2016 Q1 Form 10-Q Financial Statement
#000091228216000555 Filed on February 09, 2016
Income Statement
Concept | 2016 Q1 | 2015 Q4 | 2015 Q1 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $550.0K | $1.550M | $610.0K |
YoY Change | -9.84% | 192.45% | -33.7% |
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | -$580.0K | $460.0K | -$70.00K |
YoY Change | 728.57% | -611.11% | -200.0% |
Operating Profit | -$459.6K | ||
YoY Change | -612.14% | ||
Interest Expense | -$80.00K | $60.29K | -$50.00K |
YoY Change | 60.0% | -69.89% | 150.0% |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | -$60.29K | $0.00 |
YoY Change | -69.19% | -100.0% | |
Pretax Income | $500.0K | -$519.9K | $20.00K |
YoY Change | 2400.0% | 390.73% | -122.22% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | 0.0% | 0.0% | |
Net Earnings | $500.0K | -$519.9K | $20.00K |
YoY Change | 2400.0% | 390.73% | -122.22% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $10.12K | -$11.73K | $463.20 |
COMMON SHARES | |||
Basic Shares Outstanding | 44.32M shares | 44.32M shares | 43.19M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2016 Q1 | 2015 Q4 | 2015 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $20.00K | $70.00K | $340.0K |
YoY Change | -94.12% | -91.14% | -10.53% |
Cash & Equivalents | $20.00K | $74.11K | $336.4K |
Short-Term Investments | |||
Other Short-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Inventory | |||
Prepaid Expenses | $3.750K | $1.875K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $30.00K | $77.86K | $338.2K |
YoY Change | -91.13% | -90.2% | -10.33% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $29.82M | $28.69M | $26.14M |
YoY Change | 14.08% | 63.1% | 65.13% |
Other Assets | $0.00 | $3.596M | |
YoY Change | -100.0% | 0.32% | |
Total Long-Term Assets | $29.82M | $28.69M | $26.37M |
YoY Change | 13.09% | 59.65% | 57.87% |
TOTAL ASSETS | |||
Total Short-Term Assets | $30.00K | $77.86K | $338.2K |
Total Long-Term Assets | $29.82M | $28.69M | $26.37M |
Total Assets | $29.85M | $28.77M | $26.71M |
YoY Change | 11.77% | 53.31% | 56.36% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $350.0K | $279.1K | $255.4K |
YoY Change | 37.06% | 117.64% | 382.59% |
Accrued Expenses | $0.00 | $826.7K | $181.9K |
YoY Change | -100.0% | 405.74% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $1.330M |
YoY Change | -100.0% | -100.0% | |
Long-Term Debt Due | $0.00 | $1.500M | |
YoY Change | -100.0% | 1566.67% | |
Total Short-Term Liabilities | $1.100M | $1.856M | $3.264M |
YoY Change | -66.3% | -37.74% | 2183.98% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $4.520M | $3.370M | $0.00 |
YoY Change | -100.0% | ||
Other Long-Term Liabilities | $190.0K | $110.0K | |
YoY Change | |||
Total Long-Term Liabilities | $4.710M | $3.477M | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.100M | $1.856M | $3.264M |
Total Long-Term Liabilities | $4.710M | $3.477M | |
Total Liabilities | $5.810M | $5.333M | $3.264M |
YoY Change | 77.99% | 78.91% | 104.16% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$868.9K | -$457.5K | |
YoY Change | 81.78% | 47.21% | |
Common Stock | $24.30M | $16.36M | |
YoY Change | 56179.18% | 8.39% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $24.03M | $23.44M | $23.44M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $29.85M | $28.77M | $26.71M |
YoY Change | 11.77% | 53.31% | 56.36% |
Cashflow Statement
Concept | 2016 Q1 | 2015 Q4 | 2015 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $500.0K | -$519.9K | $20.00K |
YoY Change | 2400.0% | 390.73% | -122.22% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$1.200M | -$780.0K | -$590.0K |
YoY Change | 103.39% | -510.53% | -32.18% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $230.0K | $0.00 |
YoY Change | -253.33% | ||
Cash From Investing Activities | $0.00 | $230.0K | $0.00 |
YoY Change | -253.33% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 1.150M | 540.0K | 140.0K |
YoY Change | 721.43% | -14.29% | -87.5% |
NET CHANGE | |||
Cash From Operating Activities | -1.200M | -780.0K | -590.0K |
Cash From Investing Activities | 0.000 | 230.0K | 0.000 |
Cash From Financing Activities | 1.150M | 540.0K | 140.0K |
Net Change In Cash | -50.00K | -10.00K | -450.0K |
YoY Change | -88.89% | -101.49% | -280.0% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.200M | -$780.0K | -$590.0K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
5241 | USD | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
13388 | USD | |
us-gaap |
Interest Expense
InterestExpense
|
150887 | USD | |
us-gaap |
Interest Expense
InterestExpense
|
233442 | USD | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
USD | ||
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
6303 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-145646 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-213751 | USD | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-411412 | USD | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-167222 | USD | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | ||
