10-Q Filing

REED'S, INC. CIK: 1140215 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001493152-14-001465`
Period End Date	20140331
Filing Date	20140514
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	reed-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 24 Cash Flow Statement 55 Stockholders Equity 9

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts and returns and discounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$310.00K	USD	Point-in-time
Allowance for Doubtful Accounts and returns and discounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$324.00K	USD	Point-in-time
Reserve for obsolescence, inventory	`InventoryLIFOReserve`	$181.00K	USD	Point-in-time
Reserve for obsolescence, inventory	`InventoryLIFOReserve`	$176.00K	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.95M	USD	Point-in-time
Cash	`Cash`	$1.10M	USD	Point-in-time
Cash	`Cash`	$726.00K	USD	Point-in-time
Cash	`Cash`	$1.10M	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.80M	USD	Point-in-time
Cash	`Cash`	$1.16M	USD	Point-in-time
Accumulated Amortization, deferred financing fees	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$40.00K	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts and returns and discounts of $310,000 and $324,000, respectively	`AccountsReceivableNetCurrent`	$2.56M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts and returns and discounts of $310,000 and $324,000, respectively	`AccountsReceivableNetCurrent`	$2.14M	USD	Point-in-time
Accumulated Amortization, deferred financing fees	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$58.00K	USD	Point-in-time
Inventory, net of reserve for obsolescence of $181,000 and $176,000, respectively	`InventoryNet`	$6.08M	USD	Point-in-time
Discount, long term financing obligation	`DebtInstrumentUnamortizedDiscountPremiumNet`	$526.00K	USD	Point-in-time
Inventory, net of reserve for obsolescence of $181,000 and $176,000, respectively	`InventoryNet`	$6.29M	USD	Point-in-time
Discount, long term financing obligation	`DebtInstrumentUnamortizedDiscountPremiumNet`	$513.00K	USD	Point-in-time
Prepaid inventory	`OtherInventory`	$373.00K	USD	Point-in-time
Prepaid inventory	`OtherInventory`	$256.00K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssets`	$181.00K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssets`	$178.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$10.29M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$9.97M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $2,947,000 and $2,796,000, respectively	`PropertyPlantAndEquipmentNet`	$3.61M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $2,947,000 and $2,796,000, respectively	`PropertyPlantAndEquipmentNet`	$3.69M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Brand names	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.03M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Brand names	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.03M	USD	Point-in-time
Deferred financing fees, net of amortization of $58,000 and $40,000, respectively	`DeferredFinanceCostsNoncurrentNet`	$49.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	19.50M	shares	Point-in-time
Deferred financing fees, net of amortization of $58,000 and $40,000, respectively	`DeferredFinanceCostsNoncurrentNet`	$60.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	19.50M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	12.92M	shares	Point-in-time
Total assets	`Assets`	$14.98M	USD	Point-in-time
Total assets	`Assets`	$14.75M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.04M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.92M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.04M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.97M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$136.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$126.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$4.52M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$4.59M	USD	Point-in-time
Current portion of long term financing obligation	`LongTermDebtCurrent`	$111.00K	USD	Point-in-time
Current portion of long term financing obligation	`LongTermDebtCurrent`	$116.00K	USD	Point-in-time
Current portion of capital leases payable	`CapitalLeaseObligationsCurrent`	$79.00K	USD	Point-in-time
Current portion of capital leases payable	`CapitalLeaseObligationsCurrent`	$63.00K	USD	Point-in-time
Current portion of term loan	`NotesPayableCurrent`	$171.00K	USD	Point-in-time
Current portion of term loan	`NotesPayableCurrent`	$165.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.04M	USD	Point-in-time
Long term financing obligation, less current portion, net of discount of $513,000 and $526,000, respectively	`LongTermDebtNoncurrent`	$2.13M	USD	Point-in-time
Long term financing obligation, less current portion, net of discount of $513,000 and $526,000, respectively	`LongTermDebtNoncurrent`	$2.15M	USD	Point-in-time
Capital leases payable, less current portion	`CapitalLeaseObligationsNoncurrent`	$106.00K	USD	Point-in-time
Capital leases payable, less current portion	`CapitalLeaseObligationsNoncurrent`	$92.00K	USD	Point-in-time
Term loan, less current portion	`LongTermNotesPayable`	$482.00K	USD	Point-in-time
Term loan, less current portion	`LongTermNotesPayable`	$437.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$11.36M	USD	Point-in-time
Total Liabilities	`Liabilities`	$11.70M	USD	Point-in-time
Common stock, $.0001 par value, 19,500,000 shares authorized, 13,042,952 and 12,922,832 shares issued and outstanding, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $.0001 par value, 19,500,000 shares authorized, 13,042,952 and 12,922,832 shares issued and outstanding, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$25.28M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$25.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.29M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.39M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$14.98M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$14.75M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$8.13M	USD	1 Quarter
Sales	`SalesRevenueNet`	$8.95M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$5.59M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$6.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.90M	USD	1 Quarter
Delivery and handling expenses	`ShippingHandlingAndTransportationCosts`	$895.00K	USD	1 Quarter
