10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001493152-15-001874 |
| Period End Date | 20150331 |
| Filing Date | 20150512 |
| Fiscal Year | 2015 |
| Fiscal Period | Q1 |
| XBRL Instance | penc-20150331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
64 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$173.73K | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$100.37K | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$230.17K | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$464.74K | USD | Point-in-time |
| Preferred stock, par value |
PreferredStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Preferred stock, par value |
PreferredStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
20.00M | shares | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$1.03M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$1.30M | USD | Point-in-time |
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
20.00M | shares | Point-in-time |
| Accounts receivable - related party |
AccountsReceivableRelatedPartiesCurrent
|
$11.04K | USD | Point-in-time |
| Accounts receivable - related party |
AccountsReceivableRelatedPartiesCurrent
|
$38.25K | USD | Point-in-time |
| Preferred stock, shares issued |
PreferredStockSharesIssued
|
- | shares | Point-in-time |
| Preferred stock, shares issued |
PreferredStockSharesIssued
|
- | shares | Point-in-time |
| Inventory |
InventoryNet
|
$1.56M | USD | Point-in-time |
| Preferred stock, shares outstanding |
PreferredStockSharesOutstanding
|
- | shares | Point-in-time |
| Inventory |
InventoryNet
|
$1.37M | USD | Point-in-time |
| Preferred stock, shares outstanding |
PreferredStockSharesOutstanding
|
- | shares | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$246.98K | USD | Point-in-time |
| Common stock, par value |
CommonStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$200.08K | USD | Point-in-time |
| Total Current Assets |
AssetsCurrent
|
$3.29M | USD | Point-in-time |
| Total Current Assets |
AssetsCurrent
|
$3.10M | USD | Point-in-time |
| Common stock, shares authorized |
CommonStockSharesAuthorized
|
1.80B | shares | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$830.42K | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$850.85K | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$226.52K | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$239.34K | USD | Point-in-time |
| Other assets |
OtherAssets
|
$41.84K | USD | Point-in-time |
| Other assets |
OtherAssets
|
$40.09K | USD | Point-in-time |
| Total Other Assets |
OtherAssetsNoncurrent
|
$1.13M | USD | Point-in-time |
| Total Other Assets |
OtherAssetsNoncurrent
|
$1.10M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$4.20M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$4.43M | USD | Point-in-time |
| Bank revolving line of credit |
LinesOfCreditCurrent
|
$773.34K | USD | Point-in-time |
| Bank revolving line of credit |
LinesOfCreditCurrent
|
$627.28K | USD | Point-in-time |
| Current portion of note payable |
ShortTermNonBankLoansAndNotesPayable
|
$27.54K | USD | Point-in-time |
| Current portion of note payable |
ShortTermNonBankLoansAndNotesPayable
|
- | USD | Point-in-time |
| Convertible notes payable, net |
ConvertibleNotesPayableCurrent
|
- | USD | Point-in-time |
| Convertible notes payable, net |
ConvertibleNotesPayableCurrent
|
$13.33K | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.43M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.34M | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrent
|
$819.12K | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrent
|
$964.59K | USD | Point-in-time |
| Deferred revenue |
DeferredRevenueCurrent
|
$30.05K | USD | Point-in-time |
| Deferred revenue |
DeferredRevenueCurrent
|
$28.79K | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$2.85M | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$3.21M | USD | Point-in-time |
| Note payable, net of current portion |
LongTermNotesPayable
|
$137.72K | USD | Point-in-time |
| Note payable, net of current portion |
