2017 Q2 Form 10-Q Financial Statement
#000114420418004437 Filed on January 30, 2018
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> – 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 |