10-K Filing

NextPlat Corp CIK: 1058307 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001493152-19-004232`
Period End Date	20181231
Filing Date	20190329
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	trkk-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 46 Cash Flow Statement 64 Stockholders Equity 20

Balance Sheet 62 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`	$233.33K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$142.89K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$170.53K	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`	$269.02K	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
Unbilled revenue	`UnbilledReceivablesCurrent`	$87.08K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	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`	$1.93K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	936,519.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$43.71K	USD	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	140.22M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$48.21K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.08M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$715.16K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.52M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$200.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$225.00K	USD	Point-in-time
Total Assets	`Assets`	$3.60M	USD	Point-in-time
Total Assets	`Assets`	$2.44M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$874.47K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$855.69K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$19.70K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$215.99K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$39.03K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$7.00K	USD	Point-in-time
Provision for income taxes	`TaxesPayableCurrent`	$10.70K	USD	Point-in-time
Provision for income taxes	`TaxesPayableCurrent`	$12.46K	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`	$1.06M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.06M	USD	Point-in-time
Common stock, ($0.0001 par value; 750,000,000 shares authorized, 936,519 shares issued and outstanding as of December 31, 2018, and 2017, respectively)	`CommonStockValue`	$93.00	USD	Point-in-time
Common stock, ($0.0001 par value; 750,000,000 shares authorized, 936,519 shares issued and outstanding as of December 31, 2018, and 2017, respectively)	`CommonStockValue`	$93.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.12M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.54M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.17K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-400.00	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.31M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.38M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.86M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.60M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.44M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$6.00M	USD	Annual
Net sales	`Revenues`	$5.73M	USD	Annual
Cost of sales	`CostOfRevenue`	$4.69M	USD	Annual
Cost of sales	`CostOfRevenue`	$4.85M	USD	Annual
Gross profit	`GrossProfit`	$1.15M	USD	Annual
Gross profit	`GrossProfit`	$1.03M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$664.82K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$583.90K	USD	Annual
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$741.58K	USD	Annual
Salaries, wages and payroll taxes	`LaborAndRelatedExpense`	$688.59K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$219.52K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$600.00K	USD	Annual
Professional fees	`ProfessionalFees`	$551.47K	USD	Annual
Professional fees	`ProfessionalFees`	$249.68K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$284.39K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$288.86K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$2.71M	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$2.16M	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-1.13M	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-1.58M	USD	Annual
Interest expense	`InterestExpenseOther`	$110.00	USD	Annual
Interest expense	`InterestExpenseOther`	$831.00	USD	Annual
Foreign currency exchange rate variance	`ForeignCurrencyTransactionGainLossBeforeTax`	$49.67K	USD	Annual
Foreign currency exchange rate variance	`ForeignCurrencyTransactionGainLossBeforeTax`	$56.43K	USD	Annual
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	$1.24K	USD	Annual
Change in fair value of derivative instruments, net	`DerivativeGainLossOnDerivativeNet`	-	USD	Annual
Other expense	`OtherExpenses`	$2.31M	USD	Annual
Other expense	`OtherExpenses`	-	USD	Annual
Total Other Expense	`OtherNonoperatingIncomeExpense`	$56.54K	USD	Annual
Total Other Expense	`OtherNonoperatingIncomeExpense`	$2.36M	USD	Annual
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.92M	USD	Annual
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.19M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$23.46K	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.53K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.19M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.94M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.19M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.94M	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-5.77K	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$32.54K	USD	Annual
Comprehensive loss available to common stockholders	`ComprehensiveIncomeNetOfTax`	$-3.91M	USD	Annual
Comprehensive loss available to common stockholders	`ComprehensiveIncomeNetOfTax`	$-1.20M	USD	Annual
Net loss Per Share - Basic & Diluted	`EarningsPerShareBasicAndDiluted`	$-8.10	USD	Annual
Net loss Per Share - Basic & Diluted	`EarningsPerShareBasicAndDiluted`	$-1.28	USD	Annual
Weighted average common shares outstanding Basic & Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	482,531.00	shares	Annual
Weighted average common shares outstanding Basic & Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	936,519.00	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.19M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.94M	USD	Annual
