10-Q Filing

REED'S, INC. CIK: 1140215 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001019687-12-001734`
Period End Date	20120331
Filing Date	20120514
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	reed-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 30 Cash Flow Statement 56 Stockholders Equity 10

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts and returns and discounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$135.00K	USD	Point-in-time
Allowance for Doubtful Accounts and returns and discounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$135.00K	USD	Point-in-time
Cash	`Cash`	$101.00K	USD	Point-in-time
Accumulated Depreciation (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.74M	USD	Point-in-time
Cash	`Cash`	$713.00K	USD	Point-in-time
Accumulated Depreciation (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.89M	USD	Point-in-time
Cash	`Cash`	$1.08M	USD	Point-in-time
Cash	`Cash`	$1.02M	USD	Point-in-time
Inventory	`InventoryNet`	$6.10M	USD	Point-in-time
Inventory	`InventoryNet`	$6.21M	USD	Point-in-time
Accumulated Amortization, deferred financing fees (in Dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$69.00K	USD	Point-in-time
Accumulated Amortization, deferred financing fees (in Dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$50.00K	USD	Point-in-time
Discount, long term financing obligation (in Dollars)	`DebtInstrumentUnamortizedDiscountPremiumNet`	$614.00K	USD	Point-in-time
Discount, long term financing obligation (in Dollars)	`DebtInstrumentUnamortizedDiscountPremiumNet`	$626.00K	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts and returns and discounts of $135,000 and $135,000, respectively	`AccountsReceivableNetCurrent`	$2.09M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts and returns and discounts of $135,000 and $135,000, respectively	`AccountsReceivableNetCurrent`	$1.63M	USD	Point-in-time
Prepaid inventory	`OtherInventory`	$168.00K	USD	Point-in-time
Prepaid inventory	`OtherInventory`	$238.00K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssets`	$123.00K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssets`	$150.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.79M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.73M	USD	Point-in-time
(in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $1,891,000 and $1,739,000, respectively	`PropertyPlantAndEquipmentNet`	$3.51M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $1,891,000 and $1,739,000, respectively	`PropertyPlantAndEquipmentNet`	$3.47M	USD	Point-in-time
(in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Brand names	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.03M	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Brand names	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.03M	USD	Point-in-time
Deferred financing fees, net of amortization of $69,000 and $50,000, respectively	`DeferredFinanceCostsNoncurrentNet`	$67.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	19.50M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	19.50M	shares	Point-in-time
Deferred financing fees, net of amortization of $69,000 and $50,000, respectively	`DeferredFinanceCostsNoncurrentNet`	$85.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.89M	shares	Point-in-time
Total assets	`Assets`	$13.36M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.96M	shares	Point-in-time
Total assets	`Assets`	$13.36M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.89M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.96M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.31M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$200.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$196.00K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$84.00K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$83.00K	USD	Point-in-time
Recycling fees payable	`AccountsPayableOtherCurrent`	$111.00K	USD	Point-in-time
Recycling fees payable	`AccountsPayableOtherCurrent`	$84.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.10M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.02M	USD	Point-in-time
Current portion of long term financing obligation	`LongTermDebtCurrent`	$71.00K	USD	Point-in-time
Current portion of long term financing obligation	`LongTermDebtCurrent`	$76.00K	USD	Point-in-time
Current portion of capital leases payable	`CapitalLeaseObligationsCurrent`	$58.00K	USD	Point-in-time
Current portion of capital leases payable	`CapitalLeaseObligationsCurrent`	$56.00K	USD	Point-in-time
Current portion of term loan	`NotesPayableCurrent`	$152.00K	USD	Point-in-time
Current portion of term loan	`NotesPayableCurrent`	$157.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.22M	USD	Point-in-time
Long term financing obligation, less current portion, net of discount of $614,000 and $626,000, respectively	`LongTermDebtNoncurrent`	$2.25M	USD	Point-in-time
Long term financing obligation, less current portion, net of discount of $614,000 and $626,000, respectively	`LongTermDebtNoncurrent`	$2.24M	USD	Point-in-time
Capital leases payable, less current portion	`CapitalLeaseObligationsNoncurrent`	$153.00K	USD	Point-in-time
Capital leases payable, less current portion	`CapitalLeaseObligationsNoncurrent`	$137.00K	USD	Point-in-time
Term loan, less current portion	`LongTermNotesPayable`	$535.00K	USD	Point-in-time
Term loan, less current portion	`LongTermNotesPayable`	$576.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$9.13M	USD	Point-in-time
Total Liabilities	`Liabilities`	$9.05M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.0001 par value, 19,500,000 shares authorized, 10,960,088 and 10,885,797 shares issued and outstanding, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $.0001 par value, 19,500,000 shares authorized, 10,960,088 and 10,885,797 shares issued and outstanding, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$22.92M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$23.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.02M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.22M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.30M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$13.36M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$13.36M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$5.14M	USD	1 Quarter
Sales	`SalesRevenueNet`	$6.54M	USD	1 Quarter
Cost of tangible goods sold	`CostOfGoodsAndServicesSold`	$4.18M	USD	1 Quarter
Cost of tangible goods sold	`CostOfGoodsAndServicesSold`	$3.32M	USD	1 Quarter
Cost of goods sold idle capacity	`CostOfGoodsSold`	$402.00K	USD	1 Quarter
Cost of goods sold idle capacity	`CostOfGoodsSold`	$369.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.42M	USD	1 Quarter
Delivery and handling expenses	`ShippingHandlingAndTransportationCosts`	$479.00K	USD	1 Quarter
