$WTER
ALKALINE WATER Co INC

2021 Q3 Form 10-Q Financial Statement

#000106299321010494 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $15.26M $10.16M
YoY Change 50.15% -2.68%
Cost Of Revenue $10.09M $6.509M
YoY Change 55.03% 9.22%
Gross Profit $5.164M $3.651M
YoY Change 41.44% -18.68%
Gross Profit Margin 33.85% 35.94%
Selling, General & Admin $15.37M $8.480M
YoY Change 81.28% 20.11%
% of Gross Profit 297.67% 232.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $159.0K $184.4K
YoY Change -13.77% -23.09%
% of Gross Profit 3.08% 5.05%
Operating Expenses $15.37M $8.660M
YoY Change 77.51% 18.63%
Operating Profit -$10.21M -$4.231M
YoY Change 141.29% 50.48%
Interest Expense -$170.2K -$130.0K
YoY Change 30.92% 18.18%
% of Operating Profit
Other Income/Expense, Net -$170.2K -$130.9K
YoY Change 29.99% 15.36%
Pretax Income -$10.38M -$4.360M
YoY Change 138.04% 49.32%
Income Tax
% Of Pretax Income
Net Earnings -$10.38M -$4.362M
YoY Change 137.95% 49.12%
Net Earnings / Revenue -68.03% -42.93%
Basic Earnings Per Share -$0.11
Diluted Earnings Per Share -$110.8K -$64.22K
COMMON SHARES
Basic Shares Outstanding 93.67M shares 67.89M shares
Diluted Shares Outstanding 93.67M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.42M $3.980M
YoY Change 161.79% -42.07%
Cash & Equivalents $10.42M $3.977M
Short-Term Investments
Other Short-Term Assets $2.947M $2.620M
YoY Change 12.46% 29.7%
Inventory $6.278M $4.250M
Prepaid Expenses
Receivables $10.98M $5.777M
Other Receivables $0.00 $0.00
Total Short-Term Assets $30.63M $16.63M
YoY Change 84.17% 11.31%
LONG-TERM ASSETS
Property, Plant & Equipment $1.198M $1.120M
YoY Change 6.96% -33.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.198M $1.123M
YoY Change 6.63% -33.53%
TOTAL ASSETS
Total Short-Term Assets $30.63M $16.63M
Total Long-Term Assets $1.198M $1.123M
Total Assets $31.82M $17.75M
YoY Change 79.26% 6.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.985M $5.264M
YoY Change 51.67% 18.57%
Accrued Expenses $1.595M $1.512M
YoY Change 5.49% 46.83%
Deferred Revenue
YoY Change
Short-Term Debt $6.998M $4.800M
YoY Change 45.79% 19.7%
Long-Term Debt Due $330.6K $220.0K
YoY Change 50.25%
Total Short-Term Liabilities $16.91M $11.91M
YoY Change 41.92% 25.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $110.0K
YoY Change -100.0%
Other Long-Term Liabilities $193.8K $20.00K
YoY Change 869.0% 100.0%
Total Long-Term Liabilities $193.8K $130.0K
YoY Change 49.08% 1200.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.91M $11.91M
Total Long-Term Liabilities $193.8K $130.0K
Total Liabilities $17.10M $12.05M
YoY Change 41.95% 26.96%
SHAREHOLDERS EQUITY
Retained Earnings -$60.90M
YoY Change
Common Stock $73.32K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.72M $5.705M
YoY Change
Total Liabilities & Shareholders Equity $31.82M $17.75M
YoY Change 79.26% 6.75%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$10.38M -$4.362M
YoY Change 137.95% 49.12%
Depreciation, Depletion And Amortization $159.0K $184.4K
YoY Change -13.77% -23.09%
Cash From Operating Activities -$12.68M -$6.700M
YoY Change 89.18% 46.29%
INVESTING ACTIVITIES
Capital Expenditures -$254.0K -$20.00K
YoY Change 1169.85% -88.24%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$254.0K -$20.00K
YoY Change 1169.85% -88.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 18.85M 5.090M
YoY Change 270.34% 214.2%
NET CHANGE
Cash From Operating Activities -12.68M -6.700M
Cash From Investing Activities -254.0K -20.00K
Cash From Financing Activities 18.85M 5.090M
Net Change In Cash 5.921M -1.630M
YoY Change -463.26% -47.92%
FREE CASH FLOW
Cash From Operating Activities -$12.68M -$6.700M
Capital Expenditures -$254.0K -$20.00K
Free Cash Flow -$12.42M -$6.680M
YoY Change 85.95% 51.47%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2021Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
104333373 shares
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
104333373 shares
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
4970767 USD
CY2020Q3 wter Common Shares Issued To Non Employees
CommonSharesIssuedToNonEmployees
326599 USD
CY2020Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
204594 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
5704655 USD
CY2021Q2 wter Stock Issued During Period Warrant Exercises
StockIssuedDuringPeriodWarrantExercises
652777 USD
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
48231 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-7425626 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
7208047 USD
CY2021Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4995250 USD
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
14722269 USD
CY2021Q3 wter Stock Issued During Period Warrant Exercises
StockIssuedDuringPeriodWarrantExercises
11904220 USD
CY2021Q3 wter Common Shares Issued To Non Employees
CommonSharesIssuedToNonEmployees
307719 USD
CY2021Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
625556 USD
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
59950 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-10378473 USD
