2018 Q4 Form 10-Q Financial Statement

#000114420418058336 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $1.979M $1.923M $1.405M
YoY Change 23.92% 36.87% 240894.85%
Cost Of Revenue $1.680M $1.302M $1.497M
YoY Change -11.58% -13.0% 82.77%
Gross Profit $300.0K $621.0K -$92.00K
YoY Change -198.68% -775.0% 38718.57%
Gross Profit Margin 15.16% 32.29% -6.55%
Selling, General & Admin $2.170M $2.633M $2.521M
YoY Change -25.94% 4.42% 19.26%
% of Gross Profit 723.33% 423.98%
Research & Development $3.220M $2.468M $1.506M
YoY Change 38.2% 63.87% -30.84%
% of Gross Profit 1073.33% 397.5%
Depreciation & Amortization $540.0K $460.0K $320.0K
YoY Change 100.0% 43.75% 18.52%
% of Gross Profit 180.0% 74.07%
Operating Expenses $5.910M $5.464M $5.430M
YoY Change 7.07% 0.61% 26.52%
Operating Profit -$5.610M -$4.843M -$5.522M
YoY Change -3.67% -12.31% 16.88%
Interest Expense $60.00K $2.937K $12.59K
YoY Change -200.0% -76.68% -62.94%
% of Operating Profit
Other Income/Expense, Net -$10.00K $45.19K $20.25K
YoY Change -200.0% 123.15% -106.52%
Pretax Income -$5.560M -$4.798M -$5.502M
YoY Change -5.44% -12.8% 9.26%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.564M -$4.798M -$5.502M
YoY Change -5.36% -12.8% 109153.38%
Net Earnings / Revenue -281.15% -249.51% -391.6%
Basic Earnings Per Share
Diluted Earnings Per Share -$201.5K -$174.5K -$257.4K
COMMON SHARES
Basic Shares Outstanding 27.59M shares 27.43M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.30M $23.50M $8.700M
YoY Change 16.11% 170.11% 47.46%
Cash & Equivalents $17.26M $23.47M $8.677M
Short-Term Investments
Other Short-Term Assets $2.100M $2.000M $900.0K
YoY Change 110.0% 122.22% -10.0%
Inventory $7.282M $6.803M $2.800M
Prepaid Expenses
Receivables $772.3K $1.048M $1.200M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $27.38M $33.34M $13.60M
YoY Change 28.91% 145.13% 22.52%
LONG-TERM ASSETS
Property, Plant & Equipment $4.292M $4.075M $3.900M
YoY Change 4.05% 4.49% 27.02%
Goodwill
YoY Change
Intangibles $1.165M $1.070M
YoY Change 43.1%
Long-Term Investments $300.0K $300.0K
YoY Change
Other Assets $259.2K $469.3K
YoY Change
Total Long-Term Assets $7.751M $5.839M $4.900M
YoY Change 38.63% 19.17% 26.66%
TOTAL ASSETS
Total Short-Term Assets $27.38M $33.34M $13.60M
Total Long-Term Assets $7.751M $5.839M $4.900M
Total Assets $35.13M $39.18M $18.50M
YoY Change 30.93% 111.77% 23.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.668M $1.796M $1.800M
YoY Change -28.39% -0.22% 17.68%
Accrued Expenses $1.614M $1.243M $1.200M
YoY Change 16.14% 3.55% 13.93%
Deferred Revenue $152.4K $316.5K
YoY Change 107.4%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $4.677M $3.582M $3.300M
YoY Change -14.25% 8.55% -24.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.677M $3.582M $3.300M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $4.677M $3.582M $3.300M
YoY Change -14.25% 8.55% -29.53%
SHAREHOLDERS EQUITY
Retained Earnings -$118.3M -$112.7M
YoY Change 22.59%
Common Stock $27.59K $27.56K
YoY Change 13.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.46M $35.60M $15.20M
YoY Change
Total Liabilities & Shareholders Equity $35.13M $39.18M $18.50M
YoY Change 30.93% 111.77% 23.59%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$5.564M -$4.798M -$5.502M
YoY Change -5.36% -12.8% 109153.38%
Depreciation, Depletion And Amortization $540.0K $460.0K $320.0K
YoY Change 100.0% 43.75% 18.52%
Cash From Operating Activities -$4.610M -$5.180M -$4.540M
YoY Change 5.25% 14.1% 24.38%
INVESTING ACTIVITIES
Capital Expenditures -$1.850M -$500.0K -$820.0K
YoY Change 83.17% -39.02% 7.89%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$1.600M -$500.0K -$820.0K
YoY Change 58.42% -39.02% 7.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.978M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 7.920M
YoY Change -100.0% -100.0% 37.26%
NET CHANGE
Cash From Operating Activities -4.610M -5.180M -4.540M
Cash From Investing Activities -1.600M -500.0K -820.0K
Cash From Financing Activities 0.000 0.000 7.920M
Net Change In Cash -6.210M -5.680M 2.560M
YoY Change -200.16% -321.88% 88.24%
FREE CASH FLOW
Cash From Operating Activities -$4.610M -$5.180M -$4.540M
Capital Expenditures -$1.850M -$500.0K -$820.0K
Free Cash Flow -$2.760M -$4.680M -$3.720M
YoY Change -18.1% 25.81% 28.72%

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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2018Q3 us-gaap Net Income Loss
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CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2018Q3 us-gaap Preferred Stock Dividends And Other Adjustments
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CY2017Q3 us-gaap Preferred Stock Dividends And Other Adjustments
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CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5259790 USD
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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us-gaap Depreciation And Amortization
DepreciationAndAmortization
946335 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
734175 USD
us-gaap Capitalized Computer Software Amortization1
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75000 USD
us-gaap Capitalized Computer Software Amortization1
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us-gaap Share Based Compensation
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1473383 USD
