2017 Q3 Form 10-Q Financial Statement

#000101749117000091 Filed on August 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $0.00 $0.00 $464.0K
YoY Change -100.0% -100.0% 0.43%
Cost Of Revenue $93.00K
YoY Change -81.73%
Gross Profit $371.0K
YoY Change -889.36%
Gross Profit Margin 79.96%
Selling, General & Admin $1.760M $1.600M $2.120M
YoY Change 13.55% -24.53% -20.6%
% of Gross Profit 571.43%
Research & Development $1.960M $839.0K $2.503M
YoY Change 1052.94% -66.48% -19.44%
% of Gross Profit 674.66%
Depreciation & Amortization $20.00K $20.00K $80.00K
YoY Change -71.43% -75.0% 0.0%
% of Gross Profit 21.56%
Operating Expenses $3.716M $2.441M $4.625M
YoY Change 116.05% -47.22% -19.93%
Operating Profit -$3.716M -$2.441M -$4.625M
YoY Change 116.05% -47.22% -20.57%
Interest Expense $3.000K $3.000K -$258.0K
YoY Change -101.28% -101.16% 51.76%
% of Operating Profit
Other Income/Expense, Net -$293.0K $719.0K $1.372M
YoY Change -336.29% -47.59% 137.37%
Pretax Income -$4.010M -$1.720M -$3.250M
YoY Change 150.63% -47.08% -38.1%
Income Tax $2.000K
% Of Pretax Income
Net Earnings -$3.832M -$1.474M -$3.338M
YoY Change 196.82% -55.84% -36.36%
Net Earnings / Revenue -719.4%
Basic Earnings Per Share
Diluted Earnings Per Share -$8.705M -$3.868M -$15.90M
COMMON SHARES
Basic Shares Outstanding 12.78M shares 12.77M shares 47.10M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.460M $7.820M $2.720M
YoY Change 50.8% 187.5% -63.39%
Cash & Equivalents $8.463M $7.821M $2.723M
Short-Term Investments
Other Short-Term Assets $230.0K $830.0K $740.0K
YoY Change -45.24% 12.16% -43.51%
Inventory $778.0K
Prepaid Expenses
Receivables $687.0K
Other Receivables $0.00
Total Short-Term Assets $8.688M $8.649M $4.925M
YoY Change 20.07% 75.61% -49.83%
LONG-TERM ASSETS
Property, Plant & Equipment $100.0K $121.0K $1.163M
YoY Change -90.83% -89.6% -18.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $35.00K $45.00K $78.00K
YoY Change -57.83% -42.31% -47.65%
Total Long-Term Assets $135.0K $166.0K $1.241M
YoY Change -88.5% -86.62% -21.16%
TOTAL ASSETS
Total Short-Term Assets $8.688M $8.649M $4.925M
Total Long-Term Assets $135.0K $166.0K $1.241M
Total Assets $8.823M $8.815M $6.166M
YoY Change 4.91% 42.96% -45.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $260.0K $140.0K $1.600M
YoY Change -81.82% -91.25% 255.56%
Accrued Expenses $783.0K $716.0K $2.753M
YoY Change -75.1% -73.99% 8.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $8.070M
YoY Change -100.0% -100.0% 777.17%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.814M $1.844M $13.27M
YoY Change -85.61% -86.1% 166.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $54.00K $60.00K $131.0K
YoY Change -32.5% -54.2% -46.75%
Total Long-Term Liabilities $54.00K $60.00K $131.0K
YoY Change -32.5% -54.2% -46.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.814M $1.844M $13.27M
Total Long-Term Liabilities $54.00K $60.00K $131.0K
Total Liabilities $2.504M $2.243M $15.61M
YoY Change -84.3% -85.63% 6.61%
SHAREHOLDERS EQUITY
Retained Earnings -$313.5M -$309.7M -$314.7M
YoY Change -0.78% -1.59% 4.38%
Common Stock $319.9M $316.3M $305.3M
YoY Change 3.69% 3.6% 2.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.319M $6.572M -$9.441M
YoY Change
Total Liabilities & Shareholders Equity $8.823M $8.815M $6.166M
YoY Change 4.91% 42.96% -45.86%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$3.832M -$1.474M -$3.338M
YoY Change 196.82% -55.84% -36.36%
Depreciation, Depletion And Amortization $20.00K $20.00K $80.00K
YoY Change -71.43% -75.0% 0.0%
Cash From Operating Activities -$3.020M -$2.270M -$3.230M
YoY Change 251.16% -29.72% -62.49%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$10.00K
YoY Change -100.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities $250.0K $250.0K $180.0K
YoY Change 38.89%
Cash From Investing Activities $250.0K $250.0K $170.0K
YoY Change 47.06% -950.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.420M 6.080M -1.110M
YoY Change -8.8% -647.75% 1133.33%
NET CHANGE
Cash From Operating Activities -3.020M -2.270M -3.230M
Cash From Investing Activities 250.0K 250.0K 170.0K
Cash From Financing Activities 3.420M 6.080M -1.110M
Net Change In Cash 650.0K 4.060M -4.170M
YoY Change -77.51% -197.36% -52.18%
FREE CASH FLOW
Cash From Operating Activities -$3.020M -$2.270M -$3.230M
Capital Expenditures $0.00 $0.00 -$10.00K
Free Cash Flow -$3.020M -$2.270M -$3.220M
YoY Change 251.16% -29.5% -62.51%

