2019 Q2 Form 10-Q Financial Statement

#000117184319005561 Filed on August 19, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $286.2K $358.6K $411.6K
YoY Change -20.2% 235.69% 134.97%
Cost Of Revenue $118.4K $109.0K $117.3K
YoY Change 8.64% 395.09% 217.21%
Gross Profit $167.8K $249.6K $294.3K
YoY Change -32.79% 194.32% 112.96%
Gross Profit Margin 58.63% 69.61% 71.49%
Selling, General & Admin $3.995M $1.284M $1.792M
YoY Change 211.26% -47.52% 40.09%
% of Gross Profit 2381.6% 514.23% 609.18%
Research & Development $94.01K
YoY Change 11.29%
% of Gross Profit 31.95%
Depreciation & Amortization $131.4K $18.83K $18.17K
YoY Change 598.11% 29.66% -2.19%
% of Gross Profit 78.34% 7.54% 6.17%
Operating Expenses $3.995M $1.284M $1.786M
YoY Change 211.26% -48.98% 30.93%
Operating Profit -$5.099M -$1.413M -$1.492M
YoY Change 260.88% -41.88% 21.68%
Interest Expense $6.160M -$960.0K
YoY Change -741.67%
% of Operating Profit
Other Income/Expense, Net -$819.3K
YoY Change
Pretax Income $1.470M -$2.370M -$1.760M
YoY Change -162.03% -6.69% 31.34%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings $1.465M -$2.373M -$1.760M
YoY Change -161.73% -6.56% 31.34%
Net Earnings / Revenue 512.0% -661.88% -427.61%
Basic Earnings Per Share $0.49 -$0.20
Diluted Earnings Per Share $0.24 -$0.20 -$1.544M
COMMON SHARES
Basic Shares Outstanding 2.961M 11.88M 11.38M
Diluted Shares Outstanding 6.007M 11.88M 11.38M

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.00K $1.000M $2.230M
YoY Change -93.0% -74.03% -53.35%
Cash & Equivalents $69.56K $1.004M $2.233M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $150.0K $280.0K $210.0K
YoY Change -46.43% 47.37% 31.25%
Inventory $320.9K $244.7K $272.6K
Prepaid Expenses
Receivables $299.0K $315.3K $241.8K
Other Receivables $250.0K $160.0K $170.0K
Total Short-Term Assets $1.094M $2.007M $3.123M
YoY Change -45.5% -53.63% -40.61%
LONG-TERM ASSETS
Property, Plant & Equipment $1.770M $184.4K $106.0K
YoY Change 859.85% 67.73% -5.94%
Goodwill $23.79M
YoY Change
Intangibles $4.592M $115.1K $115.7K
YoY Change 3888.11% 23.4% 21.58%
Long-Term Investments $581.7K $1.542M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $31.16M $1.994M $2.876M
YoY Change 1462.73% 881.03% 1283.72%
TOTAL ASSETS
Total Short-Term Assets $1.094M $2.007M $3.123M
Total Long-Term Assets $31.16M $1.994M $2.876M
Total Assets $32.25M $4.001M $5.999M
YoY Change 706.08% -11.72% 9.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.539M $165.6K $186.3K
YoY Change 2037.13% 188.35% 135.05%
Accrued Expenses $1.036M $455.3K $558.4K
YoY Change 127.42% -61.53% -53.58%
Deferred Revenue $29.71K $18.34K $38.86K
YoY Change 61.96%
Short-Term Debt $3.810M $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.456M $640.0K $780.0K
YoY Change 1377.47% -49.01% -39.84%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $500.0K
YoY Change
Total Long-Term Liabilities $500.0K $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.456M $640.0K $780.0K
Total Long-Term Liabilities $500.0K $0.00 $0.00
Total Liabilities $9.960M $639.3K $783.6K
YoY Change 1458.05% -52.03% -47.18%
SHAREHOLDERS EQUITY
Retained Earnings -$64.94M -$58.90M -$56.53M
YoY Change 10.25% 15.71% 16.88%
Common Stock $309.7K $120.9K $118.0K
YoY Change 156.22% 95.32% 81.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.29M $3.362M $5.216M
YoY Change
Total Liabilities & Shareholders Equity $32.25M $4.001M $5.999M
YoY Change 706.08% -11.72% 9.75%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $1.465M -$2.373M -$1.760M
YoY Change -161.73% -6.56% 31.34%
Depreciation, Depletion And Amortization $131.4K $18.83K $18.17K
YoY Change 598.11% 29.66% -2.19%
Cash From Operating Activities -$2.000M -$1.420M -$1.694M
YoY Change 40.85% 56.04% 46.54%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$100.0K $32.79K
YoY Change -90.0% 900.0% 21.9%
Acquisitions
YoY Change
Other Investing Activities $50.00K $0.00 $200.0K
YoY Change -108.66%
Cash From Investing Activities $40.00K -$110.0K $145.6K
YoY Change -136.36% 1000.0% -106.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.960M
YoY Change -22.42%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 890.0K 280.0K 3.015M
YoY Change 217.86% -20.96%
NET CHANGE
Cash From Operating Activities -2.000M -1.420M -1.694M
Cash From Investing Activities 40.00K -110.0K 145.6K
Cash From Financing Activities 890.0K 280.0K 3.015M
Net Change In Cash -1.070M -1.250M 1.467M
YoY Change -14.4% 35.87% 355.02%
FREE CASH FLOW
Cash From Operating Activities -$2.000M -$1.420M -$1.694M
Capital Expenditures -$10.00K -$100.0K $32.79K
Free Cash Flow -$1.990M -$1.320M -$1.727M
YoY Change 50.76% 46.67% 45.98%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Credit Risk </div></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high credit quality financial institutions and, by policy, generally limits the amount of credit exposure to any <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> financial institution. The Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> credit risk concentration for cash amounts held in a single institution that are in excess of amounts issued by the Federal Deposit Insurance Corporation.</div></div></div></div></div></div></div></div>
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