2017 Q2 Form 10-Q Financial Statement
#000104396117000009 Filed on May 18, 2017
Income Statement
Concept | 2017 Q2 | 2017 Q1 | 2016 Q1 |
---|---|---|---|
Revenue | $316.0K | $658.0K | $236.0K |
YoY Change | -48.62% | 178.81% | -68.53% |
Cost Of Revenue | $284.0K | $459.0K | $505.0K |
YoY Change | 17.84% | -9.11% | 8.6% |
Gross Profit | -$24.00K | $199.0K | -$269.0K |
YoY Change | -109.13% | -173.98% | -194.39% |
Gross Profit Margin | -7.59% | 30.24% | -113.98% |
Selling, General & Admin | $1.620M | $1.704M | |
YoY Change | -4.93% | -5.54% | |
% of Gross Profit | 814.07% | ||
Research & Development | $134.0K | $270.0K | |
YoY Change | -50.37% | -40.13% | |
% of Gross Profit | 67.34% | ||
Depreciation & Amortization | $100.0K | $48.00K | $83.00K |
YoY Change | 0.0% | -42.17% | 102.44% |
% of Gross Profit | 24.12% | ||
Operating Expenses | $777.0K | $1.754M | $1.974M |
YoY Change | 41.79% | -11.14% | -12.46% |
Operating Profit | -$801.0K | -$1.555M | -$2.243M |
YoY Change | 181.05% | -30.67% | 13.86% |
Interest Expense | -$220.0K | -$160.0K | -$80.00K |
YoY Change | 37.5% | 100.0% | -76.47% |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Pretax Income | -$3.680M | -$1.835M | -$2.091M |
YoY Change | 728.83% | -12.24% | -9.79% |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$3.680M | -$1.762M | -$3.264M |
YoY Change | 728.83% | -46.02% | 7.33% |
Net Earnings / Revenue | -1164.56% | -267.78% | -1383.05% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$92.00M | -$19.00M | -$10.33M |
COMMON SHARES | |||
Basic Shares Outstanding | 26.86M shares | 26.87M shares | 20.70M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2017 Q2 | 2017 Q1 | 2016 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $970.0K | $60.00K | $220.0K |
YoY Change | 130.95% | -72.73% | -95.91% |
Cash & Equivalents | $967.0K | $59.00K | $222.0K |
Short-Term Investments | |||
Other Short-Term Assets | $154.0K | $190.0K | $503.0K |
YoY Change | -52.62% | -62.23% | -66.99% |
Inventory | $108.0K | $15.00K | $44.00K |
Prepaid Expenses | $100.0K | $100.0K | $200.0K |
Receivables | $569.0K | $279.0K | $170.0K |
Other Receivables | $100.0K | $100.0K | $100.0K |
Total Short-Term Assets | $1.798M | $567.0K | $2.121M |
YoY Change | -0.28% | -73.27% | -88.37% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $262.0K | $127.0K | $237.0K |
YoY Change | 28.43% | -46.41% | -81.7% |
Goodwill | $13.83M | ||
YoY Change | |||
Intangibles | $21.10M | $531.0K | $1.146M |
YoY Change | 1950.53% | -53.66% | -85.41% |
Long-Term Investments | |||
YoY Change | |||
Other Assets | $18.00K | $4.000K | $88.00K |
YoY Change | -68.97% | -95.45% | -54.17% |
Total Long-Term Assets | $35.21M | $662.0K | $1.471M |
YoY Change | 2627.5% | -55.0% | -90.95% |
TOTAL ASSETS | |||
Total Short-Term Assets | $1.798M | $567.0K | $2.121M |
Total Long-Term Assets | $35.21M | $662.0K | $1.471M |
Total Assets | $37.01M | $1.229M | $3.592M |
YoY Change | 1096.19% | -65.79% | -89.59% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $10.33M | $8.509M | $5.010M |
YoY Change | 83.77% | 69.84% | 0.04% |
Accrued Expenses | $3.521M | $3.398M | $3.339M |
YoY Change | 23.67% | 1.77% | 41.01% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $170.0K | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $513.0K | $7.368M | $7.346M |
YoY Change | -93.43% | 0.3% | 1304.59% |
Total Short-Term Liabilities | $16.31M | $21.13M | $17.28M |
YoY Change | -7.93% | 22.27% | 56.15% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Other Long-Term Liabilities | $171.0K | $128.0K | $255.0K |
YoY Change | -23.32% | -49.8% | -85.03% |
Total Long-Term Liabilities | $171.0K | $128.0K | $255.0K |
YoY Change | -23.32% | -49.8% | -97.35% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $16.31M | $21.13M | $17.28M |
Total Long-Term Liabilities | $171.0K | $128.0K | $255.0K |
Total Liabilities | $17.24M | $21.87M | $19.00M |
YoY Change | -11.06% | 15.1% | -22.27% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$15.29M | -$227.3M | -$216.7M |
YoY Change | -92.98% | 4.89% | 15.89% |
Common Stock | $64.00K | $268.0K | $207.0K |
YoY Change | -72.29% | 29.47% | 73.95% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $19.77M | -$20.64M | -$15.41M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $37.01M | $1.229M | $3.592M |
YoY Change | 1096.19% | -65.79% | -89.59% |
Cashflow Statement
Concept | 2017 Q2 | 2017 Q1 | 2016 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$3.680M | -$1.762M | -$3.264M |
YoY Change | 728.83% | -46.02% | 7.33% |
Depreciation, Depletion And Amortization | $100.0K | $48.00K | $83.00K |
YoY Change | 0.0% | -42.17% | 102.44% |
Cash From Operating Activities | -$850.0K | -$50.00K | -$1.924M |
YoY Change | -155.56% | -97.4% | -45.23% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $19.00K | |
YoY Change | -100.0% | 90.0% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $100.0K | $0.00 | $7.000K |
YoY Change | 900.0% | -100.0% | -170.0% |
Cash From Investing Activities | $100.0K | $0.00 | -$26.00K |
YoY Change | 233.33% | -100.0% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | -100.0% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 1.710M | -$1.000K | $1.728M |
YoY Change | -223.91% | -100.06% | -76.31% |
NET CHANGE | |||
Cash From Operating Activities | -850.0K | -$50.00K | -$1.924M |
Cash From Investing Activities | 100.0K | $0.00 | -$26.00K |
Cash From Financing Activities | 1.710M | -$1.000K | $1.728M |
Net Change In Cash | 960.0K | -$51.00K | -$222.0K |
YoY Change | 433.33% | -77.03% | -105.87% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$850.0K | -$50.00K | -$1.924M |
Capital Expenditures | $0.00 | $19.00K | |
Free Cash Flow | -$50.00K | -$1.943M | |
YoY Change | -97.43% | -44.85% |
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|
24000 | USD |
CY2017Q1 | us-gaap |
Inventory Net
InventoryNet
|
15000 | USD |
CY2016Q4 | us-gaap |
Liabilities
Liabilities
|
20609000 | USD |
CY2017Q1 | us-gaap |
Liabilities
Liabilities
|
21872000 | USD |
CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1259000 | USD |
CY2017Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1229000 | USD |
CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
19824000 | USD |
CY2017Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
21129000 | USD |
CY2016Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
7814000 | USD |
CY2017Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
7368000 | USD |
CY2016Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
0 | USD |
CY2017Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
0 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1728000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1000 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-26000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1924000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-50000 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-1312000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-130000 | USD |
CY2016Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3264000 | USD |
CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1762000 | USD |
CY2016Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-3657000 | USD |
CY2017Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1762000 | USD |
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | ||
CY2017Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
CY2016Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
1974000 | USD |
CY2017Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
1754000 | USD |
CY2016Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2243000 | USD |
CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1555000 | USD |
CY2016Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
105000 | USD |
CY2017Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
200000 | USD |
CY2017Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
190000 | USD |
CY2016Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
58000 | USD |
CY2017Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
4000 | USD |
CY2016Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
1529000 | USD |
CY2017Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
1529000 | USD |
CY2016Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
203000 | USD |
CY2017Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
128000 | USD |
CY2017Q1 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
100000 | USD |
CY2016Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
7000 | USD |
CY2017Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
0 | USD |
CY2016Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
219000 | USD |
CY2016Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
19000 | USD |
CY2017Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
0 | USD |
CY2016Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
393000 | USD |
CY2017Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
0 | USD |
CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2017Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
15000000 | shares |
CY2017Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
15000000 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
214705 | shares |
CY2017Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
214705 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
214705 | shares |
CY2017Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
214705 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
2000 | USD |
CY2017Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
2000 | USD |
CY2017Q1 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
100000 | USD |
CY2016Q1 | us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
1779000 | USD |
CY2017Q1 | us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
0 | USD |
CY2016Q1 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
500000 | USD |
CY2017Q1 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
0 | USD |
CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
144000 | USD |
CY2017Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
127000 | USD |
CY2016Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
21000 | USD |
CY2017Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
1000 | USD |
CY2016Q1 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
1000 | USD |
CY2017Q1 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
1000 | USD |
CY2016Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
550000 | USD |
CY2017Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
0 | USD |
CY2016Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
270000 | USD |
CY2017Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
134000 | USD |
CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-225493000 | USD |
CY2017Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-227255000 | USD |
CY2016Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
236000 | USD |
CY2017Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
658000 | USD |
CY2016Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
1704000 | USD |
CY2017Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
1620000 | USD |
CY2016Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
110000 | USD |
CY2017Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
-24000 | USD |
CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
|
P1Y0M0D | |
CY2017Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
|
P10Y | |
CY2016Q2 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
89000 | USD |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-19350000 | USD |
CY2017Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-20643000 | USD |
CY2016Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
582000 | USD |
CY2017Q1 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
615000 | USD |
CY2016Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
20323333 | shares |
CY2017Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
26779835 | shares |