10-Q Filing

TELKONET INC CIK: 1094084 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001019687-15-001893`
Period End Date	20150331
Filing Date	20150513
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	tkoi-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 46 Cash Flow Statement 62 Stockholders Equity 8

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$572.67K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$555.44K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$894.29K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Restricted cash on deposit	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$63.00K	USD	Point-in-time
Restricted cash on deposit	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$63.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$917.72K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.46M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.03M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.16M	USD	Point-in-time
Redeemable preferred stock shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$95.28K	USD	Point-in-time
Redeemable preferred stock shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$132.84K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.77M	USD	Point-in-time
Redeemable preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	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
Preferred Stock shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$122.87K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$131.75K	USD	Point-in-time
Goodwill	`Goodwill`	$5.80M	USD	Point-in-time
Goodwill	`Goodwill`	$5.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.02M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$956.52K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deposits	`DepositsAssets`	$34.24K	USD	Point-in-time
Deposits	`DepositsAssets`	$34.00K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	190.00M	shares	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$33.58K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	190.00M	shares	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$28.84K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	125.04M	shares	Point-in-time
Total other assets	`AssetsNoncurrent`	$6.82M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$6.88M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	125.04M	shares	Point-in-time
Total Assets	`Assets`	$9.77M	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
Total Assets	`Assets`	$10.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.40M	USD	Point-in-time
Accrued liabilities and expenses	`AccruedLiabilitiesCurrent`	$1.09M	USD	Point-in-time
Accrued liabilities and expenses	`AccruedLiabilitiesCurrent`	$1.14M	USD	Point-in-time
Notes payable - current	`NotesPayableCurrent`	$271.26K	USD	Point-in-time
Notes payable - current	`NotesPayableCurrent`	$279.74K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$553.20K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$628.20K	USD	Point-in-time
Deferred revenues	`DeferredRevenueNoncurrent`	$181.58K	USD	Point-in-time
Deferred revenues	`DeferredRevenueNoncurrent`	$120.75K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$384.19K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$394.72K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.19M	USD	Point-in-time
Deferred lease liability	`CapitalLeaseObligationsNoncurrent`	$140.57K	USD	Point-in-time
Deferred lease liability	`CapitalLeaseObligationsNoncurrent`	$140.67K	USD	Point-in-time
Notes payable - long term	`LongTermNotesPayable`	$40.17K	USD	Point-in-time
Notes payable - long term	`LongTermNotesPayable`	$114.21K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$585.97K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$534.66K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$766.81K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$789.45K	USD	Point-in-time
Redeemable preferred stock: 15,000,000 shares authorized, par value $.001 per share: Series A; 215 shares issued, 185 shares outstanding at March 31, 2015 and December 31, 2014, respectively, preference in liquidation of $1,322,112 and $1,303,859 as of March 31, 2015 and December 31, 2014, respectively	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	$1.30M	USD	Point-in-time
Redeemable preferred stock: 15,000,000 shares authorized, par value $.001 per share: Series A; 215 shares issued, 185 shares outstanding at March 31, 2015 and December 31, 2014, respectively, preference in liquidation of $1,322,112 and $1,303,859 as of March 31, 2015 and December 31, 2014, respectively	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	$1.32M	USD	Point-in-time
Total redeemable preferred stock	`PreferredStockRedemptionAmount`	$1.32M	USD	Point-in-time
Total redeemable preferred stock	`PreferredStockRedemptionAmount`	$1.30M	USD	Point-in-time
Series B; 538 shares issued, 55 shares outstanding at March 31, 2015 and December 31, 2014, respectively, preference in liquidation of $377,461 and $372,030 as of March 31, 2015 and December 31, 2014, respectively	`PreferredStockValue`	$377.46K	USD	Point-in-time
Series B; 538 shares issued, 55 shares outstanding at March 31, 2015 and December 31, 2014, respectively, preference in liquidation of $377,461 and $372,030 as of March 31, 2015 and December 31, 2014, respectively	`PreferredStockValue`	$372.03K	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, 2015 and December 31, 2014, 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, 2015 and December 31, 2014, respectively	`CommonStockValue`	$125.03K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$125.91M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$125.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-121.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-122.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.50M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.74M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$9.77M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$10.79M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Product	`RevenueOtherManufacturedProducts`	$1.58M	USD	1 Quarter
Product	`RevenueOtherManufacturedProducts`	$1.71M	USD	1 Quarter
Recurring	`OtherRecurringIncome`	$999.18K	USD	1 Quarter
Recurring	`OtherRecurringIncome`	$922.97K	USD	1 Quarter
Total Net Revenues	`Revenues`	$2.57M	USD	1 Quarter
Total Net Revenues	`Revenues`	$2.63M	USD	1 Quarter
Product	`CostOfOtherManufacturedProducts`	$1.35M	USD	1 Quarter
Product	`CostOfOtherManufacturedProducts`	$1.09M	USD	1 Quarter
Recurring	`CostOfRevenue`	$254.30K	USD	1 Quarter
