10-K Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001493152-21-032028`
Period End Date	20210930
Filing Date	20211220
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 34 Cash Flow Statement 62 Stockholders Equity 26

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	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
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.90M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$3.18M	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`	8.52M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	8.49M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$8.79M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	8.69M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$7.58M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	35,555.00	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	105,733.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$262.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$229.00K	USD	Point-in-time
Current Assets	`AssetsCurrent`	$16.67M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$14.93M	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`	$1.29M	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$1.23M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$3.60M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$1.42M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$1.80M	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`	$4.91M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$2.67M	USD	Point-in-time
Total Assets	`Assets`	$20.86M	USD	Point-in-time
Total Assets	`Assets`	$20.34M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$551.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$833.00K	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$417.00K	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$528.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$851.00K	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`	$78.00K	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$83.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomersLiabilityCurrent`	$1.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomersLiabilityCurrent`	-	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.01M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$4.96M	USD	Point-in-time
Credit Facility	`LongTermLineOfCredit`	$377.00K	USD	Point-in-time
Credit Facility	`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`	$3.13M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$3.13M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$1.41M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.14M	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, 8,523,704 and 8,795,869 shares issued, and 8,488,149 and 8,690,136 outstanding, respectively)	`CommonStockValue`	$9.00K	USD	Point-in-time
Common Stock ($0.001 par, 2,000,000,000 authorized, 8,523,704 and 8,795,869 shares issued, and 8,488,149 and 8,690,136 outstanding, respectively)	`CommonStockValue`	$9.00K	USD	Point-in-time
Treasury Stock (at cost, 35,555 and 105,733 shares held, respectively)	`TreasuryStockValue`	$69.00K	USD	Point-in-time
Treasury Stock (at cost, 35,555 and 105,733 shares held, respectively)	`TreasuryStockValue`	$200.00K	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$25.75M	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$26.28M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-12.11M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-9.98M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$12.21M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$13.98M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$15.71M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$20.86M	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`	$18.22M	USD	Annual
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.89M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$15.70M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$19.80M	USD	Annual
Gross Margin	`GrossProfit`	$2.52M	USD	Annual
Gross Margin	`GrossProfit`	$6.09M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.01M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.21M	USD	Annual
Operating Income (Loss)	`OperatingIncomeLoss`	$2.88M	USD	Annual
Operating Income (Loss)	`OperatingIncomeLoss`	$-494.00K	USD	Annual
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$2.54M	USD	Annual
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-508.00K	USD	Annual
Interest Expense	`InterestExpense`	$11.00K	USD	Annual
Interest Expense	`InterestExpense`	$19.00K	USD	Annual
Other Income (Expense)	`NonoperatingIncomeExpense`	$2.52M	USD	Annual
Other Income (Expense)	`NonoperatingIncomeExpense`	$-527.00K	USD	Annual
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.03M	USD	Annual
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.36M	USD	Annual
Income Tax Expense (Benefit), net	`IncomeTaxExpenseBenefit`	$531.00K	USD	Annual
Income Tax Expense (Benefit), net	`IncomeTaxExpenseBenefit`	$-101.00K	USD	Annual
Net Income	`NetIncomeLoss`	$2.13M	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`	$660.00K	USD	Annual
Net income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.23M	USD	Annual
Net income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.47M	USD	Annual
Basic income per share	`EarningsPerShareBasic`	$0.18	USD	Annual
Basic income per share	`EarningsPerShareBasic`	$0.14	USD	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.46M	shares	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.24M	shares	Annual
Diluted income per share	`EarningsPerShareDiluted`	$0.14	USD	Annual
Diluted income per share	`EarningsPerShareDiluted`	$0.18	USD	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.32M	shares	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.59M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$2.13M	USD	Annual
Net Income	`NetIncomeLoss`	$1.82M	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$263.00K	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$248.00K	USD	Annual
(Gain) Loss on Change in Fair Value of Warrants	`GainLossOnChangeInFairValueOfWarrants`	$-508.00K	USD	Annual
