$XWEL
XWELL Inc Stock $xwel

$xwel Overview Financials Valuation SEC Filings Company Website

2016 Q1 Form 10-Q Financial Statement

#000114420416099238 Filed on May 05, 2016

Income Statement

Concept	2016 Q1	2015 Q4	2015 Q1
Revenue	$2.044M	$22.54M	$150.0K
YoY Change	1262.67%	9917.78%	-40.0%
Cost Of Revenue	$1.847M	$4.010M	$0.00
YoY Change		-29.03%	-100.0%
Gross Profit	$197.0K	$18.53M	$150.0K
YoY Change	31.33%	-441.88%	-103.24%
Gross Profit Margin	9.64%	82.21%	100.0%
Selling, General & Admin	$2.952M	$2.990M	$2.998M
YoY Change	-1.53%	-16.01%	-29.34%
% of Gross Profit	1498.48%	16.14%	1998.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$850.0K	$860.0K	$800.0K
YoY Change	6.25%		-16.67%
% of Gross Profit	431.47%	4.64%	533.33%
Operating Expenses	$2.952M	$3.850M	$2.998M
YoY Change	-1.53%	17.02%	-32.9%
Operating Profit	-$3.606M	$14.68M	-$6.753M
YoY Change	-46.6%	-119.36%	-31.27%
Interest Expense	$476.0K	$710.0K	$0.00
YoY Change		-3650.0%	-100.0%
% of Operating Profit		4.84%
Other Income/Expense, Net	-$349.0K	-$40.00K	-$223.0K
YoY Change	56.5%	-33.33%	-22400.0%
Pretax Income	-$3.955M	$15.23M	-$6.976M
YoY Change	-43.31%	-120.07%	-36.0%
Income Tax	$0.00	-$870.0K	$0.00
% Of Pretax Income		-5.71%
Net Earnings	-$3.955M	$16.20M	-$6.976M
YoY Change	-43.31%	-121.28%	-37.2%
Net Earnings / Revenue	-193.49%	71.87%	-4650.67%
Basic Earnings Per Share	-$0.28		-$0.75
Diluted Earnings Per Share	-$0.28	$81.00M	-$0.75
COMMON SHARES
Basic Shares Outstanding	14.16M shares	112.7M shares	9.340M shares
Diluted Shares Outstanding	14.16M shares		9.340M shares

Balance Sheet

Concept	2016 Q1	2015 Q4	2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$20.60M	$25.00M	$12.20M
YoY Change	68.85%	56.25%	-56.12%
Cash & Equivalents	$20.56M	$24.95M	$12.24M
Short-Term Investments
Other Short-Term Assets	$1.800M	$1.396M	$389.0K
YoY Change	362.72%	173.73%	-46.64%
Inventory	$475.0K	$379.0K
Prepaid Expenses	$439.0K	$674.0K
Receivables	$1.060M	$246.0K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$23.40M	$28.28M	$14.70M
YoY Change	59.21%	52.03%	-48.51%
LONG-TERM ASSETS
Property, Plant & Equipment		$0.00	$0.00
YoY Change		-100.0%	-100.0%
Goodwill		$0.00
YoY Change
Intangibles		$16.48M	$16.82M
YoY Change		-6.52%	-22.81%
Long-Term Investments
YoY Change
Other Assets	$900.0K	$916.0K	$989.0K
YoY Change	-9.0%	-24.3%	-4.35%
Total Long-Term Assets	$21.50M	$22.26M	$17.81M
YoY Change	20.72%	18.16%	-79.92%
TOTAL ASSETS
Total Short-Term Assets	$23.40M	$28.28M	$14.70M
Total Long-Term Assets	$21.50M	$22.26M	$17.81M
Total Assets	$44.90M	$50.53M	$32.51M
YoY Change	38.12%	34.99%	-72.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$3.700M	$4.278M	$4.800M
YoY Change	-22.92%	18.9%	77.78%
Accrued Expenses		$607.0K
YoY Change		30.54%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$3.100M	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$3.700M	$9.141M	$4.750M
YoY Change	-22.11%	93.17%	62.23%
LONG-TERM LIABILITIES
Long-Term Debt	$600.0K	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$152.0K	$386.0K	$1.507M
YoY Change	-89.91%	-71.39%	4609.38%
Total Long-Term Liabilities	$152.0K	$386.0K	$1.507M
YoY Change	-89.91%	-71.39%	4609.38%
TOTAL LIABILITIES
Total Short-Term Liabilities	$3.700M	$9.141M	$4.750M
Total Long-Term Liabilities	$152.0K	$386.0K	$1.507M
Total Liabilities	$4.900M	$9.943M	$6.257M
YoY Change	-21.69%	63.51%	111.39%
SHAREHOLDERS EQUITY
Retained Earnings	-$200.8M	-$196.9M	-$192.7M
YoY Change	4.22%	6.01%
Common Stock	$150.0K	$132.0K	$936.0K
YoY Change	-83.97%	41.94%	8.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$40.02M	$40.52M	$26.25M
YoY Change
Total Liabilities & Shareholders Equity	$44.88M	$50.46M	$32.51M
YoY Change	38.04%	34.79%	-72.27%

