2015 Q1 Form 10-K Financial Statement

#000161577415000575 Filed on March 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2014
Revenue $80.00K $370.0K $915.0K
YoY Change -18.06% 164.29% 70.71%
Cost Of Revenue $710.0K $1.180M $4.935M
YoY Change -22.7% -1280.0% 13.68%
Gross Profit -$630.0K -$810.0K -$4.020M
YoY Change -23.25% -437.5% 5.65%
Gross Profit Margin -787.5% -218.92% -439.34%
Selling, General & Admin $2.760M $2.610M $10.96M
YoY Change -13.75% -15.81% -29.45%
% of Gross Profit
Research & Development $240.0K $220.0K $1.641M
YoY Change -66.09% -59.26% -56.61%
% of Gross Profit
Depreciation & Amortization $320.0K $420.0K $1.785M
YoY Change -54.29% -35.38% -26.66%
% of Gross Profit
Operating Expenses $3.000M $2.830M $12.60M
YoY Change -23.3% -22.25% -38.01%
Operating Profit -$3.630M -$3.640M -$16.62M
YoY Change -23.29% 7.06% -31.13%
Interest Expense -$3.660M -$890.0K $2.380M
YoY Change -305354.38% 323.81% 321.99%
% of Operating Profit
Other Income/Expense, Net $20.00K $20.00K $2.477M
YoY Change -100.62% 100.0% -236.55%
Pretax Income -$7.270M -$4.500M -$14.15M
YoY Change -8.9% -2.39% -45.47%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$7.270M -$4.500M -$14.15M
YoY Change -8.9% -2.39% -45.49%
Net Earnings / Revenue -9087.5% -1216.22% -1545.9%
Basic Earnings Per Share
Diluted Earnings Per Share -$5.636M -$3.846M -$13.35M
COMMON SHARES
Basic Shares Outstanding 7.525M shares 6.037M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 Q4 2014
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.230M $11.43M $11.43M
YoY Change 1.35% 202.38% 202.38%
Cash & Equivalents $8.230M $11.43M $11.43M
Short-Term Investments
Other Short-Term Assets $450.0K $270.0K $270.0K
YoY Change -4.26% -69.32% -69.32%
Inventory $5.190M $5.275M $5.280M
Prepaid Expenses
Receivables $10.00K $220.0K $220.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $13.88M $17.20M $17.20M
YoY Change -2.73% 66.2% 66.18%
LONG-TERM ASSETS
Property, Plant & Equipment $1.620M $1.961M $1.960M
YoY Change -45.91% -46.87% -46.88%
Goodwill
YoY Change
Intangibles $37.00K
YoY Change -11.9%
Long-Term Investments
YoY Change
Other Assets $690.0K $48.00K $870.0K
YoY Change 1337.5% 0.0% 1640.0%
Total Long-Term Assets $2.340M $2.867M $2.870M
YoY Change -24.12% -24.17% -24.07%
TOTAL ASSETS
Total Short-Term Assets $13.88M $17.20M $17.20M
Total Long-Term Assets $2.340M $2.867M $2.870M
Total Assets $16.22M $20.07M $20.07M
YoY Change -6.53% 42.02% 42.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.320M $1.240M $1.190M
YoY Change 0.67% -16.16% -19.59%
Accrued Expenses $650.0K $842.0K $960.0K
YoY Change -20.72% -0.24% 14.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.880M $2.686M $2.190M
YoY Change -64.27% -52.48% -61.24%
LONG-TERM LIABILITIES
Long-Term Debt $4.710M $5.000M $5.000M
YoY Change
Other Long-Term Liabilities $90.00K $610.0K $610.0K
YoY Change -35.71% 238.89% 238.89%
Total Long-Term Liabilities $4.800M $5.108M $5.610M
YoY Change 3354.6% 2676.09% 3016.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.880M $2.686M $2.190M
Total Long-Term Liabilities $4.800M $5.108M $5.610M
Total Liabilities $8.680M $7.794M $7.790M
YoY Change -21.08% 33.55% 33.39%
SHAREHOLDERS EQUITY
Retained Earnings -$182.3M
YoY Change 8.41%
Common Stock $194.6M
YoY Change 10.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.540M $12.28M $12.28M
YoY Change
Total Liabilities & Shareholders Equity $16.22M $20.07M $20.07M
YoY Change -6.53% 42.02% 42.04%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2014
OPERATING ACTIVITIES
Net Income -$7.270M -$4.500M -$14.15M
YoY Change -8.9% -2.39% -45.49%
Depreciation, Depletion And Amortization $320.0K $420.0K $1.785M
YoY Change -54.29% -35.38% -26.66%
Cash From Operating Activities -$3.200M -$3.040M -$17.71M
YoY Change -55.06% -22.05% -8.76%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $20.00K
YoY Change
Cash From Investing Activities $0.00 $0.00 $20.00K
YoY Change -100.0% -100.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.46M
YoY Change -45.89%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 10.00K 25.34M
YoY Change -100.0% -99.81% 23.49%
