10-K Filing

NextPlat Corp CIK: 1058307 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001415889-16-005378`
Period End Date	20151231
Filing Date	20160330
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	trkk-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 48 Cash Flow Statement 76 Stockholders Equity 18

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$65.89K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`Cash`	$963.33K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$82.99K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$116.72K	USD	Point-in-time
Inventory	`InventoryNet`	$183.78K	USD	Point-in-time
Inventory	`InventoryNet`	$251.52K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$65.76K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$25.61K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Prepaid expenses - current portion	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid expenses - current portion	`PrepaidExpenseCurrent`	$191.68K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.25M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.54M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$43.34K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$25.76K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$384.03K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.63M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.54M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$58.41K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.22M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsGross`	-	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsGross`	$275.00K	USD	Point-in-time
Prepaid expenses - long term portion	`PrepaidExpenseNoncurrent`	-	USD	Point-in-time
Prepaid expenses - long term portion	`PrepaidExpenseNoncurrent`	$189.97K	USD	Point-in-time
Total Assets	`Assets`	$442.45K	USD	Point-in-time
Total Assets	`Assets`	$4.32M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$610.23K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$299.88K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$16.66K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$28.89K	USD	Point-in-time
Due to related party	`NotesPayableCurrent`	$59.31K	USD	Point-in-time
Due to related party	`NotesPayableCurrent`	$74.05K	USD	Point-in-time
Derivative liability - current portion	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Derivative liability - current portion	`DerivativeLiabilitiesCurrent`	$311.37K	USD	Point-in-time
Convertible note payable - current portion, net of unamortized discount of $602,515	`ConvertibleNotesPayableCurrent`	$2.49K	USD	Point-in-time
Convertible note payable - current portion, net of unamortized discount of $602,515	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$112.40K	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$388.08K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.13M	USD	Point-in-time
Derivative liability - long term portion	`DerivativeLiabilitiesNoncurrent`	$307.02K	USD	Point-in-time
Derivative liability - long term portion	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.43M	USD	Point-in-time
Total Liabilities	`Liabilities`	$388.08K	USD	Point-in-time
Common stock, $0.0001 par value; 750,000,000 shares authorized, 19,252,082 and 2,540,000 shares issued and outstanding as of December 31, 2015 and 2014, respectively	`CommonStockValue`	$254.00	USD	Point-in-time
Common stock, $0.0001 par value; 750,000,000 shares authorized, 19,252,082 and 2,540,000 shares issued and outstanding as of December 31, 2015 and 2014, respectively	`CommonStockValue`	$1.93K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.36K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.90M	USD	Point-in-time
Accumulated (deficit) earning	`RetainedEarningsAccumulatedDeficit`	$-2.01M	USD	Point-in-time
Accumulated (deficit) earning	`RetainedEarningsAccumulatedDeficit`	$52.73K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.26K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-849.00	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$54.37K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.88M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$50.60K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.32M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$442.45K	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueServicesNet`	$3.95M	USD	Annual
Net sales	`SalesRevenueServicesNet`	$2.42M	USD	Annual
Cost of sales	`CostOfRevenue`	$1.74M	USD	Annual
Cost of sales	`CostOfRevenue`	$2.84M	USD	Annual
Gross profit	`GrossProfit`	$1.11M	USD	Annual
Gross profit	`GrossProfit`	$681.26K	USD	Annual
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$401.11K	USD	Annual
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$644.87K	USD	Annual
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$241.51K	USD	Annual
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$582.23K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.07M	USD	Annual
Professional fees	`ProfessionalFees`	$505.76K	USD	Annual
Professional fees	`ProfessionalFees`	$4.21K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$20.60K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$298.05K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$667.44K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$3.10M	USD	Annual
(Loss) Income from Operations	`OperatingIncomeLoss`	$-1.99M	USD	Annual
(Loss) Income from Operations	`OperatingIncomeLoss`	$13.82K	USD	Annual
Interest expense	`InterestIncomeExpenseNet`	$6.07K	USD	Annual
Interest expense	`InterestIncomeExpenseNet`	-	USD	Annual
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$3.36K	USD	Annual
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$7.33K	USD	Annual
Change in fair value of derivative instruments, net	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	-	USD	Annual
Change in fair value of derivative instruments, net	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$63.45K	USD	Annual
Total Other Expense	`OtherNonoperatingIncomeExpense`	$7.33K	USD	Annual
Total Other Expense	`OtherNonoperatingIncomeExpense`	$72.89K	USD	Annual
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.49K	USD	Annual
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.06M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-2.06M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$6.49K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-2.06M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$6.49K	USD	Annual
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$-11.41K	USD	Annual
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$-849.00	USD	Annual
Net (loss) income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$5.64K	USD	Annual
Net (loss) income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.08M	USD	Annual
Net (loss) income Per Share - Basic	`EarningsPerShareBasic`	-	USD	Annual
Net (loss) income Per Share - Basic	`EarningsPerShareBasic`	$-0.26	USD	Annual
Net (loss) income Per Share - Diluted	`EarningsPerShareDiluted`	-	USD	Annual
Net (loss) income Per Share - Diluted	`EarningsPerShareDiluted`	$-0.26	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.54M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.99M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	90.00M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.99M	shares	Annual

