10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001493152-17-005737 |
| Period End Date | 20170331 |
| Filing Date | 20170522 |
| Fiscal Year | 2017 |
| Fiscal Period | Q1 |
| XBRL Instance | penc-20170331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
65 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
|
$305.40K | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$135.21K | USD | Point-in-time |
| Preferred stock, shares issued |
PreferredStockSharesIssued
|
- | shares | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$262.52K | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$189.13K | USD | Point-in-time |
| Preferred stock, shares issued |
PreferredStockSharesIssued
|
- | shares | Point-in-time |
| Preferred stock, shares outstanding |
PreferredStockSharesOutstanding
|
- | shares | Point-in-time |
| Preferred stock, shares outstanding |
PreferredStockSharesOutstanding
|
- | shares | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$919.18K | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$722.85K | USD | Point-in-time |
| Accounts receivable - related party |
AccountsReceivableRelatedPartiesCurrent
|
$32.40K | USD | Point-in-time |
| Accounts receivable - related party |
AccountsReceivableRelatedPartiesCurrent
|
$10.47K | 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 |
| Inventory |
InventoryNet
|
$1.04M | USD | Point-in-time |
| Common stock, shares authorized |
CommonStockSharesAuthorized
|
10.00M | shares | Point-in-time |
| Inventory |
InventoryNet
|
$1.02M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$87.50K | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$75.08K | USD | Point-in-time |
| Total Current Assets |
AssetsCurrent
|
$2.36M | USD | Point-in-time |
| Total Current Assets |
AssetsCurrent
|
$2.03M | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$671.81K | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$709.63K | USD | Point-in-time |
| Other assets |
OtherAssets
|
$51.08K | USD | Point-in-time |
| Other assets |
OtherAssets
|
$77.79K | USD | Point-in-time |
| Total Other Assets |
OtherAssetsNoncurrent
|
$760.71K | USD | Point-in-time |
| Total Other Assets |
OtherAssetsNoncurrent
|
$749.61K | USD | Point-in-time |
| Total Assets |
Assets
|
$2.79M | USD | Point-in-time |
| Total Assets |
Assets
|
$3.11M | USD | Point-in-time |
| Bank revolving line of credit |
LinesOfCreditCurrent
|
$1.01M | USD | Point-in-time |
| Bank revolving line of credit |
LinesOfCreditCurrent
|
$979.69K | USD | Point-in-time |
| Current portion of notes payable |
NotesPayableCurrent
|
$87.99K | USD | Point-in-time |
| Current portion of notes payable |
NotesPayableCurrent
|
$90.45K | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.26M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.08M | USD | Point-in-time |
| Accounts payable - related parties |
AccountsPayableRelatedPartiesCurrent
|
$52.89K | USD | Point-in-time |
| Accounts payable - related parties |
AccountsPayableRelatedPartiesCurrent
|
$41.89K | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrent
|
$904.17K | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrent
|
$881.78K | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$3.28M | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$3.11M | USD | Point-in-time |
| Notes payable, net of current portion |
LongTermNotesPayable
|
$264.94K | USD | Point-in-time |
| Notes payable, net of current portion |
LongTermNotesPayable
|
$266.11K | USD | Point-in-time |
| Total Long-Term Liabilities |
LiabilitiesNoncurrent
|
$266.11K | USD | Point-in-time |
| Total Long-Term Liabilities |
LiabilitiesNoncurrent
|
$264.94K | USD | Point-in-time |
| Total Liabilities |
Liabilities
|
$3.54M | USD | Point-in-time |
| Total Liabilities |
Liabilities
|
$3.37M | USD | Point-in-time |
| Commitments and Contingencies (See Note 11) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and Contingencies (See Note 11) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Preferred stock, $0.0001 par value, 20,000,000 shares authorized; no shares issued and outstanding |
PreferredStockValue
|
- | USD | Point-in-time |
| Preferred stock, $0.0001 par value, 20,000,000 shares authorized; no shares issued and outstanding |
PreferredStockValue
|
- | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$5.32M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$5.37M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-5.81M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-5.90M | USD | Point-in-time |