Recurring	`CostOfRevenue`	$238.26K	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsSold`	$1.60M	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsSold`	$1.33M	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.25M	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.03M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$296.69K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$359.53K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.49M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$66.66K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$69.30K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.75M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.92M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-671.84K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-715.78K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-20.05K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-11.11K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-11.11K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-20.05K	USD	1 Quarter
Loss Before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-691.89K	USD	1 Quarter
Loss Before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-726.90K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$52.19K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$51.31K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-744.08K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-778.21K	USD	1 Quarter
Accretion of preferred dividends and discount	`OtherPreferredStockDividendsAndAdjustments`	$18.25K	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`	$-762.33K	USD	1 Quarter
Income (loss) per common share - basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Income (loss) per common share - basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Income (loss) per common share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Income (loss) per common share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	125.04M	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	125.04M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	125.04M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	125.04M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-744.08K	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`	$4.20K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$4.74K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Depreciation	`Depreciation`	$8.88K	USD	1 Quarter
Depreciation	`Depreciation`	$6.24K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$60.42K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$60.42K	USD	1 Quarter
Provision for doubtful accounts, net of recoveries	`ProvisionForDoubtfulAccounts`	$-3.99K	USD	1 Quarter
Provision for doubtful accounts, net of recoveries	`ProvisionForDoubtfulAccounts`	$3.67K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-51.31K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-51.31K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-546.70K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-275.62K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$130.99K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-51.77K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$37.56K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-21.62K	USD	1 Quarter
Deposits and other long term assets	`IncreaseDecreaseInDepositOtherAssets`	$-238.00	USD	1 Quarter
Deposits and other long term assets	`IncreaseDecreaseInDepositOtherAssets`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-278.64K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-335.13K	USD	1 Quarter
Accrued liabilities and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-167.14K	USD	1 Quarter
Accrued liabilities and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$53.27K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$452.25K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$60.82K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInDeposits`	$-10.53K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInDeposits`	$264.90K	USD	1 Quarter
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$97.00	USD	1 Quarter
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$14.87K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-415.10K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-75.79K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$120.67K	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-382.00K	USD	1 Quarter
Net Cash Provided By Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	1 Quarter
Net Cash Provided By Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$261.33K	USD	1 Quarter
Payments on note payable	`RepaymentsOfLongTermDebt`	$82.53K	USD	1 Quarter
Payments on note payable	`RepaymentsOfLongTermDebt`	$65.20K	USD	1 Quarter
Net (payments) proceeds from line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$201.28K	USD	1 Quarter
Net (payments) proceeds from line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-75.00K	USD	1 Quarter
Net Cash (Used In) Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-157.53K	USD	1 Quarter
Net Cash (Used In) Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$136.08K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$321.62K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-572.63K	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`	$555.44K	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`	$1.13M	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`	$555.44K	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`	$1.13M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$19.94K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$11.40K	USD	1 Quarter
Accretion of discount on redeemable preferred stock	`AccretionOfDiscountOnRedeemablePreferredStock`	$24.53K	USD	1 Quarter
Accretion of discount on redeemable preferred stock	`AccretionOfDiscountOnRedeemablePreferredStock`	-	USD	1 Quarter
Accretion of dividends on redeemable preferred stock	`AccretionOfDividendsOnRedeemablePreferredStock`	$23.68K	USD	1 Quarter
Accretion of dividends on redeemable preferred stock	`AccretionOfDividendsOnRedeemablePreferredStock`	$23.68K	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$4.50M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$3.74M	USD	Point-in-time
Stock-based compensation expense related to employee stock options	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.20K	USD	1 Quarter
Accretion of redeemable preferred stock dividends	`TemporaryEquityAccretionOfDividends`	$-18.25K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-744.08K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-778.21K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$4.50M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$3.74M	USD	Point-in-time

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