10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-004474`
Period End Date	20221231
Filing Date	20230213
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 26 Cash Flow Statement 51 Stockholders Equity 15

Balance Sheet 68 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`	$1.28M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$934.00K	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
Common stock, shares issued	`CommonStockSharesIssued`	6.72M	shares	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$1.60M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.76M	shares	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.91M	USD	Point-in-time
Inventory, Net	`InventoryNet`	$10.80M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.72M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$9.21M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.76M	shares	Point-in-time
Contract Asset	`CapitalizedContractCostNetCurrent`	$336.00K	USD	Point-in-time
Contract Asset	`CapitalizedContractCostNetCurrent`	-	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$328.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$249.00K	USD	Point-in-time
Current Assets	`AssetsCurrent`	$13.38M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$14.27M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$977.00K	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$968.00K	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$942.00K	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$1.00M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$3.10M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$3.22M	USD	Point-in-time
Security Deposits	`SecurityDeposit`	$23.00K	USD	Point-in-time
Security Deposits	`SecurityDeposit`	$23.00K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$4.13M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$4.19M	USD	Point-in-time
Total Assets	`Assets`	$19.37M	USD	Point-in-time
Total Assets	`Assets`	$18.54M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$706.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.43M	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$608.00K	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$604.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$331.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$331.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$977.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$958.00K	USD	Point-in-time
Accrued Selling Expense	`AccruedSellingExpense`	$336.00K	USD	Point-in-time
Accrued Selling Expense	`AccruedSellingExpense`	-	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$229.00K	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$169.00K	USD	Point-in-time
Contract Loss Reserves	`ContractLossReserves`	$282.00K	USD	Point-in-time
Contract Loss Reserves	`ContractLossReserves`	$289.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$326.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$311.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.37M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$4.52M	USD	Point-in-time
Operating Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.65M	USD	Point-in-time
Operating Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.76M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$2.65M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$2.76M	USD	Point-in-time
Total Liabilities	`Liabilities`	$7.17M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.13M	USD	Point-in-time
Common Stock ($0.001 par, 2,000,000,000 authorized, 6,763,070 and 6,716,638 shares issued, and 6,763,070 and 6,716,638 shares outstanding, respectively)	`CommonStockValue`	$7.00K	USD	Point-in-time
Common Stock ($0.001 par, 2,000,000,000 authorized, 6,763,070 and 6,716,638 shares issued, and 6,763,070 and 6,716,638 shares outstanding, respectively)	`CommonStockValue`	$7.00K	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$21.12M	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$21.10M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-8.70M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-8.92M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$12.21M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$12.41M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$15.73M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$15.71M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$19.37M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$18.54M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.04M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.34M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.52M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.32M	USD	1 Quarter
Gross Profit	`GrossProfit`	$717.00K	USD	1 Quarter
Gross Profit	`GrossProfit`	$823.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$999.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$808.00K	USD	1 Quarter
Operating (Loss) Income	`OperatingIncomeLoss`	$-282.00K	USD	1 Quarter
Operating (Loss) Income	`OperatingIncomeLoss`	$15.00K	USD	1 Quarter
Other Expense	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other Expense	`NonoperatingIncomeExpense`	-	USD	1 Quarter
(Loss) Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.00K	USD	1 Quarter
(Loss) Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-282.00K	USD	1 Quarter
Income Tax Benefit	`IncomeTaxExpenseBenefit`	$-59.00K	USD	1 Quarter
Income Tax Benefit	`IncomeTaxExpenseBenefit`	$-14.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$29.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-223.00K	USD	1 Quarter
Basic (loss) income per share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (loss) income per share	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.23M	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.54M	shares	1 Quarter
Diluted (loss) income per share	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted (loss) income per share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.28M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.54M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net (Loss) Income	`NetIncomeLoss`	$29.00K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$-223.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$81.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$72.00K	USD	1 Quarter
Stock Compensation Expense	`ShareBasedCompensation`	$57.00K	USD	1 Quarter
Stock Compensation Expense	`ShareBasedCompensation`	$35.00K	USD	1 Quarter
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$-59.00K	USD	1 Quarter
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$-14.00K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.30M	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.17M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$335.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.59M	USD	1 Quarter
Contract Asset	`IncreaseDecreaseInContractWithCustomerAsset`	$336.00K	USD	1 Quarter
Contract Asset	`IncreaseDecreaseInContractWithCustomerAsset`	-	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-79.00K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-11.00K	USD	1 Quarter
Leases	`IncreaseDecreaseInOperatingLeaseLiability`	$8.00K	USD	1 Quarter
Leases	`IncreaseDecreaseInOperatingLeaseLiability`	$55.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$457.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$745.00K	USD	1 Quarter
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-44.00K	USD	1 Quarter
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-60.00K	USD	1 Quarter
Accrued Selling Expense	`IncreaseDecreaseInAccruedSellingExpense`	-	USD	1 Quarter
Accrued Selling Expense	`IncreaseDecreaseInAccruedSellingExpense`	$336.00K	USD	1 Quarter
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	1 Quarter
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$15.00K	USD	1 Quarter
Accrued Contract Losses	`IncreaseDecreaseInAccruedContractLoss`	$7.00K	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$674.00K	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.52M	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$451.00K	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$1.55M	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$90.00K	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$90.00K	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-90.00K	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-90.00K	USD	1 Quarter
Cash Paid for Taxes Withheld on Net Settled Restricted Stock Unit Shares Issued	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$15.00K	USD	1 Quarter
Cash Paid for Taxes Withheld on Net Settled Restricted Stock Unit Shares Issued	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Common Stock Repurchase	`ProceedsFromRepurchaseOfEquity`	-	USD	1 Quarter
Common Stock Repurchase	`ProceedsFromRepurchaseOfEquity`	$-74.00K	USD	1 Quarter
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.00K	USD	1 Quarter
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-74.00K	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.39M	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$346.00K	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.28M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.90M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.29M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$934.00K	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.28M	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`	$5.29M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$934.00K	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$12.21M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$12.41M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$15.73M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$15.71M	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$35.00K	USD	1 Quarter
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$57.00K	USD	1 Quarter
Vested Restricted Stock Units, net of withheld taxes	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Vested Restricted Stock Units, net of withheld taxes	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$-15.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$29.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-223.00K	USD	1 Quarter
Common Stock Repurchase	`StockRepurchasedDuringPeriodValue`	$74.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$12.21M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$12.41M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$15.73M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$15.71M	USD	Point-in-time

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