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-411412 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-167222 | USD | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | ||
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3043267 | USD | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1726169 | USD | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-265766 | USD | |
CY2015Q4 | us-gaap |
Assets Current
AssetsCurrent
|
77864 | USD |
CY2015Q1 | us-gaap |
Assets Current
AssetsCurrent
|
338245 | USD |
CY2015Q4 | us-gaap |
Life Settlement Contracts Investment Method Carrying Amount
LifeSettlementContractsInvestmentMethodCarryingAmount
|
28690516 | USD |
CY2015Q1 | us-gaap |
Life Settlement Contracts Investment Method Carrying Amount
LifeSettlementContractsInvestmentMethodCarryingAmount
|
22544635 | USD |
CY2015Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
USD | |
CY2015Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
3596386 | USD |
CY2015Q4 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
USD | |
CY2015Q1 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
211000 | USD |
CY2015Q4 | us-gaap |
Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
|
USD | |
CY2015Q1 | us-gaap |
Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
|
16428 | USD |
CY2015Q4 | us-gaap |
Assets Noncurrent
AssetsNoncurrent
|
28690516 | USD |
CY2015Q1 | us-gaap |
Assets Noncurrent
AssetsNoncurrent
|
26368449 | USD |
CY2015Q4 | us-gaap |
Assets
Assets
|
28768380 | USD |
CY2015Q1 | us-gaap |
Assets
Assets
|
26706694 | USD |
CY2015Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
279128 | USD |
CY2015Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
255361 | USD |
CY2015Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
826665 | USD |
CY2015Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
181917 | USD |
CY2015Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
USD | |
CY2015Q1 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
1326876 | USD |
CY2015Q4 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
USD | |
CY2015Q1 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
1500000 | USD |
CY2015Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
1855793 | USD |
CY2015Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
3264154 | USD |
CY2015Q4 | us-gaap |
Liabilities
Liabilities
|
5332593 | USD |
CY2015Q1 | us-gaap |
Liabilities
Liabilities
|
3264154 | USD |
CY2015Q4 | us-gaap |
Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
|
700000 | USD |
CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2015Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Noncurrent
AccountsPayableAndAccruedLiabilitiesNoncurrent
|
109800 | USD |
CY2015Q4 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
3476800 | USD |
CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2015Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2015Q1 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
USD | |
CY2015Q4 | us-gaap |
Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
|
2667000 | USD |
CY2015Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
43186 | USD |
CY2015Q4 | sund |
Additional Paid In Capital Stock To Be Issued
AdditionalPaidInCapitalStockToBeIssued
|
USD | |
CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-868940 | USD |
CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
28768380 | USD |
CY2015Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
336370 | USD |
CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
44222191 | shares |
CY2015Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
43185941 | shares |
CY2015Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
44222 | USD |
CY2015Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
24260505 | USD |
CY2015Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
16316882 | USD |
CY2015Q1 | sund |
Additional Paid In Capital Stock To Be Issued
AdditionalPaidInCapitalStockToBeIssued
|
7540000 | USD |
CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23435787 | USD |
CY2015Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23442540 | USD |
CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
74114 | USD |
CY2015Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
26706694 | USD |
CY2015Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
3750 | USD |
CY2015Q1 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
1875 | USD |
CY2015Q1 | us-gaap |
Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
|
USD | |
CY2015Q1 | us-gaap |
Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
|
USD | |
CY2015Q1 | us-gaap |
Accounts Payable And Accrued Liabilities Noncurrent
AccountsPayableAndAccruedLiabilitiesNoncurrent
|
USD | |
CY2015Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2015Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
CY2015Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-457528 | USD |
