2014 Q1 Form 10-Q Financial Statement

#000117891314000395 Filed on February 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2012 Q4
Revenue $95.00K $95.00K $195.0K
YoY Change -51.03% -51.28% 84315.58%
Cost Of Revenue $3.000K $3.000K $6.000K
YoY Change -50.0% -50.0% 85614.29%
Gross Profit $92.00K $92.00K $189.0K
YoY Change -51.06% -51.32% 84275.0%
Gross Profit Margin 96.84% 96.84% 96.92%
Selling, General & Admin $2.530M $1.980M $1.420M
YoY Change 118.1% 39.44% 10.94%
% of Gross Profit 2750.0% 2152.17% 751.32%
Research & Development $6.885M $6.107M $4.146M
YoY Change 38.67% 47.3% 139542.98%
% of Gross Profit 7483.7% 6638.04% 2193.65%
Depreciation & Amortization $480.0K $480.0K $150.0K
YoY Change 54.84% 220.0% 50.0%
% of Gross Profit 521.74% 521.74% 79.37%
Operating Expenses $6.885M $6.107M $4.146M
YoY Change 38.67% 47.3% 76.5%
Operating Profit -$9.287M -$6.990M -$4.884M
YoY Change 56.53% 43.12% 230494.9%
Interest Expense $10.00K $290.0K $390.0K
YoY Change -96.0% -25.64% 200.0%
% of Operating Profit
Other Income/Expense, Net $11.00K $285.0K $394.0K
YoY Change -95.65% -27.66%
Pretax Income -$9.280M -$6.710M -$4.490M
YoY Change 63.38% 49.44% 125.63%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$9.276M -$6.705M -$4.490M
YoY Change 63.31% 49.33% 225301.61%
Net Earnings / Revenue -9764.21% -7057.89% -2302.56%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.41 -$1.09 -$0.78
COMMON SHARES
Basic Shares Outstanding 64.66M shares 59.88M shares 57.40M
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.12M $56.75M $64.57M
YoY Change 0.48% -12.11% 55.52%
Cash & Equivalents $3.638M $4.626M $23.55M
Short-Term Investments $56.48M $52.12M $41.03M
Other Short-Term Assets $876.0K $1.198M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $64.71M $58.40M $66.27K
YoY Change 5.89% 88023.19% -99.85%
LONG-TERM ASSETS
Property, Plant & Equipment $11.13M $11.45M $10.03K
YoY Change -3.27% 114093.1% -99.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $320.0K $320.0K $760.0K
YoY Change -59.49% -57.89% -36.13%
Other Assets $18.00K $26.00K $1.305K
YoY Change -84.07% 1892.34% -99.9%
Total Long-Term Assets $12.68M $12.93M $12.85K
YoY Change -4.14% 100514.88% -99.78%
TOTAL ASSETS
Total Short-Term Assets $64.71M $58.40M $66.27K
Total Long-Term Assets $12.68M $12.93M $12.85K
Total Assets $77.39M $71.33M $79.12K
YoY Change 4.1% 90051.67% -99.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.696M $2.711M $3.397K
YoY Change 4.62% 79705.71% -99.71%
Accrued Expenses $1.155M $902.0K $426.00
YoY Change 48.08% 211637.09% -99.82%
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 $6.442M $5.579M $6.126K
YoY Change 11.74% 90970.85% -99.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $611.0K $633.0K $3.950M
YoY Change -13.82% -83.97% -8.35%
Total Long-Term Liabilities $4.988M $4.915M $3.950K
YoY Change 9.55% 124330.38% -99.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.442M $5.579M $6.126K
Total Long-Term Liabilities $4.988M $4.915M $3.950K
Total Liabilities $11.43M $10.49M $10.08K
YoY Change 10.78% 104048.47% -99.89%
SHAREHOLDERS EQUITY
Retained Earnings -$107.6M -$98.36M -$74.23K
YoY Change 34.7% 132406.2% -99.87%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $65.96M $60.83M $69.04M
YoY Change
Total Liabilities & Shareholders Equity $77.39M $71.33M $79.12K
YoY Change 4.1% 90051.67% -99.84%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income -$9.276M -$6.705M -$4.490M
YoY Change 63.31% 49.33% 225301.61%
Depreciation, Depletion And Amortization $480.0K $480.0K $150.0K
YoY Change 54.84% 220.0% 50.0%
Cash From Operating Activities -$5.660M -$3.010M -$3.370M
YoY Change 13.65% -10.68% 2.43%
INVESTING ACTIVITIES
Capital Expenditures $270.0K $710.0K $1.360M
YoY Change -400.0% -47.79% 65.85%
Acquisitions
YoY Change
Other Investing Activities -$5.910M -$920.0K -$10.93M
YoY Change -164.59% -91.58% 271.77%
Cash From Investing Activities -$6.170M -$1.630M -$12.29M
YoY Change -166.77% -86.74% 227.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.84M 670.0K 450.0K
YoY Change 36033.33% 48.89% 462.5%
NET CHANGE
Cash From Operating Activities -5.660M -3.010M -3.370M
Cash From Investing Activities -6.170M -1.630M -12.29M
Cash From Financing Activities 10.84M 670.0K 450.0K
Net Change In Cash -990.0K -3.970M -15.21M
YoY Change -123.08% -73.9% 118.53%
FREE CASH FLOW
Cash From Operating Activities -$5.660M -$3.010M -$3.370M
Capital Expenditures $270.0K $710.0K $1.360M
Free Cash Flow -$5.930M -$3.720M -$4.730M
YoY Change 21.27% -21.35% 15.09%

