10-K Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001493152-19-019283`
Period End Date	20190930
Filing Date	20191216
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	opxs-20190929.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 36 Cash Flow Statement 68 Stockholders Equity 23

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.07M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$3.07M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.46M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.44M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.33M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$10.54M	USD	Point-in-time
Inventory, Net	`InventoryNet`	$7.64M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.44M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.33M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$104.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$348.00K	USD	Point-in-time
Current Assets	`AssetsCurrent`	$15.02M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$11.33M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.30M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.10M	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsNet`	$1.41M	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsNet`	-	USD	Point-in-time
Prepaid Royalties	`PrepaidRoyaltiesNoncurrent`	$30.00K	USD	Point-in-time
Prepaid Royalties	`PrepaidRoyaltiesNoncurrent`	-	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$53.00K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$1.44M	USD	Point-in-time
Total Assets	`Assets`	$17.56M	USD	Point-in-time
Total Assets	`Assets`	$12.69M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.83M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$943.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$22.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$101.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$46.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$3.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$308.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$250.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$300.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.31M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.84M	USD	Point-in-time
Warrant Liability	`ContractWithCustomerLiabilityNoncurrent`	$2.04M	USD	Point-in-time
Warrant Liability	`ContractWithCustomerLiabilityNoncurrent`	$3.50M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.35M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,436,422 and 8,333,353 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,436,422 and 8,333,353 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapital`	$25.94M	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapital`	$26.13M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-13.93M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-19.60M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$6.34M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$12.21M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$5.95M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$17.56M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.69M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$24.53M	USD	Annual
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$20.85M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$18.28M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$16.34M	USD	Annual
Gross Margin	`GrossProfit`	$4.51M	USD	Annual
Gross Margin	`GrossProfit`	$6.25M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.03M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.06M	USD	Annual
Operating Income	`OperatingIncomeLoss`	$1.49M	USD	Annual
Operating Income	`OperatingIncomeLoss`	$3.20M	USD	Annual
Gain on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$1.34M	USD	Annual
Gain on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$95.00K	USD	Annual
Interest Expense	`InterestExpense`	$20.00K	USD	Annual
Interest Expense	`InterestExpense`	$23.00K	USD	Annual
Other Income	`NonoperatingIncomeExpense`	$1.32M	USD	Annual
Other Income	`NonoperatingIncomeExpense`	$75.00K	USD	Annual
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.52M	USD	Annual
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.56M	USD	Annual
Income Tax (Benefit) Expense, net	`IncomeTaxExpenseBenefit`	$167.00K	USD	Annual
Income Tax (Benefit) Expense, net	`IncomeTaxExpenseBenefit`	$-1.15M	USD	Annual
Net income	`NetIncomeLoss`	$1.39M	USD	Annual
Net income	`NetIncomeLoss`	$5.67M	USD	Annual
Dividends declared on participating securities	`DividendsDeclaredOnParticipatingSecurities`	$178.00K	USD	Annual
Dividends declared on participating securities	`DividendsDeclaredOnParticipatingSecurities`	-	USD	Annual
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	$286.00K	USD	Annual
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	$1.87M	USD	Annual
Net income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$930.00K	USD	Annual
Net income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.80M	USD	Annual
Basic income per share	`EarningsPerShareBasicAndDiluted`	$0.11	USD	Annual
Basic income per share	`EarningsPerShareBasicAndDiluted`	$0.45	USD	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.46M	shares	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.39M	shares	Annual
Diluted income per share	`EarningsPerShareDiluted`	$0.11	USD	Annual
Diluted income per share	`EarningsPerShareDiluted`	$0.45	USD	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.49M	shares	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.80M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$1.39M	USD	Annual
Net Income	`NetIncomeLoss`	$5.67M	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$327.00K	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$340.00K	USD	Annual
(Gain) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$1.34M	USD	Annual
(Gain) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$95.00K	USD	Annual
Stock Compensation Expense	`ShareBasedCompensation`	$113.00K	USD	Annual
Stock Compensation Expense	`ShareBasedCompensation`	$153.00K	USD	Annual
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$-1.41M	USD	Annual
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	-	USD	Annual
(Gain) On Sale of Fixed Assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
(Gain) On Sale of Fixed Assets	`GainLossOnDispositionOfAssets1`	$7.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-666.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$608.00K	USD	Annual
Inventory, net	`IncreaseDecreaseInInventories`	$75.00K	USD	Annual
Inventory, net	`IncreaseDecreaseInInventories`	$2.90M	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$243.00K	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$41.00K	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$903.00K	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-700.00K	USD	Annual
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-22.00K	USD	Annual
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$22.00K	USD	Annual
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$73.00K	USD	Annual
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$55.00K	USD	Annual
Prepaid Royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-30.00K	USD	Annual
Prepaid Royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-30.00K	USD	Annual
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-305.00K	USD	Annual
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-619.00K	USD	Annual
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-5.51M	USD	Annual
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-355.00K	USD	Annual
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$160.00K	USD	Annual
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$1.04M	USD	Annual
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$167.00K	USD	Annual
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$143.00K	USD	Annual
Proceeds From Sale of Fixed Assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Proceeds From Sale of Fixed Assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	Annual
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-135.00K	USD	Annual
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-167.00K	USD	Annual
Dividends Paid	`PaymentsOfDividends`	-	USD	Annual
Dividends Paid	`PaymentsOfDividends`	$784.00K	USD	Annual
Cash Paid for Taxes Withheld On Net Settled Restricted Stock Unit Share Issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$37.00K	USD	Annual
Cash Paid for Taxes Withheld On Net Settled Restricted Stock Unit Share Issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$30.00K	USD	Annual
Payments on Credit Facility	`RepaymentsOfLinesOfCredit`	$50.00K	USD	Annual
Payments on Credit Facility	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Proceeds From Warrant Exercise	`ProceedsFromWarrantExercises`	$72.00K	USD	Annual
Proceeds From Warrant Exercise	`ProceedsFromWarrantExercises`	$93.00K	USD	Annual
Warrant Repurchase	`PaymentsForRepurchaseOfWarrants`	-	USD	Annual
Warrant Repurchase	`PaymentsForRepurchaseOfWarrants`	$75.00K	USD	Annual
Stock Repurchase	`PaymentsForRepurchaseOfEquity`	$700.00K	USD	Annual
Stock Repurchase	`PaymentsForRepurchaseOfEquity`	-	USD	Annual
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.42M	USD	Annual
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-90.00K	USD	Annual
Net Decrease in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-549.00K	USD	Annual
Net Decrease in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-65.00K	USD	Annual
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.07M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.68M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.13M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.07M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.68M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.13M	USD	Point-in-time
Exchange of Preferred Stock for Common Stock	`ExchangeOfPreferredStockForCommonStock`	$870.00K	USD	Annual
Exchange of Preferred Stock for Common Stock	`ExchangeOfPreferredStockForCommonStock`	-	USD	Annual
Correction for Warrants	`CorrectionForWarrants`	$41.00K	USD	Annual
Correction for Warrants	`CorrectionForWarrants`	-	USD	Annual
Cash Paid for Taxes	`IncomeTaxesPaidNet`	$-144.00K	USD	Annual
Cash Paid for Taxes	`IncomeTaxesPaidNet`	$-360.00K	USD	Annual
Cash Paid for Interest	`InterestPaidNet`	$23.00K	USD	Annual
Cash Paid for Interest	`InterestPaidNet`	$20.00K	USD	Annual