Imputed interest	`ImputedInterest`	$831.00	USD	Annual
Imputed interest	`ImputedInterest`	$110.00	USD	Annual
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$25.00K	USD	Annual
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$25.00K	USD	Annual
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services	`OtherDepreciationAndAmortization`	-	USD	Annual
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services	`OtherDepreciationAndAmortization`	$161.16K	USD	Annual
Preferred stock-based price protection expense	`PreferredStockbasedPriceProtectionExpense`	-	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`	-	USD	Annual
Depreciation expense	`Depreciation`	$259.39K	USD	Annual
Depreciation expense	`Depreciation`	$263.86K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$219.52K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$600.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-123.97K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$197.74K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-63.87K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-2.37K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-80.53K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$72.45K	USD	Annual
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$-2.44K	USD	Annual
Unbilled revenue	`IncreaseDecreaseInUnbilledReceivables`	$35.17K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-4.50K	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`	$18.78K	USD	Annual
Provision for income taxes	`IncreaseDecreaseInIncomeTaxes`	$12.46K	USD	Annual
Provision for income taxes	`IncreaseDecreaseInIncomeTaxes`	$-1.76K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-196.29K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$213.37K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-315.25K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-590.18K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.33K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.19K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.33K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.19K	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$500.00K	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$500.00K	USD	Annual
Proceeds from (repayments to) related party, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$32.03K	USD	Annual
Proceeds from (repayments to) related party, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-60.45K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$532.03K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$439.55K	USD	Annual
Effect of Exchange Rate on Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$27.49K	USD	Annual
Effect of Exchange Rate on Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-1.95K	USD	Annual
Net (Decrease) Increase in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$118.59K	USD	Annual
Net (Decrease) Increase in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-90.44K	USD	Annual
Cash at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$233.33K	USD	Point-in-time
Cash at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$142.89K	USD	Point-in-time
Cash at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$114.73K	USD	Point-in-time
Cash at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$233.33K	USD	Point-in-time
Cash at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$142.89K	USD	Point-in-time
Cash at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$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`	$5.10K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	$6.41K	USD	Annual
Issuance of preferred stock for price protection expense	`StockIssued1`	-	USD	Annual
Issuance of preferred stock for price protection expense	`StockIssued1`	$2.31M	USD	Annual
Issuance of common stock for prepaid services	`IssuanceOfCommonStockForPrepaidServices`	-	USD	Annual
Issuance of common stock for prepaid services	`IssuanceOfCommonStockForPrepaidServices`	$100.00K	USD	Annual
Issuance of common and preferred stock for accounts payable	`IssuanceOfCommonAndPreferredStockForAccountsPayable`	-	USD	Annual
Issuance of common and preferred stock for accounts payable	`IssuanceOfCommonAndPreferredStockForAccountsPayable`	$46.69K	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$2.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.86M	USD	Point-in-time
Preferred stock conversions to common	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Stock based compensation for options granted	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$219.52K	USD	Annual
Stock based compensation for options granted	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$600.00K	USD	Annual
Common stock issued for accounts payable	`CommonStockIssuedForAccountsPayable`	$46.69K	USD	Annual
Sale of Series J Preferred Stock	`SaleOfStockConsiderationReceivedPerTransaction`	$200.00K	USD	Annual
Sale of Series J Preferred Stock	`SaleOfStockConsiderationReceivedPerTransaction`	$500.00K	USD	Annual
Preferred stock issued due to antidilution clauses of the Preferred Series C, F and G Subscribers	`StockIssuedDuringPeriodValueNewIssuesOne`	$2.31M	USD	Annual
Imputed interest expense related to related party note payable issued for recapitalization	`ImputedInterestExpenseForRelatedPartyNotePayableIssuedForRecapitalization`	$831.00	USD	Annual
Imputed interest expense related to related party note payable issued for recapitalization	`ImputedInterestExpenseForRelatedPartyNotePayableIssuedForRecapitalization`	$110.00	USD	Annual
Comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$32.54K	USD	Annual
Comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-5.77K	USD	Annual
Sale of Preferred stock Series L	`SaleOfStockConsiderationReceivedPerTransactionOne`	$300.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.19M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.94M	USD	Annual
Balance	`StockholdersEquity`	$2.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.86M	USD	Point-in-time

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