CY2015Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2015Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
46529 | USD | |
CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
44222191 | shares |
CY2015Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2015Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2015Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2015Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2015Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
43185941 | shares |
us-gaap |
Interest Income Operating
InterestIncomeOperating
|
2777501 | USD | |
us-gaap |
Interest Income Operating
InterestIncomeOperating
|
1772698 | USD | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
43122354 | shares | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
44029347 | shares | |
CY2014Q4 | us-gaap |
Interest Income Operating
InterestIncomeOperating
|
616547 | USD |
CY2015Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-459645 | USD |
CY2015Q4 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
USD | |
CY2014Q4 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
4568 | USD |
CY2015Q4 | us-gaap |
Interest Expense
InterestExpense
|
60294 | USD |
CY2014Q4 | us-gaap |
Interest Expense
InterestExpense
|
200270 | USD |
CY2015Q4 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-60294 | USD |
CY2014Q4 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-195702 | USD |
CY2015Q4 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-519939 | USD |
CY2014Q4 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-105952 | USD |
CY2015Q4 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
CY2015Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-519939 | USD |
CY2014Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-105952 | USD |
CY2015Q4 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | |
CY2014Q4 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | |
CY2015Q4 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
44315941 | shares |
CY2014Q4 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
43185941 | shares |
CY2014Q4 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
404659 | USD | |
us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
320333 | USD | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
626914 | USD | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
794598 | USD | |
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
-16428 | USD | |
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
4847 | USD | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
1875 | USD | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
1750 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
34430 | USD | |
us-gaap |
Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
|
-550000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
211000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
400000 | USD | |
us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
1167000 | USD | |
us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
1272000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
1117000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
1422000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-262256 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
415261 | USD | |
CY2014Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
375212 | USD |
CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
790473 | USD |
us-gaap |
Notes Reduction
NotesReduction
|
USD | ||
us-gaap |
Notes Reduction
NotesReduction
|
100000 | USD | |
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
700000 | USD | |
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
USD | ||
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
750000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
USD | ||
us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
1500000 | USD | |
us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
USD | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
150000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
USD | ||
sund |
Refund Of Advance For Investments In Net Insurance Benefits
RefundOfAdvanceForInvestmentsInNetInsuranceBenefits
|
854920 | USD | |
sund |
Refund Of Advance For Investments In Net Insurance Benefits
RefundOfAdvanceForInvestmentsInNetInsuranceBenefits
|
904274 | USD | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
2777501 | USD | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
1772698 | USD | |
us-gaap |
Transfer To Investments
TransferToInvestments
|
3368380 | USD | |
us-gaap |
Transfer To Investments
TransferToInvestments
|
USD | ||
CY2015Q2 | sund |
Face Value Of Collateral Against Cash Advances
FaceValueOfCollateralAgainstCashAdvances
|
94000000 | USD |
CY2015Q2 | sund |
Life Settlement Contracts Matured During Period
LifeSettlementContractsMaturedDuringPeriod
|
10000000 | USD |
CY2015Q3 | sund |
Face Value Of Collateral Against Cash Advances
FaceValueOfCollateralAgainstCashAdvances
|
84000000 | USD |
CY2015Q4 | sund |
Collateral As Percentage Of Ni Bs
