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10-Q Filing

ECOSPHERE TECHNOLOGIES INC CIK: 1071760 Q1 2012
Filing Information
Form Type 10-Q
Accession Number 0001354488-12-002275
Period End Date 20120331
Filing Date 20120510
Fiscal Year 2012
Fiscal Period Q1
XBRL Instance esph-20120331.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 line items
Line Item Tag Value Unit Period
Preferred Stock series A shares Authorized PreferredStockSeriesSharesAuthorized 11.00 shares Point-in-time
Preferred Stock series A shares Authorized PreferredStockSeriesSharesAuthorized 11.00 shares Point-in-time
Preferred Stock series A shares Issued PreferredStockSeriesASharesIssued 6.00 shares Point-in-time
Preferred Stock series A shares Issued PreferredStockSeriesASharesIssued 6.00 shares Point-in-time
Cash Cash $2.52M USD Point-in-time
Cash Cash $2.04M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $873.12K USD Point-in-time
Preferred Stock series A shares Outstanding PreferredStockSeriesASharesOutstanding 6.00 shares Point-in-time
Preferred Stock series A shares Outstanding PreferredStockSeriesASharesOutstanding 6.00 shares Point-in-time
Accounts receivable AccountsReceivableNetCurrent $1.86M USD Point-in-time
Preferred Stock series B shares Authorized PreferredStockSeriesBSharesAuthorized 484.00 shares Point-in-time
Inventory InventoryNet $408.75K USD Point-in-time
Preferred Stock series B shares Authorized PreferredStockSeriesBSharesAuthorized 484.00 shares Point-in-time
Inventory InventoryNet $401.84K USD Point-in-time
Preferred Stock series B shares Issued PreferredStockSeriesBSharesIssued 322.00 shares Point-in-time
Preferred Stock series B shares Issued PreferredStockSeriesBSharesIssued 322.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $245.29K USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $81.85K USD Point-in-time
Total current assets AssetsCurrent $3.41M USD Point-in-time
Preferred Stock series B shares Outstanding PreferredStockSeriesBSharesOutstanding 322.00 shares Point-in-time
Preferred Stock series B shares Outstanding PreferredStockSeriesBSharesOutstanding 322.00 shares Point-in-time
Total current assets AssetsCurrent $5.03M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $5.61M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $6.14M USD Point-in-time
Patents, net FiniteLivedIntangibleAssetsNet $42.16K USD Point-in-time
Common Stock Shares Par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Patents, net FiniteLivedIntangibleAssetsNet $41.17K USD Point-in-time
Common Stock Shares Par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Deposits DepositsAssetsNoncurrent $21.86K USD Point-in-time
Deposits DepositsAssetsNoncurrent $22.60K USD Point-in-time
Common Stock Shares Authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Common Stock Shares Authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Common Stock Shares Issued CommonStockSharesIssued 146.26M shares Point-in-time
Common Stock Shares Issued CommonStockSharesIssued 147.95M shares Point-in-time
Total assets Assets $10.69M USD Point-in-time
Total assets Assets $9.61M USD Point-in-time
Common Stock Shares Outstanding CommonStockSharesOutstanding 147.95M shares Point-in-time
Common Stock Shares Outstanding CommonStockSharesOutstanding 146.26M shares Point-in-time
Accounts payable AccountsPayableCurrent $1.36M USD Point-in-time
Accounts payable AccountsPayableCurrent $1.18M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.07M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.16M USD Point-in-time
Convertible notes payable, net of discounts ConvertibleNotesPayable $1.56M USD Point-in-time
Convertible notes payable, net of discounts ConvertibleNotesPayable $370.56K USD Point-in-time
Financing obligations and other notes payable FinancingObligations $271.22K USD Point-in-time
Financing obligations and other notes payable FinancingObligations $49.30K USD Point-in-time
Related party notes payable NotesPayableRelatedPartiesClassifiedCurrent $204.78K USD Point-in-time
Related party notes payable NotesPayableRelatedPartiesClassifiedCurrent $136.68K USD Point-in-time
