10-K Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001493152-22-035871`
Period End Date	20220930
Filing Date	20221219
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 34 Cash Flow Statement 66 Stockholders Equity 27

Balance Sheet 67 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
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.90M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$934.00K	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.91M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.52M	shares	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$3.18M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.72M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$7.58M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.72M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.49M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$9.21M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$328.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	35,555.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$262.00K	USD	Point-in-time
Current Assets	`AssetsCurrent`	$14.93M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$13.38M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.02M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$968.00K	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$1.29M	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$942.00K	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$3.60M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$3.22M	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`	$4.19M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$4.91M	USD	Point-in-time
Total Assets	`Assets`	$18.54M	USD	Point-in-time
Total Assets	`Assets`	$20.86M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$706.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$551.00K	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$528.00K	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$604.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$331.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$800.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$958.00K	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$169.00K	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$78.00K	USD	Point-in-time
Contract Loss Reserves	`ContractLossReservesCurrent`	$51.00K	USD	Point-in-time
Contract Loss Reserves	`ContractLossReservesCurrent`	$289.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$311.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.37M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.01M	USD	Point-in-time
Operating Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$3.13M	USD	Point-in-time
Operating Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.76M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$2.76M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$3.13M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.13M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.14M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock ($0.001 par, 2,000,000,000 authorized, 6,716,638 and 8,523,704 shares issued, and 6,716,638 and 8,488,149 shares outstanding, respectively)	`CommonStockValue`	$7.00K	USD	Point-in-time
Common Stock ($0.001 par, 2,000,000,000 authorized, 6,716,638 and 8,523,704 shares issued, and 6,716,638 and 8,488,149 shares outstanding, respectively)	`CommonStockValue`	$9.00K	USD	Point-in-time
Treasury Stock (at cost, zero and 35,555 shares held, respectively)	`TreasuryStockValue`	$69.00K	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$25.75M	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$21.10M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-9.98M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-8.70M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$15.71M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$12.41M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$13.98M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$20.86M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$18.54M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$22.38M	USD	Annual
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$18.22M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$15.70M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$17.49M	USD	Annual
Gross Margin	`GrossProfit`	$2.52M	USD	Annual
Gross Margin	`GrossProfit`	$4.90M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.25M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.01M	USD	Annual
Operating Income (Loss)	`OperatingIncomeLoss`	$1.65M	USD	Annual
Operating Income (Loss)	`OperatingIncomeLoss`	$-494.00K	USD	Annual
Gain on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$2.54M	USD	Annual
Gain on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	-	USD	Annual
Interest Expense	`InterestExpense`	-	USD	Annual
Interest Expense	`InterestExpense`	$11.00K	USD	Annual
Other Income (Expense)	`NonoperatingIncomeExpense`	-	USD	Annual
Other Income (Expense)	`NonoperatingIncomeExpense`	$2.52M	USD	Annual
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.65M	USD	Annual
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.03M	USD	Annual
Income Tax Expense (Benefit), net	`IncomeTaxExpenseBenefit`	$364.00K	USD	Annual
Income Tax Expense (Benefit), net	`IncomeTaxExpenseBenefit`	$-101.00K	USD	Annual
Net Income	`NetIncomeLoss`	$2.13M	USD	Annual
Net Income	`NetIncomeLoss`	$1.28M	USD	Annual
Deemed dividends on participating securities	`PreferredStockDividendsAndOtherAdjustments`	$660.00K	USD	Annual
Deemed dividends on participating securities	`PreferredStockDividendsAndOtherAdjustments`	-	USD	Annual
Net income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.47M	USD	Annual
Net income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.28M	USD	Annual
Basic income per share	`EarningsPerShareBasic`	$0.18	USD	Annual
Basic income per share	`EarningsPerShareBasic`	$0.16	USD	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.24M	shares	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.13M	shares	Annual
Diluted income per share	`EarningsPerShareDiluted`	$0.18	USD	Annual
Diluted income per share	`EarningsPerShareDiluted`	$0.16	USD	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.32M	shares	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.22M	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$2.13M	USD	Annual
Net Income	`NetIncomeLoss`	$1.28M	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$263.00K	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$307.00K	USD	Annual
Gain on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$2.54M	USD	Annual
Gain on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	-	USD	Annual
Stock Compensation Expense	`ShareBasedCompensation`	$162.00K	USD	Annual
Stock Compensation Expense	`ShareBasedCompensation`	$228.00K	USD	Annual
Change in Deferred Tax Asset	`DeferredIncomeTaxesAndTaxCredits`	$-60.00K	USD	Annual
Change in Deferred Tax Asset	`DeferredIncomeTaxesAndTaxCredits`	$346.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$230.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-254.00K	USD	Annual
Bad Debt Expense	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Bad Debt Expense	`ProvisionForDoubtfulAccounts`	$21.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-1.21M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$1.63M	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$66.00K	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$33.00K	USD	Annual
Leases	`IncreaseDecreaseInOperatingLeaseLiability`	$80.00K	USD	Annual
Leases	`IncreaseDecreaseInOperatingLeaseLiability`	$24.00K	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$313.00K	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-561.00K	USD	Annual
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	-	USD	Annual
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$331.00K	USD	Annual
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$4.00K	USD	Annual
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-91.00K	USD	Annual
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-1.00K	USD	Annual
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$311.00K	USD	Annual
Increase In Accrued Estimated Loss On Contracts	`IncreaseDecreaseInAccruedEstimatedLossOnContracts`	$238.00K	USD	Annual
Increase In Accrued Estimated Loss On Contracts	`IncreaseDecreaseInAccruedEstimatedLossOnContracts`	$51.00K	USD	Annual
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$759.00K	USD	Annual
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.65M	USD	Annual
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$2.04M	USD	Annual
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$481.00K	USD	Annual
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$257.00K	USD	Annual
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$274.00K	USD	Annual
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-274.00K	USD	Annual
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-257.00K	USD	Annual
Cash Paid for Taxes Withheld On Net Settled Restricted Stock Unit Share Issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$44.00K	USD	Annual
Cash Paid for Taxes Withheld On Net Settled Restricted Stock Unit Share Issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$19.00K	USD	Annual
Payments to Credit Facility	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Payments to Credit Facility	`RepaymentsOfLinesOfCredit`	$377.00K	USD	Annual
Proceeds from Warrant Exercise	`ProceedsFromWarrantExercises`	$283.00K	USD	Annual
Proceeds from Warrant Exercise	`ProceedsFromWarrantExercises`	-	USD	Annual
Common Stock Repurchases	`PaymentsForRepurchaseOfEquity`	$4.73M	USD	Annual
Common Stock Repurchases	`PaymentsForRepurchaseOfEquity`	$869.00K	USD	Annual
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.01M	USD	Annual
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.75M	USD	Annual
Net Decrease in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.97M	USD	Annual
Net Decrease in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-800.00K	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`	$934.00K	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.90M	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`	$934.00K	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.90M	USD	Point-in-time
Right-of-Use Asset	`RightofuseAsset`	$3.69M	USD	Annual
Right-of-Use Asset	`RightofuseAsset`	$51.00K	USD	Annual
Operating Lease Liabilities	`LiabilitiesAssumed1`	$51.00K	USD	Annual
Operating Lease Liabilities	`LiabilitiesAssumed1`	$3.69M	USD	Annual
Treasury stock retired	`TreasuryStockRetired`	$-4.80M	USD	Annual
Treasury stock retired	`TreasuryStockRetired`	$-1.00M	USD	Annual
Cash (Refund) Paid for Taxes	`IncomeTaxesPaidNet`	$48.00K	USD	Annual
Cash (Refund) Paid for Taxes	`IncomeTaxesPaidNet`	$-312.00K	USD	Annual
Cash Paid for Interest	`InterestPaidNet`	-	USD	Annual
Cash Paid for Interest	`InterestPaidNet`	$11.00K	USD	Annual