| Total Stockholders' Deficit |
StockholdersEquity
|
$-432.37K | USD | Point-in-time |
| Total Stockholders' Deficit |
StockholdersEquity
|
$-578.10K | USD | Point-in-time |
| Total Liabilities and Stockholders' Deficit |
LiabilitiesAndStockholdersEquity
|
$3.11M | USD | Point-in-time |
| Total Liabilities and Stockholders' Deficit |
LiabilitiesAndStockholdersEquity
|
$2.79M | USD | Point-in-time |
Income Statement
48 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Sales revenue from related parties |
RevenueFromRelatedParties
|
$53.31K | USD | 1 Quarter |
| Sales revenue from related parties |
RevenueFromRelatedParties
|
$47.69K | USD | 1 Quarter |
| Products (including related party sales of $53,314 and $47,692 for the three months ended March 31, 2017 and 2016, respectively) |
SalesRevenueGoodsNet
|
$2.00M | USD | 1 Quarter |
| Products (including related party sales of $53,314 and $47,692 for the three months ended March 31, 2017 and 2016, respectively) |
SalesRevenueGoodsNet
|
$1.69M | USD | 1 Quarter |
| Contract services |
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
|
$285.74K | USD | 1 Quarter |
| Contract services |
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
|
$219.86K | USD | 1 Quarter |
| Total Revenues |
Revenues
|
$1.98M | USD | 1 Quarter |
| Total Revenues |
Revenues
|
$2.22M | USD | 1 Quarter |
| Products |
CostOfGoodsSoldProduct
|
$934.93K | USD | 1 Quarter |
| Products |
CostOfGoodsSoldProduct
|
$1.04M | USD | 1 Quarter |
| Contract services |
ContractRevenueCost
|
$247.20K | USD | 1 Quarter |
| Contract services |
ContractRevenueCost
|
$313.11K | USD | 1 Quarter |
| Total Cost of Revenues |
CostOfGoodsSold
|
$1.25M | USD | 1 Quarter |
| Total Cost of Revenues |
CostOfGoodsSold
|
$1.28M | USD | 1 Quarter |
| GROSS PROFIT |
GrossProfit
|
$933.32K | USD | 1 Quarter |
| GROSS PROFIT |
GrossProfit
|
$731.12K | USD | 1 Quarter |
| Selling and marketing expenses |
SellingAndMarketingExpense
|
$64.73K | USD | 1 Quarter |
| Selling and marketing expenses |
SellingAndMarketingExpense
|
$47.37K | USD | 1 Quarter |
| Salaries, wages and related benefits |
SalariesWagesAndOfficersCompensation
|
$413.74K | USD | 1 Quarter |
| Salaries, wages and related benefits |
SalariesWagesAndOfficersCompensation
|
$300.21K | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$68.72K | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$85.76K | USD | 1 Quarter |
| Professional fees |
ProfessionalFees
|
$214.25K | USD | 1 Quarter |
| Professional fees |
ProfessionalFees
|
$106.36K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$226.01K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$215.99K | USD | 1 Quarter |
| Total Operating Expenses |
OperatingExpenses
|
$863.90K | USD | 1 Quarter |
| Total Operating Expenses |
OperatingExpenses
|
$879.24K | USD | 1 Quarter |
| INCOME (LOSS) FROM OPERATIONS |
OperatingIncomeLoss
|
$-148.11K | USD | 1 Quarter |
| INCOME (LOSS) FROM OPERATIONS |
OperatingIncomeLoss
|
$69.41K | USD | 1 Quarter |
| Interest expense |
InterestExpenseOther
|
$25.59K | USD | 1 Quarter |
| Interest expense |
InterestExpenseOther
|
$28.13K | USD | 1 Quarter |
| Other income, net |
OtherIncome
|
$50.59K | USD | 1 Quarter |
| Other income, net |
OtherIncome
|
$56.31K | USD | 1 Quarter |
| Total Other Income |
NonoperatingIncomeExpense
|
$28.18K | USD | 1 Quarter |
| Total Other Income |
NonoperatingIncomeExpense
|
$25.00K | USD | 1 Quarter |
| NET INCOME (LOSS) |
NetIncomeLoss
|
$-119.94K | USD | 1 Quarter |
| NET INCOME (LOSS) |
NetIncomeLoss
|
$-556.00K | USD | Annual |
| NET INCOME (LOSS) |
NetIncomeLoss
|
$-1.87M | USD | Annual |
| NET INCOME (LOSS) |
NetIncomeLoss
|
$94.41K | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$-0.04 | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$0.03 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$-0.04 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$0.03 | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
3.03M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
3.00M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
3.00M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
3.03M | shares | 1 Quarter |
Cash Flow Statement
62 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income (loss) |
NetIncomeLoss
|
$-119.94K | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-556.00K | USD | Annual |
| Net income (loss) |
NetIncomeLoss
|
$-1.87M | USD | Annual |
| Net income (loss) |
NetIncomeLoss
|
$94.41K | USD | 1 Quarter |
| Change in inventory obsolescence reserve |
