2015 Q1 Form 10-K Financial Statement

#000155335015000277 Filed on March 27, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 2013 Q4
Revenue $9.126K $40.57K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.310M $4.113M $990.0K
YoY Change 29.7% 60.34% 160.53%
% of Gross Profit
Research & Development $503.6K $2.861M $620.0K
YoY Change -5.64% 4.51% 100.0%
% of Gross Profit
Depreciation & Amortization $25.61K $66.90K $10.00K
YoY Change 1080.28% 953.8%
% of Gross Profit
Operating Expenses $3.982M $12.19M $2.250M
YoY Change 66.28% 85.64% 204.05%
Operating Profit -$3.982M -$12.19M
YoY Change 66.28% 85.64%
Interest Expense $50.39K $73.35K $30.00K
YoY Change -7.29% -250.0%
% of Operating Profit
Other Income/Expense, Net -$44.69K -$56.28K $100.0K
YoY Change 59.12% 24.46% -1100.0%
Pretax Income -$4.030M -$12.24M -$2.120M
YoY Change 66.53% 85.17% 175.32%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$3.909M -$11.79M -$2.060M
YoY Change 67.73% 29.93% 174.67%
Net Earnings / Revenue -42835.83% -29057.97%
Basic Earnings Per Share
Diluted Earnings Per Share -$39.10 -$131.00 -$22.88
COMMON SHARES
Basic Shares Outstanding 8.394M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.10M $14.40M $21.90M
YoY Change 8.76% -34.25%
Cash & Equivalents $10.27M $3.700M $4.567M
Short-Term Investments $10.80M $10.70M $17.30M
Other Short-Term Assets $1.100M $900.0K $1.100M
YoY Change 22.22% -18.18% 1000.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $22.15M $15.30M $22.93M
YoY Change 8.94% -33.48% 31296.13%
LONG-TERM ASSETS
Property, Plant & Equipment $428.2K $400.0K $53.75K
YoY Change 654.7% 300.0% 398.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $251.5K $100.0K $35.52K
YoY Change 2279.3% -44.3%
Total Long-Term Assets $679.7K $600.0K $89.27K
YoY Change 909.87% 40.0%
TOTAL ASSETS
Total Short-Term Assets $22.15M $15.30M $22.93M
Total Long-Term Assets $679.7K $600.0K $89.27K
Total Assets $22.83M $15.90M $23.02M
YoY Change 11.92% -30.87% 15498.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $819.9K $1.400M $651.9K
YoY Change 116.69% 100.0% 28.97%
Accrued Expenses $724.5K $800.0K $503.1K
YoY Change 91.43% 60.0% 289.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $700.0K $400.0K
YoY Change
Total Short-Term Liabilities $2.248M $2.600M $1.180M
YoY Change 196.98% 116.67% 65.02%
LONG-TERM LIABILITIES
Long-Term Debt $2.000M $2.300M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $0.00 $122.6K
YoY Change -100.0% 33.03%
Total Long-Term Liabilities $2.000M $2.300M $122.6K
YoY Change 2200.0% 33.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.248M $2.600M $1.180M
Total Long-Term Liabilities $2.000M $2.300M $122.6K
Total Liabilities $4.279M $4.200M $1.303M
YoY Change 465.37% 320.0% -21.64%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.361K $961.00
YoY Change 39.59% 137.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.40M $11.80M $21.99M
YoY Change
Total Liabilities & Shareholders Equity $22.83M $15.90M $23.02M
YoY Change 11.92% -30.87% 15498.15%

Cashflow Statement

Concept 2015 Q1 2014 2013 Q4
OPERATING ACTIVITIES
Net Income -$3.909M -$11.79M -$2.060M
YoY Change 67.73% 29.93% 174.67%
Depreciation, Depletion And Amortization $25.61K $66.90K $10.00K
YoY Change 1080.28% 953.8%
Cash From Operating Activities -$4.462M -$9.829M -$1.620M
YoY Change 86.63% 53.85% 211.54%
INVESTING ACTIVITIES
Capital Expenditures $8.280K $458.7K $40.00K
YoY Change 60.62% 830.02%
Acquisitions
YoY Change
Other Investing Activities -$110.0K $6.420M -$17.35M
YoY Change -122.92% -137.0%
Cash From Investing Activities -$114.2K $5.966M -$17.39M
YoY Change -123.91% -134.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.10M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $11.13M $3.010M 10.00K
YoY Change 30204.58% -89.38% -97.44%
NET CHANGE
Cash From Operating Activities -$4.462M -$9.829M -1.620M
Cash From Investing Activities -$114.2K $5.966M -17.39M
Cash From Financing Activities $11.13M $3.010M 10.00K
Net Change In Cash $6.553M -$852.7K -19.00M
YoY Change -449.19% -118.69% 14515.38%
FREE CASH FLOW
Cash From Operating Activities -$4.462M -$9.829M -$1.620M
Capital Expenditures $8.280K $458.7K $40.00K
Free Cash Flow -$4.471M -$10.29M -$1.660M
YoY Change 86.58% 59.8% 219.23%

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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="margin: 0px; font-family: 'times new roman';" align="justify"><font style="font-size: 10pt;"><b><i>Marketing</i></b></font></p> <p style="margin: 0px; font-family: 'times new roman';" align="justify"><br/></p> <p style="margin: 0px; font-family: 'times new roman';"><font style="font-size: 10pt;">Marketing costs are expensed as incurred. Marketing expense totaled $<font>135,372</font> and $<font>135,366</font> for the years ended December 31, 2014 and 2013, respectively.</font></p> </div>
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473696 shares
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2.67
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