LongTermNotesPayable
|
- | USD | Point-in-time |
| Total Long-term Liabilities |
LiabilitiesNoncurrent
|
$137.72K | USD | Point-in-time |
| Total Long-term Liabilities |
LiabilitiesNoncurrent
|
- | USD | Point-in-time |
| Total Liabilities |
Liabilities
|
$3.21M | USD | Point-in-time |
| Total Liabilities |
Liabilities
|
$2.98M | USD | Point-in-time |
| Preferred stock, $.0001 par value, 20,000,000 shares authorized; No shares issued and outstanding |
PreferredStockValue
|
- | USD | Point-in-time |
| Preferred stock, $.0001 par value, 20,000,000 shares authorized; No shares issued and outstanding |
PreferredStockValue
|
- | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$4.64M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$4.82M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-3.47M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-3.66M | USD | Point-in-time |
| Total Stockholders' Equity |
StockholdersEquity
|
$1.21M | USD | Point-in-time |
| Total Stockholders' Equity |
StockholdersEquity
|
$1.22M | USD | Point-in-time |
| Total Liabilities and Stockholders' Equity |
LiabilitiesAndStockholdersEquity
|
$4.43M | USD | Point-in-time |
| Total Liabilities and Stockholders' Equity |
LiabilitiesAndStockholdersEquity
|
$4.20M | USD | Point-in-time |
Income Statement
56 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Sales revenue from related parties |
RevenueFromRelatedParties
|
$82.69K | USD | 1 Quarter |
| Sales revenue from related parties |
RevenueFromRelatedParties
|
$44.83K | USD | 1 Quarter |
| Products (including related party sales of $44,827 and $82,685 for the three months ended March 31, 2015 and 2014, respectively) |
SalesRevenueGoodsNet
|
$2.77M | USD | 1 Quarter |
| Products (including related party sales of $44,827 and $82,685 for the three months ended March 31, 2015 and 2014, respectively) |
SalesRevenueGoodsNet
|
$2.44M | USD | 1 Quarter |
| Research and development services |
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
|
$630.43K | USD | 1 Quarter |
| Research and development services |
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
|
- | USD | 1 Quarter |
| Total Revenues |
Revenues
|
$2.77M | USD | 1 Quarter |
| Total Revenues |
Revenues
|
$3.07M | USD | 1 Quarter |
| Products |
CostOfGoodsSold
|
$1.45M | USD | 1 Quarter |
| Products |
CostOfGoodsSold
|
$1.41M | USD | 1 Quarter |
| Research and development services |
SalesRevenueServicesNet
|
- | USD | 1 Quarter |
| Research and development services |
SalesRevenueServicesNet
|
$-508.38K | USD | 1 Quarter |
| Total Cost of Revenues |
CostOfGoodsSoldGross
|
$1.45M | USD | 1 Quarter |
| Total Cost of Revenues |
CostOfGoodsSoldGross
|
$1.92M | USD | 1 Quarter |
| GROSS PROFIT |
GrossProfit
|
$1.15M | USD | 1 Quarter |
| GROSS PROFIT |
GrossProfit
|
$1.32M | USD | 1 Quarter |
| Selling and marketing expenses |
SellingAndMarketingExpense
|
$82.21K | USD | 1 Quarter |
| Selling and marketing expenses |
SellingAndMarketingExpense
|
$73.52K | USD | 1 Quarter |
| Salaries, wages and contract labor |
SalariesWagesAndOfficersCompensation
|
$587.83K | USD | 1 Quarter |
| Salaries, wages and contract labor |
SalariesWagesAndOfficersCompensation
|
$433.35K | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$150.74K | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$195.20K | USD | 1 Quarter |
| Professional fees |
ProfessionalFees
|
$171.47K | USD | 1 Quarter |
| Professional fees |
ProfessionalFees
|
$180.55K | USD | 1 Quarter |
| General and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$266.39K | USD | 1 Quarter |
| General and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$166.50K | USD | 1 Quarter |
| Total Operating Expenses |
OperatingExpenses
|
$1.31M | USD | 1 Quarter |
| Total Operating Expenses |
OperatingExpenses
|
$995.58K | USD | 1 Quarter |
| (LOSS) INCOME FROM OPERATIONS |
OperatingIncomeLoss
|
$-159.55K | USD | 1 Quarter |
| (LOSS) INCOME FROM OPERATIONS |
OperatingIncomeLoss
|
$325.69K | USD | 1 Quarter |
| Interest income |