CollateralAsPercentageOfNIBs
|
0.81 | pure |
us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>(2) NEW ACCOUNTING PRONOUNCEMENTS</strong></font></p> <p style="margin: 0pt; font-family: 'times new roman';"> <br/><font style="font-size: 10pt;">In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2014-09 – Revenue from Contracts with Customers, which provides a single, comprehensive revenue recognition model for all contracts with customers. The core principal of this ASU is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In July 2015, the FASB deferred the effective date of this standard. As a result, the standard and related amendments will be effective for the Company for its fiscal year beginning April 1, 2018, including interim periods within that fiscal year. Early application is permitted, but not before the original effective date of April 1, 2017. Entities are allowed to transition to the new standard by either retrospective application or recognizing the cumulative effect. The Company is currently evaluating the guidance, including which transition approach will be applied and the estimated impact it will have on our consolidated financial statements. The Company does not believe adoption of this ASU will have a material impact on its financial statements.</font></p> <p><font style="font-size: 10pt;">In August 2014, the FASB issued ASU 2014-15 Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern.<br/> <br/>The new standard provides guidance around management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company's financial statements.</font></p> <p><font style="font-size: 10pt;">In April, 2015, the FASB issued ASU 2015-03: Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30). This update requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. Under current standards, debt issuance costs are generally recorded as an asset and amortization of these deferred financing costs is recorded in interest expense. Under the new standard, debt issuance costs will continue to be amortized over the life of the debt instrument and amortization will continue to be recorded in interest expense. ASU 2015-03 is effective for the Company on April 1, 2016, and will be applied on a retrospective basis.</font></p> <p><font style="font-size: 10pt;">In May 2015, the FASB issued ASU 2015-08, Business Combinations (Topic 805): Pushdown Accounting. This Accounting Standards Update amends various SEC paragraphs pursuant to the issuance of Staff Accounting Bulletin No.115. The Company notes the Update is effective immediately and will apply to the Company if the Company acquires a business.</font></p> <p><font style="font-size: 10pt;">In August 2015, the FASB issued ASU 2015-15, Interest-Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. This Update was issued to make some fairly minor wording adjustments to ASC 835-30. The new wording, presented as paragraph 835-30-S45-1, recognizes that ASU 2015-13 does not address the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. As stated below, ASU 2015-13 requires companies to recognize debt issuance costs as a reduction of the carrying amount of the associated debt liability. ASU 2015-15 states that debt issuance costs related to line-of-credit arrangements may be recognized as an asset and amortized over the term of the line-of-credit arrangement, even if the line-of-credit does not carry a balance. The Company notes that this guidance does apply to its reporting requirements and will implement the new guidance accordingly.</font></p> <p><font style="font-size: 10pt;">In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. This Update, which is part of the FASB's larger Simplification Initiative project aimed at reducing the cost and complexity of certain areas of the accounting codification, requires that an acquirer recognize adjustments to provisional amounts identified during the measurement period in the reporting period in which the adjustment amounts are determined. Furthermore, the acquirer should record in the same period's financial statements, the effect on earnings from any changes in depreciation, amortization or other items impacting income. These changes resulting from adjustments to provisional amounts should be calculated as if the accounting had been completed at the actual acquisition date. Lastly, the Update requires the acquirer to present separately on the face of the income statement or in the footnote disclosures the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the actual acquisition date. This Update is effective for fiscal years beginning after December 15, 2016. The amendments in this Update should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this Update, with earlier application permitted. The amendments are effective for public business entities for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. All entities have the option of adopting the new requirements as of an earlier date for financial statements that have not been previously issued. Applicable disclosures for a change in an accounting principle are required in the year of adoption, including interim periods. Early adoption of the amendments in this Update is permitted for financial statements that have not been previously issued. The Company notes that this guidance may apply to its reporting requirements and will implement the new guidance accordingly.