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Exercise of warrants for common shares	`SharesIssuedPricePerShare`	$1.50	USD	Point-in-time
Warrants outstanding	`ClassOfWarrantOrRightOutstanding`	197,935.00	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$6.34M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$12.21M	USD	Point-in-time
Proceeds from warrant exercised	`ProceedsFromWarrantExercises`	$72.00K	USD	Annual
Beginning balance	`StockholdersEquity`	$5.95M	USD	Point-in-time
Proceeds from warrant exercised	`ProceedsFromWarrantExercises`	$93.00K	USD	Annual
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$113.00K	USD	Annual
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$153.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$-37.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$-30.00K	USD	Annual
Vested restricted stock units issued net of tax withholding, shares	`RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings`	82,500.00	shares	Point-in-time
Conversions of Series C Preferred Shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Stock Buyback and Cancellation	`StockRepurchasedAndRetiredDuringPeriodValue`	$-701.00K	USD	Annual
Declared Dividends	`Dividends`	$523.00K	USD	Annual
Correction for Warrants	`AdjustmentsToAdditionalPaidInCapitalCorrectionForWarrants`	$-41.00K	USD	Annual
Exercise of Warrants for Common Shares at $1.50	`StockIssuedDuringPeriodValueStockWarrantsExercised`	$146.00K	USD	Annual
Exercise of Warrants for Common Shares at $1.50	`StockIssuedDuringPeriodValueStockWarrantsExercised`	$120.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.39M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$5.67M	USD	Annual
Ending balance	`StockholdersEquity`	$6.34M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$12.21M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.95M	USD	Point-in-time

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