2014 Q2 Form 10-Q Financial Statement

#000119312514298602 Filed on August 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $736.0K $4.759M
YoY Change -84.53% 43.82%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.950M $1.720M
YoY Change 71.51% 75.51%
% of Gross Profit
Research & Development $10.80M $7.722M
YoY Change 39.8% 58.14%
% of Gross Profit
Depreciation & Amortization $350.0K $340.0K
YoY Change 2.94% 36.0%
% of Gross Profit
Operating Expenses $13.75M $9.445M
YoY Change 45.57% 60.99%
Operating Profit -$13.01M -$4.686M
YoY Change 177.7% 83.19%
Interest Expense $10.00K $18.00K
YoY Change -44.44% -80.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$11.97M -$7.338M
YoY Change 63.16% 179.97%
Income Tax $0.00 $10.00K
% Of Pretax Income
Net Earnings -$11.97M -$7.348M
YoY Change 62.94% 182.72%
Net Earnings / Revenue -1626.77% -154.4%
Basic Earnings Per Share -$0.28 -$0.20
Diluted Earnings Per Share -$0.29 -$0.20
COMMON SHARES
Basic Shares Outstanding 43.36M shares 35.99M shares
Diluted Shares Outstanding 44.80M shares 35.99M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $103.5M $82.70M
YoY Change 25.15% 206.3%
Cash & Equivalents $10.02M $19.17M
Short-Term Investments $93.50M $63.50M
Other Short-Term Assets $4.400M $1.600M
YoY Change 175.0% 166.67%
Inventory
Prepaid Expenses
Receivables $2.500M
Other Receivables $0.00
Total Short-Term Assets $107.9M $86.87M
YoY Change 24.19% 214.76%
LONG-TERM ASSETS
Property, Plant & Equipment $3.948M $4.011M
YoY Change -1.57% 17.97%
Goodwill
YoY Change
Intangibles $1.112M $1.229M
YoY Change -9.52%
Long-Term Investments
YoY Change
Other Assets $977.0K $404.0K
YoY Change 141.83% -63.27%
Total Long-Term Assets $6.037M $5.644M
YoY Change 6.96% 0.79%
TOTAL ASSETS
Total Short-Term Assets $107.9M $86.87M
Total Long-Term Assets $6.037M $5.644M
Total Assets $113.9M $92.52M
YoY Change 23.14% 178.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.018M $1.028M
YoY Change 193.58% 28.5%
Accrued Expenses $4.432M $2.081M
YoY Change 112.97% -36.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.27M $19.01M
YoY Change -40.72% -15.53%
LONG-TERM LIABILITIES
Long-Term Debt $12.50M $14.60M
YoY Change -14.38% 3550.0%
Other Long-Term Liabilities $1.260M $1.765M
YoY Change -28.61% -86.93%
Total Long-Term Liabilities $1.260M $1.765M
YoY Change -28.61% -87.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.27M $19.01M
Total Long-Term Liabilities $1.260M $1.765M
Total Liabilities $31.84M $43.20M
YoY Change -26.29% 18.35%
SHAREHOLDERS EQUITY
Retained Earnings -$103.8M -$75.00M
YoY Change 38.41%
Common Stock $43.00K $36.00K
YoY Change 19.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $82.08M $49.32M
YoY Change
Total Liabilities & Shareholders Equity $113.9M $92.52M
YoY Change 23.14% 178.67%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$11.97M -$7.348M
YoY Change 62.94% 182.72%
Depreciation, Depletion And Amortization $350.0K $340.0K
YoY Change 2.94% 36.0%
Cash From Operating Activities -$10.02M -$7.430M
YoY Change 34.86% 59.1%
INVESTING ACTIVITIES
Capital Expenditures -$650.0K -$190.0K
YoY Change 242.11% -50.0%
Acquisitions
YoY Change
Other Investing Activities $12.20M $8.910M
YoY Change 36.92% 8810.0%
Cash From Investing Activities $11.53M $8.720M
YoY Change 32.22% -3214.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.00K 60.00K
YoY Change -50.0% -127.27%
NET CHANGE
Cash From Operating Activities -10.02M -7.430M
Cash From Investing Activities 11.53M 8.720M
Cash From Financing Activities 30.00K 60.00K
Net Change In Cash 1.540M 1.350M
YoY Change 14.07% -126.11%
FREE CASH FLOW
Cash From Operating Activities -$10.02M -$7.430M
Capital Expenditures -$650.0K -$190.0K
Free Cash Flow -$9.370M -$7.240M
YoY Change 29.42% 68.76%

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CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7338000
CY2013Q2 us-gaap Revenues
Revenues
4759000
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7392000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4686000
CY2013Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
63000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-7348000
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1723000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
9445000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10000
CY2013Q2 us-gaap Interest Expense
InterestExpense
18000
CY2013Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
759000
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7722000
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44799536 shares
CY2014Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1437053 shares
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2052638 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43362483 shares
CY2014Q2 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
953000
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
17000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-11973000
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-12926000
CY2014Q2 us-gaap Revenues
Revenues
736000
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11956000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-13013000
CY2014Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
97000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-11973000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2954000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
13749000
CY2014Q2 us-gaap Interest Expense
InterestExpense
10000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1684000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10795000

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