2018 Q4 Form 10-Q Financial Statement

#000101749118000103 Filed on October 31, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 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 -$3.510M $1.930M $2.410M
YoY Change -245.64% 9.66% 26.84%
% of Gross Profit
Research & Development $769.0K $240.0K
YoY Change -60.77% -60.66%
% of Gross Profit
Depreciation & Amortization $20.00K
YoY Change -118.18%
% of Gross Profit
Operating Expenses -$3.510M $2.703M $2.650M
YoY Change -232.45% -27.26% 5.58%
Operating Profit -$2.703M
YoY Change -27.26%
Interest Expense -$510.0K $0.00 -$50.00K
YoY Change 920.0% -100.0% -102.27%
% of Operating Profit
Other Income/Expense, Net $890.0K -$135.0K $100.0K
YoY Change 790.0% -53.92%
Pretax Income $3.890M -$2.840M -$2.600M
YoY Change -249.62% -29.18% 712.5%
Income Tax
% Of Pretax Income
Net Earnings $3.910M -$2.838M -$2.450M
YoY Change -259.59% -25.94% 716.67%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $382.6K -$3.595M -$4.804M
COMMON SHARES
Basic Shares Outstanding 28.17M shares 23.44M shares 15.22M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.00K $5.280M $6.330M
YoY Change -99.37% -37.59% 202.87%
Cash & Equivalents $5.283M $6.331M
Short-Term Investments
Other Short-Term Assets $150.0K $200.0K $260.0K
YoY Change -42.31% -13.04% -83.23%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $190.0K $5.481M $6.592M
YoY Change -97.12% -36.91% 81.4%
LONG-TERM ASSETS
Property, Plant & Equipment $46.00K $79.00K
YoY Change -54.0% -51.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $37.00K $35.00K
YoY Change 5.71% -41.67%
Total Long-Term Assets $0.00 $83.00K $114.0K
YoY Change -100.0% -38.52% -89.31%
TOTAL ASSETS
Total Short-Term Assets $190.0K $5.481M $6.592M
Total Long-Term Assets $0.00 $83.00K $114.0K
Total Assets $190.0K $5.564M $6.706M
YoY Change -97.17% -36.94% 42.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.220M $320.0K $60.00K
YoY Change 3600.0% 23.08% -92.11%
Accrued Expenses $240.0K $766.0K $650.0K
YoY Change -63.08% -2.17% -51.24%
Deferred Revenue $0.00 $12.00K
YoY Change
Short-Term Debt $2.440M $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $2.440M
YoY Change
Total Short-Term Liabilities $4.900M $1.425M $1.583M
YoY Change 209.54% -21.44% -85.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $26.00K $58.00K
YoY Change -100.0% -51.85% -23.68%
Total Long-Term Liabilities $0.00 $26.00K $58.00K
YoY Change -100.0% -51.85% -23.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.900M $1.425M $1.583M
Total Long-Term Liabilities $0.00 $26.00K $58.00K
Total Liabilities $4.900M $1.451M $2.335M
YoY Change 109.85% -42.05% -80.89%
SHAREHOLDERS EQUITY
Retained Earnings -$323.4M -$316.0M
YoY Change 3.14% -0.1%
Common Stock $327.5M $320.4M
YoY Change 2.38% 3.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.710M $4.113M $4.371M
YoY Change
Total Liabilities & Shareholders Equity $190.0K $5.564M $6.706M
YoY Change -97.17% -36.94% 42.68%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income $3.910M -$2.838M -$2.450M
YoY Change -259.59% -25.94% 716.67%
Depreciation, Depletion And Amortization $20.00K
YoY Change -118.18%
Cash From Operating Activities -$400.0K -$540.0K -$2.480M
YoY Change -83.87% -82.12% -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 100.0K 700.0K 130.0K
YoY Change -23.08% -79.53% -115.66%
NET CHANGE
Cash From Operating Activities -400.0K -540.0K -2.480M
Cash From Investing Activities 210.0K
Cash From Financing Activities 100.0K 700.0K 130.0K
Net Change In Cash -300.0K 160.0K -2.140M
YoY Change -85.98% -75.38% -39.38%
FREE CASH FLOW
Cash From Operating Activities -$400.0K -$540.0K -$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
NetCashProvidedByUsedInFinancingActivities
2369000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5430000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
12000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-8073000 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
-6475000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-3832000 USD
us-gaap Net Income Loss
NetIncomeLoss
2767000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-2838000 USD
us-gaap Net Income Loss
NetIncomeLoss
-7386000 USD
CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-293000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1125000 USD
CY2018Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-135000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-70000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
3716000 USD
us-gaap Operating Expenses
OperatingExpenses
8025000 USD
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
2703000 USD
us-gaap Operating Expenses
OperatingExpenses
7292000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3716000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-8025000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-2703000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-7292000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
14000 USD
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
92000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
35000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
37000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
58000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
26000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-26000 USD
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000 USD
CY2016Q3 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
400000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1235000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
637000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
261000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
198000 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
10733000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4792000 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
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1275000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
46000 USD
CY2017Q3 us-gaap Recapitalization Costs
RecapitalizationCosts
0 USD
us-gaap Recapitalization Costs
RecapitalizationCosts
0 USD
CY2018Q1 us-gaap Recapitalization Costs
RecapitalizationCosts
100000 USD
CY2018Q2 us-gaap Recapitalization Costs
RecapitalizationCosts
17000 USD
CY2018Q3 us-gaap Recapitalization Costs
RecapitalizationCosts
135000 USD
us-gaap Recapitalization Costs
RecapitalizationCosts
293000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
7129000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1960000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3226000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
769000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1148000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-315987000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-323373000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
903000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
985000 USD
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
3210000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
10262000 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
7084000 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
13095000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
33000 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
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1031000 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.37
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.56
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.40
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.11
CY2018Q3 us-gaap Share Based Goods And Nonemployee Services Transaction Modification Of Terms Incremental Compensation Cost
ShareBasedGoodsAndNonemployeeServicesTransactionModificationOfTermsIncrementalCompensationCost
200000 USD
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
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
4113000 USD
CY2017Q2 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
800000 USD
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
13208000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10781000 shares
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23774000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21038000 shares

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