Cashflow Statement

Concept	2016 Q1	2015 Q4	2015 Q1
OPERATING ACTIVITIES
Net Income	-$3.955M	$16.20M	-$6.976M
YoY Change	-43.31%	-121.28%	-37.2%
Depreciation, Depletion And Amortization	$850.0K	$860.0K	$800.0K
YoY Change	6.25%		-16.67%
Cash From Operating Activities	-$5.429M	$10.98M	-$3.502M
YoY Change	55.03%	-234.56%	-58.77%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	$0.00	$0.00
YoY Change			-100.0%
Acquisitions
YoY Change
Other Investing Activities	$1.170M	$170.0K	-$280.0K
YoY Change	-517.86%	-270.0%
Cash From Investing Activities	$1.087M	$170.0K	-$278.0K
YoY Change	-491.01%	-270.0%	286.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$50.00K	-610.0K	$0.00
YoY Change			-100.0%
NET CHANGE
Cash From Operating Activities	-$5.429M	10.98M	-$3.502M
Cash From Investing Activities	$1.087M	170.0K	-$278.0K
Cash From Financing Activities	-$50.00K	-610.0K	$0.00
Net Change In Cash	-$4.392M	10.54M	-$3.780M
YoY Change	16.19%	-227.6%	-34.48%
FREE CASH FLOW
Cash From Operating Activities	-$5.429M	$10.98M	-$3.502M
Capital Expenditures	$0.00	$0.00	$0.00
Free Cash Flow	-$5.429M	$10.98M	-$3.502M
YoY Change	55.03%	-234.56%	-59.11%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2015Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	386000	USD
CY2015Q4	vrng	Accounts Payable Accrued Expenses And Other Current Liabilities AccountsPayableAccruedExpensesAndOtherCurrentLiabilities	6030000	USD
CY2015Q4	us-gaap	Liabilities Current LiabilitiesCurrent	9141000	USD
CY2016Q1	us-gaap	Derivative Liabilities Noncurrent DerivativeLiabilitiesNoncurrent	428000	USD
CY2015Q4	us-gaap	Derivative Liabilities Noncurrent DerivativeLiabilitiesNoncurrent	416000	USD
CY2016Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	152000	USD
CY2016Q1	us-gaap	Stockholders Equity StockholdersEquity	40020000	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	40516000	USD
CY2016Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	44875000	USD
CY2015Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	50459000	USD
CY2015Q4	us-gaap	Senior Notes Current SeniorNotesCurrent	3111000	USD
CY2016Q1	vrng	Accounts Payable Accrued Expenses And Other Current Liabilities AccountsPayableAccruedExpensesAndOtherCurrentLiabilities	3721000	USD
CY2016Q1	us-gaap	Senior Notes Current SeniorNotesCurrent	0	USD
CY2016Q1	us-gaap	Legal Fees LegalFees	720000	USD
CY2015Q1	us-gaap	Legal Fees LegalFees	3101000	USD
CY2016Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2952000	USD
CY2015Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2998000	USD
CY2016Q1	us-gaap	Costs And Expenses CostsAndExpenses	5650000	USD
CY2016Q1	us-gaap	Revenues Revenues	2044000	USD
CY2016Q1	us-gaap	Common Stock Value CommonStockValue	150000	USD
CY2015Q4	us-gaap	Common Stock Value CommonStockValue	132000	USD
CY2016Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	240687000	USD
CY2015Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	237246000	USD
CY2016Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-200817000	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-196862000	USD
CY2015Q1	us-gaap	Costs And Expenses CostsAndExpenses	6903000	USD
CY2016Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-3606000	USD
CY2015Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-6753000	USD
CY2016Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	67000	USD
CY2015Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-223000	USD
CY2016Q1	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	270000	USD
CY2015Q1	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	0	USD
CY2016Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	14158680	shares
CY2015Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	9340490	shares
CY2016Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	14158680	shares
CY2015Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	9340490	shares
CY2016Q1	us-gaap	Interest Expense InterestExpense	476000	USD
CY2015Q1	us-gaap	Interest Expense InterestExpense	0	USD
CY2016Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-210000	USD
CY2015Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	USD
CY2016Q1	us-gaap	Licenses Revenue LicensesRevenue	750000	USD
CY2015Q1	us-gaap	Licenses Revenue LicensesRevenue	150000	USD
CY2016Q1	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	1294000	USD
CY2015Q1	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	0	USD
CY2015Q1	us-gaap	Revenues Revenues	150000	USD
CY2016Q1	us-gaap	Cost Of Revenue CostOfRevenue	1127000	USD
CY2015Q1	us-gaap	Cost Of Revenue CostOfRevenue	0	USD
CY2016Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	463000	USD
CY2015Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1872000	USD
CY2016Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	463000	USD
CY2016Q1	us-gaap	Net Income Loss NetIncomeLoss	-3955000	USD
CY2016Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	2996000	USD
CY2015Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	1872000	USD
CY2015Q1	us-gaap	Net Income Loss NetIncomeLoss	-6976000	USD
CY2015Q1	vrng	Adjustments To Additional Paid In Capital Conversion Of Derivative Warrants Into Equity Warrants AdjustmentsToAdditionalPaidInCapitalConversionOfDerivativeWarrantsIntoEquityWarrants	175000	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	463000	USD
CY2015Q1	us-gaap	Share Based Compensation ShareBasedCompensation	1872000	USD
CY2016Q1	us-gaap	Foreign Currency Transaction Gain Loss Unrealized ForeignCurrencyTransactionGainLossUnrealized	86000	USD
CY2015Q1	us-gaap	Foreign Currency Transaction Gain Loss Unrealized ForeignCurrencyTransactionGainLossUnrealized	-226000	USD
CY2016Q1	us-gaap	Increase Decrease In Other Current Assets IncreaseDecreaseInOtherCurrentAssets	-143000	USD
CY2015Q1	us-gaap	Increase Decrease In Other Current Assets IncreaseDecreaseInOtherCurrentAssets	-120000	USD
CY2016Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-2531000	USD
CY2015Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	231000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-5429000	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-3502000	USD
CY2016Q1	us-gaap	Increase Decrease In Deposits Outstanding IncreaseDecreaseInDepositsOutstanding	-1173000	USD
