$YHGJ
YUNHONG GREEN CTI LTD.

2019 Q1 Form 10-Q Financial Statement

#000143774919010522 Filed on May 21, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018 Q1
Revenue $8.680M $9.330M $13.98M
YoY Change -37.91% -37.13% -8.99%
Cost Of Revenue $6.723M $7.790M $11.11M
YoY Change -39.49% -29.25% -5.38%
Gross Profit $1.957M $1.540M $2.868M
YoY Change -31.77% -59.79% -20.71%
Gross Profit Margin 22.55% 16.51% 20.52%
Selling, General & Admin $1.478M $2.340M $2.743M
YoY Change -46.11% -28.22% 4.57%
% of Gross Profit 75.52% 151.95% 95.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $308.1K $280.0K $376.9K
YoY Change -18.26% -28.21% -1.29%
% of Gross Profit 15.74% 18.18% 13.14%
Operating Expenses $2.866M $2.330M $3.015M
YoY Change -4.93% -28.31% -3.05%
Operating Profit -$909.5K -$790.0K -$146.7K
YoY Change 520.14% -236.21% -128.89%
Interest Expense $564.2K -$550.0K $564.1K
YoY Change 0.02% 3.77% 49.53%
% of Operating Profit
Other Income/Expense, Net -$873.0K -$533.4K
YoY Change 63.67% 38.98%
Pretax Income -$1.782M -$1.540M -$680.0K
YoY Change 162.11% -2300.0% -648.82%
Income Tax $1.100M -$209.5K
% Of Pretax Income
Net Earnings -$2.494M -$2.810M -$463.0K
YoY Change 438.67% 226.74% -891.89%
Net Earnings / Revenue -28.73% -30.12% -3.31%
Basic Earnings Per Share -$0.67 -$0.13
Diluted Earnings Per Share -$0.67 -$745.4K -$0.13
COMMON SHARES
Basic Shares Outstanding 3.736M 3.530M
Diluted Shares Outstanding 3.736M 3.530M

