10-Q Filing

TELKONET INC CIK: 1094084 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001019687-14-001881`
Period End Date	20140331
Filing Date	20140515
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	tkoi-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 46 Cash Flow Statement 58 Stockholders Equity 9

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$572.67K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$894.29K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Restricted cash on deposit	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Restricted cash on deposit	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$382.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.38M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.66M	USD	Point-in-time
Inventories	`InventoryNet`	$887.61K	USD	Point-in-time
Inventories	`InventoryNet`	$939.38K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$171.22K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$149.60K	USD	Point-in-time
Redeemable preferred stock shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.73M	USD	Point-in-time
Redeemable preferred stock shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.31M	USD	Point-in-time
Redeemable preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$159.06K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$44.64K	USD	Point-in-time
Redeemable preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Goodwill	`Goodwill`	$5.80M	USD	Point-in-time
Goodwill	`Goodwill`	$5.80M	USD	Point-in-time
Preferred Stock shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.20M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.26M	USD	Point-in-time
Deposits	`DepositsAssets`	$34.24K	USD	Point-in-time
Deposits	`DepositsAssets`	$34.24K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$7.09M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$7.03M	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
Total Assets	`Assets`	$10.86M	USD	Point-in-time
Total Assets	`Assets`	$10.50M	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
Accounts payable	`AccountsPayableCurrent`	$1.51M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	125.04M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	125.04M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.84M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	125.04M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	125.04M	shares	Point-in-time
Notes payable - current	`NotesPayableCurrent`	$265.99K	USD	Point-in-time
Notes payable - current	`NotesPayableCurrent`	$268.93K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$201.28K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Accrued liabilities and expenses	`AccruedLiabilitiesCurrent`	$2.00M	USD	Point-in-time
Accrued liabilities and expenses	`AccruedLiabilitiesCurrent`	$1.83M	USD	Point-in-time
Deferred revenues	`DeferredRevenueNoncurrent`	$563.54K	USD	Point-in-time
Deferred revenues	`DeferredRevenueNoncurrent`	$111.29K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$342.30K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$77.41K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.71M	USD	Point-in-time
Deferred lease liability	`CapitalLeaseObligationsNoncurrent`	$145.79K	USD	Point-in-time
Deferred lease liability	`CapitalLeaseObligationsNoncurrent`	$130.92K	USD	Point-in-time
Notes payable - long term	`LongTermNotesPayable`	$326.36K	USD	Point-in-time
Notes payable - long term	`LongTermNotesPayable`	$394.50K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$335.27K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$386.59K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$858.74K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$860.70K	USD	Point-in-time
Redeemable preferred stock	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	$1.20M	USD	Point-in-time
Redeemable preferred stock	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	$1.17M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - Series B preferred stock; 538 shares issued, 55 shares outstanding at March 31, 2014 and December 31, 2013, preference in liquidation of $355,435 and $350,005 as of March 31, 2014 and December 31, 2013, respectively	`PreferredStockValue`	$324.06K	USD	Point-in-time
Preferred stock - Series B preferred stock; 538 shares issued, 55 shares outstanding at March 31, 2014 and December 31, 2013, preference in liquidation of $355,435 and $350,005 as of March 31, 2014 and December 31, 2013, respectively	`PreferredStockValue`	$336.51K	USD	Point-in-time
Common stock, par value $.001 per share; 190,000,000 shares authorized; 125,035,612 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$125.03K	USD	Point-in-time
Common stock, par value $.001 per share; 190,000,000 shares authorized; 125,035,612 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$125.03K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$126.04M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$125.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-122.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-121.95M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.73M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.54M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$10.50M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$10.86M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Product	`RevenueOtherManufacturedProducts`	$1.71M	USD	1 Quarter
Product	`RevenueOtherManufacturedProducts`	$2.17M	USD	1 Quarter
Recurring	`OtherRecurringIncome`	$922.97K	USD	1 Quarter
Recurring	`OtherRecurringIncome`	$962.13K	USD	1 Quarter
Total Net Revenues	`Revenues`	$3.13M	USD	1 Quarter
Total Net Revenues	`Revenues`	$2.63M	USD	1 Quarter
Product	`CostOfOtherManufacturedProducts`	$1.35M	USD	1 Quarter
Product	`CostOfOtherManufacturedProducts`	$1.43M	USD	1 Quarter
Recurring	`CostOfRevenue`	$266.16K	USD	1 Quarter
Recurring	`CostOfRevenue`	$254.30K	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsSold`	$1.70M	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsSold`	$1.60M	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.43M	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.03M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$296.69K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$302.14K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.38M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.46M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$66.66K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$64.12K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.75M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.83M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-715.78K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-394.93K	USD	1 Quarter
