2018 Q1 Form 10-Q Financial Statement

#000144637118000027 Filed on May 11, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.728M $3.060M
YoY Change -43.53% 5.48%
Operating Profit $25.00K -$420.0K
YoY Change -105.95% 117.62%
Interest Expense $271.0K $575.0K
YoY Change -52.87% -4.17%
% of Operating Profit 1084.0%
Other Income/Expense, Net
YoY Change
Pretax Income $23.00K $6.198M
YoY Change -99.63% -3998.11%
Income Tax $0.00 $19.00K
% Of Pretax Income 0.0% 0.31%
Net Earnings $22.00K $5.949M
YoY Change -99.63% -9542.86%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 10.99M shares 10.94M shares
Diluted Shares Outstanding 10.99M shares 10.94M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $3.132M $3.030M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.592M $2.795M
YoY Change -7.26% -57.94%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $111.8M $134.7M
YoY Change -17.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $59.29M $82.17M
YoY Change -27.84%
SHAREHOLDERS EQUITY
Retained Earnings -$44.71M -$45.38M
YoY Change -1.48%
Common Stock $111.0K $111.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $51.43M $50.56M
YoY Change
Total Liabilities & Shareholders Equity $111.8M $134.7M
YoY Change -17.03%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $22.00K $5.949M
YoY Change -99.63% -9542.86%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid $673.0K $681.0K
YoY Change -1.17% -1.02%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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230000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000 USD
CY2018Q1 us-gaap Net Rentable Area
NetRentableArea
302637 sqft
CY2017Q4 us-gaap Notes Payable
NotesPayable
42223000 USD
CY2018Q1 us-gaap Notes Payable
NotesPayable
38330000 USD
CY2018Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
10
CY2018Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
4
CY2017Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
438000 USD
CY2018Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
418000 USD
CY2017Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
946000 USD
CY2018Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
650000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
3060000 USD
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
1728000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-420000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
25000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
18580000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
1746000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
2006000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
1989000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
2229000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
2395000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
8215000 USD
CY2017Q1 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
2640000 USD
CY2018Q1 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
1753000 USD
CY2017Q4 us-gaap Other Liabilities
OtherLiabilities
387000 USD
CY2018Q1 us-gaap Other Liabilities
OtherLiabilities
411000 USD
CY2017Q1 us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
1437000 USD
CY2018Q1 us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
1222000 USD
CY2017Q1 us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
PaymentsForLeasingCostsCommissionsAndTenantImprovements
383000 USD
CY2018Q1 us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
PaymentsForLeasingCostsCommissionsAndTenantImprovements
33000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
203000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
65000 USD
CY2017Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
1000 USD
CY2018Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
681000 USD
CY2018Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
673000 USD
CY2017Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1314000 USD
CY2018Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2017Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
17783000 USD
CY2018Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
200000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
368000 USD
CY2017Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
1998000 USD
CY2018Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
111000 USD
CY2017Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
27400000 USD
CY2018Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1600000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
18543000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
0 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
6179000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
23000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
33000 USD
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
30000 USD
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2579000 USD
CY2018Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2578000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
46033000 USD
CY2018Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
44394000 USD
CY2017Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
43454000 USD
CY2018Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
41816000 USD
CY2017Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
28049000 USD
CY2018Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
816000 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
803000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-44741000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-44710000 USD
CY2017Q4 us-gaap Security Deposit
SecurityDeposit
200000 USD
CY2018Q1 us-gaap Security Deposit
SecurityDeposit
200000 USD
CY2018Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
65000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
51467000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
51433000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
52518000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
52471000 USD
CY2017Q1 us-gaap Straight Line Rent
StraightLineRent
22000 USD
CY2018Q1 us-gaap Straight Line Rent
StraightLineRent
25000 USD
CY2017Q4 us-gaap Tenant Improvements
TenantImprovements
1188000 USD
CY2018Q1 us-gaap Tenant Improvements
TenantImprovements
1147000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10937451 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10988124 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10937451 shares
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10988124 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10937451 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10988124 shares
CY2018Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-top:8px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified to conform with current period&#8217;s presentation as a result of adoption of ASU 2016-18. See Cash, Cash Equivalents and Restricted Cash section above for discussion of the impact of these reclassifications. The remaining reclassifications had no effect on the Company&#8217;s financial condition, results of operations or cash flows.</font></div></div>

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