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Treasury stock using the cost method, shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Treasury stock using the cost method, shares	`TreasuryStockShares`	35,555.00	shares	Point-in-time
Treasury stock using the cost method, shares, value	`TreasuryStockValue`	$69.00K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$15.71M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$12.41M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$13.98M	USD	Point-in-time
Exercise price of warrants for common shares	`ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1`	$1.50	USD	Point-in-time
Exercise price of warrants for common shares	`ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1`	$1.50	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$228.00K	USD	Annual
Gross proceeds for exercise of warrants	`ProceedsFromWarrantExercises`	$283.00K	USD	Annual
Gross proceeds for exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$162.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`VestedRestrictedStockUnitsIssuedNetOfTaxWithholding`	$-19.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`VestedRestrictedStockUnitsIssuedNetOfTaxWithholding`	$-44.00K	USD	Annual
Fair market value of warranty liability	`FairValueAdjustmentOfWarrants`	$292.00K	USD	Annual
Common Stock Repurchase	`StockRepurchasedDuringPeriodValue`	$869.00K	USD	Annual
Common Stock Repurchase	`StockRepurchasedDuringPeriodValue`	$371.00K	USD	Annual
Exercise of Warrants	`StockIssuedDuringPeriodValueStockWarrantsExercised`	$292.00K	USD	Annual
Common Stock Purchase and Cancellation	`StockIssuedDuringPeriodValueShareBasedCompensationForfeited`	-	USD	Annual
Cancellation of Treasury Shares	`StockIssuedDuringPeriodValueTreasuryStockReissued`	-	USD	Annual
Cancellation of Treasury Shares	`StockIssuedDuringPeriodValueTreasuryStockReissued`	-	USD	Annual
Net income	`NetIncomeLoss`	$2.13M	USD	Annual
Net income	`NetIncomeLoss`	$1.28M	USD	Annual
Tender Offer Stock Repurchase and Cancellation	`StockRepurchasedAndRetiredDuringPeriodValue`	$-4.36M	USD	Annual
Ending balance, value	`StockholdersEquity`	$15.71M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$12.41M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$13.98M	USD	Point-in-time

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