CY2015Q1	us-gaap	Increase Decrease In Deposits Outstanding IncreaseDecreaseInDepositsOutstanding	278000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	1087000	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-278000	USD
CY2016Q1	us-gaap	Effect Of Exchange Rate On Cash And Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents	1000	USD
CY2015Q1	us-gaap	Effect Of Exchange Rate On Cash And Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents	-4000	USD
CY2016Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-4391000	USD
CY2015Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-3784000	USD
CY2014Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	16023000	USD
CY2015Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	12239000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-50000	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	0	USD
CY2016Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	50000	USD
CY2015Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	USD
CY2016Q1	vrng	Conversion Original Debt And Interest Amount ConversionOriginalDebtAndInterestAmount	2996000	USD
CY2015Q1	vrng	Conversion Original Debt And Interest Amount ConversionOriginalDebtAndInterestAmount	0	USD
CY2016Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	851000	USD
CY2015Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	1025000	USD
CY2016Q1	vrng	Adjustments To Additional Paid In Capital Conversion Of Derivative Warrants Into Equity Warrants AdjustmentsToAdditionalPaidInCapitalConversionOfDerivativeWarrantsIntoEquityWarrants	0	USD
CY2012Q3	vrng	Number Of Patent Portfolio Acquired NumberOfPatentPortfolioAcquired	124	pure
CY2012Q3	vrng	Percentage Of Royalty Payable On Excess Of Gross Revenue PercentageOfRoyaltyPayableOnExcessOfGrossRevenue	0.35	pure
CY2016Q1	us-gaap	Payments For Deposits PaymentsForDeposits	1173000	USD
CY2016Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	2213707	shares
CY2015Q4	us-gaap	Business Combination Consideration Transferred Equity Interests Issued And Issuable BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable	5378000	USD
CY2015Q4	us-gaap	Noncash Or Part Noncash Acquisition Debt Assumed1 NoncashOrPartNoncashAcquisitionDebtAssumed1	193000	USD
CY2015Q4	us-gaap	Business Combination Consideration Transferred1 BusinessCombinationConsiderationTransferred1	5571000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents	144000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables	245000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory	234000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets	18000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets	641000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill	2146000	USD
CY2015Q4	us-gaap	Goodwill Goodwill	4863000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets	7650000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable	464000	USD
CY2015Q4	vrng	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Credit Line BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesCreditLine	270000	USD
CY2015Q4	vrng	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accrued Expenses BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccruedExpenses	44000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther	173000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Liabilities Current BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilitiesCurrent	866000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities	1817000	USD
CY2015Q4	us-gaap	Business Combination Acquisition Of Less Than100 Percent Noncontrolling Interest Fair Value BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue	262000	USD
CY2015Q4	us-gaap	Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Less Noncontrolling Interest BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest	5571000	USD
CY2016Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	851000	USD
CY2015Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	804000	USD
CY2016Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-349000	USD
CY2015Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-223000	USD
CY2016Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-3955000	USD
CY2015Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-6976000	USD
CY2016Q1	vrng	Operating Loss OperatingLoss	3606000	USD
CY2015Q1	vrng	Operating Loss OperatingLoss	6753000	USD
CY2016Q1	vrng	Warrants Or Rights Outstanding WarrantsOrRightsOutstanding	469179	shares
CY2016Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	439000	USD
CY2015Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	674000	USD
CY2016Q1	us-gaap	Inventory Net InventoryNet	475000	USD
CY2015Q4	us-gaap	Inventory Net InventoryNet	379000	USD
CY2016Q1	us-gaap	Other Assets Miscellaneous Current OtherAssetsMiscellaneousCurrent	20000	USD
CY2015Q4	us-gaap	Other Assets Miscellaneous Current OtherAssetsMiscellaneousCurrent	24000	USD
CY2016Q1	us-gaap	Taxes Payable Current TaxesPayableCurrent	538000	USD
CY2015Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	538000	USD
CY2016Q1	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	680000	USD
CY2015Q4	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	607000	USD
CY2015Q3	us-gaap	Loans Payable LoansPayable	300000	USD
CY2016Q1	us-gaap	Loans Payable LoansPayable	266000	USD
CY2016Q1	us-gaap	Senior Long Term Notes SeniorLongTermNotes	554000	USD
CY2015Q4	us-gaap	Senior Long Term Notes SeniorLongTermNotes	0	USD
CY2014Q4	us-gaap	Stockholders Equity StockholdersEquity	31180000	USD
CY2016Q1	vrng	Increase Decrease Fair Value Of Warrants And Conversion Feature IncreaseDecreaseFairValueOfWarrantsAndConversionFeature	11000	USD
CY2015Q1	vrng	Increase Decrease Fair Value Of Warrants And Conversion Feature IncreaseDecreaseFairValueOfWarrantsAndConversionFeature	0	USD
CY2016Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2015Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2016Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	150000000	shares
CY2016Q1	us-gaap	Debt Conversion Original Debt Amount1 DebtConversionOriginalDebtAmount1	2786000	USD
