2017 Q3 Form 10-Q Financial Statement

#000119312517253552 Filed on August 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $0.00 $0.00 $9.000K
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $990.0K $1.100M $890.0K
YoY Change 32.0% 23.6% 11.25%
% of Gross Profit
Research & Development $1.490M $1.329M $1.339M
YoY Change 1.78% -0.75% -1.62%
% of Gross Profit
Depreciation & Amortization $20.00K $20.00K $20.00K
YoY Change 100.0% 0.0% 0.0%
% of Gross Profit
Operating Expenses $2.476M $2.514M $2.224M
YoY Change 11.73% 13.04% 2.73%
Operating Profit -$2.476M -$2.514M -$2.215M
YoY Change 11.73% 13.5% 2.31%
Interest Expense $0.00 $0.00 $4.000K
YoY Change -100.0% -100.0% 300.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $3.000K
YoY Change -100.0% -100.0% -400.0%
Pretax Income -$2.480M -$2.510M -$2.210M
YoY Change 12.22% 13.57% 1.84%
Income Tax
% Of Pretax Income
Net Earnings -$2.476M -$2.514M -$2.212M
YoY Change 11.93% 13.65% 2.12%
Net Earnings / Revenue -24577.78%
Basic Earnings Per Share
Diluted Earnings Per Share -$62.00M -$62.75M -$221.0M
COMMON SHARES
Basic Shares Outstanding 23.25M shares 22.13M shares 6.535M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.420M $7.700M $5.830M
YoY Change 23.74% 32.08% -58.33%
Cash & Equivalents $5.416M $7.702M $3.832M
Short-Term Investments $2.000M
Other Short-Term Assets $320.0K $390.0K $530.0K
YoY Change -13.51% -26.42% -31.17%
Inventory
Prepaid Expenses $271.0K $337.0K $477.0K
Receivables
Other Receivables
Total Short-Term Assets $5.737M $8.089M $6.359M
YoY Change 20.78% 27.21% -56.9%
LONG-TERM ASSETS
Property, Plant & Equipment $269.0K $275.0K $135.0K
YoY Change 116.94% 103.7% -25.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.00K $27.00K $27.00K
YoY Change 0.0% 0.0% 50.0%
Total Long-Term Assets $296.0K $302.0K $162.0K
YoY Change 96.03% 86.42% -18.59%
TOTAL ASSETS
Total Short-Term Assets $5.737M $8.089M $6.359M
Total Long-Term Assets $296.0K $302.0K $162.0K
Total Assets $6.033M $8.391M $6.521M
YoY Change 23.1% 28.68% -56.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $702.0K $741.0K $297.0K
YoY Change 53.61% 149.49% -53.23%
Accrued Expenses $1.901M $1.713M $1.256M
YoY Change 35.01% 36.39% 5.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.603M $2.454M $1.553M
YoY Change 39.57% 58.02% -14.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.603M $2.454M $1.553M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.600M $2.450M $1.550M
YoY Change 39.04% 58.06% -14.84%
SHAREHOLDERS EQUITY
Retained Earnings -$76.55M -$74.07M -$61.55M
YoY Change 20.06% 20.35% 18.38%
Common Stock $2.000K $2.000K $1.000K
YoY Change 100.0% 100.0% -83.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.430M $5.937M $4.968M
YoY Change
Total Liabilities & Shareholders Equity $6.033M $8.391M $6.521M
YoY Change 23.1% 28.68% -56.39%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$2.476M -$2.514M -$2.212M
YoY Change 11.93% 13.65% 2.12%
Depreciation, Depletion And Amortization $20.00K $20.00K $20.00K
YoY Change 100.0% 0.0% 0.0%
Cash From Operating Activities -$2.190M -$2.320M -$1.860M
YoY Change 36.88% 24.73% 3.33%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$190.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $1.500M
YoY Change -100.0% -118.75%
Cash From Investing Activities -$10.00K -$190.0K $1.500M
YoY Change -112.67% -118.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -70.00K 0.000
YoY Change -146.67% -100.0%
NET CHANGE
Cash From Operating Activities -2.190M -2.320M -1.860M
Cash From Investing Activities -10.00K -190.0K 1.500M
Cash From Financing Activities -70.00K 0.000
Net Change In Cash -2.270M -2.510M -360.0K
YoY Change 56.55% 597.22% -38.98%
FREE CASH FLOW
Cash From Operating Activities -$2.190M -$2.320M -$1.860M
Capital Expenditures -$10.00K -$190.0K
Free Cash Flow -$2.180M -$2.130M
YoY Change 36.25%

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CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1339000
CY2016Q2 us-gaap Revenues
Revenues
9000
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
227000
CY2016Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
0 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6534846 shares
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1100000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
2514000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-2514000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-2514000
CY2017Q2 us-gaap Research And Development Asset Acquired Other Than Through Business Combination Written Off
ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff
85000
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1329000
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
119000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.1518 pure
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8299 pure
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0173 pure
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.47
CY2017Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
0 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.8551 pure
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
22000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0225 pure
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22388360 shares

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