Delivery and handling expenses	`ShippingHandlingAndTransportationCosts`	$906.00K	USD	1 Quarter
Selling and marketing expense	`SellingAndMarketingExpense`	$1.07M	USD	1 Quarter
Selling and marketing expense	`SellingAndMarketingExpense`	$880.00K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$988.00K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$972.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.94M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.77M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-32.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-239.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$164.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$188.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-220.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-403.00K	USD	1 Quarter
Loss per share basic and diluted	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Loss per share basic and diluted	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Weighted average number of shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	12.32M	shares	1 Quarter
Weighted average number of shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	12.97M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-220.00K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-403.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$181.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$145.00K	USD	1 Quarter
Fair value of stock options issued to employees	`FairValueOptionChangesInFairValueGainLoss1`	$119.00K	USD	1 Quarter
Fair value of stock options issued to employees	`FairValueOptionChangesInFairValueGainLoss1`	$99.00K	USD	1 Quarter
Fair value of common stock issued for services and bonus	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Fair value of common stock issued for services and bonus	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$5.00K	USD	1 Quarter
(Decrease) increase in allowance for doubtful accounts	`PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries`	$40.00K	USD	1 Quarter
(Decrease) increase in allowance for doubtful accounts	`PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries`	$-14.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-307.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-404.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-507.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$217.00K	USD	1 Quarter
Prepaid expenses and inventory and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-120.00K	USD	1 Quarter
Prepaid expenses and inventory and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-28.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$356.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$28.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-10.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-24.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$85.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-932.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$73.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$98.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-73.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-98.00K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$20.00K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$30.00K	USD	1 Quarter
Payment of deferred financing fees	`PaymentOfDeferredFinancingfees`	$7.00K	USD	1 Quarter
Principal repayments on long term financing obligation	`RepaymentsOfLongTermDebt`	$25.00K	USD	1 Quarter
Principal repayments on long term financing obligation	`RepaymentsOfLongTermDebt`	$21.00K	USD	1 Quarter
Principal repayments on capital lease obligation	`RepaymentsOfDebtAndCapitalLeaseObligations`	$16.00K	USD	1 Quarter
Principal repayments on capital lease obligation	`RepaymentsOfDebtAndCapitalLeaseObligations`	$30.00K	USD	1 Quarter
Principal repayments on term loan	`RepaymentsOfNotesPayable`	$39.00K	USD	1 Quarter
Principal repayments on term loan	`RepaymentsOfNotesPayable`	$42.00K	USD	1 Quarter
Net draw down (repayment) on line of credit	`RepaymentsOfLinesOfCredit`	$-642.00K	USD	1 Quarter
Net draw down (repayment) on line of credit	`RepaymentsOfLinesOfCredit`	$-69.00K	USD	1 Quarter
Net cash (used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$593.00K	USD	1 Quarter
Net cash (used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.00K	USD	1 Quarter
Net (decrease) increase in cash	`CashPeriodIncreaseDecrease`	$-437.00K	USD	1 Quarter
Net (decrease) increase in cash	`CashPeriodIncreaseDecrease`	-	USD	1 Quarter
Cash at beginning of period	`Cash`	$1.10M	USD	Point-in-time
Cash at beginning of period	`Cash`	$726.00K	USD	Point-in-time
Cash at beginning of period	`Cash`	$1.10M	USD	Point-in-time
Cash at beginning of period	`Cash`	$1.16M	USD	Point-in-time
Cash at end of period	`Cash`	$1.10M	USD	Point-in-time
Cash at end of period	`Cash`	$726.00K	USD	Point-in-time
Cash at end of period	`Cash`	$1.10M	USD	Point-in-time
Cash at end of period	`Cash`	$1.16M	USD	Point-in-time
Interest	`InterestPaidNet`	$188.00K	USD	1 Quarter
Interest	`InterestPaidNet`	$164.00K	USD	1 Quarter
Series B Preferred stock converted to common stock	`SeriesBPreferredStockConvertedToCommonStock1`	$456.00K	USD	1 Quarter
Series B Preferred stock converted to common stock	`SeriesBPreferredStockConvertedToCommonStock1`	-	USD	1 Quarter
Common stock issued in settlement of Series A and B preferred stock dividend	`StockIssuedDuringPeriodValueOther`	-	USD	1 Quarter
Common stock issued in settlement of Series A and B preferred stock dividend	`StockIssuedDuringPeriodValueOther`	$74.00K	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$3.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.39M	USD	Point-in-time
Common shares issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$20.00K	USD	1 Quarter
Common shares issued upon exercise of stock options, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	-178,700.00	shares	1 Quarter
Fair value vesting of options issued for bonuses and services	`FairValueOfCommonStockIssuedForBonusesAndServicesAmount`	$99.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-220.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-403.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$3.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.39M	USD	Point-in-time

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