10-K Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001493152-20-023848`
Period End Date	20200930
Filing Date	20201217
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	opxs-20200927.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 34 Cash Flow Statement 66 Stockholders Equity 24

Balance Sheet 70 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`	$4.70M	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`	$1.07M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$3.07M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.95M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.80M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.44M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.44M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.69M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$10.54M	USD	Point-in-time
Inventory, Net	`InventoryNet`	$8.79M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	105,733.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$229.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$348.00K	USD	Point-in-time
Current Assets	`AssetsCurrent`	$16.67M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$15.02M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.10M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.01M	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$1.23M	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$1.41M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$1.42M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	-	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`	$2.67M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$1.44M	USD	Point-in-time
Total Assets	`Assets`	$20.34M	USD	Point-in-time
Total Assets	`Assets`	$17.56M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$833.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.83M	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$417.00K	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Warrant Liability	`WarrantLiabilityCurrent`	$2.54M	USD	Point-in-time
Warrant Liability	`WarrantLiabilityCurrent`	-	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$83.00K	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$46.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$250.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	-	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$1.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$3.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.31M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.41M	USD	Point-in-time
Credit Facility - Long Term	`LongTermLineOfCredit`	$377.00K	USD	Point-in-time
Credit Facility - Long Term	`LongTermLineOfCredit`	-	USD	Point-in-time
Operating Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$1.04M	USD	Point-in-time
Operating Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Warrant Liability - Long Term	`ContractWithCustomerLiabilityNoncurrent`	-	USD	Point-in-time
Warrant Liability - Long Term	`ContractWithCustomerLiabilityNoncurrent`	$2.04M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.35M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.37M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,795,869 and 8,436,422 shares issued, and 8,690,136 and 8,436,422 outstanding, respectively)	`CommonStockValue`	$9.00K	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,795,869 and 8,436,422 shares issued, and 8,690,136 and 8,436,422 outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Treasury Stock (at cost, 105,733 shares and zero shares held, respectively)	`TreasuryStockValue`	-	USD	Point-in-time
Treasury Stock (at cost, 105,733 shares and zero shares held, respectively)	`TreasuryStockValue`	$200.00K	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$26.28M	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$26.13M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-13.93M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-12.11M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$13.98M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$12.21M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$6.34M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$20.34M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$17.56M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$24.53M	USD	Annual
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$25.89M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$18.28M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$19.80M	USD	Annual
Gross Margin	`GrossProfit`	$6.09M	USD	Annual
Gross Margin	`GrossProfit`	$6.25M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.21M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.06M	USD	Annual
Operating Income	`OperatingIncomeLoss`	$3.20M	USD	Annual
Operating Income	`OperatingIncomeLoss`	$2.88M	USD	Annual
(Loss) Gain on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-1.34M	USD	Annual
(Loss) Gain on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$508.00K	USD	Annual
Interest Expense	`InterestExpense`	$23.00K	USD	Annual
Interest Expense	`InterestExpense`	$19.00K	USD	Annual
Other (Expense) Income	`NonoperatingIncomeExpense`	$-527.00K	USD	Annual
Other (Expense) Income	`NonoperatingIncomeExpense`	$1.32M	USD	Annual
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.36M	USD	Annual
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.52M	USD	Annual
Income Tax Expense (Benefit), net	`IncomeTaxExpenseBenefit`	$-1.15M	USD	Annual
Income Tax Expense (Benefit), net	`IncomeTaxExpenseBenefit`	$531.00K	USD	Annual
Net Income	`NetIncomeLoss`	$5.67M	USD	Annual
Net Income	`NetIncomeLoss`	$1.82M	USD	Annual
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	$598.00K	USD	Annual
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	$1.87M	USD	Annual
Net income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.80M	USD	Annual
Net income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.23M	USD	Annual
Basic income per share	`EarningsPerShareBasic`	$0.45	USD	Annual
Basic income per share	`EarningsPerShareBasic`	$0.14	USD	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.39M	shares	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.46M	shares	Annual
Diluted income per share	`EarningsPerShareDiluted`	$0.45	USD	Annual
Diluted income per share	`EarningsPerShareDiluted`	$0.14	USD	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.59M	shares	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.49M	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$5.67M	USD	Annual