Warrant derivatives fair value DerivativeLiabilitiesCurrent $488.31K USD Point-in-time
Warrant derivatives fair value DerivativeLiabilitiesCurrent $347.24K USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.89M USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.32M USD Point-in-time
Convertible notes payable, net of discounts ConvertibleNotesPayableNetOfDiscounts $1.37M USD Point-in-time
Convertible notes payable, net of discounts ConvertibleNotesPayableNetOfDiscounts - USD Point-in-time
Related party notes payable RelatedPartyNotesPayable - USD Point-in-time
Related party notes payable RelatedPartyNotesPayable $204.30K USD Point-in-time
Financing obligations and other notes payable FinancingObligations1 $343.07K USD Point-in-time
Financing obligations and other notes payable FinancingObligations1 $168.05K USD Point-in-time
Restructuring reserve RestructuringReserve $119.18K USD Point-in-time
Restructuring reserve RestructuringReserve $106.66K USD Point-in-time
Total Liabilities Liabilities $5.17M USD Point-in-time
Total Liabilities Liabilities $5.34M USD Point-in-time
Redeemable convertible cumulative preferred stock Series A - 11 shares authorized; 6 shares issued and outstanding at March 31, 2012 and December 31, 2011; $25,000 per share redemption amount plus accrued dividends PreferredStockDividendsinarrearsseriesA $1.16M USD Point-in-time
Redeemable convertible cumulative preferred stock Series A - 11 shares authorized; 6 shares issued and outstanding at March 31, 2012 and December 31, 2011; $25,000 per share redemption amount plus accrued dividends PreferredStockDividendsinarrearsseriesA $1.16M USD Point-in-time
Redeemable convertible cumulative preferred stock Series B - 484 shares authorized; 322 shares issued and outstanding at March 31, 2012 and December 31, 2011; $2,500 per share redemption amount plus accrued dividends PreferredStockDividendinArrearsSeriesB $2.82M USD Point-in-time
Redeemable convertible cumulative preferred stock Series B - 484 shares authorized; 322 shares issued and outstanding at March 31, 2012 and December 31, 2011; $2,500 per share redemption amount plus accrued dividends PreferredStockDividendinArrearsSeriesB $2.84M USD Point-in-time
Total redeemable convertible cumulative preferred stock TotalRedeemableConvertibleCumulativePreferredStock $4.01M USD Point-in-time
Total redeemable convertible cumulative preferred stock TotalRedeemableConvertibleCumulativePreferredStock $3.98M USD Point-in-time
Common stock, $0.01 par value; 300,000,000 shares authorized; 147,949,356 and 146,262,357 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively CommonStockValue $1.48M USD Point-in-time
Common stock, $0.01 par value; 300,000,000 shares authorized; 147,949,356 and 146,262,357 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively CommonStockValue $1.46M USD Point-in-time
Common stock issuable, $0.01 par value; 307,148 and 71,959 issuable at March 31, 2012 and December 31, 2011, respectively CommonStockIssuable $720.00 USD Point-in-time
Common stock issuable, $0.01 par value; 307,148 and 71,959 issuable at March 31, 2012 and December 31, 2011, respectively CommonStockIssuable $3.07K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $104.80M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $105.84M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-117.19M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-117.58M USD Point-in-time
Total Ecosphere Technologies, Inc. stockholders' deficit StockholdersEquity $-11.31M USD Point-in-time
Total Ecosphere Technologies, Inc. stockholders' deficit StockholdersEquity $-9.87M USD Point-in-time
Noncontrolling interest in consolidated subsidiary MinorityInterest $11.77M USD Point-in-time
Noncontrolling interest in consolidated subsidiary MinorityInterest $11.22M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $458.99K USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.35M USD Point-in-time
Total liabilities, redeemable convertible cumulative preferred stock and equity (deficit) LiabilitiesAndStockholdersEquity $10.69M USD Point-in-time
