10-Q Filing

NANO MAGIC INC. CIK: 891417 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001019687-12-001545`
Period End Date	20120331
Filing Date	20120501
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	apnt-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 32 Cash Flow Statement 38

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.07M	USD	Point-in-time
Accounts receivable, trade net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$839.86K	USD	Point-in-time
Accounts receivable, trade net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$550.99K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$153.02K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$117.97K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.06M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$352.99K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$303.06K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	160.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	160.00M	shares	Point-in-time
Other assets	`OtherAssets`	$28.59K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	119.14M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	118.92M	shares	Point-in-time
Other assets	`OtherAssets`	$28.75K	USD	Point-in-time
Total assets	`Assets`	$4.40M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	119.14M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	118.92M	shares	Point-in-time
Total assets	`Assets`	$3.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$324.33K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$486.77K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	$1.54M	USD	Point-in-time
Obligations under capital lease	`CapitalLeaseObligationsCurrent`	$56.08K	USD	Point-in-time
Obligations under capital lease	`CapitalLeaseObligationsCurrent`	$40.70K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$421.37K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$379.68K	USD	Point-in-time
Deposits and deferred revenue	`DeferredRevenueCurrent`	$200.00K	USD	Point-in-time
Deposits and deferred revenue	`DeferredRevenueCurrent`	$200.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$944.71K	USD	Point-in-time
Obligations under capital lease, long-term	`CapitalLeaseObligationsNoncurrent`	$48.56K	USD	Point-in-time
Obligations under capital lease, long-term	`CapitalLeaseObligationsNoncurrent`	$52.65K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayable`	$1.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.76M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $1.00 par value, 2,000,000 shares authorized; No shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1.00 par value, 2,000,000 shares authorized; No shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.00l par value, 160,000,000 shares authorized, 119,137,919 and 118,915,698 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$119.14K	USD	Point-in-time
Common stock, $.00l par value, 160,000,000 shares authorized, 119,137,919 and 118,915,698 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$118.92K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$114.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$114.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-112.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-114.46M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.92M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$465.82K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.40M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Government contracts	`ContractsRevenue`	$1.25M	USD	1 Quarter
Government contracts	`ContractsRevenue`	$416.17K	USD	1 Quarter
Contract research	`ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned`	$67.21K	USD	1 Quarter
Contract research	`ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned`	$548.79K	USD	1 Quarter
License fees and royalties	`LicensesRevenue`	$1.14K	USD	1 Quarter
License fees and royalties	`LicensesRevenue`	$177.30K	USD	1 Quarter
Other	`OtherOperatingIncome`	$116.46K	USD	1 Quarter
Other	`OtherOperatingIncome`	$135.96K	USD	1 Quarter
Total revenues	`Revenues`	$777.14K	USD	1 Quarter
Total revenues	`Revenues`	$1.94M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.60M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.35M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$942.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$817.55K	USD	1 Quarter
Operating costs and expenses	`OperatingCostsAndExpenses`	$2.42M	USD	1 Quarter
Operating costs and expenses	`OperatingCostsAndExpenses`	$2.30M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.52M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-482.31K	USD	1 Quarter
Interest expense	`InterestExpense`	$132.43K	USD	1 Quarter
Interest expense	`InterestExpense`	$89.91K	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$942.00	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$846.00	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.61M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-613.80K	USD	1 Quarter
Provision for taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-613.80K	USD	1 Quarter
Basic and Diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and Diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	119.06M	shares	1 Quarter
Basic and Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	110.76M	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-613.80K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$-14.88K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$-26.12K	USD	1 Quarter
Amortization of discount on debt	`AmortizationOfFinancingCostsAndDiscounts`	$-54.27K	USD	1 Quarter
Amortization of discount on debt	`AmortizationOfFinancingCostsAndDiscounts`	$-93.21K	USD	1 Quarter
Stock based compensation expense	`ShareBasedGoodsAndNonemployeeServicesTransactionCashFlowEffects`	$-96.33K	USD	1 Quarter
Stock based compensation expense	`ShareBasedGoodsAndNonemployeeServicesTransactionCashFlowEffects`	$-196.36K	USD	1 Quarter
Accounts receivable, trade	`IncreaseDecreaseInAccountsReceivable`	$-344.67K	USD	1 Quarter
Accounts receivable, trade	`IncreaseDecreaseInAccountsReceivable`	$288.87K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$35.20K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-61.71K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-264.13K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$169.62K	USD	1 Quarter
Deposits and deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-206.91K	USD	1 Quarter
Total adjustments	`IncreaseDecreaseInOperatingAssets`	$-64.63K	USD	1 Quarter
Total adjustments	`IncreaseDecreaseInOperatingAssets`	$764.93K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$678.43K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$842.26K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.51K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$47.49K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.51K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-47.49K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.53M	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$5.93K	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$9.09K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.09K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.52M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.83M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-898.85K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.57M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.57M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.07M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.