10-K Filing

NextPlat Corp CIK: 1058307 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001493152-18-004404`
Period End Date	20171231
Filing Date	20180402
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	trkk-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 50 Cash Flow Statement 70 Stockholders Equity 26

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, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	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`	$233.33K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$96.76K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$294.50K	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`	$332.89K	USD	Point-in-time
Inventory	`InventoryNet`	$335.27K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$54.34K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$89.52K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$171.16K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	383,751.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	936,519.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$82.45K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$29.84K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	383,751.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$48.21K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	936,519.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$802.11K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.08M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.98M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.76M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$225.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$250.00K	USD	Point-in-time
Total Assets	`Assets`	$3.06M	USD	Point-in-time
Total Assets	`Assets`	$3.03M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$855.69K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$536.91K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.62K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$215.99K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$67.45K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$7.00K	USD	Point-in-time
Derivative liability - current portion	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Derivative liability - current portion	`DerivativeLiabilitiesCurrent`	$1.24K	USD	Point-in-time
Provision for income taxes	`TaxesPayableCurrent`	$12.46K	USD	Point-in-time
Provision for income taxes	`TaxesPayableCurrent`	-	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$112.40K	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$112.40K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.20M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$720.62K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$720.62K	USD	Point-in-time
Common stock, ($0.0001 par value; 750,000,000 shares authorized, 936,519 and 383,751 shares issued and outstanding as of December 31, 2017, and 2016, respectively)	`CommonStockValue`	$38.00	USD	Point-in-time
Common stock, ($0.0001 par value; 750,000,000 shares authorized, 936,519 and 383,751 shares issued and outstanding as of December 31, 2017, and 2016, respectively)	`CommonStockValue`	$94.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.94M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.54M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-400.00	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-32.94K	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.86M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$2.88M	USD	Point-in-time
Total Stockholders 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`	$3.60M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$6.00M	USD	Annual
Net sales	`SalesRevenueNet`	$4.70M	USD	Annual
Cost of sales	`CostOfRevenue`	$3.62M	USD	Annual
Cost of sales	`CostOfRevenue`	$4.85M	USD	Annual
Gross profit	`GrossProfit`	$1.08M	USD	Annual
Gross profit	`GrossProfit`	$1.15M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$566.19K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$583.90K	USD	Annual
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$688.59K	USD	Annual
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$664.71K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$600.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$190.00K	USD	Annual
Professional fees	`ProfessionalFees`	$992.95K	USD	Annual
Professional fees	`ProfessionalFees`	$551.47K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$291.80K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$284.39K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$2.71M	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$2.71M	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-1.63M	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-1.58M	USD	Annual
Interest expense	`InterestExpenseOther`	$-603.16K	USD	Annual
Interest expense	`InterestExpenseOther`	$-831.00	USD	Annual
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$102.55K	USD	Annual
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$49.67K	USD	Annual
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	$-1.24K	USD	Annual
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	$-426.09K	USD	Annual
Other expense	`OtherExpenses`	$-2.31M	USD	Annual
Other expense	`OtherExpenses`	$-679.78K	USD	Annual
Total Other Expense	`OtherNonoperatingIncomeExpense`	$2.36M	USD	Annual
Total Other Expense	`OtherNonoperatingIncomeExpense`	$959.40K	USD	Annual
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.59M	USD	Annual
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.92M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$23.46K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.59M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.94M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.59M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.94M	USD	Annual
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$32.54K	USD	Annual
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$-20.68K	USD	Annual
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.91M	USD	Annual
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.61M	USD	Annual
Net loss Per Share - Basic	`EarningsPerShareBasic`	$-8.10	USD	Annual
Net loss Per Share - Basic	`EarningsPerShareBasic`	$-11.42	USD	Annual
Net loss Per Share - Diluted	`EarningsPerShareDiluted`	$-11.42	USD	Annual
Net loss Per Share - Diluted	`EarningsPerShareDiluted`	$-8.10	USD	Annual
Weighted average common shares outstanding Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	482,531.00	shares	Annual
Weighted average common shares outstanding Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	228,518.00	shares	Annual
Weighted average common shares outstanding Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	482,531.00	shares	Annual
Weighted average common shares outstanding Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	228,518.00	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.59M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.94M	USD	Annual
Imputed interest	`ImputedInterest`	$831.00	USD	Annual
Imputed interest	`ImputedInterest`	$1.13K	USD	Annual
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$25.00K	USD	Annual
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$25.00K	USD	Annual
