2018 Q1 Form 10-Q Financial Statement

#000138584918000042 Filed on May 04, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $1.254M $3.756M
YoY Change -66.61% -79.13%
Cost Of Revenue $1.238M $2.071M
YoY Change -40.22% -82.94%
Gross Profit $16.00K $1.685M
YoY Change -99.05% -71.21%
Gross Profit Margin 1.28% 44.86%
Selling, General & Admin $4.835M $4.498M
YoY Change 7.49% 15.27%
% of Gross Profit 30218.75% 266.94%
Research & Development $1.600M $3.320M
YoY Change -51.81%
% of Gross Profit 10000.0% 197.03%
Depreciation & Amortization $327.0K $508.0K
YoY Change -35.63% 59.75%
% of Gross Profit 2043.75% 30.15%
Operating Expenses $4.835M $4.498M
YoY Change 7.49% 15.27%
Operating Profit -$10.40M -$8.137M
YoY Change 27.81% -2.86%
Interest Expense $492.0K $542.0K
YoY Change -9.23% -5.9%
% of Operating Profit
Other Income/Expense, Net $63.00K -$1.917M
YoY Change -103.29% -2278.41%
Pretax Income -$10.83M -$10.60M
YoY Change 2.17%
Income Tax
% Of Pretax Income
Net Earnings -$994.0K $1.685M
YoY Change -158.99% -119.01%
Net Earnings / Revenue -79.27% 44.86%
Basic Earnings Per Share -$0.14
Diluted Earnings Per Share -$0.14 -$0.15
COMMON SHARES
Basic Shares Outstanding 75.21M shares 70.05M shares
Diluted Shares Outstanding 75.21M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.600M $12.20M
YoY Change -45.9%
Cash & Equivalents $6.623M $12.16M
Short-Term Investments
Other Short-Term Assets $6.600M $2.600M
YoY Change 153.85%
Inventory $16.83M $20.33M
Prepaid Expenses $1.591M $2.609M
Receivables $2.200M $500.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $32.27M $35.60M
YoY Change -9.35%
LONG-TERM ASSETS
Property, Plant & Equipment $32.25M $36.13M
YoY Change -10.73%
Goodwill
YoY Change
Intangibles $2.502M $5.594M
YoY Change -55.27%
Long-Term Investments $700.0K $1.700M
YoY Change -58.82%
Other Assets $21.60M $25.10M
YoY Change -13.94%
Total Long-Term Assets $140.5M $160.9M
YoY Change -12.64%
TOTAL ASSETS
Total Short-Term Assets $32.27M $35.60M
Total Long-Term Assets $140.5M $160.9M
Total Assets $172.8M $196.5M
YoY Change -12.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.100M $5.200M
YoY Change -1.92%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.500M $6.600M
YoY Change -46.97%
Total Short-Term Liabilities $8.639M $11.78M
YoY Change -26.68%
LONG-TERM LIABILITIES
Long-Term Debt $22.90M $23.20M
YoY Change -1.29%
Other Long-Term Liabilities $21.60M $25.70M
YoY Change -15.95%
Total Long-Term Liabilities $44.50M $48.90M
YoY Change -9.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.639M $11.78M
Total Long-Term Liabilities $44.50M $48.90M
Total Liabilities $53.14M $60.72M
YoY Change -12.49%
SHAREHOLDERS EQUITY
Retained Earnings -$306.8M -$292.0M
YoY Change 5.06%
Common Stock $431.8M $420.6M
YoY Change 2.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $115.8M $132.1M
YoY Change
Total Liabilities & Shareholders Equity $172.8M $196.5M
YoY Change -12.04%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$994.0K $1.685M
YoY Change -158.99% -119.01%
Depreciation, Depletion And Amortization $327.0K $508.0K
YoY Change -35.63% 59.75%
Cash From Operating Activities -$11.83M -$9.078M
YoY Change 30.35% 4.31%
INVESTING ACTIVITIES
Capital Expenditures $14.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$14.00K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.147M $6.965M
YoY Change -83.53% -39.45%
Debt Paid & Issued, Net $836.0K $789.0K
YoY Change 5.96% -2.35%
Cash From Financing Activities -$603.0K $6.176M
YoY Change -109.76% -42.27%
NET CHANGE
Cash From Operating Activities -$11.83M -$9.078M
Cash From Investing Activities -$14.00K $0.00
Cash From Financing Activities -$603.0K $6.176M
Net Change In Cash $28.20M $34.29M
YoY Change -17.78% 1148.34%
FREE CASH FLOW
Cash From Operating Activities -$11.83M -$9.078M
Capital Expenditures $14.00K $0.00
Free Cash Flow -$11.85M -$9.078M
YoY Change 30.5% 3.21%

