2012 Q3 Form 10-Q Financial Statement

#000107997312000601 Filed on August 07, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2012 Q2 2011 Q2
Revenue $6.000K $27.00K $55.00K
YoY Change -72.73% -50.91% -8.33%
Cost Of Revenue $12.00 $2.749K
YoY Change -99.56% -90.84%
Gross Profit $6.000K $27.00K $52.00K
YoY Change -72.73% -48.08% 73.33%
Gross Profit Margin 100.0% 100.0% 94.55%
Selling, General & Admin $1.346M $1.394M $1.360M
YoY Change -4.24% 2.46% -35.84%
% of Gross Profit 22439.85% 5161.9% 2615.88%
Research & Development $1.066M $880.6K $1.456M
YoY Change -35.2% -39.53% 11.17%
% of Gross Profit 17766.12% 3261.52% 2800.64%
Depreciation & Amortization $91.00K $93.00K $102.7K
YoY Change -7.14% -9.44% -14.42%
% of Gross Profit 1516.67% 344.44% 197.5%
Operating Expenses $2.412M $2.274M $2.817M
YoY Change -20.93% -19.25% -17.64%
Operating Profit -$2.402M -$2.247M -$2.746M
YoY Change -20.24% -18.18% -18.99%
Interest Expense -$40.00K
YoY Change 0.0%
% of Operating Profit
Other Income/Expense, Net -$58.46K -$62.66K -$41.04K
YoY Change 11.9% 52.69%
Pretax Income -$2.460M -$2.310M -$2.790M
YoY Change -19.61% -17.2% -18.42%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.460M -$2.310M -$2.787M
YoY Change -19.71% -17.12% -18.51%
Net Earnings / Revenue -41000.0% -8555.56% -5067.27%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.563M -$9.625M -$16.41M
COMMON SHARES
Basic Shares Outstanding 7.716M
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q3 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.20M $11.20M $7.100M
YoY Change 112.5% 57.75% -56.71%
Cash & Equivalents $9.837M $10.95M $6.108M
Short-Term Investments $400.0K $200.0K $1.000M
Other Short-Term Assets $500.0K $100.0K $200.0K
YoY Change 0.0% -50.0% 0.0%
Inventory $0.00
Prepaid Expenses
Receivables $3.238K $25.20K $0.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.69M $11.33M $7.300M
YoY Change 101.78% 55.22% -56.55%
LONG-TERM ASSETS
Property, Plant & Equipment $2.560M $2.609M $3.000M
YoY Change -11.72% -13.04% -9.09%
Goodwill $387.2K $387.2K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.569M $1.582M $0.00
YoY Change
Total Long-Term Assets $4.129M $4.191M $4.700M
YoY Change -12.14% -10.84% -7.84%
TOTAL ASSETS
Total Short-Term Assets $10.69M $11.33M $7.300M
Total Long-Term Assets $4.129M $4.191M $4.700M
Total Assets $14.82M $15.52M $12.00M
YoY Change 48.24% 29.35% -45.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $642.0K $435.8K $1.300M
YoY Change -57.2% -66.48% 62.5%
Accrued Expenses $658.9K $366.6K $1.200M
YoY Change -49.32% -69.45% 71.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.600M $900.0K $100.0K
YoY Change 550.0% 800.0% 0.0%
Total Short-Term Liabilities $4.298M $1.978M $2.600M
YoY Change 30.25% -23.93% 8.33%
LONG-TERM LIABILITIES
Long-Term Debt $800.0K $2.400M $2.500M
YoY Change -68.0% -4.0% -3.85%
Other Long-Term Liabilities $1.000M $200.0K $600.0K
YoY Change 66.67% -66.67% -14.29%
Total Long-Term Liabilities $1.800M $2.600M $3.100M
YoY Change -41.94% -16.13% -6.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.298M $1.978M $2.600M
Total Long-Term Liabilities $1.800M $2.600M $3.100M
Total Liabilities $6.061M $4.554M $5.700M
YoY Change -5.29% -20.1% 1.79%
SHAREHOLDERS EQUITY
Retained Earnings -$71.73M -$69.27M
YoY Change
Common Stock $80.49M $80.24M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.762M $10.97M $6.300M
YoY Change
Total Liabilities & Shareholders Equity $14.82M $15.52M $12.00M
YoY Change 48.24% 29.35% -45.21%

Cashflow Statement

Concept 2012 Q3 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income -$2.460M -$2.310M -$2.787M
YoY Change -19.71% -17.12% -18.51%
Depreciation, Depletion And Amortization $91.00K $93.00K $102.7K
YoY Change -7.14% -9.44% -14.42%
Cash From Operating Activities -$540.0K -$1.330M -$2.200M
YoY Change -73.79% -39.55% -33.53%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K -$30.00K -$60.00K
YoY Change 0.0% -50.0% -77.78%
Acquisitions
YoY Change
Other Investing Activities -$180.0K $350.0K $290.0K
YoY Change -87.5% 20.69% -107.49%
Cash From Investing Activities -$230.0K $320.0K $230.0K
YoY Change -84.56% 39.13% -105.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -350.0K 10.65M -70.00K
YoY Change 133.33% -15314.29% -100.76%
NET CHANGE
Cash From Operating Activities -540.0K -1.330M -2.200M
Cash From Investing Activities -230.0K 320.0K 230.0K
Cash From Financing Activities -350.0K 10.65M -70.00K
Net Change In Cash -1.120M 9.640M -2.040M
YoY Change -69.73% -572.55% -215.91%
FREE CASH FLOW
Cash From Operating Activities -$540.0K -$1.330M -$2.200M
Capital Expenditures -$50.00K -$30.00K -$60.00K
Free Cash Flow -$490.0K -$1.300M -$2.140M
YoY Change -75.62% -39.25% -29.61%

Facts In Submission

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5521130 USD
CY2012Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5521130 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2795149 USD
CY2012Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2608950 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
632035 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
222709 USD
CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
880610 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1557228 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2728330 USD
CY2011Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1456335 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-65020918 USD
us-gaap Share Based Compensation
ShareBasedCompensation
451197 USD
us-gaap Share Based Compensation
ShareBasedCompensation
675005 USD
CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-69268948 USD
CY2012Q2 us-gaap Royalty Expense
RoyaltyExpense
20000 USD
CY2012Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
27241 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
34516 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
152638 USD
CY2011Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
55322 USD
CY2012Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1393714 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2598389 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2963729 USD
CY2011Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1360256 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTermMaximum
5
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTermMinimum
3
CY2011Q4 us-gaap Short Term Investments
ShortTermInvestments
1003124 USD
CY2012Q2 us-gaap Short Term Investments
ShortTermInvestments
209972 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
3825878 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
10967557 USD
us-gaap Stockholders Equity Note Changes In Capital Structure Subsequent Changes To Number Of Common Shares
StockholdersEquityNoteChangesInCapitalStructureSubsequentChangesToNumberOfCommonShares
1800000
us-gaap Stockholders Equity Note Changes In Capital Structure Subsequent Changes To Number Of Common Shares
StockholdersEquityNoteChangesInCapitalStructureSubsequentChangesToNumberOfCommonShares
1340649

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