us-gaap Derivative Gain Loss On Derivative Net
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50598 USD
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us-gaap Increase Decrease In Accounts Receivable
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367170 USD
vuzi Increasedecrease In Accrued Revenue
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-497784 USD
vuzi Increasedecrease In Accrued Revenue
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687001 USD
us-gaap Increase Decrease In Inventories
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2950276 USD
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us-gaap Share Based Compensation
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y8M12D
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
291000 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
425000 USD
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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442185 USD
vuzi Increase Decrease In Unearned Revenue
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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734478 USD
us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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vuzi Increase Decrease In Unearned Revenue
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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26779 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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-5626 USD
us-gaap Increase Decrease In Employee Related Liabilities
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-327469 USD
us-gaap Increase Decrease In Employee Related Liabilities
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-240110 USD
us-gaap Increase Decrease In Interest Payable Net
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39687 USD
us-gaap Increase Decrease In Interest Payable Net
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77537 USD
us-gaap Net Cash Provided By Used In Operating Activities
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-17934510 USD
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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886713 USD
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Intangible Assets
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323347 USD
us-gaap Payments To Acquire Intangible Assets
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155284 USD
us-gaap Payments To Develop Software
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87500 USD
us-gaap Payments To Develop Software
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329204 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Warrant Exercises
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39375 USD
us-gaap Proceeds From Warrant Exercises
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0 USD
us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Payments Of Debt Issuance Costs
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1975000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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us-gaap Net Cash Provided By Used In Financing Activities
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28064375 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Interest Paid Net
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104105 USD
us-gaap Interest Paid Net
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310 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
0 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
1861283 USD
vuzi Cumulative Revenue Adjustment
CumulativeRevenueAdjustment
81724 USD
vuzi Cumulative Revenue Adjustment
CumulativeRevenueAdjustment
0 USD
CY2017Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
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38100 shares
CY2018Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
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CY2017Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
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CY2017Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1184912 shares
vuzi Class Of Warrant Or Right Exercised In Period
ClassOfWarrantOrRightExercisedInPeriod
113850 shares
vuzi Class Of Warrant Or Right Grants In Period
ClassOfWarrantOrRightGrantsInPeriod
1200000 shares
vuzi Class Of Warrant Or Right Expired In Period
ClassOfWarrantOrRightExpiredInPeriod
8000 shares
CY2018Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
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vuzi Class Of Warrant Or Right Outstanding Weighted Average Remaining Contractual Terms
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractualTerms
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invest Investment Warrants Exercise Price
InvestmentWarrantsExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
924309 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
465554 shares
vuzi Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
5.72
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
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CY2018Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
7632 USD
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
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CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due
