10-Q Filing

TELKONET INC CIK: 1094084 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001019687-12-001923`
Period End Date	20120331
Filing Date	20120521
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	tkoi-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 49 Cash Flow Statement 61 Stockholders Equity 11

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Redeemable preferred stock shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Redeemable preferred stock shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$537.74K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$136.03K	USD	Point-in-time
Redeemable preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$961.09K	USD	Point-in-time
Redeemable preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$203.05K	USD	Point-in-time
Restricted cash on deposit	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$91.00K	USD	Point-in-time
Restricted cash on deposit	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$91.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$842.81K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.31M	USD	Point-in-time
Inventories	`InventoryNet`	$876.01K	USD	Point-in-time
Inventories	`InventoryNet`	$322.21K	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
Prepaid expenses	`PrepaidExpenseCurrent`	$45.36K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$157.66K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.39M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	190.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	190.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.84M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.77K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	104.52M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	104.35M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.95K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	104.52M	shares	Point-in-time
Goodwill	`Goodwill`	$8.57M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	104.35M	shares	Point-in-time
Goodwill	`Goodwill`	$8.57M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.68M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.74M	USD	Point-in-time
Deposits	`DepositsAssets`	$34.24K	USD	Point-in-time
Deposits	`DepositsAssets`	$34.24K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$10.29M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$10.35M	USD	Point-in-time
Total Assets	`Assets`	$13.20M	USD	Point-in-time
Total Assets	`Assets`	$12.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.34M	USD	Point-in-time
Accrued liabilities and expenses	`AccruedLiabilitiesCurrent`	$2.27M	USD	Point-in-time
Accrued liabilities and expenses	`AccruedLiabilitiesCurrent`	$2.18M	USD	Point-in-time
Notes payable current	`NotesPayableCurrent`	$64.16K	USD	Point-in-time
Notes payable current	`NotesPayableCurrent`	$111.41K	USD	Point-in-time
Deferred revenues	`DeferredRevenueNoncurrent`	$38.02K	USD	Point-in-time
Deferred revenues	`DeferredRevenueNoncurrent`	$55.53K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$21.36K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$47.14K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.61M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.76M	USD	Point-in-time
Deferred lease liability	`CapitalLeaseObligationsNoncurrent`	$124.86K	USD	Point-in-time
Deferred lease liability	`CapitalLeaseObligationsNoncurrent`	$118.64K	USD	Point-in-time
Notes payable long term	`LongTermNotesPayable`	$853.79K	USD	Point-in-time
Notes payable long term	`LongTermNotesPayable`	$876.26K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$972.43K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.00M	USD	Point-in-time
15,000,000 shares authorized, par value $.001 per share	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	-	USD	Point-in-time
15,000,000 shares authorized, par value $.001 per share	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	-	USD	Point-in-time
Total redeemable preferred stock	`PreferredStockRedemptionAmountFutureRedeemableSecurities`	$2.37M	USD	Point-in-time
Total redeemable preferred stock	`PreferredStockRedemptionAmountFutureRedeemableSecurities`	$2.56M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $.001 per share; 190,000,000 shares authorized;104,515,075 and 104,349,507 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$104.52K	USD	Point-in-time
Common stock, par value $.001 per share; 190,000,000 shares authorized;104,515,075 and 104,349,507 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$104.35K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$124.33M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$124.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-118.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-119.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.36M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.24M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$12.68M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$13.20M	USD	Point-in-time

