2016 Q4 Form 10-Q Financial Statement
#000114420417010218 Filed on February 21, 2017
Income Statement
| Concept | 2016 Q4 | 2015 Q4 | 2015 |
|---|---|---|---|
| Revenue | $4.113M | $4.113M | $9.892M |
| YoY Change | 0.0% | 73.47% | -21.35% |
| Cost Of Revenue | $2.130M | $2.800M | $7.563M |
| YoY Change | -23.93% | 40.7% | -22.35% |
| Gross Profit | $1.308M | $1.308M | $2.328M |
| YoY Change | 0.0% | 242.2% | -18.05% |
| Gross Profit Margin | 31.81% | 31.81% | 23.54% |
| Selling, General & Admin | $1.009M | $1.140M | $4.176M |
| YoY Change | -11.5% | 15.15% | -1.78% |
| % of Gross Profit | 77.11% | 87.13% | 179.35% |
| Research & Development | $200.0K | $150.0K | $776.8K |
| YoY Change | 33.33% | -0.43% | 31.1% |
| % of Gross Profit | 15.29% | 11.46% | 33.37% |
| Depreciation & Amortization | $0.00 | $10.00K | $46.07K |
| YoY Change | -100.0% | -50.0% | 4.83% |
| % of Gross Profit | 0.0% | 0.76% | 1.98% |
| Operating Expenses | $1.009M | $1.290M | $4.952M |
| YoY Change | -21.79% | 756.28% | 2.24% |
| Operating Profit | $299.5K | $18.37K | -$2.624M |
| YoY Change | 1530.57% | -102.41% | 31.03% |
| Interest Expense | $20.34K | -$190.0K | -$1.129M |
| YoY Change | -110.7% | -44.12% | 706.11% |
| % of Operating Profit | 6.79% | -1034.41% | |
| Other Income/Expense, Net | -$20.34K | -$7.135K | $22.83K |
| YoY Change | 185.05% | ||
| Pretax Income | -$550.0K | -$7.135K | -$3.730M |
| YoY Change | 7608.48% | -219.75% | 74.35% |
| Income Tax | -$25.00K | ||
| % Of Pretax Income | |||
| Net Earnings | -$174.2K | -$174.2K | $3.705M |
| YoY Change | 0.0% | -84.19% | -16.75% |
| Net Earnings / Revenue | -4.23% | -4.23% | 37.46% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$238.1K | -$73.59K | -$1.602M |
| COMMON SHARES | |||
| Basic Shares Outstanding | 2.313M shares | ||
| Diluted Shares Outstanding | 2.313M shares |
Balance Sheet
| Concept | 2016 Q4 | 2015 Q4 | 2015 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $160.0K | $230.0K | $49.43K |
| YoY Change | -30.43% | -83.33% | -97.59% |
| Cash & Equivalents | $155.8K | $227.1K | |
| Short-Term Investments | |||
| Other Short-Term Assets | $200.0K | $210.0K | $1.071M |
| YoY Change | -4.76% | -8.7% | 161.14% |
| Inventory | $5.560M | $4.597M | $3.852M |
| Prepaid Expenses | $212.5K | ||
| Receivables | $250.0K | $202.6K | $517.0K |
| Other Receivables | $1.280M | $2.640M | $1.271M |
| Total Short-Term Assets | $7.450M | $7.977M | $6.761M |
| YoY Change | -6.61% | 16.29% | -24.38% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $53.11K | $79.82K | $104.6K |
| YoY Change | -33.46% | -27.44% | -30.25% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $10.61M | $12.08M | $12.94M |
| YoY Change | -12.18% | -10.9% | -8.46% |
| Other Assets | $0.00 | $6.000K | $26.00K |
| YoY Change | -100.0% | -85.0% | -35.0% |
| Total Long-Term Assets | $10.73M | $12.23M | $13.15M |
| YoY Change | -12.28% | -11.23% | -8.71% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $7.450M | $7.977M | $6.761M |
| Total Long-Term Assets | $10.73M | $12.23M | $13.15M |
| Total Assets | $18.18M | $20.21M | $19.91M |
| YoY Change | -10.04% | -2.08% | -14.71% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $2.540M | $423.2K | $968.8K |
| YoY Change | 500.15% | -47.1% | 51.38% |
| Accrued Expenses | $120.0K | $300.0K | $180.2K |
| YoY Change | -60.0% | 36.36% | 20.13% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $690.0K | $1.630M | $0.00 |
| YoY Change | -57.67% | ||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $3.350M | $3.226M | $1.149M |
| YoY Change | 3.84% | 213.21% | 45.45% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% | |
| Other Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% | |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $3.350M | $3.226M | $1.149M |
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Total Liabilities | $3.350M | $3.230M | $1.149M |
| YoY Change | 3.72% | 207.62% | 41.86% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $3.226M | ||
| YoY Change | |||
| Common Stock | $12.89M | $12.91M | |
| YoY Change | -0.18% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $14.83M | $16.99M | $18.76M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $18.18M | $20.21M | $19.91M |
| YoY Change | -10.06% | -2.07% | -14.71% |
Cashflow Statement
| Concept | 2016 Q4 | 2015 Q4 | 2015 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$174.2K | -$174.2K | $3.705M |
| YoY Change | 0.0% | -84.19% | -16.75% |
| Depreciation, Depletion And Amortization | $0.00 | $10.00K | $46.07K |
| YoY Change | -100.0% | -50.0% | 4.83% |
| Cash From Operating Activities | -$120.0K | -$740.0K | -$1.370M |
| YoY Change | -83.78% | -47.52% | 60.77% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $0.00 | ||
