10-Q Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-180794`
Period End Date	20150331
Filing Date	20150511
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	rvlt-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 33 Cash Flow Statement 53 Stockholders Equity 15

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$108.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$53.00K	USD	Point-in-time
Inventories, reserve	`InventoryValuationReserves`	$1.47M	USD	Point-in-time
Inventories, reserve	`InventoryValuationReserves`	$1.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.03M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$9.77M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$8.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.64M	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
Trade accounts receivable, less allowance for doubtful accounts of $53 and $108	`AccountsReceivableNetCurrent`	$20.86M	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $53 and $108	`AccountsReceivableNetCurrent`	$23.78M	USD	Point-in-time
Inventories, less reserves of $1,473 and $1,669	`InventoryNet`	$18.36M	USD	Point-in-time
Inventories, less reserves of $1,473 and $1,669	`InventoryNet`	$13.67M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	135.26M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	135.26M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.16M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.36M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	129.71M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$44.22M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	129.71M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$46.64M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$2.24M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$2.40M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.03M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.17M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$1.23M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$1.21M	USD	Point-in-time
Goodwill	`Goodwill`	$42.99M	USD	Point-in-time
Goodwill	`Goodwill`	$42.99M	USD	Point-in-time
Intangible assets, less accumulated amortization of $9,771 and $8,756	`FiniteLivedIntangibleAssetsNet`	$33.89M	USD	Point-in-time
Intangible assets, less accumulated amortization of $9,771 and $8,756	`FiniteLivedIntangibleAssetsNet`	$34.78M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$914.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$864.00K	USD	Point-in-time
Total assets	`Assets`	$123.20M	USD	Point-in-time
Total assets	`Assets`	$126.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.34M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.47M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.16M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.01M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.28M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$975.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.26M	USD	Point-in-time
Purchase price obligations - current	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilitiesCurrent`	$6.27M	USD	Point-in-time
Purchase price obligations - current	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilitiesCurrent`	$1.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.82M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$8.76M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$12.23M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesNoncurrent`	$2.56M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesNoncurrent`	$2.56M	USD	Point-in-time
Note payable	`LongTermNotesPayable`	$2.70M	USD	Point-in-time
Note payable	`LongTermNotesPayable`	$2.82M	USD	Point-in-time
Purchase price obligation - noncurrent	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilities`	$6.09M	USD	Point-in-time
Purchase price obligation - noncurrent	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilities`	$6.09M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.15M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.03M	USD	Point-in-time
Total liabilities	`Liabilities`	$42.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$49.23M	USD	Point-in-time
Common stock, $.001 par value, 150,000 shares authorized, 135,260 and 129,714 issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$130.00K	USD	Point-in-time
Common stock, $.001 par value, 150,000 shares authorized, 135,260 and 129,714 issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$135.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$154.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$149.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-74.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-72.29M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$77.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$80.78M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.46M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$123.20M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$126.54M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$20.33M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$4.95M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$13.16M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.29M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.17M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.66M	USD	1 Quarter
Acquisition, severance and transition costs	`SeveranceCosts1`	$445.00K	USD	1 Quarter
Acquisition, severance and transition costs	`SeveranceCosts1`	$299.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$554.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$1.03M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$534.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$132.00K	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$6.47M	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$3.44M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$504.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$685.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.03M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.07M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.85M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.41M	USD	1 Quarter
Interest and other expense	`InterestExpenseOther`	$95.00K	USD	1 Quarter
Interest and other expense	`InterestExpenseOther`	$192.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.18M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Accrual of preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$-400.00K	USD	1 Quarter
Accretion to redemption value of Series E and F preferred stock	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$-7.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.91M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.05M	USD	1 Quarter
Basic and diluted loss per common share attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted loss per common share attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	81.36M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	137.67M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.18M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Depreciation	`Depreciation`	$98.00K	USD	1 Quarter
Depreciation	`Depreciation`	$143.00K	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangibleAssetsAndOtherAssets`	$456.00K	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangibleAssetsAndOtherAssets`	$890.00K	USD	1 Quarter
Reacquired common stock issued for acquisition	`ReacquiredCommonStockIssuedForAcquisition`	$547.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$534.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$132.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-102.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$406.00K	USD	1 Quarter
Decrease in trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-2.92M	USD	1 Quarter
Decrease in trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-482.00K	USD	1 Quarter
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$4.60M	USD	1 Quarter
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$-106.00K	USD	1 Quarter
(Increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$165.00K	USD	1 Quarter
(Increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$142.00K	USD	1 Quarter
(Decrease) in accounts payable, accrued and other liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-1.47M	USD	1 Quarter
(Decrease) in accounts payable, accrued and other liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-4.22M	USD	1 Quarter
(Decrease) increase in accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-527.00K	USD	1 Quarter
(Decrease) increase in accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$30.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.20M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.94M	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$100.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$89.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$160.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-260.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-89.00K	USD	1 Quarter
Proceeds from issuances of preferred stock, net of issuance costs	`ProceedsFromIssuanceOfConvertiblePreferredStockNetOfTransactionCosts`	$-32.00K	USD	1 Quarter
Fees pertaining to issuance of common stock	`PaymentsOfStockIssuanceCosts`	$287.00K	USD	1 Quarter
(Repayments) of short-term borrowings and notes payable	`ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable`	$-120.00K	USD	1 Quarter
(Repayments) of short-term borrowings and notes payable	`ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable`	$-185.00K	USD	1 Quarter
Proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$21.75M	USD	1 Quarter
Repayments of revolving credit facility	`RepaymentsOfLinesOfCredit`	$18.28M	USD	1 Quarter
Proceeds from related party note payable	`ProceedsFromRelatedPartyDebt`	$3.50M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.06M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.28M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-749.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.40M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.03M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	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`	$1.64M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	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`	$1.64M	USD	Point-in-time
Cash paid during period for interest	`InterestPaid`	$59.00K	USD	1 Quarter
Cash paid during period for interest	`InterestPaid`	$37.00K	USD	1 Quarter
Accrual of dividends on convertible preferred stock	`DividendsPayableCurrentAndNoncurrent`	$400.00K	USD	Point-in-time
Issuance of common stock for contingent consideration	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$5.84M	USD	1 Quarter
Deferred consideration for acquisition	`DeferredConsiderationOnBusinessAcquisition`	$500.00K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$77.32M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$80.78M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$25.46M	USD	Point-in-time
Accrual of dividends on convertible preferred stock	`DividendsAccruedOnPreferredStock`	$1.45M	USD	Annual
Fees associated with issuance of common stock	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$62.00K	USD	1 Quarter
Issuance of stock, net of issuance costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	8.00M	shares	Point-in-time
Issuance of stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$8.61M	USD	Annual
Forfeiture of restricted stock , value	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	-	USD	Annual
Exchange of preferred stock for common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$25.88M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.18M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$77.32M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$80.78M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$25.46M	USD	Point-in-time

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