NET CHANGE
Cash From Operating Activities -3.200M -3.040M -17.71M
Cash From Investing Activities 0.000 0.000 20.00K
Cash From Financing Activities 0.000 10.00K 25.34M
Net Change In Cash -3.200M -3.030M 7.650M
YoY Change -173.73% -361.21% -287.5%
FREE CASH FLOW
Cash From Operating Activities -$3.200M -$3.040M -$17.71M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$3.200M -$3.040M -$17.71M
YoY Change -55.06% -15.08% -28.0%

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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 USD
CY2013 mela Weighted Average Remaining Contractual Term In Years Granted
WeightedAverageRemainingContractualTermInYearsGranted
P9Y6M
CY2014 mela Weighted Average Remaining Contractual Term In Years Granted
WeightedAverageRemainingContractualTermInYearsGranted
P9Y4M24D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y4M24D
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y9M18D
CY2013 mela Common Stock And Warrants Issued In Private Placementvalue
CommonStockAndWarrantsIssuedInPrivatePlacementvalue
2573000 USD
CY2014 mela Warrants Issued In Private Placementvalue
WarrantsIssuedInPrivatePlacementvalue
-5585000 USD
CY2014 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
10353000 USD
CY2014 mela Redemption Of Convertible Preferred Stock In Connection With Private Plcaementvalue
RedemptionOfConvertiblePreferredStockInConnectionWithPrivatePlcaementvalue
1000 USD
CY2014 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 USD
CY2014 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
1589000 USD
CY2014 mela Exercise Of Warrntsvalue
ExerciseOfWarrntsvalue
0 USD
CY2014 mela Series Preferred Stock And Warrants Issued In Private Placementvalue
SeriesPreferredStockAndWarrantsIssuedInPrivatePlacementvalue
11458000 USD
CY2014Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
539000 USD
CY2014Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1329731 shares
CY2014 mela Conversion Of Convertible Preferred Stock Into Common Stock
ConversionOfConvertiblePreferredStockIntoCommonStock
513000 USD
CY2013 mela Conversion Of Convertible Preferred Stock Into Common Stock
ConversionOfConvertiblePreferredStockIntoCommonStock
0 USD
CY2014 mela Conversion Of Senior Secured Convertible Debentures Into Common Stock
ConversionOfSeniorSecuredConvertibleDebenturesIntoCommonStock
1589000 USD
CY2013 mela Conversion Of Senior Secured Convertible Debentures Into Common Stock
ConversionOfSeniorSecuredConvertibleDebenturesIntoCommonStock
0 USD
CY2014 us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
4565000 USD
CY2013 us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
0 USD
CY2013 mela Reclassification Of Property And Equipment To Inventory
ReclassificationOfPropertyAndEquipmentToInventory
5402000 USD
CY2013 us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
18000 USD
CY2014Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1308835 shares
CY2014 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
1.31
CY2014 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
68.90
CY2014Q4 mela Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number Vested
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumberVested
101376 shares
CY2013Q4 mela Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number Vested
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumberVested
126183 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
25.60
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.22
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.00
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
17000 USD
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
90000 shares
CY2013Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
90000 shares
CY2013Q2 mela Additional Stock Based Compensation Expenses
AdditionalStockBasedCompensationExpenses
423000 USD
CY2014 mela Share Based Compensation Arrangement By Share Based Payment Award Award Expiration Period Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardExpirationPeriodMaximum
P10Y
CY2014 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y