Total liabilities, redeemable convertible cumulative preferred stock and equity (deficit) LiabilitiesAndStockholdersEquity $9.61M USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Equipment sales and licensing EquipmentSalesAndLicensing $5.65M USD 1 Quarter
Equipment sales and licensing EquipmentSalesAndLicensing - USD 1 Quarter
Field services RegulatedOperatingRevenueFieldServices $2.71M USD 1 Quarter
Field services RegulatedOperatingRevenueFieldServices $2.23M USD 1 Quarter
Total revenues Revenues $8.36M USD 1 Quarter
Total revenues Revenues $2.23M USD 1 Quarter
Equipment sales and licensing CostOfEquipmentSalesAndLicensing $4.11M USD 1 Quarter
Equipment sales and licensing CostOfEquipmentSalesAndLicensing - USD 1 Quarter
Field services OtherCostAndExpenseOperating $801.72K USD 1 Quarter
Field services OtherCostAndExpenseOperating $621.70K USD 1 Quarter
Total cost of revenues CostOfRevenue $621.70K USD 1 Quarter
Total cost of revenues CostOfRevenue $4.91M USD 1 Quarter
Gross profit GrossProfit $3.45M USD 1 Quarter
Gross profit GrossProfit $1.61M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $2.41M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $4.94M USD 1 Quarter
Total operating expenses OperatingExpenses $2.41M USD 1 Quarter
Total operating expenses OperatingExpenses $4.94M USD 1 Quarter
Income (loss) from operations OperatingIncomeLoss $1.04M USD 1 Quarter
Income (loss) from operations OperatingIncomeLoss $-3.33M USD 1 Quarter
Interest expense OtherNonoperatingIncome $-122.41K USD 1 Quarter
Interest expense OtherNonoperatingIncome $-97.48K USD 1 Quarter
Loss on conversion, net LossOnConversionNet - USD 1 Quarter
Loss on conversion, net LossOnConversionNet $-94.66K USD 1 Quarter
Loss on change in fair value of derivative instruments IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments $-198.16K USD 1 Quarter
Loss on change in fair value of derivative instruments IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments $-198.76K USD 1 Quarter
Other, net OtherExpenses $-3.76K USD 1 Quarter
Other, net OtherExpenses $-143.00 USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-291.88K USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-415.69K USD 1 Quarter
Net income (loss) ProfitLoss $-3.75M USD 1 Quarter
Net income (loss) ProfitLoss $746.78K USD 1 Quarter
Preferred stock dividends DividendsPreferredStock $25.75K USD 1 Quarter
Preferred stock dividends DividendsPreferredStock $25.75K USD 1 Quarter
Net income (loss) applicable to common stock before allocation to noncontrolling interest NetIncomeLoss $721.03K USD 1 Quarter
Net income (loss) applicable to common stock before allocation to noncontrolling interest NetIncomeLoss $-3.77M USD 1 Quarter
Less: net (income) loss applicable to non- controlling interest in consolidated subsidiary NetIncomeLossAttributableToNoncontrollingInterest $356.25K USD 1 Quarter
Less: net (income) loss applicable to non- controlling interest in consolidated subsidiary NetIncomeLossAttributableToNoncontrollingInterest $28.01K USD 1 Quarter
Net income (loss) applicable to Ecosphere Technologies, Inc. common stock NetIncomeLossAvailableToCommonStockholdersBasic $364.79K USD 1 Quarter
Net income (loss) applicable to Ecosphere Technologies, Inc. common stock NetIncomeLossAvailableToCommonStockholdersBasic $-3.80M USD 1 Quarter
Basic and diluted EarningsPerShareBasicAndDiluted $-0.03 USD 1 Quarter
Basic and diluted EarningsPerShareBasicAndDiluted - USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 141.67M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 147.41M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 141.67M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 161.63M shares 1 Quarter
Cash Flow Statement 88 line items
Line Item Tag Value Unit Period
Net income (loss) applicable to Ecosphere Technologies, Inc. common stock IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-3.80M USD 1 Quarter
Net income (loss) applicable to Ecosphere Technologies, Inc. common stock IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $364.79K USD 1 Quarter
