10-Q Filing

ENERGY FOCUS, INC/DE CIK: 924168 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001437749-13-006130`
Period End Date	20130331
Filing Date	20130515
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	efoi-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 31 Cash Flow Statement 53 Comprehensive Income 6

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Restricted cash (in Dollars)	`RestrictedCashAndCashEquivalents`	$252.00K	USD	Point-in-time
Restricted cash (in Dollars)	`RestrictedCashAndCashEquivalents`	$72.00K	USD	Point-in-time
Restricted cash (in Dollars)	`RestrictedCashAndCashEquivalents`	$135.00K	USD	Point-in-time
Cash and cash equivalents, includes restricted cash of $135 and $252, respectively	`CashAndCashEquivalentsAtCarryingValue`	$1.18M	USD	Point-in-time
Cash and cash equivalents, includes restricted cash of $135 and $252, respectively	`CashAndCashEquivalentsAtCarryingValue`	$2.14M	USD	Point-in-time
Cash and cash equivalents, includes restricted cash of $135 and $252, respectively	`CashAndCashEquivalentsAtCarryingValue`	$1.73M	USD	Point-in-time
Allowances for trade accounts receivable current (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$265.00K	USD	Point-in-time
Cash and cash equivalents, includes restricted cash of $135 and $252, respectively	`CashAndCashEquivalentsAtCarryingValue`	$452.00K	USD	Point-in-time
Allowances for trade accounts receivable current (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$189.00K	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade accounts receivable less allowances of $189 and $265, respectively	`AccountsReceivableNetCurrent`	$5.32M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade accounts receivable less allowances of $189 and $265, respectively	`AccountsReceivableNetCurrent`	$3.86M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Retainage receivable	`ContractReceivableRetainage`	$634.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Retainage receivable	`ContractReceivableRetainage`	$673.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$2.58M	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.11M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$99.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Costs in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$97.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.07M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.01M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.27M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.70M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.80M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.70M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.76M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.70M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$545.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.70M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$608.00K	USD	Point-in-time
Collateralized assets	`CashCollateralForBorrowedSecurities`	$1.00M	USD	Point-in-time
Collateralized assets	`CashCollateralForBorrowedSecurities`	$1.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$119.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$119.00K	USD	Point-in-time
Total assets	`Assets`	$14.35M	USD	Point-in-time
Total assets	`Assets`	$12.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.43M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.27M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.83M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$751.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$300.00K	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCostCurrent`	$464.00K	USD	Point-in-time
Billings in excess of costs	`BillingsInExcessOfCostCurrent`	$187.00K	USD	Point-in-time
Credit line borrowings	`LinesOfCreditCurrent`	$1.59M	USD	Point-in-time
Credit line borrowings	`LinesOfCreditCurrent`	$1.21M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$780.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$756.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.74M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$18.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$30.00K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.79M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$3.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.53M	USD	Point-in-time
Preferred stock, par value $0.0001 per share: Authorized: 2,000,000 shares in 2013 and 2012 Issued and outstanding: no shares in 2013 and 2012	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.0001 per share: Authorized: 2,000,000 shares in 2013 and 2012 Issued and outstanding: no shares in 2013 and 2012	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.0001 per share: Authorized: 100,000,000 shares in 2013 and 2012 Issued and outstanding: 44,698,650 at March 31, 2013 and December 31, 2012	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock, par value $0.0001 per share: Authorized: 100,000,000 shares in 2013 and 2012 Issued and outstanding: 44,698,650 at March 31, 2013 and December 31, 2012	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$80.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$81.03M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$460.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$422.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-80.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-82.05M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-595.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$825.00K	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$12.70M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$14.35M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$5.33M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$5.30M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$4.52M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$4.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$785.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$37.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$46.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.27M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.30M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.15M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.47M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.41M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.69M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.21M	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$28.00K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$94.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$151.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$126.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.43M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.86M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.87M	USD	1 Quarter
Net loss per share - basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Net loss per share - basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Shares used in computing net loss per share -basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.62M	shares	1 Quarter
Shares used in computing net loss per share -basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	44.70M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.87M	USD	1 Quarter
Depreciation	`Depreciation`	$162.00K	USD	1 Quarter
Depreciation	`Depreciation`	$150.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$58.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$45.00K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$24.00K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$-29.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$104.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$63.00K	USD	1 Quarter
Amortization of discounts on long-term borrowings and acquisition related liabilities	`AmortizationOfDebtDiscountPremium`	$77.00K	USD	1 Quarter
Amortization of discounts on long-term borrowings and acquisition related liabilities	`AmortizationOfDebtDiscountPremium`	$44.00K	USD	1 Quarter
Amortization of loan origination fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-28.00K	USD	1 Quarter
Amortization of loan origination fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-28.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-728.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$216.00K	USD	1 Quarter
Accounts receivable, inventories, and other assets	`IncreaseDecreaseInOperatingAssets`	$1.61M	USD	1 Quarter
Accounts receivable, inventories, and other assets	`IncreaseDecreaseInOperatingAssets`	$-753.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.16M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-868.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-3.11M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-530.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.98M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.96M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$125.00K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-125.00K	USD	1 Quarter
Proceeds from issuances of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$4.83M	USD	1 Quarter
Proceeds from other borrowings	`ProceedsFromOtherDebt`	$1.75M	USD	1 Quarter
Payments on other borrowings	`RepaymentsOfOtherDebt`	$849.00K	USD	1 Quarter
Payments on other borrowings	`RepaymentsOfOtherDebt`	$12.00K	USD	1 Quarter
Net (payments) proceeds on credit line borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$603.00K	USD	1 Quarter
Net (payments) proceeds on credit line borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$-378.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.36M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.58M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$8.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-6.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-729.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-403.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$452.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$452.00K	USD	Point-in-time
Cash and cash equivalents	`Cash`	$317.00K	USD	Point-in-time
Cash and cash equivalents	`Cash`	$1.66M	USD	Point-in-time
Restricted cash held	`RestrictedCashAndCashEquivalents`	$252.00K	USD	Point-in-time
Restricted cash held	`RestrictedCashAndCashEquivalents`	$72.00K	USD	Point-in-time
Restricted cash held	`RestrictedCashAndCashEquivalents`	$135.00K	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.87M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$28.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-38.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.47M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.84M	USD	1 Quarter

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