10-K Filing

REED'S, INC. CIK: 1140215 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001493152-16-008215`
Period End Date	20151231
Filing Date	20160323
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	reed-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 32 Cash Flow Statement 66 Stockholders Equity 21

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts, returns and discounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$356.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts, returns and discounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$253.00K	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`	$1.82M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$4.22M	USD	Point-in-time
Cash	`Cash`	$959.00K	USD	Point-in-time
Long term financing obligation, net of discount	`DebtInstrumentUnamortizedDiscountPremiumNet`	$1.03M	USD	Point-in-time
Inventory, net of reserves of $290,000 and $90,000, respectively	`InventoryNet`	$6.31M	USD	Point-in-time
Long term financing obligation, net of discount	`DebtInstrumentUnamortizedDiscountPremiumNet`	$935.00K	USD	Point-in-time
Inventory, net of reserves of $290,000 and $90,000, respectively	`InventoryNet`	$7.93M	USD	Point-in-time
Term loan net of discount	`TermLoanPayableUnamortizedDiscountNet`	$132.00K	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts and returns and discounts of $356,000 and $253,000, respectively	`AccountsReceivableNetCurrent`	$2.89M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts and returns and discounts of $356,000 and $253,000, respectively	`AccountsReceivableNetCurrent`	$2.50M	USD	Point-in-time
Term loan net of discount	`TermLoanPayableUnamortizedDiscountNet`	-	USD	Point-in-time
Prepaid inventory	`Supplies`	$1.29M	USD	Point-in-time
Series A Convertible Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Series A Convertible Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Prepaid inventory	`Supplies`	$47.00K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$769.00K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$447.00K	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
Total Current Assets	`AssetsCurrent`	$13.45M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$11.50M	USD	Point-in-time
Series A Convertible Preferred stock, shares issued	`PreferredStockSharesIssued`	9,411.00	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $4,216,000 and $3,405,000, respectively	`PropertyPlantAndEquipmentNet`	$5.37M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $4,216,000 and $3,405,000, respectively	`PropertyPlantAndEquipmentNet`	$4.57M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Brand names	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.03M	USD	Point-in-time
Brand names	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.03M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$19.85M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	19.50M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	19.50M	shares	Point-in-time
Total assets	`Assets`	$17.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.16M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.16M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.89M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.46M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$168.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$130.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$4.44M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.01M	USD	Point-in-time
Current portion of long term financing obligation	`LongTermDebtCurrent`	$160.00K	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`	$153.00K	USD	Point-in-time
Term loans	`LoansPayableToBankCurrent`	$341.00K	USD	Point-in-time
Term loans	`LoansPayableToBankCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.72M	USD	Point-in-time
Long term financing obligation, less current portion, net of discount of $935,000 and $1,031,000, respectively	`LongTermDebtNoncurrent`	$1.44M	USD	Point-in-time
Long term financing obligation, less current portion, net of discount of $935,000 and $1,031,000, respectively	`LongTermDebtNoncurrent`	$1.51M	USD	Point-in-time
Capital leases payable, less current portion	`CapitalLeaseObligationsNoncurrent`	$476.00K	USD	Point-in-time
Capital leases payable, less current portion	`CapitalLeaseObligationsNoncurrent`	$490.00K	USD	Point-in-time
Capital Expansion Loan	`LongTermLoansPayable`	$1.54M	USD	Point-in-time
Capital Expansion Loan	`LongTermLoansPayable`	$672.00K	USD	Point-in-time
Term loan, less current portion, net of discount of $132,000 and $0, respectively	`LongTermLoansFromBank`	$1.50M	USD	Point-in-time
Term loan, less current portion, net of discount of $132,000 and $0, respectively	`LongTermLoansFromBank`	$2.87M	USD	Point-in-time
Total Liabilities	`Liabilities`	$19.07M	USD	Point-in-time
Total Liabilities	`Liabilities`	$13.45M	USD	Point-in-time
