10-Q Filing

REED'S, INC. CIK: 1140215 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001493152-15-001835`
Period End Date	20150331
Filing Date	20150511
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	reed-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 24 Cash Flow Statement 56 Stockholders Equity 8

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts, returns and discounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$252.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts, returns and discounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$253.00K	USD	Point-in-time
Inventory, reserve for obsolescence net	`InventoryValuationReserves`	$90.00K	USD	Point-in-time
Inventory, reserve for obsolescence net	`InventoryValuationReserves`	$75.00K	USD	Point-in-time
Cash	`Cash`	$1.10M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.40M	USD	Point-in-time
Cash	`Cash`	$1.10M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.60M	USD	Point-in-time
Cash	`Cash`	$959.00K	USD	Point-in-time
Cash	`Cash`	$1.22M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts and returns and discounts of $252,000 and $253,000, respectively	`AccountsReceivableNetCurrent`	$2.50M	USD	Point-in-time
Long term financing obligation, discount	`DebtInstrumentUnamortizedDiscountPremiumNet`	$1.03M	USD	Point-in-time
Long term financing obligation, discount	`DebtInstrumentUnamortizedDiscountPremiumNet`	$1.02M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts and returns and discounts of $252,000 and $253,000, respectively	`AccountsReceivableNetCurrent`	$2.98M	USD	Point-in-time
Series A Convertible Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Inventory, net of reserve for obsolescence of $75,000 and $90,000, respectively	`InventoryNet`	$6.31M	USD	Point-in-time
Series A Convertible Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Inventory, net of reserve for obsolescence of $75,000 and $90,000, respectively	`InventoryNet`	$8.36M	USD	Point-in-time
Prepaid inventory	`Supplies`	$1.29M	USD	Point-in-time
Prepaid inventory	`Supplies`	$813.00K	USD	Point-in-time
Series A Convertible Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Series A Convertible Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Series A Convertible Preferred stock, shares issued	`PreferredStockSharesIssued`	9,411.00	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$529.00K	USD	Point-in-time
Series A Convertible Preferred stock, shares issued	`PreferredStockSharesIssued`	9,411.00	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$447.00K	USD	Point-in-time
Series A Convertible Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	9,411.00	shares	Point-in-time
Series A Convertible Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	9,411.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$13.90M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$11.50M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $3,604,000 and $3,405,000, respectively	`PropertyPlantAndEquipmentNet`	$4.57M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $3,604,000 and $3,405,000, respectively	`PropertyPlantAndEquipmentNet`	$5.04M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	19.50M	shares	Point-in-time
Brand names	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.03M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	19.50M	shares	Point-in-time
Brand names	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.03M	USD	Point-in-time
Total assets	`Assets`	$19.96M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.07M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.08M	shares	Point-in-time
Total assets	`Assets`	$17.10M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.08M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.89M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$130.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$141.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.01M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$4.11M	USD	Point-in-time
Current portion of long term financing obligation	`LongTermDebtCurrent`	$134.00K	USD	Point-in-time
Current portion of long term financing obligation	`LongTermDebtCurrent`	$134.00K	USD	Point-in-time
Current portion of capital leases payable	`CapitalLeaseObligationsCurrent`	$125.00K	USD	Point-in-time
Current portion of capital leases payable	`CapitalLeaseObligationsCurrent`	$125.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.67M	USD	Point-in-time
Long term financing obligation, less current portion, net of discount of $1,017,000 and $1,031,000, respectively	`LongTermDebtNoncurrent`	$1.51M	USD	Point-in-time
Long term financing obligation, less current portion, net of discount of $1,017,000 and $1,031,000, respectively	`LongTermDebtNoncurrent`	$1.49M	USD	Point-in-time
Capital leases payable, less current portion	`CapitalLeaseObligationsNoncurrent`	$476.00K	USD	Point-in-time
Capital leases payable, less current portion	`CapitalLeaseObligationsNoncurrent`	$443.00K	USD	Point-in-time
Capital expansion loan	`LongTermLoansPayable`	$1.23M	USD	Point-in-time
Capital expansion loan	`LongTermLoansPayable`	$672.00K	USD	Point-in-time
Term loan	`LongTermLoansFromBank`	$1.50M	USD	Point-in-time
Term loan	`LongTermLoansFromBank`	$1.50M	USD	Point-in-time
Total Liabilities	`Liabilities`	$13.45M	USD	Point-in-time
Total Liabilities	`Liabilities`	$16.34M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A Convertible Preferred stock, $10 par value, 500,000 shares authorized, 9,411 shares issued and outstanding	`PreferredStockValue`	$94.00K	USD	Point-in-time
Series A Convertible Preferred stock, $10 par value, 500,000 shares authorized, 9,411 shares issued and outstanding	`PreferredStockValue`	$94.00K	USD	Point-in-time
Common stock, $.0001 par value, 19,500,000 shares authorized, 13,081,947 and 13,068,058 shares issued and outstanding, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $.0001 par value, 19,500,000 shares authorized, 13,081,947 and 13,068,058 shares issued and outstanding, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$26.54M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$26.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.74M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.65M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$17.10M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$19.96M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$8.95M	USD	1 Quarter
