2017 Q2 Form 10-Q Financial Statement

#000114420418004437 Filed on January 30, 2018

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.00K $10.00K $20.00K
YoY Change -50.0% 0.0% 100.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $10.00K $10.00K $20.00K
YoY Change -50.0% -50.0% 100.0%
Operating Profit -$6.243K -$22.79K
YoY Change -72.61% 235.72%
Interest Expense $297.00 $0.00 $310.00
YoY Change -4.19% -6.06%
% of Operating Profit
Other Income/Expense, Net -$297.00 $0.00 -$310.00
YoY Change -4.19% -100.0% -6.06%
Pretax Income -$10.00K -$10.00K -$20.00K
YoY Change -50.0% -50.0% 100.0%
Income Tax
% Of Pretax Income
Net Earnings -$6.540K -$10.00K -$23.10K
YoY Change -71.69% 0.0% 224.51%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 -$2.849K -$0.01
COMMON SHARES
Basic Shares Outstanding 3.513M shares 3.513M shares
Diluted Shares Outstanding 3.513M shares 3.513M shares

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $0.00
YoY Change
Cash & Equivalents $10.00 $280.00 $168.00
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $0.00 $280.00 $0.00
YoY Change -32.69% -100.0%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $0.00 $280.00 $0.00
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $0.00 $280.00 $0.00
YoY Change -32.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0K $190.0K $180.0K
YoY Change 11.11% 11.76% 38.46%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.060M $2.060M $2.030M
YoY Change 1.48% 1.98% 2.53%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.260M $2.255M $2.220M
YoY Change 1.8% 2.78% 4.72%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.260M $2.255M $2.220M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.260M $2.255M $2.220M
YoY Change 1.8% 2.78% 4.85%
SHAREHOLDERS EQUITY
Retained Earnings -$4.938M
YoY Change 1.25%
Common Stock $35.53K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $42.45K
YoY Change 0.0%
Treasury Stock Shares 39.98K shares 39.98K shares 39.98K shares
Shareholders Equity -$2.260M -$2.254M -$2.220M
YoY Change
Total Liabilities & Shareholders Equity $0.00 $280.00 $0.00
YoY Change -32.69% -100.0%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q2
OPERATING ACTIVITIES
Net Income -$6.540K -$10.00K -$23.10K
YoY Change -71.69% 0.0% 224.51%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$3.270K $0.00 -$18.10K
YoY Change -81.93% -100.0% 80.98%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $3.000K 0.000 $17.85K
YoY Change -83.19% -100.0% 78.5%
NET CHANGE
Cash From Operating Activities -$3.270K 0.000 -$18.10K
Cash From Investing Activities 0.000
Cash From Financing Activities $3.000K 0.000 $17.85K
Net Change In Cash -$270.00 0.000 -$248.00
YoY Change 8.87%
FREE CASH FLOW
Cash From Operating Activities -$3.270K $0.00 -$18.10K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3561 USD
CY2016Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3129 USD
CY2017Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-291 USD
CY2016Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1875 USD
CY2017Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3270 USD
CY2016Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18098 USD
CY2017Q2 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
3000 USD
CY2016Q2 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
17850 USD
CY2016Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17850 USD
CY2017Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3000 USD
CY2017Q2 us-gaap Interest Paid
InterestPaid
297 USD
CY2016Q2 us-gaap Interest Paid
InterestPaid
310 USD
CY2017Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2016Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2017Q2 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
1984-05-29
CY2017Q2 usbl Working Capital Deficit
WorkingCapitalDeficit
2260837 USD
CY2017Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1015000 USD
CY2017Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2900000 USD
CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1105679 shares
CY2017Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
55630 USD
CY2017Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
54580 USD
CY2017Q2 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
8024 USD
CY2017Q1 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
8143 USD
CY2017Q2 us-gaap Accrued Rent Current
AccruedRentCurrent
111000 USD
CY2017Q1 us-gaap Accrued Rent Current
AccruedRentCurrent
108000 USD
CY2017Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3664 USD
CY2017Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3664 USD
CY2017Q2 us-gaap Interest Payable Current
InterestPayableCurrent
13562 USD
CY2017Q1 us-gaap Interest Payable Current
InterestPayableCurrent
13562 USD
CY2017Q2 us-gaap Deposits
Deposits
2725 USD
CY2017Q1 us-gaap Deposits
Deposits
2725 USD
CY2017Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
748 USD
CY2017Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1118 USD
CY2017Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
2059044 USD
CY2017Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
2056044 USD
CY2017Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
0 USD
CY2017Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
0 USD
CY2017Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2017Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2017Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3552502 shares
CY2017Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3552502 shares
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1105679 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1105679 shares
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1105679 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1105679 shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
39975 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
39975 shares
CY2017Q2 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><i>Estimates</i></b> &#150; The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q2 us-gaap Revenues
Revenues
0 USD
CY2016Q2 us-gaap Revenues
Revenues
0 USD
CY2017Q2 usbl Operating Losses Carryforward Expiration Date
OperatingLossesCarryforwardExpirationDate
2019 to 2037
CY2016Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-248 USD
CY2017Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-270 USD
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
416 USD
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
168 USD
CY2016Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1105679 shares

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