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CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due Current
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us-gaap Lease And Rental Expense
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us-gaap Lease And Rental Expense
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CY2018Q3 us-gaap Lease And Rental Expense
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CY2017Q3 us-gaap Lease And Rental Expense
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vuzi Increase Decrease In Manufacturing Vendors Prepayments
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358997 USD
vuzi Increase Decrease In Manufacturing Vendors Prepayments
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CY2018Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
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0 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.88
CY2018Q3 vuzi Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Nonvested In Period Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedInPeriodFairValue
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CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.19
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.28
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.65
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21366712 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27046913 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20515363 shares
us-gaap Basis Of Accounting
BasisOfAccounting
<div style="background: white; margin: 0px 0px 0px 0in; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt;"><div style="font-weight:bold;display:inline;"><div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Note&#160;1&#160;&#8211; Basis of Presentation</div></div></div><div style="background: none; margin: 0px 0px 0px 34.55pt; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt;"><div style="background: none;;font-weight:bold;display:inline;"><div style="font-size: 10pt; text-decoration: none; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); background: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></div><div style="margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The accompanying unaudited condensed consolidated financial statements of Vuzix Corporation (&#8220;the Company") have been prepared in accordance with generally accepted accounting principles in the United States of America (&#8220;GAAP&#8221;) for interim financial information and with the instructions to Form 10-Q and Regulation S-X of the Securities and Exchange Commission&#160;(the &#8220;SEC&#8221;).&#160;</div><div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Accordingly, the unaudited condensed consolidated financial statements do not include all information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Certain re-classifications have been made to prior periods to conform with current reporting. The results of the Company&#8217;s operations for the nine months ended September 30, 2018 are not necessarily indicative of the results of the Company&#8217;s operations for the full fiscal year or any other period.</div></div><div style="margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none;"><div style="font-size: 10pt; text-decoration: none; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); background: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The accompanying condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto of the Company as of December 31, 2017, as reported in the Company&#8217;s Annual Report&#160;</div>on Form 10-K filed with the SEC on March 16, 2018.</div><div style="margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none;"><div style="font-size: 10pt; text-decoration: none; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); background: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="background: white; margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">For the nine months ended September 30, 2018, Toshiba Japan represented 67%&#160;of&#160;</div>the Company&#8217;s<div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">&#160;engineering revenues and 27%&#160;of&#160;</div>the Company&#8217;s&#160;<div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">total revenues as compared to approximately&#160;98%&#160;and 24%&#160;in the comparable 2017 period. As of September 30, 2018 and 2017, Toshiba Japan accounted for 1% and 0% of&#160;</div>the Company&#8217;s&#160;<div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">accounts </div> receivables and 0% and 59% of the Company&#8217;s accrued <div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> project revenue, respectively.</div></div><div style="margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none;"><div style="font-size: 10pt; text-decoration: none; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); background: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="background: white; margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">For the nine months ended September 30, 2018, AMA SA represented 14% of&#160;</div>the Company&#8217;s&#160;<div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">total revenues as compared to 8% in the comparable 2017 period. As of September 30, 2018 and 2017, AMA SA accounted for 0% and 6%&#160;of&#160;</div>the Company&#8217;s&#160;<div style="font-size: 10pt; font-family: &quot;times new roman&quot;, times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">accounts receivables, respectively.</div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
