$VISL
Vislink Technologies, Inc.

2014 Q3 Form 10-Q Financial Statement

#000114420414050191 Filed on August 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q4
Revenue $150.0K $163.0K $370.0K
YoY Change 354.55%
Cost Of Revenue $60.00K $40.00K $100.0K
YoY Change
Gross Profit $90.00K $120.0K $270.0K
YoY Change 200.0%
Gross Profit Margin 60.0% 73.62% 72.97%
Selling, General & Admin $1.630M $1.600M $1.320M
YoY Change -23.83% -31.61%
% of Gross Profit 1811.11% 1333.33% 488.89%
Research & Development $1.745M $2.056M $690.0K
YoY Change -1.75% 52.07% -60.34%
% of Gross Profit 1938.89% 1713.33% 255.56%
Depreciation & Amortization $950.0K $960.0K $1.060M
YoY Change 115.91% 10.34% 103.85%
% of Gross Profit 1055.56% 800.0% 392.59%
Operating Expenses $1.745M $2.056M $3.070M
YoY Change -1.75% 52.07% -26.73%
Operating Profit -$4.237M -$4.487M -$2.800M
YoY Change -1.99% 42.63% -33.17%
Interest Expense -$40.00K -$40.00K -$40.00K
YoY Change -96.52% -78.95%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change -100.0%
Pretax Income -$4.281M -$4.530M -$3.770M
YoY Change -73.12% 26.89% -19.27%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.281M -$4.530M -$3.770M
YoY Change -73.12% 26.89% -19.27%
Net Earnings / Revenue -2854.0% -2779.14% -1018.92%
Basic Earnings Per Share
Diluted Earnings Per Share -$12.74B -$14.29B -$17.50B
COMMON SHARES
Basic Shares Outstanding 24.20M shares 24.12M shares 12.65M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.890M $4.960M $5.520M
YoY Change -26.17% 16433.33% 1944.44%
Cash & Equivalents $1.889M $4.960M $5.517M
Short-Term Investments
Other Short-Term Assets $480.0K $70.00K $50.00K
YoY Change 1500.0% -89.06% 150.0%
Inventory $4.290M $4.200M $2.916M
Prepaid Expenses
Receivables $950.0K $996.0K $788.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.610M $10.22M $10.62M
YoY Change 109.87% 812.77% 3600.35%
LONG-TERM ASSETS
Property, Plant & Equipment $750.0K $806.0K $806.0K
YoY Change -52.2% -48.33% -53.28%
Goodwill
YoY Change
Intangibles $16.97M $18.20M
YoY Change 3.34%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $17.35M $17.77M $19.00M
YoY Change -15.74% -11.92% -1.71%
TOTAL ASSETS
Total Short-Term Assets $7.610M $10.22M $10.62M
Total Long-Term Assets $17.35M $17.77M $19.00M
Total Assets $24.96M $28.00M $29.62M
YoY Change 3.07% 31.44% 50.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $690.0K $795.0K $1.841M
YoY Change -29.45% -63.36% 181.07%
Accrued Expenses $1.000M $1.005M $772.0K
YoY Change -16.32% -79.19% 2.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $130.0K $130.0K $130.0K
YoY Change -99.24%
Total Short-Term Liabilities $3.280M $3.660M $5.088M
YoY Change -47.26% -78.92% -78.36%
LONG-TERM LIABILITIES
Long-Term Debt $2.030M $2.060M $2.120M
YoY Change 1.5% 3.0% 6.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.030M $2.060M $2.120M
YoY Change 1.5% 3.0% 6.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.280M $3.660M $5.088M
Total Long-Term Liabilities $2.030M $2.060M $2.120M
Total Liabilities $5.300M $5.716M $7.206M
YoY Change -35.52% -70.48% -71.75%
SHAREHOLDERS EQUITY
Retained Earnings -$161.2M -$151.6M
YoY Change 22.12%
Common Stock $0.00 $174.0M
YoY Change 47.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $22.00K $22.00K
YoY Change 0.0%
Treasury Stock Shares 2.284K shares 2.284K shares 2.284K shares
Shareholders Equity $19.66M $22.28M $22.42M
YoY Change
Total Liabilities & Shareholders Equity $24.96M $28.00M $29.62M
YoY Change 3.08% 31.46% 50.98%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q4
OPERATING ACTIVITIES
Net Income -$4.281M -$4.530M -$3.770M
YoY Change -73.12% 26.89% -19.27%
Depreciation, Depletion And Amortization $950.0K $960.0K $1.060M
YoY Change 115.91% 10.34% 103.85%
Cash From Operating Activities -$3.460M -$4.110M -$6.160M
YoY Change -31.35% 28.44% 363.16%
INVESTING ACTIVITIES
Capital Expenditures -$540.0K -$400.0K -$330.0K
YoY Change -36.47% -76.74% -75.37%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$540.0K -$400.0K -$330.0K
YoY Change -36.47% -76.74% -75.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 940.0K 8.780M 9.440M
YoY Change -88.85% 88.01% 238.35%
NET CHANGE
Cash From Operating Activities -3.460M -4.110M -6.160M
Cash From Investing Activities -540.0K -400.0K -330.0K
Cash From Financing Activities 940.0K 8.780M 9.440M
Net Change In Cash -3.060M 4.270M 2.950M
YoY Change -220.47% -1808.0% 2358.33%
FREE CASH FLOW
Cash From Operating Activities -$3.460M -$4.110M -$6.160M
Capital Expenditures -$540.0K -$400.0K -$330.0K
Free Cash Flow -$2.920M -$3.710M -$5.830M
YoY Change -30.31% 150.68% -58400.0%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"><b>NOTE 13 &#151; CONTINGENCIES</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">The Company is subject, from time to time, to claims by third parties under various legal theories. The defense of such claims, or any adverse outcome relating to any such claims, could have a material adverse effect on the Company&#8217;s liquidity, financial condition and cash flows. As of June 30, 2014, the Company did not have any legal actions pending.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <i>Litigation settled with former banker</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">On April 22, 2014, the Company&#8217;s former banker filed a lawsuit in the U.S. District Court for the Southern District of New York alleging that the Company breached the underwriting agreement signed in November 2013. The plaintiff has alleged damages in excess of $75,000. The parties reached a confidential agreement to settle the action and the lawsuit was dismissed with prejudice on June 18, 2014. The amount of the settlement did not have a material impact on the Company&#8217;s financial position or results of operations.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2013Q4 us-gaap Inventory Net
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CY2014Q2 us-gaap Accounts Receivable Net Current
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CY2013Q4 us-gaap Accounts Receivable Net Current
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CY2014Q2 us-gaap Prepaid Expense And Other Assets Current
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CY2014Q2 us-gaap Due From Related Parties Current
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CY2013Q4 us-gaap Property Plant And Equipment Net
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CY2014Q2 us-gaap Intangible Assets Net Excluding Goodwill
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CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2014Q2 us-gaap Assets
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CY2013Q4 us-gaap Assets
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CY2014Q2 us-gaap Accounts Payable Current
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CY2014Q2 us-gaap Accrued Bonuses Current
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CY2013Q4 us-gaap Accrued Bonuses Current