CY2015Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	150000000	shares
CY2016Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	14993686	shares
CY2015Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	13220050	shares
CY2016Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	14993686	shares
CY2015Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	13220050	shares
CY2016Q1	us-gaap	Stockholders Equity Reverse Stock Split StockholdersEquityReverseStockSplit	1:10 reverse stock split
CY2016Q1	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	109000	USD
CY2015Q1	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	91000	USD
CY2016Q1	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<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" 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"> <b><i>(d) Reclassification</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 27.5pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; size: 8.5in 11.0in" align="justify"><b><i> </i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; size: 8.5in 11.0in" align="justify">On November 27, 2015, the Company implemented the Reverse Stock Split, which became effective at the opening of trading on the NASDAQ on that date. <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">As of November 27, 2015, every 10 shares of the Company’s issued and outstanding common stock were combined into one share of its common stock, except to the extent that the Reverse Stock Split resulted in any of the Company’s stockholders owning a fractional share, which was rounded up to the next highest whole share. In connection with the Reverse Stock Split, there was no change in the nominal par value per share of $0.01.</font> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; size: 8.5in 11.0in" 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; size: 8.5in 11.0in" align="justify">Certain balances have been reclassified to conform to presentation requirements, including to retroactively present the effect of the Reverse Stock Split. All references to the number of shares of common stock, price per share and weighted average shares of common stock have been adjusted to reflect the Reverse Stock Split on a retroactive basis for all periods presented, unless otherwise noted.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; size: 8.5in 11.0in" 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; size: 8.5in 11.0in" align="justify">As a result of the adoption by the Company of <i> ASU No. 2015-03</i> on a retrospective basis, during the three month period ended March 31, 2016, the Company reclassified $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">73</font> of debt issuance costs as of December 31, 2015 from other current assets to senior secured notes.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q1	vrng	Amendment To Warrants As Part Of Debt Modification AmendmentToWarrantsAsPartOfDebtModification	-281000	USD
CY2015Q1	vrng	Amendment To Warrants As Part Of Debt Modification AmendmentToWarrantsAsPartOfDebtModification	0	USD
CY2016Q1	vrng	Loss Contingency Accrual Reversals During Period LossContingencyAccrualReversalsDuringPeriod	222000	USD
CY2016Q1	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	2503000	USD
CY2015Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	4885000	USD
CY2015Q3	us-gaap	Debt Instrument Description Of Variable Rate Basis DebtInstrumentDescriptionOfVariableRateBasis	lower of the Wall Street Journal prime rate plus 1% or 5% annually.
CY2015Q4	us-gaap	Loans Payable LoansPayable	268000	USD
CY2015Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.75
CY2016Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.28
CY2015Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.75
CY2015Q1	us-gaap	Stockholders Equity StockholdersEquity	26251000	USD
CY2016Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2015Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	871484	shares
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	0	shares
CY2016Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	0	shares
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	0	shares
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod	9000	shares
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	862484	shares
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	819358	shares
CY2016Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue	20.43
CY2016Q1	vrng	Share Based Compensation Arrangement By Share Based Payment Award Vested Options Expired Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardVestedOptionsExpiredWeightedAverageGrantDateFairValue	26.20
CY2015Q4	us-gaap	Stockholders Equity Note Stock Split StockholdersEquityNoteStockSplit	As of November 27, 2015, every 10 shares of the Companys issued and outstanding common stock were combined into one share of its common stock, except to the extent that the Reverse Stock Split resulted in any of the Companys stockholders owning a fractional share, which was rounded up to the next highest whole share. In connection with the Reverse Stock Split, there was no change in the nominal par value per share of $0.01.
CY2016Q1	vrng	Proceeds From Issuance Of Notes Payable And Warrants ProceedsFromIssuanceOfNotesPayableAndWarrants	12425000	USD
CY2016Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	0
CY2016Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	0
CY2016Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice	0
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	31.13
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	30.65
CY2016Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice	55.00
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	30.40
CY2016Q1	us-gaap	Debt Instrument Convertible Conversion Price1 DebtInstrumentConvertibleConversionPrice1	10.00
CY2016Q1	vrng	Fair Value Adjustment Of Debt Issuance Cost Capitalized FairValueAdjustmentOfDebtIssuanceCostCapitalized	183000	USD
CY2016Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.28
CY2015Q4	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	73000	USD
CY2016Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	14734000	USD