Series A Convertible Preferred stock, $10 par value, 500,000 shares authorized, 9,411 and 9,411 shares issued and outstanding, respectively	`PreferredStockValue`	$94.00K	USD	Point-in-time
Series A Convertible Preferred stock, $10 par value, 500,000 shares authorized, 9,411 and 9,411 shares issued and outstanding, respectively	`PreferredStockValue`	$94.00K	USD	Point-in-time
Common stock, $.0001 par value, 19,500,000 shares authorized, 13,160,860 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, 13,160,860 and 13,068,058 shares issued and outstanding, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$26.30M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$27.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$785.00K	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`	$19.85M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`SalesRevenueNet`	$45.95M	USD	Annual
Sales, net	`SalesRevenueNet`	$43.42M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$30.42M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$34.34M	USD	Annual
Gross profit	`GrossProfit`	$13.01M	USD	Annual
Gross profit	`GrossProfit`	$11.61M	USD	Annual
Delivery and handling expenses	`ShippingHandlingAndTransportationCosts`	$5.10M	USD	Annual
Delivery and handling expenses	`ShippingHandlingAndTransportationCosts`	$4.48M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$4.87M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$4.84M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.37M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.41M	USD	Annual
Total operating expenses	`OperatingExpenses`	$14.34M	USD	Annual
Total operating expenses	`OperatingExpenses`	$12.73M	USD	Annual
Income (Loss) from operations	`OperatingIncomeLoss`	$276.00K	USD	Annual
Income (Loss) from operations	`OperatingIncomeLoss`	$-2.73M	USD	Annual
Interest expense	`InterestExpense`	$1.03M	USD	Annual
Interest expense	`InterestExpense`	$1.23M	USD	Annual
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-752.00K	USD	Annual
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-3.96M	USD	Annual
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income taxes	`IncomeTaxExpenseBenefit`	$2.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-754.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.96M	USD	Annual
Preferred stock dividend	`PreferredStockDividendsIncomeStatementImpact`	$5.00K	USD	Annual
Preferred stock dividend	`PreferredStockDividendsIncomeStatementImpact`	$5.00K	USD	Annual
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-759.00K	USD	Annual
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.97M	USD	Annual
Loss per share attributable to common stockholders - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.30	USD	Annual
Loss per share attributable to common stockholders - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	Annual
Weighted average number of shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.04M	shares	Annual
Weighted average number of shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.15M	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-754.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.96M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$755.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$933.00K	USD	Annual
Fair value vesting of stock options issued to employees	`FairValueOptionChangesInFairValueGainLoss1`	$-877.00K	USD	Annual
Fair value vesting of stock options issued to employees	`FairValueOptionChangesInFairValueGainLoss1`	$-396.00K	USD	Annual
Fair value of common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-1.00K	USD	Annual
Fair value of common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-13.00K	USD	Annual
(Decrease) increase in allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$71.00K	USD	Annual
(Decrease) increase in allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$103.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$428.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$497.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$13.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$1.62M	USD	Annual
Prepaid inventory	`IncreaseDecreaseInPrepaidInventory`	$1.03M	USD	Annual
Prepaid inventory	`IncreaseDecreaseInPrepaidInventory`	$-1.24M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$25.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$269.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.28M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.56M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$38.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-6.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.35M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.02M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$330.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$532.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-532.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-330.00K	USD	Annual
