10-Q Filing

NextPlat Corp CIK: 1058307 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-006965`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	trkk-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 42 Cash Flow Statement 50

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, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	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`	$214.49K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$216.53K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$233.33K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$294.50K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$211.60K	USD	Point-in-time
Inventory	`InventoryNet`	$332.89K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$395.30K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$79.78K	USD	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$89.52K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	936,519.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$82.45K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	936,519.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$50.45K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	140.22M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	936,519.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	936,519.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$49.16K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$48.21K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.08M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.70M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$218.75K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$225.00K	USD	Point-in-time
Total assets	`Assets`	$2.92M	USD	Point-in-time
Total assets	`Assets`	$3.06M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$997.83K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$855.69K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$54.21K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$215.99K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$7.00K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$21.33K	USD	Point-in-time
Provision for income taxes	`TaxesPayableCurrent`	$12.46K	USD	Point-in-time
Provision for income taxes	`TaxesPayableCurrent`	$12.93K	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`	$1.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.20M	USD	Point-in-time
Common Shares, $0.0001 par value; 750,000,000 shares authorized, 936,519 outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$94.00	USD	Point-in-time
Common Shares, $0.0001 par value; 750,000,000 shares authorized, 936,519 outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$94.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.40M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-8.69M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-8.54M	USD	Point-in-time
Accumulated other comprehensive (income) loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-400.00	USD	Point-in-time
Accumulated other comprehensive (income) loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.60K	USD	Point-in-time
Total stockholder equity	`StockholdersEquity`	$1.72M	USD	Point-in-time
Total stockholder equity	`StockholdersEquity`	$1.86M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.92M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.06M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.67M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.38M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.29M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.07M	USD	1 Quarter
Gross profit	`GrossProfit`	$379.10K	USD	1 Quarter
Gross profit	`GrossProfit`	$314.58K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$154.99K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$155.25K	USD	1 Quarter
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$152.95K	USD	1 Quarter
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$180.72K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$109.19K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$148.86K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$75.98K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$75.27K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$533.04K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$520.18K	USD	1 Quarter
(Loss) before other expenses and income taxes	`OperatingIncomeLoss`	$-218.46K	USD	1 Quarter
(Loss) before other expenses and income taxes	`OperatingIncomeLoss`	$-141.08K	USD	1 Quarter
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	$-1.11K	USD	1 Quarter
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$-76.00	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$-218.00	USD	1 Quarter
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$4.30K	USD	1 Quarter
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$1.69K	USD	1 Quarter
Total other (income) expense	`OtherNonoperatingIncomeExpense`	$798.00	USD	1 Quarter
Total other (income) expense	`OtherNonoperatingIncomeExpense`	$4.38K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-145.46K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-219.26K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-145.46K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-219.26K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$5.00K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$5.59K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossTax`	$-140.46K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossTax`	$-213.67K	USD	1 Quarter
Weighted average number of common shares outstanding- basic	`WeightedAverageNumberOfDilutedSharesOutstanding`	936,519.00	shares	1 Quarter
Weighted average number of common shares outstanding- basic	`WeightedAverageNumberOfDilutedSharesOutstanding`	416,928.00	shares	1 Quarter
Weighted average number of common shares outstanding- diluted	`EarningsPerShareBasic`	$936.52K	USD	1 Quarter
Weighted average number of common shares outstanding- diluted	`EarningsPerShareBasic`	$416.93K	USD	1 Quarter
Basic net loss per share	`WeightedAverageNumberOfSharesOutstandingBasic`	-0.51	shares	1 Quarter
Basic net loss per share	`WeightedAverageNumberOfSharesOutstandingBasic`	-0.15	shares	1 Quarter
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.51	USD	1 Quarter
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-145.46K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-219.26K	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-1.11K	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Depreciation expense	`Depreciation`	$69.73K	USD	1 Quarter
Depreciation expense	`Depreciation`	$69.02K	USD	1 Quarter
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$6.25K	USD	1 Quarter
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$6.25K	USD	1 Quarter
Imputed interest	`ImputedInterest`	$218.00	USD	1 Quarter
Imputed interest	`ImputedInterest`	$76.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-82.90K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$53.12K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$33.92K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$62.41K	USD	1 Quarter
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$2.21K	USD	1 Quarter
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$-9.73K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-50.07K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-32.01K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$949.00	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$29.80K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$142.15K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$301.48K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-161.78K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-1.20K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-28.46K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$87.12K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.56K	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`	$-5.56K	USD	1 Quarter
Proceeds of note payable, related party, net	`ProceedsFromRelatedPartyDebt`	$14.34K	USD	1 Quarter
Proceeds of note payable, related party, net	`ProceedsFromRelatedPartyDebt`	$15.97K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.97K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.34K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$5.59K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.88K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-16.79K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$99.76K	USD	1 Quarter
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$214.49K	USD	Point-in-time
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$216.53K	USD	Point-in-time
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$233.33K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$214.49K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$216.53K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$233.33K	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

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