10-Q Filing

BIOMERICA INC CIK: 73290 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001513162-16-001021`
Period End Date	20160831
Filing Date	20161017
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	bmra-20160831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 39 Cash Flow Statement 42

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.40K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.21K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Accumulated depreciation and amortization (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$893.26K	USD	Point-in-time
Accumulated depreciation and amortization (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	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
Accounts receivable, less allowance for doubtful accounts of $8,213 and $8,405 as of August 31, 2016 and May 31, 2016, respectively	`AccountsReceivableNetCurrent`	$969.47K	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $8,213 and $8,405 as of August 31, 2016 and May 31, 2016, respectively	`AccountsReceivableNetCurrent`	$969.02K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$1.86M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.85M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$132.19K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$113.58K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.84M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.77M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization of $1,460,871 and $1,423,900	`PropertyPlantAndEquipmentNet`	$343.69K	USD	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization of $1,460,871 and $1,423,900	`PropertyPlantAndEquipmentNet`	$380.66K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Deferred Tax Assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$41.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Deferred Tax Assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$41.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.17M	shares	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.17M	shares	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.17M	shares	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$248.80K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$232.79K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.17M	shares	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$58.70K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$55.65K	USD	Point-in-time
Total Assets	`Assets`	$5.61M	USD	Point-in-time
Total Assets	`Assets`	$5.73M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$333.49K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$263.18K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$181.74K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$172.54K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$444.91K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$506.03K	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, 2016 and May 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value authorized 5,000,000 shares, none issued and none outstanding at August 31, 2016 and May 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.08 par value authorized 25,000,000 shares, Issued and outstanding 8,169,673 at August 31, 2016 and May 31, 2016	`CommonStockValue`	$653.57K	USD	Point-in-time
Common stock, $0.08 par value authorized 25,000,000 shares, Issued and outstanding 8,169,673 at August 31, 2016 and May 31, 2016	`CommonStockValue`	$653.57K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$19.40M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$19.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-13.56K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-13.59K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.82M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$5.22M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$5.17M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$5.61M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$5.73M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.41M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.29M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$833.15K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$865.57K	USD	1 Quarter
Gross profit	`GrossProfit`	$421.42K	USD	1 Quarter
Gross profit	`GrossProfit`	$576.96K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$418.35K	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`	$224.25K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$497.65K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$642.59K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-76.23K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-65.63K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$10.21K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$3.93K	USD	1 Quarter
Interest expense	`InterestExpense`	$36.00	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$3.90K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$10.21K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-72.33K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-55.42K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-72.33K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.42K	USD	1 Quarter
Basic net loss per common share (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	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`	$-0.01	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.17M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.58M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.58M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.17M	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-72.33K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.42K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-343.00	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$26.00	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-72.68K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-55.39K	USD	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-72.33K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.42K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$58.87K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$52.98K	USD	1 Quarter
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-192.00	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`	$-9.97K	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$172.00	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$292.00	USD	1 Quarter
Decrease in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$-7.50K	USD	1 Quarter
Decrease in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$-5.57K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$87.83K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-650.00	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$81.71K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-22.61K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$21.65K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$13.74K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$18.76K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-62.81K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$2.03K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$9.20K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-71.93K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-195.64K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.68K	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
Increase in intangible assets	`PaymentsToAcquireIntangibleAssets`	$925.00	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.62K	USD	1 Quarter
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$26.00	USD	1 Quarter
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-343.00	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-195.04K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-71.91K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.89M	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`	$893.26K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.89M	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`	$893.26K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Interest	`InterestPaid`	$36.00	USD	1 Quarter

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