Net Income	`NetIncomeLoss`	$1.82M	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$248.00K	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$340.00K	USD	Annual
Loss (Gain) on Change in Fair Value of Warrants	`LossOnChangeInFairValueOfWarrants`	$508.00K	USD	Annual
Loss (Gain) on Change in Fair Value of Warrants	`LossOnChangeInFairValueOfWarrants`	$-1.34M	USD	Annual
Stock Compensation Expense	`ShareBasedCompensation`	$197.00K	USD	Annual
Stock Compensation Expense	`ShareBasedCompensation`	$113.00K	USD	Annual
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$-1.41M	USD	Annual
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$187.00K	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`	$-113.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$608.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$2.90M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-1.74M	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-119.00K	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$243.00K	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.06M	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$903.00K	USD	Annual
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-22.00K	USD	Annual
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	-	USD	Annual
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$55.00K	USD	Annual
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-37.00K	USD	Annual
Prepaid Royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-30.00K	USD	Annual
Prepaid Royalties	`IncreaseDecreaseInPrepaidRoyalties`	-	USD	Annual
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-2.00K	USD	Annual
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-305.00K	USD	Annual
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.09M	USD	Annual
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-5.51M	USD	Annual
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$160.00K	USD	Annual
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$3.91M	USD	Annual
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$152.00K	USD	Annual
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$143.00K	USD	Annual
Proceeds From Sale of Property and Equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Proceeds From Sale of Property and Equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	Annual
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-135.00K	USD	Annual
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-152.00K	USD	Annual
Cash Paid for Taxes Withheld On Net Settled Restricted Stock Unit Share Issue	`CashPaidForTaxesWithheldOnNetSettledRestrictedStockUnitShareIssue`	$54.00K	USD	Annual
Cash Paid for Taxes Withheld On Net Settled Restricted Stock Unit Share Issue	`CashPaidForTaxesWithheldOnNetSettledRestrictedStockUnitShareIssue`	$37.00K	USD	Annual
Borrowings from payments (to) Credit Facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-50.00K	USD	Annual
Borrowings from payments (to) Credit Facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$127.00K	USD	Annual
Proceeds from Warrant Exercise	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from Warrant Exercise	`ProceedsFromWarrantExercises`	$72.00K	USD	Annual
Warrant Repurchase	`PaymentsForRepurchaseOfWarrants`	$75.00K	USD	Annual
Warrant Repurchase	`PaymentsForRepurchaseOfWarrants`	-	USD	Annual
Stock Repurchase	`ProceedsFromRepurchaseOfEquity`	-	USD	Annual
Stock Repurchase	`ProceedsFromRepurchaseOfEquity`	$-200.00K	USD	Annual
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-127.00K	USD	Annual
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-90.00K	USD	Annual
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.63M	USD	Annual
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-65.00K	USD	Annual
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.70M	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 End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.70M	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
Right-of-Use Asset	`RightofuseAsset`	$1.81M	USD	Annual
Right-of-Use Asset	`RightofuseAsset`	-	USD	Annual
Operating Lease Liabilities	`LiabilitiesAssumed1`	-	USD	Annual
Operating Lease Liabilities	`LiabilitiesAssumed1`	$1.89M	USD	Annual
Cash Paid for Taxes	`IncomeTaxesPaidNet`	$360.00K	USD	Annual
Cash Paid for Taxes	`IncomeTaxesPaidNet`	$289.00K	USD	Annual
Cash Paid for Interest	`InterestPaidNet`	$19.00K	USD	Annual
Cash Paid for Interest	`InterestPaidNet`	$23.00K	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$13.98M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$12.21M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$6.34M	USD	Point-in-time
Gross proceeds for exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Gross proceeds for exercise of warrants	`ProceedsFromWarrantExercises`	$72.00K	USD	Annual
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$197.00K	USD	Annual
Fair market value of warranty liability	`FairValueAdjustmentOfWarrants`	$-75.00K	USD	Annual
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$113.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`VestedRestrictedStockUnitsIssuedNetOfTaxWithholding`	$-54.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`VestedRestrictedStockUnitsIssuedNetOfTaxWithholding`	$-37.00K	USD	Annual
Exercise of Warrants for Common Shares at $1.50	`StockIssuedDuringPeriodValueStockWarrantsExercised`	$120.00K	USD	Annual
Restricted common shares issued, value	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	Annual
Restricted Board Shares Issued	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	Annual
Common shares repurchased	`StockRepurchasedDuringPeriodValue`	$200.00K	USD	Point-in-time
Common shares repurchased	`StockRepurchasedDuringPeriodValue`	$200.00K	USD	Annual
Common shares repurchased	`StockRepurchasedDuringPeriodValue`	$200.00K	USD	Point-in-time
Common Stock Repurchase	`StockRepurchasedDuringPeriodValue`	$200.00K	USD	Point-in-time
Common Stock Repurchase	`StockRepurchasedDuringPeriodValue`	$200.00K	USD	Annual
Common Stock Repurchase	`StockRepurchasedDuringPeriodValue`	$200.00K	USD	Point-in-time
Net income	`NetIncomeLoss`	$5.67M	USD	Annual
Net income	`NetIncomeLoss`	$1.82M	USD	Annual
Ending balance	`StockholdersEquity`	$13.98M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$12.21M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$6.34M	USD	Point-in-time

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