CY2013 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y
CY2014 mela Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period For Directors
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriodForDirectors
P1Y
CY2013 mela Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period For Directors
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriodForDirectors
P1Y
CY2014 mela Lapsing Of Restrictions Related To Restricted Stock Issued Start Date
LapsingOfRestrictionsRelatedToRestrictedStockIssuedStartDate
2013-04-25
CY2014Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
8410000 USD
CY2014 mela Issuance Cost Of Common Stock And Warrants
IssuanceCostOfCommonStockAndWarrants
992000 USD
CY2014Q4 us-gaap Inventory Gross
InventoryGross
6684000 USD
CY2013Q4 us-gaap Inventory Gross
InventoryGross
5956000 USD
CY2014Q4 mela Working Capital
WorkingCapital
14517000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 USD
CY2014Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
233000 USD
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
3017000 USD
CY2014 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
2784000 USD
CY2014 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.03
CY2013 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-6.05
CY2014Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
689000 USD
CY2013Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
0 USD
CY2014Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
785000 USD
CY2013Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
0 USD
CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
135000 USD
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
0 USD
CY2014Q3 mela Convertible Preferred Stock Initial Conversion Price
ConvertiblePreferredStockInitialConversionPrice
2.565
CY2014 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
1887000 USD
CY2013 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
0 USD
CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-16032000 USD
CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-25948000 USD
CY2014Q4 us-gaap Interest Expense Debt
InterestExpenseDebt
1200000 USD
CY2014Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
The reverse split took effect at the start of trading on July10, 2014 on a 1-for-10 split basis.
CY2014 mela Series B Convertible Preferred Stock Issued In Private Placement Value
SeriesBConvertiblePreferredStockIssuedInPrivatePlacementValue
1000 USD
CY2014 mela Payment Of Long Term Debt Expense
PaymentOfLongTermDebtExpense
1012000 USD
CY2013 mela Payment Of Long Term Debt Expense
PaymentOfLongTermDebtExpense
245000 USD
CY2014Q4 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
1589000 USD
CY2014Q4 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
619490 shares
CY2013Q4 mela Aggregate Intrinsic Value Exercised
AggregateIntrinsicValueExercised
17000 USD
CY2013Q4 mela Aggregate Intrinsic Value For Forfeited Or Expired
AggregateIntrinsicValueForForfeitedOrExpired
27000 USD
CY2013Q4 mela Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted Intrinsic Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedIntrinsicValue
0 USD
CY2014 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
103000 USD
CY2014 mela Increase In Additional Paid In Capital Convertible Debt With Conversion Feature
IncreaseInAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
0 USD
CY2014 mela Decrease In Additional Paid In Capital Convertible Debt With Conversion Feature
DecreaseInAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
0 USD
CY2014Q4 mela Deferred Tax Assets Warrant Liablity
DeferredTaxAssetsWarrantLiablity
3123000 USD
CY2013Q4 mela Deferred Tax Assets Warrant Liablity
DeferredTaxAssetsWarrantLiablity
0 USD
CY2014Q3 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
5847955 shares
CY2013 mela Payments Fo Rborrowings And Warrant Exercises
PaymentsFoRborrowingsAndWarrantExercises
0 USD
CY2014 mela Reclassification Of Property And Equipment To Inventory
ReclassificationOfPropertyAndEquipmentToInventory
0 USD

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