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10-Q Filing

PROFIRE ENERGY INC CIK: 1289636 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001289636-21-000013
Period End Date 20210331
Filing Date 20210505
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance pfie-20210331_htm.xml
Filing Contents
Balance Sheet 76 line items
Line Item Tag Value Unit Period
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 10.00M shares Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 10.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $9.15M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $10.48M USD Point-in-time
Preferred stock, shares issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Short-term investments MarketableSecuritiesCurrent $2.29M USD Point-in-time
Short-term investments MarketableSecuritiesCurrent $2.39M USD Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $2.77M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $3.72M USD Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Inventories, net (note 3) InventoryNet $8.10M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Inventories, net (note 3) InventoryNet $8.41M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Prepaid expenses and other current assets (note 4) PrepaidExpenseCurrent $823.90K USD Point-in-time
Prepaid expenses and other current assets (note 4) PrepaidExpenseCurrent $1.68M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 100.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 100.00M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 51.38M shares Point-in-time
Income tax receivable IncomeTaxReceivable $580.75K USD Point-in-time
Income tax receivable IncomeTaxReceivable $486.15K USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 51.43M shares Point-in-time
Total Current Assets AssetsCurrent $25.84M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 47.97M shares Point-in-time
Total Current Assets AssetsCurrent $25.05M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 48.02M shares Point-in-time
Long-term investments MarketableSecuritiesNoncurrent $6.59M USD Point-in-time
Long-term investments MarketableSecuritiesNoncurrent $6.06M USD Point-in-time
Financing right-of-use asset FinanceLeaseRightOfUseAsset $38.97K USD Point-in-time
Financing right-of-use asset FinanceLeaseRightOfUseAsset $50.09K USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $11.93M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $12.02M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.72M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.77M USD Point-in-time
Goodwill Goodwill $2.58M USD Point-in-time
Goodwill Goodwill $2.58M USD Point-in-time
Total Long-Term Assets AssetsNoncurrent $22.49M USD Point-in-time
Total Long-Term Assets AssetsNoncurrent $22.85M USD Point-in-time
TOTAL ASSETS Assets $47.90M USD Point-in-time
TOTAL ASSETS Assets $48.32M USD Point-in-time
Accounts payable AccountsPayableCurrent $975.75K USD Point-in-time
Accounts payable AccountsPayableCurrent $1.18M USD Point-in-time
Accrued liabilities (note 5) AccruedLiabilitiesCurrent $1.20M USD Point-in-time
Accrued liabilities (note 5) AccruedLiabilitiesCurrent $1.36M USD Point-in-time
Current financing lease liability (note 6) FinanceLeaseLiabilityCurrent $39.45K USD Point-in-time
Current financing lease liability (note 6) FinanceLeaseLiabilityCurrent $36.41K USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $2.42M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $2.37M USD Point-in-time
Net deferred income tax liability DeferredIncomeTaxLiabilitiesNet $522.87K USD Point-in-time
Net deferred income tax liability DeferredIncomeTaxLiabilitiesNet $522.16K USD Point-in-time
Long-term financing lease liability (note 6) FinanceLeaseLiabilityNoncurrent $12.67K USD Point-in-time
Long-term financing lease liability (note 6) FinanceLeaseLiabilityNoncurrent $4.35K USD Point-in-time
TOTAL LIABILITIES Liabilities $2.95M USD Point-in-time
TOTAL LIABILITIES Liabilities $2.90M USD Point-in-time
Preferred stock: $0.001 par value, 10,000,000 shares authorized: no shares issued or outstanding PreferredStockValue - USD Point-in-time
Preferred stock: $0.001 par value, 10,000,000 shares authorized: no shares issued or outstanding PreferredStockValue - USD Point-in-time
Common stock: $0.001 par value, 100,000,000 shares authorized: 51,434,074 issued and 48,021,696 outstanding at March 31, 2021, and 51,384,961 issued and 47,972,583 outstanding at December 31, 2020 CommonStockValue $51.38K USD Point-in-time
Common stock: $0.001 par value, 100,000,000 shares authorized: 51,434,074 issued and 48,021,696 outstanding at March 31, 2021, and 51,384,961 issued and 47,972,583 outstanding at December 31, 2020 CommonStockValue $51.43K USD Point-in-time
Treasury stock, at cost TreasuryStockValue $5.35M USD Point-in-time
Treasury stock, at cost TreasuryStockValue $5.35M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $30.29M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $30.39M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.02M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.15M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $21.93M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $22.53M USD Point-in-time
TOTAL STOCKHOLDERS' EQUITY StockholdersEquity $45.44M USD Point-in-time
TOTAL STOCKHOLDERS' EQUITY StockholdersEquity $45.00M USD Point-in-time
