10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001493152-16-009854 |
| Period End Date | 20160331 |
| Filing Date | 20160516 |
| Fiscal Year | 2016 |
| Fiscal Period | Q1 |
| XBRL Instance | penc-20160331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
63 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Preferred stock, par value |
PreferredStockParOrStatedValuePerShare
|
$0.00 | 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 |
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
20.00M | shares | Point-in-time |
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
20.00M | shares | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$173.73K | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$135.21K | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$262.52K | USD | Point-in-time |
| Preferred stock, shares issued |
PreferredStockSharesIssued
|
0.00 | shares | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$464.74K | USD | Point-in-time |
| Preferred stock, shares issued |
PreferredStockSharesIssued
|
0.00 | shares | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$1.10M | USD | Point-in-time |
| Preferred stock, shares outstanding |
PreferredStockSharesOutstanding
|
0.00 | shares | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$947.33K | USD | Point-in-time |
| Preferred stock, shares outstanding |
PreferredStockSharesOutstanding
|
0.00 | shares | Point-in-time |
| Common stock, par value |
CommonStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Accounts receivable - related party |
AccountsReceivableRelatedPartiesCurrent
|
$11.98K | USD | Point-in-time |
| Accounts receivable - related party |
AccountsReceivableRelatedPartiesCurrent
|
$13.43K | USD | Point-in-time |
| Inventory |
InventoryNet
|
$1.20M | USD | Point-in-time |
| Inventory |
InventoryNet
|
$1.08M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$192.62K | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$194.95K | USD | Point-in-time |
| Total Current Assets |
AssetsCurrent
|
$2.65M | USD | Point-in-time |
| Total Current Assets |
AssetsCurrent
|
$2.49M | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$897.36K | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$850.18K | USD | Point-in-time |
| Other assets |
OtherAssets
|
$31.32K | USD | Point-in-time |
| Other assets |
OtherAssets
|
$32.10K | USD | Point-in-time |
| Total Other Assets |
OtherAssetsNoncurrent
|
$929.46K | USD | Point-in-time |
| Total Other Assets |
OtherAssetsNoncurrent
|
$881.50K | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$3.58M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$3.37M | USD | Point-in-time |
| Bank revolving line of credit |
LinesOfCreditCurrent
|
$1.25M | USD | Point-in-time |
| Bank revolving line of credit |
LinesOfCreditCurrent
|
$1.29M | USD | Point-in-time |
| Current portion of notes payable |
NotesPayableCurrent
|
$74.38K | USD | Point-in-time |
| Current portion of notes payable |
NotesPayableCurrent
|
$74.38K | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.28M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.26M | USD | Point-in-time |
| Accounts payable - related parties |
AccountsPayableRelatedPartiesCurrent
|
$85.96K | USD | Point-in-time |
| Accounts payable - related parties |
AccountsPayableRelatedPartiesCurrent
|
$27.06K | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrent
|
$739.44K | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrent
|
$871.10K | USD | Point-in-time |
| Deferred revenue |
DeferredRevenueCurrent
|
- | USD | Point-in-time |
| Deferred revenue |
DeferredRevenueCurrent
|
$21.69K | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$3.54M | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$3.43M | USD | Point-in-time |
| Notes payable, net of current portion |
LongTermNotesPayable
|
$293.54K | USD | Point-in-time |
| Notes payable, net of current portion |
LongTermNotesPayable
|
$312.14K | USD | Point-in-time |
| Total Long-term Liabilities |
LiabilitiesNoncurrent
|
$312.14K | USD | Point-in-time |
| Total Long-term Liabilities |
LiabilitiesNoncurrent
|
$293.54K | USD | Point-in-time |
| Total Liabilities |
Liabilities
|
$3.85M | USD | Point-in-time |
| Total Liabilities |
Liabilities
|
$3.72M | 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
|
$5.12M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$5.07M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-5.34M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-5.46M | USD | Point-in-time |
| Total Stockholders' Deficit |
StockholdersEquity
|
$-344.96K | USD | Point-in-time |
| Total Stockholders' Deficit |
StockholdersEquity
|
$-272.33K | USD | Point-in-time |
| Total Liabilities and Stockholders' Deficit |
LiabilitiesAndStockholdersEquity
|
$3.58M | USD | Point-in-time |