CY2015Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	13883000	USD
CY2016Q1	us-gaap	Repayments Of Debt RepaymentsOfDebt	1190000	USD
CY2016Q1	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	356000	USD
CY2016Q1	us-gaap	Convertible Long Term Notes Payable ConvertibleLongTermNotesPayable	2277000	USD
CY2016Q1	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	281000	USD
CY2016Q1	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	1267000	USD
CY2016Q1	us-gaap	Payments Of Debt Restructuring Costs PaymentsOfDebtRestructuringCosts	183000	USD
CY2016Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	50000	USD
CY2016Q1	vrng	Fair Value Of Considerations Provided To Holders Of Notes FairValueOfConsiderationsProvidedToHoldersOfNotes	1781000	USD
CY2016Q1	us-gaap	Senior Long Term Notes SeniorLongTermNotes	496000	USD
CY2016Q1	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	58000	USD
CY2016Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	30445000	USD
CY2015Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	30359000	USD
CY2016Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	15711000	USD
CY2015Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	16476000	USD
CY2016Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	1060000	USD
CY2015Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	246000	USD
CY2016Q1	vrng	Prepaid Litigation Expenses Returned PrepaidLitigationExpensesReturned	192000	USD
CY2016Q1	us-gaap	Payments For Deposits PaymentsForDeposits	1173000	USD
CY2016Q1	vrng	Prepaid Litigation Expenses Returned PrepaidLitigationExpensesReturned	192000	USD
CY2016Q1	us-gaap	Extinguishment Of Debt Amount ExtinguishmentOfDebtAmount	210000	USD
CY2016Q1	vrng	Old Conversion Price Of Warrants OldConversionPriceOfWarrants	10.00
CY2016Q1	vrng	New Conversion Price Of Warrants NewConversionPriceOfWarrants	3.00
CY2016Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	414000	USD
CY2015Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	0	USD
CY2016Q1	us-gaap	Extinguishment Of Debt Amount ExtinguishmentOfDebtAmount	356000	USD
CY2015Q1	us-gaap	Extinguishment Of Debt Amount ExtinguishmentOfDebtAmount	0	USD
CY2016Q1	us-gaap	Payments For Software PaymentsForSoftware	86000	USD
CY2015Q1	us-gaap	Payments For Software PaymentsForSoftware	0	USD
CY2016Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in"> <b><i><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>(b) Use of estimates</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in"> <b><i><font style="FONT-SIZE: 10pt"> </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; size: 8.5in 11.0in" align="justify">The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from such estimates. Significant items subject to such estimates and assumptions include the Company’s intangible assets, the useful lives of the Company’s intangible assets, the valuation of the Company’s derivative warrants, the valuation of stock-based compensation, deferred tax assets and liabilities, income tax uncertainties, and other contingencies.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q1	vrng	Value Of Shares Issued For Reduction Of Outstanding Principal Amount ValueOfSharesIssuedForReductionOfOutstandingPrincipalAmount	1267000	USD
CY2016Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	814000	USD
CY2015Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	0	USD
CY2016Q1	us-gaap	Nature Of Operations NatureOfOperations	<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: 27.5pt; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="center"></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;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>Note 1. General</b></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"><b> </b></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"><b><i>Overview</i></b></div> <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" 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" align="justify">Vringo, Inc. (“Vringo” or the “Company”) is engaged in the innovation, development and monetization of intellectual property, as well as the commercialization and distribution of wire-free power and rugged computing devices. The Company has three operating segments:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3%; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="3%"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"> </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3%; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="3%"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">•</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 94%; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="94%"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Intellectual Property</font></div> </td> </tr> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"> </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"> </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> </td> </tr> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"> </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">•</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Fli Charge</font></div> </td> </tr> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"> </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"> </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> </td> </tr> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"> </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">•</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Group Mobile</font></div> </td> </tr> </table> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt 0.25in; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">The Company was incorporated in Delaware on January 9, 2006 and completed an initial public offering in June 2010. On July 19, 2012, Vringo closed a merger with Innovate/Protect, Inc. On August 9, 2012, the Company acquired a patent portfolio from Nokia, comprised of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 124</font> patent families with counterparts in certain jurisdictions worldwide, for $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">22,000</font>. Under the terms of the purchase agreement, to the extent that the gross revenue as defined by the agreement exceeds $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">22,000</font>, the Company is obligated to pay a royalty of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 35</font>% of such excess.