10-Q Filing

NextPlat Corp CIK: 1058307 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-005348`
Period End Date	20170331
Filing Date	20170515
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	trkk-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 42 Cash Flow Statement 58

Balance Sheet 60 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, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$963.33K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$391.32K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$214.49K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$149.88K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$96.76K	USD	Point-in-time
Inventory	`InventoryNet`	$335.27K	USD	Point-in-time
Inventory	`InventoryNet`	$369.19K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$56.55K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$54.34K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	57.31M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$121.10K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$171.16K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	64.83M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$29.84K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	57.31M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$59.64K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	64.83M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$802.11K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$970.84K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.92M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.98M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$250.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$243.75K	USD	Point-in-time
Total assets	`Assets`	$3.13M	USD	Point-in-time
Total assets	`Assets`	$3.03M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$808.39K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$536.91K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.42K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.62K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$113.43K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$67.45K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$123.00	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$1.24K	USD	Point-in-time
Liabilities from discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$112.40K	USD	Point-in-time
Liabilities from discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$112.40K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$720.62K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.04M	USD	Point-in-time
Total Liabilities	`Liabilities`	$720.62K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.04M	USD	Point-in-time
Common Shares, $0.0001 par value; 750,000,000 shares authorized, 64,832,314 and 57,309,364 outstanding as of March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$5.73K	USD	Point-in-time
Common Shares, $0.0001 par value; 750,000,000 shares authorized, 64,832,314 and 57,309,364 outstanding as of March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$6.48K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.94M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.94M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-4.82M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-4.60M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-32.94K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-27.35K	USD	Point-in-time
Total stockholder equity	`StockholdersEquity`	$2.10M	USD	Point-in-time
Total stockholder equity	`StockholdersEquity`	$2.31M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.03M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.13M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.38M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.30M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$856.92K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.07M	USD	1 Quarter
Gross profit	`GrossProfit`	$314.58K	USD	1 Quarter
Gross profit	`GrossProfit`	$438.34K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$184.78K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$155.25K	USD	1 Quarter
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$173.85K	USD	1 Quarter
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$152.95K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$148.86K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$300.57K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$75.98K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$82.82K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$533.04K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$742.02K	USD	1 Quarter
(Loss) before other expenses and income taxes	`OperatingIncomeLoss`	$-303.68K	USD	1 Quarter
(Loss) before other expenses and income taxes	`OperatingIncomeLoss`	$-218.46K	USD	1 Quarter
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	$-464.50K	USD	1 Quarter
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	$-1.11K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$-75.88K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$-218.00	USD	1 Quarter
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$25.00K	USD	1 Quarter
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$1.69K	USD	1 Quarter
Total other (income) expense	`OtherNonoperatingIncomeExpense`	$-363.62K	USD	1 Quarter
Total other (income) expense	`OtherNonoperatingIncomeExpense`	$798.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$59.95K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-219.26K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$59.95K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-219.26K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$5.59K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$2.04K	USD	1 Quarter
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$61.98K	USD	1 Quarter
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$-213.67K	USD	1 Quarter
Weighted average number of common shares outstanding- basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.71M	shares	1 Quarter
Weighted average number of common shares outstanding- basic	`WeightedAverageNumberOfSharesOutstandingBasic`	62.20M	shares	1 Quarter
Weighted average number of common shares outstanding- diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.20M	shares	1 Quarter
Weighted average number of common shares outstanding- diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.10M	shares	1 Quarter
Basic net income (loss) per share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic net income (loss) per share	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted net income (loss) per share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted net income (loss) per share	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$59.95K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-219.26K	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-464.50K	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-1.11K	USD	1 Quarter
Depreciation expense	`Depreciation`	$69.53K	USD	1 Quarter
Depreciation expense	`Depreciation`	$69.73K	USD	1 Quarter
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$6.25K	USD	1 Quarter
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$6.25K	USD	1 Quarter
Amortization of notes payable discount	`AmortizationOfFinancingCostsAndDiscounts`	$75.63K	USD	1 Quarter
Amortization of notes payable discount	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	1 Quarter
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services	`OtherDepreciationAndAmortization`	$74.09K	USD	1 Quarter
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services	`OtherDepreciationAndAmortization`	-	USD	1 Quarter
Imputed interest	`ImputedInterest`	$252.00	USD	1 Quarter
Imputed interest	`ImputedInterest`	$218.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$53.12K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$118.92K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$61.14K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$33.92K	USD	1 Quarter
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$-9.40K	USD	1 Quarter
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$2.21K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-50.07K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$130.58K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$29.80K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.68K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.27K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$301.48K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$6.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-1.20K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-469.47K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$87.12K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.32K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.93K	USD	1 Quarter
Net (cash used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.93K	USD	1 Quarter
Net (cash used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.32K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$75.63K	USD	1 Quarter
Proceeds (repayments) of note payable, related party, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$15.97K	USD	1 Quarter
Proceeds (repayments) of note payable, related party, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-25.63K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-101.26K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.97K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.04K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$5.59K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-572.01K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$99.76K	USD	1 Quarter
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$963.33K	USD	Point-in-time
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$391.32K	USD	Point-in-time
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$214.49K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$963.33K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$391.32K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$214.49K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	1 Quarter
Interest	`InterestPaidNet`	-	USD	1 Quarter
Income tax	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income tax	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Common stock issued for prepaid services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$100.00K	USD	1 Quarter
Common stock issued for prepaid services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter

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