10-Q Filing

NextPlat Corp CIK: 1058307 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-011671`
Period End Date	20180630
Filing Date	20180814
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	trkk-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 92 Cash Flow Statement 66

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`	$114.73K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$452.12K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$501.69K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$233.33K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$251.08K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$294.50K	USD	Point-in-time
Inventory	`InventoryNet`	$436.13K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$332.89K	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`	$89.52K	USD	Point-in-time
Unbilled revenue	`UnbilledReceivablesCurrent`	$81.10K	USD	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
Prepaid expenses	`PrepaidExpenseCurrent`	$20.85K	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	936,519.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$68.59K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	140.22M	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`	$1.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.31M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.65M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$225.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$212.50K	USD	Point-in-time
Total assets	`Assets`	$3.17M	USD	Point-in-time
Total assets	`Assets`	$3.06M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$940.29K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$855.69K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$15.90K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$215.99K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$5.52K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$7.00K	USD	Point-in-time
Provision for income taxes	`TaxesPayableCurrent`	$12.19K	USD	Point-in-time
Provision for income taxes	`TaxesPayableCurrent`	$12.46K	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`	$1.09M	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`	$1.09M	USD	Point-in-time
Common Shares, $0.0001 par value; 750,000,000 shares authorized, 936,519 outstanding as of June 30, 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 June 30, 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`	$10.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.54M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.53K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-400.00	USD	Point-in-time
Total stockholder equity	`StockholdersEquity`	$1.86M	USD	Point-in-time
Total stockholder equity	`StockholdersEquity`	$2.08M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.17M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.06M	USD	Point-in-time

Income Statement 92 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$2.94M	USD	2 Qtrs
Net sales	`Revenues`	$3.27M	USD	2 Qtrs
Net sales	`Revenues`	$1.57M	USD	1 Quarter
Net sales	`Revenues`	$1.60M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$2.34M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$1.27M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.24M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$2.53M	USD	2 Qtrs
Gross profit	`GrossProfit`	$735.17K	USD	2 Qtrs
Gross profit	`GrossProfit`	$356.07K	USD	1 Quarter
Gross profit	`GrossProfit`	$296.64K	USD	1 Quarter
Gross profit	`GrossProfit`	$594.56K	USD	2 Qtrs
Selling and general administrative	`SellingGeneralAndAdministrativeExpense`	$146.16K	USD	1 Quarter
Selling and general administrative	`SellingGeneralAndAdministrativeExpense`	$160.67K	USD	1 Quarter
Selling and general administrative	`SellingGeneralAndAdministrativeExpense`	$315.66K	USD	2 Qtrs
Selling and general administrative	`SellingGeneralAndAdministrativeExpense`	$298.62K	USD	2 Qtrs
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$185.23K	USD	1 Quarter
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$365.95K	USD	2 Qtrs
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$181.87K	USD	1 Quarter
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$334.59K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$600.00K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$600.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$119.81K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$268.65K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$160.97K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$51.78K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$146.71K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$74.09K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$150.16K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$71.44K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$989.29K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.65M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$469.12K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.12M	USD	1 Quarter
Loss before other expenses and income taxes	`OperatingIncomeLoss`	$-825.29K	USD	1 Quarter
Loss before other expenses and income taxes	`OperatingIncomeLoss`	$-1.06M	USD	2 Qtrs
Loss before other expenses and income taxes	`OperatingIncomeLoss`	$-254.12K	USD	2 Qtrs
Loss before other expenses and income taxes	`OperatingIncomeLoss`	$-113.04K	USD	1 Quarter
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	$-123.00	USD	1 Quarter
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	$1.24K	USD	2 Qtrs
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$436.00	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$218.00	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$34.00	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$110.00	USD	2 Qtrs
Other expense - Subscription Holders Preferred	`OtherExpenses`	-	USD	2 Qtrs
Other expense - Subscription Holders Preferred	`OtherExpenses`	$2.31M	USD	2 Qtrs
Other expense - Subscription Holders Preferred	`OtherExpenses`	-	USD	1 Quarter
Other expense - Subscription Holders Preferred	`OtherExpenses`	$2.31M	USD	1 Quarter
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$10.54K	USD	1 Quarter
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$-5.37K	USD	2 Qtrs
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$14.85K	USD	2 Qtrs
Foreign currency exchange rate variance	`ConversionGainsAndLossesOnForeignInvestments`	$-3.85K	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$2.30M	USD	2 Qtrs
Total other expense	`OtherNonoperatingIncomeExpense`	$10.58K	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$2.31M	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$14.96K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-123.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.36M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.13M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-269.08K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-123.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.36M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.13M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-269.08K	USD	2 Qtrs
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$-12.13K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$-14.64K	USD	2 Qtrs
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$9.05K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$-7.13K	USD	2 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossTax`	$3.12M	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossTax`	$276.20K	USD	2 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossTax`	$3.35M	USD	2 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossTax`	$135.75K	USD	1 Quarter
Weighted number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	936,519.00	shares	1 Quarter
Weighted number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	733,865.00	shares	2 Qtrs
Weighted number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	447,017.00	shares	1 Quarter
Weighted number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	290,973.00	shares	2 Qtrs
Weighted number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	290,973.00	shares	2 Qtrs
Weighted number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	936,519.00	shares	1 Quarter
Weighted number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	733,865.00	shares	2 Qtrs
Weighted number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	447,017.00	shares	1 Quarter
Basic net (loss) per share	`EarningsPerShareBasic`	$-6.98	USD	1 Quarter
Basic net (loss) per share	`EarningsPerShareBasic`	$-0.36	USD	2 Qtrs
Basic net (loss) per share	`EarningsPerShareBasic`	$-11.50	USD	2 Qtrs
Basic net (loss) per share	`EarningsPerShareBasic`	$-0.14	USD	1 Quarter
Diluted net (loss) per share	`EarningsPerShareDiluted`	$-0.36	USD	2 Qtrs
Diluted net (loss) per share	`EarningsPerShareDiluted`	$-6.98	USD	1 Quarter
Diluted net (loss) per share	`EarningsPerShareDiluted`	$-0.14	USD	1 Quarter
Diluted net (loss) per share	`EarningsPerShareDiluted`	$-11.50	USD	2 Qtrs

