10-K Filing

TELKONET INC CIK: 1094084 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001019687-16-005641`
Period End Date	20151231
Filing Date	20160330
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	tkoi-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 46 Cash Flow Statement 64 Stockholders Equity 17

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$572.67K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$951.25K	USD	Point-in-time
Restricted cash on deposit	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$63.00K	USD	Point-in-time
Restricted cash on deposit	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$31.28K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.26M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.46M	USD	Point-in-time
Inventories	`InventoryNet`	$812.05K	USD	Point-in-time
Inventories	`InventoryNet`	$1.03M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$95.28K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$157.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.77M	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`	$4.22M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	127.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	125.04M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$142.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$131.75K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	125.04M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	127.05M	shares	Point-in-time
Goodwill	`Goodwill`	$5.80M	USD	Point-in-time
Goodwill	`Goodwill`	$5.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$775.26K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.02M	USD	Point-in-time
Deposits	`DepositsAssets`	$34.24K	USD	Point-in-time
Deposits	`DepositsAssets`	$34.00K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$33.58K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$14.63K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$6.88M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$6.62M	USD	Point-in-time
Total Assets	`Assets`	$10.79M	USD	Point-in-time
Total Assets	`Assets`	$10.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.68M	USD	Point-in-time
Accrued liabilities and expenses	`AccruedLiabilitiesCurrent`	$1.09M	USD	Point-in-time
Accrued liabilities and expenses	`AccruedLiabilitiesCurrent`	$882.04K	USD	Point-in-time
Notes payable - current	`LongTermDebtCurrent`	$279.74K	USD	Point-in-time
Notes payable - current	`LongTermDebtCurrent`	$93.34K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$628.20K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$901.77K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$120.75K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$291.96K	USD	Point-in-time
Deferred lease liability - current	`CapitalLeaseObligationsCurrent`	$15.21K	USD	Point-in-time
Deferred lease liability - current	`CapitalLeaseObligationsCurrent`	-	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$394.72K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$309.84K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.19M	USD	Point-in-time
Deferred lease liability - long term	`CapitalLeaseObligationsNoncurrent`	$140.57K	USD	Point-in-time
Deferred lease liability - long term	`CapitalLeaseObligationsNoncurrent`	$103.80K	USD	Point-in-time
Notes payable - long term	`LongTermNotesPayable`	-	USD	Point-in-time
Notes payable - long term	`LongTermNotesPayable`	$114.21K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$734.05K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$534.66K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$789.45K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$837.85K	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 December 31, 2014, preference in liquidation of $1,303,859 as of December 31, 2014	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	-	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 December 31, 2014, preference in liquidation of $1,303,859 as of December 31, 2014	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	$1.30M	USD	Point-in-time
Total redeemable preferred stock	`PreferredStockRedemptionAmountFutureRedeemableSecurities`	-	USD	Point-in-time
Total redeemable preferred stock	`PreferredStockRedemptionAmountFutureRedeemableSecurities`	$1.30M	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; 127,054,848 and 125,035,612 shares issued and outstanding at December 31, 2015 and 2014, respectively	`CommonStockValue`	$127.05K	USD	Point-in-time
Common stock, par value $.001 per share; 190,000,000 shares authorized; 127,054,848 and 125,035,612 shares issued and outstanding at December 31, 2015 and 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`	$126.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-121.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-122.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.50M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$10.98M	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`	$10.91M	USD	Annual
Product	`RevenueOtherManufacturedProducts`	$10.97M	USD	Annual
Recurring	`OtherRecurringIncome`	$4.18M	USD	Annual
Recurring	`OtherRecurringIncome`	$3.82M	USD	Annual
Total Net Revenue	`Revenues`	$15.08M	USD	Annual
Total Net Revenue	`Revenues`	$14.80M	USD	Annual
Product	`CostOfOtherManufacturedProducts`	$6.50M	USD	Annual
Product	`CostOfOtherManufacturedProducts`	$5.73M	USD	Annual
Recurring	`CostOfRevenue`	$1.05M	USD	Annual
Recurring	`CostOfRevenue`	$1.01M	USD	Annual
Total Cost of Sales	`CostOfGoodsSold`	$6.75M	USD	Annual
Total Cost of Sales	`CostOfGoodsSold`	$7.56M	USD	Annual
Gross Profit	`GrossProfit`	$7.24M	USD	Annual
Gross Profit	`GrossProfit`	$8.34M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.31M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.61M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.38M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.37M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$273.51K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$275.24K	USD	Annual
Total Operating Expense	`OperatingExpenses`	$6.95M	USD	Annual
Total Operating Expense	`OperatingExpenses`	$8.26M	USD	Annual
Income from Operations	`OperatingIncomeLoss`	$284.96K	USD	Annual
Income from Operations	`OperatingIncomeLoss`	$77.41K	USD	Annual
Interest (expense) income, net	`InterestIncomeExpenseNet`	$-40.27K	USD	Annual
Interest (expense) income, net	`InterestIncomeExpenseNet`	$-69.44K	USD	Annual
Total Other (Expenses)	`NonoperatingIncomeExpense`	$-40.27K	USD	Annual
Total Other (Expenses)	`NonoperatingIncomeExpense`	$-69.44K	USD	Annual
Income Before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$244.68K	USD	Annual
Income Before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.97K	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$197.07K	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$201.85K	USD	Annual
Net (Loss) Income	`NetIncomeLoss`	$42.83K	USD	Annual
Net (Loss) Income	`NetIncomeLoss`	$-189.10K	USD	Annual
Accretion of preferred dividends and discount	`OtherPreferredStockDividendsAndAdjustments`	$18.25K	USD	Annual
Accretion of preferred dividends and discount	`OtherPreferredStockDividendsAndAdjustments`	$138.23K	USD	Annual
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-95.40K	USD	Annual