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">On October 15, 2015, the Company acquired <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 100</font>% of International Development Group Limited (“IDG”), a holding company consisting of two subsidiaries, Fli Charge and Group Mobile. IDG owned <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 70</font>% of Fli Charge and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 100</font>% of Group Mobile. The acquisition was a stock purchase whereby Vringo acquired its entire interest in IDG in exchange for shares in Vringo. The total value of the consideration was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">5,571</font>. On December 28, 2015, Vringo acquired the remaining <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 30</font>% of Fli Charge from third party shareholders in exchange for shares in Vringo.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">Fli Charge owns a patented conductive wire-free charging technology and is focused on the development and commercialization of its technology through the direct-to-consumer sale of enablements, as well as partnerships and licensing agreements in various industries. Fli Charge is currently working with partners that are interested in implementing Fli Charge technology for smart furniture, Original Equipment Manufacturers “OEM” and after-market automobiles, and vaporizers. Fli Charge’s business model is to license its technology in exchange for recurring licensing revenue as well as to manufacture and commercialize its own conductive charging pads and associated cases for phones, tablets and laptops.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">Group Mobile is a full-service reseller of rugged computers, rugged tablets, rugged mobile devices, accessories and other related products geared toward emergency first responders, municipalities and corporations. In addition, Group Mobile specializes in high-quality customer support for those products.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">Prior to December 31, 2013, Vringo operated a global platform for the distribution of mobile social applications and services. On February 18, 2014, the Company sold its mobile social application business to InfoMedia Services Limited (“InfoMedia”), receiving an <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 8.25</font>% ownership interest in InfoMedia as consideration and a seat on the board of directors of InfoMedia. As part of the transaction, the Company has the opportunity to license certain intellectual property assets and work with InfoMedia to identify and protect new intellectual property.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">Each of the Company’s operating segments are described below.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><b><font style="COLOR: #181818; FONT-SIZE: 10pt"> Fli Charge</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><i><font style="FONT-SIZE: 10pt">  </font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">Fli Charge is a wire-free power company dedicated to making it easier for people to power and charge the multitude of mobile electronic devices they use on a daily basis. By eliminating the need to search and compete for outlets and charging cables, Fli Charge is improving the powering and charging experience for all battery and DC powered devices.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">Fli Charge designs, develops, licenses, manufactures and markets wire-free conductive power and charging solutions. Fli Charge is currently working with partners in several verticals to bring products to market. These verticals include education, office, hospitality, automotive and consumer electronics among others. To date, Fli Charge has not yet generated any substantial revenue from its products. The Company believes that Fli Charge’s patented technology is the only wire-free power solution that is fully interoperable between different mobile devices ranging from smartphones to power tools, and many more. Fli Charge’s wire-free power solution can simultaneously power multiple devices on the same pad no matter their power requirements or positions on the pad.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">The Fli Charge ecosystem consists of power pads or surfaces as well as devices that are connected to or embedded with Fli Charge enabling technology. Fli Charge pads and surfaces are connected to a power source or battery. The surface of the pad has conductive contact strips that provide power and are constantly monitored by control circuitry that immediately halts power transfer if an unapproved load or short-circuit condition is detected. Fli Charge-enabled devices are embedded with the Fli Charge contact enablement that consists of four contact points, known as the Fli Charge “constellation.” The constellation is designed to make an immediate and continuous electrical connection with the contact strips regardless of the device’s orientation on the pad. The enablement monitors the power coming from the pad and ensures that the correct amount of power goes to the device. Once an approved Fli Charge device is placed on a pad, power is transferred immediately to charge or power the device.