10-K Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001193125-13-156923`
Period End Date	20121231
Filing Date	20130416
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	rvlt-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 42 Cash Flow Statement 62 Stockholders Equity 18

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$56.93K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.90K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$52.91K	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$873.04K	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$879.49K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $56,931 and $52,912	`AccountsReceivableNetCurrent`	$564.47K	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $56,931 and $52,912	`AccountsReceivableNetCurrent`	$1.31M	USD	Point-in-time
Inventories	`InventoryNet`	$2.98M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Inventories	`InventoryNet`	$2.58M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	600,000.00	shares	Point-in-time
Other assets	`OtherAssetsCurrent`	$92.11K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$390.98K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.71M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.28M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$272.10K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	70.21M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	16.45M	shares	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$126.41K	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$643.34K	USD	Point-in-time
Computers and software	`ComputerEquipmentAndSoftwareGross`	$798.26K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	70.21M	shares	Point-in-time
Computers and software	`ComputerEquipmentAndSoftwareGross`	$172.47K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$129.76K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$553.83K	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$3.28M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$700.74K	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$381.24K	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.54M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$319.50K	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`	$11.46M	USD	Point-in-time
Goodwill	`Goodwill`	$1.99M	USD	Point-in-time
Intangible assets, less accumulated amortization of $873,045 and $879,490	`FiniteLivedIntangibleAssetsNet`	$2.54M	USD	Point-in-time
Intangible assets, less accumulated amortization of $873,045 and $879,490	`FiniteLivedIntangibleAssetsNet`	$12.05M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$23.86K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$30.39K	USD	Point-in-time
Total assets	`Assets`	$11.95M	USD	Point-in-time
Total assets	`Assets`	$32.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$825.10K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$245.89K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$866.00K	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$219.12K	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$206.80K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$8.24K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$18.15K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$29.63K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.40M	USD	Point-in-time
Seesmart purchase price obligations	`OtherSundryLiabilitiesCurrent`	$3.24M	USD	Point-in-time
Seesmart notes payable obligations	`OtherLiabilitiesCurrent`	$3.42M	USD	Point-in-time
Current portion of deferred rent	`DeferredRentCreditCurrent`	$25.88K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.81M	USD	Point-in-time
Deferred revenue - noncurrent	`DeferredRevenueNoncurrent`	$57.64K	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`	$2.15M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.87M	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, 120,000,000 and 30,000,000 shares authorized, 70,213,480 and 16,452,738 issued and outstanding	`CommonStockValue`	$70.21K	USD	Point-in-time
Common stock, $.001 par value, 120,000,000 and 30,000,000 shares authorized, 70,213,480 and 16,452,738 issued and outstanding	`CommonStockValue`	$16.45K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$50.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$60.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-50.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-41.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$20.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.31M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.95M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.57M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$4.48M	USD	Annual
Revenues	`SalesRevenueNet`	$8.99M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$7.08M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$4.71M	USD	Annual
Gross (loss) profit	`GrossProfit`	$-223.82K	USD	Annual
Gross (loss) profit	`GrossProfit`	$1.91M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.98M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.24M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$554.75K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$833.88K	USD	Annual
Impairment expense	`GoodwillAndIntangibleAssetImpairment`	$407.37K	USD	Annual
Impairment expense	`GoodwillAndIntangibleAssetImpairment`	$3.40M	USD	Annual
Total operating expenses	`OperatingExpenses`	$7.22M	USD	Annual
Total operating expenses	`OperatingExpenses`	$9.19M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-9.42M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-5.31M	USD	Annual
Interest income	`InterestIncomeOther`	$203.00	USD	Annual
Interest income	`InterestIncomeOther`	$569.00	USD	Annual
Gain on debt restructuring	`GainsLossesOnRestructuringOfDebt`	$1.05M	USD	Annual
Interest expense	`InterestExpense`	$210.01K	USD	Annual
Interest expense	`InterestExpense`	$126.73K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$10.92K	USD	Annual
Total non-operating income (expense), net	`NonoperatingIncomeExpense`	$-115.24K	USD	Annual
Total non-operating income (expense), net	`NonoperatingIncomeExpense`	$838.50K	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-8.58M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-5.42M	USD	Annual
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$683.00	USD	Annual
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-44.16K	USD	Annual
Net loss	`NetIncomeLoss`	$-5.47M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.58M	USD	Annual
Accretion of preferred stock beneficial conversion feature	`AccretionOfPreferredStockBeneficialConversionFeature`	$5.20M	USD	Annual
Accrual of preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$-30.56K	USD	Annual