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-207.36K	USD	Annual
Net loss attributable to common stockholders per common share - basic	`EarningsPerShareBasic`	-	USD	Annual
Net loss attributable to common stockholders per common share - basic	`EarningsPerShareBasic`	-	USD	Annual
Net loss attributable to common stockholders per common share - diluted	`EarningsPerShareDiluted`	-	USD	Annual
Net loss attributable to common stockholders per common share - diluted	`EarningsPerShareDiluted`	-	USD	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	125.04M	shares	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	125.86M	shares	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	125.86M	shares	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	125.04M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$42.83K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-189.10K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$15.05K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$14.38K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$9.10K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$18.95K	USD	Annual
Depreciation	`Depreciation`	$33.56K	USD	Annual
Depreciation	`Depreciation`	$31.83K	USD	Annual
Amortization	`AdjustmentForAmortization`	$241.68K	USD	Annual
Amortization	`AdjustmentForAmortization`	$241.68K	USD	Annual
Provision for doubtful accounts, net of recoveries	`ProvisionForDoubtfulAccounts`	$19.95K	USD	Annual
Provision for doubtful accounts, net of recoveries	`ProvisionForDoubtfulAccounts`	$-76.91K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-199.39K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-199.39K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$822.88K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-276.24K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$87.87K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-215.20K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-75.93K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$62.22K	USD	Annual
Deposits and other long term assets	`IncreaseDecreaseInDepositOtherAssets`	$-237.00	USD	Annual
Deposits and other long term assets	`IncreaseDecreaseInDepositOtherAssets`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-162.90K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$73.87K	USD	Annual
Accrued liabilities and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-907.13K	USD	Annual
Accrued liabilities and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-207.98K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$171.21K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$9.46K	USD	Annual
Customer deposits	`IncreaseDecreaseInDeposits`	$-84.88K	USD	Annual
Customer deposits	`IncreaseDecreaseInDeposits`	$317.31K	USD	Annual
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$9.65K	USD	Annual
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$-21.56K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-401.92K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.60K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$120.67K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.08K	USD	Annual
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-319.00K	USD	Annual
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-31.72K	USD	Annual
Net Cash (Used In) Provided By Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$198.33K	USD	Annual
Net Cash (Used In) Provided By Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.36K	USD	Annual
Payments on note payable	`RepaymentsOfNotesPayable`	$266.54K	USD	Annual
Payments on note payable	`RepaymentsOfNotesPayable`	$300.61K	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$262.50K	USD	Annual
Net Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$273.57K	USD	Annual
Net Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$628.20K	USD	Annual
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$361.67K	USD	Annual
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$235.46K	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$555.40K	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-176.82K	USD	Annual
Cash and cash equivalents at the beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Cash and cash equivalents at the beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$572.67K	USD	Point-in-time
Cash and cash equivalents at the beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$951.25K	USD	Point-in-time
Cash and cash equivalents at the end of the year	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Cash and cash equivalents at the end of the year	`CashAndCashEquivalentsAtCarryingValue`	$572.67K	USD	Point-in-time
Cash and cash equivalents at the end of the year	`CashAndCashEquivalentsAtCarryingValue`	$951.25K	USD	Point-in-time
Cash paid during the year for interest	`InterestPaid`	$54.43K	USD	Annual
Cash paid during the year for interest	`InterestPaid`	$39.01K	USD	Annual
Cash paid during the year for income taxes, net of refunds	`IncomeTaxesPaid`	$-10.43K	USD	Annual
Cash paid during the year for income taxes, net of refunds	`IncomeTaxesPaid`	$1.42K	USD	Annual
Accretion of discount on redeemable preferred stock	`AccretionOfDiscountOnRedeemablePreferredStock`	$90.15K	USD	Annual
Accretion of discount on redeemable preferred stock	`AccretionOfDiscountOnRedeemablePreferredStock`	-	USD	Annual
Accretion of dividends on redeemable preferred stock	`AccretionOfDividendsOnRedeemablePreferredStock`	$96.05K	USD	Annual
Accretion of dividends on redeemable preferred stock	`AccretionOfDividendsOnRedeemablePreferredStock`	$47.63K	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$5.89M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$4.54M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$4.50M	USD	Point-in-time
Stock-based compensation expense related to employee stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$14.38K	USD	Annual
Stock-based compensation expense related to employee stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$15.05K	USD	Annual
Shares issued to preferred stockholders for warrants exercised, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$262.50K	USD	Annual
Accretion of redeemable preferred stock discount	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$-64.21K	USD	Annual
Accretion of redeemable preferred stock dividends	`TemporaryEquityAccretionOfDividends`	$-74.03K	USD	Annual
Accretion of redeemable preferred stock dividends	`TemporaryEquityAccretionOfDividends`	$-18.25K	USD	Annual
Value of warrants issued in conjunction with line of credit	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$37.90K	USD	Annual
Value of warrants issued for consulting	`AdjustmentOfWarrantsGrantedForServices`	$4.78K	USD	Annual
Reclassification from temporary equity to permanent equity, value	`ReclassificationFromTemporaryEquityToPermanentEquityValue`	$1.32M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$42.83K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-189.10K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$5.89M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$4.54M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$4.50M	USD	Point-in-time

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