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; BACKGROUND: transparent; size: 8.5in 11.0in"> <b><font style="FONT-SIZE: 10pt">Group Mobile</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; BACKGROUND: transparent; size: 8.5in 11.0in"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; BACKGROUND: transparent; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">Group Mobile is a provider of rugged, mobile and field-use computing products, serving customers worldwide. Group Mobile provides total hardware solutions, including rugged laptops, tablets, and handheld computers. Group Mobile also markets rugged mobile printers, vehicle computer docking and mounting gear, power accessories, wireless communication products, antennas, carrying cases, and other peripherals, accessories, and add-ons needed to maximize productivity in a mobile- or field-computing environment. Group Mobile operates a full-service e-commerce website with live chat, up-to-date product information, and computer system configuration capabilities. Group Mobile’s goal is to ensure that its customers purchase the best product for their specific requirements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; BACKGROUND: transparent; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">Group Mobile purchases rugged mobile computing equipment and complementary products from its primary distribution and manufacturing partners and sells them to enterprise, reseller, and retail customers. Group Mobile’s primary customers range from corporations to local governments, emergency first responders and healthcare organizations. Group Mobile believes that its business is characterized by gross profits as a percentage of revenue slightly higher than is commonly found in resellers of computing devices. The market for rugged mobile computing products is trending towards an increase in the volume of unit sales combined with declining unit prices as the business transitions from primarily being comprised of laptops to one primarily comprised of rugged tablets. As this transition has occurred, Group Mobile is seeing shortened product life cycles and industry specific devices for segments such as healthcare. Group Mobile sets sale prices based on the market supply and demand characteristics for each particular product. Group Mobile is highly dependent on the end-market demand for rugged mobile computing products, which is influenced by many factors including the introduction of new IT products by OEM, replacement cycles for existing rugged mobile computing products, overall economic growth, local and state budgets, and general business activity.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">Product costs represent the single largest expense and product inventory is one of the largest working capital investments for Group Mobile. Group Mobile’s primary suppliers include Synnex Corporation, Ingram Micro Inc., Xplore Technologies Corporation, Flextronics International Ltd. and Trimble Navigation Ltd., which combined represent approximately <font style="BACKGROUND-COLOR: transparent">80%</font> of Group Mobile’s inventory purchases. Group Mobile has reseller agreements with most of its OEM and distribution partners. These agreements usually provide for nonexclusive resale and distribution rights. The agreements are generally short-term, subject to periodic renewal, and often contain provisions permitting termination by either Group Mobile or their supplier without cause upon relatively short notice. Furthermore, product procurement from the OEM suppliers is a highly complex process and, as such, efficient and effective purchasing operations are critical to Group Mobile’s success.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><b><font style="FONT-SIZE: 10pt">Intellectual Property</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">Vringo’s Intellectual Property operating segment is engaged in the innovation, development and monetization of intellectual property. The Company’s portfolio consists of over 600 patents and patent applications covering telecom infrastructure, internet search, ad-insertion and mobile technologies.</font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" 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" align="justify">Vringo is currently focused on monetizing its technology portfolio through a variety of value enhancing initiatives, including, but not limited to licensing, litigation and strategic partnerships.</div>  <font style="FONT-SIZE: 10pt"> </font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><b><font style="COLOR: #181818; FONT-SIZE: 10pt"> <u>Recent Developments</u></font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="COLOR: #181818; FONT-SIZE: 10pt"> </font> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <i>Senior Secured Convertible Notes</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><font style="FONT-SIZE: 10pt">On March 9, 2016, the Company and the holders (the “Investors”) of the Company’s $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">12,500</font> Senior Convertible Notes (the “Notes”), which were originally issued by the Company in a registered direct offering on May 4, 2015, entered into an exchange note agreement (the “Exchange Note Agreement”). Pursuant to the Exchange Note Agreement, the Company issued to the Investors an aggregate of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 703,644</font> shares of its common stock, par value $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.01</font> per share, in exchange for the reduction of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,267</font> of the outstanding aggregate principal amount of the Notes and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">49</font> of accrued interest. As a result, the outstanding aggregate principal amount under the Notes was reduced from $3,016 to $1,749 as of March 9, 2016.