10-K Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001193125-12-135936`
Period End Date	20111231
Filing Date	20120328
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	nexs-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 37 Cash Flow Statement 68 Stockholders Equity 17

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$52.91K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.90K	USD	Point-in-time
Inventories, reserve	`InventoryValuationReserves`	$895.41K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Inventories, reserve	`InventoryValuationReserves`	$270.80K	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $52,912 and $35,899	`AccountsReceivableNetCurrent`	$645.25K	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $52,912 and $35,899	`AccountsReceivableNetCurrent`	$564.47K	USD	Point-in-time
Other intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$592.64K	USD	Point-in-time
Other intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$879.49K	USD	Point-in-time
Inventories, less reserve of $895,415 and $270,797	`InventoryNet`	$3.54M	USD	Point-in-time
Inventories, less reserve of $895,415 and $270,797	`InventoryNet`	$2.98M	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
Note receivable	`NotesAndLoansReceivableNetCurrent`	$1.11M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$109.65K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$65.75K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.25M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.45M	shares	Point-in-time
Other assets	`OtherAssetsCurrent`	$26.36K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.25M	shares	Point-in-time
Other assets	`OtherAssetsCurrent`	$15.61K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.65M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.28M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.18M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$643.34K	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$645.29K	USD	Point-in-time
Computers and software	`ComputersAndSoftware`	$791.03K	USD	Point-in-time
Computers and software	`ComputersAndSoftware`	$798.26K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$553.83K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$553.83K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$3.17M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$3.28M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.54M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.09M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$1.08M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$742.98K	USD	Point-in-time
Goodwill	`Goodwill`	$2.40M	USD	Point-in-time
Goodwill	`Goodwill`	$1.99M	USD	Point-in-time
Other intangible assets, less accumulated amortization of $879,490 and $592,645	`IntangibleAssetsNetExcludingGoodwill`	$2.75M	USD	Point-in-time
Other intangible assets, less accumulated amortization of $879,490 and $592,645	`IntangibleAssetsNetExcludingGoodwill`	$2.54M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$23.86K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$58.51K	USD	Point-in-time
Total assets	`Assets`	$17.02M	USD	Point-in-time
Total assets	`Assets`	$11.95M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.27M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.07M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$213.41K	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$206.80K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$35.21K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$18.15K	USD	Point-in-time
Current portion of deferred rent	`DeferredRentCreditCurrent`	$80.13K	USD	Point-in-time
Current portion of deferred rent	`DeferredRentCreditCurrent`	$25.88K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$74.00	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.43K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.32M	USD	Point-in-time
Convertible promissory notes to related parties, net of debt discount	`ConvertibleLongTermNotesPayable`	$2.23M	USD	Point-in-time
Convertible promissory notes to related parties, net of debt discount	`ConvertibleLongTermNotesPayable`	$2.31M	USD	Point-in-time
Deferred rent, less current portion	`DeferredRentCreditNoncurrent`	$25.88K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.64M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.001 par value, 30,000,000 and 25,000,000 shares authorized, 16,452,738 and 16,245,503 issued and outstanding	`CommonStockValue`	$16.25K	USD	Point-in-time
Common stock, $.001 par value, 30,000,000 and 25,000,000 shares authorized, 16,452,738 and 16,245,503 issued and outstanding	`CommonStockValue`	$16.45K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$49.39M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$50.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-41.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$20.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.16M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$17.02M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.95M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$8.99M	USD	Annual
Revenues	`SalesRevenueNet`	$5.42M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$4.06M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$7.08M	USD	Annual
Gross profit	`GrossProfit`	$1.91M	USD	Annual
Gross profit	`GrossProfit`	$1.36M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.98M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.10M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$943.61K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$833.88K	USD	Annual
Impairment expense	`GoodwillImpairmentLoss`	$407.37K	USD	Annual
Total operating expenses	`OperatingExpenses`	$7.04M	USD	Annual
Total operating expenses	`OperatingExpenses`	$7.22M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-5.68M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-5.31M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$569.00	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.66K	USD	Annual
Debt extinguishment costs	`GainsLossesOnExtinguishmentOfDebt`	$-441.74K	USD	Annual
Interest expense	`InterestExpense`	$126.73K	USD	Annual
Interest expense	`InterestExpense`	$247.69K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$10.92K	USD	Annual
Total non-operating expense, net	`NonoperatingIncomeExpense`	$-687.77K	USD	Annual
Total non-operating expense, net	`NonoperatingIncomeExpense`	$-115.24K	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-6.37M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-5.42M	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.65M	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-44.16K	USD	Annual
Net loss	`NetIncomeLoss`	$-5.47M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.01M	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.39	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.33	USD	Annual