| YoY Change | -100.0% | ||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $100.0K | $820.0K | -$631.9K |
| YoY Change | -87.8% | -250.45% | |
| Cash From Investing Activities | $100.0K | $820.0K | -$631.9K |
| YoY Change | -87.8% | -265.08% | |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 30.00K | 630.0K | $0.00 |
| YoY Change | -95.24% | -100.0% | |
| NET CHANGE | |||
| Cash From Operating Activities | -120.0K | -740.0K | -$1.370M |
| Cash From Investing Activities | 100.0K | 820.0K | -$631.9K |
| Cash From Financing Activities | 30.00K | 630.0K | $0.00 |
| Net Change In Cash | 10.00K | 710.0K | -$2.002M |
| YoY Change | -98.59% | -150.35% | 416.0% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$120.0K | -$740.0K | -$1.370M |
| Capital Expenditures | $0.00 | ||
| Free Cash Flow | -$1.370M | ||
| YoY Change | 67.35% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| uuu |
Increase Decrease In Accounts Receivable And Due From Factor
IncreaseDecreaseInAccountsReceivableAndDueFromFactor
|
1151723 | USD | |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
362728 | USD |
| CY2016Q4 | us-gaap |
Lines Of Credit Current
LinesOfCreditCurrent
|
693766 | USD |
| CY2016Q4 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-20338 | USD |
| CY2015Q4 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-7135 | USD |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-49123 | USD | |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-20118 | USD | |
| CY2015Q4 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-268350 | USD |
| CY2015Q4 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-281316 | USD |
| CY2016Q4 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-799681 | USD |
| CY2016Q4 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-180486 | USD |
| CY2016Q4 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
-69389 | USD |
| uuu |
Increase Decrease In Accounts Receivable And Due From Factor
IncreaseDecreaseInAccountsReceivableAndDueFromFactor
|
-398177 | USD | |
| CY2016Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
12885841 | USD |
| CY2016Q1 | uuu |
Commissions And Other
CommissionsAndOther
|
74327 | USD |
| CY2016Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
51188 | USD |
| CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
63722 | USD |
| CY2016Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
71556 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
67075 | USD |
| CY2016Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
10610725 | USD |
| us-gaap |
Gross Profit
GrossProfit
|
3358390 | USD | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-1362552 | USD | |
| CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
53112 | USD |
| CY2016Q4 | uuu |
Commissions And Other
CommissionsAndOther
|
65630 | USD |
| CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
155826 | USD |
| uuu |
Cost Of Goods Sold Acquired From Joint Venture
CostOfGoodsSoldAcquiredFromJointVenture
|
7231947 | USD | |
| uuu |
Cost Of Goods Sold Acquired From Joint Venture
CostOfGoodsSoldAcquiredFromJointVenture
|
6949332 | USD | |
| uuu |
Cost Of Goods Sold Other
CostOfGoodsSoldOther
|
220224 | USD | |
| uuu |
Cost Of Goods Sold Other
CostOfGoodsSoldOther
|
262222 | USD | |
| us-gaap |
Gross Profit
GrossProfit
|
2875451 | USD | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1078904 | USD | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-438711 | USD | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-1003551 | USD | |
| CY2016Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
12885841 | USD |
| CY2016Q1 | us-gaap |
Lines Of Credit Current
LinesOfCreditCurrent
|
313891 | USD |
| CY2016Q4 | us-gaap |
Assets
Assets
|
18181061 | USD |
| us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-515717 | USD | |
| us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-263530 | USD | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.43 | ||
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.59 | ||
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
2312887 | shares | |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
3277480 | USD | |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
3459284 | USD | |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
519621 | USD | |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
495071 | USD | |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-1554191 | USD | |
| CY2016Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
20000000 | shares |
| CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
2312887 | shares |
| CY2016Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
2312887 | shares |
| CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
2312887 | shares |
| CY2016Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
2312887 | shares |
| uuu |
Proceeds From Cash Distributions From Joint Venture
ProceedsFromCashDistributionsFromJointVenture
|
102581 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-2272870 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-689358 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
1628214 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
379875 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
499057 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1466836 | USD | |
| uuu |
Increase Decrease In Funds Held By Factor
IncreaseDecreaseInFundsHeldByFactor
|
0 | USD | |
| uuu |
Increase Decrease In Funds Held By Factor
IncreaseDecreaseInFundsHeldByFactor
|
631906 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
102581 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
822367 | USD | |
| CY2016Q1 | uuu |
Working Capital
WorkingCapital
|
4463601 | USD |
| CY2016 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2137792 | USD |
| CY2015 | us-gaap |
Net Income Loss
NetIncomeLoss
|
3704985 | USD |
| CY2016Q4 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
1783000 | USD |
| CY2016Q4 | us-gaap |
Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
|
1767000 | USD |
| CY2016Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
693766 | USD |
| CY2016Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
|
4352661 | USD |
| CY2015Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
|
5079527 | USD |
| CY2016Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Current Liabilities
EquityMethodInvestmentSummarizedFinancialInformationCurrentLiabilities
|
3878625 | USD |
| CY2016Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
|
25825609 | USD |
| CY2015Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
|
29543358 | USD |
| CY2016Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Current Assets
EquityMethodInvestmentSummarizedFinancialInformationCurrentAssets
|
13136416 | USD |
| CY2015Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Current Assets
EquityMethodInvestmentSummarizedFinancialInformationCurrentAssets
|
10689736 | USD |
| us-gaap |
Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
|
-782051 | USD | |
| us-gaap |
Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
|
-359513 | USD | |
| us-gaap |
Equity Method Investment Summarized Financial Information Gross Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationGrossProfitLoss
|
2169453 | USD | |
| us-gaap |
Equity Method Investment Summarized Financial Information Gross Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationGrossProfitLoss
|
2779556 | USD | |
| us-gaap |
Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
|
13271177 | USD | |
| us-gaap |
Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
|
15002160 | USD | |
| CY2016Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
57000 | USD |
| CY2016Q4 | us-gaap |
Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
|
312920 | USD |
| CY2016Q1 | us-gaap |
Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
|
139985 | USD |
| CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
20000000 | shares |
| uuu |
Proceeds From Cash Distributions From Joint Venture
ProceedsFromCashDistributionsFromJointVenture
|
190461 | USD | |
| us-gaap |
Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
|
The Agreement for the assignment of accounts receivable expires on January 6, 2018 and provides for continuation of the program on successive two year periods until terminated by one of the parties to the Agreement. In accordance with the provisions of the Agreement, the Company may take advances equal to eighty percent (80%) of the uncollected non-recourse factored trade accounts receivable balance less applicable factoring commissions and may borrow up to fifty percent (50%) of eligible inventories subject to a borrowing limitation on inventory of $1,000,000. | ||
| us-gaap |
Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
|
bear interest at the prime commercial rate of interest, as published, plus two percent (Effective rate 5.50% at December 31, 2016). | ||
| uuu |
Accounts Receivables Factoring Agreement Term
AccountsReceivablesFactoringAgreementTerm
|
P2Y | ||
| uuu |
Accounts Receivables Factoring Agreement Expiration Date
AccountsReceivablesFactoringAgreementExpirationDate
|
2018-01-06 | ||
| CY2015Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
57000 | USD |
| CY2016Q4 | uuu |
Working Capital
WorkingCapital
|
4102145 | USD |
| uuu |
Increase Decrease In Working Capital
IncreaseDecreaseInWorkingCapital
|
361456 | USD |