Income Statement 49 line items

Line Item	Tag	Value	Unit	Period
Product	`RevenueOtherManufacturedProducts`	$917.93K	USD	1 Quarter
Product	`RevenueOtherManufacturedProducts`	$1.35M	USD	1 Quarter
Recurring	`OtherRecurringIncome`	$1.01M	USD	1 Quarter
Recurring	`OtherRecurringIncome`	$1.13M	USD	1 Quarter
Total Net Revenues	`Revenues`	$1.93M	USD	1 Quarter
Total Net Revenues	`Revenues`	$2.48M	USD	1 Quarter
Product	`CostOfOtherManufacturedProducts`	$708.27K	USD	1 Quarter
Product	`CostOfOtherManufacturedProducts`	$600.81K	USD	1 Quarter
Recurring	`CostOfRevenue`	$263.87K	USD	1 Quarter
Recurring	`CostOfRevenue`	$289.91K	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsSold`	$972.14K	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsSold`	$890.72K	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.51M	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.04M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$230.56K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$208.61K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.13M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.43M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$61.53K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$72.60K	USD	1 Quarter
Total Operating Expense	`OperatingExpenses`	$1.40M	USD	1 Quarter
Total Operating Expense	`OperatingExpenses`	$1.73M	USD	1 Quarter
Income (Loss) from Operations	`OperatingIncomeLoss`	$112.59K	USD	1 Quarter
Income (Loss) from Operations	`OperatingIncomeLoss`	$-697.06K	USD	1 Quarter
Interest expense, net	`FinancingInterestExpense`	$190.23K	USD	1 Quarter
Interest expense, net	`FinancingInterestExpense`	$31.76K	USD	1 Quarter
Gain on derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	$172.48K	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$2.17K	USD	1 Quarter
Gain on sale of product line	`GainLossOnSaleOfProject`	$829.30K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$813.70K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-31.76K	USD	1 Quarter
Income (Loss) Before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$926.29K	USD	1 Quarter
Income (Loss) Before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-728.82K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-728.82K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$926.29K	USD	1 Quarter
Accretion of preferred dividends and discount	`OtherPreferredStockDividendsAndAdjustments`	$104.90K	USD	1 Quarter
Accretion of preferred dividends and discount	`OtherPreferredStockDividendsAndAdjustments`	$190.75K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$821.39K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-919.58K	USD	1 Quarter
Income (loss) per common share basic (in Dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Income (loss) per common share basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Income (loss) per common share diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Income (loss) per common share diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Weighted Average Common Shares Outstanding basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	104.35M	shares	1 Quarter
Weighted Average Common Shares Outstanding basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	101.36M	shares	1 Quarter
Weighted Average Common Shares Outstanding diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	106.46M	shares	1 Quarter
Weighted Average Common Shares Outstanding diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	101.87M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-728.82K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$926.29K	USD	1 Quarter
Amortization of debt discounts and financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$191.36K	USD	1 Quarter
Gain on sale of product line	`GainLossOnSaleOfOtherAssets`	$-829.30K	USD	1 Quarter
Gain on derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	$172.48K	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$2.17K	USD	1 Quarter
Stock based compensation expense	`AllocatedShareBasedCompensationExpense`	$36.16K	USD	1 Quarter
Stock based compensation expense	`AllocatedShareBasedCompensationExpense`	$32.49K	USD	1 Quarter
Depreciation	`Depreciation`	$12.18K	USD	1 Quarter
Depreciation	`Depreciation`	$1.11K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$60.42K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$60.42K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$29.81K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$796.00	USD	1 Quarter
Accounts receivable, trade and other	`IncreaseDecreaseInAccountsReceivable`	$86.50K	USD	1 Quarter
Accounts receivable, trade and other	`IncreaseDecreaseInAccountsReceivable`	$462.40K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-553.80K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$122.47K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$112.30K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-21.82K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-24.22K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-17.51K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-387.70K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$95.42K	USD	1 Quarter
Accrued liabilities & expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$24.26K	USD	1 Quarter
Accrued liabilities & expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$93.87K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInDeposits`	$-40.23K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInDeposits`	$25.78K	USD	1 Quarter
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$6.51K	USD	1 Quarter
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$6.22K	USD	1 Quarter
Net Cash (Used In) Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-394.57K	USD	1 Quarter
Net Cash (Used In) Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$3.31K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$6.64K	USD	1 Quarter
Proceeds from sale of product line	`ProceedsFromSaleOfOtherProductiveAssets`	$1.00M	USD	1 Quarter
Net Cash Provided By (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$1.01M	USD	1 Quarter
Net Cash Provided By (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.00K	USD	1 Quarter
Proceeds from issuance of note payable	`ProceedsFromNotesPayable`	$700.00K	USD	1 Quarter
Payments on note payable	`RepaymentsOfLongTermDebt`	$11.80K	USD	1 Quarter
Payments on note payable	`RepaymentsOfLongTermDebt`	$24.78K	USD	1 Quarter
Payments on note payable related party	`IncreaseDecreaseInNotesPayableRelatedParties`	$-25.11K	USD	1 Quarter
Repayment of convertible debentures	`RepaymentsOfConvertibleDebt`	$1.61M	USD	1 Quarter
Net Cash Used In Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-942.93K	USD	1 Quarter
Net Cash Used In Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.78K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-423.35K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$67.02K	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$537.74K	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$136.03K	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$961.09K	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$203.05K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$537.74K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$136.03K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$961.09K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$203.05K	USD	Point-in-time
Cash paid during the period for interest expense	`OtherFinancialServicesCosts`	$174.67K	USD	1 Quarter
Cash paid during the period for interest expense	`OtherFinancialServicesCosts`	$1.75K	USD	1 Quarter
Accretion of discount on redeemable preferred stock	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$123.11K	USD	1 Quarter
Accretion of discount on redeemable preferred stock	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$57.34K	USD	1 Quarter
Accretion of dividends on redeemable preferred stock	`TemporaryEquityAccretionOfDividends`	$-67.64K	USD	1 Quarter
Accretion of dividends on redeemable preferred stock	`TemporaryEquityAccretionOfDividends`	$-47.56K	USD	1 Quarter
Issuance of note payable in conjunction with warrant cancellation	`IssuanceOfNotePayableInConjunctionWithWarrantCancellation`	$50.00K	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.24M	USD	Point-in-time
Shares issued to directors and management at approximately $0.18 per share	`StockIssuedDuringPeriodValueOther`	$30.00K	USD	1 Quarter
Stock-based compensation expense related to employee stock options	`StockIssuedDuringPeriodValueShareBasedCompensation`	$6.17K	USD	1 Quarter
Accretion of redeemable preferred stock discount	`PreferredStockAccretionOfRedemptionDiscount`	$-123.11K	USD	1 Quarter
Accretion of redeemable preferred stock dividend	`TemporaryEquityAccretionOfDividends`	$-67.64K	USD	1 Quarter
Accretion of redeemable preferred stock dividend	`TemporaryEquityAccretionOfDividends`	$-47.56K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-728.82K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$926.29K	USD	1 Quarter
Balance	`StockholdersEquity`	$5.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.24M	USD	Point-in-time

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