10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001493152-21-003629`
Period End Date	20201231
Filing Date	20210212
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	opxs-20201227.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 34 Cash Flow Statement 54 Stockholders Equity 13

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`	$4.63M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	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 issued	`CommonStockSharesIssued`	8.80M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.80M	shares	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.95M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.14M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.69M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$9.35M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.48M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$8.79M	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$167.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	105,733.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	314,325.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$229.00K	USD	Point-in-time
Current Assets	`AssetsCurrent`	$16.28M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$16.67M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.02M	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`	$1.21M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$1.42M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$1.31M	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`	$2.55M	USD	Point-in-time
Total Assets	`Assets`	$19.85M	USD	Point-in-time
Total Assets	`Assets`	$20.34M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$833.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$844.00K	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$345.00K	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$417.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.02M	USD	Point-in-time
Warrant Liability	`WarrantLiabilityCurrent`	$2.54M	USD	Point-in-time
Warrant Liability	`WarrantLiabilityCurrent`	$1.52M	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$49.00K	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$83.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$1.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.78M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$4.96M	USD	Point-in-time
Credit Facility - Long Term	`LongTermLineOfCredit`	$377.00K	USD	Point-in-time
Credit Facility - Long Term	`LongTermLineOfCredit`	$377.00K	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`	$991.00K	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$1.37M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$1.41M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.37M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.14M	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, 8,795,869 and 8,795,869 shares issued, and 8,481,544 and 8,690,136 outstanding, respectively)	`CommonStockValue`	$9.00K	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,795,869 and 8,795,869 shares issued, and 8,481,544 and 8,690,136 outstanding, respectively)	`CommonStockValue`	$9.00K	USD	Point-in-time
Treasury Stock (at cost, 314,325 shares and 105,733 shares held, respectively)	`TreasuryStockValue`	$200.00K	USD	Point-in-time
Treasury Stock (at cost, 314,325 shares and 105,733 shares held, respectively)	`TreasuryStockValue`	$615.00K	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$26.33M	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$26.28M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-11.02M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-12.11M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$14.71M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$11.55M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$12.21M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$13.98M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$19.85M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$20.34M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.89M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.47M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.64M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$4.42M	USD	1 Quarter
Gross Margin	`GrossProfit`	$1.47M	USD	1 Quarter
Gross Margin	`GrossProfit`	$835.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$749.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$756.00K	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$79.00K	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$718.00K	USD	1 Quarter
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-1.03M	USD	1 Quarter
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$1.25M	USD	1 Quarter
Interest Expense	`InterestExpense`	$5.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$3.00K	USD	1 Quarter
Other Income (Expense)	`NonoperatingIncomeExpense`	$-1.26M	USD	1 Quarter
Other Income (Expense)	`NonoperatingIncomeExpense`	$1.02M	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.10M	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-538.00K	USD	1 Quarter
Income Tax Expense, net	`IncomeTaxExpenseBenefit`	$141.00K	USD	1 Quarter
Income Tax Expense, net	`IncomeTaxExpenseBenefit`	$16.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-679.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$1.09M	USD	1 Quarter
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	-	USD	1 Quarter
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	$361.00K	USD	1 Quarter
Net income (loss) applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$726.00K	USD	1 Quarter
Net income (loss) applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-679.00K	USD	1 Quarter
Basic income (loss) per share	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
Basic income (loss) per share	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.44M	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.30M	shares	1 Quarter
Diluted income (loss) per share	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Diluted income (loss) per share	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.49M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.44M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-679.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$1.09M	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$66.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$63.00K	USD	1 Quarter
Loss (Gain) on Change in Fair Value of Warrants	`GainLossOnChangeInFairValueOfWarrants`	$-1.25M	USD	1 Quarter
Loss (Gain) on Change in Fair Value of Warrants	`GainLossOnChangeInFairValueOfWarrants`	$1.03M	USD	1 Quarter
Stock Compensation Expense	`ShareBasedCompensation`	$26.00K	USD	1 Quarter
Stock Compensation Expense	`ShareBasedCompensation`	$57.00K	USD	1 Quarter
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$16.00K	USD	1 Quarter
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$73.00K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-377.00K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-815.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$557.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$121.00K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-140.00K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-62.00K	USD	1 Quarter
Leases	`IncreaseDecreaseInLeases`	$10.00K	USD	1 Quarter
Leases	`IncreaseDecreaseInLeases`	$14.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-855.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-44.00K	USD	1 Quarter
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-29.00K	USD	1 Quarter
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$34.00K	USD	1 Quarter
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-3.00K	USD	1 Quarter
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-1.00K	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$973.00K	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-664.00K	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$423.00K	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$294.00K	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$81.00K	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.00K	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-29.00K	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-81.00K	USD	1 Quarter
Borrowings from Credit Facility	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Borrowings from Credit Facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$350.00K	USD	1 Quarter
Stock Repurchase	`ProceedsFromRepurchaseOfEquity`	-	USD	1 Quarter
Stock Repurchase	`ProceedsFromRepurchaseOfEquity`	$-415.00K	USD	1 Quarter
Net Cash provided by (used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-415.00K	USD	1 Quarter
Net Cash provided by (used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$350.00K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$615.00K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-73.00K	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.07M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.63M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.70M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.68M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.07M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.63M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.70M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`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`	-	USD	1 Quarter
Operating Lease Liabilities	`LiabilitiesAssumed1`	$1.89M	USD	1 Quarter
Cash Paid for Interest	`InterestPaidNet`	$5.00K	USD	1 Quarter
Cash Paid for Interest	`InterestPaidNet`	$3.00K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$14.71M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$11.55M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$12.21M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$13.98M	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$26.00K	USD	1 Quarter
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$57.00K	USD	1 Quarter
Common Stock Repurchase	`StockRepurchasedDuringPeriodValue`	$415.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-679.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.09M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$14.71M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$11.55M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$12.21M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$13.98M	USD	Point-in-time

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