2013 Q3 Form 10-Q Financial Statement

#000107997313000477 Filed on August 07, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q2 2012 Q2
Revenue $56.00K $27.00K
YoY Change 833.33% -50.91%
Cost Of Revenue $21.23K $12.00
YoY Change -99.56%
Gross Profit $35.00K $27.00K
YoY Change 483.33% -48.08%
Gross Profit Margin 62.5% 100.0%
Selling, General & Admin $1.323M $1.354M $1.394M
YoY Change -1.74% -2.83% 2.46%
% of Gross Profit 3779.93% 5161.9%
Research & Development $1.806M $1.801M $880.6K
YoY Change 69.46% 104.46% -39.53%
% of Gross Profit 5161.07% 3261.52%
Depreciation & Amortization $150.0K $64.00K $93.00K
YoY Change 64.84% -31.18% -9.44%
% of Gross Profit 428.57% 344.44%
Operating Expenses $3.129M $3.155M $2.274M
YoY Change 29.72% 38.72% -19.25%
Operating Profit -$3.073M -$3.134M -$2.247M
YoY Change 27.95% 39.45% -18.18%
Interest Expense $31.90K $30.75K
YoY Change
% of Operating Profit
Other Income/Expense, Net $713.00 -$11.02K -$62.66K
YoY Change -101.22% -82.42% 52.69%
Pretax Income -$3.070M -$3.140M -$2.310M
YoY Change 24.8% 35.93% -17.2%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.072M -$3.145M -$2.310M
YoY Change 24.88% 36.15% -17.12%
Net Earnings / Revenue -5485.71% -8555.56%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.146M -$1.707M -$9.625M
COMMON SHARES
Basic Shares Outstanding 21.45M shares 9.954M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.30M $20.00M $11.20M
YoY Change 69.61% 78.57% 57.75%
Cash & Equivalents $4.355M $9.737M $10.95M
Short-Term Investments $12.90M $10.30M $200.0K
Other Short-Term Assets $500.0K $100.0K $100.0K
YoY Change 0.0% 0.0% -50.0%
Inventory
Prepaid Expenses
Receivables $56.07K $25.20K
Other Receivables $0.00 $0.00
Total Short-Term Assets $17.85M $20.11M $11.33M
YoY Change 66.88% 77.51% 55.22%
LONG-TERM ASSETS
Property, Plant & Equipment $2.319M $2.377M $2.609M
YoY Change -9.42% -8.9% -13.04%
Goodwill $387.2K $387.2K $387.2K
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.616M $1.610M $1.582M
YoY Change 2.97% 1.78%
Total Long-Term Assets $3.935M $3.987M $4.191M
YoY Change -4.71% -4.87% -10.84%
TOTAL ASSETS
Total Short-Term Assets $17.85M $20.11M $11.33M
Total Long-Term Assets $3.935M $3.987M $4.191M
Total Assets $21.78M $24.10M $15.52M
YoY Change 46.94% 55.27% 29.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $870.4K $874.9K $435.8K
YoY Change 35.56% 100.76% -66.48%
Accrued Expenses $972.2K $884.1K $366.6K
YoY Change 47.56% 141.14% -69.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K $100.0K $900.0K
YoY Change -84.62% -88.89% 800.0%
Total Short-Term Liabilities $2.401M $2.034M $1.978M
YoY Change -44.14% 2.86% -23.93%
LONG-TERM LIABILITIES
Long-Term Debt $2.200M $2.200M $2.400M
YoY Change 175.0% -8.33% -4.0%
Other Long-Term Liabilities $1.300M $1.200M $200.0K
YoY Change 30.0% 500.0% -66.67%
Total Long-Term Liabilities $3.500M $3.400M $2.600M
YoY Change 94.44% 30.77% -16.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.401M $2.034M $1.978M
Total Long-Term Liabilities $3.500M $3.400M $2.600M
Total Liabilities $5.913M $5.492M $4.554M
YoY Change -2.45% 20.58% -20.1%
SHAREHOLDERS EQUITY
Retained Earnings -$83.25M -$80.18M -$69.27M
YoY Change 16.06% 15.75%
Common Stock $99.12M $98.79M $80.24M
YoY Change 23.15% 23.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.87M $18.61M $10.97M
YoY Change
Total Liabilities & Shareholders Equity $21.78M $24.10M $15.52M
YoY Change 46.94% 55.27% 29.35%

Cashflow Statement

Concept 2013 Q3 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$3.072M -$3.145M -$2.310M
YoY Change 24.88% 36.15% -17.12%
Depreciation, Depletion And Amortization $150.0K $64.00K $93.00K
YoY Change 64.84% -31.18% -9.44%
Cash From Operating Activities -$2.570M -$1.890M -$1.330M
YoY Change 375.93% 42.11% -39.55%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$30.00K -$30.00K
YoY Change -40.0% 0.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities -$2.680M -$3.480M $350.0K
YoY Change 1388.89% -1094.29% 20.69%
Cash From Investing Activities -$2.700M -$3.520M $320.0K
YoY Change 1073.91% -1200.0% 39.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -100.0K 12.64M 10.65M
YoY Change -71.43% 18.69% -15314.29%
NET CHANGE
Cash From Operating Activities -2.570M -1.890M -1.330M
Cash From Investing Activities -2.700M -3.520M 320.0K
Cash From Financing Activities -100.0K 12.64M 10.65M
Net Change In Cash -5.370M 7.230M 9.640M
YoY Change 379.46% -25.0% -572.55%
FREE CASH FLOW
Cash From Operating Activities -$2.570M -$1.890M -$1.330M
Capital Expenditures -$30.00K -$30.00K -$30.00K
Free Cash Flow -$2.540M -$1.860M -$1.300M
YoY Change 418.37% 43.08% -39.25%

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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10938512 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
3411351 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
1002866 USD
CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
880610 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3212495 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1557228 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-80179921 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-74233133 USD
us-gaap Royalty Expense
RoyaltyExpense
20000 USD
CY2013Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
USD
CY2012Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
27241 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
USD
CY2013Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5581809 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5562898 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2376700 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2484539 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
685697 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
632035 USD
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1800522 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
34516 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2782285 USD
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1354330 USD
CY2012Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1393714 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2598389 USD
CY2012Q2 us-gaap Share Price
SharePrice
2.00
CY2013Q2 us-gaap Share Price
SharePrice
1.25
CY2013Q2 us-gaap Short Term Investments
ShortTermInvestments
10256328 USD
CY2012Q4 us-gaap Short Term Investments
ShortTermInvestments
1162904 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
18609146 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
10691000 USD
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
6100000 shares
CY2013Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
11500000 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
12200000 USD
CY2013Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
14400000 USD
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14756578 shares
CY2012Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1948717 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12368745 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1778433 shares

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