$USIO
Usio, Inc.

2015 Q4 Form 10-K Financial Statement

#000117184317002017 Filed on April 06, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 2014 Q4
Revenue $3.660M $14.38M $3.760M
YoY Change -2.66% 7.36% 68.61%
Cost Of Revenue $2.280M $9.417M $2.340M
YoY Change -2.56% 2.17% 35.26%
Gross Profit $1.380M $4.963M $1.430M
YoY Change -3.5% 18.79% 186.0%
Gross Profit Margin 37.7% 34.51% 38.03%
Selling, General & Admin $310.0K $1.280M $70.00K
YoY Change 342.86% 341.38% 0.0%
% of Gross Profit 22.46% 25.79% 4.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $230.0K $466.6K $10.00K
YoY Change 2200.0% 1039.37% 0.0%
% of Gross Profit 16.67% 9.4% 0.7%
Operating Expenses $1.250M $13.43M $490.0K
YoY Change 155.1% 20.48% 11.36%
Operating Profit $130.0K $946.9K $940.0K
YoY Change -86.17% -57.82% 1466.67%
Interest Expense $20.00K $80.00K
YoY Change
% of Operating Profit 15.38% 8.45%
Other Income/Expense, Net $10.00K $144.5K $60.00K
YoY Change -83.33% 30.11%
Pretax Income $160.0K $1.091M $990.0K
YoY Change -83.84% -53.68% 1550.0%
Income Tax $0.00 $75.29K -$1.510M
% Of Pretax Income 0.0% 6.9% -152.53%
Net Earnings $160.0K $1.016M $2.500M
YoY Change -93.6% -73.53% 4900.0%
Net Earnings / Revenue 4.37% 7.07% 66.49%
Basic Earnings Per Share $0.14
Diluted Earnings Per Share $13.58K $0.08 $240.2K
COMMON SHARES
Basic Shares Outstanding 12.37M 7.389M 137.2M shares
Diluted Shares Outstanding 11.99M

Balance Sheet

Concept 2015 Q4 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.060M $4.060M $2.800M
YoY Change 45.0% 45.0% -89.46%
Cash & Equivalents $4.060M $4.060M $2.803M
Short-Term Investments
Other Short-Term Assets $57.92M $57.92M $52.32M
YoY Change 10.7% 10.7% 52220.0%
Inventory
Prepaid Expenses $149.1K $129.3K
Receivables $1.135M $1.140M $1.037M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $63.11M $63.11M $56.16M
YoY Change 12.39% 12.38% 106.0%
LONG-TERM ASSETS
Property, Plant & Equipment $3.077M $3.080M $2.706M
YoY Change 13.75% 13.65% 2154.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $202.8K $1.820M $204.1K
YoY Change -0.62% -0.55% 70.09%
Total Long-Term Assets $2.166M $5.250M $2.237M
YoY Change -3.21% 6.28% 728.69%
TOTAL ASSETS
Total Short-Term Assets $63.11M $63.11M $56.16M
Total Long-Term Assets $2.166M $5.250M $2.237M
Total Assets $68.36M $68.36M $61.10M
YoY Change 11.88% 11.88% 121.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $143.2K $140.0K $37.81K
YoY Change 278.7% 250.0% -36.99%
Accrued Expenses $1.329M $1.330M $1.851M
YoY Change -28.22% -28.11% 69.82%
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 $59.24M $59.24M $54.08M
YoY Change 9.55% 9.54% 101.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $59.24M $59.24M $54.08M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $59.24M $59.24M $54.08M
YoY Change 9.54% 9.54% 101.12%
SHAREHOLDERS EQUITY
Retained Earnings -$49.05M -$50.07M
YoY Change -2.03%
Common Stock $185.5K $184.2K
YoY Change 0.74%
Preferred Stock
YoY Change
Treasury Stock (at cost) $286.4K $238.2K
YoY Change 20.25%
Treasury Stock Shares $349.6K $333.0K
Shareholders Equity $9.115M $9.120M $7.024M
YoY Change
Total Liabilities & Shareholders Equity $68.36M $68.36M $61.10M
YoY Change 11.88% 11.88% 121.95%

Cashflow Statement

Concept 2015 Q4 2015 2014 Q4
OPERATING ACTIVITIES
Net Income $160.0K $1.016M $2.500M
YoY Change -93.6% -73.53% 4900.0%
Depreciation, Depletion And Amortization $230.0K $466.6K $10.00K
YoY Change 2200.0% 1039.37% 0.0%
Cash From Operating Activities $4.160M $2.090M -$5.790M
YoY Change -171.85% 4.15% -133.05%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K $785.6K $0.00
YoY Change 2036.33%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$60.00K -$785.6K $0.00
YoY Change 2036.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $48.24K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.00K -48.24K 0.000
YoY Change
NET CHANGE
Cash From Operating Activities 4.160M 2.090M -5.790M
Cash From Investing Activities -60.00K -785.6K 0.000
Cash From Financing Activities -20.00K -48.24K 0.000
Net Change In Cash 4.080M 1.256M -5.790M
YoY Change -170.47% -36.23% -133.05%
FREE CASH FLOW
Cash From Operating Activities $4.160M $2.090M -$5.790M
Capital Expenditures -$60.00K $785.6K $0.00
Free Cash Flow $4.220M $1.304M -$5.790M
YoY Change -172.88% -33.78% -133.05%

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IssuanceOfStockAndWarrantsForServicesOrClaims
51700
CY2015 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11988180
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
60503318
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
59241215
CY2016Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Reported Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseReportedClaimsAmount
CY2015Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Reported Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseReportedClaimsAmount
450000
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
248868
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4599003
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
69514686
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
68356491
CY2016 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-431755
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-48237
CY2016 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-355551
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-785571
CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
848438
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
2089959
CY2016 us-gaap Net Income Loss
NetIncomeLoss
-1196642
CY2015 us-gaap Net Income Loss
NetIncomeLoss
1016088
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7838197
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
196599
CY2015 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
144495
CY2016Q4 us-gaap Notes Receivable Net
NotesReceivableNet
200000
CY2015Q4 us-gaap Notes Receivable Net
NotesReceivableNet
CY2016 us-gaap Operating Expenses
OperatingExpenses
13436931
CY2015 us-gaap Operating Expenses
OperatingExpenses
13433582
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
-1360573
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
946877
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
231100
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
28000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
125400
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7838197
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7389177
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
142029
CY2015Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
149118
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4744326
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4588776
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2494510
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3077421
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
15803641
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
17972065
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-50251641
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-49054999
CY2016 us-gaap Revenues
Revenues
12076358
CY2015 us-gaap Revenues
Revenues
14380459
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
1314778
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
1275130
CY2016Q4 us-gaap Share Price
SharePrice
1.85
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
11950
CY2016 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
51700
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
138819
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
399874
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
206
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
9011368
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
9115276
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
7024072
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
596349
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
349632
CY2016Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
246717
CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
246717
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
718149
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
286394
CY2016Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
431755
CY2016 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
431705
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
48237
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; text-align: justify; margin: 0pt 0"><div style="display: inline; font-style: italic;">Use of Estimates: </div>The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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></div></div></div></div></div></div>
CY2016Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
172832

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