Amortization of convertible notes payable discount, net	`AmortizationOfFinancingCostsAndDiscounts`	$602.51K	USD	Annual
Amortization of convertible notes payable discount, net	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	Annual
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services	`OtherDepreciationAndAmortization`	$161.16K	USD	Annual
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services	`OtherDepreciationAndAmortization`	$262.50K	USD	Annual
Preferred stock-based price protection expense	`PreferredStockbasedPriceProtectionExpense`	$679.78K	USD	Annual
Preferred stock-based price protection expense	`PreferredStockbasedPriceProtectionExpense`	$2.31M	USD	Annual
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-1.24K	USD	Annual
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-426.09K	USD	Annual
Depreciation expense	`Depreciation`	$259.39K	USD	Annual
Depreciation expense	`Depreciation`	$266.80K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$600.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$190.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$197.74K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-19.96K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-2.37K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$83.75K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$72.45K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-47.98K	USD	Annual
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$35.17K	USD	Annual
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$-11.42K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-13.50K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$18.37K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$365.48K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-50.83K	USD	Annual
Provision for income taxes	`IncreaseDecreaseInIncomeTaxes`	$12.46K	USD	Annual
Provision for income taxes	`IncreaseDecreaseInIncomeTaxes`	-	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$213.37K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-14.04K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-315.25K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.04M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$26.45K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.19K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.19K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-26.45K	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$350.00K	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$500.00K	USD	Annual
Repayments of convertible debt	`RepaymentsOfConvertibleDebt`	$100.83K	USD	Annual
Repayments of convertible debt	`RepaymentsOfConvertibleDebt`	-	USD	Annual
Repayments (to) from related party, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-60.45K	USD	Annual
Repayments (to) from related party, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-6.60K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$242.57K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$439.55K	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-20.68K	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$27.49K	USD	Annual
Net decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$118.59K	USD	Annual
Net decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-848.60K	USD	Annual
Cash at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$963.33K	USD	Point-in-time
Cash at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$233.33K	USD	Point-in-time
Cash at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Cash at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$963.33K	USD	Point-in-time
Cash at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$233.33K	USD	Point-in-time
Cash at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	$3.90K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	$6.41K	USD	Annual
Issuance of preferred stock for price protection expense	`IssuanceOfPreferredStockForPriceProtectionExpense`	$2.31M	USD	Annual
Issuance of preferred stock for price protection expense	`IssuanceOfPreferredStockForPriceProtectionExpense`	-	USD	Annual
Issuance of common stock for prepaid services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$100.00K	USD	Annual
Issuance of common stock for prepaid services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Issuance of common and preferred stock for accounts payable	`PreferredStockIssuedForAccountsPayable`	$46.69K	USD	Annual
Issuance of common and preferred stock for accounts payable	`PreferredStockIssuedForAccountsPayable`	$22.50K	USD	Annual
Issuance of preferred stock for conversion of debt	`PreferredStockIssuedForConversionOfDebt`	$650.67K	USD	Annual
Issuance of preferred stock for conversion of debt	`PreferredStockIssuedForConversionOfDebt`	-	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.31M	USD	Point-in-time
Post-split retroactive effect on shares 1:150	`PostsplitRetroactiveEffectOnShares`	-	USD	Annual
Common stock issued for prepaid services	`StockIssuedDuringPeriodValueIssuedForServices`	$100.00K	USD	Annual
Preferred stock conversions to common	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Preferred stock conversions to common	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Preferred stock issued upon the conversion of convertible notes	`AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt`	$650.67K	USD	Annual
Stock-based compensation in connection with options granted	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$600.00K	USD	Annual
Stock-based compensation in connection with options granted	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$190.00K	USD	Annual
Common stock issued for accounts payable	`CommonStockIssuedForAccountsPayable`	$22.50K	USD	Annual
Sale of Series H Preferred Stock	`SaleOfStockConsiderationReceivedPerTransaction`	$350.00K	USD	Annual
Preferred stock issued due to antidilution clauses of the Preferred Series C, F and G Subscribers	`StockIssuedDuringPeriodValueNewIssuesOne`	$679.78K	USD	Annual
Imputed interest expense related to related party note payable issued for recapitalization	`ImputedInterestExpenseForRelatedPartyNotePayableIssuedForRecapitalization`	$1.13K	USD	Annual
Imputed interest expense related to related party note payable issued for recapitalization	`ImputedInterestExpenseForRelatedPartyNotePayableIssuedForRecapitalization`	$831.00	USD	Annual
Sale of Preferred stock Series J	`SaleOfStockConsiderationReceivedPerTransactionOne`	$500.00K	USD	Annual
Preferred stock issued for settlement of Accounts Payable	`PreferredStockIssuedForSettlementOfAccountsPayable`	$46.69K	USD	Annual
Preferred stock issued due to antidilution clauses of the Preferred Series F, G and H Subscribers	`StockIssuedDuringPeriodValueNewIssuesTwo`	$2.31M	USD	Annual
Change in fair value of derivative	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$44.56K	USD	Annual
Comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-20.68K	USD	Annual
Comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$32.54K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.59M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.94M	USD	Annual
Balance	`StockholdersEquity`	$1.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.31M	USD	Point-in-time

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