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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1179000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
35944000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
2547000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-6890000 USD
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Noncash Or Part Noncash Acquisition Investments Acquired1
NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
10414000 USD
us-gaap Noncash Or Part Noncash Acquisition Investments Acquired1
NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
390000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
589000 USD
CY2013Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
285000 USD
CY2012Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
394000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-6990000 USD
CY2012Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1198000 USD
CY2013Q2 us-gaap Other Assets Current
OtherAssetsCurrent
872000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1838000 USD
us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
-3000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
26000 USD
CY2013Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
39000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
899000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
494000 USD
CY2013Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
504000 USD
CY2012Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
265000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
165000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
USD
CY2013Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
23000 USD
CY2012Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
36000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
USD
CY2013Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
36000 USD
CY2012Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1028000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
494000 USD
CY2013Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
491000 USD
CY2012Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
265000 USD
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
633000 USD
CY2013Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
680000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2694000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
7904000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
2204000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1169000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3338000 USD
CY2013Q4 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
1246000 USD
CY2013Q2 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
1023000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
34106000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1179000 USD
us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
521000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
7961000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
583000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
304000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
2963000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
459000 USD
us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
116000 USD
us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
9000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11449000 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11866000 USD
us-gaap Reimbursement From Limited Partnership Investment
ReimbursementFromLimitedPartnershipInvestment
10000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11604000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7894000 USD
CY2013Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6107000 USD
CY2012Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4146000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
456000 USD
CY2013Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
316000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-98362000 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-86902000 USD
us-gaap Revenues
Revenues
190000 USD
us-gaap Revenues
Revenues
390000 USD
CY2013Q4 us-gaap Revenues
Revenues
95000 USD
CY2012Q4 us-gaap Revenues
Revenues
195000 USD
CY2013Q4 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
13844000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
1500 shares
CY2013Q4 us-gaap Short Term Investments
ShortTermInvestments
23345000 USD
CY2013Q2 us-gaap Short Term Investments
ShortTermInvestments
31449000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
60834000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
57466000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
37742000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
69044000 USD
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
USD
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
-278000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-2336000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-1962000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
146000 USD
us-gaap Use Of Estimates
UseOfEstimates
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <div style="DISPLAY: block; TEXT-INDENT: 0pt"> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 16.9pt">&nbsp;</td> <td style="WIDTH: 18pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> c.</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-WEIGHT: bold; text-align: left"> Use of estimates</div> </td> </tr> </table> </div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <!--EndFragment--></div> </div>
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
60379352 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52659430 shares
CY2013Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
61510550 shares
CY2012Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
57512930 shares

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