| Total Liabilities and Stockholders' Deficit |
LiabilitiesAndStockholdersEquity
|
$3.37M | USD | Point-in-time |
Income Statement
52 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Sales revenue from related parties |
RevenueFromRelatedParties
|
$47.69K | USD | 1 Quarter |
| Sales revenue from related parties |
RevenueFromRelatedParties
|
$44.83K | USD | 1 Quarter |
| Products (including related party sales of $47,692 and $44,827 for the three months ended March 31, 2016 and 2015, respectively) |
SalesRevenueGoodsNet
|
$1.69M | USD | 1 Quarter |
| Products (including related party sales of $47,692 and $44,827 for the three months ended March 31, 2016 and 2015, respectively) |
SalesRevenueGoodsNet
|
$2.44M | USD | 1 Quarter |
| Research and development services |
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
|
$630.43K | USD | 1 Quarter |
| Research and development services |
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
|
$285.74K | USD | 1 Quarter |
| Total Revenues |
Revenues
|
$1.98M | USD | 1 Quarter |
| Total Revenues |
Revenues
|
$3.07M | USD | 1 Quarter |
| Products |
CostOfGoodsSoldProduct
|
$1.41M | USD | 1 Quarter |
| Products |
CostOfGoodsSoldProduct
|
$934.93K | USD | 1 Quarter |
| Research and development services |
ContractRevenueCost
|
$313.11K | USD | 1 Quarter |
| Research and development services |
ContractRevenueCost
|
$508.38K | USD | 1 Quarter |
| Total Cost of Revenues |
CostOfGoodsSold
|
$1.92M | USD | 1 Quarter |
| Total Cost of Revenues |
CostOfGoodsSold
|
$1.25M | USD | 1 Quarter |
| GROSS PROFIT |
GrossProfit
|
$1.15M | USD | 1 Quarter |
| GROSS PROFIT |
GrossProfit
|
$731.12K | USD | 1 Quarter |
| Selling and marketing expenses |
SellingAndMarketingExpense
|
$47.37K | USD | 1 Quarter |
| Selling and marketing expenses |
SellingAndMarketingExpense
|
$82.21K | USD | 1 Quarter |
| Salaries, wages and related benefits |
SalariesWagesAndOfficersCompensation
|
$587.83K | USD | 1 Quarter |
| Salaries, wages and related benefits |
SalariesWagesAndOfficersCompensation
|
$413.74K | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$195.20K | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$85.76K | USD | 1 Quarter |
| Professional fees |
ProfessionalFees
|
$180.55K | USD | 1 Quarter |
| Professional fees |
ProfessionalFees
|
$106.36K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$266.39K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$223.17K | USD | 1 Quarter |
| Total Operating Expenses |
OperatingExpenses
|
$876.40K | USD | 1 Quarter |
| Total Operating Expenses |
OperatingExpenses
|
$1.31M | USD | 1 Quarter |
| LOSS FROM OPERATIONS |
OperatingIncomeLoss
|
$-159.55K | USD | 1 Quarter |
| LOSS FROM OPERATIONS |
OperatingIncomeLoss
|
$-145.27K | USD | 1 Quarter |
| Interest expenses |
InterestExpenseOther
|
$28.13K | USD | 1 Quarter |
| Interest expenses |
InterestExpenseOther
|
$27.73K | USD | 1 Quarter |
| Other income, net |
OtherIncome
|
$6.83K | USD | 1 Quarter |
| Other income, net |
OtherIncome
|
$56.31K | USD | 1 Quarter |
| Total Other Income/(Expense) |
NonoperatingIncomeExpense
|
$28.18K | USD | 1 Quarter |
| Total Other Income/(Expense) |
NonoperatingIncomeExpense
|
$-20.90K | USD | 1 Quarter |
| Loss before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$-180.45K | USD | 1 Quarter |
| Loss before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$-117.10K | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$2.84K | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$4.94K | USD | 1 Quarter |
| NET LOSS |
NetIncomeLoss
|
$-185.39K | USD | 1 Quarter |
| NET LOSS |
NetIncomeLoss
|
$-2.37M | USD | Annual |
| NET LOSS |
NetIncomeLoss
|
$-119.94K | USD | 1 Quarter |
| NET LOSS |
NetIncomeLoss
|
$-1.87M | USD | Annual |
| Basic |
EarningsPerShareBasic
|
$-0.06 | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$-0.04 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$-0.06 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$-0.04 | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
2.97M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
3.00M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
2.97M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
3.00M | shares | 1 Quarter |
Cash Flow Statement
66 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss |
NetIncomeLoss
|
$-185.39K | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-2.37M | USD | Annual |
| Net loss |
NetIncomeLoss
|
$-119.94K | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-1.87M | USD | Annual |
| Change in inventory obsolescence reserve |
InventoryWriteDown
|
$14.01K | USD | 1 Quarter |
| Change in inventory obsolescence reserve |
InventoryWriteDown
|
$-6.65K | USD | 1 Quarter |
| Depreciation and amortization expense |
DepreciationAndAmortization
|