TOTAL STOCKHOLDERS' EQUITY StockholdersEquity $46.57M USD Point-in-time
TOTAL STOCKHOLDERS' EQUITY StockholdersEquity $45.37M USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $48.32M USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $47.90M USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Total Revenues RevenueFromContractWithCustomerExcludingAssessedTax $5.09M USD 1 Quarter
Total Revenues RevenueFromContractWithCustomerExcludingAssessedTax $7.45M USD 1 Quarter
Total Cost of Goods Sold CostOfGoodsAndServicesSold $2.92M USD 1 Quarter
Total Cost of Goods Sold CostOfGoodsAndServicesSold $4.28M USD 1 Quarter
GROSS PROFIT GrossProfit $3.16M USD 1 Quarter
GROSS PROFIT GrossProfit $2.17M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $2.55M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $3.27M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $256.89K USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $409.73K USD 1 Quarter
Depreciation and amortization expense DepreciationNonproduction $167.49K USD 1 Quarter
Depreciation and amortization expense DepreciationNonproduction $147.47K USD 1 Quarter
Total Operating Expenses OperatingExpenses $2.98M USD 1 Quarter
Total Operating Expenses OperatingExpenses $3.83M USD 1 Quarter
LOSS FROM OPERATIONS OperatingIncomeLoss $-804.23K USD 1 Quarter
LOSS FROM OPERATIONS OperatingIncomeLoss $-665.06K USD 1 Quarter
Gain on sale of fixed assets DisposalGroupNotDiscontinuedOperationGainLossonDisposalAfterForeignCurrencyTranslation - USD 1 Quarter
Gain on sale of fixed assets DisposalGroupNotDiscontinuedOperationGainLossonDisposalAfterForeignCurrencyTranslation $73.90K USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $-97.00 USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $347.00 USD 1 Quarter
Interest income InvestmentIncomeInterest $21.06K USD 1 Quarter
Interest income InvestmentIncomeInterest $74.39K USD 1 Quarter
Total Other Income NonoperatingIncomeExpense $94.87K USD 1 Quarter
Total Other Income NonoperatingIncomeExpense $74.74K USD 1 Quarter
LOSS BEFORE INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-590.32K USD 1 Quarter
LOSS BEFORE INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-709.36K USD 1 Quarter
INCOME TAX BENEFIT IncomeTaxExpenseBenefit $-225.06K USD 1 Quarter
INCOME TAX BENEFIT IncomeTaxExpenseBenefit $-107.86K USD 1 Quarter
NET LOSS NetIncomeLoss $-601.50K USD 1 Quarter
NET LOSS NetIncomeLoss $-365.26K USD 1 Quarter
Foreign currency translation gain (loss) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-945.42K USD 1 Quarter
Foreign currency translation gain (loss) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $139.61K USD 1 Quarter
Unrealized losses on investments UnrealizedGainLossOnInvestments $-157.35K USD 1 Quarter
Unrealized losses on investments UnrealizedGainLossOnInvestments $-7.97K USD 1 Quarter
Total Other Comprehensive Income (Loss) OtherComprehensiveIncomeLossNetOfTax $-1.10M USD 1 Quarter
Total Other Comprehensive Income (Loss) OtherComprehensiveIncomeLossNetOfTax $131.63K USD 1 Quarter
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-1.47M USD 1 Quarter
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-469.87K USD 1 Quarter
BASIC LOSS PER SHARE (in dollars per share) EarningsPerShareBasic $-0.01 USD 1 Quarter
BASIC LOSS PER SHARE (in dollars per share) EarningsPerShareBasic $-0.01 USD 1 Quarter
FULLY DILUTED LOSS PER SHARE (in dollars per share) EarningsPerShareDiluted $-0.01 USD 1 Quarter
FULLY DILUTED LOSS PER SHARE (in dollars per share) EarningsPerShareDiluted $-0.01 USD 1 Quarter
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) WeightedAverageNumberOfSharesOutstandingBasic 47.49M shares 1 Quarter
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) WeightedAverageNumberOfSharesOutstandingBasic 47.99M shares 1 Quarter
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 47.99M shares 1 Quarter
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 47.49M shares 1 Quarter
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-601.50K USD 1 Quarter
Net loss NetIncomeLoss $-365.26K USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $293.62K USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $259.80K USD 1 Quarter
(Gain) Loss on sale of fixed assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
(Gain) Loss on sale of fixed assets GainLossOnDispositionOfAssets1 $73.90K USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $133.80K USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $-3.08K USD 1 Quarter
Stock awards issued for services IssuanceOfStockAndWarrantsForServicesOrClaims $66.35K USD 1 Quarter
Stock awards issued for services IssuanceOfStockAndWarrantsForServicesOrClaims $125.04K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-1.31M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-974.60K USD 1 Quarter
Income taxes receivable/payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $-94.60K USD 1 Quarter
Income taxes receivable/payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $107.56K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-537.67K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-342.98K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidExpense $-168.55K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidExpense $-906.46K USD 1 Quarter