CY2021Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
4146330 USD
CY2021Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2131514 USD
CY2021Q3 us-gaap Inventory Net
InventoryNet
6277844 USD
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <div style="text-align:justify"> <p style="margin:0pt"> </p><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Concentration Risks</span></span></span> </div> <p style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">We have 2 major customers that together account for 30% (18% and 12%, respectively) of accounts receivable at September 30, 2021, 3 customers that accounts for 43% (21%, 11% and 11%, respectively) of total revenues for the three months ended September 30, 2021 and 3 customers that accounts for 44% (21%, 13% and 10%, respectively) of the total revenues earned for the six months ended September 30, 2021. The Company has 3 vendors that accounts for 53% (32%, 11% and 10% respectively) of purchases for the three months ended September 30, 2021 and 3 vendors that accounted for 53% (30%, 13% and 10% respectively) of purchases for the six months ended September 30, 2021.</span></span></p> </div> <div> <p style="text-align:justify"><span style="font-family:Times New Roman,Times,serif"><span style="font-size:10pt"><span>We have 2 major customers that together account for 27% (15% and 12%, respectively) of accounts receivable at September 30, 2020, 1 customer that accounts for 25% of total revenues for the three months ended September 30, 2020 and 2 customers that accounts for 40% (22% and 18%, respectively) of the total revenues earned for the six months ended September 30, 2020. The Company has 3 vendors that accounts for 58% (25%, 21% and 12% respectively) of purchases for the three months ended September 30, 2020 and 3 vendors that accounted for 55% (24%, 19% and 12% respectively) of purchases for the six months ended September 30, 2020.</span></span></span></p> </div>
CY2020Q3 wter Reclassification Of Depreciation Expenses To Cost Of Goods Sold
ReclassificationOfDepreciationExpensesToCostOfGoodsSold
182306 USD
wter Reclassification Of Depreciation Expenses To Cost Of Goods Sold
ReclassificationOfDepreciationExpensesToCostOfGoodsSold
412317 USD
CY2020Q3 wter Reclassification Of Depreciation Expenses To Sales And Marketing Expense
ReclassificationOfDepreciationExpensesToSalesAndMarketingExpense
595384 USD
wter Reclassification Of Depreciation Expenses To Sales And Marketing Expense
ReclassificationOfDepreciationExpensesToSalesAndMarketingExpense
1382508 USD
CY2020Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
6509264 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
15104105 USD
CY2020Q3 us-gaap Revenues
Revenues
10160552 USD
us-gaap Revenues
Revenues
23592862 USD
CY2020Q3 us-gaap Gross Profit
GrossProfit
3651288 USD
us-gaap Gross Profit
GrossProfit
8488757 USD
wter Employee Service Share Based Compensation Compensation Cost Not Yet Recognized Quarter Two
EmployeeServiceShareBasedCompensationCompensationCostNotYetRecognizedQuarterTwo
556758 USD
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3041444 USD
CY2021Q3 wter Employee Service Share Based Compensation Compensation Cost Not Yet Recognized Year Two
EmployeeServiceShareBasedCompensationCompensationCostNotYetRecognizedYearTwo
3227030 USD
CY2021Q3 wter Employee Service Share Based Compensation Compensation Cost Not Yet Recognized Year Three
EmployeeServiceShareBasedCompensationCompensationCostNotYetRecognizedYearThree
3227030 USD
CY2021Q2 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
652777 USD
CY2021Q3 wter Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
9523376 shares
CY2021Q3 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
11904220 USD
CY2021Q3 wter Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
4757381 shares
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.25
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
7992 USD
CY2021Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
162668 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
91000 shares
CY2021Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
48230 USD
CY2021Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
118692 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
55000 shares
CY2021Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
59950 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
454000 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
454000 shares
CY2021Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.75
CY2021Q2 wter Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
1277777 shares
CY2021Q3 wter Operating Lease Right Of Use Asset Current
OperatingLeaseRightOfUseAssetCurrent
185517 USD
CY2021Q3 wter Operating Lease Right Of Use Asset Non Current
OperatingLeaseRightOfUseAssetNonCurrent
190348 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070 pure
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
118977 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
119150 USD

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