Preferred stock dividends DividendsPreferredStock $25.75K USD 1 Quarter
Preferred stock dividends DividendsPreferredStock $25.75K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $551.60K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $528.04K USD 1 Quarter
Accretion of discount on notes payable AmortizationOfFinancingCostsAndDiscounts $46.18K USD 1 Quarter
Accretion of discount on notes payable AmortizationOfFinancingCostsAndDiscounts $69.23K USD 1 Quarter
Loss on conversion of debt and accrued interest to common stock LossOnSettlementOfNoteAndAccruedInterestForCommonStock - USD 1 Quarter
Loss on conversion of debt and accrued interest to common stock LossOnSettlementOfNoteAndAccruedInterestForCommonStock $93.76K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.45M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $441.87K USD 1 Quarter
Stock options issued for services StockOptionsIssuedForServices - USD 1 Quarter
Stock options issued for services StockOptionsIssuedForServices $97.45K USD 1 Quarter
Noncontrolling interest in income of consolidated subsidiary NetIncomeLossAttributableToNoncontrollingInterest $356.25K USD 1 Quarter
Noncontrolling interest in income of consolidated subsidiary NetIncomeLossAttributableToNoncontrollingInterest $28.01K USD 1 Quarter
Loss from change in fair value of warrant derivative liability UnrealizedGainLossOnDerivatives $198.76K USD 1 Quarter
Loss from change in fair value of warrant derivative liability UnrealizedGainLossOnDerivatives $198.16K USD 1 Quarter
(Increase) decrease in accounts receivable IncreaseDecreaseInAccountsReceivable $13.58K USD 1 Quarter
(Increase) decrease in accounts receivable IncreaseDecreaseInAccountsReceivable $-988.50K USD 1 Quarter
Decrease (increase) in prepaid expenses and other current assets IncreaseDecreaseInPrepaidExpense $8.49K USD 1 Quarter
Decrease (increase) in prepaid expenses and other current assets IncreaseDecreaseInPrepaidExpense $-41.35K USD 1 Quarter
Decrease in inventory IncreaseDecreaseInInventories $6.91K USD 1 Quarter
Decrease in inventory IncreaseDecreaseInInventories - USD 1 Quarter
Decrease (increase) in deposits IncreaseDecreaseInDepositOtherAssets $733.00 USD 1 Quarter
Decrease (increase) in deposits IncreaseDecreaseInDepositOtherAssets $-5.44K USD 1 Quarter
Increase in restricted cash IncreaseDecreaseInRestrictedCash $-2.14M USD 1 Quarter
Increase in restricted cash IncreaseDecreaseInRestrictedCash - USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $-740.12K USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $177.79K USD 1 Quarter
Decrease in accrued liabilities IncreaseDecreaseInAccruedLiabilities $-94.96K USD 1 Quarter
Decrease in accrued liabilities IncreaseDecreaseInAccruedLiabilities $-97.93K USD 1 Quarter
Decrease in restructuring reserve IncreaseDecreaseInRestructuringReserve $-23.18K USD 1 Quarter
Decrease in restructuring reserve IncreaseDecreaseInRestructuringReserve $-12.53K USD 1 Quarter
Increase in customer deposits IncreaseDecreaseInCustomerDeposits $2.14M USD 1 Quarter
Increase in customer deposits IncreaseDecreaseInCustomerDeposits - USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-1.22M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $1.11M USD 1 Quarter
Construction in process purchases PaymentsForConstructionInProcess $131.83K USD 1 Quarter
Construction in process purchases PaymentsForConstructionInProcess - USD 1 Quarter
Purchase of property and equipment PurchaseOfPropertyAndEquipment $-14.12K USD 1 Quarter
Purchase of property and equipment PurchaseOfPropertyAndEquipment $-90.69K USD 1 Quarter
Net cash (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-14.12K USD 1 Quarter
Net cash (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-222.51K USD 1 Quarter
Proceeds from issuance of convertible notes payable and warrants ProceedsFromConvertibleDebt - USD 1 Quarter
Proceeds from issuance of convertible notes payable and warrants ProceedsFromConvertibleDebt $1.57M USD 1 Quarter
Proceeds from warrant and option exercises ProceedsFromStockOptionsExercised $229.80K USD 1 Quarter