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-2.06M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$6.49K	USD	Annual
Imputed interest	`ImputedInterest`	$5.58K	USD	Annual
Imputed interest	`ImputedInterest`	-	USD	Annual
Amortization of prepaid license fee	`OtherAmortizationOfDeferredCharges`	$174.58K	USD	Annual
Amortization of prepaid license fee	`OtherAmortizationOfDeferredCharges`	-	USD	Annual
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$25.00K	USD	Annual
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	-	USD	Annual
Amortization of transaction fees	`AmortizationOfTransactionFees`	-	USD	Annual
Amortization of transaction fees	`AmortizationOfTransactionFees`	$2.72K	USD	Annual
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services	`OtherDepreciationAndAmortization`	-	USD	Annual
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services	`OtherDepreciationAndAmortization`	$130.66K	USD	Annual
Change in fair value of derivative liabilities	`IncreaseDecreaseInDerivativeLiabilities`	$-63.45K	USD	Annual
Change in fair value of derivative liabilities	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	Annual
Depreciation expense	`Depreciation`	$94.41K	USD	Annual
Depreciation expense	`Depreciation`	$20.60K	USD	Annual
Stock-based compensation	`ShareBasedGoodsAndNonemployeeServicesTransactionModificationOfTermsIncrementalCompensationCost`	-	USD	Annual
Stock-based compensation	`ShareBasedGoodsAndNonemployeeServicesTransactionModificationOfTermsIncrementalCompensationCost`	$1.07M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$52.95K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-853.00	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$51.09K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$27.58K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-56.53K	USD	Annual
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$10.73K	USD	Annual
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$40.15K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$16.30K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$6.36K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$115.78K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$16.36K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$10.05K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-12.23K	USD	Annual
Net Cash (Used In) Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$21.86K	USD	Annual
Net Cash (Used In) Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-620.94K	USD	Annual
Cash acquired from acquisition	`CashAcquiredFromAcquisition`	$30.93K	USD	Annual
Cash acquired from acquisition	`CashAcquiredFromAcquisition`	-	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.64K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$90.85K	USD	Annual
Purchase of Appliques	`PaymentsToAcquireIntangibleAssets`	$125.00K	USD	Annual
Purchase of Appliques	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Cash paid per Share Exchange Agreement	`PaymentsForRepurchaseOfWarrants`	-	USD	Annual
Cash paid per Share Exchange Agreement	`PaymentsForRepurchaseOfWarrants`	$375.00K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.64K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-559.91K	USD	Annual
Proceeds from issuance of common and preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$1.65M	USD	Annual
Proceeds from issuance of common and preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	Annual
Repayments of note payable	`RepaymentsOfNotesPayable`	$4.30K	USD	Annual
Repayments of note payable	`RepaymentsOfNotesPayable`	-	USD	Annual
Repayments (to) from related party, net	`RepaymentsOfRelatedPartyDebt`	$107.79K	USD	Annual
Repayments (to) from related party, net	`RepaymentsOfRelatedPartyDebt`	$-4.27K	USD	Annual
Net proceeds from convertible notes payable	`ProceedsFromNotesPayable`	$550.00K	USD	Annual
Net proceeds from convertible notes payable	`ProceedsFromNotesPayable`	-	USD	Annual
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-31.00	USD	Annual
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$2.09M	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.72K	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-11.41K	USD	Annual
Net increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-34.38K	USD	Annual
Net increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$897.44K	USD	Annual
Cash at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$78.41K	USD	Point-in-time
Cash at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$963.33K	USD	Point-in-time
Cash at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$65.89K	USD	Point-in-time
Cash at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$78.41K	USD	Point-in-time
Cash at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$963.33K	USD	Point-in-time
Cash at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$65.89K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	$6.42K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	Annual
Notes payable issued per Share Exchange Agreement	`NotesIssued1`	$122.54K	USD	Annual
Notes payable issued per Share Exchange Agreement	`NotesIssued1`	-	USD	Annual
Issuance of common stock for intellectual property	`CommonStockIssuedForIntellectualPropertyNoncash`	-	USD	Annual
Issuance of common stock for intellectual property	`CommonStockIssuedForIntellectualPropertyNoncash`	$50.00K	USD	Annual
Issuance of common stock for prepaid services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$456.00K	USD	Annual
Issuance of common stock for prepaid services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Issuance of common stock for settlement of debt	`CommonStockIssuedForSettlementOfDebt`	-	USD	Annual
Issuance of common stock for settlement of debt	`CommonStockIssuedForSettlementOfDebt`	$175.00K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$54.37K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$2.88M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$50.60K	USD	Point-in-time
Recapitalization of the Company, Amount	`RecapitalizationOfCompanyValue`	$1.50M	USD	Annual
Sale of common stock and preferred stock, Amount	`SaleOfCommonStockAndPreferredStockValue`	$1.65M	USD	Annual
Common stock issued for prepaid services, Amount	`StockIssuedDuringPeriodValueIssuedForServices`	$456.00K	USD	Annual
Common stock issued for intellectual property, Amount	`CommonStockIssuedForIntellectualPropertyValue`	$50.00K	USD	Annual
Common stock issued for settlement of debt, Amount	`CommonStockIssuedForSettlementOfDebtValue`	$175.00K	USD	Annual
Stock-based compensation in connection with options granted and issuances of common stock, Amount	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.02M	USD	Annual
Imputed interest expense for related party note payable issued for recapitalization	`ImputedInterestExpenseForRelatedPartyNotePayableIssuedForRecapitalization`	$5.58K	USD	Annual
Preferred stock conversions to common, Amount	`PreferredStockConversionsToCommonValue`	-	USD	Annual
Comprehensive income loss	`OtherComprehensiveIncomeLossNetOfTax`	$-2.72K	USD	Annual
Comprehensive income loss	`OtherComprehensiveIncomeLossNetOfTax`	$-11.41K	USD	Annual
Net income loss	`NetIncomeLoss`	$-2.06M	USD	Annual
Net income loss	`NetIncomeLoss`	$6.49K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$54.37K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$2.88M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$50.60K	USD	Point-in-time

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