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	Annual
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.10	USD	Annual
Net loss	`EarningsPerShareBasicAndDiluted`	$-0.49	USD	Annual
Net loss	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	Annual
Basic and diluted weighted average shares outstanding	`SharesOutstandingBasicAndDilutedWeightedAverageNumber`	16.24M	shares	Annual
Basic and diluted weighted average shares outstanding	`SharesOutstandingBasicAndDilutedWeightedAverageNumber`	16.41M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.47M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.01M	USD	Annual
Depreciation	`Depreciation`	$545.90K	USD	Annual
Depreciation	`Depreciation`	$466.35K	USD	Annual
Amortization of intangible assets and other assets	`AmortizationOfIntangibleAssets`	$287.84K	USD	Annual
Amortization of intangible assets and other assets	`AmortizationOfIntangibleAssets`	$282.25K	USD	Annual
Amortization of debt discount and debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$89.34K	USD	Annual
Amortization of debt discount and debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$158.93K	USD	Annual
Amortization of deferred rent	`AmortizationOfDeferredCharges`	$-80.13K	USD	Annual
Amortization of deferred rent	`AmortizationOfDeferredCharges`	$-65.78K	USD	Annual
Write down of assets relating to discontinued operations	`WriteDownOfAssetsRelatedToDiscontinuedOperations`	$631.17K	USD	Annual
Loss (gain) on sale of businesses	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-51.65K	USD	Annual
Loss (gain) on sale of businesses	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$16.87K	USD	Annual
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-3.40K	USD	Annual
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-9.11K	USD	Annual
Debt extinguishment costs	`GainsLossesOnExtinguishmentOfDebt`	$-441.74K	USD	Annual
Increase (decrease) in inventory reserve	`InventoryWriteDown`	$624.62K	USD	Annual
Increase (decrease) in inventory reserve	`InventoryWriteDown`	$-199.69K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$301.04K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$318.11K	USD	Annual
Loss due to closure of contract manufacturer	`LossDueToClosureOfContractManufacturer`	$-111.13K	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	$407.37K	USD	Annual
Decrease in trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-80.78K	USD	Annual
Decrease in trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-647.37K	USD	Annual
Increase in inventories	`IncreaseDecreaseInInventories`	$399.01K	USD	Annual
Increase in inventories	`IncreaseDecreaseInInventories`	$99.64K	USD	Annual
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-43.90K	USD	Annual
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-51.01K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.24K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-17.82K	USD	Annual
Decrease in accounts payable, accrued liabilities and related party payable	`IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndRelatedPartyPayable`	$-733.48K	USD	Annual
Decrease in accounts payable, accrued liabilities and related party payable	`IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndRelatedPartyPayable`	$-195.63K	USD	Annual
Decrease in accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-90.32K	USD	Annual
Decrease in accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-6.61K	USD	Annual
Decrease in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-13.60K	USD	Annual
Decrease in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-3.36K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.10M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.56M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.37M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.45M	USD	Annual
Proceeds from sale of businesses, net of transaction costs	`ProceedsFromSaleOfBusinessesNetOfTransactionCosts`	$1.11M	USD	Annual
Proceeds from sale of businesses, net of transaction costs	`ProceedsFromSaleOfBusinessesNetOfTransactionCosts`	$1.15M	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.50K	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$6.60K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$223.88K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$313.45K	USD	Annual
Acquisition costs of Lumificient Corporation	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$100.00K	USD	Annual
Patents and trademark costs	`PaymentsToAcquireIntangibleAssets`	$139.39K	USD	Annual
Patents and trademark costs	`PaymentsToAcquireIntangibleAssets`	$311.34K	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$429.32K	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$755.21K	USD	Annual
Payments on promissory notes	`RepaymentsOfNotesPayable`	$3.80M	USD	Annual
Proceeds from sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$-49.95K	USD	Annual
Net proceeds from exercise of employee stock options and warrants	`ProceedsFromEmployeeStockOptionsAndWarrantsExercisedNet`	$319.75K	USD	Annual
Net proceeds from exercise of employee stock options and warrants	`ProceedsFromEmployeeStockOptionsAndWarrantsExercisedNet`	$14.90K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.84M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$319.75K	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.86M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.29M	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.31M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.31M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Cash paid during period for interest	`InterestPaid`	$24.00K	USD	Annual
Cash paid during period for interest	`InterestPaid`	$292.27K	USD	Annual
Note receivable from sale of businesses	`NoteReceivableFromSaleOfBusinesses`	$1.11M	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$8.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.16M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	16.25M	shares	Point-in-time
Exercise of employee stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$14.90K	USD	Annual
Exercise of warrants	`StockIssuedDuringPeriodSharePurchaseWarrantsExercisedValue`	$319.75K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$301.04K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$318.11K	USD	Annual
Expenses associated with the sale of common stock	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$49.95K	USD	Annual
Net loss	`NetIncomeLoss`	$-5.47M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.01M	USD	Annual
Balance	`StockholdersEquity`	$8.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.16M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	16.25M	shares	Point-in-time

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