Proceeds from warrant and option exercises ProceedsFromStockOptionsExercised $571.66K USD 1 Quarter
Proceeds from warrant modifications ProceedsFromWarrantModifications - USD 1 Quarter
Proceeds from warrant modifications ProceedsFromWarrantModifications $107.40K USD 1 Quarter
Distributions from subsidiary to noncontrolling members PaymentsToMinorityShareholders $908.55K USD 1 Quarter
Distributions from subsidiary to noncontrolling members PaymentsToMinorityShareholders - USD 1 Quarter
Repayments of notes payable and insurance financing RepaymentsOfNotesPayable $33.05K USD 1 Quarter
Repayments of notes payable and insurance financing RepaymentsOfNotesPayable $35.86K USD 1 Quarter
Repayments of notes payable to related parties RepaymentsOfRelatedPartyDebt - USD 1 Quarter
Repayments of notes payable to related parties RepaymentsOfRelatedPartyDebt $344.78K USD 1 Quarter
Repayments of vehicle and equipment financing RepaymentsOfVehicleAndEquipmentFinancing $11.52K USD 1 Quarter
Repayments of vehicle and equipment financing RepaymentsOfVehicleAndEquipmentFinancing $3.56K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.77M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-618.73K USD 1 Quarter
Net increase in cash CashAndCashEquivalentsPeriodIncreaseDecrease $318.83K USD 1 Quarter
Net increase in cash CashAndCashEquivalentsPeriodIncreaseDecrease $472.73K USD 1 Quarter
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $2.52M USD Point-in-time
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $365.22K USD Point-in-time
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $2.04M USD Point-in-time
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $46.39K USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $2.52M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $365.22K USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $2.04M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $46.39K USD Point-in-time
Cash paid for interest InterestPaid $84.92K USD 1 Quarter
Cash paid for interest InterestPaid $3.12K USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid - USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid - USD 1 Quarter
Accrued preferred stock dividends DividendsPreferredStock $25.75K USD 1 Quarter
Accrued preferred stock dividends DividendsPreferredStock $25.75K USD 1 Quarter
Conversion of convertible notes to common stock ConversionOfConvertibleNotesToCommonStock - USD 1 Quarter
Conversion of convertible notes to common stock ConversionOfConvertibleNotesToCommonStock $275.00K USD 1 Quarter
Discount related to warrants issued with convertible debt DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction - USD 1 Quarter
Discount related to warrants issued with convertible debt DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction $415.75K USD 1 Quarter
Cashless exercise of options and warrants CashlessExerciseOfOptionsAndWarrants - USD 1 Quarter
Cashless exercise of options and warrants CashlessExerciseOfOptionsAndWarrants $3.69K USD 1 Quarter
Reduction of derivative liability for warrant derivative instruments from warrant exercises and modifications ReductionOfDerivativeLiabilityForWarrantDerivativeInstrumentsFromWarrantExercisesAndModifications $57.09K USD 1 Quarter
Reduction of derivative liability for warrant derivative instruments from warrant exercises and modifications ReductionOfDerivativeLiabilityForWarrantDerivativeInstrumentsFromWarrantExercisesAndModifications - USD 1 Quarter
Insurance premium finance contract recorded as prepaid asset InsurancePremiumFinanceContractRecordedAsPrepaidAsset $151.05K USD 1 Quarter
Insurance premium finance contract recorded as prepaid asset InsurancePremiumFinanceContractRecordedAsPrepaidAsset $171.93K USD 1 Quarter
Common stock issued as settlement of note and accrued interest CommonStockIssuedAsSettlementOfNoteAndAccruedInterest $66.33K USD 1 Quarter
Common stock issued as settlement of note and accrued interest CommonStockIssuedAsSettlementOfNoteAndAccruedInterest - USD 1 Quarter

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

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