2017 Q2 Form 10-Q Financial Statement

#000138584917000040 Filed on May 05, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q1
Revenue $17.88M $3.756M $18.00M
YoY Change 155.25% -79.13%
Cost Of Revenue $11.07M $2.071M $12.14M
YoY Change 170.09% -82.94%
Gross Profit $6.812M $1.685M $5.853M
YoY Change 134.33% -71.21%
Gross Profit Margin 38.09% 44.86% 32.52%
Selling, General & Admin $3.423M $4.498M $3.902M
YoY Change -21.85% 15.27%
% of Gross Profit 50.25% 266.94% 66.67%
Research & Development $1.190M $3.320M
YoY Change
% of Gross Profit 17.47% 197.03%
Depreciation & Amortization $3.180M $508.0K $318.0K
YoY Change 59.75%
% of Gross Profit 46.68% 30.15% 5.43%
Operating Expenses $3.423M $4.498M $3.902M
YoY Change -21.85% 15.27%
Operating Profit -$7.657M -$8.137M -$8.377M
YoY Change -25.85% -2.86%
Interest Expense $503.0K $542.0K $576.0K
YoY Change -14.02% -5.9%
% of Operating Profit
Other Income/Expense, Net $3.680M -$1.917M $88.00K
YoY Change 681.32% -2278.41%
Pretax Income -$4.480M -$10.60M
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $4.855M $1.685M -$8.865M
YoY Change -146.65% -119.01%
Net Earnings / Revenue 27.15% 44.86% -49.26%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.06 -$0.15
COMMON SHARES
Basic Shares Outstanding 70.43M shares 70.05M shares
Diluted Shares Outstanding 70.42M shares

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.70M $12.20M
YoY Change
Cash & Equivalents $18.72M $12.16M $16.50M
Short-Term Investments
Other Short-Term Assets $7.100M $2.600M
YoY Change
Inventory $13.35M $20.33M
Prepaid Expenses $1.878M $2.609M
Receivables $3.500M $500.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $42.63M $35.60M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $34.76M $36.13M
YoY Change
Goodwill
YoY Change
Intangibles $2.707M $5.594M
YoY Change
Long-Term Investments $1.800M $1.700M
YoY Change
Other Assets $22.80M $25.10M
YoY Change
Total Long-Term Assets $145.7M $160.9M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $42.63M $35.60M
Total Long-Term Assets $145.7M $160.9M
Total Assets $188.3M $196.5M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.100M $5.200M
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.300M $6.600M
YoY Change
Total Short-Term Liabilities $8.425M $11.78M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $25.10M $23.20M
YoY Change
Other Long-Term Liabilities $22.70M $25.70M
YoY Change
Total Long-Term Liabilities $47.80M $48.90M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.425M $11.78M
Total Long-Term Liabilities $47.80M $48.90M
Total Liabilities $56.28M $60.72M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$296.5M -$292.0M
YoY Change
Common Stock $422.0M $420.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $128.0M $132.1M
YoY Change
Total Liabilities & Shareholders Equity $188.3M $196.5M
YoY Change

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $4.855M $1.685M -$8.865M
YoY Change -146.65% -119.01%
Depreciation, Depletion And Amortization $3.180M $508.0K $318.0K
YoY Change 59.75%
Cash From Operating Activities $5.110M -$9.078M -$8.703M
YoY Change 4.31%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $93.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $752.0K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.965M $11.50M
YoY Change -39.45%
Debt Paid & Issued, Net $789.0K $808.0K
YoY Change -2.35%
Cash From Financing Activities -810.0K $6.176M $10.70M
YoY Change -42.27%
NET CHANGE
Cash From Operating Activities 5.110M -$9.078M -$8.703M
Cash From Investing Activities 0.000 $0.00 $752.0K
Cash From Financing Activities -810.0K $6.176M $10.70M
Net Change In Cash 4.300M $34.29M $2.747M
YoY Change 1148.34%
FREE CASH FLOW
Cash From Operating Activities $5.110M -$9.078M -$8.703M
Capital Expenditures $0.00 $0.00 $93.00K
Free Cash Flow $5.110M -$9.078M -$8.796M
YoY Change 3.21%

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CY2016Q4 us-gaap Loans Payable Current
LoansPayableCurrent
6319000 USD
CY2017Q1 us-gaap Loans Payable Current
LoansPayableCurrent
6573000 USD
CY2016Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
23235000 USD
CY2017Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
23230000 USD
CY2016Q4 us-gaap Mineral Properties Net
MineralPropertiesNet
92625000 USD
CY2017Q1 us-gaap Mineral Properties Net
MineralPropertiesNet
92380000 USD
CY2016Q4 us-gaap Minority Interest
MinorityInterest
3742000 USD
CY2017Q1 us-gaap Minority Interest
MinorityInterest
3654000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10698000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6176000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
752000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1913000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8703000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9079000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-8865000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-10596000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
57000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
88000 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8808000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-10508000 USD
CY2017Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
13290000 USD
CY2016Q4 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
1146000 USD
CY2017Q1 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
1663000 USD
CY2017Q1 us-gaap Notes Payable Current
NotesPayableCurrent
3270000 USD
CY2017Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-8377000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-8137000 USD
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-801000 USD
CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-196000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-718000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
244000 USD
CY2016Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
88000 USD
CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1917000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
88000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1917000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
93000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2104000 USD
CY2017Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2609000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11503000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6965000 USD
CY2012Q3 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
21550000 CAD
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3000 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
56203000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
56203000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
37582000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
36126000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
808000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
789000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
12980000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
23175000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
25089000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
23175000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
25089000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-281521000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-292029000 USD
CY2016Q1 us-gaap Revenues
Revenues
17996000 USD
CY2017Q1 us-gaap Revenues
Revenues
3756000 USD
CY2016Q1 us-gaap Selling Expense
SellingExpense
74000 USD
CY2017Q1 us-gaap Selling Expense
SellingExpense
70000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
666000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1041000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.630
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0193
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
200962 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
66725 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
317960 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
30283 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.19
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
449537 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
732328 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2122897 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2045143 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2680463 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.54
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.69
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.67
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.12
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
8.03
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
11.69
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.52
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.39
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.13
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.35
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
8369 shares
CY2017Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2017Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
216000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1041000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
134121000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
132079000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
137863000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
135733000 USD
CY2017Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
4000000 USD
CY2016Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
3912000 USD
CY2017Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
6122000 USD
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47660414 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
68761350 shares

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