InventoryWriteDown
|
$27.20K | USD | 1 Quarter |
| Change in inventory obsolescence reserve |
InventoryWriteDown
|
$14.01K | USD | 1 Quarter |
| Depreciation and amortization expense |
DepreciationAndAmortization
|
$37.81K | 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
|
$1.78K | USD | 1 Quarter |
| Gain on sale of property and equipment |
GainLossOnSaleOfPropertyPlantEquipment
|
$21.87K | USD | 1 Quarter |
| Gain on sale of property and equipment |
GainLossOnSaleOfPropertyPlantEquipment
|
- | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$51.31K | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$47.31K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$196.34K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-153.02K | USD | 1 Quarter |
| Accounts receivable - related party |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$21.92K | USD | 1 Quarter |
| Accounts receivable - related party |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$1.45K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$8.25K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$135.20K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$-3.12K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$39.13K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$16.19K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$180.42K | USD | 1 Quarter |
| Accounts payable - related parties |
IncreaseDecreaseInAccountsPayableRelatedParties
|
$58.90K | USD | 1 Quarter |
| Accounts payable - related parties |
IncreaseDecreaseInAccountsPayableRelatedParties
|
$-11.00K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$-128.45K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$34.88K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$-21.69K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
- | USD | 1 Quarter |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES |
NetCashProvidedByUsedInOperatingActivities
|
$151.19K | USD | 1 Quarter |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES |
NetCashProvidedByUsedInOperatingActivities
|
$-92.06K | USD | 1 Quarter |
| Proceeds from sales of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
- | USD | 1 Quarter |
| Proceeds from sales of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$21.87K | USD | 1 Quarter |
| NET CASH PROVIDED BY INVESTING ACTIVITIES |
NetCashProvidedByUsedInInvestingActivities
|
$21.87K | USD | 1 Quarter |
| NET CASH PROVIDED BY INVESTING ACTIVITIES |
NetCashProvidedByUsedInInvestingActivities
|
- | USD | 1 Quarter |
| Proceeds from bank lines of credit |
ProceedsFromLinesOfCredit
|
$1.77M | USD | 1 Quarter |
| Proceeds from bank lines of credit |
ProceedsFromLinesOfCredit
|
$1.67M | USD | 1 Quarter |
| Repayment of bank lines of credit |
RepaymentsOfLinesOfCredit
|
$1.79M | USD | 1 Quarter |
| Repayment of bank lines of credit |
RepaymentsOfLinesOfCredit
|
$1.71M | USD | 1 Quarter |
| Repayment of bank loans |
RepaymentsOfBankDebt
|
$18.59K | USD | 1 Quarter |
| Repayment of bank loans |
RepaymentsOfBankDebt
|
$18.60K | USD | 1 Quarter |
| Repayment of loan to third party |
RepaymentsofThirdPartyDebt
|
$2.46K | USD | 1 Quarter |
| Repayment of loan to third party |
RepaymentsofThirdPartyDebt
|
- | USD | 1 Quarter |
| NET CASH USED IN FINANCING ACTIVITIES |
NetCashProvidedByUsedInFinancingActivities
|
$-57.11K | USD | 1 Quarter |
| NET CASH USED IN FINANCING ACTIVITIES |
NetCashProvidedByUsedInFinancingActivities
|
$-34.91K | USD | 1 Quarter |
| NET INCREASE (DECREASE) IN CASH |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-127.31K | USD | 1 Quarter |
| NET INCREASE (DECREASE) IN CASH |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$116.27K | USD | 1 Quarter |
| CASH, beginning of year |
CashAndCashEquivalentsAtCarryingValue
|
$305.40K | 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
|
$189.13K | USD | Point-in-time |
| CASH, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$305.40K | 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
|
$189.13K | USD | Point-in-time |
| Interest |
InterestPaid
|
$28.13K | USD | 1 Quarter |
| Interest |
InterestPaid
|
$25.59K | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
| Reclassification of accrued salary to notes payable - long-term |
ReclassificationOfAccruedSalaryToNotesPayableLongterm
|
$17.43K | USD | 1 Quarter |
| Reclassification of accrued salary to notes payable - long-term |
ReclassificationOfAccruedSalaryToNotesPayableLongterm
|
- | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.