Proceeds from stock option and warrant exercises	`ProceedsFromWarrantExercises`	$26.00K	USD	Annual
Proceeds from stock option and warrant exercises	`ProceedsFromWarrantExercises`	$75.00K	USD	Annual
Payments for deferred financing fees	`PaymentsOfFinancingCosts`	-	USD	Annual
Payments for deferred financing fees	`PaymentsOfFinancingCosts`	$7.00K	USD	Annual
Principal repayments on note term loan	`RepaymentsOfShortTermDebt`	-	USD	Annual
Principal repayments on note term loan	`RepaymentsOfShortTermDebt`	$150.00K	USD	Annual
Borrowing on term loan	`ProceedsFromShortTermDebt`	$1.00M	USD	Annual
Borrowing on term loan	`ProceedsFromShortTermDebt`	$1.50M	USD	Annual
Principal repayments on long term financing obligation	`RepaymentsOfLongTermDebt`	$111.00K	USD	Annual
Principal repayments on long term financing obligation	`RepaymentsOfLongTermDebt`	$134.00K	USD	Annual
Principal repayments on capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$138.00K	USD	Annual
Principal repayments on capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$77.00K	USD	Annual
Net borrowings (repayments) on existing line of credit	`ProceedsFromLongTermLinesOfCredit`	$1.43M	USD	Annual
Net borrowings (repayments) on existing line of credit	`ProceedsFromLongTermLinesOfCredit`	$-1.51M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.74M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-831.00K	USD	Annual
Net (decrease) in cash	`CashPeriodIncreaseDecrease`	$-145.00K	USD	Annual
Net (decrease) in cash	`CashPeriodIncreaseDecrease`	$857.00K	USD	Annual
Cash at beginning of year	`Cash`	$1.10M	USD	Point-in-time
Cash at beginning of year	`Cash`	$1.82M	USD	Point-in-time
Cash at beginning of year	`Cash`	$959.00K	USD	Point-in-time
Cash at end of year	`Cash`	$1.10M	USD	Point-in-time
Cash at end of year	`Cash`	$1.82M	USD	Point-in-time
Cash at end of year	`Cash`	$959.00K	USD	Point-in-time
Interest	`InterestPaidNet`	$693.00K	USD	Annual
Interest	`InterestPaidNet`	$1.19M	USD	Annual
Taxes	`IncomeTaxesPaid`	-	USD	Annual
Taxes	`IncomeTaxesPaid`	$2.00K	USD	Annual
Series B preferred stock dividend payable in common stock	`ConversionOfStockAmountConverted2`	$5.00K	USD	Annual
Series B preferred stock dividend payable in common stock	`ConversionOfStockAmountConverted2`	$5.00K	USD	Annual
Property and equipment acquired through capital lease obligation	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$493.00K	USD	Annual
Property and equipment acquired through capital lease obligation	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$179.00K	USD	Annual
Fair value of warrants granted as valuation discount	`FairValueAdjustmentOfWarrants`	$584.00K	USD	Annual
Fair value of warrants granted as valuation discount	`FairValueAdjustmentOfWarrants`	$141.00K	USD	Annual
Property and Equipment acquired through Capital Expansion loan	`PropertyAndEquipmentAcquiredThroughCapexLoan`	$915.00K	USD	Annual
Property and Equipment acquired through Capital Expansion loan	`PropertyAndEquipmentAcquiredThroughCapexLoan`	$672.00K	USD	Annual
Other current assets acquired through Capital Expansion loan	`NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1`	-	USD	Annual
Other current assets acquired through Capital Expansion loan	`NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1`	$297.00K	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$3.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$785.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.65M	USD	Point-in-time
Fair Value of common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-1.00K	USD	Annual
Fair Value of common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-13.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$26.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Exercise of stock options Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	216,134.00	shares	Annual
Exercise of stock options Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	135,833.00	shares	Annual
Exercise of stock warrants	`StockIssuedDuringPeriodValueWarrantsExercised`	$75.00K	USD	Annual
Fair value of warrants granted as valuation discount	`FairValueAdjustmentOfWarrants`	$584.00K	USD	Annual
Fair value of warrants granted as valuation discount	`FairValueAdjustmentOfWarrants`	$141.00K	USD	Annual
Fair value vesting of options issued to employees	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$877.00K	USD	Annual
Fair value vesting of options issued to employees	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$396.00K	USD	Annual
Series A Preferred Stock Dividend	`DividendsPreferredStockStock`	-	USD	Annual
Series A Preferred Stock Dividend	`DividendsPreferredStockStock`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-754.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.96M	USD	Annual
Balance	`StockholdersEquity`	$3.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$785.00K	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.