10-Q Filing

BIOMERICA INC CIK: 73290 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001513162-15-000587`
Period End Date	20150831
Filing Date	20151015
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	bmra-20150831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 40 Cash Flow Statement 50

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.47K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.15K	USD	Point-in-time
Preferred Stock, No Par Value (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock, No Par Value (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$893.26K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.65M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.51M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $3,154 and $17,468 as of August 31, 2015 and May 31, 2015, respectively	`AccountsReceivableNetCurrent`	$1.21M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $3,154 and $17,468 as of August 31, 2015 and May 31, 2015, respectively	`AccountsReceivableNetCurrent`	$1.11M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$2.03M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$2.11M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$164.35K	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$173.97K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Deferred tax assets, current portion	`DeferredTaxAssetsNetCurrent`	$74.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Deferred tax assets, current portion	`DeferredTaxAssetsNetCurrent`	$74.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.46M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.57M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.47M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.58M	shares	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$445.39K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.58M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.57M	shares	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$410.92K	USD	Point-in-time
Deferred Tax Assets, net of current portion	`DeferredTaxAssetsNetNoncurrent`	$670.00K	USD	Point-in-time
Deferred Tax Assets, net of current portion	`DeferredTaxAssetsNetNoncurrent`	$670.00K	USD	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$303.51K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$321.30K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$60.96K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$56.84K	USD	Point-in-time
Total Assets	`Assets`	$6.12M	USD	Point-in-time
Total Assets	`Assets`	$6.07M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$405.33K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$392.14K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$133.82K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$131.79K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$539.15K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$523.93K	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, no par value authorized 5,000,000 shares, none issued and none outstanding at August 31, 2015 and May 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value authorized 5,000,000 shares, none issued and none outstanding at August 31, 2015 and May 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.08 par value authorized 25,000,000 shares, Issued and outstanding 7,584,487 and 7,566,714 at August 31, 2015 and May 31, 2015, respectively	`CommonStockValue`	$605.34K	USD	Point-in-time
Common stock, $0.08 par value authorized 25,000,000 shares, Issued and outstanding 7,584,487 and 7,566,714 at August 31, 2015 and May 31, 2015, respectively	`CommonStockValue`	$606.76K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$18.33M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$18.33M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.61K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.26K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.32M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$5.60M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$5.54M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$6.12M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$6.07M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.29M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.03M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$724.54K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$865.57K	USD	1 Quarter
Gross profit	`GrossProfit`	$309.91K	USD	1 Quarter
Gross profit	`GrossProfit`	$421.42K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$338.32K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$339.66K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$157.99K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$195.71K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$534.02K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$497.65K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-76.23K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-224.11K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$3.93K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$4.86K	USD	1 Quarter
Interest expense	`InterestExpense`	$18.00	USD	1 Quarter
Interest expense	`InterestExpense`	$36.00	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$4.84K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$3.90K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-219.27K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-72.33K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-219.27K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-72.33K	USD	1 Quarter
Basic net loss per common share (in Dollars per share)	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Basic net loss per common share (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted net loss per common share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted net loss per common share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.55M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.58M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.55M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.58M	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-219.27K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-72.33K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-934.00	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-343.00	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-220.20K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-72.68K	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-219.27K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-72.33K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$63.42K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$58.87K	USD	1 Quarter
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-15.54K	USD	1 Quarter
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-14.31K	USD	1 Quarter
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$-92.00	USD	1 Quarter
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$20.78K	USD	1 Quarter
Gain on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$665.00	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$292.00	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$1.01K	USD	1 Quarter
Decrease in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$-5.57K	USD	1 Quarter
Decrease in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$-3.69K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-675.05K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$87.83K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$135.20K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$81.71K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$13.74K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$38.83K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-207.55K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$18.76K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$2.03K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$4.12K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-195.64K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$143.64K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.68K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.67K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.90K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.77K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.68K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$7.55K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.17K	USD	1 Quarter
Increase in intangibles	`PaymentsToAcquireIntangibleAssets`	$6.25K	USD	1 Quarter
Increase in intangibles	`PaymentsToAcquireIntangibleAssets`	$925.00	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.08K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.62K	USD	1 Quarter
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-934.00	USD	1 Quarter
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-343.00	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$137.85K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-195.04K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$893.26K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.65M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.51M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$893.26K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.65M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.51M	USD	Point-in-time
Interest	`InterestPaid`	$18.00	USD	1 Quarter
Interest	`InterestPaid`	$36.00	USD	1 Quarter

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