2014 Q1 Form 10-Q Financial Statement

#000158095714000010 Filed on February 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2012 Q4
Revenue $707.1K $348.3K $553.0K
YoY Change 54.29% -37.01% 49.96%
Cost Of Revenue $350.0K $164.2K $334.7K
YoY Change 75.0% -50.94% 79.04%
Gross Profit $360.0K $184.1K $218.2K
YoY Change 56.52% -15.63% 20.05%
Gross Profit Margin 50.91% 52.86% 39.47%
Selling, General & Admin $480.0K $380.0K $430.0K
YoY Change 23.08% -11.63% -28.33%
% of Gross Profit 133.33% 206.38% 197.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $0.00 $0.00
YoY Change 0.0% -100.0%
% of Gross Profit 2.78% 0.0% 0.0%
Operating Expenses $490.0K $381.3K $437.7K
YoY Change 25.64% -12.89% -28.03%
Operating Profit -$130.0K -$197.1K -$219.4K
YoY Change -18.75% -10.16% -48.53%
Interest Expense -$70.00K $41.66K $68.27K
YoY Change 16.67% -38.98% 757.35%
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$200.0K -$240.0K -$130.0K
YoY Change -13.04% 84.62% -69.77%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$202.5K -$240.0K -$146.0K
YoY Change -22.2% 64.33% -66.29%
Net Earnings / Revenue -28.63% -68.89% -26.41%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 52.50M shares 52.50M shares 47.97M
Diluted Shares Outstanding 48.21M

Balance Sheet

Concept 2014 Q1 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.00K $0.00 $40.00K
YoY Change -88.0% -100.0% 33.33%
Cash & Equivalents $27.86K $4.435K $35.10K
Short-Term Investments
Other Short-Term Assets $70.00K $70.00K $40.00K
YoY Change 16.67% 75.0% -55.56%
Inventory $190.0K $150.0K $140.0K
Prepaid Expenses $68.91K $74.08K $37.45K
Receivables $490.0K $130.0K $140.0K
Other Receivables $3.424K $0.00 $10.00K
Total Short-Term Assets $777.3K $365.9K $356.9K
YoY Change 55.67% 2.52% -60.35%
LONG-TERM ASSETS
Property, Plant & Equipment $19.46K $24.14K $42.86K
YoY Change -49.02% -43.67% -46.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.00K $20.00K $30.00K
YoY Change -33.33% -33.33% 0.0%
Total Long-Term Assets $41.50K $47.51K $70.44K
YoY Change -35.81% -32.55% -84.35%
TOTAL ASSETS
Total Short-Term Assets $777.3K $365.9K $356.9K
Total Long-Term Assets $41.50K $47.51K $70.44K
Total Assets $818.8K $413.4K $427.3K
YoY Change 45.19% -3.26% -68.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $470.0K $560.0K $490.0K
YoY Change 9.3% 14.29% 16.67%
Accrued Expenses $124.8K $140.4K $105.3K
YoY Change -8.51% 33.29% -87.0%
Deferred Revenue
YoY Change
Short-Term Debt $780.0K $180.0K $440.0K
YoY Change 110.81% -59.09% 57.14%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $1.485M $971.9K $1.224M
YoY Change 33.2% -20.59% -25.82%
LONG-TERM LIABILITIES
Long-Term Debt $550.0K $640.0K $70.00K
YoY Change 30.95% 814.29%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $553.8K $640.0K $70.00K
YoY Change 31.86% 814.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.485M $971.9K $1.224M
Total Long-Term Liabilities $553.8K $640.0K $70.00K
Total Liabilities $2.039M $1.608M $1.294M
YoY Change 32.65% 24.25% -21.58%
SHAREHOLDERS EQUITY
Retained Earnings -$38.17M -$37.97M -$36.95M
YoY Change 2.58% 2.76%
Common Stock $36.92M $36.71M $36.04M
YoY Change 1.99% 1.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.220M -$1.194M -$866.6K
YoY Change
Total Liabilities & Shareholders Equity $818.8K $413.4K $427.3K
YoY Change 45.19% -3.26% -68.35%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income -$202.5K -$240.0K -$146.0K
YoY Change -22.2% 64.33% -66.29%
Depreciation, Depletion And Amortization $10.00K $0.00 $0.00
YoY Change 0.0% -100.0%
Cash From Operating Activities -$590.0K -$290.0K -$120.0K
YoY Change 742.86% 141.67% -500.0%
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 620.0K 0.000 80.00K
YoY Change 121.43% -100.0% -214.29%
NET CHANGE
Cash From Operating Activities -590.0K -290.0K -120.0K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 620.0K 0.000 80.00K
Net Change In Cash 30.00K -290.0K -40.00K
YoY Change -85.71% 625.0% 0.0%
FREE CASH FLOW
Cash From Operating Activities -$590.0K -$290.0K -$120.0K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$590.0K -$290.0K -$120.0K
YoY Change 742.86% 141.67% -500.0%

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