2015 Q1 Form 10-Q Financial Statement

#000158095715000009 Filed on February 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2014 Q1
Revenue $560.0K $782.3K $707.1K
YoY Change -20.81% 124.59% 54.29%
Cost Of Revenue $290.0K $272.6K $350.0K
YoY Change -17.14% 66.01% 75.0%
Gross Profit $270.0K $509.7K $360.0K
YoY Change -25.0% 176.83% 56.52%
Gross Profit Margin 48.21% 65.15% 50.91%
Selling, General & Admin $510.0K $490.0K $480.0K
YoY Change 6.25% 28.95% 23.08%
% of Gross Profit 188.89% 96.13% 133.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0%
% of Gross Profit 3.7% 1.96% 2.78%
Operating Expenses $510.0K $498.6K $490.0K
YoY Change 4.08% 30.79% 25.64%
Operating Profit -$240.0K $11.07K -$130.0K
YoY Change 84.62% -105.61% -18.75%
Interest Expense -$90.00K $52.62K -$70.00K
YoY Change 28.57% 26.32% 16.67%
% of Operating Profit 475.43%
Other Income/Expense, Net $10.00K -$46.44K $0.00
YoY Change
Pretax Income -$320.0K -$40.00K -$200.0K
YoY Change 60.0% -83.33% -13.04%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$320.0K -$40.00K -$202.5K
YoY Change 58.05% -83.33% -22.2%
Net Earnings / Revenue -57.14% -5.11% -28.63%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 73.75M shares 72.13M shares 52.50M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 Q4 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $130.0K $20.00K $30.00K
YoY Change 333.33% -88.0%
Cash & Equivalents $130.2K $20.32K $27.86K
Short-Term Investments
Other Short-Term Assets $110.0K $50.00K $70.00K
YoY Change 57.14% -28.57% 16.67%
Inventory $250.0K $250.0K $190.0K
Prepaid Expenses $112.7K $48.03K $68.91K
Receivables $358.0K $330.0K $490.0K
Other Receivables $3.236K $0.00 $3.424K
Total Short-Term Assets $855.3K $646.3K $777.3K
YoY Change 10.03% 76.66% 55.67%
LONG-TERM ASSETS
Property, Plant & Equipment $25.85K $32.97K $19.46K
YoY Change 32.84% 36.58% -49.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.00K $20.00K $20.00K
YoY Change 0.0% 0.0% -33.33%
Total Long-Term Assets $47.05K $54.71K $41.50K
YoY Change 13.37% 15.16% -35.81%
TOTAL ASSETS
Total Short-Term Assets $855.3K $646.3K $777.3K
Total Long-Term Assets $47.05K $54.71K $41.50K
Total Assets $902.3K $701.0K $818.8K
YoY Change 10.2% 69.59% 45.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $310.0K $420.0K $470.0K
YoY Change -34.04% -25.0% 9.3%
Accrued Expenses $102.9K $131.9K $124.8K
YoY Change -17.49% -6.02% -8.51%
Deferred Revenue
YoY Change
Short-Term Debt $1.565M $1.150M $780.0K
YoY Change 100.7% 538.89% 110.81%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.169M $1.771M $1.485M
YoY Change 46.04% 82.23% 33.2%
LONG-TERM LIABILITIES
Long-Term Debt $407.1K $360.0K $550.0K
YoY Change -25.98% -43.75% 30.95%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $407.1K $356.6K $553.8K
YoY Change -26.49% -44.28% 31.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.169M $1.771M $1.485M
Total Long-Term Liabilities $407.1K $356.6K $553.8K
Total Liabilities $2.576M $2.128M $2.039M
YoY Change 26.34% 32.35% 32.65%
SHAREHOLDERS EQUITY
Retained Earnings -$39.62M -$39.29M -$38.17M
YoY Change 3.79% 3.49% 2.58%
Common Stock $37.92M $37.81M $36.92M
YoY Change 2.72% 2.99% 1.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.673M -$1.427M -$1.220M
YoY Change
Total Liabilities & Shareholders Equity $902.3K $701.0K $818.8K
YoY Change 10.2% 69.59% 45.19%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2014 Q1
OPERATING ACTIVITIES
Net Income -$320.0K -$40.00K -$202.5K
YoY Change 58.05% -83.33% -22.2%
Depreciation, Depletion And Amortization $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$390.0K -$90.00K -$590.0K
YoY Change -33.9% -68.97% 742.86%
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 500.0K 100.0K 620.0K
YoY Change -19.35% 121.43%
NET CHANGE
Cash From Operating Activities -390.0K -90.00K -590.0K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 500.0K 100.0K 620.0K
Net Change In Cash 110.0K 10.00K 30.00K
YoY Change 266.67% -103.45% -85.71%
FREE CASH FLOW
Cash From Operating Activities -$390.0K -$90.00K -$590.0K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$390.0K -$90.00K -$590.0K
YoY Change -33.9% -68.97% 742.86%

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