</font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" 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" align="justify">In addition, on March 9, 2016, the Company, with the consent of each of the Investors, agreed to amend the Notes. Pursuant to the Amended and Restated Senior Secured Notes (the “Amended Notes”) and the Indenture dated May 4, 2015, as supplemented by a First Supplemental Indenture dated May 4, 2015 and further supplemented by a Second Supplemental Indenture (the “Second Supplemental Indenture”) dated March 9, 2016: (i) the Amended Notes are no longer convertible into shares of the Company’s common stock and will be payable by the Company on the Maturity Date (as defined below) in cash only, (ii) the Maturity Date of the Amended Notes will extend to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">June 30, 2017</font> (the “Maturity Date”), (iii) the Company will discontinue the payment of principal prior to the Maturity Date (subject to certain exceptions), (iv) the interest rate increased from <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8</font>% to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10</font>% per annum and will accrue on the outstanding aggregate principal amount of the Amended Notes, payable monthly, and (v) the Company will pay to the Investors on the Maturity Date <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 102</font>% of the outstanding aggregate principal amount of the Amended Notes. The Company also agreed to maintain a cash balance (including cash equivalents) of not less than $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,900</font>.</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"> </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">In addition, the Company agreed to reduce the exercise price of the warrants to purchase an aggregate of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 537,500</font> shares of the Company’s common stock granted as part of the initial agreement (the “May 2015 Warrants”) from $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10.00</font> to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">3.00</font> per share and the parties also agreed to remove from the May 2015 Warrants certain anti-dilution features. Other terms of the May 2015 Warrants remained the same. Furthermore, in connection with the Amended Notes, the Company paid a restructuring fee of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50</font> to the Investors.</div> <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;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: #181818" align="justify"><font style="COLOR: #181818"><i>Shareholder Rights Plan</i></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: #181818" align="justify"><i> </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 March 18, 2016, the Company announced that the Company’s Board of Directors adopted a shareholder rights plan in the form of a Section 382 Rights Agreement designed to preserve the Company’s tax assets. As a part of the plan, the Company’s Board of Directors declared a dividend of one preferred-share-purchase right for each share of the Company’s common stock outstanding as of March 29, 2016. Effective on March 18, 2016, if any group or person acquires 4.99% or more of the Company’s outstanding shares of common stock, or <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">if a group or person that already owns 4.99% or more of the Company’s common stock acquires additional shares representing 0.5% or more of the Company’s common stock, then, subject to certain exceptions, there would be a triggering event under the plan. The rights would then separate from the Company’s common stock and would be adjusted to become exercisable to purchase shares of the Company’s common stock having a market value equal to twice the purchase price of $9.50, resulting in significant dilution in the ownership interest of the acquiring person or group.</font> The Company’s Board of Directors has the discretion to exempt any acquisition of the Company’s common stock from the provisions of the plan and has the ability to terminate the plan prior to a triggering event. In connection with this plan, the Company filed a Certificate of Designation of Series C Junior Preferred Stock with the Secretary of State of the State of Delaware on March 18, 2016.</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"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: #181818" align="justify"><i>Reverse Stock Split</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"> </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 November 27, 2015, the Company implemented a one-for-ten reverse split of its issued and outstanding shares of common stock (the "Reverse Stock Split"), as authorized at a special meeting of the Company’s stockholders held on November 16, 2015. The Reverse Stock Split became effective at the opening of trading on NASDAQ on November 27, 2015. As of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> November 27, 2015, every 10 shares of the Company’s issued and outstanding common stock were combined into one share of its common stock, except to the extent that the Reverse Stock Split resulted in any of the Company’s stockholders owning a fractional share, which was rounded up to the next highest whole share. In connection with the Reverse Stock Split, there was no change in the nominal par value per share of $0.01.</font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; size: 8.5in 11.0in" align="justify"><b><i><font style="FONT-SIZE: 10pt">Financial condition</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; size: 8.5in 11.0in" 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; size: 8.5in 11.0in" align="justify">As of March 31, 2016, the Company had a cash balance of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">20,560</font>, accounts receivable of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,060</font>, and deposits with courts of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">831</font>. In February 2016, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,173</font> of deposits with courts and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">192</font> of court fees were returned back to the Company.</div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

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XWELL Inc Stock $xwel

2016 Q1 Form 10-Q Financial Statement

#000114420416099238 Filed on May 05, 2016

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$XWEL XWELL Inc Stock $xwel

2016 Q1 Form 10-Q Financial Statement

#000114420416099238 Filed on May 05, 2016

Income Statement

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$XWEL
XWELL Inc Stock $xwel