$63.56K | USD | 1 Quarter |
| Depreciation and amortization expense |
DepreciationAndAmortization
|
$47.18K | 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 |
| Gain on sale of property and equipment |
GainLossOnSaleOfPropertyPlantEquipment
|
- | USD | 1 Quarter |
| Gain on sale of property and equipment |
GainLossOnSaleOfPropertyPlantEquipment
|
$21.87K | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$41.31K | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$47.31K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$262.10K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-153.02K | USD | 1 Quarter |
| Accounts receivable - related party |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$1.45K | USD | 1 Quarter |
| Accounts receivable - related party |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$-27.20K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$-191.07K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$135.20K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$45.15K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$-3.12K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$16.19K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-83.22K | USD | 1 Quarter |
| Accounts payable - related parties |
IncreaseDecreaseInAccountsPayableRelatedParties
|
$58.90K | USD | 1 Quarter |
| Accounts payable - related parties |
IncreaseDecreaseInAccountsPayableRelatedParties
|
- | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$-128.45K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$-18.58K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$1.26K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$-21.69K | USD | 1 Quarter |
| NET CASH USED IN OPERATING ACTIVITIES |
NetCashProvidedByUsedInOperatingActivities
|
$-92.06K | USD | 1 Quarter |
| NET CASH USED IN OPERATING ACTIVITIES |
NetCashProvidedByUsedInOperatingActivities
|
$-279.89K | USD | 1 Quarter |
| Proceeds from sale of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$21.87K | USD | 1 Quarter |
| Proceeds from sale of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
- | USD | 1 Quarter |
| Purchases of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
- | USD | 1 Quarter |
| Purchases of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$30.31K | USD | 1 Quarter |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES |
NetCashProvidedByUsedInInvestingActivities
|
$-30.31K | USD | 1 Quarter |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES |
NetCashProvidedByUsedInInvestingActivities
|
$21.87K | USD | 1 Quarter |
| Proceeds from bank lines of credit |
ProceedsFromLinesOfCredit
|
$2.07M | USD | 1 Quarter |
| Proceeds from bank lines of credit |
ProceedsFromLinesOfCredit
|
$1.67M | USD | 1 Quarter |
| Repayment of bank lines of credit |
RepaymentsOfLinesOfCredit
|
$2.21M | USD | 1 Quarter |
| Repayment of bank lines of credit |
RepaymentsOfLinesOfCredit
|
$1.71M | USD | 1 Quarter |
| Proceeds from bank loans |
ProceedsFromBankDebt
|
$165.26K | USD | 1 Quarter |
| Proceeds from bank loans |
ProceedsFromBankDebt
|
- | USD | 1 Quarter |
| Repayment of bank loans |
RepaymentsOfBankDebt
|
- | USD | 1 Quarter |
| Repayment of bank loans |
RepaymentsOfBankDebt
|
$18.60K | USD | 1 Quarter |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES |
NetCashProvidedByUsedInFinancingActivities
|
$19.20K | USD | 1 Quarter |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES |
NetCashProvidedByUsedInFinancingActivities
|
$-57.11K | USD | 1 Quarter |
| NET DECREASE IN CASH |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-127.31K | USD | 1 Quarter |
| NET DECREASE IN CASH |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-291.00K | USD | 1 Quarter |
| CASH, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$173.73K | USD | Point-in-time |
| CASH, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$135.21K | USD | Point-in-time |
| CASH, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$262.52K | 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
|
$135.21K | USD | Point-in-time |
| CASH, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$262.52K | USD | Point-in-time |
| CASH, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$464.74K | USD | Point-in-time |
| Interest |
InterestPaid
|
$28.13K | USD | 1 Quarter |
| Interest |
InterestPaid
|
$27.66K | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaidNet
|
$2.84K | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaidNet
|
$4.94K | USD | 1 Quarter |
| Common stock issued for convertible notes and accrued interest |
DebtConversionConvertedInstrumentAmount1
|
$13.72K | USD | 1 Quarter |
| Common stock issued for convertible notes and accrued interest |
DebtConversionConvertedInstrumentAmount1
|
- | 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.