2018 Q4 Form 10-Q Financial Statement

#000162828018014023 Filed on November 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $18.00K $18.00K $18.00K
YoY Change 0.0% 0.0% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.750M $2.990M $3.260M
YoY Change -15.64% 9.12% -31.8%
% of Gross Profit
Research & Development $5.260M $6.879M $10.47M
YoY Change -49.76% -45.82% -30.11%
% of Gross Profit
Depreciation & Amortization $590.0K $550.0K $580.0K
YoY Change 1.72% -5.17% -15.94%
% of Gross Profit
Operating Expenses $8.000M $9.872M $13.72M
YoY Change -41.71% -36.03% -30.55%
Operating Profit -$9.854M
YoY Change -36.08%
Interest Expense -$520.0K $620.0K -$800.0K
YoY Change -35.0% 6.9% 196.3%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$8.500M -$10.27M -$14.51M
YoY Change -41.42% -35.12% -27.52%
Income Tax $60.00K $0.00 -$36.31M
% Of Pretax Income
Net Earnings -$8.563M -$10.27M -$14.45M
YoY Change -40.73% -35.1% -27.83%
Net Earnings / Revenue -47572.22% -57072.22% -80266.67%
Basic Earnings Per Share
Diluted Earnings Per Share -$971.6K -$1.180M -$1.663M
COMMON SHARES
Basic Shares Outstanding 8.750M shares 104.8M shares 104.0M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.90M $20.50M $60.10M
YoY Change -76.87% -71.29% -21.02%
Cash & Equivalents $13.94M $14.08M $13.52M
Short-Term Investments $0.00 $6.400M $46.60M
Other Short-Term Assets $1.140M $717.0K $1.506M
YoY Change -24.3% -59.08% -63.75%
Inventory
Prepaid Expenses $4.194M $4.194M $4.783M
Receivables $0.00 $0.00 $400.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $19.30M $25.44M $66.74M
YoY Change -71.09% -68.03% -23.71%
LONG-TERM ASSETS
Property, Plant & Equipment $7.806M $8.324M $9.708M
YoY Change -19.59% -18.17% -17.94%
Goodwill
YoY Change
Intangibles $500.0K $676.0K $775.0K
YoY Change -35.48% -15.71% -23.65%
Long-Term Investments
YoY Change
Other Assets $326.0K $327.0K $590.0K
YoY Change -44.75% 6.51% 72.51%
Total Long-Term Assets $8.632M $9.327M $11.07M
YoY Change -22.04% -17.32% -16.03%
TOTAL ASSETS
Total Short-Term Assets $19.30M $25.44M $66.74M
Total Long-Term Assets $8.632M $9.327M $11.07M
Total Assets $27.93M $34.77M $77.81M
YoY Change -64.11% -61.73% -22.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.714M $1.235M $5.743M
YoY Change -70.15% -76.38% -1.66%
Accrued Expenses $1.625M $1.856M $4.941M
YoY Change -67.11% -61.09% -11.4%
Deferred Revenue $2.572M $72.00K $72.00K
YoY Change 3472.22%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $16.60M $19.10M $19.90M
YoY Change -16.58%
Total Short-Term Liabilities $26.65M $25.65M $32.60M
YoY Change -18.26% 118.18% 136.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $309.0K $373.0K $0.00
YoY Change 6.27% -100.0%
Total Long-Term Liabilities $309.0K $373.0K $0.00
YoY Change 6.27% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.65M $25.65M $32.60M
Total Long-Term Liabilities $309.0K $373.0K $0.00
Total Liabilities $33.78M $33.19M $42.59M
YoY Change -20.69% -21.47% -4.47%
SHAREHOLDERS EQUITY
Retained Earnings -$392.7M -$384.2M -$345.9M
YoY Change 13.55% 15.92% 26.53%
Common Stock $386.9M $385.8M $381.2M
YoY Change 1.49% 1.5% 15.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.854M $1.578M $35.22M
YoY Change
Total Liabilities & Shareholders Equity $27.93M $34.77M $77.81M
YoY Change -64.11% -61.73% -22.7%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income -$8.563M -$10.27M -$14.45M
YoY Change -40.73% -35.1% -27.83%
Depreciation, Depletion And Amortization $590.0K $550.0K $580.0K
YoY Change 1.72% -5.17% -15.94%
Cash From Operating Activities -$4.010M -$11.45M -$11.10M
YoY Change -63.87% -1.8% -26.49%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$20.00K -$80.00K
YoY Change -100.0% -80.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities $6.440M $12.95M $4.480M
YoY Change 43.75% -154.64% -71.19%
Cash From Investing Activities $6.440M $12.93M $4.400M
YoY Change 46.36% -154.33% -71.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.570M -890.0K 0.000
YoY Change -102.06% -100.0%
NET CHANGE
Cash From Operating Activities -4.010M -11.45M -11.10M
Cash From Investing Activities 6.440M 12.93M 4.400M
Cash From Financing Activities -2.570M -890.0K 0.000
Net Change In Cash -140.0K 590.0K -6.700M
YoY Change -97.91% -92.33% -2891.67%
FREE CASH FLOW
Cash From Operating Activities -$4.010M -$11.45M -$11.10M
Capital Expenditures $0.00 -$20.00K -$80.00K
Free Cash Flow -$4.010M -$11.43M -$11.02M
YoY Change -63.61% -1.12% -26.24%

Facts In Submission

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PrepaidExpenseCurrent
4194000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
43411000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
219000 USD
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
58310000 USD
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
40101000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9708000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8324000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
0 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
833000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12697000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
42727000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6879000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28720000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-345858000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-384161000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-344014000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
18000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
54000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
18000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6531000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4374000 USD
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1134000 shares
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
46555000 USD
CY2018Q3 us-gaap Short Term Investments
ShortTermInvestments
6433000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
35216000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
1578000 USD
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7506529 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5463096 shares
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8703626 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8688831 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our condensed financial statements are prepared in accordance with GAAP, which requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in our financial statements and accompanying notes. An estimated loss contingency is accrued in our financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Although these estimates are based on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ from these estimates and assumptions.</font></div></div>

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0001628280-18-014023.txt Edgar Link pending
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