</font></p> <p><font style="font-size: 10pt;">In November 2015, the FASB issued ASU 2015-17 regarding Balance Sheet Classification of Deferred Taxes, which simplifies the presentation of deferred income taxes by requiring all deferred income tax liabilities and assets be classified as noncurrent on the consolidated balance sheets. The guidance is</font><br/><font style="font-size: 10pt;">effective for fiscal years and interim reporting periods within those years beginning after December 15, 2016, with early adoption permitted. The standard would be effective for the Company's fiscal year beginning April 1, 2017, however, we expect to early adopt the provisions of this standard effective January 1, 2016 on a prospective basis. The Company does not expect the early adoption of this guidance to have a material effect on our consolidated financial statements.<br/> <br/>In January 2016, the FASB issued ASI 2016-01 regarding Financial Instruments, which amended guidance on the classification and measurement of financial instruments. Under the new guidance, entities will be required to measure equity investments that are not consolidated or accounted for under the equity method at fair value with any changes in fair value recorded in net income, unless the entity has elected the new practicability exception. For financial liabilities measured using the fair value option, entities will be required to separately present in other comprehensive income the portion of the changes in fair value attributable to instrument-specific credit risk. Additionally, the guidance amends certain disclosure requirements associated with the fair value of financial instruments. The standard will be effective for the Company's fiscal year beginning April 1, 2018, including interim reporting periods within that fiscal year. The Company does not expect the early adoption of this guidance to have a material effect on our consolidated financial statements.</font></p> <p><font style="font-size: 10pt;">The Company has reviewed all other recently issued, but not yet adopted, accounting standards, in order to determine their effects, if any, on its results of operations, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.</font></p> </div> | ||
us-gaap |
Impairment Of Investments
ImpairmentOfInvestments
|
USD | ||
CY2015Q3 | sund |
Proceeds Allocated To Reimbursement
ProceedsAllocatedToReimbursement
|
547308 | USD |
CY2015Q3 | sund |
Proceeds Allocated To Note Receivable Payoff
ProceedsAllocatedToNoteReceivablePayoff
|
239415 | USD |
CY2015Q3 | sund |
Proceeds Allocated To Refund Advance Payments
ProceedsAllocatedToRefundAdvancePayments
|
307612 | USD |
CY2015Q3 | sund |
Face Value Of Collateral Against Cash Advances
FaceValueOfCollateralAgainstCashAdvances
|
3368380 | USD |
CY2014Q1 | us-gaap |
Life Settlement Contracts Investment Method Carrying Amount
LifeSettlementContractsInvestmentMethodCarryingAmount
|
12243411 | USD |
us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
3368380 | USD | |
CY2015 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
7846746 | USD |
CY2015 | us-gaap |
Interest Income Operating
InterestIncomeOperating
|
2454478 | USD |
sund |
Distribution Of Life Settlement Contract Investments
DistributionOfLifeSettlementContractInvestments
|
USD | ||
CY2015 | sund |
Distribution Of Life Settlement Contract Investments
DistributionOfLifeSettlementContractInvestments
|
USD | |
CY2015Q4 | sund |
Ownership Percentage Interest In Ni Bs
OwnershipPercentageInterestInNIBs
|
1.00 | pure |
CY2015Q4 | sund |
Advance For Investments Cash Advances Rate
AdvanceForInvestmentsCashAdvancesRate
|
1.00 | pure |
sund |
Net Insurance Benefits Received
NetInsuranceBenefitsReceived
|
90600000 | USD | |
sund |
Percentage Of Net Insurance Benefits Received
PercentageOfNetInsuranceBenefitsReceived
|
0.2265 | pure | |
CY2015Q4 | sund |
Net Insurance Benefits Future Amount
NetInsuranceBenefitsFutureAmount
|
400000000 | USD |
CY2015Q2 | us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
93750 | shares |
CY2015Q2 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
750000 | USD |
CY2015Q3 | sund |
Option Expense Amortized
OptionExpenseAmortized
|
98655 | USD |
CY2015Q3 | sund |
Quarterly Amortization Expense Going Forward
QuarterlyAmortizationExpenseGoingForward
|
78728 | USD |
dei |
Entity Registrant Name
EntityRegistrantName
|
Sundance Strategies, Inc. | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001171838 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
sund |
Liquidity And Capital Requirements Disclosure Textblock
LiquidityAndCapitalRequirementsDisclosureTextblock