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CY2013Q4 us-gaap Interest Payable Current
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CY2013Q4 us-gaap Due To Related Parties Current
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CY2014Q2 xgti Deferred Revenue Related Party
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CY2013Q4 xgti Deferred Revenue Related Party
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CY2014Q2 us-gaap Capital Lease Obligations Current
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CY2013Q4 us-gaap Capital Lease Obligations Current
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CY2013Q4 us-gaap Liabilities Current
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CY2014Q2 us-gaap Notes Payable Related Parties Noncurrent
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CY2014Q2 us-gaap Liabilities
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CY2014Q2 us-gaap Commitments And Contingencies
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CY2014Q2 us-gaap Preferred Stock Value
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CY2014Q2 us-gaap Common Stock Value
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CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2014Q2 us-gaap Treasury Stock Value
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us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> <i>Warranty Reserve</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">The Company established a warranty reserve policy effective for the fiscal year ending December 31, 2013. Although the Company tests its product in accordance with its quality programs and processes, its warranty obligation is affected by product failure rates and service delivery costs incurred in correcting a product failure. Should actual product failure rates or service costs differ from the Company&#8217;s estimates, which are based on limited historical data, where applicable, revisions to the estimated warranty liability would be required. The warranty reserve for the quarter ending June 30, 2014 and fiscal year ending December 31, 2013 was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8,000</font>, respectively.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Use Of Estimates
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> <i>Use of Estimates</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent 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><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Concentrations of Credit Risk</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">The Company does not have any off-balance-sheet concentrations of credit risk.&#160;<font style="BACKGROUND-COLOR: transparent">Credit risk is&#160;the</font> <font style="BACKGROUND-COLOR: transparent">risk that counterparty will default on its contractual obligations resulting in financial loss to the company. T</font><font style="BACKGROUND-COLOR: transparent">he company&#8217;s credit risk is primarily attributable to its cash and account receivables. The Company&#8217;s policy is to maintain its cash with high credit quality financial institutions to limit its risk of loss exposure. During the year, the Company had cash balances in excess of the federally insured limits of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">250,000</font>. The funds are on deposit with Wells Fargo Bank, N.A. Consequently, the Company does not believe that there is a significant risk having these balances in one financial institution. The Company has not experienced any losses in its bank accounts through June 30, 2014<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>. For customers, management assesses the credit quality of the customer, taking into account its financial position, past experience and other factors. The majority of trade receivables are those of related parties and management does not expect any losses from non-performance of these parties.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2013Q4 us-gaap Inventory Finished Goods
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CY2013Q4 us-gaap Accounts Receivable Related Parties Current
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CY2013Q4 us-gaap Accounts Receivable Gross
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2633000 USD
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1940000 USD
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1827000 USD
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2013Q4 us-gaap Common Stock Shares Authorized
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CY2014Q2 us-gaap Common Stock Shares Issued
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CY2013Q4 us-gaap Common Stock Shares Issued
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CY2014Q2 us-gaap Treasury Stock Shares
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CY2014Q2 us-gaap Inventory Raw Materials And Supplies
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us-gaap Depreciation
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177000 USD
us-gaap Depreciation
Depreciation
113000 USD
us-gaap Indefinitelived Intangible Assets Acquired
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565000 USD
us-gaap Amortization Of Intangible Assets
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us-gaap Proceeds From Notes Payable
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us-gaap Proceeds From Convertible Debt
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us-gaap Proceeds From Convertible Debt
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0 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2014Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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3593000 USD
CY2014Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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3481000 USD
CY2014Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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3068000 USD
CY2014Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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3030000 USD
CY2014Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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3083000 USD
CY2014Q2 us-gaap Finite Lived Intangible Assets Net
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16255000 USD
CY2014Q2 us-gaap Finite Lived Intangible Assets Gross
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CY2014Q2 us-gaap Intangible Assets Gross Excluding Goodwill
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27600000 USD
us-gaap Amortization Of Intangible Assets
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693000 USD
xgti Amortization Of Intangible Assets Accumulated Amortization
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700000 USD
