10-Q Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-220009`
Period End Date	20130331
Filing Date	20130515
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	rvlt-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 44 Cash Flow Statement 51 Stockholders Equity 16

Balance Sheet 77 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`	$56.93K	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$873.04K	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $56,931	`AccountsReceivableNetCurrent`	$1.31M	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $56,931	`AccountsReceivableNetCurrent`	$5.44M	USD	Point-in-time
Inventories	`InventoryNet`	$2.58M	USD	Point-in-time
Inventories	`InventoryNet`	$2.41M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$1.04M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$390.98K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.85M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$705.02K	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$700.74K	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$419.59K	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$381.24K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$285.43K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$319.50K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	600,000.00	shares	Point-in-time
Goodwill	`Goodwill`	$1.99M	USD	Point-in-time
Goodwill	`Goodwill`	$10.16M	USD	Point-in-time
Goodwill	`Goodwill`	$11.46M	USD	Point-in-time
Intangible assets, less accumulated amortization of $1,823,120 and $873,045	`FiniteLivedIntangibleAssetsNet`	$12.70M	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
Intangible assets, less accumulated amortization of $1,823,120 and $873,045	`FiniteLivedIntangibleAssetsNet`	$12.05M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$30.39K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$30.39K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	76.35M	shares	Point-in-time
Total assets	`Assets`	$38.03M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	70.21M	shares	Point-in-time
Total assets	`Assets`	$32.57M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	76.35M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	70.21M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.63M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$866.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.83M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$219.12K	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$693.07K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$51.34K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$8.24K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$29.63K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$33.52K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.40M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$153.70K	USD	Point-in-time
Seesmart purchase price obligations	`OtherSundryLiabilitiesCurrent`	$3.24M	USD	Point-in-time
Seesmart purchase price obligations	`OtherSundryLiabilitiesCurrent`	$1.37M	USD	Point-in-time
Seesmart notes payable obligations	`OtherLiabilitiesCurrent`	$3.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.81M	USD	Point-in-time
Deferred revenue - noncurrent	`DeferredRevenueNoncurrent`	$87.35K	USD	Point-in-time
Deferred revenue - noncurrent	`DeferredRevenueNoncurrent`	$57.64K	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$280.56K	USD	Point-in-time
Embedded conversion liability	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability`	$4.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.95M	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 shares authorized, 76,351,391 and 70,213,480 issued and outstanding at March 31, 2013 and December 31, 2012, respectively	`CommonStockValue`	$76.35K	USD	Point-in-time
Common stock, $.001 par value, 120,000,000 shares authorized, 76,351,391 and 70,213,480 issued and outstanding at March 31, 2013 and December 31, 2012, respectively	`CommonStockValue`	$70.21K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$60.04M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$64.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-50.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.61M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$20.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.55M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$38.03M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$6.31M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$1.15M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.19M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.65M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$2.66M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-39.47K	USD	1 Quarter
Severance and transition costs	`SeveranceCosts`	$805.30K	USD	1 Quarter
Acquisition related expense	`OperatingAndAcquisitionExpenses`	$1.05M	USD	1 Quarter
Amortization and stock based compensation	`AmortizationOfStockBasedCompensation`	$1.14M	USD	1 Quarter
Amortization and stock based compensation	`AmortizationOfStockBasedCompensation`	$89.86K	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$1.40M	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$2.09M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$197.17K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$459.44K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.68M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.72M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.89M	USD	1 Quarter
Change in fair value of embedded derivative	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	$-3.17M	USD	1 Quarter
Gain on bargain purchase of business	`GainOnPurchaseOfBusiness`	$742.75K	USD	1 Quarter
Gain on bargain purchase of business	`GainOnPurchaseOfBusiness`	$742.75K	USD	Point-in-time
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-46.83K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$31.00	USD	1 Quarter
Total non-operating expense, net	`NonoperatingIncomeExpense`	$-46.83K	USD	1 Quarter
Total non-operating expense, net	`NonoperatingIncomeExpense`	$-2.43M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.77M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-5.32M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$683.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.32M	USD	1 Quarter
Accrual of preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$-277.08K	USD	1 Quarter
Accretion to redemption value of Series E preferred stock	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$-2.17M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.77M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.77M	USD	1 Quarter
Loss from continuing operations attributable to common stockholders	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.11	USD	1 Quarter
Loss from continuing operations attributable to common stockholders	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.11	USD	1 Quarter
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Net loss attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter
Net loss attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	71.66M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.45M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.32M	USD	1 Quarter
Depreciation	`Depreciation`	$38.35K	USD	1 Quarter
Depreciation	`Depreciation`	$123.28K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$73.42K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$950.08K	USD	1 Quarter
Amortization of debt discount and debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$22.77K	USD	1 Quarter
Amortization of deferred rent	`AmortizationOfDeferredCharges`	$-20.96K	USD	1 Quarter
Gain on bargain purchase of business	`GainOnPurchaseOfBusiness`	$742.75K	USD	1 Quarter
Gain on bargain purchase of business	`GainOnPurchaseOfBusiness`	$742.75K	USD	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	$26.24K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$192.09K	USD	1 Quarter
Change in fair value of embedded derivative	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	$-3.17M	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-6.06K	USD	1 Quarter
Trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-39.04K	USD	1 Quarter
Trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$4.13M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-164.96K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-494.43K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-4.78K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$649.39K	USD	1 Quarter
Accounts payable, accrued liabilities and related party payable	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$2.06M	USD	1 Quarter
Accounts payable, accrued liabilities and related party payable	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-33.22K	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-46.03K	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$473.95K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-1.24M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$33.60K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$24.00K	USD	1 Quarter
Total adjustments	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-713.80K	USD	1 Quarter
Total adjustments	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-308.93K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.13M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.01M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.06M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.60K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.28K	USD	1 Quarter
Patent and trademark costs	`PaymentsToAcquireIntangibleAssets`	$30.64K	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.68K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.55K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.25M	USD	1 Quarter
Proceeds from issuance of Series E convertible preferred stock, net of issuance costs	`ProceedsFromIssuanceOfConvertiblePreferredStockNetOfTransactionCosts`	$4.97M	USD	1 Quarter
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$4.82M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.79M	USD	1 Quarter
Net increase (decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.10M	USD	1 Quarter
Net increase (decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.53M	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.96M	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`	$1.92M	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`	$5.96M	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`	$1.92M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	76.35M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	70.21M	shares	Point-in-time
Beginning Balance	`StockholdersEquity`	$20.70M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$19.55M	USD	Point-in-time
Accrual of dividends on convertible preferred stock	`DividendsAccruedOnPreferredStock`	$277.08K	USD	1 Quarter
Issuance of stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$4.88M	USD	1 Quarter
Issuance of common stock for services (in shares)	`StockIssuedDuringPeriodSharesIssuedForServices`	42,735.00	shares	1 Quarter
Issuance of common stock for acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$1.18M	USD	1 Quarter
Fees associated with issuances of common stock	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$55.00K	USD	1 Quarter
Common stock to be issued	`AdjustmentsToAdditionalPaidInCapitalOther`	$356.25K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.32M	USD	1 Quarter
Ending Balance (in shares)	`CommonStockSharesOutstanding`	76.35M	shares	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	70.21M	shares	Point-in-time
Ending Balance	`StockholdersEquity`	$20.70M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$19.55M	USD	Point-in-time

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