Balance Sheet

Concept 2019 Q1 2018 Q4 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $180.0K $430.0K $600.0K
YoY Change -70.0% 138.89% 3.45%
Cash & Equivalents $175.4K $258.2K $595.6K
Short-Term Investments
Other Short-Term Assets $1.419M $784.1K $1.191M
YoY Change 19.21% -30.04% -6.25%
Inventory $20.84M $17.39M $21.36M
Prepaid Expenses $646.2K $834.7K $777.3K
Receivables $10.60M $10.25M $11.98M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $33.68M $33.01M $35.90M
YoY Change -6.18% 2.23% 11.14%
LONG-TERM ASSETS
Property, Plant & Equipment $3.597M $3.721M $4.201M
YoY Change -14.38% -18.34% -19.67%
Goodwill $1.473M $1.473M $1.473M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $26.09K $326.8K $583.9K
YoY Change -95.53% -41.67% -71.09%
Total Long-Term Assets $7.702M $5.750M $7.631M
YoY Change 0.93% -25.25% -0.69%
TOTAL ASSETS
Total Short-Term Assets $33.68M $33.01M $35.90M
Total Long-Term Assets $7.702M $5.750M $7.631M
Total Assets $41.38M $38.76M $43.53M
YoY Change -4.93% -3.06% 8.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.680M $5.952M $7.196M
YoY Change 20.62% 9.93% 18.16%
Accrued Expenses $2.082M $1.787M $2.436M
YoY Change -14.51% -12.75% -0.18%
Deferred Revenue
YoY Change
Short-Term Debt $15.35M $16.58M $15.93M
YoY Change -3.64% 20.32% 67.86%
Long-Term Debt Due $4.430M $4.440M $5.350M
YoY Change -17.2% 362.5% -19.91%
Total Short-Term Liabilities $32.21M $30.21M $30.92M
YoY Change 4.17% 33.31% 20.09%
LONG-TERM LIABILITIES
Long-Term Debt $2.995M $2.296M $2.157M
YoY Change 38.85% -66.62% 13.54%
Other Long-Term Liabilities $1.250M $100.3K $200.0K
YoY Change 525.0% -52.22% -81.82%
Total Long-Term Liabilities $2.995M $2.296M $2.157M
YoY Change 38.85% -66.62% -28.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.21M $30.21M $30.92M
Total Long-Term Liabilities $2.995M $2.296M $2.157M
Total Liabilities $35.21M $32.51M $33.08M
YoY Change 6.43% 10.04% 18.14%
SHAREHOLDERS EQUITY
Retained Earnings -$3.746M -$2.865M $238.9K
YoY Change -1668.16% -497.86%
Common Stock $17.03M $16.40M $16.23M
YoY Change 4.94% 1.45%
Preferred Stock
YoY Change
Treasury Stock (at cost) $160.8K $160.8K $160.8K
YoY Change 0.0% 0.0%
Treasury Stock Shares $43.66K $43.66K $43.66K
Shareholders Equity $7.313M $7.328M $11.38M
YoY Change
Total Liabilities & Shareholders Equity $41.38M $38.76M $43.53M
YoY Change -4.93% -3.06% 6.02%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018 Q1
OPERATING ACTIVITIES
Net Income -$2.494M -$2.810M -$463.0K
YoY Change 438.67% 226.74% -891.89%
Depreciation, Depletion And Amortization $308.1K $280.0K $376.9K
YoY Change -18.26% -28.21% -1.29%
Cash From Operating Activities $665.1K -$1.180M -$961.3K
YoY Change -169.18% -70.28% -131.18%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K -$140.0K
YoY Change 1300.0%
Acquisitions
YoY Change
Other Investing Activities $60.00K
YoY Change
Cash From Investing Activities -$52.24K -$140.0K $63.53K
YoY Change -182.23% 1300.0% -128.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $28.97K $61.98K
YoY Change -53.26%
Debt Paid & Issued, Net $213.5K $432.9K
YoY Change -50.68% 10.79%
Cash From Financing Activities -807.7K 2.070M 1.285M
YoY Change -162.86% -56.14% -144.99%
NET CHANGE
Cash From Operating Activities 665.1K -1.180M -961.3K
Cash From Investing Activities -52.24K -140.0K 63.53K
Cash From Financing Activities -807.7K 2.070M 1.285M
Net Change In Cash -252.7K 750.0K 387.3K
YoY Change -165.25% 1.35% 5507.76%
FREE CASH FLOW
Cash From Operating Activities $665.1K -$1.180M -$961.3K
Capital Expenditures -$50.00K -$140.0K
Free Cash Flow $715.1K -$1.040M
YoY Change -73.74%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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NetIncomeLossAttributableToNoncontrollingInterest
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CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2019Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
11869
CY2018Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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25387
CY2019Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2018Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2019Q1 us-gaap Notes Payable Current
NotesPayableCurrent
4414581
CY2018Q4 us-gaap Notes Payable Current
NotesPayableCurrent
4432320
CY2019Q1 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
1012024
CY2018Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
1597019
CY2019Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
2743971
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
3015049
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-747800
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-146658
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
249000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2111000
CY2019Q1 us-gaap Operating Lease Liability Current
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1016687
CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
0
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1094036
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2110723
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2019Q1 us-gaap Other Assets Current
OtherAssetsCurrent
1419371
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
886383
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
26088
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
326849
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
235876
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
235876
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
433065
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
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CY2019Q1 us-gaap Other Inventory In Transit
OtherInventoryInTransit
451588
CY2018Q4 us-gaap Other Inventory In Transit
OtherInventoryInTransit
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CY2019Q1 us-gaap Payments For Proceeds From Productive Assets
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CY2018Q1 us-gaap Payments For Proceeds From Productive Assets
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CY2019Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2018Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q1 us-gaap Prepaid Expense Current
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646164
CY2018Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
858158
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
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28967
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
61975
CY2019Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
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18504
CY2018Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-442992
CY2019Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-1235126
CY2018Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
2123582
CY2019Q1 us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
771113
CY2018Q1 us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
-432942
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-942808
CY2018Q1 us-gaap Profit Loss
ProfitLoss
-470551
CY2019Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32024648
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
31935436
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3596919
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3814981
CY2019Q1 us-gaap Provision For Doubtful Accounts
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6085
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-17781
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
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-3745907
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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12536389
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
13979177
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.95
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.95
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2018Q4 us-gaap Share Price
SharePrice
3.32
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2019Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
600000
CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
7312736
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
7328314
CY2019Q1 us-gaap Selling Expense
SellingExpense
437565
CY2018Q1 us-gaap Selling Expense
SellingExpense
858537
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
165264
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.05
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
78000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
471144
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
471144
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6177764
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6255729
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
43658
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
43658
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
160784
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
160784
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Use of estimates:</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In preparing condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amount of revenue and expenses during the reporting period in the condensed consolidated financial statements and accompanying notes. Actual results <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>differ from those estimates. The Company&#x2019;s significant estimates include reserves for doubtful accounts, reserves for the lower of cost or market of inventory, reserves for deferred tax assets and recovery value of goodwill.</div></div></div>
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3735950
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3530227
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3735950
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3530227

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