0 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-56836 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
250000 USD
vuzi Unamortized On Senior Convertible Debt Attributed To Embedded Conversion Price Adjustment Option
UnamortizedOnSeniorConvertibleDebtAttributedToEmbeddedConversionPriceAdjustmentOption
166800 USD
vuzi Accrued Stock Based Compensation Expense
AccruedStockBasedCompensationExpense
313129 USD
vuzi Accrued Stock Based Compensation Expense
AccruedStockBasedCompensationExpense
0 USD
CY2018Q3 us-gaap Cost Method Investments Original Cost
CostMethodInvestmentsOriginalCost
250000 USD
CY2017Q4 us-gaap Cost Method Investments Original Cost
CostMethodInvestmentsOriginalCost
0 USD
CY2018Q2 vuzi Cost Method Investment Ownership Percentage
CostMethodInvestmentOwnershipPercentage
0.01 pure
CY2018Q2 vuzi Cost Method Investment Additional Ownership Percentage
CostMethodInvestmentAdditionalOwnershipPercentage
0.04 pure
vuzi Fair Value Measurement With Unobservable Inputs Reclassification Of Warrant Exercises To Additional Paid In Capital
FairValueMeasurementWithUnobservableInputsReclassificationOfWarrantExercisesToAdditionalPaidInCapital
-166800 USD
us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
100000 shares
CY2018Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
6.10
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
610000 USD
vuzi Aggregate Fair Market Value Of Sock Awards
AggregateFairMarketValueOfSockAwards
122000 USD
vuzi Common Stock Awards Compensation Expense
CommonStockAwardsCompensationExpense
216744 USD
vuzi Common Stock Awards Compensation Expense
CommonStockAwardsCompensationExpense
83750 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-585 USD
us-gaap Inventory Write Down
InventoryWriteDown
-211416 USD
us-gaap Inventory Write Down
InventoryWriteDown
1151482 USD
us-gaap Increase Decrease In Due From Officers And Stockholders Current
IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent
0 USD
us-gaap Increase Decrease In Due From Officers And Stockholders Current
IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent
61000 USD
vuzi Unamortized On Senior Convertible Debt Attributed To Embedded Conversion Price Adjustment Option
UnamortizedOnSeniorConvertibleDebtAttributedToEmbeddedConversionPriceAdjustmentOption
0 USD
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
100000 USD
vuzi Onetime Compensation Expense
OnetimeCompensationExpense
384000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
0 USD
CY2017 us-gaap Dividends Preferred Stock
DividendsPreferredStock
0 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
0 USD
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
166800 USD
CY2018Q3 vuzi Gain Loss On Inventory Revaluation And Product Discontinuance
GainLossOnInventoryRevaluationAndProductDiscontinuance
211416 USD
CY2017Q3 vuzi Gain Loss On Inventory Revaluation And Product Discontinuance
GainLossOnInventoryRevaluationAndProductDiscontinuance
-1151482 USD
vuzi Gain Loss On Inventory Revaluation And Product Discontinuance
GainLossOnInventoryRevaluationAndProductDiscontinuance
211416 USD
vuzi Gain Loss On Inventory Revaluation And Product Discontinuance
GainLossOnInventoryRevaluationAndProductDiscontinuance
-1151482 USD
CY2015Q1 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
Each share of Series A Preferred Stock is convertible, at the option of the Series A holder, into 100 shares of the Company&#8217;s common stock (determined by dividing the Series A Original Issue Price of $500 by the Series A Conversion Price). The Series A Conversion Price is $5.00, subject to adjustment in the event of stock splits, dividends or other combinations.
CY2018Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
196223 USD
CY2017Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
196223 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
vuzi Reclassification Of Unamortized Stock Compensation Expense Included In Prepaid Expenses
ReclassificationOfUnamortizedStockCompensationExpenseIncludedInPrepaidExpenses
740000 USD
vuzi Reclassification Of Unamortized Stock Compensation Expense Included In Prepaid Expenses
ReclassificationOfUnamortizedStockCompensationExpenseIncludedInPrepaidExpenses
301250 USD
vuzi Aggregate Fair Market Value Of Sock Awards1
AggregateFairMarketValueOfSockAwards1
488000 USD
CY2018Q2 us-gaap Cost Method Investments Original Cost
CostMethodInvestmentsOriginalCost
250000 USD
us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
80000000 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2018-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
Vuzix Corp
dei Entity Central Index Key
EntityCentralIndexKey
0001463972
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
VUZI
CY2018Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
27587502 shares
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Small Business
EntitySmallBusiness
false

Files In Submission

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0001144204-18-058336-index-headers.html Edgar Link pending
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