2013 Q1 Form 10-Q Financial Statement
#000114420413027414 Filed on May 09, 2013
Income Statement
| Concept | 2013 Q1 | 2012 Q1 |
|---|---|---|
| Revenue | $0.00 | $106.0K |
| YoY Change | -100.0% | -27.89% |
| Cost Of Revenue | $6.681M | $1.251M |
| YoY Change | 434.05% | 4904.0% |
| Gross Profit | -$6.681M | -$1.145M |
| YoY Change | 483.49% | -1038.52% |
| Gross Profit Margin | -1080.19% | |
| Selling, General & Admin | $3.991M | $616.0K |
| YoY Change | 547.89% | -52.1% |
| % of Gross Profit | ||
| Research & Development | $270.0K | $0.00 |
| YoY Change | -100.0% | |
| % of Gross Profit | ||
| Depreciation & Amortization | $840.0K | |
| YoY Change | ||
| % of Gross Profit | ||
| Operating Expenses | $4.261M | $616.0K |
| YoY Change | 591.72% | -65.87% |
| Operating Profit | -$10.50M | -$2.656M |
| YoY Change | 295.29% | 57.81% |
| Interest Expense | -$380.0K | $0.00 |
| YoY Change | -100.0% | |
| % of Operating Profit | ||
| Other Income/Expense, Net | $20.00K | $0.00 |
| YoY Change | -100.0% | |
| Pretax Income | -$10.86M | -$5.624M |
| YoY Change | 93.08% | 415.49% |
| Income Tax | $0.00 | $20.00K |
| % Of Pretax Income | ||
| Net Earnings | -$11.96M | -$5.644M |
| YoY Change | 111.98% | 408.93% |
| Net Earnings / Revenue | -5324.53% | |
| Basic Earnings Per Share | -$0.15 | |
| Diluted Earnings Per Share | -$0.15 | -$187.0M |
| COMMON SHARES | ||
| Basic Shares Outstanding | 82.39M shares | |
| Diluted Shares Outstanding | 82.39M shares |
Balance Sheet
| Concept | 2013 Q1 | 2012 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $52.20M | $3.600M |
| YoY Change | 1350.0% | 0.0% |
| Cash & Equivalents | $49.13M | $3.630M |
| Short-Term Investments | $3.100M | |
| Other Short-Term Assets | $200.0K | $100.0K |
| YoY Change | 100.0% | 0.0% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $100.0K | $152.0K |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $52.60M | $3.926M |
| YoY Change | 1239.79% | 3.32% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $300.0K | $133.0K |
| YoY Change | 125.56% | -33.5% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $0.00 | $0.00 |
| YoY Change | ||
| Total Long-Term Assets | $99.10M | $141.0K |
| YoY Change | 70183.69% | -29.5% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $52.60M | $3.926M |
| Total Long-Term Assets | $99.10M | $141.0K |
| Total Assets | $151.7M | $4.067M |
| YoY Change | 3630.02% | 1.68% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $3.600M | $600.0K |
| YoY Change | 500.0% | 50.0% |
| Accrued Expenses | $500.0K | $400.0K |
| YoY Change | 25.0% | 0.0% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $200.0K |
| YoY Change | -100.0% | |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $4.100M | $1.210M |
| YoY Change | 238.84% | -42.38% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | -100.0% | |
| Other Long-Term Liabilities | $7.900M | $1.800M |
| YoY Change | 338.89% | 50.0% |
| Total Long-Term Liabilities | $7.900M | $1.836M |
| YoY Change | 330.28% | -34.43% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $4.100M | $1.210M |
| Total Long-Term Liabilities | $7.900M | $1.836M |
| Total Liabilities | $12.00M | $3.046M |
| YoY Change | 293.96% | -37.84% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | $139.0K | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $139.7M | $1.021M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $151.7M | $4.067M |
| YoY Change | 3630.02% | 1.68% |
Cashflow Statement
| Concept | 2013 Q1 | 2012 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$11.96M | -$5.644M |
| YoY Change | 111.98% | 408.93% |
| Depreciation, Depletion And Amortization | $840.0K | |
| YoY Change | ||
| Cash From Operating Activities | -$4.872M | -$1.215M |
| YoY Change | 300.99% | -19.91% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $28.00K | $5.000K |
| YoY Change | 460.0% | -16.67% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$3.110M | $0.00 |
| YoY Change | -100.0% | |
| Cash From Investing Activities | -$3.140M | -$5.000K |
| YoY Change | 62700.0% | -135.71% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $0.00 | |
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | $174.0K | 3.652M |
| YoY Change | -95.24% | -1158.55% |
| NET CHANGE | ||
| Cash From Operating Activities | -$4.872M | -1.215M |
| Cash From Investing Activities | -$3.140M | -5.000K |
| Cash From Financing Activities | $174.0K | 3.652M |
| Net Change In Cash | -$7.838M | 2.432M |
| YoY Change | -422.29% | -231.6% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$4.872M | -$1.215M |
| Capital Expenditures | $28.00K | $5.000K |
| Free Cash Flow | -$4.900M | -$1.220M |
| YoY Change | 301.64% | -19.89% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2012 | vrng |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Derivative Warrants Issued By Legal Parent
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityDerivativeWarrantsIssuedByLegalParent
|
3162000 | USD |
| CY2012Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
1251000 | USD |
| CY2012 | us-gaap |
Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
|
295000 | shares |
| CY2013Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
6681000 | USD |
| us-gaap |
Cost Of Revenue
CostOfRevenue
|
20754000 | USD | |
| CY2012Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
0 | USD |
| CY2013Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
826000 | USD |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2566000 | USD | |
| CY2012Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
616000 | USD |
| CY2013Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
4137000 | USD |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
16207000 | USD |