(Gain) Loss on Change in Fair Value of Warrants	`GainLossOnChangeInFairValueOfWarrants`	$2.54M	USD	Annual
Stock Compensation Expense	`ShareBasedCompensation`	$197.00K	USD	Annual
Stock Compensation Expense	`ShareBasedCompensation`	$228.00K	USD	Annual
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$-60.00K	USD	Annual
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$187.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$230.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-113.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-1.21M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-1.74M	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-119.00K	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$33.00K	USD	Annual
Leases	`IncreaseDecreaseInLeases`	$-24.00K	USD	Annual
Leases	`IncreaseDecreaseInLeases`	$-38.00K	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.10M	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-510.00K	USD	Annual
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-37.00K	USD	Annual
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$4.00K	USD	Annual
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-2.00K	USD	Annual
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-1.00K	USD	Annual
Increase (Decrease) In Accrued Estimated Loss On Contracts	`IncreaseDecreaseInOtherAccruedLiabilities`	-	USD	Annual
Increase (Decrease) In Accrued Estimated Loss On Contracts	`IncreaseDecreaseInOtherAccruedLiabilities`	-	USD	Annual
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.09M	USD	Annual
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.65M	USD	Annual
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$481.00K	USD	Annual
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$3.91M	USD	Annual
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$274.00K	USD	Annual
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$152.00K	USD	Annual
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-274.00K	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`	$44.00K	USD	Annual
Cash Paid for Taxes Withheld On Net Settled Restricted Stock Unit Share Issue	`CashPaidForTaxesWithheldOnNetSettledRestrictedStockUnitShareIssue`	$54.00K	USD	Annual
Payments (to) Borrowings from Credit Facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$127.00K	USD	Annual
Payments (to) Borrowings from Credit Facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-377.00K	USD	Annual
Proceeds from Warrant Exercise	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from Warrant Exercise	`ProceedsFromWarrantExercises`	$283.00K	USD	Annual
Stock Repurchase	`PaymentsForRepurchaseOfEquity`	$869.00K	USD	Annual
Stock Repurchase	`PaymentsForRepurchaseOfEquity`	$200.00K	USD	Annual
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-127.00K	USD	Annual
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.01M	USD	Annual
Net (Decrease) Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.63M	USD	Annual
Net (Decrease) Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-800.00K	USD	Annual
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.90M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.07M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.70M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.90M	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`	$4.70M	USD	Point-in-time
Right-of-Use Asset	`RightofuseAsset`	$1.81M	USD	Annual
Right-of-Use Asset	`RightofuseAsset`	$3.69M	USD	Annual
Operating Lease Liabilities	`LiabilitiesAssumed1`	$1.89M	USD	Annual
Operating Lease Liabilities	`LiabilitiesAssumed1`	$3.69M	USD	Annual
Treasury stock retired	`TreasuryStockRetired`	$1.00M	USD	Annual
Treasury stock retired	`TreasuryStockRetired`	-	USD	Annual
Cash Paid for Taxes	`IncomeTaxesPaidNet`	$289.00K	USD	Annual
Cash Paid for Taxes	`IncomeTaxesPaidNet`	$48.00K	USD	Annual
Cash Paid for Interest	`InterestPaidNet`	$11.00K	USD	Annual
Cash Paid for Interest	`InterestPaidNet`	$19.00K	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$12.21M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$13.98M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$15.71M	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$228.00K	USD	Annual
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$197.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`VestedRestrictedStockUnitsIssuedNetOfTaxWithholding`	$-44.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`VestedRestrictedStockUnitsIssuedNetOfTaxWithholding`	$-54.00K	USD	Annual
Restricted common shares issued, value	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	Annual
Restricted Board Shares Issued (1)	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	Annual
Common Stock Repurchase (2)	`StockRepurchasedDuringPeriodValue`	$200.00K	USD	Annual
Common Stock Repurchase (2)	`StockRepurchasedDuringPeriodValue`	$869.00K	USD	Annual
Repurchased shares were cancelled	`StockIssuedDuringPeriodOfSharesCancellationOfTreasuryShares`	519,266.00	shares	Annual
Treasury stock using the cost method	`TreasuryStockShares`	35,555.00	shares	Point-in-time
Exercise of Warrants (3)	`StockIssuedDuringPeriodValueStockWarrantsExercised`	$292.00K	USD	Annual
Treasury stock using the cost method	`TreasuryStockShares`	105,733.00	shares	Point-in-time
Gross proceeds for exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Common Stock Purchase and Cancellation	`StockIssuedDuringPeriodValueCommonStockPurchaseAndCancellation`	-	USD	Annual
Gross proceeds for exercise of warrants	`ProceedsFromWarrantExercises`	$283.00K	USD	Annual
Fair market value of warranty liability	`FairValueAdjustmentOfWarrants`	$292.00K	USD	Annual
Cancellation of Treasury Shares (2)	`StockIssuedDuringPeriodValueCancellationOfTreasuryShares`	-	USD	Annual
Cancellation of Treasury Shares, shares	`StockIssuedDuringPeriodOfSharesCancellationOfTreasuryShares`	519,266.00	shares	Annual
Net income	`NetIncomeLoss`	$2.13M	USD	Annual
Net income	`NetIncomeLoss`	$1.82M	USD	Annual
Ending balance, value	`StockholdersEquity`	$12.21M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$13.98M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$15.71M	USD	Point-in-time

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