CY2014Q2 us-gaap Capital Leases Future Minimum Payments Due Current
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CY2014Q2 us-gaap Capital Leases Future Minimum Payments Due In Two Years
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63000 USD
CY2014Q2 us-gaap Capital Leases Future Minimum Payments Net Minimum Payments1
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192000 USD
CY2014Q2 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
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7000 USD
CY2014Q2 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
185000 USD
CY2014Q2 us-gaap Capital Leases Future Minimum Payments Remainder Of Fiscal Year
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-129000 USD
xgti Interest Rate On Capital Leases
InterestRateOnCapitalLeases
0.04 pure
CY2013Q2 us-gaap Sales Revenue Net
SalesRevenueNet
0 USD
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
163000 USD
CY2013Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
0 USD
CY2014Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
41000 USD
CY2013Q2 us-gaap General And Administrative Expense
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1158000 USD
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1447000 USD
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1352000 USD
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2056000 USD
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
201000 USD
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
148000 USD
CY2013Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
435000 USD
CY2014Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
958000 USD
CY2013Q2 us-gaap Costs And Expenses
CostsAndExpenses
3146000 USD
CY2014Q2 us-gaap Costs And Expenses
CostsAndExpenses
4650000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-3146000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4487000 USD
CY2013Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-424000 USD
CY2014Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-43000 USD
CY2013Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-424000 USD
CY2014Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-43000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3570000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-3570000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-4530000 USD
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.49
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.20
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7319000 shares
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4530000 USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22829000 shares
CY2014Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1966000 USD
CY2014Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
158000 USD
CY2014Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2124000 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
134000 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
206000 USD
xgti Operating Leases Expiration Term
OperatingLeasesExpirationTerm
2014 through 2016
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
0 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
150000 USD
us-gaap Accretion Expense
AccretionExpense
119000 USD
us-gaap Accretion Expense
AccretionExpense
0 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
0 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
213000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
453000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1285000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
362000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
16000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1510000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1047000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
168000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
300000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
1110000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
0 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
1218000 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
955000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-3201000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-8632000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
114000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1707000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
565000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1719000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-679000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
0 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
62000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
450000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-557000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
271000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25000 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
15000000 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
0 USD
xgti Other Debt Conversion Converted Instrument
OtherDebtConversionConvertedInstrument
4041000 USD
xgti Other Debt Conversion Converted Instrument
OtherDebtConversionConvertedInstrument
0 USD
xgti Due To Related Party Refinanced Under Bridge Loan
DueToRelatedPartyRefinancedUnderBridgeLoan
336000 USD
xgti Due To Related Party Refinanced Under Bridge Loan
DueToRelatedPartyRefinancedUnderBridgeLoan
0 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
2747000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
8754000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-246000 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
xG TECHNOLOGY, INC.
dei Entity Central Index Key
EntityCentralIndexKey
0001565228
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Trading Symbol
TradingSymbol
XGTI
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
24202164 shares
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8816000 USD
xgti Stock Issued As Payment For Interest On Debt
StockIssuedAsPaymentForInterestOnDebt
90000 USD
xgti Stock Issued As Payment For Interest On Debt
StockIssuedAsPaymentForInterestOnDebt
90000 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
8815655 USD
CY2014Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
75000 USD

Files In Submission

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0001144204-14-050191.txt Edgar Link pending
0001144204-14-050191-xbrl.zip Edgar Link pending
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v386164_10q.htm Edgar Link pending
v386164_ex10-1.htm Edgar Link pending
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xgti-20140630.xml Edgar Link completed
xgti-20140630.xsd Edgar Link pending
xgti-20140630_cal.xml Edgar Link unprocessable
xgti-20140630_def.xml Edgar Link unprocessable
xgti-20140630_lab.xml Edgar Link unprocessable
xgti-20140630_pre.xml Edgar Link unprocessable