10-Q Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-232897`
Period End Date	20120331
Filing Date	20120515
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	nexs-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 34 Cash Flow Statement 55 Stockholders Equity 11

Balance Sheet 71 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`	$33.23K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.31M	USD	Point-in-time
Inventories, reserve	`InventoryValuationReserves`	$1.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.48M	USD	Point-in-time
Inventories, reserve	`InventoryValuationReserves`	$895.41K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $33,232 and $52,912	`AccountsReceivableNetCurrent`	$525.43K	USD	Point-in-time
Other intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$879.49K	USD	Point-in-time
Other intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$952.91K	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $33,232 and $52,912	`AccountsReceivableNetCurrent`	$564.47K	USD	Point-in-time
Inventories, less reserve of $1,138,025 and $895,415	`InventoryNet`	$2.48M	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
Inventories, less reserve of $1,138,025 and $895,415	`InventoryNet`	$2.98M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$86.47K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$65.75K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.45M	shares	Point-in-time
Other assets	`OtherAssetsCurrent`	$862.00	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.45M	shares	Point-in-time
Other assets	`OtherAssetsCurrent`	$26.36K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.01M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.65M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$3.28M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$1.67M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.54M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.05M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$742.98K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$625.55K	USD	Point-in-time
Goodwill	`Goodwill`	$1.99M	USD	Point-in-time
Goodwill	`Goodwill`	$1.99M	USD	Point-in-time
Other intangible assets, less accumulated amortization of $952,915 and $879,490	`IntangibleAssetsNetExcludingGoodwill`	$2.54M	USD	Point-in-time
Other intangible assets, less accumulated amortization of $952,915 and $879,490	`IntangibleAssetsNetExcludingGoodwill`	$2.50M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$23.86K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$22.32K	USD	Point-in-time
Total assets	`Assets`	$11.95M	USD	Point-in-time
Total assets	`Assets`	$10.15M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.07M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.04M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$18.15K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$17.96K	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$206.80K	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$160.77K	USD	Point-in-time
Current portion of deferred rent	`DeferredRentCreditCurrent`	$4.92K	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`	$74.00	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.22M	USD	Point-in-time
Convertible promissory notes to related parties, net of debt discount	`ConvertibleLongTermNotesPayable`	$2.31M	USD	Point-in-time
Convertible promissory notes to related parties, net of debt discount	`ConvertibleLongTermNotesPayable`	$2.34M	USD	Point-in-time
Accrued interest	`AccruedInterest`	$24.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.58M	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 shares authorized, 16,452,738 issued and outstanding	`CommonStockValue`	$16.45K	USD	Point-in-time
Common stock, $.001 par value, 30,000,000 shares authorized, 16,452,738 issued and outstanding	`CommonStockValue`	$16.45K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$50.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$50.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-43.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-41.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$10.15M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.95M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$1.55M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$1.15M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$1.06M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$1.19M	USD	1 Quarter
Gross (loss) profit	`GrossProfit`	$-39.47K	USD	1 Quarter
Gross (loss) profit	`GrossProfit`	$489.16K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.49M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.60M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$197.17K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$194.06K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.68M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.80M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.72M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.31M	USD	1 Quarter
Interest expense	`InterestExpense`	$27.54K	USD	1 Quarter
Interest expense	`InterestExpense`	$46.88K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$240.00	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$56.00	USD	1 Quarter
Total non-operating expense, net	`NonoperatingIncomeExpense`	$-46.83K	USD	1 Quarter
Total non-operating expense, net	`NonoperatingIncomeExpense`	$-27.30K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.77M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.33M	USD	1 Quarter
Income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$683.00	USD	1 Quarter
Income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$5.38K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.11	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.08	USD	1 Quarter
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Net loss	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Net loss	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`SharesOutstandingBasicAndDilutedWeightedAverageNumber`	16.27M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`SharesOutstandingBasicAndDilutedWeightedAverageNumber`	16.45M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Depreciation	`Depreciation`	$123.28K	USD	1 Quarter
Depreciation	`Depreciation`	$113.50K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$70.03K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$73.42K	USD	1 Quarter
Amortization of debt discount and debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$27.46K	USD	1 Quarter
Amortization of debt discount and debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$22.77K	USD	1 Quarter
Amortization of deferred rent	`AmortizationOfDeferredCharges`	$-18.21K	USD	1 Quarter
Amortization of deferred rent	`AmortizationOfDeferredCharges`	$-20.96K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$26.24K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$72.99K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-6.06K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.32K	USD	1 Quarter
Loss on sale of businesses	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-648.00	USD	1 Quarter
Increase in inventory reserve	`InventoryWriteDown`	$242.61K	USD	1 Quarter
Increase in inventory reserve	`InventoryWriteDown`	$35.45K	USD	1 Quarter
Trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$23.69K	USD	1 Quarter
Trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-39.04K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.04M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-251.82K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$20.72K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$50.37K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-25.50K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-4.86K	USD	1 Quarter
Accounts payable, accrued liabilities and related party payable	`IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndRelatedPartyPayable`	$1.05M	USD	1 Quarter
Accounts payable, accrued liabilities and related party payable	`IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndRelatedPartyPayable`	$-33.22K	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-35.74K	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-46.03K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$24.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-3.38K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$213.39K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$713.80K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.12M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.06M	USD	1 Quarter
Proceeds from the sale of businesses, net of transaction costs	`ProceedsFromSaleOfBusinessesNetOfTransactionCosts`	$1.11M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$78.18K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.60K	USD	1 Quarter
Patent and trademark costs	`PaymentsToAcquireIntangibleAssets`	$30.64K	USD	1 Quarter
Patent and trademark costs	`PaymentsToAcquireIntangibleAssets`	$40.66K	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.68K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$991.49K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.55K	USD	1 Quarter
Proceeds from exercise of employee stock options and warrants, net	`ProceedsFromEmployeeStockOptionsAndWarrantsExercisedNet`	$300.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$300.00K	USD	1 Quarter
Net (decrease) increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.10M	USD	1 Quarter
Net (decrease) increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$175.71K	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.31M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.48M	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`	$5.31M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.48M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$8.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.57M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$26.24K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Balance	`StockholdersEquity`	$8.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.57M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time

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