InterestIncomeOther
|
- | USD | 1 Quarter |
| Interest income |
InterestIncomeOther
|
- | USD | 1 Quarter |
| Interest expenses |
InterestExpenseOther
|
$27.73K | USD | 1 Quarter |
| Interest expenses |
InterestExpenseOther
|
$7.33K | USD | 1 Quarter |
| Other income, net |
OtherNonoperatingIncomeExpense
|
$6.83K | USD | 1 Quarter |
| Other income, net |
OtherNonoperatingIncomeExpense
|
$13.00 | USD | 1 Quarter |
| Total Other Income/(Expense) |
NonoperatingIncomeExpense
|
$-20.90K | USD | 1 Quarter |
| Total Other Income/(Expense) |
NonoperatingIncomeExpense
|
$-7.32K | USD | 1 Quarter |
| (Loss) Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$-180.45K | USD | 1 Quarter |
| (Loss) Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$318.37K | USD | 1 Quarter |
| Income tax benefit (expense) |
IncomeTaxExpenseBenefit
|
$4.94K | USD | 1 Quarter |
| Income tax benefit (expense) |
IncomeTaxExpenseBenefit
|
$47.61K | USD | 1 Quarter |
| NET (LOSS) INCOME |
ProfitLoss
|
$270.76K | USD | 1 Quarter |
| NET (LOSS) INCOME |
ProfitLoss
|
$-185.39K | USD | 1 Quarter |
| Net income attributable to former non-controlling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$39.31K | USD | 1 Quarter |
| Net income attributable to former non-controlling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
- | USD | 1 Quarter |
| NET (LOSS) INCOME ATTRIBUTABLE TO PEN INC. |
NetIncomeLoss
|
$-185.39K | USD | 1 Quarter |
| NET (LOSS) INCOME ATTRIBUTABLE TO PEN INC. |
NetIncomeLoss
|
$231.46K | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
- | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
- | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
- | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
- | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
325.64M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
534.22M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
534.22M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
325.64M | shares | 1 Quarter |
Cash Flow Statement
68 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net (loss) income |
ProfitLoss
|
$270.76K | USD | 1 Quarter |
| Net (loss) income |
ProfitLoss
|
$-185.39K | USD | 1 Quarter |
| Change in inventory obsolescence reserve |
ChangeInInventoryObsolescenceReserve
|
$-6.65K | USD | 1 Quarter |
| Change in inventory obsolescence reserve |
ChangeInInventoryObsolescenceReserve
|
$63.73K | USD | 1 Quarter |
| Bad debt expense |
ProvisionForDoubtfulAccounts
|
- | USD | 1 Quarter |
| Bad debt expense |
ProvisionForDoubtfulAccounts
|
- | USD | 1 Quarter |
| Depreciation and amortization expense |
DepreciationAndAmortization
|
$63.56K | USD | 1 Quarter |
| Depreciation and amortization expense |
DepreciationAndAmortization
|
$42.18K | USD | 1 Quarter |
| Amortization of deferred lease incentives |
AmortizationOfLeaseIncentives
|
$-3.21K | USD | 1 Quarter |
| Amortization of deferred lease incentives |
AmortizationOfLeaseIncentives
|
$-3.21K | USD | 1 Quarter |
| Change in value of stock appreciation rights |
ChangeInValueOfStockAppreciationRighta
|
- | USD | 1 Quarter |
| Change in value of stock appreciation rights |
ChangeInValueOfStockAppreciationRighta
|
- | USD | 1 Quarter |
| Change in value of equity credits |
ChangeInValueOfEquityCredits
|
- | USD | 1 Quarter |
| Change in value of equity credits |
ChangeInValueOfEquityCredits
|
- | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
- | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$41.31K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$103.51K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$262.10K | USD | 1 Quarter |
| Accounts receivable related party |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$-27.20K | USD | 1 Quarter |
