10-Q Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-194812`
Period End Date	20140331
Filing Date	20140512
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	rvlt-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 42 Cash Flow Statement 56 Stockholders Equity 20

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$235.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$210.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$57.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$57.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.01M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$4.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.43M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $235 and $210	`AccountsReceivableNetCurrent`	$3.87M	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $235 and $210	`AccountsReceivableNetCurrent`	$4.35M	USD	Point-in-time
Inventories	`InventoryNet`	$4.86M	USD	Point-in-time
Inventories	`InventoryNet`	$4.97M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$878.00K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$743.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.82M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.62M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$1.40M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$1.31M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$551.00K	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$649.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$757.00K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$748.00K	USD	Point-in-time
Goodwill	`Goodwill`	$21.52M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	600,000.00	shares	Point-in-time
Goodwill	`Goodwill`	$21.52M	USD	Point-in-time
Intangible assets, less accumulated amortization of $4,185 and $3,732	`FiniteLivedIntangibleAssetsNet`	$17.87M	USD	Point-in-time
Intangible assets, less accumulated amortization of $4,185 and $3,732	`FiniteLivedIntangibleAssetsNet`	$17.41M	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
Other assets, net	`OtherAssetsNoncurrent`	$292.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$291.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Total assets	`Assets`	$52.26M	USD	Point-in-time
Total assets	`Assets`	$50.60M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	82.09M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	82.63M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	82.63M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	82.09M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.45M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.49M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.55M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.11M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$960.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$995.00K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$239.00K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$132.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$675.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$860.00K	USD	Point-in-time
Purchase price obligations-current	`OtherSundryLiabilitiesCurrent`	$1.93M	USD	Point-in-time
Purchase price obligations-current	`OtherSundryLiabilitiesCurrent`	$1.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.51M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.62M	USD	Point-in-time
Purchase price obligation-noncurrent	`OtherSundryLiabilitiesNoncurrent`	$960.00K	USD	Point-in-time
Purchase price obligation-noncurrent	`OtherSundryLiabilitiesNoncurrent`	$858.00K	USD	Point-in-time
Deferred revenue-noncurrent	`DeferredRevenueNoncurrent`	$190.00K	USD	Point-in-time
Deferred revenue-noncurrent	`DeferredRevenueNoncurrent`	$130.00K	USD	Point-in-time
Related party note payable	`NotesPayableRelatedPartiesNoncurrent`	$3.50M	USD	Point-in-time
Dividends payable	`DividendsPayableNoncurrent`	$1.29M	USD	Point-in-time
Dividends payable	`DividendsPayableNoncurrent`	$1.04M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$63.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$82.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$17.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.81M	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, 150,000 shares authorized, 82,634 and 82,095 issued and outstanding at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$82.00K	USD	Point-in-time
Common stock, $.001 par value, 150,000 shares authorized, 82,634 and 82,095 issued and outstanding at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$83.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$82.57M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$82.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-70.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.48M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$20.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.04M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$52.26M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$50.60M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$6.31M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$4.95M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.29M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.65M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.66M	USD	1 Quarter
Severance and transition costs	`SeveranceCosts1`	$805.00K	USD	1 Quarter
Severance and transition costs	`SeveranceCosts1`	$81.00K	USD	1 Quarter
Acquisition related expenses	`OperatingAndAcquisitionExpenses`	$1.05M	USD	1 Quarter
Acquisition related expenses	`OperatingAndAcquisitionExpenses`	$364.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$988.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$554.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$132.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$192.00K	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$3.44M	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$2.05M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$459.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$504.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.07M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.55M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.41M	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	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$742.00K	USD	1 Quarter
Gain on bargain purchase of business	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$743.00K	USD	Point-in-time
Interest expense	`InterestExpense`	$87.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-8.00K	USD	1 Quarter
Total non-operating income (expense), net	`NonoperatingIncomeExpense`	$-95.00K	USD	1 Quarter
Total non-operating income (expense), net	`NonoperatingIncomeExpense`	$-2.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.82M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.32M	USD	1 Quarter
Accrual of preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$400.00K	USD	1 Quarter
Accrual of preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$277.00K	USD	1 Quarter
Accretion to redemption value of Series E and F preferred stock	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$7.00K	USD	1 Quarter
Accretion to redemption value of Series E and F 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`	$-3.91M	USD	1 Quarter
Basic and diluted loss per common share attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted loss per common share attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	71,659.00	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	81,365.00	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.82M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.32M	USD	1 Quarter
Depreciation	`Depreciation`	$38.00K	USD	1 Quarter
Depreciation	`Depreciation`	$98.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$456.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$950.00K	USD	1 Quarter
Gain on purchase of business	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$742.00K	USD	1 Quarter
Gain on purchase of business	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$743.00K	USD	Point-in-time
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-102.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$132.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$192.00K	USD	1 Quarter
Change in fair value of embedded derivative	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	$-3.17M	USD	1 Quarter
Trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$4.13M	USD	1 Quarter
Trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-482.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-106.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-165.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$649.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$136.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.06M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.72M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$474.00K	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$30.00K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-1.24M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$107.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$19.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$95.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$33.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-436.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$309.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.01M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.94M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$89.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-89.00K	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
Proceeds from issuance of common stock , net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$-32.00K	USD	1 Quarter
Proceeds from issuance of common stock , net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$5.00M	USD	Annual
Proceeds from related party note payable	`ProceedsFromRelatedPartyDebt`	$3.50M	USD	1 Quarter
Short term borrowings, net	`ProceedsFromRepaymentsOfShortTermDebt`	$-185.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.28M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.79M	USD	1 Quarter
Net increase (decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-749.00K	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`	$1.01M	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`	$1.76M	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`	$1.01M	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`	$1.76M	USD	Point-in-time
Interest paid	`InterestPaid`	$37.00K	USD	1 Quarter
Accrual of dividends on convertible preferred stock	`DividendsPayableCurrentAndNoncurrent`	$400.00K	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$25.48M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$20.70M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$22.04M	USD	Point-in-time
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	1 Quarter
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	1 Quarter
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	108,146.00	shares	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$265.00K	USD	Annual
Accrual of dividends on convertible preferred stock	`DividendsAccruedOnPreferredStock`	$1.36M	USD	Annual
Accrual of dividends on convertible preferred stock	`DividendsAccruedOnPreferredStock`	$400.00K	USD	1 Quarter
Embedded Conversion Liability	`EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity`	$8.63M	USD	Annual
Issuance of stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$5.07M	USD	Annual
Fees associated with issuances of common stock	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$32.00K	USD	1 Quarter
Fees associated with issuances of common stock	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$119.00K	USD	Annual
Common stock to be issued	`AdjustmentsToAdditionalPaidInCapitalOther`	$1.11M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.82M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.32M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$25.48M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$20.70M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$22.04M	USD	Point-in-time

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