|
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<w:LsdException Locked="false" Priority="46" Name="List Table 1 Light Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="51" Name="List Table 6 Colorful Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="52" Name="List Table 7 Colorful Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="46" Name="List Table 1 Light Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="51" Name="List Table 6 Colorful Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="52" Name="List Table 7 Colorful Accent 6"></w:LsdException> </w:LatentStyles> </xml><![endif]--> <!-- [if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman",serif;} </style> <![endif]--></b></font></p> <p style="text-align: justify; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">Under the current business plan, the Company purchases life insurance policies and residual interests in or financial products tied to life insurance policies when they fit its model and its cash flows are sufficient to fund those purchases (with exception of the Del Mar ATA wherein the Company committed to purchase a certain number of Qualified NIBs as Del Mar made them available). The Company expects to finance NIB purchases, as well as its operating working capital requirements, with proceeds from planned public and/or private offerings of its securities and debt financing. There can be no assurance that the Company will be successful in the anticipated equity and debt offerings or that it will be successful in raising additional capital in the future on terms acceptable to the Company, or at all.</font></p> <p><font style="font-size: 10pt;">If the Company is unable to raise sufficient capital through the planned securities and debt offerings or other alternative sources of financing, management will curtail NIB purchases. Under this plan, expenditures for NIBs will be curtailed. The Company believes that it will be able to fund its operating working capital requirements with existing lines-of-credit and debentures agreements.</font></p> <p><font style="font-size: 10pt;">The accompanying financial statements have been prepared on a going concern basis under which the Company is expected to be able to realize its assets and satisfy its liabilities in the normal course of business. To continue as a going concern beyond the period ended December 31, 2016, and in order to continue to purchase NIBs, the Company will need to complete planned equity and debt offerings or obtain alternative sources of financing. Absent additional financing, the Company will not have the resources to execute its current business plan.</font></p> </div> | ||
sund |
Convertible Debenture Terms Of Conversion
ConvertibleDebentureTermsOfConversion
|
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">The number of shares issuable at conversion shall be determined by the quotient obtained by dividing the outstanding principal and accrued and unpaid interest by 90% of the 90 day average closing price of the Company's common stock from the date the notice of conversion is received</div> | ||
sund |
Convertible Debenture Minimum Conversion Price Per Share
ConvertibleDebentureMinimumConversionPricePerShare
|
1.00 | ||
us-gaap |
Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
|
USD | ||
us-gaap |
Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
|
150000 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
81621 | USD | |
sund |
Non Cash Investing And Financing Activities Adjustments To Subscription Receivable And Additional Paid In Capital
NonCashInvestingAndFinancingActivitiesAdjustmentsToSubscriptionReceivableAndAdditionalPaidInCapital
|
1500 | USD | |
dei |
Document Period End Date
DocumentPeriodEndDate
|
2015-12-31 | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--03-31 | ||
CY2016Q1 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
44315941 | shares |
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2016 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
CY2015Q4 | sund |
Convertible Debenture Interest Rate
ConvertibleDebentureInterestRate
|
0.08 | pure |
CY2015Q4 | sund |
Convertible Debenture Borrowing Capacity
ConvertibleDebentureBorrowingCapacity
|
3000000 | USD |
CY2015Q4 | sund |
Convertible Debenture Amount Borrowed
ConvertibleDebentureAmountBorrowed
|
700000 | USD |
us-gaap |
Interest Paid
InterestPaid
|
USD | ||
sund |
Non Cash Investing And Financing Activities Adjustments To Subscription Receivable And Additional Paid In Capital
NonCashInvestingAndFinancingActivitiesAdjustmentsToSubscriptionReceivableAndAdditionalPaidInCapital
|
USD | ||
CY2015Q4 | us-gaap |
Financial Instruments Subject To Mandatory Redemption Redeemable Within One Year
FinancialInstrumentsSubjectToMandatoryRedemptionRedeemableWithinOneYear
|
750000 | USD |
CY2015Q1 | us-gaap |
Financial Instruments Subject To Mandatory Redemption Redeemable Within One Year
FinancialInstrumentsSubjectToMandatoryRedemptionRedeemableWithinOneYear
|
USD |