| Accounts receivable related party |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$18.29K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$-33.47K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$-191.07K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$24.13K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$45.15K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-83.22K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-377.22K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$-18.58K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$10.92K | USD | 1 Quarter |
| Income taxes payable |
IncreaseDecreaseInAccruedTaxesPayable
|
- | USD | 1 Quarter |
| Income taxes payable |
IncreaseDecreaseInAccruedTaxesPayable
|
$47.61K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
- | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$1.26K | USD | 1 Quarter |
| NET CASH USED IN OPERATING ACTIVITIES |
NetCashProvidedByUsedInOperatingActivities
|
$-57.68K | USD | 1 Quarter |
| NET CASH USED IN OPERATING ACTIVITIES |
NetCashProvidedByUsedInOperatingActivities
|
$-279.89K | USD | 1 Quarter |
| Cash acquired in acquisition |
CashAcquiredFromAcquisition
|
- | USD | 1 Quarter |
| Cash acquired in acquisition |
CashAcquiredFromAcquisition
|
- | USD | 1 Quarter |
| Purchases of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$30.31K | USD | 1 Quarter |
| Purchases of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$2.51K | USD | 1 Quarter |
| NET CASH USED IN INVESTING ACTIVITIES |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-30.31K | USD | 1 Quarter |
| NET CASH USED IN INVESTING ACTIVITIES |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-2.51K | USD | 1 Quarter |
| Proceeds from bank line of credit |
ProceedsFromLinesOfCredit
|
$200.00K | USD | 1 Quarter |
| Proceeds from bank line of credit |
ProceedsFromLinesOfCredit
|
$2.07M | USD | 1 Quarter |
| Repayment of bank lines of credit |
RepaymentsOfLinesOfCredit
|
- | USD | 1 Quarter |
| Repayment of bank lines of credit |
RepaymentsOfLinesOfCredit
|
$2.21M | USD | 1 Quarter |
| Proceeds from bank loan |
ProceedsFromBankDebt
|
$165.26K | USD | 1 Quarter |
| Proceeds from bank loan |
ProceedsFromBankDebt
|
- | USD | 1 Quarter |
| Repayment of bank loans |
RepaymentsOfBankDebt
|
- | USD | 1 Quarter |
| Repayment of bank loans |
RepaymentsOfBankDebt
|
$10.00K | USD | 1 Quarter |
| NET CASH USED IN FINANCING ACTIVITIES |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$190.00K | USD | 1 Quarter |
| NET CASH USED IN FINANCING ACTIVITIES |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$19.20K | USD | 1 Quarter |
| NET (DECREASE) INCREASE IN CASH |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$129.80K | USD | 1 Quarter |
| NET (DECREASE) INCREASE IN CASH |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-291.00K | USD | 1 Quarter |
| CASH, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$173.73K | USD | Point-in-time |
| CASH, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$100.37K | USD | Point-in-time |
| CASH, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$230.17K | USD | Point-in-time |
| CASH, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$464.74K | USD | Point-in-time |
| CASH, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$173.73K | USD | Point-in-time |
| CASH, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$100.37K | USD | Point-in-time |
| CASH, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$230.17K | USD | Point-in-time |
| CASH, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$464.74K | USD | Point-in-time |
| Interest |
InterestPaid
|
$27.66K | USD | 1 Quarter |
| Interest |
InterestPaid
|
$4.80K | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaidNet
|
$4.94K | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
| Common stock issued for convertible notes and accrued interest |
CommonStockIssuedForConvertibleNotesAndAccruedInterest
|
$13.72K | USD | 1 Quarter |
| Common stock issued for convertible notes and accrued interest |
CommonStockIssuedForConvertibleNotesAndAccruedInterest
|
- | USD | 1 Quarter |
| Common stock issued for accrued expenses |
StockIssued1
|
$123.28K | USD | 1 Quarter |
| Common stock issued for accrued expenses |
StockIssued1
|
- | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.