Delivery and handling expenses	`ShippingHandlingAndTransportationCosts`	$388.00K	USD	1 Quarter
Selling and marketing expense	`SellingAndMarketingExpense`	$580.00K	USD	1 Quarter
Selling and marketing expense	`SellingAndMarketingExpense`	$722.00K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$740.00K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$655.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.94M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.62M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$44.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-206.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$159.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$168.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-365.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-124.00K	USD	1 Quarter
Preferred stock dividend	`PreferredStockDividendsAndOtherAdjustments`	$11.00K	USD	1 Quarter
Preferred stock dividend	`PreferredStockDividendsAndOtherAdjustments`	$9.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-133.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-376.00K	USD	1 Quarter
Loss per share available to common stockholders - basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Loss per share available to common stockholders - basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average number of shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.92M	shares	1 Quarter
Weighted average number of shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.62M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-365.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-124.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$144.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$183.00K	USD	1 Quarter
Fair value of stock options issued to employees	`FairValueOptionChangesInFairValueGainLoss1`	$26.00K	USD	1 Quarter
Fair value of stock options issued to employees	`FairValueOptionChangesInFairValueGainLoss1`	$50.00K	USD	1 Quarter
Fair value of common stock issued for services and bonus	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$42.00K	USD	1 Quarter
Fair value of common stock issued for services and bonus	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$15.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-464.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-273.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$398.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-113.00K	USD	1 Quarter
Prepaid inventory and prepaid other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$21.00K	USD	1 Quarter
Prepaid inventory and prepaid other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-97.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-508.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$233.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$5.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-18.00K	USD	1 Quarter
Recycling fees payable	`IncreaseDecreaseInOtherAccountsPayable`	$-31.00K	USD	1 Quarter
Recycling fees payable	`IncreaseDecreaseInOtherAccountsPayable`	$-27.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-540.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-363.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$110.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$167.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-167.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-110.00K	USD	1 Quarter
Proceeds from issuance of common stock, net of offering costs	`ProceedsFromIssuanceOrSaleOfEquity`	$672.00K	USD	1 Quarter
Proceeds from warrant exercises	`ProceedsFromStockOptionsExercised`	$25.00K	USD	1 Quarter
Principal repayments on long term financing obligation	`RepaymentsOfLongTermDebt`	$11.00K	USD	1 Quarter
Principal repayments on long term financing obligation	`RepaymentsOfLongTermDebt`	$15.00K	USD	1 Quarter
Principal repayments on capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$9.00K	USD	1 Quarter
Principal repayments on capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$14.00K	USD	1 Quarter
Principal repayments on notes payable	`RepaymentsOfNotesPayable`	$27.00K	USD	1 Quarter
Principal repayments on term loan	`RepaymentsOfShortTermDebt`	$36.00K	USD	1 Quarter
Net repayments on lines of credit	`RepaymentsOfLinesOfCredit`	$3.00K	USD	1 Quarter
Net repayments on lines of credit	`RepaymentsOfLinesOfCredit`	$74.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$647.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-139.00K	USD	1 Quarter
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-60.00K	USD	1 Quarter
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-612.00K	USD	1 Quarter
Cash at beginning of period	`Cash`	$101.00K	USD	Point-in-time
Cash at beginning of period	`Cash`	$713.00K	USD	Point-in-time
Cash at beginning of period	`Cash`	$1.08M	USD	Point-in-time
Cash at beginning of period	`Cash`	$1.02M	USD	Point-in-time
Cash at end of period	`Cash`	$101.00K	USD	Point-in-time
Cash at end of period	`Cash`	$713.00K	USD	Point-in-time
Cash at end of period	`Cash`	$1.08M	USD	Point-in-time
Cash at end of period	`Cash`	$1.02M	USD	Point-in-time
Interest	`InterestPaidNet`	$118.00K	USD	1 Quarter
Interest	`InterestPaidNet`	$168.00K	USD	1 Quarter
Series B Preferred stock converted to common stock	`SeriesBPreferredStockConvertedToCommonStock`	$39.00K	USD	1 Quarter
Series B Preferred stock converted to common stock	`SeriesBPreferredStockConvertedToCommonStock`	$81.00K	USD	1 Quarter
Series B Preferred stock dividend payable in common stock	`SeriesBPreferredStockDividendPayableInCommonStock`	$9.00K	USD	1 Quarter
Series B Preferred stock dividend payable in common stock	`SeriesBPreferredStockDividendPayableInCommonStock`	$11.00K	USD	1 Quarter
Common stock issued in settlement of Series B preferred stock dividend	`StockIssuedDuringPeriodValueOther`	$2.00K	USD	1 Quarter
Common stock issued in settlement of Series B preferred stock dividend	`StockIssuedDuringPeriodValueOther`	$8.00K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$4.22M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.30M	USD	Point-in-time
Fair Value of common stock issued for services	`ShareBasedGoodsAndNonemployeeServicesTransactionStockholdersEquity`	$15.00K	USD	1 Quarter
Fair value vesting of options issued to employees	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$26.00K	USD	1 Quarter
Series B preferred stock dividend	`DividendsPreferredStock`	$-9.00K	USD	1 Quarter
Common stock paid for Series B preferred stock dividend	`StockIssuedDuringPeriodValueStockDividend`	$9.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-365.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-124.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$4.22M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.30M	USD	Point-in-time

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