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CY2017Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
3000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-92000 USD
us-gaap Interest Paid
InterestPaid
354000 USD
us-gaap Interest Paid
InterestPaid
92000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
12216000 USD
CY2017Q2 us-gaap Liabilities
Liabilities
2243000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4700000 USD
CY2017Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8815000 USD
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LiabilitiesCurrent
11294000 USD
CY2017Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1844000 USD
CY2016Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
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2108000 USD
CY2017Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
331000 USD
us-gaap Proceeds From Issuance Of Common Stock
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9605000 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-630000 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
11636000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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8076000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-1051000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
262000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
0 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-8872000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-4851000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-3338000 USD
us-gaap Net Income Loss
NetIncomeLoss
-5843000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-1474000 USD
us-gaap Net Income Loss
NetIncomeLoss
6599000 USD
us-gaap Net Income Loss
NetIncomeLoss
6600000 USD
CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1372000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3684000 USD
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
719000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-832000 USD
CY2016Q4 us-gaap Notes Payable Current
NotesPayableCurrent
6650000 USD
CY2017Q2 us-gaap Notes Payable Current
NotesPayableCurrent
0 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
4625000 USD
us-gaap Operating Expenses
OperatingExpenses
9432000 USD
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
2441000 USD
us-gaap Operating Expenses
OperatingExpenses
4309000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4625000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-9432000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-2441000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-4309000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
177000 USD
CY2017Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
114000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
60000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
45000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
76000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
60000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-11000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-26000 USD
CY2016Q2 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
400000 USD
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
100000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
177000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
322000 USD
CY2017Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
11500000 USD
CY2017Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
11500000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
10900000 USD
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
14.96
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6078000 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
0.0178
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0136
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
246914 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
4024000 shares
us-gaap Stock Issued1
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249000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2317846 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
6094932 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
14000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.20
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
415000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
400000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.23
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.31
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
CY2016Q3 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
3700000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
164000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
121000 USD
CY2016Q2 us-gaap Recapitalization Costs
RecapitalizationCosts
0 USD
us-gaap Recapitalization Costs
RecapitalizationCosts
205000 USD
CY2017Q2 us-gaap Recapitalization Costs
RecapitalizationCosts
0 USD
us-gaap Recapitalization Costs
RecapitalizationCosts
0 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
3000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
0 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1526000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
7129000 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2503000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5104000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
839000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1266000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-316308000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-309709000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1094000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
572000 USD
us-gaap Stock Issued1
StockIssued1
0 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-7516000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
6572000 USD
CY2016Q4 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.1
CY2017Q2 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
800000 USD
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6182000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5843000 shares
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

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