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-13.80M	USD	Annual
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.47M	USD	Annual
Loss from continuing operations attributable to common stockholders	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.33	USD	Annual
Loss from continuing operations attributable to common stockholders	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.63	USD	Annual
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	Annual
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	Annual
Net loss attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.63	USD	Annual
Net loss attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	Annual
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.07M	shares	Annual
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.41M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.47M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.58M	USD	Annual
Depreciation	`Depreciation`	$466.35K	USD	Annual
Depreciation	`Depreciation`	$227.66K	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$266.03K	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$287.84K	USD	Annual
Amortization of debt discount and debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$68.98K	USD	Annual
Amortization of debt discount and debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$89.34K	USD	Annual
Amortization of deferred rent	`AmortizationOfDeferredCharges`	$-80.13K	USD	Annual
Amortization of deferred rent	`AmortizationOfDeferredCharges`	$-25.88K	USD	Annual
Loss on sale of businesses	`GainLossOnSaleOfBusiness`	$-51.65K	USD	Annual
Impairment charges	`GoodwillAndIntangibleAssetImpairment`	$407.37K	USD	Annual
Impairment charges	`GoodwillAndIntangibleAssetImpairment`	$3.40M	USD	Annual
Gain on debt restructuring	`GainsLossesOnRestructuringOfDebt`	$1.05M	USD	Annual
Interest expense forgiven on debt restructuring	`InterestExpenseForgivenOnDebtRestructuring`	$140.67K	USD	Annual
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-3.40K	USD	Annual
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-6.06K	USD	Annual
Increase in inventory reserve and inventory write-downs	`InventoryWriteDown`	$619.62K	USD	Annual
Increase in inventory reserve and inventory write-downs	`InventoryWriteDown`	$624.62K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$44.98K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$301.04K	USD	Annual
Loss due to closure of contract manufacturer	`LossDueToClosureOfContractManufacturer`	$111.13K	USD	Annual
Decrease in trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-306.22K	USD	Annual
Decrease in trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-80.78K	USD	Annual
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$99.64K	USD	Annual
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$-1.13M	USD	Annual
Increase (decrease) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$169.62K	USD	Annual
Increase (decrease) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-61.72K	USD	Annual
Decrease in accounts payable, accrued liabilities and related party payable	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-198.99K	USD	Annual
Decrease in accounts payable, accrued liabilities and related party payable	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-1.36M	USD	Annual
Decrease in accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-68.89K	USD	Annual
Decrease in accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-6.61K	USD	Annual
Decrease in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-69.01K	USD	Annual
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-16.73K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$3.45M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.10M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.37M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.13M	USD	Annual
Acquisition of Seesmart, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$7.59M	USD	Annual
Patents, trademarks and other intangible assets costs	`PaymentsToAcquireIntangibleAssets`	$139.39K	USD	Annual
Patents, trademarks and other intangible assets costs	`PaymentsToAcquireIntangibleAssets`	$83.08K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.60K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$223.88K	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.50K	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.68K	USD	Annual
Proceeds from sale of businesses, net of transaction costs	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	$1.11M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$755.21K	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.69M	USD	Annual
Payment to extinguish convertible promissory notes	`RepaymentsOfNotesPayable`	$880.00K	USD	Annual
Costs related to issuance of common stock	`PaymentsOfStockIssuanceCosts`	$10.00K	USD	Annual
Net proceeds from exercise of employee stock options and warrants	`ProceedsFromEmployeeStockOptionsAndWarrantsExercisedNet`	$319.75K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$319.75K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.24M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.29M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.42M	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.31M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.43M	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`	$4.43M	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

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	70.21M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Beginning Balance	`StockholdersEquity`	$13.16M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$20.70M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$8.31M	USD	Point-in-time
Exercise of warrants	`StockIssuedDuringPeriodSharePurchaseWarrantsExercisedValue`	$319.75K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$301.04K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$44.98K	USD	Annual
Accrual of dividends on Series C convertible preferred stock	`DividendsAccruedOnPreferredStock`	$30.56K	USD	Annual
Issuance of common stock for Seesmart acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$4.29M	USD	Annual
Fees associated with issuances of common stock	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$10.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-5.47M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.58M	USD	Annual
Ending Balance (in shares)	`CommonStockSharesOutstanding`	70.21M	shares	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	16.45M	shares	Point-in-time
Ending Balance	`StockholdersEquity`	$13.16M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$20.70M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$8.31M	USD	Point-in-time

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