10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-001874`
Period End Date	20191231
Filing Date	20200210
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	opxs-20191229.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 34 Cash Flow Statement 56 Stockholders Equity 12

Balance Sheet 64 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
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	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
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.44M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.44M	shares	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.69M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$3.07M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.44M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$10.66M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.44M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$10.54M	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$208.00K	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`	$15.24M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.10M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.06M	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsNet`	$1.41M	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsNet`	$1.34M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$1.72M	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`	$3.08M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$1.44M	USD	Point-in-time
Total Assets	`Assets`	$19.38M	USD	Point-in-time
Total Assets	`Assets`	$17.56M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.28M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.83M	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$549.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$795.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$75.00K	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$46.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$3.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$600.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$250.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.31M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.30M	USD	Point-in-time
Operating Lease Liability - Long Term	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating Lease Liability - Long Term	`OperatingLeaseLiabilityNoncurrent`	$1.24M	USD	Point-in-time
Warrant Liability	`ContractWithCustomerLiabilityNoncurrent`	$3.29M	USD	Point-in-time
Warrant Liability	`ContractWithCustomerLiabilityNoncurrent`	$2.04M	USD	Point-in-time
Total Liabilities	`Liabilities`	$7.83M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.35M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	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 shares issued and outstanding)	`CommonStockValue`	$8.00K	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,436,422 shares issued and outstanding)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapital`	$26.16M	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`	$-14.61M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$12.21M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$6.34M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$8.40M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$11.55M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$17.56M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$19.38M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$5.89M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$5.89M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$4.45M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$4.42M	USD	1 Quarter
Gross Margin	`GrossProfit`	$1.47M	USD	1 Quarter
Gross Margin	`GrossProfit`	$1.44M	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$749.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$743.00K	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$718.00K	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$700.00K	USD	1 Quarter
(Loss) Gain on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$1.25M	USD	1 Quarter
(Loss) Gain on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-1.39M	USD	1 Quarter
Interest Expense	`InterestExpense`	$5.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$6.00K	USD	1 Quarter
Other (Expense) Income	`NonoperatingIncomeExpense`	$-1.26M	USD	1 Quarter
Other (Expense) Income	`NonoperatingIncomeExpense`	$1.38M	USD	1 Quarter
(Loss) Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.08M	USD	1 Quarter
(Loss) Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-538.00K	USD	1 Quarter
Income Tax Expense, net	`IncomeTaxExpenseBenefit`	$54.00K	USD	1 Quarter
Income Tax Expense, net	`IncomeTaxExpenseBenefit`	$141.00K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$2.02M	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$-679.00K	USD	1 Quarter
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	-	USD	1 Quarter
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	$671.00K	USD	1 Quarter
Net (loss) income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.35M	USD	1 Quarter
Net (loss) income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-679.00K	USD	1 Quarter
Basic (loss) income per share	`EarningsPerShareBasicAndDiluted`	$0.16	USD	1 Quarter
Basic (loss) income per share	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.33M	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.44M	shares	1 Quarter
Diluted (loss) income per share	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Diluted (loss) income per share	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.44M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.49M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net (Loss) Income	`NetIncomeLoss`	$2.02M	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$-679.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$85.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$66.00K	USD	1 Quarter
Loss (Gain) on Change in Fair Value of Warrants	`LossGainOnChangeInFairValueOfWarrants`	$1.25M	USD	1 Quarter
Loss (Gain) on Change in Fair Value of Warrants	`LossGainOnChangeInFairValueOfWarrants`	$-1.39M	USD	1 Quarter
Stock Compensation Expense	`ShareBasedCompensation`	$26.00K	USD	1 Quarter
Stock Compensation Expense	`ShareBasedCompensation`	$36.00K	USD	1 Quarter
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$73.00K	USD	1 Quarter
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	-	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-377.00K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$270.00K	USD	1 Quarter
Inventory, net	`IncreaseDecreaseInInventories`	$882.00K	USD	1 Quarter
Inventory, net	`IncreaseDecreaseInInventories`	$121.00K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-140.00K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-17.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$492.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-865.00K	USD	1 Quarter
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$54.00K	USD	1 Quarter
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	-	USD	1 Quarter
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$28.00K	USD	1 Quarter
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-29.00K	USD	1 Quarter
Prepaid Royalties	`IncreaseDecreaseInPrepaidRoyalties`	-	USD	1 Quarter
Prepaid Royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-8.00K	USD	1 Quarter
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-303.00K	USD	1 Quarter
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-3.00K	USD	1 Quarter
Increase (Decrease) In Accrued Estimated Loss On Contracts	`IncreaseDecreaseInAccruedEstimatedLossOnContracts`	-	USD	1 Quarter
Increase (Decrease) In Accrued Estimated Loss On Contracts	`IncreaseDecreaseInAccruedEstimatedLossOnContracts`	-	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$973.00K	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-2.18M	USD	1 Quarter
Net Cash provided by (used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$294.00K	USD	1 Quarter
Net Cash provided by (used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-151.00K	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.00K	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.00K	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.00K	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-29.00K	USD	1 Quarter
Borrowings from Credit Facility	`ProceedsFromLinesOfCredit`	$200.00K	USD	1 Quarter
Borrowings from Credit Facility	`ProceedsFromLinesOfCredit`	$350.00K	USD	1 Quarter
Net Cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$350.00K	USD	1 Quarter
Net Cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$200.00K	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$31.00K	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$615.00K	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.16M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.07M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.13M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.68M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.16M	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`	$1.13M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.68M	USD	Point-in-time
Right-of-Use Asset	`RightofuseAsset`	-	USD	1 Quarter
Right-of-Use Asset	`RightofuseAsset`	$1.81M	USD	1 Quarter
Operating Lease Liabilities	`LiabilitiesAssumed1`	$1.89M	USD	1 Quarter
Operating Lease Liabilities	`LiabilitiesAssumed1`	-	USD	1 Quarter
Cash Paid for Interest	`InterestPaidNet`	$5.00K	USD	1 Quarter
Cash Paid for Interest	`InterestPaidNet`	$6.00K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$12.21M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$6.34M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$8.40M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$11.55M	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$26.00K	USD	1 Quarter
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$36.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.02M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-679.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$12.21M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$6.34M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$8.40M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$11.55M	USD	Point-in-time

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