10-Q Filing

GENASYS INC. CIK: 924383 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-207575`
Period End Date	20130331
Filing Date	20130508
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	lrad-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 63 Cash Flow Statement 55

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$4.37K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$3.97K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.87M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable, less allowance of $3,972 and $4,372 for doubtful accounts	`AccountsReceivableNet`	$2.35M	USD	Point-in-time
Accounts receivable, less allowance of $3,972 and $4,372 for doubtful accounts	`AccountsReceivableNet`	$5.52M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Inventories, net	`InventoryNet`	$4.87M	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.11M	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssets`	$399.25K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssets`	$441.82K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$22.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.40M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$212.86K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$239.89K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.37M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$158.46K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$144.43K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	32.37M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	32.40M	shares	Point-in-time
Prepaid expenses and other - noncurrent	`PrepaidExpenseNoncurrent`	$1.01M	USD	Point-in-time
Prepaid expenses and other - noncurrent	`PrepaidExpenseNoncurrent`	$1.10M	USD	Point-in-time
Total assets	`Assets`	$24.41M	USD	Point-in-time
Total assets	`Assets`	$24.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$995.72K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.24M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$880.08K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$623.74K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.12M	USD	Point-in-time
Other liabilities - noncurrent	`OtherLiabilitiesNoncurrent`	$363.82K	USD	Point-in-time
Other liabilities - noncurrent	`OtherLiabilitiesNoncurrent`	$403.70K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.52M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.98M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 32,399,199 and 32,374,499 shares issued and outstanding, respectively	`CommonStockValue`	$324.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 32,399,199 and 32,374,499 shares issued and outstanding, respectively	`CommonStockValue`	$324.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$86.77M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$86.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-63.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-64.50M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.42M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.41M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.79M	USD	Point-in-time

Income Statement 63 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$2.34M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$5.89M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$5.65M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$2.89M	USD	1 Quarter
Contract and other	`ContractAndOther`	$520.11K	USD	2 Qtrs
Contract and other	`ContractAndOther`	$126.29K	USD	2 Qtrs
Contract and other	`ContractAndOther`	$302.34K	USD	1 Quarter
Contract and other	`ContractAndOther`	$59.71K	USD	1 Quarter
Total revenues	`Revenues`	$3.19M	USD	1 Quarter
Total revenues	`Revenues`	$6.01M	USD	2 Qtrs
Total revenues	`Revenues`	$2.40M	USD	1 Quarter
Total revenues	`Revenues`	$6.17M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$3.32M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$1.83M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.08M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$2.95M	USD	2 Qtrs
Gross profit	`GrossProfit`	$3.07M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.36M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.85M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.37M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.54M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.25M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.19M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$429.39K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$878.67K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$456.75K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$810.71K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.83M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.42M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.62M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.06M	USD	2 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$-305.68K	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-464.94K	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-573.51K	USD	2 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$5.04K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$15.36K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$6.78K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$7.16K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$19.72K	USD	2 Qtrs
(Loss) income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-457.78K	USD	1 Quarter
(Loss) income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-558.15K	USD	2 Qtrs
(Loss) income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$24.76K	USD	2 Qtrs
(Loss) income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-298.90K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-7.01K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$2.70K	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.60K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.60K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-559.75K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-291.89K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$22.06K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-459.38K	USD	1 Quarter
Net (loss) income per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Net (loss) income per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net (loss) income per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	32.37M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	32.40M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	32.40M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	32.37M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.40M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.01M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.40M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.37M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-559.75K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-291.89K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$22.06K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-459.38K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$45.01K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$67.52K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-400.00	USD	2 Qtrs
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$-6.47K	USD	2 Qtrs
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$104.32K	USD	1 Quarter
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$40.01K	USD	2 Qtrs
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$-15.91K	USD	1 Quarter
Inventory obsolescence	`InventoryWriteDown`	$-98.69K	USD	2 Qtrs
Inventory obsolescence	`InventoryWriteDown`	$-213.52K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$390.30K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$277.47K	USD	2 Qtrs
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	$5.14K	USD	2 Qtrs
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	$11.20K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.17M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.96M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$352.25K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.54M	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$-42.57K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$-72.53K	USD	2 Qtrs
Prepaid expenses - noncurrent	`IncreaseDecreaseInPrepaidExpense`	$-22.98K	USD	2 Qtrs
Prepaid expenses - noncurrent	`IncreaseDecreaseInPrepaidExpense`	$-93.75K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$243.13K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-602.70K	USD	2 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$-5.78K	USD	2 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$-15.01K	USD	2 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$-1.50K	USD	1 Quarter
Warranty settlements	`ProductWarrantyAccrualPayments`	$-1.92K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.27M	USD	2 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$295.52K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.99M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$37.18K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.34K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$82.92K	USD	2 Qtrs
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$832.00	USD	2 Qtrs
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$2.73K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-85.66K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.17K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$19.23K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$19.23K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$14.01K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.92M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.86M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.78M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.88M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.87M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.86M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.78M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.88M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.87M	USD	Point-in-time
Cash (refunded) paid for taxes	`IncomeTaxesPaid`	$-38.72K	USD	2 Qtrs
Cash (refunded) paid for taxes	`IncomeTaxesPaid`	$60.02K	USD	2 Qtrs

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