Interest expense, net	`FinancingInterestExpense`	$11.11K	USD	1 Quarter
Interest expense, net	`FinancingInterestExpense`	$16.64K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-11.11K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-16.64K	USD	1 Quarter
Loss Before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-726.90K	USD	1 Quarter
Loss Before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-411.57K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$280.00	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$51.31K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-411.85K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-778.21K	USD	1 Quarter
Accretion of preferred dividends and discount	`OtherPreferredStockDividendsAndAdjustments`	$172.90K	USD	1 Quarter
Accretion of preferred dividends and discount	`OtherPreferredStockDividendsAndAdjustments`	$35.76K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-813.97K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-584.74K	USD	1 Quarter
Income (loss) per common share - basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Income (loss) per common share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Income (loss) per common share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Income (loss) per common share - diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	108.10M	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	125.04M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	108.10M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	125.04M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-411.85K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-778.21K	USD	1 Quarter
Stock based compensation expense	`AllocatedShareBasedCompensationExpense`	$2.02K	USD	1 Quarter
Stock based compensation expense	`AllocatedShareBasedCompensationExpense`	$2.02K	USD	1 Quarter
Depreciation	`Depreciation`	$6.24K	USD	1 Quarter
Depreciation	`Depreciation`	$3.70K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$60.42K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$60.42K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-927.00	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$3.67K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-51.31K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.33M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-275.62K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$388.79K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-51.77K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-68.94K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-21.62K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-182.26K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-335.13K	USD	1 Quarter
Accrued liabilities & expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-167.14K	USD	1 Quarter
Accrued liabilities & expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-117.46K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$116.33K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$452.25K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInDeposits`	$264.90K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInDeposits`	$-8.32K	USD	1 Quarter
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$14.87K	USD	1 Quarter
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$-114.00	USD	1 Quarter
Net Cash (Used In) Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$471.11K	USD	1 Quarter
Net Cash (Used In) Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-75.79K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.72K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$120.67K	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$382.00K	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-382.00K	USD	1 Quarter
Net Cash Provided By (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$261.33K	USD	1 Quarter
Net Cash Provided By (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-396.73K	USD	1 Quarter
Payments on note payable	`RepaymentsOfLongTermDebt`	$65.20K	USD	1 Quarter
Payments on note payable	`RepaymentsOfLongTermDebt`	$12.28K	USD	1 Quarter
Proceeds from borrowings on revolving credit facility	`ProceedsFromLinesOfCredit`	$201.28K	USD	1 Quarter
Proceeds from borrowings on revolving credit facility	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Net Cash Provided By (Used In) Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-12.28K	USD	1 Quarter
Net Cash Provided By (Used In) Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$136.08K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$62.11K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$321.62K	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$572.67K	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$894.29K	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$572.67K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$894.29K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash paid during the period for interest expense	`InterestPaidNet`	$1.36K	USD	1 Quarter
Cash paid during the period for interest expense	`InterestPaidNet`	$11.40K	USD	1 Quarter
Accretion of discount on redeemable preferred stock	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$-106.00K	USD	1 Quarter
Accretion of discount on redeemable preferred stock	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$-24.53K	USD	1 Quarter
Accretion of dividends on redeemable preferred stock	`TemporaryEquityAccretionOfDividends`	$-66.90K	USD	1 Quarter
Accretion of dividends on redeemable preferred stock	`TemporaryEquityAccretionOfDividends`	$-23.68K	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$3.73M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$4.54M	USD	Point-in-time
Stock-based compensation expense related to employee stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$2.02K	USD	1 Quarter
Accretion of redeemable preferred stock discount	`AccretionOfRedeemablePreferredStockDiscount`	$-17.51K	USD	1 Quarter
Accretion of redeemable preferred stock dividends	`AccretionOfRedeemablePreferredStockDividends`	$-18.25K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-411.85K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-778.21K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$3.73M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$4.54M	USD	Point-in-time

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