.97% -56.94%
Deferred Revenue
YoY Change
Short-Term Debt $180.0K $160.0K $400.0K
YoY Change -59.09% -60.0% 14.29%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $971.9K $976.0K $1.474M
YoY Change -20.59% -33.81% 23.9%
LONG-TERM LIABILITIES
Long-Term Debt $640.0K $640.0K $30.00K
YoY Change 814.29% 2033.33%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $640.0K $640.0K $25.00K
YoY Change 814.29% 2460.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $971.9K $976.0K $1.474M
Total Long-Term Liabilities $640.0K $640.0K $25.00K
Total Liabilities $1.608M $1.612M $1.499M
YoY Change 24.25% 7.51% 26.0%
SHAREHOLDERS EQUITY
Retained Earnings -$37.97M -$37.73M -$36.81M
YoY Change 2.76% 2.49%
Common Stock $36.71M $36.71M $35.86M
YoY Change 1.84% 2.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.194M -$968.3K -$839.5K
YoY Change
Total Liabilities & Shareholders Equity $413.4K $643.8K $659.9K
YoY Change -3.26% -2.44% -44.08%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$240.0K -$240.8K $97.99K
YoY Change 64.33% -345.77% -133.13%
Depreciation, Depletion And Amortization $0.00 $10.00K $10.00K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$290.0K $20.00K $120.0K
YoY Change 141.67% -83.33% -192.31%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 $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 0.000 290.0K -60.00K
YoY Change -100.0% -583.33% -175.0%
NET CHANGE
Cash From Operating Activities -290.0K 20.00K 120.0K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 290.0K -60.00K
Net Change In Cash -290.0K 310.0K 60.00K
YoY Change 625.0% 416.67% -220.0%
FREE CASH FLOW
Cash From Operating Activities -$290.0K $20.00K $120.0K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$290.0K $20.00K $120.0K
YoY Change 141.67% -83.33% -192.31%

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us-gaap Income Taxes Paid
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us-gaap Increase Decrease In Prepaid Expense
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us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Interest Paid
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us-gaap Investment Income Interest
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CY2012Q3 us-gaap Investment Income Interest
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
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30000 USD
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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150259 USD
us-gaap Net Income Loss
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-519525 USD
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us-gaap Net Income Loss
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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us-gaap Payments To Acquire Property Plant And Equipment
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CY2013Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2013Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
CY2013Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2013Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2013Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2013Q3 us-gaap Preferred Stock Shares Outstanding
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CY2013Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2013Q3 us-gaap Preferred Stock Value
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CY2013Q1 us-gaap Preferred Stock Value
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us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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CY2013Q1 us-gaap Property Plant And Equipment Net
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us-gaap Sales Revenue Services Gross
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CY2012Q3 us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
2626 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
50740 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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us-gaap Restricted Stock Award Forfeitures
RestrictedStockAwardForfeitures
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CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
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CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Revenues
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800224 USD
CY2013Q3 us-gaap Revenues
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446438 USD
us-gaap Revenues
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1797984 USD
CY2012Q3 us-gaap Revenues
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us-gaap Salaries And Wages
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CY2013Q3 us-gaap Salaries And Wages
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us-gaap Salaries And Wages
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CY2012Q3 us-gaap Salaries And Wages
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CY2013Q3 us-gaap Sales And Excise Tax Payable Current
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us-gaap Sales Revenue Goods Gross
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CY2013Q3 us-gaap Sales Revenue Goods Gross
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us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
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CY2012Q3 us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
1292615 USD
us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
3314 USD
CY2013Q3 us-gaap Sales Revenue Services Gross
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2046 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
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StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
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us-gaap Stock Option Plan Expense
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us-gaap Stock Option Plan Expense
StockOptionPlanExpense
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us-gaap Share Based Compensation
ShareBasedCompensation
2275 USD
us-gaap Share Based Compensation
ShareBasedCompensation
95728 USD
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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us-gaap Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
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CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Stockholders Equity Other
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140926 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
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us-gaap Stock Issued During Period Value Issued For Services
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CY2013Q3 us-gaap Supplies
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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CY2012Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46841373 shares

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