2018 Q3 Form 10-Q Financial Statement

#000101749118000075 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.930M $2.080M $2.410M
YoY Change 9.66% 30.0% 26.84%
% of Gross Profit
Research & Development $769.0K $162.0K $240.0K
YoY Change -60.77% -80.69% -60.66%
% of Gross Profit
Depreciation & Amortization $20.00K
YoY Change -118.18%
% of Gross Profit
Operating Expenses $2.703M $2.237M $2.650M
YoY Change -27.26% -8.36% 5.58%
Operating Profit -$2.703M -$2.237M
YoY Change -27.26% -8.36%
Interest Expense $0.00 $0.00 -$50.00K
YoY Change -100.0% -100.0% -102.27%
% of Operating Profit
Other Income/Expense, Net -$135.0K -$16.00K $100.0K
YoY Change -53.92% -102.23%
Pretax Income -$2.840M -$2.250M -$2.600M
YoY Change -29.18% 30.81% 712.5%
Income Tax
% Of Pretax Income
Net Earnings -$2.838M -$2.277M -$2.450M
YoY Change -25.94% 54.48% 716.67%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$3.595M -$2.923M -$4.804M
COMMON SHARES
Basic Shares Outstanding 23.44M shares 23.44M shares 15.22M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.280M $6.840M $6.330M
YoY Change -37.59% -12.53% 202.87%
Cash & Equivalents $5.283M $6.836M $6.331M
Short-Term Investments
Other Short-Term Assets $200.0K $290.0K $260.0K
YoY Change -13.04% -65.06% -83.23%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $5.481M $7.130M $6.592M
YoY Change -36.91% -17.56% 81.4%
LONG-TERM ASSETS
Property, Plant & Equipment $46.00K $56.00K $79.00K
YoY Change -54.0% -53.72% -51.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $37.00K $36.00K $35.00K
YoY Change 5.71% -20.0% -41.67%
Total Long-Term Assets $83.00K $92.00K $114.0K
YoY Change -38.52% -44.58% -89.31%
TOTAL ASSETS
Total Short-Term Assets $5.481M $7.130M $6.592M
Total Long-Term Assets $83.00K $92.00K $114.0K
Total Assets $5.564M $7.222M $6.706M
YoY Change -36.94% -18.07% 42.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $320.0K $1.050M $60.00K
YoY Change 23.08% 650.0% -92.11%
Accrued Expenses $766.0K $454.0K $650.0K
YoY Change -2.17% -36.59% -51.24%
Deferred Revenue $0.00 $12.00K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.425M $1.903M $1.583M
YoY Change -21.44% 3.2% -85.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $26.00K $35.00K $58.00K
YoY Change -51.85% -41.67% -23.68%
Total Long-Term Liabilities $26.00K $35.00K $58.00K
YoY Change -51.85% -41.67% -23.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.425M $1.903M $1.583M
Total Long-Term Liabilities $26.00K $35.00K $58.00K
Total Liabilities $1.451M $1.938M $2.335M
YoY Change -42.05% -13.6% -80.89%
SHAREHOLDERS EQUITY
Retained Earnings -$323.4M -$320.5M -$316.0M
YoY Change 3.14% 3.5% -0.1%
Common Stock $327.5M $325.8M $320.4M
YoY Change 2.38% 3.02% 3.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.113M $5.284M $4.371M
YoY Change
Total Liabilities & Shareholders Equity $5.564M $7.222M $6.706M
YoY Change -36.94% -18.07% 42.68%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q4
OPERATING ACTIVITIES
Net Income -$2.838M -$2.277M -$2.450M
YoY Change -25.94% 54.48% 716.67%
Depreciation, Depletion And Amortization $20.00K
YoY Change -118.18%
Cash From Operating Activities -$540.0K -$330.0K -$2.480M
YoY Change -82.12% -85.46% -8.49%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $210.0K
YoY Change
Cash From Investing Activities $210.0K
YoY Change 2000.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 700.0K 500.0K 130.0K
YoY Change -79.53% -91.78% -115.66%
NET CHANGE
Cash From Operating Activities -540.0K -330.0K -2.480M
Cash From Investing Activities 210.0K
Cash From Financing Activities 700.0K 500.0K 130.0K
Net Change In Cash 160.0K 170.0K -2.140M
YoY Change -75.38% -95.81% -39.38%
FREE CASH FLOW
Cash From Operating Activities -$540.0K -$330.0K -$2.480M
Capital Expenditures $0.00
Free Cash Flow -$2.480M
YoY Change -8.49%

Facts In Submission

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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
4373000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-4851000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-10600000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-3865000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-1474000 USD
us-gaap Net Income Loss
NetIncomeLoss
6599000 USD
us-gaap Operating Expenses
OperatingExpenses
4309000 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1275000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-2277000 USD
us-gaap Net Income Loss
NetIncomeLoss
-4548000 USD
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
719000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-832000 USD
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-16000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
65000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
2441000 USD
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
2237000 USD
us-gaap Operating Expenses
OperatingExpenses
4589000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-2441000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-4309000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-2237000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-4589000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
14000 USD
CY2018Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
54000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
35000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
36000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
58000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
35000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-26000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000 USD
CY2017Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
0 USD
CY2018Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
7000 USD
CY2016Q2 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
400000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
788000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
452000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
261000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
294000 USD
CY2017Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
11500000 USD
CY2017Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
11500000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6866000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3550000 USD
CY2016Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
2200000 USD
CY2016Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
7800000 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
56000 USD
CY2017Q2 us-gaap Recapitalization Costs
RecapitalizationCosts
0 USD
us-gaap Recapitalization Costs
RecapitalizationCosts
0 USD
CY2018Q1 us-gaap Recapitalization Costs
RecapitalizationCosts
141000 USD
CY2018Q2 us-gaap Recapitalization Costs
RecapitalizationCosts
17000 USD
us-gaap Recapitalization Costs
RecapitalizationCosts
158000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
7129000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
839000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1266000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
162000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
379000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-315987000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-320535000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
572000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
556000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0229
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0227
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
1041000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
533000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
3905000 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
7084000 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
9415000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
700000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
695000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.66
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
369000 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1064000 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.37
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.40
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.11
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
1275000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
4371000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
5284000 USD
CY2017Q2 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
800000 USD
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
11335000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9547000 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23362000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
19648000 shares

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