2016 Q2 Form 10-Q Financial Statement

#000114420416117680 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q4 2015 Q2
Revenue $2.828M $2.931M $2.307M
YoY Change 22.57% 321678.38% 14216.45%
Cost Of Revenue $2.969M $2.920M $2.600M
YoY Change 14.16% 19636.23%
Gross Profit -$140.9K $10.80K -$293.5K
YoY Change -51.99% -1439.33% -10089.55%
Gross Profit Margin -4.98% 0.37% -12.72%
Selling, General & Admin $1.973M $2.010M $1.588M
YoY Change 24.25% -61.12% 15.16%
% of Gross Profit 18619.73%
Research & Development $509.9K $650.0K $283.6K
YoY Change 79.81% 71.05% 7.7%
% of Gross Profit 6021.31%
Depreciation & Amortization $81.07K $200.0K $78.63K
YoY Change 3.1% 33.33% 5.29%
% of Gross Profit 1852.71%
Operating Expenses $2.690M $2.840M $2.060M
YoY Change 30.59% -50.35% 0.91%
Operating Profit -$2.831M -$2.830M -$2.347M
YoY Change 20.63% -50.5% 15.14%
Interest Expense $9.322K -$20.00K $13.75K
YoY Change -32.22% -115.38% 677.44%
% of Operating Profit
Other Income/Expense, Net -$71.52K $0.00 $1.065M
YoY Change -106.72% 1371.44%
Pretax Income -$2.902M -$2.860M -$1.289M
YoY Change 125.22% -48.84% -34.58%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.902M -$2.865M -$1.289M
YoY Change 125.22% -48.75% -34.44%
Net Earnings / Revenue -102.64% -97.73% -55.86%
Basic Earnings Per Share
Diluted Earnings Per Share -$38.15K -$40.34K -$19.36K
COMMON SHARES
Basic Shares Outstanding 76.02M shares 70.97M shares 66.62M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q4 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.840M $3.760M $8.200M
YoY Change -65.37% -41.25% 96.64%
Cash & Equivalents $3.760M $8.197M
Short-Term Investments
Other Short-Term Assets $720.0K $710.0K $460.0K
YoY Change 56.52% -67.58% 84.0%
Inventory $3.147M $2.706M $2.382M
Prepaid Expenses
Receivables $105.7K $51.23K $449.5K
Other Receivables $0.00 $0.00 $600.0K
Total Short-Term Assets $6.811M $7.228M $12.13M
YoY Change -43.85% -32.49% 95.09%
LONG-TERM ASSETS
Property, Plant & Equipment $2.415M $2.556M $2.716M
YoY Change -11.09% -10.34% -7.94%
Goodwill
YoY Change
Intangibles $7.385M $7.364M $7.206M
YoY Change 2.49% 4.05%
Long-Term Investments $1.081M $1.223M $1.230M
YoY Change -12.15% -7.37% 392.0%
Other Assets
YoY Change
Total Long-Term Assets $10.88M $11.07M $11.15M
YoY Change -2.4% -1.58% 438.35%
TOTAL ASSETS
Total Short-Term Assets $6.811M $7.228M $12.13M
Total Long-Term Assets $10.88M $11.07M $11.15M
Total Assets $17.69M $18.30M $23.28M
YoY Change -24.0% -16.66% 107.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.567M $1.283M $984.7K
YoY Change 59.18% 45.11% 34.89%
Accrued Expenses $1.191M $1.349M $1.149M
YoY Change 3.7% 24.77% 74.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $170.0K
YoY Change -100.0% -100.0% 0.0%
Long-Term Debt Due $320.0K $310.0K $330.0K
YoY Change -3.03% -3.13%
Total Short-Term Liabilities $3.305M $3.162M $2.927M
YoY Change 12.9% 18.28% 87.46%
LONG-TERM LIABILITIES
Long-Term Debt $310.0K $310.0K $610.0K
YoY Change -49.18% -49.18%
Other Long-Term Liabilities $120.0K $3.100M $3.180M
YoY Change -96.23% -10.4% 478.18%
Total Long-Term Liabilities $430.0K $3.410M $3.790M
YoY Change -88.65% -16.22% 589.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.305M $3.162M $2.927M
Total Long-Term Liabilities $430.0K $3.410M $3.790M
Total Liabilities $3.729M $6.568M $6.710M
YoY Change -44.42% -2.46% 217.91%
SHAREHOLDERS EQUITY
Retained Earnings -$72.71M -$66.56M -$60.93M
YoY Change 19.34% 19.87% 29.06%
Common Stock $760.00 $710.00 $708.00
YoY Change 7.34% 10.76% 19.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.96M $11.73M $16.57M
YoY Change
Total Liabilities & Shareholders Equity $17.69M $18.30M $23.28M
YoY Change -24.0% -16.66% 107.09%

Cashflow Statement

Concept 2016 Q2 2015 Q4 2015 Q2
OPERATING ACTIVITIES
Net Income -$2.902M -$2.865M -$1.289M
YoY Change 125.22% -48.75% -34.44%
Depreciation, Depletion And Amortization $81.07K $200.0K $78.63K
YoY Change 3.1% 33.33% 5.29%
Cash From Operating Activities -$3.090M -$2.460M -$1.080M
YoY Change 186.11% -11.51% -2.7%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$110.0K -$140.0K
YoY Change -28.57% -59.26% 180.0%
Acquisitions
YoY Change
Other Investing Activities -$20.00K $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$120.0K -$110.0K -$140.0K
YoY Change -14.29% -86.75% -64.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -410.0K 5.570M
YoY Change -100.0% 1756.67%
NET CHANGE
Cash From Operating Activities -3.090M -2.460M -1.080M
Cash From Investing Activities -120.0K -110.0K -140.0K
Cash From Financing Activities 0.000 -410.0K 5.570M
Net Change In Cash -3.210M -2.980M 4.350M
YoY Change -173.79% -17.45% -462.5%
FREE CASH FLOW
Cash From Operating Activities -$3.090M -$2.460M -$1.080M
Capital Expenditures -$100.0K -$110.0K -$140.0K
Free Cash Flow -$2.990M -$2.350M -$940.0K
YoY Change 218.09% -6.37% -11.32%

Facts In Submission

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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 34.1pt; MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 37.4pt; MARGIN: 0in 0in 0pt"> <strong><i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Reclassifications</font></i></strong><i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">-</font></i> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Certain items in the 2015 financial statements have been reclassified to conform to the 2016 classification.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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