Deferred tax asset/liability IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability $-707.00 USD 1 Quarter
Deferred tax asset/liability IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability $-114.56K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-1.84M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-48.24K USD 1 Quarter
Net Cash Provided by Operating Activities NetCashProvidedByUsedInOperatingActivities $1.82M USD 1 Quarter
Net Cash Provided by Operating Activities NetCashProvidedByUsedInOperatingActivities $271.08K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $27.78K USD 1 Quarter
Sale (purchase) of investments PaymentsForProceedsFromInvestments $438.83K USD 1 Quarter
Sale (purchase) of investments PaymentsForProceedsFromInvestments $-387.33K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $57.83K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $525.38K USD 1 Quarter
Net Cash Used in Investing Activities NetCashProvidedByUsedInInvestingActivities $-138.06K USD 1 Quarter
Net Cash Used in Investing Activities NetCashProvidedByUsedInInvestingActivities $-468.87K USD 1 Quarter
Value of equity awards surrendered by employees for tax liability ValueOfEquityAwardsSurrenderedByEmployeesForTaxLiability $-26.63K USD 1 Quarter
Value of equity awards surrendered by employees for tax liability ValueOfEquityAwardsSurrenderedByEmployeesForTaxLiability $-148.88K USD 1 Quarter
Cash received in exercise of stock options ProceedsFromStockOptionsExercised $2.02K USD 1 Quarter
Cash received in exercise of stock options ProceedsFromStockOptionsExercised - USD 1 Quarter
Principal paid towards lease liability FinanceLeasePrincipalPayments $11.23K USD 1 Quarter
Principal paid towards lease liability FinanceLeasePrincipalPayments $19.09K USD 1 Quarter
Net Cash Used in Financing Activities NetCashProvidedByUsedInFinancingActivities $-37.86K USD 1 Quarter
Net Cash Used in Financing Activities NetCashProvidedByUsedInFinancingActivities $-165.95K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $13.18K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-95.60K USD 1 Quarter
NET CHANGE IN CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-128.53K USD 1 Quarter
NET CHANGE IN CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.33M USD 1 Quarter
CASH AT BEGINNING OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.23M USD Point-in-time
CASH AT BEGINNING OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.36M USD Point-in-time
CASH AT BEGINNING OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $9.15M USD Point-in-time
CASH AT BEGINNING OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $10.48M USD Point-in-time
CASH AT END OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.23M USD Point-in-time
CASH AT END OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.36M USD Point-in-time
CASH AT END OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $9.15M USD Point-in-time
CASH AT END OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $10.48M USD Point-in-time
Interest InterestPaidNet $872.00 USD 1 Quarter
Interest InterestPaidNet $1.94K USD 1 Quarter
Income taxes IncomeTaxesPaid - USD 1 Quarter
Income taxes IncomeTaxesPaid - USD 1 Quarter
Common stock issued in settlement of accrued bonuses NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1 - USD 1 Quarter
Common stock issued in settlement of accrued bonuses NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1 $419.37K USD 1 Quarter
Stockholders Equity 21 line items
Line Item Tag Value Unit Period
Balance, beginning of period StockholdersEquity $45.44M USD Point-in-time
Balance, beginning of period StockholdersEquity $45.00M USD Point-in-time
Balance, beginning of period StockholdersEquity $46.57M USD Point-in-time
Balance, beginning of period StockholdersEquity $45.37M USD Point-in-time
Stock based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $125.04K USD 1 Quarter
Stock based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $66.35K USD 1 Quarter
Stock issued in exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $2.02K USD 1 Quarter
Stock issued in settlement of RSUs StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures - USD 1 Quarter
Stock issued in settlement of RSUs StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $419.37K USD 1 Quarter
Tax withholdings paid related to stock based compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $148.88K USD 1 Quarter
Tax withholdings paid related to stock based compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $26.63K USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $139.61K USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-945.42K USD 1 Quarter
Unrealized gains (losses) on investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-7.97K USD 1 Quarter
Unrealized gains (losses) on investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-157.35K USD 1 Quarter
Net loss NetIncomeLoss $-601.50K USD 1 Quarter
Net loss NetIncomeLoss $-365.26K USD 1 Quarter
Balance, end of period StockholdersEquity $45.44M USD Point-in-time
Balance, end of period StockholdersEquity $45.00M USD Point-in-time
Balance, end of period StockholdersEquity $46.57M USD Point-in-time
Balance, end of period StockholdersEquity $45.37M USD Point-in-time

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

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