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-123.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.36M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.13M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-269.08K	USD	2 Qtrs
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-123.00	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$1.24K	USD	2 Qtrs
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Depreciation expense	`Depreciation`	$134.21K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$137.66K	USD	2 Qtrs
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$12.50K	USD	2 Qtrs
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$12.50K	USD	2 Qtrs
Preferred stock-based price protection expense	`PreferredStockbasedPriceProtectionExpense`	$2.31M	USD	2 Qtrs
Preferred stock-based price protection expense	`PreferredStockbasedPriceProtectionExpense`	-	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$600.00K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$600.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services	`OtherDepreciationAndAmortization`	$80.58K	USD	2 Qtrs
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services	`OtherDepreciationAndAmortization`	-	USD	2 Qtrs
Imputed interest	`ImputedInterest`	$436.00	USD	2 Qtrs
Imputed interest	`ImputedInterest`	$110.00	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$115.85K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-43.41K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$92.30K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$103.24K	USD	2 Qtrs
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$33.99K	USD	2 Qtrs
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$-8.41K	USD	2 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-10.00K	USD	2 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-61.61K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$55.26K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$20.38K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$389.02K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$84.60K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$19.10K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-200.09K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-247.93K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-100.63K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.96K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.80K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.80K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.96K	USD	2 Qtrs
Payments of note payable, related party, net	`RepaymentsOfRelatedPartyDebt`	$1.48K	USD	2 Qtrs
Payments of note payable, related party, net	`RepaymentsOfRelatedPartyDebt`	$7.02K	USD	2 Qtrs
Proceeds from sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$500.00K	USD	2 Qtrs
Proceeds from sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$500.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$498.52K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$492.98K	USD	2 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-9.99K	USD	2 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$11.57K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$386.96K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$218.72K	USD	2 Qtrs
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$452.12K	USD	Point-in-time
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$501.69K	USD	Point-in-time
Cash beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$233.33K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$114.73K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$452.12K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$501.69K	USD	Point-in-time
Cash end of period	`CashAndCashEquivalentsAtCarryingValue`	$233.33K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	2 Qtrs
Interest	`InterestPaidNet`	-	USD	2 Qtrs
Income tax	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income tax	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Preferred stock issued for accounts payable	`PreferredStockIssuedForAccountsPayable`	-	USD	2 Qtrs
Preferred stock issued for accounts payable	`PreferredStockIssuedForAccountsPayable`	$46.69K	USD	2 Qtrs

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