Sales	`SalesRevenueNet`	$10.67M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$6.05M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$7.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.26M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.90M	USD	1 Quarter
Delivery and handling expenses	`ShippingHandlingAndTransportationCosts`	$1.17M	USD	1 Quarter
Delivery and handling expenses	`ShippingHandlingAndTransportationCosts`	$895.00K	USD	1 Quarter
Selling and marketing expense	`SellingAndMarketingExpense`	$1.19M	USD	1 Quarter
Selling and marketing expense	`SellingAndMarketingExpense`	$1.07M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$968.00K	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`	$3.33M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-71.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-32.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$188.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$200.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-271.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-220.00K	USD	1 Quarter
Loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted average number of shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.97M	shares	1 Quarter
Weighted average number of shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.07M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-271.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-220.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$213.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$181.00K	USD	1 Quarter
Fair value of stock options issued to employees	`FairValueOptionChangesInFairValueGainLoss1`	$-99.00K	USD	1 Quarter
Fair value of stock options issued to employees	`FairValueOptionChangesInFairValueGainLoss1`	$-212.00K	USD	1 Quarter
(Decrease) increase in allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$14.00K	USD	1 Quarter
(Decrease) increase in allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$-1.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$479.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$404.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-217.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.05M	USD	1 Quarter
Prepaid inventory	`IncreaseDecreaseInPrepaidInventory`	$-474.00K	USD	1 Quarter
Prepaid inventory	`IncreaseDecreaseInPrepaidInventory`	$117.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-168.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.27M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$356.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-10.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$11.00K	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`	$-458.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$73.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$351.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-73.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-351.00K	USD	1 Quarter
Proceeds from stock option and warrant exercises	`ProceedsFromWarrantExercises`	$31.00K	USD	1 Quarter
Proceeds from stock option and warrant exercises	`ProceedsFromWarrantExercises`	$20.00K	USD	1 Quarter
Payment of deferred financing fees	`PaymentsOfFinancingCosts`	$7.00K	USD	1 Quarter
Payment of deferred financing fees	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Principal repayments on long term financing obligation	`RepaymentsOfLongTermDebt`	$31.00K	USD	1 Quarter
Principal repayments on long term financing obligation	`RepaymentsOfLongTermDebt`	$25.00K	USD	1 Quarter
Principal repayments on capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$33.00K	USD	1 Quarter
Principal repayments on capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$30.00K	USD	1 Quarter
Principal repayments on term loan	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Principal repayments on term loan	`RepaymentsOfNotesPayable`	$39.00K	USD	1 Quarter
Net draw down (repayment) on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$69.00K	USD	1 Quarter
Net draw down (repayment) on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.10M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.07M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.00K	USD	1 Quarter
Net (decrease) increase in cash	`CashPeriodIncreaseDecrease`	-	USD	1 Quarter
Net (decrease) increase in cash	`CashPeriodIncreaseDecrease`	$262.00K	USD	1 Quarter
Cash at beginning of period	`Cash`	$1.10M	USD	Point-in-time
Cash at beginning of period	`Cash`	$1.10M	USD	Point-in-time
Cash at beginning of period	`Cash`	$959.00K	USD	Point-in-time
Cash at beginning of period	`Cash`	$1.22M	USD	Point-in-time
Cash at end of period	`Cash`	$1.10M	USD	Point-in-time
Cash at end of period	`Cash`	$1.10M	USD	Point-in-time
Cash at end of period	`Cash`	$959.00K	USD	Point-in-time
Cash at end of period	`Cash`	$1.22M	USD	Point-in-time
Interest	`InterestPaidNet`	$188.00K	USD	1 Quarter
Interest	`InterestPaidNet`	$201.00K	USD	1 Quarter
Property and equipment acquired through capital expansion loan	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	-	USD	1 Quarter
Property and equipment acquired through capital expansion loan	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$311.00K	USD	1 Quarter
Other current assets acquired through capital expansion loan	`NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1`	-	USD	1 Quarter
Other current assets acquired through capital expansion loan	`NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1`	$250.00K	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$3.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.65M	USD	Point-in-time
Common shares issued upon exercise of warrants	`CommonSharesIssuedUponExerciseOfWarrants`	$31.00K	USD	1 Quarter
Fair value vesting of options issued for services	`ShareBasedGoodsAndNonemployeeServicesTransactionStockholdersEquity`	$212.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-271.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-220.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$3.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.65M	USD	Point-in-time

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