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29000 USD
CY2018Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
50000 USD
CY2018Q1 us-gaap Investments Fair Value Disclosure
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1463000 USD
CY2017Q4 us-gaap Liabilities
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55596000 USD
CY2018Q1 us-gaap Liabilities
Liabilities
53136000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
185338000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
172797000 USD
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9895000 USD
CY2018Q1 us-gaap Liabilities Current
LiabilitiesCurrent
8639000 USD
CY2017Q4 us-gaap Loans Payable Current
LoansPayableCurrent
3414000 USD
CY2018Q1 us-gaap Loans Payable Current
LoansPayableCurrent
3463000 USD
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
24077000 USD
CY2018Q1 us-gaap Long Term Debt
LongTermDebt
22885000 USD
CY2017Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
24077000 USD
CY2018Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
22885000 USD
CY2017Q4 us-gaap Mineral Properties Net
MineralPropertiesNet
83539000 USD
CY2018Q1 us-gaap Mineral Properties Net
MineralPropertiesNet
83539000 USD
CY2017Q4 us-gaap Minority Interest
MinorityInterest
3883000 USD
CY2018Q1 us-gaap Minority Interest
MinorityInterest
3876000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6176000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-603000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9078000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11833000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-10508000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-10822000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
88000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
7000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-10508000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-10822000 USD
CY2018Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
10020000 USD
CY2017Q4 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
903000 USD
CY2018Q1 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
659000 USD
CY2018Q1 us-gaap Notes Payable Current
NotesPayableCurrent
3460000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-8137000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-10400000 USD
CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-196000 USD
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-463000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
244000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-687000 USD
CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1917000 USD
CY2018Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
63000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1917000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
63000 USD
us-gaap Payments For Royalties
PaymentsForRoyalties
0 USD
CY2018Q1 us-gaap Payments For Royalties
PaymentsForRoyalties
0 USD
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
914000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14000 USD
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1814000 USD
CY2018Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1591000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6965000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1147000 USD
CY2012Q3 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
21550000 CAD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
-10596000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
-10829000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
56203000 USD
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
56217000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
33076000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1202000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
32251000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
789000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
836000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
23175000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
22127000 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21572000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
25089000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
22127000 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
21572000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-306813000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-317635000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-306813000 USD
CY2017Q1 us-gaap Revenues
Revenues
3756000 USD
CY2018Q1 us-gaap Revenues
Revenues
1254000 USD
CY2017Q1 us-gaap Selling Expense
SellingExpense
70000 USD
CY2018Q1 us-gaap Selling Expense
SellingExpense
65000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6295
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0193
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
438900 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
77264 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
316289 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
18849 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
738893 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
422956 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.96
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2045143 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2028847 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2355690 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.69
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.48
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.76
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
8.42
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
10.36
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.93
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.76
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.34
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.70
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1202000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
125859000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
115785000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
129742000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
119661000 USD
CY2018Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
2200000 USD
CY2017Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
3376000 USD
CY2018Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
2928000 USD
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
68761350 shares
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
75209456 shares

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